Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was RMB1.3 billion, representing a 31% year-over-year increase [21] - Computing hardware goods revenue increased by 41% year-over-year to RMB944 million, driven by demand for the Volvo EX30 and Polestar 4 [21] - Software license revenue decreased by 50% year-over-year to RMB57 million due to a drop in intellectual property licenses [22] - Service revenue increased by 45% year-over-year to RMB257 million, attributed to new vehicle program launches and growth in overseas TSP business [22] - Gross profit was RMB292 million, a 3% year-over-year decrease, with a gross margin of 23%, which is a 1% sequential increase [22][23] - Operating expenses increased by 12% year-over-year, primarily due to share-based compensation [23] Business Line Data and Key Metrics Changes - The company secured five new design wins during the quarter, primarily for overseas projects, indicating a growing customer base [11][12] - Over 6.9 million vehicles on the road now incorporate ECARX technology, with 472,000 vehicles added in this quarter alone, marking a 32% year-over-year increase [6][10] Market Data and Key Metrics Changes - Global car sales are projected to reach around 88 million vehicles in 2024, an increase of 2% to 3% year-over-year [4] - China's vehicle sales were 12 million in the first half of the year, with exports reaching 3.8 million, a 6% increase year-over-year [5] - Chinese electric vehicle sales were robust at 84.9 million during the same period, reflecting a 32% year-over-year increase [5] Company Strategy and Development Direction - The company aims to capitalize on the transition towards software-defined vehicles and is focused on expanding its product portfolio and customer base [4][5] - Strategic partnerships, such as with Tencent Smart Transportation and DXC Luxoft, are intended to enhance intelligent driving and cockpit solutions [8][12] - The company is committed to vertical integration of manufacturing and supply chain capabilities to improve product quality and reduce costs [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive significant growth, citing a mature technology ready for wider deployment [10] - The company is optimistic about maintaining a sustainable growth trajectory and creating long-term value for shareholders [10][24] - Management acknowledged ongoing pricing pressures in the automotive industry but emphasized efforts to optimize costs and improve operational efficiencies [23][50] Other Important Information - The company has a robust intellectual property portfolio with 598 registered patents and 656 pending patent applications as of June 30 [14] - The new manufacturing facility in Fuyang began production in April, enhancing the company's ability to control product quality and streamline operations [18] Q&A Session Summary Question: Service revenue increase explanation - Management attributed the 45% increase in service revenue to the launch of new vehicle programs and growth in overseas TSP business [28] Question: Gross margin decrease explanation - The decrease in gross margin was due to pricing pressure across the industry, but management noted improvements in supply chain management helped stabilize margins [30] Question: Strategy for competing for orders from Geely Group - The company focuses on diversifying its customer base while maintaining strong relationships with Geely, targeting both high-end and cost-effective solutions [32][33] Question: Guidance on product portfolio pricing - Management indicated that their product portfolio effectively serves a range of vehicles at different price points, from high-end to cost-effective solutions [36] Question: Drivers of hardware sales growth - The robust 41% growth in hardware sales was driven by increased demand and shipments, particularly for the Volvo EX30 and Polestar 4 [39] Question: Expectations for overseas revenue proportion - Management aims for international sales to account for at least 40% of total revenue by 2026-2027, with ongoing investments in global R&D and manufacturing [62] Question: Chip procurement strategy in response to local policies - The company is well-positioned to manage local chip procurement needs while maintaining strong relationships with global technology suppliers [65] Question: Progress on cooperation with FAW - The cooperation with FAW is progressing smoothly, with plans to launch multiple vehicle programs in the next two years [69]

Core Insights - ECARX Holdings Inc. has sold its 40% minority stake in HaleyTek AB to Volvo Cars, transitioning HaleyTek into a fully-owned subsidiary of Volvo Cars [1][2] - The collaboration between ECARX and Volvo Cars will continue, focusing on developing technology solutions to enhance the driving experience for Volvo and Polestar vehicles [1][2][3] Company Overview - ECARX is a global automotive technology provider, established in 2017 and listed on Nasdaq in 2022, with nearly 2,000 employees across 12 locations [4] - The company specializes in delivering full-stack solutions for next-generation smart vehicles, including system on a chip (SoC), computing platforms, and software [4] - ECARX products are currently integrated into over 6.4 million vehicles worldwide [4] Joint Venture Background - HaleyTek was created in 2021 as a joint venture between ECARX and Volvo Cars to develop software for Android-powered infotainment systems [2] - The collaboration has resulted in a leading software stack for in-vehicle infotainment solutions, enhancing the user experience in current Volvo and Polestar vehicles [2] Future Collaboration - With Volvo Cars taking full ownership of HaleyTek, ECARX will work directly with Volvo on various projects to expand upon HaleyTek's developments [2][3] - The strategic partnership aims to deliver a broader range of industry-leading solutions to improve the driving experience [2]

Core Insights - ECARX Holdings Inc. has sold its 40% minority stake in HaleyTek AB to Volvo Cars, transitioning HaleyTek into a fully-owned subsidiary of Volvo Cars [1][2] - The collaboration between ECARX and Volvo Cars will continue, focusing on developing technology solutions to enhance the driving experience for Volvo and Polestar vehicles [1][2][3] Company Overview - ECARX is a global automotive technology provider, established in 2017 and listed on Nasdaq in 2022, with nearly 2,000 employees across 12 locations [4] - The company specializes in delivering full-stack solutions for next-generation smart vehicles, including system on a chip (SoC), computing platforms, and software [4] - ECARX products are currently integrated into over 6.4 million vehicles worldwide [4] Joint Venture Background - HaleyTek was created in 2021 as a joint venture between ECARX and Volvo Cars to develop software for Android-powered infotainment systems [2] - The collaboration has resulted in a world-leading software stack for in-vehicle infotainment solutions, enhancing the user experience in current Volvo and Polestar vehicles [2] Future Collaboration - With Volvo Cars taking full ownership of HaleyTek, ECARX will work directly with Volvo on various projects to expand upon HaleyTek's developments [2][3] - The strategic partnership aims to deliver a broader range of industry-leading solutions to improve the driving experience [2]

Company Updates - ECARX Holdings Inc. announced the appointment of Mr. Tao Li as a director, effective July 29, 2024, replacing Mr. Tan Su who resigned for personal reasons [1] - Mr. Li has extensive experience in R&D efficiency and AI technology application, having joined Baidu in 2012 and currently serving as general manager of Baidu's Apollo intelligent cockpit business since 2024 [1] Company Overview - ECARX is a global automotive technology provider that offers turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), computing platforms, and software [2] - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 2,000 people across 12 major locations worldwide, including China, the UK, the USA, Sweden, Germany, and Malaysia [3] - The company was co-founded by Ziyu Shen and Eric Li, who is also the chairman of Zhejiang Geely Holding Group, which has ownership interests in brands like Lotus, Lynk & Co, Polestar, Smart, and Volvo Cars [3] - ECARX collaborates with notable automakers such as FAW and Dongfeng Peugeot-Citroën, with its products present in over 6.4 million vehicles globally [3]

Company Overview - ECARX Holdings Inc. is a global mobility tech provider focused on delivering turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), computing platforms, and software [2] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 2,000 employees across 12 major locations worldwide, including China, the UK, the USA, Sweden, Germany, and Malaysia [3] - The company was co-founded by Ziyu Shen and Eric Li, who is also the founder and chairman of Zhejiang Geely Holding Group, which has ownership interests in brands like Lotus, Lynk & Co, Polestar, Smart, and Volvo Cars [3] - ECARX products are currently integrated into over 6.4 million vehicles globally [3] Recent Developments - Mr. Tao Li has been appointed as a director of ECARX effective July 29, 2024, replacing Mr. Tan Su, who resigned for personal reasons [1] - Mr. Li has extensive experience in R&D efficiency and AI technology application, having joined Baidu in 2012 and currently serving as the general manager of Baidu's Apollo intelligent cockpit business since 2024 [1]

Company Overview - ECARX Holdings, Inc. is a global mobility tech provider specializing in automotive technology solutions, including system on a chip (SoC), computing platforms, and software for next-generation smart vehicles [3][4] - Founded in 2017 and listed on Nasdaq in 2022, the company has over 2,000 employees across 12 major locations worldwide, including China, the UK, the USA, Sweden, Germany, and Malaysia [4] - The co-founders are Ziyu Shen and Eric Li, who is also the founder and chairman of Zhejiang Geely Holding Group, which has interests in brands like Lotus, Lynk & Co, Polestar, Smart, and Volvo Cars [4] Financial Results Announcement - ECARX will report its financial results for the second quarter ended June 30, 2024, before U.S. markets open on August 8, 2024 [1] - The management team will hold an earnings conference call and live audio webcast to discuss the financial results and answer questions from analysts and investors [1] Conference Call Details - The earnings conference call is scheduled for August 8, 2024, at 8:00 a.m. U.S. ET, with a live webcast available on the company's investor relations website [1][2] - Participants can join the call using specific dial-in numbers for the United States, Mainland China, Hong Kong, and the United Kingdom, with a conference ID provided [2]

Core Viewpoint - ECARX and DXC Luxoft are collaborating to enhance in-vehicle capabilities, focusing on infotainment, digital cockpit, and advanced driver assistance systems to improve user experience for drivers [1][2][3] Group 1: Partnership Details - The partnership aims to facilitate automotive OEMs in leveraging software-defined vehicle capabilities to create innovative user experiences, including seamless access to apps and AI-powered voice assistants [2] - ECARX will utilize its turnkey solutions for smart vehicles, which include computing platforms and in-vehicle software, to support the development of next-generation software-defined vehicles [2][3] Group 2: Strategic Goals - The collaboration is designed to help automotive OEMs transform their business models and maximize the impact of software-defined vehicles on user experience [3] - ECARX's Chief Operating Officer emphasized the importance of integrating hardware and software to meet OEM needs and deliver customized user experiences, promoting software independence and business growth [3] Group 3: Company Background - ECARX is a global automotive technology provider, established in 2017 and listed on Nasdaq in 2022, with nearly 2,000 employees across 11 locations and products in over 6 million vehicles worldwide [4] - DXC Luxoft is recognized as a leader in digital transformation, providing automotive OEMs with deep domain expertise and innovative software development capabilities [5]

Core Insights - ECARX Holdings Inc. has strengthened its partnership with Tencent Smart Transportation to develop intelligent driving and cockpit solutions [1][2] - The collaboration aims to integrate ECARX's automotive intelligence solutions with Tencent's technologies in big data, cloud computing, AI, mapping services, and infotainment [1][2] - The partnership will focus on enhancing the intelligent driving experience and cockpit through Tencent's cloud-based maps and a platform for automotive intelligence large language models [2] Company Overview - ECARX is a global automotive technology provider offering turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [3] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 2,000 employees across 12 locations worldwide [4] - The company is co-founded by Ziyu Shen and Eric Li, with products present in over 6.4 million vehicles globally [4]

SHANGHAI, China, May 31, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) (“ECARX” or the “Company”), a global mobility tech provider, today announced that its Antora 1000 computing platform will power Geely's highly anticipated Galaxy E5 SUV, which debuted today. Based on the world-leading 7nm SE1000 SoC, which provides high-performance computing power of 100K DMIPS and 900G FLOPS graphics rendering capability through its industry-leading multi-core heterogeneous architecture, the ECARX Antora 10 ...

SHANGHAI, China, May 31, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (NASDAQ:ECX) ("ECARX" or the "Company"), a global mobility tech provider, today announced that its Antora 1000 computing platform will power Geely's highly anticipated Galaxy E5 SUV, which debuted today. Based on the world-leading 7nm SE1000 SoC, which provides high-performance computing power of 100K DMIPS and 900G FLOPS graphics rendering capability through its industry-leading multi-core heterogeneous architecture, the ECARX Antora 100 ...