Leading physical AI company Momenta disclosed its global offering documents, officially launching its Hong Kong stock offering with the stock code "6880," and CICC and Deutsche Bank as joint sponsors. The company plans to offer approximately 19.938 million shares globally at a price of 295.6 HKD, expecting to raise a total of 5.89 billion HKD.

This IPO has attracted 14 institutional investors forming an ultra-luxurious cornerstone investor lineup, with a total subscription amount of about 3 billion HKD. Among them, Singapore Government Investment Corporation (GIC) and Fidelity International each received 100 million USD as lead investors; existing shareholders Mercedes-Benz and BYD respectively added 25 million and 15 million USD; top long-term capital both domestic and foreign such as BlackRock, Oaktree Capital, Hillstone, and Boyu have all followed up with investments.

The capital's enthusiasm is due to its technological breakthroughs and strong financial performance. In April this year, Momenta R7 world model achieved mass production, fully supporting large-scale implementation in areas such as passenger cars, Robotaxi, and Robovan. According to the prospectus, Momenta's revenue increased from 743 million yuan to 2.413 billion yuan between 2023 and 2025, with an annual compound growth rate exceeding 80%, with licensing revenue tripling 42 times over three years; gross profit margin rose sharply from 17.5% to 71.6%, and adjusted net loss narrowed to 303 million yuan, approaching break-even.

As of the end of 2025, the company's cash reserves exceeded 10 billion yuan. 60% of the net proceeds from this offering will be used for R&D to strengthen core technologies and advance the next generation of intelligent driving solutions. As a leading company in autonomous driving, Momenta's IPO will inject a strong stimulus into the large-scale implementation of physical AI industry in the era of end-to-end large models.