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<Research>UOB Kay Hian: HORIZONROBOT-W (09660.HK) TP Dropped to $8.45 as 2025 Rev. Beats
Recommend 11 Positive 14 Negative 7 |
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HORIZONROBOT-W (09660.HK)'s 2025 revenue grew by 57.7% YoY to RMB3.76 billion, 6.8% higher than UOB Kay Hian's expectation, mainly driven by strong growth in hardware shipments, UOB Kay Hian released a research report saying. During the period, hardware shipments increased by 38.8% YoY to 4.01 million units, with the highway and urban NOA solutions shipments spiking 4.8x YoY, accounting for 45% of the 2025 shipments and contributing over 80% to product and solution sales. License and services revenue rose by 17.4% YoY to RMB1.94 billion, mainly driven by increased intellectual property (IP) licensing arrangements from tier-one supplier clients. Therefore, the broker kept rating at Buy on HORIZONROBOT-W, and dropped its target price from $8.88 to $8.45. AASTOCKS Financial News Website: www.aastocks.com |
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