Movement Alert|MOMENTA-W Falls 3.51% in Regular Trading, Valuation Sustainability Questioned as Competitive Ranking Declines

Market Focus07-16

On July 16, MOMENTA-W fell 3.51% in regular trading, trading at HKD 282.0 per share, with turnover of HKD 47.16 million. The stock has continued to drift lower since its IPO debut on July 8.

Market sentiment has been weighed down by growing concerns over whether Momenta can sustain its approximately HKD 700 billion valuation. Industry data reveals that Momenta's ranking in China's smart driving benchmark has slid sharply from first place in late 2025 to sixth by early 2026, successively overtaken by Wenyuan, Horizon Robotics, Huawei, XPeng, and Qianli. Analysts note that the shift reflects a broader industry technology transition toward vehicle-end single-stage end-to-end models paired with cloud-based world models, where newer entrants have moved faster.

Additionally, third-party smart driving suppliers face structural headwinds as major automakers including Huawei, BYD, and Li Auto accelerate full-stack in-house development. While Momenta holds 65% of the third-party city NOA market, its scarcity value is being diluted. The company remains unprofitable, with adjusted net losses of RMB 303 million in 2025 despite revenue reaching RMB 2.41 billion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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