Momenta, an autonomous-driving company, listed in Hong Kong and reached a market capitalization of HK$70 billion on its first trading day on July 8, 36Kr reported. Founder Cao Xudong said the company has achieved over 50% market share in designated vehicle models and over 60% market share in mass-produced vehicles equipped with its assisted-driving systems.
Momenta's Hong Kong IPO prospectus shows it has accumulated more than 210 designated vehicle models and surpassed 1 million mass-produced vehicles with its technology, while maintaining a headcount of just over 1,000 employees. The company reported gross margin increases over the past three years to 17.5%, 49%, and 71.6%, with revenue doubling year by year and losses narrowing.
Cao also said he planned to bring the price of Momenta's integrated hardware-and-software advanced assisted-driving solution to below 5,000 yuan in 2026, but the target was not met due to rising memory prices, though he said it was close.
Momenta Debuts in Hong Kong, Hits HK$70 Billion Market Cap on July 8
2026-07-09 17:41:07
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