New stock news | Mengteng Smart Driving passes the hearing of the Hong Kong Stock Exchange and ranks first among all independent intelligent driving solution providers worldwide.

According to the announcement disclosed by the Hong Kong Stock Exchange on June 23rd, MOMENTA GLOBAL LIMITED-W (abbreviated as Momenta) has conducted a hearing for listing on the main board of the Hong Kong Stock Exchange, with CICC and Deutsche Bank as its joint sponsors. According to the prospectus, the company is a leading autonomous driving company that is at the forefront of technology advancement and commercial achievements. According to data from ZhiShi Consulting, the company ranks first among all independent intelligent driving solution providers globally, in terms of both the sales volume of vehicles equipped with the company's urban NOA solution in the past twelve months ending on February 28, 2026, and the cumulative number of production models equipped with the company's urban NOA solution as of February 28, 2026. By 2025, the company is one of the top five participants in the Chinese L2-level assisted driving solution market (including L2-level urban NOA, L2-level highway NOA, and traditional ADAS solutions), and one of the top ten participants in the same market globally. The company focuses on developing and commercializing intelligent driving technology to enhance safety and efficiency in transportation and logistics, including through mass-produced vehicle solutions and scalable autonomous driving applications. The company is currently in the early stages of deploying L3/L4-level autonomous driving solutions and is continuously evolving towards higher levels of automation. The company offers two solutions: (i) deploying the company's solutions in mass-produced vehicles (mass-produced vehicle solutions) and (ii) developing scalable autonomous driving travel and logistics businesses (autonomous taxi service solutions), which are expected to expand to autonomous freight vehicles and autonomous truck services. During the historical period, revenue from autonomous taxi service solutions was not significant to the company's total revenue, as these solutions are still in the early stage of monetization. L2-level assisted driving can be classified into three categories based on the level of automation: L2-level ADAS, L2-level highway NOA, and L2-level urban NOA. By 2025, in terms of sales volume, independent solution providers hold a market share of 28.3% and 33.4% in the global and Chinese L2-level highway NOA and L2-level urban NOA solution markets, respectively. The company's mass-produced vehicle solutions are mainly focused on urban NOA features. Despite operating independently, the mass-produced vehicle solutions and autonomous taxi service solutions, the company is focused on promoting interaction between the two to drive its "one flywheel, two legs" strategy. This strategy creates a flywheel of accelerating technological evolution to support the company's ultimate goal of achieving scalable fully autonomous driving. According to ZhiShi Consulting data, the company is the world's first to adopt the two-legged strategy and validate its commercial feasibility in scalable applications. Over the years, the company has achieved a series of industry firsts, redefining the capabilities of mass-produced intelligent driving solutions. According to ZhiShi Consulting data, the company became the first in 2023 to deploy deep learning planning algorithms in mass-produced passenger vehicles. According to the same source, the company also became the first independent intelligent driving solution provider in 2024 to commercialize end-to-end autonomous driving systems. According to ZhiShi Consulting data, the company is the world's first independent intelligent driving solution provider to deploy reinforcement learning-based models in mass production in 2025. These developments reflect the company's data-driven approach to achieving scalable fully autonomous driving. With real-world driving data accumulated in the deployment of mass-produced vehicle solutions, the company's models iteratively optimize through integrated learning processes. The company believes that this method can accelerate the achievement of scalable L4 autonomous driving capabilities compared to primarily relying on simulation. As of December 31, 2025, the company has received 170 vehicle model designations, including 68 models that have entered formal mass production. The installation volume of intelligent driving solutions on mass-produced vehicles has exceeded 680,000 units, and the company has established partnerships with 24 leading global OEMs. In terms of finances, in the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 7.43 billion, RMB 13.25 billion, and RMB 24.13 billion respectively. During the same period, the company's net losses attributable to shareholders were approximately RMB 25.70 billion, RMB 32.06 billion, and RMB 34.58 billion respectively.