NavInfo undergoes major shareholder transition

Beijing (Gasgoo)- On October 17, China's automotive intelligence solution developer NavInfo made an important announcement that the company received a "Share Transfer Registration Confirmation" issued by China Securities Depository and Clearing Corporation Limited and handed over by China Siwei Surveying and Mapping Technology Co., ltd. (referred to as "China Siwei"). 

Photo credit: NavInfo

In this confirmation, it was detailed that China Siwei had successfully transferred 147,843,309 shares (6.22% of the company's total share capital) to Beijing Yitang Xincheng Technology Partnership Enterprise (Limited Partnership) (referred to as "Yitang Xincheng"). This change marked the transition of NavInfo's largest shareholder from China Siwei to Yitang Xincheng.

Yitang Xincheng is ultimately controlled by Beijing E-Town International Investment & Development Co., Ltd. (referred to as "E-Town International"). Beijing Yitang Tongzhou Equity Investment Center (Limited Partnership), an entity fully owned by E-Town International, currently holds 80,000,000 shares of NavInfo (3.36% of the total share capital). Therefore, following the completion of this share transfer, E-Town International will cumulatively possess a 9.58% shareholding voting rights in NavInfo.

This strategic shift signifies NavInfo's formal entry into the investment landscape of the Beijing Economic-Technological Development Area and the intelligent connected vehicle industry chain. This move is expected to facilitate the efficient implementation of autonomous driving-related operations. 

NavInfo, guided by the development area, will engage in collaborative efforts with more local enterprises to jointly produce high-quality products. Positioned to innovate, NavInfo will pool more resources to enhance the competitive edge of its core automotive intelligence products and services. Furthermore, it will provide more precise automotive intelligence product solutions, catering to customer needs and challenges.