On June 3, Horizon Robotics-W fell 3.08% in regular trading, trading at HK$5.36/share, with trading volume of HK$303 million, extending recent weakness.

On the news front, the company's annual earnings report revealed a full-year net loss of RMB 10.469 billion, swinging from profit to loss, with operating losses widening to RMB 3.339 billion. Product business gross margin declined sharply from 46.4% to 34.5%, a drop of nearly 12 percentage points, fueling persistent market concerns over profitability prospects. Although the company previously open-sourced the HoloMotion-1 robot cerebellum model and executed cumulative share buybacks exceeding HK$270 million, the short-term sentiment boost has clearly faded. Additionally, mid-to-long-term competitive risks from OEM customers developing proprietary chips continue to pressure the company's valuation, collectively contributing to the sustained stock price decline.

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