AutoNavi Serves As Event Partner At The Telematics@China 2010 Conference
BEIJING, Dec. 17, 2010 (GLOBE NEWSWIRE) -- AutoNavi Holdings Limited ("AutoNavi" or the "Company") (Nasdaq:AMAP), a leading provider of digital map content and navigation and location-based solutions in China, served as an event partner for the Telematics@China 2010 Conference at the Regal International East Asia Hotel in Shanghai, China from December 8-9, 2010.
The event was a two-day forum on the telematics industry, focusing on the integrated use of GPS and mobile communications technology in automotive navigation systems. The conference attracted more than 700 representatives from a diverse cross-section of industries including telecom operators China Mobile, China Unicom and China Telecom, over twenty automakers, such as Audi, BMW and Mercedes-Benz, and the Shanghai Automotive Industry Corporation Group. The forum provided a platform for technology exchange and information sharing across industries.
AutoNavi's Chief Technology Officer, Mr. Yongqi Yang, commented on the conference, "We are pleased to have been a part of this truly global conference, where industry leaders came together to collaborate and exchange ideas. The telematics industry is a rapidly growing industry situated at the intersection of automotive navigation and mobile communications. Through our wealth of experience with navigation and our deep understanding of location-based solutions, we believe that we are well-positioned to capitalize on the tremendous growth opportunities that lie ahead in this emerging field."Mr. Yang presented at the conference and was joined by delegates from participating institutions including the Ministry of Industry and Information Technology and Goldman Sachs. About AutoNavi Holdings Limited AutoNavi Holdings Limited (Nasdaq:AMAP) is a leading provider of digital map content and navigation and location-based solutions in China. At the core of its business is a comprehensive nationwide digital map database that covers approximately 2.8 million kilometers of roadway and over 12.5 million points of interest across China. Through its digital map database and proprietary technology platform, AutoNavi provides comprehensive, integrated navigation and location-based solutions optimized for the Chinese market and users, including automotive navigation solutions, public sector and enterprise applications, wireless location-based solutions and Internet location-based solutions. For more information on AutoNavi, please visit http://www.autonavi.com . The AutoNavi Holdings Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8262 Forward Looking Statements This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, quotations from management in this press release, as well as AutoNavi's strategic and operational plans, contain forward-looking statements. AutoNavi may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about AutoNavi's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: AutoNavi's ability to adequately maintain and update its digital map database and minimize errors in its solutions; its current reliance on the automotive navigation market and a small number of customers for a substantial portion of its revenues; the project-based nature of its public sector and enterprise applications business; its limited operating history in the wireless/Internet location-based solutions markets; compliance with a complex set of laws, rules and regulations governing its surveying and mapping and other businesses in China; competition in the navigation and location-based solutions businesses in China; and its ability to manage its growth effectively and efficiently. Further information regarding these and other risks is included in AutoNavi's registration statement on Form F-1 filed with the Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and AutoNavi undertakes no duty to update such information, except as required under applicable law.
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