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Chinese fabless chipmaker providing AI processors and software for autonomous driving and ADAS systems.
Chinese fabless chipmaker providing AI processors and software for autonomous driving and ADAS systems.
Sells chips together with its software, and takes licence and service fees from carmakers for custom development, so winning a design on a given car model sets volume for that model's life. It ships through carmaker supply chains rather than to consumers.
In one line: A Chinese Mobileye-lite for autonomous-driving chips.
Moat: narrow (customer qualification, process know-how). Deep automaker design-win qualification cycles for safety-critical ADAS chips.
Headquarters: Beijing, China · Founded: 2015 · Employees: 2,215
Size Horizon Robotics (9660.HK) is a Hong Kong Information Technology company (Packaged Software) with a market value of $7.61B, the 202nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$3.78 on 6 Nov 2026.
Performance Over six months the shares fell 47.8%, against +10.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 45.7% over the last twelve months (peer median +19.6%); the operating margin is -101.1% (peer median 11.2%).
Valuation It trades at 159.5× forward earnings against a peer median of 47.0× (3rd most expensive of 19).
Capital Return on invested capital runs 52.7 points below its cost of capital (17.3% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$4.74B | HK$4.08B | HK$2.58B | HK$1.73B | HK$1.07B |
| Revenue growth | — | +58% | +49% | +62% | — |
| Gross profit | HK$2.96B | HK$2.38B | HK$1.71B | HK$975M | HK$529M |
| EBITDA | -HK$4.32B | -HK$3.94B | -HK$2.04B | -HK$1.85B | -HK$1.88B |
| Net income | -HK$1.42B | -HK$11.4B | HK$2.54B | -HK$7.45B | -HK$10.1B |
| Free cash flow | -HK$3.79B | -HK$2.80B | -HK$1.33B | -HK$1.65B | -HK$2.46B |
| Capital expenditure | HK$955M | HK$761M | HK$989M | HK$502M | HK$639M |
| Total debt | n/a | HK$17.3B | HK$7.61B | HK$43.5B | HK$30.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Horizon Robotics 9660.HK | $7.61B | -48% | +46% | -101% | 159.5× | n/a |
| Mobileye Global MBLY | $4.87B | -38% | +3% | -18% | 13.5× | 1.8% |
| Nvidia NVDA | $4.50T | -13% | +83% | 65% | 15.5× | 26.3% |
| Black Sesame International 2533.HK | $555M | -66% | +73% | -148% | n/a | n/a |
| Qualcomm QCOM | $177B | -24% | +2% | 24% | 17.0× | 15.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 9660.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.4% | +0.9% | 8th lowest of 21 |
| 6-month return | -47.8% | +10.1% | 2nd lowest of 21 |
| Distance from 52-week high | -61.4% | -26.5% | 2nd lowest of 21 |
| Revenue growth (TTM) | +45.7% | +19.6% | 3rd highest of 21 |
| Operating margin | -101.1% | 11.2% | 2nd lowest of 21 |
| Forward P/E | 159.5× | 47.0× | 3rd most expensive of 19 |
| ROIC minus cost of capital | -52.7 pp | +0.1 pp | 2nd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Horizon Robotics 9660.HK | Hong Kong | $7.61B | -48% | +46% | -101% | 159.5× | n/a | n/a |
| SentinelOne S | United States | $7.58B | +31% | +21% | -26% | 54.7× | 53.7% | +60.8% |
| Clear Secure YOU | United States | $7.55B | -2% | +23% | 26% | 24.2× | 15.8% | +31.3% |
| Dropbox DBX | United States | $7.54B | +20% | 0% | 26% | 11.1× | -5.0% | +5.7% |
| Empyrean Technology 301269.SZ | China | $7.70B | +5% | +15% | -10% | 357.4× | n/a | n/a |
| Duolingo DUOL | United States | $7.51B | +49% | +23% | 12% | 52.6× | 19.8% | +45.0% |
| Oracle Corporation Japan 4716.T | Japan | $7.73B | +10% | +10% | 32% | 17.0× | -6.9% | +6.5% |
| Zeta Global ZETA | United States | $7.79B | +81% | +36% | 3% | 28.2× | 49.7% | +28.8% |
| Technology One TNE.AX | Australia | $7.40B | +15% | +14% | 29% | 56.7× | 33.3% | +14.9% |
| Sangfor Technologies 300454.SZ | China | $7.84B | +5% | +21% | 2% | 71.4× | 46.1% | +6.9% |
| ServiceTitan TTAN | United States | $7.89B | +36% | +23% | -13% | 55.6× | 20.7% | +27.1% |
| InterDigital IDCC | United States | $7.35B | +2% | -12% | 45% | 41.4× | 13.4% | +18.4% |
| Kunlun Tech 300418.SZ | China | $7.33B | -21% | +48% | -21% | 1,291.3× | n/a | n/a |
| Gitlab GTLB | United States | $8.01B | +85% | +23% | -8% | 55.0× | 18.8% | +44.4% |
| Descartes Systems DSG.TO | Canada | $8.10B | +32% | +12% | 33% | 37.9× | 4.4% | +16.8% |
| Square Enix 9684.T | Japan | $7.02B | +25% | +1% | 20% | 26.9× | -5.4% | -2.1% |
| MiniMax 0100.HK | Hong Kong | $7.00B | -81% | +159% | -407% | n/a | n/a | n/a |
| Xero XRO.AX | Australia | $8.36B | -13% | +27% | 13% | 66.7× | 25.9% | +25.3% |
| Snap SNAP | United States | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% | +18.8% |
| Nemetschek NEM.DE | Germany | $8.39B | +10% | +13% | 26% | 29.9× | 11.1% | +14.8% |
| CSG Digital Power Grid Research Institute 301638.SZ | China | $8.52B | -37% | +18% | 10% | n/a | 18.0% | +8.2% |