Streamax Technology Co Ltd

Streamax Technology published its 2026 interim report on August 26, showing higher revenue but lower profit. Revenue reached 1.238 billion yuan, up 7.09 percent year on year, but net profit attributable to shareholders fell 45.33 percent to 111 million yuan, and non-GAAP net profit fell 38.17 percent to 110 million yuan. Net cash flow from operating activities was negative 382 million yuan, swinging from a net inflow of 168 million yuan in the same period last year, mainly because strategic inventory buildup caused a sharp increase in cash paid for goods. Finance expenses surged 5,081.10 percent year on year due to exchange losses from currency fluctuations. AI solutions remained the core revenue source, generating 983 million yuan, or nearly 80 percent of total revenue, up 3.88 percent year on year, but gross margin fell 6.40 percentage points to 43.55 percent. Gross margin for the logistics vehicle business dropped sharply by 10.45 percentage points to 37.97 percent. The company kept research and development spending at a high level of 147 million yuan and launched an AI agent system and Robobus solution, but the new technologies have not yet made a significant profit contribution. Looking ahead, localized operations in emerging markets such as Japan, India, and Mexico, capacity ramp-up at the smart factory in Vietnam, and batch delivery of digital energy products are expected to become new growth drivers, though risks remain from international trade policy, market competition, and exchange rate fluctuations.