Core Viewpoint - Wanma Technology (300698.SZ) is positioned as a leading enterprise in the vehicle networking sector, providing comprehensive high-level intelligent networking solutions for autonomous vehicles such as Robotaxi and Robovan [1] Group 1: Product Offerings - The company offers a comprehensive solution that includes "end, management, and cloud" aspects for vehicle networking [1] - The "end" aspect includes advanced networking hardware, mature eSIM solutions, and DSDA dual-active link solutions [1] - The "management" aspect provides dedicated vehicle networking and global networking services [1] - The "cloud" aspect features technological innovations in AI networking, AI operations, and data closed-loop cloud services [1] Group 2: Client Partnerships - In the Robotaxi sector, the company has established partnerships with Baidu Apollo, Hello, and Cao Cao Mobility [1] - In the Robovan sector, the company collaborates with Jiushi and Zhixingzhe [1]

Group 1: Company Overview - Wanma Technology Co., Ltd. was established in 1997 and listed on the Shenzhen Stock Exchange's Growth Enterprise Market on August 31, 2017 [3] - In the first three quarters of 2025, the company achieved a revenue of CNY 557 million, representing a year-on-year growth of 44.51% [3] - The company has two main business segments: communication and industrial control, and vehicle networking, both of which have seen rapid growth [3] Group 2: Business Development - The company is actively expanding its product offerings in the distribution sector, becoming a candidate for three projects with the State Grid, with a total bid amount of CNY 81.2742 million in 2025 [4] - In the vehicle networking sector, the company has connected over 17 million vehicles globally, with significant partnerships with major automotive manufacturers such as Geely and Li Auto [5] Group 3: Competitive Advantages - Wanma Technology leverages partnerships with major telecom operators (China Mobile, China Telecom, China Unicom) to provide robust communication infrastructure [4] - The company has developed advanced networking solutions, including dual SIM and AI network technologies, to meet the high bandwidth and low latency requirements of smart connected vehicles [5] Group 4: Future Market Potential - The Robotaxi market is projected to reach USD 116 billion by 2030, while the domestic logistics market for Robovan is expected to see significant growth, with potential increases of CNY 977 billion and CNY 1,416 billion respectively [6] - The company is focusing on the commercial viability of autonomous driving applications, positioning itself to capitalize on the expected growth in these sectors [6] Group 5: Product Offerings - Wanma Technology provides comprehensive solutions for the vehicle networking sector, including hardware, eSIM solutions, and AI-driven cloud services [7] - The company has established partnerships with various firms in the Robotaxi and Robovan sectors, including Baidu Apollo and Hello Chuxing [7] Group 6: Global Expansion - The company has deployed six major data platforms globally and has established branches in regions such as Europe and the Middle East to enhance service efficiency and compliance [8] - Wanma Technology's platform supports multiple eSIM standards, enabling it to handle large-scale operations for multinational automotive brands [8]

Company Overview - Wanma Technology Co., Ltd. was established in 1997 and listed on the Shenzhen Stock Exchange's Growth Enterprise Market on August 31, 2017 [2][3] - In the first three quarters of 2025, the company achieved a revenue of CNY 557 million, representing a year-on-year growth of 44.51% [2][3] Business Segments - The company has expanded from traditional communication equipment to the intelligent computing data center market, capitalizing on rapid industry growth [3][4] - Both the communication and industrial control business segments, as well as the vehicle networking segment, have experienced significant growth in 2025 [3][4] Vehicle Networking Solutions - As a leading player in the vehicle networking sector, the company offers comprehensive solutions that include high-level hardware, mature eSIM solutions, and dual-active link solutions [4][8] - The company has established partnerships with major automotive manufacturers such as Geely, Ideal, SAIC, and Dongfeng, managing over 16 million connected vehicles [4][6] Global Business Strategy - The company has deployed six regional platforms globally and has built deep relationships with mainstream operators in various countries, providing overseas connectivity services for several well-known automotive brands [4][10] - The company aims to expand its global business ecosystem strategy, exploring new business scenarios and broadening its cooperation scope to create new profit growth points [10][11] Technological Advantages - The company possesses innovative capabilities in AI networks, AI operations, and data closed-loop cloud services, which enhance the operational efficiency and capabilities of smart connected vehicles [4][8] - In the context of Robotaxi and Robovan, the company emphasizes the importance of network stability, bandwidth, and latency, which are critical for safe decision-making and operational efficiency [7][9] Future Directions - The company plans to optimize its traditional communication business while continuing to strengthen its vehicle networking segment and explore new applications such as Robotaxi and Robovan [11] - The company is also focusing on expanding its data center business and migrating its capabilities to other IoT scenarios, including embodied intelligence and unmanned systems [11]