HORIZONROBOT-W (09660) surged more than 4% in morning trading, reaching HK$7.84 by the time of writing, up 3.7%, with a turnover of HK$457 million.

The rally follows news that on November 13, Exeed Auto's new model, the Exeed ET5, officially opened for pre-sales, becoming the first vehicle globally to feature HORIZONROBOT's HSD urban ADAS system and Journey 6P computing solution.

HORIZONROBOT recently announced that HSD has secured partnerships with over 10 automakers worldwide, covering more than 20 vehicle models. With the commencement of mass production for the first batch of HSD-equipped vehicles, HORIZONROBOT has become the first autonomous driving tech firm to achieve full-scale production across low-, mid-, and high-tier ADAS solutions.

J.P. Morgan previously released a research note stating that HORIZONROBOT's competitive product performance and pricing strategy should help the company continue expanding its market share and driving growth. Additionally, its robotics product line is expected to contribute incremental revenue and support long-term growth.

The bank forecasts a 56% compound annual growth rate (CAGR) for the company's revenue from 2024 to 2027, with annual growth reaching 73% by 2028. This upward trend is likely to further boost the stock price.