MOMENTA-W's stock plummeted 5.26% during intraday trading on Thursday, reflecting growing investor concerns over the company's market position and financial sustainability.
The decline comes as industry data shows Momenta's ranking in China's smart driving benchmark has sharply fallen from first place in late 2025 to sixth by early 2026, being overtaken by competitors including Wenyuan, Horizon Robotics, Huawei, XPeng, and Qianli. Analysts note this 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 like Momenta face structural challenges as major automakers including Huawei, BYD, and Li Auto accelerate full-stack in-house development. Despite holding 65% of the third-party city NOA market, Momenta's scarcity value is being diluted. The company remains unprofitable, reporting adjusted net losses of RMB 303 million in 2025 despite revenue reaching RMB 2.41 billion.
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