Beijing (ZXZC)- On August 27, automotive intelligent solution provider NavInfo released its financial results for the first half of 2024 (H1 2024), showing solid growth across all business segments. The company reported total revenue of 1.667 billion yuan in the period, marking an 11.08% year-on-year increase.

Photo credit: NavInfo

NavInfo's intelligent driving business segment demonstrated exceptional performance, generating 124 million yuan in semi-annual revenue with a gross profit margin up by 20.77% compared to the same period last year. The intelligent cockpit segment earned 265 million yuan in revenue during the first half of this year, reflecting a 9.37% year-on-year rise, with its gross profit margin improving by 6.43%. NavInfo successfully delivered smart cockpit products to major automakers including Toyota, SAIC-GM-Wuling, and South Korea’s KG Mobility.

Meanwhile, NavInfo’s smart semiconductor business saw its H1 revenue jump 13.55% from  a year ago to 253 million yuan. Additionally, the company’s cloud-based services segment posted revenue of 1.017 billion yuan in the reporting period, up 15.82% year-on-year.