China's autonomous-driving suppliers confront the limits of software moats

<p class="P1" data-start="2069" data-end="2500">Chinese autonomous-driving software specialist Momenta posted a strong first-half performance, with gross margin reaching 73.2% and adjusted net loss narrowing by about 97%. Yet despite the sharp financial improvement, doubts remain over its longer-term prospects. Supply-chain sources say that as intelligent-driving technology matures, strong software algorithms alone may no longer be enough to build a durable competitive moat.