In today’s briefing:
- Horizon Robotics Pre-IPO – The Positives – Rapid Revenue Growth
- Why Tesla Shows Post Results Rebound of over 10%?
- Horizon Robotics Pre-IPO – The Negatives – Large Part of the Growth Stems from Its JV
Horizon Robotics Pre-IPO – The Positives – Rapid Revenue Growth
- Horizon Robotics is looking to raise US$500m in its upcoming Hong Kong IPO. The bookrunners on the deal are GS, MS and China Securities.
- Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
- In this note, we talk about the positive aspects of the deal.
Why Tesla Shows Post Results Rebound of over 10%?
- Again, Tesla reports a 1Q24 sales with 4% miss but post market share price up more than 10% for 6 reasons. 1. Gross margin was stable on 15% sales drop;
- 2. ASP was stable; 3. Affordable EV on track for 2025; 4. Factory expansion to slow; 5. Optimus to sell end of 2025; 6. 2024 EV shipment higher than 2023.
- Near term risks to remain: 1. When will margin trough? 2. Why bother to buy EV if 2nd hand market collapsing? 3. Will Robotaxi/FSD bring in meaningful sales/profits soon?
Horizon Robotics Pre-IPO – The Negatives – Large Part of the Growth Stems from Its JV
- Horizon Robotics is looking to raise US$500m in its upcoming Hong Kong IPO. The bookrunners on the deal are GS, MS and China Securities.
- Horizon Robotics (HR) is a provider of advanced driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by its proprietary software and hardware technologies.
- In this note, we talk about the not-so-positive aspects of the deal.
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