NavInfo's revenue increases 14.22% YoY in H1 2022

Beijing (Gasgoo)- China’s automotive intelligence tech developer NavInfo saw its semi-annual revenue grow by 14.22% year over year in the first half of 2022, according to the company’s financial report.

Photo credit: NavInfo

In the first six months of the year, NavInfo realized a revenue of 1.368 billion yuan ($201.6 million), resulting in a net loss of 35.17 million yuan ($5.18 million) attributable to shareholders, which was 36.79% narrower than a year ago.  

The company attributed the growth in revenue to its expanding business operation in the intelligent cloud and intelligent chip business segments. 

Specifically, NavInfo’s intelligent cloud sector brought in a revenue of 847 million yuan ($1.25 million) in the first half of 2022, representing an 18.6% growth from a year ago, accounting for 61.92% of the company’s total revenue.  

Meanwhile, holding a 15.53% share of NavInfo’s total revenue in the Jan.-Jun. period, the company’s intelligent chip sector realized a semi-annual revenue of 212 million yuan ($31.2 million), surging nearly 40% over the previous year. The company credited the growth to the successful localization and mass production development of its automotive-grade MCUs.