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

2571.HK
300466.SHE
WeRide, Pony AI makes infrastructure

 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

To subscribe to Bamboo Works weekly free newsletter, click here

,
, , ,

Related Articles

RELATED ARTICLES

No related posts.

Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

WeRide is enjoying a payoff from expanding its global taxi flee

Robotaxi rollout drives faster earnings pace at WeRide

The driverless technology company is enjoying a payoff from expanding its global taxi fleet, with quarterly revenues surging and losses continuing to shrink Key Takeaways: Third-quarter revenue more than doubled,…
0800.HK
WRD.US
Illustration of Luckin and Costa coffee being tasted

Luckin Coffee eyes global leap as China’s Double 11 loses its luster

Luckin could be preparing a bid for Costa Coffee. What's driving this potential deal, and what are its chances for success? And this year's Double 11 festival looks like a dud, with most big e-commerce companies failing to publish any big numbers. What does the future hold for this fast-fading shopping fest?