Horizon Robotics (9660.HK) stock analysis

In our weekly check, Horizon Robotics is graded D (A to F). Of 22 checks on debt, profit, cash flow and trend: 9 pass, warnings: 3, red flags: 10.

About Horizon Robotics

Horizon Robotics is a Technology company (Software - Application) based in China, listed on HKSE as 9660.HK.

What our checks show for 9660.HK

Red flags

• Operating profit does not cover the interest bill (-414x): interest is paid from cash or new debt.
• The gross margin fell by 6 points, to 64.9%: costs are rising faster than prices.
• Earnings per share fell 28.1% a year over the last 3 years.
• The company is losing money: the net margin is -34%.
• Free cash flow is negative (-44.5% of revenue): the business spends more cash than it brings in.
• The price swings a lot: 50.6% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 68% from a peak. Would you have held through that?
• Beta 2.86: the stock usually moves more than the market, both up and down.
• Return on capital (ROCE) is zero or negative: the business does not earn on the money put into it.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Operating cash flow is negative while the company reports a profit: the profit does not arrive as cash.
• Analysts expect earnings per share to shrink about 62.2% a year.
• The stock is still below its previous peak.

Strengths

• Debt is low: 0.52x equity.
• The net margin rose by 408 points over 5 years, to -34%.
• Analysts expect revenue to grow about 42.1% a year over the next years.
• Analysts expect the net margin to improve by 35.6 points from today's -34%.
• Revenue grew 90.9% a year over the last 3 years.
• Actively traded: about 112 million shares a day.

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Questions

What grade does Horizon Robotics (9660.HK) have?

In our weekly check, Horizon Robotics is graded D (A to F). Of 22 checks on debt, profit, cash flow and trend: 9 pass, warnings: 3, red flags: 10. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 9660.HK stock?

This week's biggest flags for Horizon Robotics: Weak interest cover, Gross margin falling, Weak EPS growth. In total 13 of 22 checks show a warning or a red flag.

What does Horizon Robotics do?

Horizon Robotics is a Technology company (Software - Application) based in China, listed on HKSE as 9660.HK.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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