China’s navigation technology leader, NavInfo is projected to significantly narrow its loss in the first three quarters this year.
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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
Beijing (Gasgoo)- China’s navigation technology leader, NavInfo is projected to significantly narrow its loss in the first three quarters this year.
Photo credit: NavInfo
The company forecasted a RMB1.8 billion-RMB1.92 billion ($280 million-$298.47 million) revenue year-to-date, increasing 17.68%-25.53% from a year ago. Net loss attributable to shareholders should amount to RMB49 million- RMB34 million ($7.62 million-$5.29 million), slumping 74.83%-82.38% comparing to the first nine months of last year.
Especially in the third quarter alone, NavInfo boasted an estimated RMB600 million-RMB720 million ($93.21 million-$112 million) in revenue, up 6.06%-27.19% year on year. Thanks to the upsized private placement the company received, it managed to make a turnaround from loss, with a projected RMB7 million-RMB20 million ($1.09 million-$3.11 million) quarterly net profit attributable to shareholders, more than doubled (by 121.28%-168.08%) from the same period last year.
NavInfo explained, benefiting from the accelerated layout in client expansion, and speedy commercialization of ADAS and autonomous driving, and V2X (vehicle to everything) technologies during the reporting period, the company’s sales grew steadfastly.
Despite the year-on-year increase of chip shipment in the first nine months, NavInfo still took a hit from the chip shortage and the raw material premium. The company’s featured navigation business brought home more orders as the auto market recovered.
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