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The first extraordinary general meeting of Beijing NavInfo Technology Co., Ltd. in 2022 was held in Beijing. At the meeting, Cheng Peng, general manager of NavInfo, said, “Automakers come to us every day, asking us to distribute goods to them, but now Not enough”, although consumer electronics demand has declined, TSMC has given NavInfo more wafer capacity, but it can still only meet one-tenth of its demand.
NavInfo: Won the double crown of domestic automotive SoC and MCU, and has obtained more production capacity from TSMC
The strategic transformation of smart travel has achieved initial results, and a large number of new energy vehicle orders have been obtained
At present, automobiles are developing in the direction of electrification, networking, intelligence and sharing. NavInfo closely follows the development trend of automotive intelligence, and actively promotes the evolution and upgrading of traditional businesses to new service models, forming a business system of Zhiyun, Zhijia, Zhicai, and Zhixin, and initially completing the strategic transformation to an intelligent travel technology company.
Cheng Peng pointed out that in 2021, NavInfo’s new smart travel strategy transformation will show initial results, and the second growth curve will begin to rise. It is understood that NavInfo’s new operating income in 2021 will reach 3.060 billion yuan, a year-on-year increase of 42.48%, a new high since its listing, and its net profit will increase by 139.45% year-on-year. The performance inflection point has been established.
Affected by the domestic epidemic in the first half of 2022, many auto factories were forced to suspend production and production, and auto sales in the second quarter declined; It also affects car production. Cheng Peng said that the auto industry has been affected by the epidemic in the short term, but NavInfo’s customers are mainly BMW, Daimler, Volkswagen and other international brands, with strong ability to withstand pressure. The cloud, smart driving, smart cabin, and smart core businesses are not particularly affected.
This year, the new energy vehicle market has shown a rapid growth trend. According to data released by the Ministry of Public Security, as of the end of June, the number of new energy vehicles in the country reached 10.01 million, accounting for 3.23% of the total number of vehicles. Among them, the number of pure electric vehicles is 8.104 million, accounting for 80.93% of the total number of new energy vehicles. Cheng Peng pointed out that NavInfo has always put its research and development focus on the field of new energy vehicles. The unexpected development of the new energy vehicle market this year has also caused the company’s sales force to quickly shift and obtain some orders for new energy vehicles.
Cheng Peng further pointed out that there were few ADAS orders last year, and this year’s ADAS demand has surged, which is an excellent opportunity for the company to seize the share of new energy vehicles. Since NavInfo has made adequate preparations in the past few years, it has grabbed a lot of market share. Due to the high cost of ADAS solutions of foreign manufacturers and limited resources, they may not be able to supply some new demanders, and there are few domestic manufacturers with better ADAS technology, so NavInfo can obtain some orders.
However, NavInfo is not satisfied with this, and has more ambitious goals. Cheng Peng said that NavInfo’s revenue target is to quickly reach a scale of tens of billions of yuan from several billion yuan. If it is not affected by the epidemic, it may follow the company’s original plan.
The smart core business is at the leading level in China, and won the double crown of domestic automotive SoC and MCU
Zhixin is a highly anticipated business among NavInfo’s four major businesses. It is understood that the smart chip business mainly refers to the design, research and development, production and sales of automotive electronic chips for the use scenarios and mass production needs of the automotive body control domain, intelligent driving domain, intelligent cockpit domain, chassis domain, power domain, etc. Integrated and software-hardware integrated system solutions.
It is understood that automotive semiconductors are mainly divided into SoC, MCU, power semiconductors, sensor chips, memory chips, etc. At present, NavInfo has been involved in the field of automotive chips such as smart cockpit chips (SoC), automotive-grade microcontroller chips (MCU), tire pressure monitoring chips (TPMS), and automotive audio power devices (AMP).
Among them, NavInfo’s smart cockpit chip AC8015 has been installed and shipped in mass-produced models of many customers. It is expected that the shipment volume will exceed the target of one million by the end of 2022. Cheng Peng revealed that the AC8015 exceeded their expectations. It was successfully lit up and mass-produced for the first time. With its cost-effective advantage, it squeezed out NXP and Renesas and won many orders.
NavInfo is also promoting the research and development of the second-generation high-performance smart cockpit chip AC8025. Cheng Peng said that the AC8025 has just been designed and is expected to be put into production next year and mass-produced in 2024. The chip can support some of the functions of L2.
“SoC is complex enough and is the cornerstone of incubating other businesses. If SoC can be done well, we can spin off some people to make MCU.” Cheng Peng said. NavInfo’s first MCU chip 7840 that meets the requirements of automotive-grade functional safety will be lit in advance in Q1 of 2022, and will further expand the application of domestic MCUs in the field of automotive electronics in the future.
So far, NavInfo has made remarkable achievements in smart cockpit chips (SoC) and automotive-grade microcontroller chips (MCU). Cheng Peng said that these two chips are currently at the leading level in China and have become the champions of this segment.
But now there is still supply and demand for automotive semiconductors. Cheng Peng pointed out that NavInfo doesn’t care about the price increase of wafer foundries. If the foundry can give more capacity, they can get more revenue and profits from it, because automotive Chips are high-margin products.
When will the shortage of automotive semiconductors be relieved? Cheng Peng believes that automotive semiconductors will not be relieved until at least 2023, because automotive chips have high reliability and stability requirements, small quantities and many categories, and many manufacturers are reluctant to make efforts to do it.