BRIEF: Saimo, AutoNavi to co-develop smart platform ecosystem

 Intelligent connected vehicle (ICV) simulation testing company  Beijing Saimo Technology Co. Ltd. (2571.HK; 300466.SZ) said on Wednesday it signed a three-year collaboration agreement with AutoNavi Software to co-develop a platform ecosystem for smart equipment, intelligent transportation and smart cities.

 AutoNavi is a Chinese provider of digital maps, navigation and real-time traffic information services, providing one-stop travel-related services for navigation, taxi-hailing, hotel reservations and ticketing.

Saimo said the partnership will leverage both parties’ resources and professional advantages. Shares of Saimo opened up 3% at HK$14.06 on Monday, but later reversed course and were down 0.88% in the afternoon. The stock is up 8% from its IPO price earlier this year.

By Lau Chi Hang

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