Horizon Continental Technology Completes Hundreds of Millions of Yuan in Financing, Led by Hillhouse Investment, with CICC Porsche Fund and Zhejiang Financial Control as Follow-up Investors

On March 12, 2025, Horizon Continental Technology, a global leading intelligent driving system supplier, announced the completion of hundreds of millions of yuan in angel round equity financing. This round of financing was led by Hillhouse Investment, with follow-up investors including CICC Porsche Fund and Zhejiang Financial Control, marking CICC Porsche's first investment in China.

Horizon Continental Technology was established as a joint venture between Horizon Robotics and Continental Group. Upholding the mission of "equal access to intelligent driving, making travel safer and more convenient for everyone globally," and aspiring to become an industry leader that brings leading intelligent driving products to every continent, the company is committed to becoming a global leading intelligent driving system supplier by integrating the unique resources and advantages of its two parent companies.

Since its establishment in 2022, Horizon Contiental Technology has completed mass production of several vehicle projects and obtained multiple automotive industry system certifications. It has launched a global business layout centered on two intelligent driving product lines: Luna and Astra:

· Luna is an L2-level assisted driving product focusing on active safety and basic driving/parking functions. It meets the regulations and safety standards of markets worldwide, aiming to enhance the safety and comfort of daily driving.

· Astra is an L2++ intelligent driving product supporting advanced intelligent driving functions such as urban NOA (Navigate on Autopilot), highway NOA, and memory parking, providing users with safer, more comfortable, and convenient safeguards and experiences in daily driving.

Committed to the mission of intelligent driving equal rights, Horizon Continental Technology provides OEM customers and end-users with intelligent driving products covering global markets, all vehicle types, and full scenarios through fully self-developed end-to-end algorithms, cost-effective hardware solutions, and flexible scalable software architectures, truly achieving technological inclusiveness.

Views from Investors:

Hillhouse Investment Representative:"Hillhouse has long focused on investment opportunities in the intelligent driving sector and has witnessed the technological breakthroughs and significant opportunities in the intelligent driving industry over the past decade through its investment layout. We believe the company will explore a better joint venture model to go global, and with its excellent technical strength and innovative capabilities, it will achieve rapid development and become a leading enterprise in the intelligent driving industry."

CICC Porsche Fund Representative:"As the first project investment of CICC Porsche Fund in China, we fully recognize the team's outstanding brand, excellent mass production capabilities, deep accumulation in intelligent driving technology, and continuous support from initiating shareholders. We deeply believe the company will stand out in the intelligent driving industry wave and become an excellent industry leader."

Chairman of Zhejiang Jintou Dingxin Private Equity Fund Management Co., Ltd.："Horizon Continental Technology was established as a joint venture by two leading industrial enterprises, Horizon Robotics and Continental Group. Its core team originates from both companies, possessing rich experience in intelligent driving product development, commercialization, supply chain management, etc. Relying on Horizon's computing solutions and Continental Group's global channel resources and product advantages, iDriveContinent has laid a solid foundation for creating cost-effective and highly reliable intelligent driving products, seizing the first-mover advantage in overseas markets, and achieving a '1+1>2' commercial synergy. Against the backdrop of the global intelligent driving wave, the company's future development is highly anticipated."

Statement by Horizon Continental Technology CEO Li Biao"In this magnificent wave of technological revolution, the intelligent driving industry has experienced a decade of rapid development, undoubtedly shining as a dazzling star and bringing many positive impacts to human society. The rise of intelligent driving has become a key breakthrough for the practical application of intelligent technologies, strongly promoting the vigorous development of the industrial chain. It imposes extremely high requirements on core technologies such as computing platforms, sensors, and algorithms, urging related enterprises to increase R&D investment, continuously break through technical bottlenecks, and enhance technical performance and efficiency.Horizon Continental Technology upholds the mission of intelligent driving equal rights and is committed to playing a key role in accelerating the benefits of intelligent driving technologies to the public in this process. Our goal is to provide global users with safe, convenient, and ultimate travel experiences."

Through this round of financing, Horizon Continental Technology will accelerate R&D investment in intelligent driving technologies and the pace of overseas market expansion. In 2024, the company newly secured mass production orders from 5 domestic and foreign OEMs, and vehicle models equipped with its products will be launched successively in 2025. In the future, Horizon Continental Technology will leverage its leading intelligent driving technologies and products to assist OEM customers in creating globally leading intelligent vehicle models, enabling more users to enjoy the safety, comfort, and convenience brought by intelligent driving.