On May 27, Horizon Robotics-W fell 3.45% in regular trading, trading at HK$6.16 per share with trading volume of HK$171 million, halting a multi-day rebound streak.

The decline reflects persistent market concerns stemming from the company's annual results. The full-year report revealed a net loss of RMB 10.469 billion, swinging from profit to loss, while operating losses widened to RMB 3.339 billion, primarily due to fair value changes in preferred shares and financial liabilities. More critically, product business gross margin dropped from 46.4% to 34.5%, a decline of nearly 12 percentage points, raising questions about near-term profitability as the company ramps up mid-to-high-end autonomous driving hardware shipments.

Although the company recently open-sourced HoloMotion-1, a 400-million-parameter robot cerebellar model, and executed cumulative buybacks exceeding HK$270 million, buying momentum has faded. Coupled with mid-to-long-term risks from OEM customers pursuing in-house chip development, valuation pressure remains elevated despite management signaling confidence through ongoing repurchases.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)