Upon the closing of the transaction, Mr. Joseph C. Tsai, executive vice chairman of Alibaba, and Mr. Eddie Wu, president of Alibaba's Mobile Products Division, will join AutoNavi's board of directors ("board") as directors. Meanwhile, Mr. Jun Hou, AutoNavi's current chairman of the board, will become the honorary chairman of the board, and Mr. Congwu Cheng, the Company's chief executive officer and a member of the board, will become executive chairman of the board.
Conference Call Information
AutoNavi's management will hold an earnings conference call at 8:00 p.m. Eastern Time on May 10, 2013 (8:00 a.m. Beijing/Hong Kong time on May 11, 2013).
The dial-in numbers and passcode for the conference call are as follows:
| U.S. Toll Free:
| Hong Kong:
| United Kingdom:
A replay of the conference call may be accessed by phone at the following number until May 18, 2013:
| U.S. Toll Free:
Additionally, an archived web-cast of this call will be available on the Investor Relations section of AutoNavi's website at
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 3.6 million kilometers of roadway and over 20 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 China market, including automotive navigation solutions, mobile location-based solutions and Internet location-based solutions, and public sector and enterprise applications. For more information on AutoNavi, please visit
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, the Business Outlook section and the 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 mobile/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 annual report on Form 20-F as well as in its other filings 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.