Horizon Robotics reported a net profit of RMB 3.78 billion for the six months ended 30 June 2026, reversing a RMB 5.23 billion loss in the prior-year period. The swing reflected a RMB 5.24 billion fair-value gain on financial liabilities and a one-off RMB 2.78 billion gain from the deconsolidation of subsidiary D-Robotics.

Revenue climbed 32.9 % year on year to RMB 2.05 billion, driven by product-solution sales of RMB 925.63 million (up 14.8 %) and licence-and-services income of RMB 1.13 billion (up 52.7 %). Gross profit rose at the same pace to RMB 1.36 billion, with the overall gross margin holding at 66.0 %.

Adjusted operating loss widened 21.4 % to RMB 1.28 billion, while adjusted net loss expanded 25.4 % to RMB 1.67 billion as the company maintained “saturated” R&D spending of RMB 2.75 billion (up 21.9 %).

Cash and cash equivalents stood at RMB 14.87 billion, down from RMB 20.19 billion at year-end 2025, mainly due to a RMB 2.79 billion outflow for investments and a RMB 2.80 billion operating cash burn. Total borrowings increased to RMB 1.36 billion from RMB 528.00 million.

Major business developments included: • Journey SoC shipments rising 12.1 % to 2.22 million units despite a 20.2 % contraction in China’s passenger-vehicle market. • Design wins reaching nearly 500 vehicle models in total, of which about 130 support advanced NOA functions. • Launch of Horizon SuperDrive V2.0 and continued expansion of the “ARM + Android” licensing model, which contributed a 90.4 % gross margin in licence-and-services.

Post-period events: • On 3 August 2026 Volkswagen Group’s CARIAD converted its convertible loan early, receiving a 9.9 % stake and locking up the shares for 12 months; Horizon redeemed excess conversion rights at a discount. • The company issued USD 450 million zero-coupon convertible bonds due July 2027.

No interim dividend was declared.