In a recent exchange with analysts, Wanma Technology Co.,Ltd. (ASX: 300698) provided an update on its operational performance.

The company reported that for the year 2025, it achieved total operating revenue of 7.25 billion yuan, marking a significant year-on-year increase of 29.24%. This growth was attributed to robust industry expansion, enhanced operational capabilities, and the initial implementation of its strategic transformation.

Within this total, revenue from the vehicle internet-of-things (IoT) segment reached 3.81 billion yuan, surging 49.33% compared to the previous year and constituting 52.59% of the total business. Revenue from the communications sector amounted to 3.10 billion yuan, growing by 16.13% and accounting for 42.72% of the business.

The positive momentum continued into the first quarter of 2026, with the company posting operating revenue of 1.67 billion yuan, an increase of 11.88% year-on-year.

In the vehicle IoT field, leveraging its forward-looking global business strategy and the accelerated globalization of Chinese automobiles, the company has reached a new milestone. The number of connected vehicles has surpassed 18 million units, including over 1.3 million overseas, which continues to drive growth in this segment's revenue.

Concurrently, the company is progressively applying its accumulated passenger vehicle connectivity technology to Level 4 autonomous driving scenarios, further expanding its potential growth avenues.

In the AI computing infrastructure sector, the company has demonstrated keen insight into industry trends and a deep understanding of client needs. It has gradually entered product areas such as intelligent computing centers and power grids. Furthermore, it achieved strong growth in the industrial control field during 2025, contributing positively to the company's overall performance growth.