Streamax Technology Co., Ltd. (002970.SZ) Bundle
From a Shenzhen startup founded in September 2002 to a publicly traded leader on the Shenzhen Stock Exchange (ticker 002970) with a market capitalization of roughly 8.84 billion CNY, Streamax Technology Co., Ltd. has grown through milestone moves-entering the U.S. school bus market in 2006, partnering with Huazhong University in 2014 on in-vehicle image recognition, launching neural-network-based DMS and ADAS in 2018, and listing in December 2019-to become a global provider of AI-driven vehicle safety and management systems; as of December 2025 it employs over 2,100 people, has served more than 5 million vehicles across 100+ countries via three R&D centers and seven overseas subsidiaries, and reported revenue of 2.55 billion CNY in the trailing twelve months to September 30, 2025 (a 7.18% YoY increase) with a P/E of 25.36 (Dec 9, 2025); vertically integrated R&D, manufacturing and platform software-backed by sustained investment (over 16% of sales in R&D since 2021 and R&D spend consistently above 12% of revenue)-plus direct sales, authority partnerships and technology collaborations underpin how Streamax builds, sells and monetizes on-board AI cameras, ADAS/DMS kits and fleet management platforms while claiming Omdia's top global market share and a strategic role in national industry standards
Streamax Technology Co., Ltd. (002970.SZ): Intro
Streamax Technology Co., Ltd. (002970.SZ) is a China-based developer and provider of video-based intelligent transportation systems and fleet management solutions focused on commercial vehicles. Founded in September 2002 in Shenzhen, Streamax evolved from vehicle video surveillance to AI-driven driver monitoring and telematics, serving fleet operators worldwide.- Founded: September 2002 by Zhao Zhijian and Wang Xidian (originally Shenzhen Streamax Video Technology Co., Ltd.).
- First major international expansion: 2006 - entered U.S. school bus market.
- R&D collaboration: 2014 - partnered with Huazhong University of Science and Technology on intelligent in-vehicle image recognition.
- AI product launch: 2018 - released Driver Monitoring System (DMS) and ADAS based on neural-network AI.
- Public listing: December 2019 - listed on the Shenzhen Stock Exchange, ticker 002970.
- Scale (as of December 2025): >2,100 employees; solutions deployed on 5+ million vehicles globally.
| Milestone | Date / Value |
|---|---|
| Founding | September 2002 |
| Entry into U.S. market (school buses) | 2006 |
| R&D collaboration (image recognition) | 2014 - Huazhong University of Science and Technology |
| AI-driven products (DMS, ADAS) | 2018 |
| IPO (Shenzhen Stock Exchange) | December 2019 - Ticker: 002970.SZ |
| Employees (Dec 2025) | >2,100 |
| Vehicles served (cumulative, Dec 2025) | >5,000,000 vehicles |
- On-board video recorders and multi-camera systems for commercial vehicles.
- Driver Monitoring Systems (DMS) - AI-based drowsiness, distraction and behavior detection.
- Advanced Driver Assistance Systems (ADAS) - lane departure, forward collision warning, etc.
- Telematics units and fleet management platforms (vehicle location, diagnostics, trip analytics).
- Cloud services and SaaS: video cloud, event analytics, OTA updates and data platforms.
- Edge hardware: rugged DVRs and ADAS/DMS cameras collect multi-channel video, CAN-bus and GNSS data.
- On-device AI: neural-network models run inference locally for real-time alerts (e.g., driver distraction, collision warnings).
- Connectivity: 4G/5G or Wi‑Fi uplinks transmit event clips and telemetry to cloud servers.
- Cloud/backend: video storage, big-data analytics, route and safety dashboards, and API integrations for OEMs/fleet systems.
- Service layer: subscription modules (video retrieval, compliance reporting, predictive maintenance) and professional services for integration and customization.
- Hardware sales: one-time revenue from cameras, DVRs, telematics modules and integrated units sold to fleets and OEMs.
- Software & subscriptions: recurring SaaS fees for cloud storage, analytics, safety reporting, and fleet-management platforms.
- Data services & value-added features: paid modules for video evidence retrieval, regulatory compliance (e.g., school-bus CCTV), and insurance telematics.
- OEM and channel partnerships: embedded systems sold to vehicle manufacturers and large integrators, often under multi-year contracts.
- Maintenance & professional services: installation, training, customization, and post-sale support contracts.
- Commercial vehicle focus: core customers include school bus operators, logistics fleets, public transit, taxis, and special-purpose vehicle fleets.
- Global footprint: early U.S. entry (2006) enabled expansion into North America, Latin America, Europe and Asia; cumulative deployment exceeds 5 million vehicles (Dec 2025).
- Employee base supporting R&D, manufacturing and global sales: >2,100 employees (Dec 2025).
| Indicator | Figure / Note |
|---|---|
| Cumulative vehicles served | >5,000,000 (as of Dec 2025) |
| Employees | >2,100 (as of Dec 2025) |
| Listing | Shenzhen Stock Exchange, ticker 002970 - Dec 2019 |
| Primary markets | China, North America, Latin America, Europe, Southeast Asia |
- End-to-end stack: hardware + edge AI + cloud services enables higher-margin recurring revenue via subscriptions and data services.
- Early specialization in vehicle video and long-standing OEM/channel relationships-strengthens market penetration in regulated segments (e.g., school buses).
- Continuous AI R&D (collaborations with universities and in-house teams) to maintain competitive differentiation in DMS/ADAS capabilities.
Streamax Technology Co., Ltd. (002970.SZ): History
Streamax Technology Co., Ltd. (002970.SZ) was founded as a limited liability company and in May 2015 converted to a joint-stock company to facilitate public listing on the Shenzhen Stock Exchange (ticker: 002970). Since listing, Streamax has focused on vehicle-mounted smart terminals, fleet management, and AI-driven video telematics, expanding domestically and into select international markets.- Listing: Shenzhen Stock Exchange, ticker 002970
- Corporate transformation: converted to joint‑stock company in May 2015
- Core focus: vehicle telematics, AI video analytics, fleet management solutions
| Metric | Value |
|---|---|
| Market Capitalization (Dec 2025) | 8.84 billion CNY |
| Revenue (TTM ending Sep 30, 2025) | 2.55 billion CNY |
| Revenue YoY Growth | 7.18% |
| Price-to-Earnings (P/E) Ratio (Dec 9, 2025) | 25.36 |
| Ownership Concentration | Diverse institutional and individual shareholders; no majority holder |
- Shareholder mix: a broad base of institutional investors, mutual funds, corporate investors and retail holders
- No single shareholder holds a controlling stake; governance reflects dispersed ownership
- Stock liquidity: actively traded on Shenzhen exchange, supporting price discovery and investor participation
- Deliver AI-enabled safety and efficiency solutions for commercial vehicle operations
- Advance intelligent transportation through integrated hardware, software and cloud services
- Hardware sales: cameras, in‑vehicle recorders and telematics terminals sold to fleet operators and OEMs
- Software & SaaS: recurring revenue from fleet management platforms, AI video analytics subscriptions and value‑added services
- Data & services: cloud storage, analytics, incident investigation services and OTA updates
- Integration & projects: system integration, deployment contracts and long‑term maintenance agreements
Streamax Technology Co., Ltd. (002970.SZ): Ownership Structure
Streamax Technology Co., Ltd. (002970.SZ) is guided by a mission to build a brighter future of transportation with technology, focusing on safety, compliance, and efficiency improvement of commercial vehicles through AI and video technology. The company's vision is to be the most reliable guardians of road safety, informing strategic decisions and product priorities.- Global footprint: 3 R&D centers and 7 overseas subsidiaries to deepen localized services worldwide.
- R&D commitment: investing more than 16% of sales revenues annually in R&D since 2021.
- Market leadership: ranked No.1 in global market share for in-vehicle video/AI-based fleet safety solutions by Omdia.
- Standards influence: active contributor to national industry standards for transportation safety and telematics.
- Hardware sales - video recorders, telematics terminals, ADAS-enabled devices sold to fleets and OEMs.
- Software & services - SaaS and subscription services for fleet management, driver behavior analysis, and cloud storage.
- Platform & data monetization - analytics, compliance reporting, and value-added services for insurance and logistics partners.
- Integration & customization - system integration and turnkey solutions for large fleet operators and public transport.
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (RMB million) | 1,384 | 1,732 | 1,900 |
| Net profit (RMB million) | 210 | 265 | 290 |
| R&D spend (% of revenue) | 18.0% | 17.0% | 16.5% |
| Employees | ~3,200 (global) | ||
| R&D centers | 3 | ||
| Overseas subsidiaries | 7 | ||
| Global market ranking (Omdia) | #1 in in-vehicle video/AI fleet safety solutions | ||
- Founders & management: significant insider holdings aligning management incentives with long-term growth.
- Institutional investors: domestic and international funds hold material stakes through public free float.
- Public float: listed on Shenzhen Stock Exchange (002970.SZ), enabling retail and institutional participation.
Streamax Technology Co., Ltd. (002970.SZ): Mission and Values
Streamax operates a vertically integrated model that controls the full product lifecycle from core research through manufacturing, sales and after-sales technical support. This integration enables strong quality control, faster product iteration and tighter alignment between field feedback and engineering development.- Vertical integration: R&D → manufacturing → sales → technical support.
- R&D footprint: four major R&D centers (Shenzhen, Chongqing, Beijing, Chengdu).
- R&D intensity: investment consistently exceeding 12% of total revenue.
- Global service network: offices/subsidiaries in North America, Europe, the Middle East and other regions.
- Hardware portfolio:
- On-board AI video surveillance devices
- On-board professional cameras
- Active driving safety kits (ADAS, drowsiness detection, collision warning)
- Driver-passenger interactive terminals
- Software and platforms:
- Fleet and safety management platforms integrating video telematics, event analytics and reporting
- Cloud and edge analytics modules enabling AI inference on device and centralized management
- Service model:
- Turnkey deployments for commercial fleets (hardware, software, installation, training, maintenance)
- Localization and regional support via overseas offices and partners
| Metric | Value / Description |
|---|---|
| R&D centers | 4 (Shenzhen, Chongqing, Beijing, Chengdu) |
| R&D investment | Consistently >12% of total revenue |
| Product categories | 4 primary hardware categories + platform software |
| International footprint | Products/solutions used in 100+ countries and regions |
| Major projects | Participated in Beijing Olympic Games, Shanghai World Expo and other large transportation security projects |
| Regions with offices/subsidiaries | North America, Europe, Middle East, Asia (local teams for implementation/support) |
- Hardware sales: primary revenue from on-board devices and safety kits sold to fleet operators, bus companies, logistics firms and government projects.
- Software and services: recurring or project-based revenue from platform subscriptions, cloud services, data analytics, custom integrations and maintenance contracts.
- Turnkey project contracts: bundled systems for large public-safety and transportation projects (design, deployment, after-sales).
- Channel and OEM relationships: revenue via system integrators, OEM supply to vehicle manufacturers and authorized distributors in overseas markets.
- High R&D intensity (>12% of revenue) drives continual AI and hardware iteration, improving margins on advanced features.
- Vertical integration shortens feedback loops between field deployments and product development, reducing time-to-market for upgrades.
- Global presence and localized support increase contract competitiveness for cross-border fleet operators and public projects.
- End-to-end solutions (device + platform + services) create recurring revenue opportunities beyond one-off device sales.
Streamax Technology Co., Ltd. (002970.SZ): How It Works
Streamax Technology Co., Ltd. (002970.SZ) develops, manufactures, and sells AI-powered mobile safety and industrial management solutions for commercial vehicles. Its core offering combines intelligent vehicle-mounted hardware with cloud-based management platforms and analytics to deliver real-time monitoring, driver-assistance, fleet optimization, and regulatory compliance services.- Product lineup: vehicle cameras (ADAS, DVR), telematics units, edge AI processors, in-cab driver monitoring, and integrated onboard gateways.
- Software & services: fleet management platform, video/cloud storage, AI analytics, OTA updates, and pay-as-you-go value-added services.
- Target customers: logistics fleets, public transport operators, municipal authorities, mining/industrial fleets, and OEMs.
- Direct hardware sales of vehicle-mounted devices to commercial vehicle operators and system integrators.
- Recurring software subscriptions and cloud/analytics services for fleet management and regulatory reporting.
- Project and integration services for large-scale deployments with transportation authorities and enterprise fleets.
- Partnerships and channel sales with telematics providers, automotive OEMs, and local integrators.
- R&D and product design: continuous development of AI models (driver behavior, collision detection, lane departure), edge processing capabilities, and ruggedized hardware.
- Manufacturing: in-house/contract manufacturing of vehicle devices, quality testing, and certification for automotive use.
- Deployment: device installation, platform integration, onboarding, and training for customers.
- Data & services: telemetry ingestion, video upload, AI inference (edge/cloud), alerts, reporting, and subscription billing.
| Metric | Value |
|---|---|
| Trailing twelve months revenue (ending Sep 30, 2025) | 2.55 billion CNY |
| YoY revenue growth | 7.18% |
| Market capitalization (Dec 8, 2025) | ≈ 8.84 billion CNY |
| Price-to-earnings (P/E) ratio (Dec 9, 2025) | 25.36 |
| Primary exchange / ticker | Shenzhen Stock Exchange / 002970.SZ |
- Collaborations with transportation authorities for city-level safety and surveillance projects.
- Alliances with cloud providers and AI partners to scale analytics and storage services.
- OEM and integrator partnerships to embed Streamax devices into vehicle offerings and turnkey fleet solutions.
Streamax Technology Co., Ltd. (002970.SZ): How It Makes Money
Streamax monetizes its core strengths-vehicle surveillance hardware, edge AI software, cloud services and integrated solutions for fleet management-by selling devices, recurring SaaS/cloud subscriptions, project contracts for large transportation/security deployments, and value-added aftermarket services. Its strategy focuses on high-margin software and services layered on proprietary hardware to lock in long-term customers across public transport, logistics, taxis, and special-purpose vehicles.- Market leadership: ranked No.1 in global market share by Omdia, giving premium pricing power and channel leverage.
- R&D intensity: has invested more than 16% of sales revenue in R&D since 2021, fueling product differentiation in edge AI and telematics.
- National standard-setting: a key contributor to national industry standards, which increases adoption in government and large institutional projects.
- Global reach: offices and subsidiaries in North America, Europe, the Middle East and other regions support localized sales, deployment and after‑sales service.
- Broad deployment footprint: products and solutions applied in over 100 countries and regions and used in major projects such as the Beijing Olympic Games and the Shanghai World Expo.
| Revenue Stream | Role | Examples / Notes |
|---|---|---|
| Hardware sales (cameras, NVRs, telematics) | Transactional, volume-driven | Fleet dashcams, AI-enabled vehicle terminals for buses, taxis, logistics fleets |
| Software & Edge AI | Higher-margin, recurring upgrade cycles | On-device AI for driver behavior, ADAS features, video analytics |
| Cloud & SaaS subscriptions | Recurring revenue, platform lock-in | Fleet management portals, video storage, telematics APIs |
| Large project contracts | One-off & long-term maintenance | Major public transport and security projects (e.g., Olympic/Expo deployments) |
| Aftermarket services & maintenance | Recurring service revenue | Installation, warranty extensions, analytics services |
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