| Stock Name | Horizonrobot-W |
|---|---|
| Stock Code | 09660 |
| Company Full Name | Horizon Robotics |
| Industry | 軟件服務 |
| Principal Activities | 公司是市場領先的乘用車高級輔助駕駛（「ADAS」）和高階自動駕駛（「AD」）解決方案提供商，擁有專有的軟硬件技術。 |
| Listing Date | 2024-10-24 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | 8A不同投票权 |
| Weighted Voting Rights (WVR) | Yes |
| Registered Address (Mainland China) | 中國北京市海淀區豐豪東路9號2號樓A座 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | https://www.horizon.auto/ |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | (852)2980 1333 |
| A-Share/US Dual Listing | No |
| Offering Mechanism | 8A不同投票权 |
|---|---|
| Offer Price | HK$ 3.99 / shares |
| Offer Price Range | To be extracted |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | To be extracted |
| Global Offering Shares | To be extracted |
| HK Public Offer Shares (Initial) | To be extracted |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | To be extracted |
| Offer Ratio | To be extracted |
| Total Shares Post-IPO | To be extracted |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 31.6% |
| Clawback Tiers | To be extracted |
| Reallocation Option | No |
| Total Global Offering Size | HK$ 811,032,138 |
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 600 | HK$ 2,394 |
| 2 lots | 1,200 | HK$ 4,788 |
| 3 lots | 1,800 | HK$ 7,182 |
| 4 lots | 2,400 | HK$ 9,576 |
| 5 lots | 3,000 | HK$ 11,970 |
| 6 lots | 3,600 | HK$ 14,364 |
| 7 lots | 4,200 | HK$ 16,758 |
| 8 lots | 4,800 | HK$ 19,152 |
| 9 lots | 5,400 | HK$ 21,546 |
| 10 lots | 6,000 | HK$ 23,940 |
| 15 lots | 9,000 | HK$ 35,910 |
| 20 lots | 12,000 | HK$ 47,880 |
| 25 lots | 15,000 | HK$ 59,850 |
| 30 lots | 18,000 | HK$ 71,820 |
| 35 lots | 21,000 | HK$ 83,790 |
| 40 lots | 24,000 | HK$ 95,760 |
| 45 lots | 27,000 | HK$ 107,730 |
| 50 lots | 30,000 | HK$ 119,700 |
| 75 lots | 45,000 | HK$ 179,550 |
| 100 lots | 60,000 | HK$ 239,400 |
| 125 lots | 75,000 | HK$ 299,250 |
| 150 lots | 90,000 | HK$ 359,100 |
| 175 lots | 105,000 | HK$ 418,950 |
| 200 lots | 120,000 | HK$ 478,800 |
| 225 lots | 135,000 | HK$ 538,650 |
| 250 lots | 150,000 | HK$ 598,500 |
| 500 lots | 300,000 | HK$ 1,197,000 |
| 750 lots | 450,000 | HK$ 1,795,500 |
| 1,000 lots | 600,000 | HK$ 2,394,000 |
| 1,250 lots | 750,000 | HK$ 2,992,500 |
| 1,500 lots | 900,000 | HK$ 3,591,000 |
| 1,750 lots | 1,050,000 | HK$ 4,189,500 |
| 2,000 lots | 1,200,000 | HK$ 4,788,000 |
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,250 lots | 1,350,000 | HK$ 5,386,500 |
| 2,500 lots | 1,500,000 | HK$ 5,985,000 |
| 5,000 lots | 3,000,000 | HK$ 11,970,000 |
| 7,500 lots | 4,500,000 | HK$ 17,955,000 |
| 10,000 lots | 6,000,000 | HK$ 23,940,000 |
| 12,500 lots | 7,500,000 | HK$ 29,925,000 |
| 15,000 lots | 9,000,000 | HK$ 35,910,000 |
| 17,500 lots | 10,500,000 | HK$ 41,895,000 |
| 20,000 lots | 12,000,000 | HK$ 47,880,000 |
| 22,500 lots | 13,500,000 | HK$ 53,865,000 |
| 25,000 lots | 15,000,000 | HK$ 59,850,000 |
| 50,000 lots | 30,000,000 | HK$ 119,700,000 |
| 112,926 lots | 67,755,600 | HK$ 270,344,844 |
| HK Market Cap | HK$ 106.82B |
|---|---|
| Analysis Result | Already included in Stock Connect (both, shenzhen, shanghai) |
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | To be extracted |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | HK$ 4.1 |
|---|---|
| First Day Open | HK$ 5.12 |
| First Day Change | 2.76% |
| First Day Volume | 493171000.0 |
| First Day Turnover | 2384390000.0 |
| Use of Proceeds | 1、約70%或約3,480.4百萬港元將于未來五年內分配用于研發用途； 2、約10%或約497.2百萬港元將在未來五年內分配用于銷售及營銷相關開支； 3、約10%或約497.2百萬港元將用于未來五年內戰略投資合營企業（尤其是酷睿程），從而拓展并增強技術能力； 4、約10%或約497.2百萬港元將分配用于一般公司用途及營運資金需求。 |
|---|
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | Alisoft China Holding Limited | 388,330,740 HKD | — | 7.18% | — | 6 months | 2025-04-24 |
| 2 | Baidu (Hong Kong) Limited | 388,330,740 HKD | — | 7.18% | — | 6 months | 2025-04-24 |
| 3 | JSC International Investment Fund SPC | 853,082,748 HKD | — | 15.78% | — | 6 months | 2025-04-24 |
| 4 | PARTICIPATIONS 1 | 76,873,734 HKD | — | 1.42% | — | 6 months | 2025-04-24 |
| Chairman | 余凱 |
|---|---|
| Company Secretary | 趙奇,蘇嘉敏 |
| Major Shareholders & Holdings | 余凱(13.30%),僱員持股平臺(11.09%),SAIC QIJUN I Holdings Limited(7.87%) |
|---|
市场情绪
The IPO was 33.83x oversubscribed, reflecting intense market enthusiasm. Despite such high demand, the 100% hit rate indicates that all applicants received at least a small allocation, likely driven by the clawback reallocation. This broad distribution tempers the apparent scarcity suggested by the oversubscription ratio. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
申购档位分析
A notable anomaly emerges at the A-tail/B-head boundary: A-tail applicants who invested HK$1,200,000 expected exactly 1.0 lot, while B-head applicants investing HK$1,350,000 expected only 0.75 lots. This inverse relationship implies that smaller A-tail bets were more efficient than larger B-head applications, contrary to typical tier structures. Broker fee efficiency varies significantly depending on tier selection, and actual costs may alter net returns. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
申购人群画像
Mainland Chinese investors dominated the applicant pool at 85.7%, signaling strong cross-border interest in this tech IPO. Males accounted for 71.1% of applicants, and the average age was 38.2, painting a demographic of predominantly middle-aged male participants. While regional data is not specified, such high mainland participation often correlates with Guangdong-based investors. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)
