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<Research>UOB Kay Hian Favors HORIZONROBOT-W in CN Mkt, Initiating Rating Buy
Recommend 63 Positive 118 Negative 50 |
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According to UOB Kay Hian's research report, since HORIZONROBOT-W (09660.HK) possesses unique software and hardware integration capabilities in Mainland China, the broker expects its advanced driver assistance system (ADAS) chip solutions to capture a 54% market share among Chinese automakers by 2027 by leveraging the localization advantage of automotive chips and penetrating more mass-market electric vehicles (EVs). UOB Kay Hian has initiated coverage on HORIZONROBOT-W with a Buy rating and a target price of HKD7.45. As leading automakers like BYD COMPANY (01211.HK) (002594.SZ) promote mass-market EVs priced over RMB100,000 equipped with advanced intelligent driving, HORIZONROBOT-W's Journey solutions have already been deployed in over one million BYD vehicles. It is expected that the company will further penetrate the market segment priced RMB100,000-200,000, accounting for 38.5% of the total EV market in China. AAStocks Financial News |
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