根据公司发布的招股文件，地平线机器人将以每股3.73-3.99港元的价格出售13.6亿股股票，其中香港公开发售约1.36亿股，占比10%。According to the prospectus disclosure, Horizon Robotics has completed 11 rounds of financing since its establishment, with a pre-IPO valuation of 62.7 billion RMB. In the first half of 2024, Horizon Robotics' revenue was 0.9346 billion yuan, a year-on-year increase of 151.6%, with a gross margin of 79%.
Intelligent driving leader $HORIZONROBOT-W (09660.HK)$ Commenced the IPO process today, planning to raise up to 5 billion RMB in the IPO.
On Wednesday, October 16, China's autonomous driving system software and hardware provider Horizon Robotics conducted its first public offering (IPO) in Hong Kong, planning to raise up to 5.4 billion Hong Kong dollars (approximately 4.943 billion RMB), making it one of the largest IPO transactions in the Hong Kong stock market this year. Key cornerstone investors including Alibaba, Baidu, have agreed to subscribe for over 1.565 billion RMB (over 30%) and committed to holding the shares for at least six months. Goldman Sachs, Morgan Stanley, and China Securities Co., Ltd. International are the joint sponsors of Horizon Robotics IPO.
According to the company's prospectus, Horizon Robotics will sell 1.36 billion shares at a price range of 3.73-3.99 Hong Kong dollars per share, with approximately 0.136 billion shares available for public sale in Hong Kong, accounting for 10%.
According to sources cited by Bloomberg, Horizon Robotics' shares were quickly fully subscribed today.
Horizon Robotics stated that nearly 70% of the IPO proceeds will be used for R&D over the next five years, with the remaining funds allocated to sales and marketing, and meeting operational funding needs.
On October 24, Horizon Robotics' stocks will be officially listed on the Hong Kong Stock Exchange.
Horizon noted in its prospectus that China is the world's largest passenger vehicle new car market, with an estimated 21.7 million new passenger vehicles in 2023, including 12.4 million smart automobiles, reaching a penetration rate of 57.1%. According to CIC, it is expected that by 2030, nearly 80% of the passenger vehicles in China will have high-end automated driving solutions, far exceeding the penetration rate of high-end automated driving solutions in the global market.
Siasun Robot&Automation's revenue for the first half of 2024 increased by 151.6% year-on-year, with a high gross margin of 79%.
Siasun Robot&Automation was registered in the Isle of Man in 2015. According to the prospectus, Siasun Robot&Automation has completed a total of 11 rounds of financing since its establishment. Prior to submitting the prospectus, the valuation of Siasun Robot&Automation was 62.7 billion RMB (8.7 billion USD).
Siasun Robot&Automation is China's first and largest company to provide advanced driver assistance systems (ADAS) and advanced autonomous driving (AD) solutions for mass production. The top ten OEMs in China are all clients of Siasun Robot&Automation. In addition, Siasun Robot&Automation has delivered a cumulative total of 5 million hardware units, with over 100 new designated vehicle models added in 2023.
According to the prospectus, Siasun Robot&Automation's gross margin in 2021, 2022, and 2023 were 70.9%, 69.3%, and 70.5% respectively.
In 2021, 2022, and 2023, Siasun Robot&Automation's revenue was 0.4667 billion yuan, 0.9057 billion yuan, and 1.5516 billion yuan respectively. In the first half of 2024, Siasun Robot&Automation's revenue was 0.9346 billion yuan, with a 151.6% year-on-year increase and a high gross margin of 79%.
