Chinese autonomous driving company Momenta cleared its HKEX listing hearing, reporting 2025 revenue of RMB 2.4 billion, up 82% from a year earlier.
The company provides mass-production vehicle solutions focused on urban NOA and autonomous taxi services, according to its post-hearing information pack. It had established partnerships with 24 global automakers as of last year, covering all of China's top 10 carmakers including SAIC Motor, Geely Auto and Great Wall Motor.
Gross margin leaped to 71.6% in 2025 from 49% in 2024. The company still recorded a net loss of RMB 3.5 billion, though its non-IFRS adjusted loss narrowed to RMB 303 million from RMB 959 million a year earlier. CICC and Deutsche Bank are acting as joint sponsors.
Momenta counts SAIC Motor, General Motors and Mercedes-Benz Group among its pre-IPO investors, holding 9.45%, 9.37% and 6.39% stakes respectively. Other backers include Ant Group, Tencent, Temasek and Toyota Motor. The company did not disclose the offer price, deal size or listing date in the hearing filing.
The hearing clearance moves Momenta closer to a Hong Kong main board listing that will test investor appetite for autonomous driving technology amid a crowded field of Chinese EV and ADAS companies. Investors will watch for the final offer price and first-day trading performance as the next catalysts.
This article is for informational purposes only and does not constitute investment advice.
