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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Horizon Robotics
Horizon Robotics (9660) investor relations material
Horizon Robotics H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary31 Aug, 2026
Executive summary
Revenue for H1 2026 reached RMB 2,055.0 million, up 32.9% year-over-year, with gross profit at RMB 1,356.1 million and gross margin steady at 66.0%.
Net profit was RMB 3,783.9 million, reversing a loss of RMB 5,233.0 million in H1 2025, mainly due to fair value gains and a one-off gain from D-Robotics deconsolidation.
Adjusted operating loss (non-IFRS) was RMB 1,275.6 million; adjusted net loss was RMB 1,671.2 million, reflecting continued high R&D investment.
Market share in ADAS among Chinese domestic brands surpassed 50%, and urban NOA computing platform share rose to 22.8%.
Significant overseas expansion with over 60 export model nominations and deepened partnerships with Volkswagen, Toyota, Honda, and other global automakers.
Financial highlights
Product solution revenue reached RMB 925.6 million (+14.8% YoY); license and service revenue was RMB 1,129.4 million (+52.7% YoY).
License and service segment delivered a gross margin of 90.4%; product solutions segment at 36.2%, or 48.1% excluding one-time bundling impact.
R&D expenses were RMB 2,755.0 million (+21.9% YoY); cash and cash equivalents stood at RMB 14.9 billion as of June 30, 2026.
Gearing ratio was 39.8% (down from 58.7% at year-end 2025); net cash outflow from operating activities was RMB 2,797.9 million.
Weighted average basic EPS was RMB 0.27 (vs. -RMB 0.42 in H1 2025).
Outlook and guidance
Confident in achieving full-year revenue of over RMB 5 billion for 2026 and breakeven targeted for 2028.
Expects further market share gains in advanced NOA and full-vehicle intelligence solutions over the next 12 months.
Mass production of cockpit-driving integrated intelligence solution planned for Q4 2026; L4 Robotaxi pilot project to launch in 2026; Journey 7 SoC for L3/L4 scenarios to debut in 2027.
Targeting 70%-80% share on core customers' entry-level AD vehicle models in H2 2026.
Expecting chip shipments to reach 5 million units in 2026 and over 7 million in 2027.
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Latest events from Horizon Robotics
- Revenue up 57.7% to CNY 3.8B, strong market share, but net loss widened on R&D and fair value changes.9660
H2 2025 - Revenue up 67.6% year-over-year, with strong shipment growth and higher R&D investment.9660H1 2025
- Revenue up 53.6% to RMB 2.4B, gross margin 77.3%, 2025 delivery volume to exceed 10M units.9660H2 2024
Next Horizon Robotics earnings date
H2 202618 Mar, 2027
Horizon Robotics
Next Horizon Robotics earnings date
H2 202618 Mar, 2027
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Frequently asked questions
Horizon Robotics is a Chinese company focused on the development of edge artificial intelligence (AI) computing solutions. The company designs and manufactures AI processors and software platforms optimized for applications in smart mobility, autonomous driving, and intelligent devices. Its product portfolio includes AI chips and integrated systems that enable real-time processing and decision-making at the device level. The company is headquartered in Beijing, China, and its shares are listed on the Shanghai Stock Exchange.