Horizon Robotics (HORIZON) balance sheet

HKSE · Technology · Software - Application · 2,215 employees · CEO Kai Yu

Price: HK$3.69 +8.05%
Market cap: HK$58.6B
Enterprise value: CN¥43.2B
Last report: Q2 '26 filed 2026-06-30
Next report: 2027-03-19 EPS est. -CN¥0.18

At the end of Q2 '26 Horizon Robotics (HORIZON) held CN¥15B in cash and short-term investments against CN¥8.48B of debt incl. leases. Total assets CN¥27.2B, total liabilities CN¥10.8B, shareholders' equity CN¥16.4B.

Balance sheet

Balance sheet	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Assets
Cash & equivalents	CN¥11.4B	CN¥11.4B	CN¥10.5B	CN¥10.5B	CN¥15.4B	CN¥15.4B	CN¥16.1B	CN¥16.1B	CN¥20.2B	CN¥20.2B	CN¥14.9B	CN¥14.9B
Short-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥26.9M	CN¥26.9M	CN¥14.9M	CN¥123M	CN¥642M	CN¥642M	CN¥181M	CN¥181M
Receivables	CN¥541M	CN¥561M	CN¥688M	CN¥690M	CN¥679M	CN¥687M	CN¥1.09B	CN¥2.07B	CN¥1.76B	CN¥2B	CN¥2.43B	CN¥2.43B
Inventory	CN¥791M	CN¥789M	CN¥703M	CN¥702M	CN¥585M	CN¥565M	CN¥792M	CN¥780M	CN¥1.07B	CN¥1.07B	CN¥1.32B	CN¥1.32B
Other current assets	CN¥846M	CN¥735M	CN¥901M	CN¥805M	CN¥534M	CN¥84.4M	CN¥1.11B	-CN¥150M	CN¥459M	CN¥91.5K	CN¥5.2M	CN¥551M
Current assets	CN¥13.5B	CN¥13.5B	CN¥12.7B	CN¥12.7B	CN¥17.2B	CN¥17.2B	CN¥19.2B	CN¥19.2B	CN¥24.1B	CN¥24.1B	CN¥19.4B	CN¥19.3B
Property, plant & equipment (net)	CN¥651M	CN¥597M	CN¥770M	CN¥727M	CN¥985M	CN¥943M	CN¥1.12B	CN¥1.06B	CN¥1.23B	CN¥1.23B	CN¥1.51B	CN¥1.51B
Long-term investments	CN¥1.19B	CN¥1.19B	CN¥939M	CN¥939M	CN¥1.67B	CN¥0	CN¥2.66B	CN¥2.95B	CN¥4.8B	CN¥4.81B	CN¥5.75B	CN¥5.75B
Intangible assets	CN¥303M	CN¥373M	CN¥284M	CN¥354M	CN¥320M	CN¥389M	CN¥278M	CN¥305M	CN¥239M	CN¥273M	CN¥249M	CN¥249M
Deferred tax assets	CN¥0	CN¥100M	CN¥0	CN¥101M	CN¥0	CN¥107M	CN¥0	CN¥104M	CN¥0	CN¥106M	CN¥0	CN¥68.4M
Other non-current assets	CN¥194M	CN¥78.1M	CN¥217M	CN¥87.8M	CN¥210M	CN¥1.74B	CN¥176M	-CN¥184M	CN¥224M	CN¥79.5M	CN¥355M	CN¥284M
Non-current assets	CN¥2.34B	CN¥2.34B	CN¥2.21B	CN¥2.21B	CN¥3.18B	CN¥3.18B	CN¥4.23B	CN¥4.23B	CN¥6.49B	CN¥6.5B	CN¥7.86B	CN¥7.86B
Total assets	CN¥15.9B	CN¥15.9B	CN¥15B	CN¥15B	CN¥20.4B	CN¥20.4B	CN¥23.4B	CN¥23.4B	CN¥30.6B	CN¥30.6B	CN¥27.2B	CN¥27.2B
Liabilities
Accounts payable	CN¥11.2M	CN¥11.2M	CN¥13.6M	CN¥13.6M	CN¥14.6M	CN¥14.6M	CN¥88M	CN¥88M	CN¥234M	CN¥234M	CN¥173M	CN¥173M
Accrued expenses	CN¥700M	CN¥0	CN¥426M	CN¥0	CN¥615M	CN¥0	CN¥694M	CN¥0	CN¥1.25B	CN¥459M	CN¥1.5B	CN¥367M
Short-term debt	CN¥39.2B	CN¥5.73B	CN¥43.8B	CN¥5.99B	CN¥219M	CN¥14.7M	CN¥566M	CN¥64.1M	CN¥14.9B	CN¥12.5B	CN¥7.74B	CN¥7.74B
Taxes payable	CN¥0	CN¥143M	CN¥0	CN¥37.9M	CN¥0	CN¥30.1M	CN¥0	CN¥33.3M	CN¥0	CN¥0	CN¥0	CN¥0
Deferred revenue	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥266M	CN¥0	CN¥230M
Other current liabilities	CN¥249M	CN¥33.9B	CN¥122M	CN¥38.1B	CN¥358M	CN¥875M	CN¥143M	CN¥880M	CN¥392M	CN¥3.32B	CN¥230M	CN¥1.13B
Current liabilities	CN¥40.3B	CN¥40.3B	CN¥44.4B	CN¥44.4B	CN¥1.28B	CN¥1.28B	CN¥1.58B	CN¥1.58B	CN¥16.9B	CN¥16.9B	CN¥9.72B	CN¥9.72B
Long-term debt	CN¥113M	CN¥113M	CN¥244M	CN¥244M	CN¥6.78B	CN¥6.78B	CN¥10.1B	CN¥10.1B	CN¥508M	CN¥508M	CN¥571M	CN¥571M
Lease obligations (non-current)	CN¥112M	CN¥112M	CN¥89M	CN¥89M	CN¥81.5M	CN¥81.5M	CN¥74.3M	CN¥74.3M	CN¥42.7M	CN¥42.7M	CN¥86.9M	CN¥86.9M
Deferred revenue (non-current)	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥528M	CN¥0	CN¥0
Deferred tax liabilities	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥1.63M	CN¥0	CN¥5K	CN¥0	CN¥16K	CN¥0	CN¥4.4M
Other non-current liabilities	CN¥62M	CN¥62M	CN¥47.6M	CN¥47.6M	CN¥329M	CN¥327M	CN¥209M	CN¥209M	CN¥545M	CN¥16.9M	CN¥446M	CN¥442M
Non-current liabilities	CN¥287M	CN¥287M	CN¥380M	CN¥380M	CN¥7.19B	CN¥7.19B	CN¥10.4B	CN¥10.4B	CN¥1.1B	CN¥1.1B	CN¥1.1B	CN¥1.1B
Total liabilities	CN¥40.5B	CN¥40.5B	CN¥44.8B	CN¥44.8B	CN¥8.46B	CN¥8.46B	CN¥12B	CN¥12B	CN¥18B	CN¥18B	CN¥10.8B	CN¥10.8B
Equity
Common stock & paid-in capital	CN¥39K	CN¥39K	CN¥39K	CN¥39K	CN¥205K	CN¥205K	CN¥228K	CN¥228K	CN¥242K	CN¥242K	CN¥245K	CN¥245K
Retained earnings	-CN¥25.6B	-CN¥25.6B	-CN¥30.7B	-CN¥30.7B	-CN¥22.8B	-CN¥22.8B	-CN¥28B	-CN¥28B	-CN¥33.3B	-CN¥33.3B	-CN¥29.4B	-CN¥29.4B
Accumulated other comprehensive income	CN¥758M	CN¥0	CN¥707M	CN¥707M	CN¥615M	CN¥0	CN¥60.5M	CN¥0	CN¥266M	CN¥0	CN¥91M	CN¥91M
Shareholders' equity	-CN¥24.7B	-CN¥24.7B	-CN¥29.8B	-CN¥29.8B	CN¥11.9B	CN¥11.9B	CN¥11.4B	CN¥11.4B	CN¥12.6B	CN¥12.6B	CN¥16.4B	CN¥16.4B
Debt
Total debt (incl. leases)	CN¥39.5B	CN¥6.01B	CN¥44.2B	CN¥6.37B	CN¥7.15B	CN¥6.94B	CN¥10.9B	CN¥10.4B	CN¥15.6B	CN¥13.1B	CN¥8.48B	CN¥8.48B
Net debt (debt - cash)	CN¥28.2B	-CN¥5.35B	CN¥33.7B	-CN¥4.08B	-CN¥8.22B	-CN¥8.43B	-CN¥5.21B	-CN¥5.71B	-CN¥4.64B	-CN¥7.05B	-CN¥6.39B	-CN¥6.39B

Balance sheet	FY21	FY22	FY23	FY24	FY25
Assets
Cash & equivalents	CN¥8.05B	CN¥6.61B	CN¥11.4B	CN¥15.4B	CN¥20.2B
Short-term investments	CN¥1.28B	CN¥1.2B	CN¥0	CN¥26.9M	CN¥642M
Receivables	CN¥170M	CN¥427M	CN¥561M	CN¥687M	CN¥2B
Inventory	CN¥114M	CN¥362M	CN¥789M	CN¥565M	CN¥1.07B
Other current assets	CN¥74.5M	CN¥46.9M	CN¥735M	CN¥84.4M	CN¥91.5K
Current assets	CN¥9.91B	CN¥8.8B	CN¥13.5B	CN¥17.2B	CN¥24.1B
Property, plant & equipment (net)	CN¥241M	CN¥451M	CN¥597M	CN¥943M	CN¥1.23B
Long-term investments	CN¥0	CN¥0	CN¥1.19B	CN¥0	CN¥4.81B
Intangible assets	CN¥267M	CN¥391M	CN¥373M	CN¥389M	CN¥273M
Deferred tax assets	CN¥79.9M	CN¥88.9M	CN¥100M	CN¥107M	CN¥106M
Other non-current assets	CN¥94.9M	CN¥161M	CN¥78.1M	CN¥1.74B	CN¥79.5M
Non-current assets	CN¥683M	CN¥1.09B	CN¥2.34B	CN¥3.18B	CN¥6.5B
Total assets	CN¥10.6B	CN¥9.9B	CN¥15.9B	CN¥20.4B	CN¥30.6B
Liabilities
Accounts payable	CN¥8.04M	CN¥3.82M	CN¥11.2M	CN¥14.6M	CN¥234M
Accrued expenses	CN¥306M	CN¥300M	CN¥0	CN¥0	CN¥459M
Short-term debt	CN¥18.3B	CN¥26.5B	CN¥5.73B	CN¥14.7M	CN¥12.5B
Taxes payable	CN¥13.8M	CN¥32.4M	CN¥143M	CN¥30.1M	CN¥0
Deferred revenue	CN¥5.54M	CN¥62.2M	CN¥0	CN¥0	CN¥266M
Other current liabilities	CN¥207M	CN¥283M	CN¥33.9B	CN¥875M	CN¥3.32B
Current liabilities	CN¥18.9B	CN¥27.2B	CN¥40.3B	CN¥1.28B	CN¥16.9B
Long-term debt	CN¥0	CN¥12.5M	CN¥113M	CN¥6.78B	CN¥508M
Lease obligations (non-current)	CN¥77.3M	CN¥154M	CN¥112M	CN¥81.5M	CN¥42.7M
Deferred revenue (non-current)	CN¥0	CN¥0	CN¥0	CN¥0	CN¥528M
Deferred tax liabilities	CN¥0	CN¥0	CN¥0	CN¥1.63M	CN¥16K
Other non-current liabilities	CN¥7.57M	CN¥15.7M	CN¥62M	CN¥327M	CN¥16.9M
Non-current liabilities	CN¥84.8M	CN¥182M	CN¥287M	CN¥7.19B	CN¥1.1B
Total liabilities	CN¥19B	CN¥27.3B	CN¥40.5B	CN¥8.46B	CN¥18B
Equity
Common stock & paid-in capital	CN¥39K	CN¥39K	CN¥39K	CN¥205K	CN¥242K
Retained earnings	-CN¥10.1B	-CN¥18.8B	-CN¥25.6B	-CN¥22.8B	-CN¥33.3B
Accumulated other comprehensive income	CN¥1.59B	CN¥0	CN¥758M	CN¥0	CN¥0
Shareholders' equity	-CN¥8.39B	-CN¥17.4B	-CN¥24.7B	CN¥11.9B	CN¥12.6B
Debt
Total debt (incl. leases)	CN¥18.5B	CN¥26.7B	CN¥6.01B	CN¥6.94B	CN¥13.1B
Net debt (debt - cash)	CN¥10.4B	CN¥20.1B	-CN¥5.35B	-CN¥8.43B	-CN¥7.05B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Cash, investments and debt

quarter ends

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CNY as reported; price and market cap in HKD.