Horizon Robotics has entered into a new loan agreement with Dr. Kai Yu, the founder and executive director of the company. Under the terms of the agreement dated December 12, 2025, Horizon Robotics will provide a loan in the principal amount of RMB64,026,413.93 to Dr. Kai Yu. The loan will have a term of up to 12 months from the date of drawdown or until an event of default occurs, and will bear interest at the one-year loan prime rate published by the National Interbank. The transaction qualifies as a connected transaction under the Hong Kong Listing Rules but is exempt from certain approval and circular requirements.
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