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on august 28, after navinfo (002405sz) announced that it would jointly increase investment in navinfo with didi, people familiar with the matter revealed that the original 300-person team of didi’s smart transportation division joined navinfo, mainly responsible for the research and development of technologies such as smart cockpits.

in this regard, cheng peng, director and general manager of navinfo, exclusively responded to the first financial reporter that in addition to the capital injection from navinfo's listed company into siwei zhilian, didi also injected automotive intelligent assets, teams and cash.

according to the reporter’s exclusive information, siwei zhilian has plans to go public independently in the future, but it still depends on the situation of the capital market. “siwei zhilian’s new order business performance is not bad.” an insider told the reporter.

as of press time, navinfo's stock price fell by more than 2%.

on the morning of august 28, navinfo released an announcement stating that navinfo and didi smart transportation technology had increased their capital in navinfo.siwei zhilian is a company in which navinfo holds a stake. in the latest capital increase plan, navinfo plans to invest rmb 100 million to increase the capital of siwei zhilian. before this capital increase, the company directly held 30.29% of the equity of nanjing zhilian. as didi smart transportation also invested, after this capital increase, navinfo's direct shareholding in nanjing zhilian increased to 27.01%, and it is still the company's largest shareholder.

didi smart transportation increased its capital in siwei zhilian by valuing its 100% equity in ruilianxingchen (beijing) technology co., ltd. at rmb 450 million and rmb 220 million in cash, becoming the company's second largest shareholder, holding 16.46% of the company's shares.

didi said that navinfo is an important ecological partner of didi, and didi invested in navinfo in 2018. this time, didi smart transportation will work with navinfo and navinfo to carry out a deeper cooperation, focusing on the field of smart transportation and intensifying the exploration of intelligent travel scenarios.

the announcement shows that siwei zhilian specializes in intelligent networking business in the automotive industry, covering the fields of vehicle factory support and automotive after-sales market services. its business focuses on the field of smart cockpits, providing technical development, product development and service operations in smart navigation, internet of vehicles services and content, intelligent networking operating systems and solutions, internet of vehicles big data and operations, etc.

didi's investment in siwei zhilian is another important deal for the company in the electric vehicle sector. in august last year, didi sold its smart car development business to electric vehicle maker xiaopeng motors for us$744 million in exchange for a 3.25% stake.

according to the cooperation agreement between the two parties, xpeng motors promised to deliver a total of 360,000 new brand vehicles to didi chuxing in stages. if the performance target is achieved, xpeng will also issue up to 91.13 million class a common shares to didi, and didi's shareholding ratio will be further increased to about 5%.

in the second quarter of this year, didi's net profit was 1.7 billion yuan, compared with a net loss of 5 million yuan in the same period last year. however, while shrinking the boundaries of its smart car business, didi has not completely stopped exploring its smart driving business. it is understood that this transaction will not affect didi's l4 autonomous driving business, which is still operating normally.