HONG KONG, July 8, 2026 – Momenta, a global leader in physical artificial intelligence, today began trading on the Main Board of The Stock Exchange of Hong Kong (HKEX) under the ticker symbol “6880.” The offering, priced at HK$295.6 per share, is expected to raise approximately HK$6.8 billion in gross proceeds, assuming full exercise of the over‑allotment option.
Momenta’s founding team and guests celebrate the company’s HKEX debut on July 8, 2026.
The IPO drew exceptional demand. The Hong Kong public tranche was oversubscribed 414 times, while the international placing attracted more than HK$100 billion in institutional orders from sovereign wealth and long‑term funds across 15 countries. Excluding cornerstone contributions and before greenshoe adjustments, international subscription coverage reached roughly 44 times.
A Strong Cornerstone Line‑Up
Momenta secured 14 cornerstone investors, subscribing for a total of approximately HK$3 billion (US$376 million). The roster—a rarity in recent Hong Kong IPOs—brings together global long‑term players (GIC, Fidelity International, BlackRock, Franklin Templeton, ADIA, CPPIB, Temasek, Wellington, and Schroders) alongside top‑tier Chinese private equity, mutual funds, and insurers. Long‑term capital alone accounted for over 15 times the base offering, underscoring broad institutional confidence in Momenta’s long‑term value.
Production Milestone: One Million Vehicles
On the eve of its listing, Momenta announced that its mass‑production systems have now been deployed in more than one million vehicles, spanning over 100 production models and more than 210 nomination programs. The company’s partner network covers virtually all major global automakers, cementing its status as the “trusted partner of global leaders.”
CEO’s Remarks: From Better AI to Better Life
Cao Xudong, founder, chairperson, and CEO, strikes the gong at the The Stock Exchange of Hong Kong on July 8, 2026.
“We founded Momenta ten years ago with one simple but steadfast mission: Better AI, Better Life,” said Cao Xudong, founder, chairperson, and CEO of Momenta. “Better AI comes from our innate curiosity—our fascination with artificial intelligence makes our lives vibrant. Better Life carries our sense of mission: we believe technology’s true value is to make people safer, freer, and happier. That is why we set three ten‑year goals—save one million lives, free 100% of people’s time, and double the efficiency of logistics and mobility. Today, with over one million users already enjoying a safer driving experience, we are well on our way.”
At the listing ceremony, Cao invited Han Sen, the owner of the one‑millionth production vehicle—an IM LS8 model—to join him on stage for the gong‑striking. He said, “we are deeply grateful to our users and to everyone who believes in AI and in Chinese technology.”
The Road Ahead: Physical AI’s “GPT Moment”
Founded in 2016, Momenta pursues a dual‑track strategy—Mass Production and Scalable Robo—to bring physical AI into everyday life. Earlier this year, in April, Momenta launched the R7 World Model for production vehicles, marking the beginning of a new era for physical AI. The company plans to expand its platform beyond passenger cars to include Robovan, Robotruck, Robotaxi, and eventually robotics.
“Over the past decade, we taught AI to drive, bringing a dedicated chauffeur to every family,” Cao added. “In the next decade, we will bring robotic helpers—housekeepers, doctors, teachers—to every home, ushering in physical AI’s ‘GPT moment.’ Together with all Chinese AI companies, we aspire to write an Eastern Silicon Valley legend—embracing the world and inviting the world to embrace Chinese technology.”
Cao concluded by expressing gratitude to Momenta’s clients, partners, investors, and employees, as well as to the HKEX, the Securities and Futures Commission, the governments of Jiangsu and Suzhou, and the various intermediary agencies for their guidance and support.
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