What happened in China On December 31, 2025, Horizon Continental Technology Shanghai Co., Ltd. — trading as neueHCT — closed a financing round worth nearly $200 million. The round was led by a consortium including Yunfeng Capital, Fortune Capital, and Chaos Investment, with strategic shareholders AUMOVIO and Horizon Robotics both increasing their stakes. An earlier market-driven round had already closed in early 2025, meaning the company raised two successive rounds within a single calendar year. The company's roots matter here. neueHCT was founded as a joint initiative between Horizon Robotics, one of China's leading automotive AI chip designers, and AUMOVIO — the entity that spun off from Continental AG in September 2025. That spin-off is itself a signal worth noting: one of Europe's most storied automotive suppliers restructured itself and redirected a significant piece of its China business into a locally capitalised, locally governed venture. The resulting entity then…