Wanma Technology

What Wanma Technology does

Wanma Technology Co., Ltd. (万马科技股份有限公司) is a Hangzhou-headquartered Chinese manufacturer founded in 1997 and listed on the Shenzhen Stock Exchange (stock code 300698) since August 2017. The company operates three primary business divisions: a Communications Division producing optical fiber distribution equipment, 5G BBU/indoor/outdoor cabinets, power distribution switchgear, and network cabling for telecom and broadcast operators; a Medical Division supplying mobile nursing/rounding/billing workstations, hospital information software (surgical room behavior, high-value consumables, nursing management), and distributing GE Healthcare imaging systems and Medtronic Covidien surgical products; and a Data Center Division delivering modular micro-module data centers, container data centers, integrated liquid cooling cabinets, and RFID-based asset management workstations. Wanma also controls two subsidiaries: Shanghai Yoocar (connected-vehicle telematics) and Wistechs (IT cabinets and industrial temperature control).

The underlying technology spans proprietary electromechanical enclosures (e.g., WMHXGN-12 environmental gas insulated switchgear, one-two integration outdoor vacuum circuit breaker), integrated power and cooling architecture for modular data centers, and RFID-driven asset tracking software. Manufacturing is conducted at a 40,000+ sqm facility in Lin'an District, Hangzhou, supported by 600+ employees including 100+ mid-to-senior technical personnel and registered capital of RMB 134M with total investment above RMB 300M.

Wanma generates revenue primarily through direct enterprise sales to China's five major telecom and broadcast operators (China Telecom, China Mobile, China Unicom, China Broadcasting Network, and Wasu), to Class III Grade A hospitals for medical informatization deployments, and to data center operators (including an Alibaba Cloud project at Zhejiang Unicom's Deqing facility). Distribution of international medical device brands adds a hardware-resale stream. Pricing is quote-based with multi-year enterprise contracts, and a growing share of revenue is international — Q1 export sales grew over 200% year-over-year with Africa growing over 500% — supported by an active overseas expansion team.

Name

Wanma Technology

Legal name

万马科技股份有限公司

Website

https://wanma-tech.cn

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Wanma Technology is a Hangzhou-based, Shenzhen-listed (300698) Chinese manufacturer founded in 1997 that designs and produces communications hardware, modular data center infrastructure, and medical informatization solutions for China's major telecom operators, hospitals, and data center operators.

Ownership category

akta.pro rank

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Communication Equipment Manufacturing and Sales: Design, manufacture, and sale of communication electronics and physical connection equipment including 5G BBU cabinets, outdoor cabinets, optical fiber distribution frames, network cabinets, power distribution equipment, and comprehensive cabling products. Products serve telecom operators and broadcast companies for transmission and access network infrastructure.
2. Medical Equipment Distribution: Distribution of medical imaging equipment and devices including GE MRI systems, CT scanners, and Medtronic Covidien surgical mesh products. The company acts as a distributor for international medical device brands in the Chinese market.
3. Medical Informatization Solutions: Mobile medical nursing workstations, mobile doctor workstations, mobile billing workstations, surgical room intelligent management systems, and hospital information software. The company develops and sells both hardware and software solutions for healthcare informatization.
4. Data Center Infrastructure Solutions: Modular data center products including micro-module solutions, integrated micro-modular data centers, liquid cooling cabinets, container data centers, and shelter-type data centers. One-stop solutions covering consulting, planning, product development, project integration, implementation, and comprehensive operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Wanma Technology designs, manufactures, and sells communication electronics and physical connection equipment (5G BBU cabinets, optical fiber distribution frames, network cabinets, cabling products), medical informatization solutions (mobile nursing workstations, hospital information software), and modular data center infrastructure (micro-module data centers, IDC cabinets, liquid cooling systems). The company also distributes international medical imaging brands such as GE MRI/CT and Medtronic Covidien surgical products in the Chinese market.

Product overview

Wanma Technology (万马科技股份有限公司) is a diversified technology company with three main business divisions. The Communication Division (通信事业部) provides optical communication equipment (fiber optic cables, junction boxes, splitters, ODF frames), mobile base station products (5G BBU cabinets, outdoor/indoor cabinets), power distribution systems (low/high voltage switchgear), and network infrastructure (cabling systems, network cabinets). The Medical Division (医疗事业部) offers hospital information systems (surgical behavior management, high-value consumables tracking, nursing management), mobile medical workstations (nursing, rounding, billing), and distributes medical equipment (GE MRI/CT, Medtronic mesh). The Data Center Division provides modular data center solutions (micro modules, container data centers, liquid cooling cabinets), IDC cabinet solutions, and RFID-based asset management systems. The company also has subsidiaries in connected vehicles (Yoocar) and industrial IT cabinets (Nieshen).

Differentiator

Problem solved

Functional benefit

Brands

• 优咔科技 Yoocar: Shanghai Yoocar Network Technology Co., Ltd. - a high-tech communication enterprise providing vehicle networking connection management services, leading connected-car service and solution provider in China.
• 涅申（上海）智能科技

Products and services

• 5G BBU Cabinets (Indoor and Outdoor Integrated)

Quantifiable outcome

• Export sales increased over 200% year-over-year in Q1
• +2 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Five partnerships are on record, tiered subsidiary, core and flagship.

• Wistechs (涅申（上海）智能科技)subsidiaryOthers · 1 January 2017Nieshen (Shanghai) Intelligent Technology Co., Ltd. is a controlled subsidiary of Wanma Technology. The company specializes in IT cabinets, micro-modules, and industrial cabinet series, providing industrial temperature control solutions.
• Yoocar (优咔科技)subsidiaryOthers · 1 January 1997Shanghai Yoocar Network Technology Co., Ltd. is a controlled subsidiary of Wanma Technology. It is a high-tech communication enterprise providing vehicle networking connection management services, and is a leading connected-car service and solution provider in China's vehicle networking industry. The company is headquartered in Shanghai with R&D and support centers in Beijing, Wuhan, and Nanning.
• GE Healthcare (GE医疗)coreChannel Partner/ Reseller/ DistributorWanma Technology distributes GE medical imaging products including the Aurora 1.5T MRI system, Qingcheng CT620, and Optima XR240amx. GE is a major international medical equipment manufacturer and Wanma serves as a distribution partner in the Chinese market.
• Medtronic Covidien (美敦力柯惠)coreChannel Partner/ Reseller/ DistributorWanma Technology distributes Medtronic Covidien surgical mesh products (PP and TEM series) and related surgical fixation devices. Medtronic is a global leader in medical technology and Wanma serves as a distribution partner for these products in China.
• China Telecom, China Mobile, China Unicom, China Broadcasting Network, Wasu (电信、移动、联通、广电、华数)flagshipStrategic or Co-development PartnerWanma Technology is a major product supplier and strategic partner for all major Chinese telecom operators. The company provides communication equipment for 5G networks, optical fiber access, and data center infrastructure to these operators.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Hengtong Optic-Electric: Major Chinese fiber optic cable and communication equipment manufacturer serving telecom operators globally. Comparable in optical fiber infrastructure products (fiber optic cables, distribution frames, splice closures) sold to similar telecom operator customers across Chinese carriers.
• Zhongtian Technology: Chinese fiber optic cable and communication equipment manufacturer serving domestic and international telecom markets. Comparable in optical fiber products and telecom infrastructure equipment targeting the same operator customer base, though with broader product range and larger scale.
• ZTE Corporation: Chinese telecom equipment manufacturer and one of the largest suppliers to Chinese state-owned telecom operators. Directly comparable to Wanma in serving the same China Telecom/Mobile/Unicom customer base with communication infrastructure hardware including cabinets, BBU racks, and networking equipment.
• Winning Health Technology Group: Chinese medical informatics company providing hospital information systems, electronic medical records, and healthcare IT solutions. Comparable through Wanma's medical informatics software (nursing management systems, surgical behavior management) targeting the same Chinese hospital digitization vertical.
• H3C Technologies (New H3C Group): Major Chinese data center and networking equipment provider offering servers, storage, networking, and modular data center solutions. Comparable in serving enterprise and IDC customers with integrated data center infrastructure products including cabinets, intelligent management systems, and micro-module solutions.
• FiberHome Telecommunication Technologies: Chinese state-owned telecom equipment manufacturer specializing in fiber optic communication equipment, optical fiber distribution frames, and transmission network infrastructure. The closest direct competitor in Wanma's optical communication product line.

Broad incumbents

• Inspur Group: Large Chinese data center infrastructure and server manufacturer with comprehensive portfolio spanning servers, storage, and modular data center solutions. Overlaps with Wanma's Data Center Division in micro-module and container data center products but operates at substantially larger scale and with deeper proprietary technology.
• Huawei Technologies: Dominant Chinese telecom infrastructure and ICT equipment provider with broad portfolio spanning wireless base stations, optical networks, data center switches, and cloud services. Overlaps with Wanma across multiple divisions including 5G base station equipment and data center infrastructure, but at vastly larger scale and with proprietary technology stack.
• Neusoft Corporation: Chinese IT solutions and healthcare informatics company providing hospital information systems, medical imaging, and smart healthcare solutions. Directly comparable in serving Chinese hospitals with mobile medical workstations and medical information systems across the hospital informatization vertical.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wanma Technology