On June 23, Horizon Robotics-W declined 3.13% in regular trading, trading at HK$4.02/share, with turnover of HK$308 million. The stock has now fallen more than 60% from its historical high, continuing to set new lows.

On the news front, BYD previously announced that its self-developed 4nm automotive-grade autonomous driving chip Xuanji A3 has entered mass production, featuring 700 TOPS computing power per chip and over 2,100 TOPS with three chips in parallel. As Horizon Robotics' core customer — with Journey 6 chip annual shipments reaching 2.5 million units — the market is concerned that BYD's in-house chip will directly replace third-party supplier share. Meanwhile, Xpeng and other automakers are also accelerating self-developed autonomous driving chips with plans to supply externally, further intensifying competitive pressure. Additionally, the company's annual report continues to show significant losses, suppressing valuation recovery potential.

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