ECARX Holdings Inc. - ECX STOCK NEWS

ECARX Holdings Inc. (Nasdaq: ECX) filed its annual report on Form 20-F for the fiscal year ending December 31, 2022, with the Securities and Exchange Commission. The report is accessible on the company's investor relations website. ECARX, a global mobility tech provider, focuses on enhancing the automotive sector's transition to an all-electric future by developing a full-stack solution including central computers, System-on-a-Chip, and software for improved in-car experiences. The company's technologies are integrated into over 4.7 million cars worldwide. Founded in 2017, ECARX employs around 1,500 individuals and is co-founded by Ziyu Shen and Eric Li, the latter being the chairman of Geely Holding Group, a major automotive conglomerate.

ECARX Holdings reported strong financial results for FY 2022 with a revenue increase of 28% year-over-year, totaling $515.7 million. The fourth quarter saw a revenue surge of 44% to $221.4 million. Gross profit for FY 2022 rose 21% to $143.6 million, while Q4 gross profit increased 30% to $62.0 million. Despite the growth, the company faced a net loss of $223.5 million for the full year and $107.3 million in Q4, due to rising research and development and share-based compensation costs. For FY 2023, ECARX expects revenue growth of approximately 38% year-over-year and aims for adjusted EBITDA breakeven by the end of FY 2024.

ECARX Holdings (Nasdaq: ECX) and XINGJI MEIZU demonstrated innovative automotive solutions at Auto Shanghai 2023. Their joint theme, “Infinite Fusion”, highlights a new paradigm in integrated automotive intelligence.

Located in Hall 6.1, their booth attracted significant attention from industry leaders, showcasing products such as the ECARX Antora1000 Pro computing platform and the Flyme Auto system, which integrates smartphones with vehicles. The collaboration aims to bridge consumer electronics and automotive technology, enhancing user experiences.

Furthermore, ECARX announced a strategic partnership with AAC Technologies to improve cockpit acoustics, while XINGJI MEIZU launched its flagship Meizu 20 smartphone. ECARX continues to innovate robust solutions, having integrated its technology into over 3.7 million vehicles worldwide.

ECARX Holdings, Inc. (Nasdaq: ECX) announced its fourth quarter and full year 2022 financial results will be released on April 24, 2023, prior to U.S. market opening. An earnings conference call will follow at 8:00 AM ET for analysts and investors. In addition, the company is hosting its inaugural Investor Day on May 9, 2023, in New York City, featuring presentations from its executive team focused on strategic vision and financial targets. ECARX, a leading mobility tech provider, is actively reshaping the automotive industry with its solutions integrated into over 3.7 million cars globally.

LONDON, March 30, 2023 (GLOBE NEWSWIRE) -- ECARX Holdings (Nasdaq: ECX) will host its inaugural Investor Day on May 9, 2023, in New York City. The event will feature key presentations from CEO Ziyu Shen, COO Peter Cirino, CFO Ramesh Narasimhan, and others, focusing on the company's strategic vision, technology developments, and financial targets. Start time is set for 8 a.m. EDT, with a Q&A session included. The event will be available publicly via webcast, while in-person attendance is limited to invited guests. Interested institutional investors can contact Adam Kay for details. A replay of the event will be accessible on the investor relations website.

ECARX Holdings, Inc. (Nasdaq: ECX) has appointed Mr. Jun Hong Heng as a member of its audit, compensation, and nominating committees, effective March 30, 2023. With these new appointments, the committees will include members Ms. Grace Hui Tang, Mr. Jim Zhang, and Mr. Heng. ECARX is a mobility tech provider aiming to revolutionize the automotive industry. The company has integrated its technology into over 3.7 million vehicles globally and employs nearly 2,000 people. Founded in 2017, ECARX is co-founded by automotive leaders Ziyu Shen and Eric Li, who is also associated with Zhejiang Geely Holding Group.

ECARX (Nasdaq: ECX), in collaboration with SiEngine and FAW, is developing a high-performance digital cockpit based on the SE1000 System-on-the-Chip (SoC). The digital cockpit is set for mass production by the end of 2023 and aims to enhance FAW vehicles with advanced features. Incorporating ECARX's custom hardware and software, the platform utilizes a 7nm AI processor with high computing power, supporting intelligent driving functions and multiple screen outputs. This partnership is crucial for ECARX's expansion and reflects its commitment to innovating in the automotive sector, following its Nasdaq listing in December 2022.