China's IT Home subsidiary to buy smart driving assets from Zhejiang Jiike

Chinese technology company IT Home announced on September 29 that its controlling subsidiary, Chongqing Qianli Zhijia Technology, intends to sign an asset transfer agreement with Zhejiang Jiike Auto Research and Development. Under the proposed deal, Qianli Zhijia would acquire electronic equipment and installation engineering related to the research and development of smart driving systems from Zhejiang Jiike.

The transaction is valued at 34.44 million RMB (approximately $4.7 million USD). The assets include electronic equipment such as hardware-in-the-loop testing systems, CANoe devices, and network equipment purchased between 2022 and 2025. Additionally, the deal encompasses ongoing installation projects for automated testing systems for smart driving domain controllers and calibration sites for surround-view and forward-sensing camera systems.

IT Home reported significant financial growth in its latest half-year results. Revenue increased by 22.36% year-on-year to 5.12 billion RMB, while net profit attributable to shareholders surged by 151.25% to 78 million RMB. The company attributed the improved performance to increased investment in research and development alongside overall business improvements.

The company's intelligent assisted driving business has seen rapid commercialization. This segment generated 1.235 billion RMB in revenue, representing 24.3% of total operating income. The technology is integrated into 16 vehicle models with a user activation rate of 93%. The gross profit margin for the passenger vehicle business also saw a substantial increase.