NavInfo's 2022 annual revenue increases 9.37% YoY

Beijing (Gasgoo)- NavInfo, the Chinese automotive intelligence product supplier, released its 2022 annual financial report on April 21, revealing an annual revenue of 3.347 billion yuan, up 9.37% year on year. 

Photo credit: NavInfo

In the past year, NavInfo’s core business segment, intelligent cloud business, generated a yearly revenue of 2.06 billion yuan, which edged up 3.14% from a year ago. Meanwhile, its intelligent driving business, which is gaining momentum, reported 131 million yuan of revenue, representing an outstanding year-on-year soar of 2,144.44%. Moreover, NavInfo’s intelligent chip business, which faced high demand and low supply, saw its yearly revenue reach 502 million yuan, indicating a surge of 42.68% from the prior-year period.

In 2022, NavInfo's intelligent driving business and technical investment experienced a significant growth, as the company continuously took mass-production order intakes and shipped its software & hardware integrated autonomous driving assistance systems.

During the past year, the company's products gained recognition from domestic and foreign customers with mass production and delivery continuing to accelerate. The growth in NavInfo's smart chip business revenue mainly benefited from the continuous volume shipments of automotive-grade MCU chips and smart cockpit chips. By the end of 2022, the company had cumulatively shipped 250 million chips, including 30 million MCU chips and 80 million IVI SoC chips.

In addition, in a bid to strengthen its ADAS localization and mass production capabilities, NavInfo has continued to increase R&D investment in this field during the past few years. 

In 2022, the number of technical personnel accounted for 70% of the company’s total workforce, while its technical investment jumped 24.9% year over year. Among them, R&D investment in the intelligent driving and smart chip segments went up by approximately 150 million yuan compared to that of the previous year.