Navinfo to develop parking software for BAIC New Energy

Navinfo Co., Ltd. announced it has signed a "Parts Development Contract" with Beijing New Energy Automobile Co., Ltd. (BAIC New Energy) to develop parking software for two BAIC New Energy vehicle models. According to the announcement, the agreement establishes a cooperative relationship between the two companies, with Navinfo leveraging its R&D capabilities to meet BAIC New Energy's demand for advanced driver-assistance systems. Navinfo emphasized that the contract is not expected to have a significant impact on the company's financial performance in the current year, but future impacts will depend on the progress of subsequent projects. The announcement clarified that the agreement does not constitute a related-party transaction or a major asset restructuring as defined by Shenzhen Stock Exchange regulations.