NavInfo delivers turnaround with 140% YoY soar in net profit in 2021

Beijing (Gasgoo)- China’s navigation player NavInfo delivered a turnaround from loss to profit in 2021, with a 139.26% year-over-year soar in net profit, according to its 2021 annual performance report released on March 30th.

Photo credit: NavInfo

In 2021, the annual revenue of the company amounted to RMB3.06 billion ($482.4 million), surging 42.48% from a year ago, resulting in a net profit of RMB122 million ($19.22 million).  

With the growing demand for automotive intelligence products in the industry, NavInfo is able to carry out its prominent momentum into the year 2022. On the same day, NavInfo also released its performance projection for the first quarter of 2022. 

From January to March, NavInfo estimated a quarterly net profit of RMB10.38 million to RMB13.49 million ($1.62 million to $2.13 million), which more than doubled from the previous year, at 122.97% to 129.86%. This will also be the first profitable quarter of NavInfo, compared for the same period since the pandemic hit.  

In 2021, NavInfo’s intelligence transformation has shown preliminary results. Its MaaS, ADS solution, intelligent cockpit, and auto-grade MCU products have landed the company multiple procurement orders from major entities within the auto industry. Mercedes-Benz, BMW, Volkswagen, Volvo Cars, Ford, and Alpine China all struck deals with NavInfo for the latter’s services.