ECARX (ECX) Registration Filing summary

Company overview and business model

• Specializes in automotive intelligence, offering infotainment head units, digital cockpits, vehicle chip-set solutions, core operating systems, and integrated software stacks for smart mobility applications.

• Over 8.7 million vehicles globally use its products; serves 28 vehicle brands with a workforce of 1,800 across China, UK, USA, Sweden, and Germany, with 70% in R&D.

• Product portfolio includes advanced computing platforms (Antora, Makalu, Atlas, Pikes, Galena), SoC core modules, operating systems, middleware, and in-house generative AI (AutoGPT) for automotive applications.

• Recent partnerships with FAW Group, Qualcomm, and Samsung aim to expand intelligent cockpit, ADAS, and lidar solutions, and diversify applications beyond automotive into robotics and AI.

Financial performance and metrics

• Q1 2025 revenue was RMB1,222.4 million (US$168.5 million), up 30% year-over-year; gross profit was RMB242.5 million (US$33.5 million), up 19% year-over-year.

• Net loss for Q1 2025 was RMB196.9 million (US$27.0 million), a significant improvement from RMB304.0 million in Q1 2024, driven by higher software and service revenue and reduced operating expenses.

• Adjusted EBITDA for Q1 2025 was negative RMB105.4 million (US$14.4 million), improved from negative RMB223.9 million in Q1 2024.

• Total cash as of March 31, 2025 was RMB933.0 million (US$128.6 million); shareholders' deficit was RMB1,665.8 million (US$229.5 million).

• Board authorized a share repurchase program up to US$40 million, extended to March 31, 2026.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in applicable prospectus supplements; no specific allocation detailed in the base prospectus.