On June 8, Horizon Robotics fell 3.59% in regular trading, trading at 4.82 HKD/share with trading volume of 178 million HKD, breaking below the psychologically significant 5 HKD level to hit a new recent low.

On the news front, BYD officially announced on May 28 the mass production of Chinas first 4nm automotive-grade autonomous driving chip Xuanji A3, featuring single-chip computing power exceeding 700 TOPS and over 2,100 TOPS when three chips operate in parallel, supporting L3/L4 autonomous driving. As a core customer of Horizon Robotics, BYDs move into self-developed chips has triggered deep market concerns over the outlook for third-party intelligent driving chip suppliers. Since the announcement, Horizon Robotics and peer Black Sesame Intelligence have seen combined market capitalization losses exceeding 8 billion HKD.

Simultaneously, the companys annual report revealed a full-year net loss of 10.469 billion yuan with a shift from profit to loss, while product business gross margin declined nearly 12 percentage points from 46.4% to 34.5%. Despite cumulative share buybacks exceeding 270 million HKD, the short-term boost has clearly faded as multiple headwinds converge to pressure valuation.

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