Momenta Global (6880) investor relations material

Executive summary

• Achieved total revenue of RMB 1,601.9 million in H1 2026, up 76% year-over-year, driven by growth in mass-produced vehicle models and cumulative nominations.

• Adjusted gross margin reached 75%, and adjusted net loss narrowed by 97% to RMB 14 million, reflecting significant operational efficiency gains.

• Cumulative installations surpassed 1 million units, with 321,000 new units added in H1, and design wins expanded to 219 vehicle models across 26 OEMs.

• Completed IPO on July 8, 2026, raising HK$5,656 million and converting all Preferred Shares to ordinary shares.

• Expanded global footprint to 10 countries and regions, with robust progress in Robovan and robotaxi businesses.

Financial highlights

• NRE/technical development service revenue reached RMB 995 million, accounting for over 62% of total revenue, driven by a growing global OEM customer base and higher delivery volumes.

• Licensing revenue was RMB 607 million, supported by rapid Urban NOA penetration and stable ASP.

• Gross profit grew 79.4% year-over-year to RMB 1,173 million, with gross margin improving to 73.2%-75%.

• R&D expenses increased 19% year-over-year to RMB 1,163 million; SG&A expenses rose 50% as global operations scaled.

• Operating net cash outflow improved 46.8% year-over-year to RMB 381 million; cash reserves post-IPO at RMB 15 billion.

Outlook and guidance

• Continued strategic investment in R&D, computing infrastructure, and commercialization of robot businesses in H2 2026.

• Expectation of further Urban NOA penetration and deployment of R7 world model in mass production vehicles.

• Plans to expand Robovan operations to more cities and enter the UAE in 2027, with global scaling by 2028.

• Robotaxi business targets testing licenses in over 10 cities by end-2026 and expansion to 30+ cities by 2027, deploying hundreds of vehicles domestically and internationally.

• Plans to launch L3 functionality on mass-produced vehicles in 2027, conditional on regulatory support.