Daiwa’s research report projected that HORIZONROBOT-W (09660.HK) -0.200 (-2.857%) Short selling $103.52M; Ratio 10.240% will deliver over 4 million Advanced Driver Assistance Systems (ADAS) chips in 2025, compared to 2.9 million in 2024. This includes approximately 1.9 million Horizon Mono chips, 1.9 million Horizon Pilot chips, and 40,000 Horizon SuperDrive chips. Rising shipments and prices of Horizon Pilot are expected to be the core driver of revenue growth this year. BYD COMPANY (01211.HK) -0.600 (-0.156%) Short selling $602.50M; Ratio 20.830% , other manufacturers such as LI AUTO-W (02015.HK) -3.400 (-3.211%) Short selling $721.44M; Ratio 25.518% , Chery, CHANGAN AUTOMOBILE (000625.SZ) -0.100 (-0.804%) , and GAC GROUP (02238.HK) -0.030 (-1.068%) Short selling $6.20M; Ratio 18.599% have also placed orders with Horizon Robotics for 2025 deliveries.Related NewsG Sachs Drops BYD COMPANY's TP to $428, Predicts Intensified Competition to Drag 2Q25 GPM Down by 3 pptsDaiwa reiterated its Buy rating on HORIZONROBOT-W, raising the target price from HKD6.5 to HKD9.6, while lowering 2026-27 net profit forecasts by 28%-57% due to an expected 6-7 ppts reduction in the revenue share from licensing and services. Despite a more cautious stance on ADAS in China’s auto industry following the Xiaomi SU7 accident, Daiwa believed the trend toward smart vehicles will not slow.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-08 16:25.) (A Shares quote is delayed for at least 15 mins.)