MOMENTA-W (06880.HK): to form RMB300 million JV with SAIC Motor and Yandian Technology, taking 51% for smart driving

NewTimeSpace News: On 5 November 2026, MOMENTA GLOBAL LIMITED (06880.HK) announced voluntarily that its wholly-owned subsidiary Momenta (Suzhou) Technology Co., Ltd. had reached an agreement with SAIC Motor Corporation Limited ("SAIC Motor") and Yandian Technology Co., Ltd. to jointly establish a joint venture with a registered capital of RMB300 million (name to be determined).

The registered capital of the JV will be subscribed as follows: Momenta Suzhou will subscribe RMB153 million for a 51% equity interest; SAIC Motor will subscribe RMB75 million for 25%; and Yandian Technology will subscribe RMB72 million for 24%. SAIC Motor is a company incorporated in China with its A shares listed on the Shanghai Stock Exchange (stock code: 600104.SH), and Yandian Technology is a controlled subsidiary of SAIC Motor, principally engaged in the R&D, manufacturing and sales of vehicles and auto parts.

The JV is intended to deepen the group's cooperation with SAIC Motor on a global scale and across vehicle platforms, providing advanced smart driving products and services covering L2 and L3. As all applicable percentage ratios are below 5%, the establishment of the JV does not constitute a notifiable transaction under the Listing Rules, nor a connected transaction.