Horizon Robotics Stock Surges as Founder Yu Kai Steps Up to Reassure Investors

On June 26, Yu Kai, founder of Horizon Robotics, posted on social media, “Just closed an exceptionally big deal,” sparking market speculation. That day, the company’s stock closed at HK$3.61, down nearly 50% from its March high of HK$6.83. The prolonged decline had been driven by multiple factors, including market sentiment, industry cycles, intensifying competition, and downward pressure on profit expectations. In particular, automakers like BYD advancing their in-house development of intelligent driving chips heightened concerns over shrinking order opportunities for third-party chip suppliers. Following BYD’s launch of its self-developed 4nm intelligent driving chip “Xuanji A3” on May 28, Horizon’s share price dropped more than 7% the next day. On June 29, Horizon’s shares surged nearly 15% throughout the trading day on the Hong Kong Stock Exchange. The same day, the company unveiled its HSD 2.0 system. Yu Kai subsequently made repeated public statements, projecting that around 20 vehicle models equipped with the new system would be delivered this year, with a significant increase expected in 2025. On July 3, the stock rose again by over 9%. Addressing market skepticism, Yu Kai cited Warren Buffett during the company’s annual general meeting on June 10, emphasizing that short-term stock fluctuations do not reflect a company’s true value. He also disclosed that Horizon had repurchased nearly HK$5 billion worth of shares since April 2026 to bolster investor confidence. Regarding the trend of automakers developing their own chips, Yu argued that autonomous driving will evolve toward standardization and industrial specialization, with only about 20% of leading automakers capable of full-stack in-house development, while the remaining 80% will continue relying on third-party suppliers. Zhu Jiangming, founder of Leapmotor, shares a similar view. According to data, Horizon currently ranks second in China in terms of installed volume of intelligent driving domain control chips. After Yu Kai’s June 26 post, a photo circulated online showing him alongside Wang Chuanfu, chairman of BYD, fueling speculation about the identity of the “exceptionally big” partnership he referenced. Horizon emphasized that customer collaborations are the core driver of its business growth, and stock performance is a consequence—not a cause—of its fundamentals.