CHC Navigation announces 2022 Annual Performance Estimate

2023-01-17

Shanghai, China - January 17, 2023 - CHC Navigation | CHCNAV [Huace:300627.SZ] has announced the 2022 annual performance estimate covering the period from January 1, 2022 to December 31, 2022 and the performance estimate compared to the previous period.

Executive Statement on 2022 Estimates

• During the reporting period, the company's revenue and net profit continued to grow at a sustained pace. In response to the uncertain macroeconomic environment, the company actively responded, adjusted the market expansion strategy, seized development opportunities in the precision agriculture and hydrological survey markets, resulting in substantial performance growth.
• Concurrently, the company recorded positive results in business areas such as robotics and autonomous driving, and geospatial information.
• In terms of regional dimensions, the company made significant progress in the development of international markets with a notable diversification of exported products.
• The company continued to increase its R&D investments, making continuous breakthroughs in algorithms, chips, LiDAR and other related domains, enhancing the competitiveness of its core technology and its risk resilience capabilities, and developing industry-leading products and solutions to establish a solid foundation for the company's growth.
• The company implemented an active cost-control and efficiency-increasing policy, continuously optimized its management and operating system, and improved operational efficiency to provide a sound basis for further and sustainable development.
• The company continued to implement Employee Stock Option Plans to reward core personnel performances and strengthen team motivation and cohesion.

Disclaimer and Caution

The 2022 Annual Performance Estimate made in this press release is only a preliminary estimate made by the Company's Finance Department and reflects the Company's position as of the date of this release. For final financial information, please refer to the 2022 Annual Report to be duly published by the Company.  Investors are reminded to exercise caution in their investment decisions.

About CHC Navigation

CHC Navigation (CHCNAV) creates innovative navigation and positioning solutions to make customers' work more efficient. CHCNAV products and solutions cover multiple industries such as geospatial, construction, agriculture, and marine. With a presence across the globe, distributors in more than 120 countries, and more than 1,500 employees, today, CHC Navigation is recognized as one of the fastest-growing companies in geomatics technologies. For more information about CHC Navigation [Huace:300627.SZ], please visit: https://www.chcnav.com/