BRIEFINGS · Chips and AI hardware
Horizon Robotics first-half revenue rises 32.9% to RMB2,055.0 million
Horizon Robotics reported first-half revenue of RMB2,055.0 million, up 32.9%, an operating loss of RMB1,671.5 million, and cash of RMB14.9 billion.
On 31 August 2026 Horizon Robotics, a maker of driver-assistance AI chips and software, reported first-half revenue of RMB2,055.0 million, up 32.9%, and an operating loss from continuing operations of RMB1,671.5 million, against RMB1,504.3 million a year earlier. It said its AI foundation model is the core technological foundation supporting future performance. Cash fell from RMB20.2 billion to RMB14.9 billion. The reported profit of RMB3,783.9 million includes a RMB5,240.6 million gain on fair-value changes of financial liabilities, which the company says was primarily its convertible loan to CARIAD, and a RMB2,778.7 million gain on deconsolidating D-Robotics (Horizon HKEX filing and The Robot Economy).
Why we file it. An AI chip maker reports growing sales and a large loss.
How we read it. Operating loss widened from the year before. Reported profit rests on two non-operating gains.
Why it matters to you: building AI brains for cars is costly.
What this doesn't prove
Company figures: adjusted net loss was RMB1,671.2 million against RMB1,332.5 million (up 25.4% in the company's table). Reported profit includes a RMB5,240.6 million gain on fair-value changes of financial liabilities, which the company says was primarily its convertible loan to CARIAD, and a RMB2,778.7 million gain on deconsolidating D-Robotics (31 March 2026). The filing gives no breakdown of the 26.4% fall in cash.
Next fixture
- Whether revenue growth narrows the operating loss.
Sources
- Interim Results, Six Months to June 202631 August 2026
- Profit masks wider core loss31 August 2026
Every figure above comes from these sources. Every briefing is checked against its sources before it publishes. Nothing here is a recommendation to buy or sell anything, and this is not investment advice. See the disclosures.
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