Ainavi Systems Withdraws Voluntary Preliminary Review for KOSDAQ Listing

[Financial News] Ainavi Systems, a subsidiary of Thinkware and a mobility map platform company, has voluntarily withdrawn its preliminary review for KOSDAQ listing. The strategic decision aims to enhance both corporate value and market trust through a rescheduling of the listing timeline.
Ainavi Systems announced on the 23rd that it will reattempt listing next year with a more complete structure as the profitability of its global and autonomous driving businesses becomes more pronounced. The recent strengthening of review standards, which now emphasize not only technological prowess but also substantial sales performance, also influenced this decision.
Currently, Ainavi Systems is solidifying its revenue base in the global map application programming interface (API) business. Through a partnership with TomTom, it plans to supply map platforms to overseas markets starting with Taiwan, followed by the Asia-Pacific (APAC) and North America. From the second half of this year, it will provide commercial services to local mobility companies in Taiwan, aiming to generate revenue.
In the field of autonomous driving, the company is also advancing its technology. It is preparing for the commercialization of autonomous driving Level 2+ by integrating its HD map and ADASIS v3-based transmission technology into KG Mobility's 'Deep Control' system. It has also been selected for the Ministry of Trade, Industry and Energy's national project for SDV-based autonomous driving solutions. This project aims to develop and commercialize Level 2.9 autonomous driving technology over four years.
A representative from Ainavi Systems stated, "Next year, when the monetization of core technology areas such as map API and autonomous driving solutions becomes visible, we plan to reattempt listing with a more complete structure that combines technological capability and business viability," adding, "The decision prioritizes long-term growth and sustainable performance in the market after listing over short-term schedules."

jimnn@fnnews.com Shin Ji-min Reporter