Momenta Global Limited (Momenta-W, 06880) released its 2026 interim results for the six months ended 30 June 2026.
Financial Performance • Revenue surged 75.9% year-on-year to RMB1.60 billion, driven by strong growth in technical development services (RMB0.99 billion, +81.5%) and licensing fees (RMB0.61 billion, +67.5%).
• Gross profit rose 79.4% to RMB1.17 billion, lifting gross margin to 73.2% from 71.8% a year earlier.
• Statutory loss expanded to RMB16.54 billion, primarily reflecting a RMB16.31 billion fair-value loss on outstanding preferred shares ahead of the company’s July listing.
• Adjusted loss (non-IFRS) narrowed 96.6% to RMB14.10 million, versus RMB415.86 million in 1H25.
• Net cash used in operating activities declined 46.8% to RMB381.07 million.
Operating Highlights • Cumulative installations of Momenta’s mass-production AD solutions surpassed 1.00 million vehicles; 321,000 units were added in 1H26, up 83.7% year-on-year.
• The company delivered 37 additional vehicle models during the period, taking the total to 105 models across 26 OEM customers and securing 49 new nominations, bringing cumulative nominations to 219.
• Overseas expansion continued with solutions now deployed in 10 international markets; Robotaxi testing or operations commenced in six cities across three countries.
Innovation & R&D • R&D spending reached RMB1.16 billion, representing 72.6% of revenue. Momenta’s R&D team numbered 1,102 employees, 79.1% of the total workforce.
• The firm unveiled its next-generation Momenta R7 World Model, slated for vehicle deployment from 3Q26 and for broader application across Robovan and Robotaxi fleets within the year.
Balance Sheet and Liquidity • Cash, term deposits, restricted deposits and wealth-management products totaled RMB10.29 billion at 30 June 2026.
• Following period-end, Momenta completed its Hong Kong IPO on 8 July 2026, raising HK$5.66 billion (approximately RMB4.91 billion) in net proceeds; all preferred shares converted to ordinary shares upon listing.
Outlook • The company targets L3 functionality on mass-produced vehicles in 2027, supported by ongoing collaborations with multiple OEMs.
• Scale-up of Robovan commercialization is expected in 2H26, while the first mass-produced Robotaxi model equipped with the R7 World Model is scheduled for 4Q26.
Dividend No interim dividend was declared.
Corporate Governance Momenta confirms compliance with the Corporate Governance Code since its listing and maintains independent non-executive director representation exceeding required thresholds.
Comments