Chinese autonomous-driving firm Momenta rises 3% in Hong Kong debut
A car equipped with Momenta technology is displayed at the IAA Mobility show in Munich, Germany, in September 2025.
Arjun Kharpal | CNBC
Shares of Chinese autonomous driving firm Momenta rose 3% in its Hong Kong debut at market open on Wednesday.
In the HK$5.89 billion ($751 million) initial public offering, Momenta priced its shares at HK$295.60. announced through its prospectus. It was recently trading at HK$304.
The Suzhou-based autonomous driving company plans to use 60% of its net revenue over the next five years to improve its core technology, including its proprietary algorithms, automation toolchain and Momenta Mainline platform, to remain competitive in the driving automation industry. prospectus.
The company said it plans to allocate 20% of the revenues to accelerate the commercialization and scale development of its solutions for robotaxi services.
The remainder of the proceeds will be allocated to strengthening solutions for mass-produced vehicles, supporting the development of next-generation products and working capital purposes.
Founded in 2016 and led by Chief Executive Officer Cao Xudong, a former researcher at Microsoft Research Asia, the company develops autonomous driving software such as emergency assistance, combined driver assistance and highly autonomous driving.
Momenta has already launched commercial robotaxi services in Shanghai and is expanding its global footprint through strategic partnerships with automakers Audi, Honda and Mercedes-Benz AG. CNBC previously reported that the company had struck a deal with Uber to launch robotaxi services in Europe.
Momenta and Grab signed an agreement strategic partnership The company launched a concerted effort in December to bring advanced autonomous driving technologies to the region’s complex urban mobility markets as it rapidly develops robotaxi technology and moves toward the commercial launch of its robotaxi fleet.
The company generated revenue of 2.41 billion yuan in 2025, up from 1.32 billion yuan in 2024, according to its prospectus.
China International Capital Corporation and Deutsche Bank served as co-sponsors of the opening in Hong Kong.
Along with strategic partner Mercedes-Benz, institutional backers such as GIC, Fidelity International and BlackRock have anchored the IPO as anchor investors, according to the statement.
Momenta, along with Apple supplier Luxshare and semiconductor foundry Nexchip, are part of a wave of companies making their debut on the Hong Kong stock exchange this week, adding momentum to the local tech IPO market.
“We are optimistic about the outlook for the Hong Kong IPO market, driven by improving IPO activity and a robust pipeline,” said Louis Lau, head of KPMG China’s Hong Kong capital markets group. Lau noted that the successful listings of AI-related companies strengthen Hong Kong’s position as one of the top global capital-raising centers for the sector.
