Streamax(SZ:002970) Ge Long Hui·2025-09-30 10:23Core Insights - Shenzhen Ruiming Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as the exclusive sponsor [1] - The company is a leading global provider of AI solutions for commercial vehicles, focusing on safety and efficiency [1] - The company has over 20 years of experience in the commercial vehicle sector, leveraging insights to develop AI-powered solutions [1][2] Company Overview - The company's AI solutions include visual-based AI technology for perception, analysis, and decision-making to enhance driving safety and fleet operational efficiency [1] - The company has developed over 80 intelligent algorithms covering advanced driver assistance, emergency braking, driver monitoring, and blind spot detection [1] - The company has a global presence, having sold solutions and products to over 100 countries and regions, with 11 subsidiaries established in various countries [2] Financial Performance - The company's revenue for the years 2022, 2023, and 2024 is projected to be RMB 1.229 billion, RMB 1.505 billion, and RMB 1.998 billion respectively, with a profit of RMB -167 million, RMB 98.224 million, and RMB 294 million for the same periods [2] - For the six months ending June 30, 2024, and 2025, the company expects revenues of RMB 906 million and RMB 1.156 billion, with profits of RMB 125 million and RMB 206 million respectively [2] Use of Proceeds - Approximately 60% of the funds raised will be allocated to R&D for technology and product solutions, including advanced intelligent driving innovations and AI model development [3] - About 20% will be used to expand production facilities in Vietnam for global market supply of AI solutions [3] - The remaining 20% will be divided between brand promotion, marketing activities, and general corporate purposes [3]