BEIJING, Oct. 24, 2013 (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, today announced that more than 30,000 traditional retail, or "offline" stores operated by brands with flagship storefronts on Alibaba Group's business-to-consumer platform, Tmall.com, will utilize AutoNavi's AMAP mobile map app to provide online-to-offline services as part of the "11.11 Shopping Festival." The shopping festival coincides with the unofficial holiday "Singles Day," which is popular among China's young and unmarried, and celebrated annually on November 11.
A new feature specifically designed for the promotion has been included in the most recent version of AMAP and will allow users to identify nearby offline brand stores that are participating in the event. Users will be able to use AMAP's route planning and online navigation services to visit physical shops, collect coupons, and try the products they are interested in. Users will also be able to access Tmall.com storefronts to view product information, redeem coupons and complete online purchases all within AMAP.
"We expect that our collaboration with Tmall.com will help showcase how dynamic, real-time map content can break down the barriers between online users and offline merchants, while enhancing the overall online shopping experience," said Mr. Congwu Cheng, chairman and chief executive officer of AutoNavi. "Although the cooperation during the 11.11 Shopping Festival is only a trial that will not generate revenue for us, it reflects our shared commitment with Alibaba Group to develop mobile commerce models that address the needs of local merchants and facilitate online engagements with consumers, which ultimately help drive both online and offline transactions for merchants. We expect to conduct similar trials in the future."
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 mobile location-based solutions and Internet location-based solutions, automotive navigation solutions, and public sector and enterprise applications.
For more information on AutoNavi, please visit http://www.autonavi.com.
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 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.
CONTACT: For investor and media inquiries please contact: In China: Investor Relations AutoNavi Holdings Limited Tel: +86-10-8410-7883 E-mail: firstname.lastname@example.org Derek Mitchell Ogilvy Financial, Beijing Tel: +86-10-8520-3073 E-mail: email@example.com In the U.S.: Justin Knapp Ogilvy Financial, USA Tel: +1-616-551-9714 E-mail: firstname.lastname@example.org
Source:AutoNavi Holdings Limited