NavInfo expects annual revenue of 3.06 billion to 3.42 billion yuan in 2023

Beijing (Gasgoo)- On January 30, NavInfo released its 2023 performance forecast, projecting a revenue of 3.06 billion to 3.42 billion yuan and a net loss of approximately 977 million to 1.221 billion yuan.

Photo credit: NavInfo

NavInfo highlighted the ongoing decrease in product unit prices within the automotive supply chain in 2023. In response to market dynamics, the company is steadfastly concentrating on automotive intelligence, developing core products, actively expanding market reach, transforming operational management, gradually transitioning from a product provider to a solution provider.

Throughout the year, NavInfo further clarified its business focus, emphasizing “intelligent driving” as its leading business line. The deployment volume of its integrated intelligent driving software and hardware products continues to rise, contributing to a year-on-year growth in smart driving business revenue. The company’s MCU chip products also saw increased sales compared to the previous year.

However, revenue declined in the Smart Cloud and Smart Cockpit businesses due to market competition and strategic adjustments.

Regarding the net loss, NavInfo identified three key factors: intense market competition affecting product gross margins, increased management and sales expenses due to proactive market adaptation efforts, and losses from some affiliated companies negatively impacting short-term performance.