On January 18, China’s automotive intelligence solution developer NavInfo released the estimated results of its 2022 annual business performance.
Main productsIntelligent Driving Intelligent Driving L2 Product: L2 Box L2+ Intelligent Driving Products: Low-computing-power domain controllers for integrated driving and parking; high-computing-power domain controllers for integrated driving and parking Integrated dual-domain products: cockpit-parking integration products and cockpit-driving-parking integration products. Intelligent Cockpit Dash Cam: 2G Travel Recorder, 4G Travel Recorder, 4G Video Terminal ADAS Series: ADAS+DMS Smart Vehicle Terminal: Truck Navigation, Segmented Speed Limit Function, Surveillance Camera T-BOX Series: 4G T-BOX, China VI T-BOX Compliant with Fuel/New Energy Vehicle Requirements PCC Predictive Cruise Intelligent Terminal: ADASIS Map, Intelligent Load Algorithm, Dynamic Planning Algorithm Load Sensor: Load Algorithm Vehicle Networking and Big Data Platform Commercial Vehicle Map Service: Intelligent Horizon, Geofencing, Segmented Speed Limit Road Network Map APP Operation Service Intelligent Cloud Map Products, Human-Machine Co-Driving Navigation Products, Data Compliance Closed-Loop Service, Dynamic Traffic Service, High-Precision Positioning Intelligent Chips Automotive AP：E-cockpit SoC, IVI SoC, SoC for DA and High-end LCD Instrument, Telematics SoC MCU
Main productsNew Energy Vehicles Module Products: DC Fast Charging Modules, Energy Storage and Charging Modules, On-board Power Modules Monitoring Products: Charging Control Modules, Charging Cloud Platform System Products: Standard DC EV Chargers, Split-type Charging Systems, Fully Liquid-cooled Supercharging Systems, AC EV Chargers, V2G EV Chargers
Beijing (Gasgoo)- On January 18, China’s automotive intelligence solution developer NavInfo released the estimated results of its 2022 annual business performance.
Photo credit: NavInfo
In the past year, the company is likely to see a total revenue of 3.25 billion-3.45 billion yuan (US$480.78 million-510.36 million), representing an estimated 6.21%-12.74% increase year-on-year. Net loss attributable to shareholders should come in at 280.92 million-365.2 million yuan (US$41.56 million-54.02 million) in 2022, compared to the net profit of 122.09 million yuan ($18.06 million) in 2021. After nonrecurring deductions, NavInfo’s net loss throughout 2022 is anticipated to stand at 280.81 million-365.05 million yuan (US$41.54 million-54 million).
According to NavInfo, the rise in annual revenue is attributable to the company’s advanced strategic layout in automotive intelligence field. During the past year, the company expanded investment in R&D and received more recognition from automakers worldwide. The surge in orders and output in NavInfo’s autonomous driving assistance system aspect was prominent. Meanwhile, the business development of the company’s automotive-grade MCU and SoC chips is also optimistic.
However, the drastic change in its 2022 annual net profit is an outcome of the relatively weak market of commercial vehicles during the year, which led to a sharp downturn in revenue of NavInfo’s smart cockpit business segment. Additionally, due to the accounting regulations, the amortization expense of the company’s equity incentive plan and employee stock ownership plan was also included into NavInfo’s performance sheet during the reporting period, which posed a negative impact on the numbers.
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