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ECARX Holdings Inc. (Nasdaq: ECX) is a leading global automotive technology provider dedicated to delivering advanced solutions for the next generation of smart vehicles. Founded in 2017 and publicly listed on the Nasdaq in 2022, ECARX has rapidly scaled its operations with over 2,000 employees spread across 12 major locations, including China, the UK, USA, Sweden, Germany, and Malaysia.
At the core of ECARX's business are their system-on-chip (SoC) core modules, automotive computing platform products, and comprehensive software stacks. Their key offerings include infotainment head units, digital cockpits, vehicle chip-set solutions, and an integrated core operating system. Committed to automotive intelligence and networking, they are actively developing a full-stack automotive computing platform designed to enhance user experience while reducing complexity and cost.
ECARX's recent accomplishments highlight their innovative prowess and industry impact. In April 2024, ECARX announced a strategic partnership with China FAW Group Co., Ltd. to develop next-generation intelligent cockpits for the premium Hongqi brand of vehicles. This collaboration aims to set new benchmarks in the industry through joint research and development efforts. In May 2024, ECARX celebrated the first deliveries of the Lynk & Co 07 EM-P sedan, which integrates ECARX’s full-stack solution for digital cockpits and advanced driver-assistance systems (ADAS), including their proprietary Antora® 1000 Pro, Skyland Pro, and Flyme Auto technologies.
ECARX's strategic partnerships extend beyond FAW Group to include prominent automotive brands such as Lotus, Lynk & Co, Polestar, Smart, and Volvo Cars. These collaborations are a testament to ECARX's reputation for quality and innovation in the automotive tech industry.
For stakeholders and investors, ECARX provides a transparent and accessible view of its financial health and strategic direction. The company's annual report, containing audited consolidated financial statements, is available on the ECARX investor relations website. They also offer hard copies free of charge upon request.
With a solid foundation and a focus on innovation, ECARX continues to drive advancements in automotive technology, ensuring their products and solutions remain at the forefront of the industry.
ECARX Holdings (Nasdaq: ECX) has announced a share repurchase program authorizing the buyback of up to $20 million worth of ordinary shares. The program will run until September 30, 2025. Repurchases may be executed through open market transactions, private negotiations, block trades, or other legal means, subject to market conditions and regulations. The company plans to fund the buybacks using its existing cash reserves. The board will periodically review and may adjust the program's terms and size. All transactions will comply with SEC Rules 10b-18 and 10b5-1 requirements.
ECARX Holdings (Nasdaq: ECX) received a special recognition award from the Saudi Standards, Metrology, and Quality Organization (SASO) at Saudi Arabia National Quality Conference for its contributions to AI-driven automotive innovation. The conference gathered over 60 industry leaders focused on technological innovation and sustainable development. Senior Director of Product Siying Gong presented on 'Generative AI in Quality Assurance,' highlighting ECARX AutoGPT, which features AutoAgent, AutoFlow, AutoScene, and AutoEco capabilities designed to enhance in-vehicle experience.
ECARX Holdings showcased its Skyland Pro ADAS solution at AutoSens China 2024, demonstrating high-performance, cost-effective intelligent driving capabilities. Jie Zhang, ADAS Product Director, presented on balancing performance and cost in driving and parking ADAS solutions. The Skyland Pro, currently in mass production, powers vehicles including Lynk & Co 08 EM-P and 07 EM-P models, featuring parking assistance and highway Navigate-on-Autopilot (NOA). ECARX aims to scale this technology across various brands while continuing to enhance its performance.
ECARX Holdings (Nasdaq: ECX) has signed a three-year components procurement and R&D services agreement with Geely Auto. The agreement, effective until December 31, 2027, includes annual caps of RMB6,387.281 million, RMB6,430.855 million, and RMB6,489.889 million for 2025, 2026, and 2027 respectively. ECARX will provide automobile components and R&D services to enhance Geely Auto's new energy vehicles driving technology system. The company will continue supporting brands within Geely Auto, such as ZEEKR and LYNK & CO, while maintaining its commitment to serve external brands like Volvo, smart, Lotus, and Polestar.
ECARX reported Q3 2024 financial results with total revenue of RMB1,425.3 million (US$203.1 million), up 31% YoY. Sales of goods revenue increased 61% YoY to RMB1,179.9 million, while software license and service revenue declined 39% and 26% YoY respectively. The company reported a gross margin of 17%, down from previous year due to penetration pricing strategy. Net loss widened to RMB340.0 million. Notable achievements include over 7.3 million vehicles incorporating ECARX technology, two new design wins, and products under development for over 40 vehicle models. The company expanded its product portfolio with launches of Antora 1000SPB and Pikes computing platforms.
ECARX Holdings (Nasdaq: ECX) announced the global launch of the smart #5, a premium mid-size SUV featuring ECARX's Makalu® computing platform powered by AMD Ryzen™ Embedded V2000 Series processors. The vehicle debuted in Australia in August, incorporating Mercedes-Benz's 'Sensual Purity' design philosophy. The smart #5 features six interconnected screens and supports AI applications with Unreal Engine graphics. The vehicle introduces the 'Crystal Prism' design, evolving from smart's 'Low Poly' style, enhanced by 3D UI designs and visual effects.
ECARX Holdings, Inc. (Nasdaq: ECX), a global mobility tech provider, has announced it will report its third quarter 2024 financial results on November 7, 2024, before the U.S. market opens. The company will hold an earnings conference call and live audio webcast on the same day at 8:00 a.m. U.S. ET to discuss the financial results and answer questions from analysts and institutional investors.
To participate in the live conference call, interested parties must register in advance to receive call details and international access numbers. The webcast link and registration details are provided in the announcement. Participants are encouraged to join at least 15 minutes early to ensure a timely connection. An audio replay and presentation materials will be available on ECARX's investor relations website following the event.
ECARX Holdings Inc. (Nasdaq: ECX) and AMD have announced the successful launch of the Lynk & Co. Z10 flagship luxury sedan, featuring ECARX's Makalu® computing platform powered by AMD Ryzen™ Embedded V2000 processors. The Z10, which debuted in Sweden in June 2024, showcases the platform's capabilities in automotive digital cockpit innovation.
The Makalu® platform, utilizing AMD Ryzen Embedded V2000 processors with integrated AMD Radeon™ Graphics, offers unparalleled 3D graphics, security, and entertainment features. ECARX's Cloudpeak® software stack optimizes the processor's performance, providing a customizable and intelligent platform for infotainment and advanced driver assistance systems.
ECARX CEO Ziyu Shen expressed confidence in scaling this solution with other automakers, building on their successful collaboration with Lynk & Co.
ECARX Holdings Inc. (Nasdaq: ECX), a global mobility tech provider, has partnered with MulticoreWare Inc. to optimize algorithms for intelligent driving solutions on multi-core heterogeneous compute platforms. The collaboration aims to enhance performance for ECARX's advanced driving systems, integrating CPU, GPU, and DSP technologies. MulticoreWare has already achieved significant optimization of ECARX's vehicle software algorithms, now operational in the Lynk & Co 08 EM-P with positive market feedback.
The partnership focuses on improving edge intelligent driving systems, enhancing response times and accuracy, while accelerating time-to-market for mass production. This collaboration underscores ECARX's commitment to creating a robust ecosystem with automotive software and hardware manufacturers, driving mutual success and advancing the development of cutting-edge AI technologies for the global automotive industry.
ECARX Holdings Inc. (Nasdaq: ECX) reported strong Q2 2024 financial results, with total revenue up 31% YoY to RMB1,257.5 million (US$173.0 million). Key highlights include:
- Over 6.9 million vehicles on the road now incorporate ECARX technology, a 32% increase from last year.
- Sales of goods revenue increased 41% YoY to RMB943.6 million (US$129.8 million).
- Service revenue grew 45% YoY to RMB257.4 million (US$35.4 million).
- Gross profit decreased 3% YoY to RMB291.5 million (US$40.1 million) with a 23% gross margin.
- Net loss widened to RMB306.4 million (US$42.3 million).
ECARX secured new design wins, expanded partnerships with Tencent Smart Transportation and DXC Luxoft, and launched production at its Fuyang facility. The company remains confident in its growth trajectory and market positioning.
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