Investment Rating - The report maintains a "Buy" rating for the company with a target price of $6 [1][4]. Core Insights - The company reported Q1 2024 revenue of 930 million yuan, a year-on-year increase of 21.3%, and a net profit attributable to the parent company of -270 million yuan, showing slight improvement from the previous quarter [3]. - The company is expanding its global business and deepening international cooperation, having served 17 OEMs and 26 automotive brands, including a strategic agreement with China FAW in the smart cockpit sector [3][4]. - The company is committed to its positioning as an incremental component supplier, launching three new cockpit platforms based on Qualcomm SoC to meet global automotive demands [4]. Financial Performance and Forecast - The company forecasts total revenue for 2024, 2025, and 2026 to be 5.85 billion yuan, 8.21 billion yuan, and 10.53 billion yuan respectively, with year-on-year growth rates of 25.4%, 40.1%, and 28.4% [2][4]. - The net profit attributable to the parent company is expected to improve significantly, reaching 295 million yuan by 2026, representing a 696% increase compared to 2025 [2][4]. - The report indicates a P/E ratio of 12 for 2025 and 2 for 2026, suggesting strong future earnings potential [2][4]. Strategic Developments - The company has established a strategic partnership with Microsoft to enhance research and development efficiency and improve automotive intelligence [3][4]. - Recent acquisitions include Hubei Dongjun Automotive Electronics Technology Co., Ltd. and Suzhou Light Matrix Optoelectronics Technology Co., Ltd., aimed at enhancing local production capacity and developing laser radar technology [4].

SHANGHAI, China, May 21, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) ("ECARX" or the "Company"), a global mobility technology company, today congratulated Lynk & Co on the first deliveries of the Lynk & Co 07 EM-P sedan, which is integrated with ECARX's full-stack solution for digital cockpit and ADAS including Antora® 1000 Pro, Skyland Pro, and Flyme Auto. The EM-P 07 began deliveries on May 17, 2024. The Lynk & Co 07 EM-P was officially unveiled at the Beijing Auto Show 2024 in April, where ...

SHANGHAI, China, May 21, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (NASDAQ:ECX) ("ECARX" or the "Company"), a global mobility technology company, today congratulated Lynk & Co on the first deliveries of the Lynk & Co 07 EM-P sedan, which is integrated with ECARX's full-stack solution for digital cockpit and ADAS including Antora® 1000 Pro, Skyland Pro, and Flyme Auto. The EM-P 07 began deliveries on May 17, 2024. The Lynk & Co 07 EM-P was officially unveiled at the Beijing Auto Show 2024 in April, where ...

ECARX Holdings Inc. (NASDAQ:ECX) Q1 2024 Earnings Conference Call May 20, 2024 8:00 AM ET Company Participants Rene Du - IR Ziyu Shen - Chairman and CEO Peter Cirino - COO Phil Zhou - CFO Conference Call Participants Megan Jin - Macquarie Tony Shen - SPDB International Securities Limited Derek Soderberg - Cantor Fitzgerald Chang Xing - CICC Operator Good day and thank you for joining us. Welcome to ECARX First Quarter 2024 Earnings Conference Call. At this time all participants are in listen-only mode. Afte ...

First Quarter 2024 Financial Results ...

Exhibit 99.1 SHANGHAI, China, May 20, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (Nasdaq: ECX) (“ECARX” or the “Company”), a global mobility tech provider, today announced unaudited financial results for the quarter ended March 31, 2024. “The strong growth momentum that we picked up last year continued into the first quarter with revenues increasing 21% year-over-year,” commented ECARX Chairman and CEO Ziyu Shen. “The development of software-defined vehicles and their underpinning technologies will determ ...

SHANGHAI, China, May 03, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (NASDAQ:ECX) ("ECARX" or the "Company"), a global mobility technology company, today announced the launch of multiple intelligent driving and safety features for its Skyland Pro computing platform, which significantly enhance the intelligent driving experience. The new features were previewed during ECARX's second Tech Day, which was held in Hangzhou on March 20, 2024, and were released for the first time in the recent version 1.4.0 upda ...

Core Viewpoint - ECARX Holdings, Inc. will report its financial results for Q1 2024 on May 20, 2024, and will hold an earnings conference call to discuss these results [1][2]. Company Overview - ECARX is a global automotive technology provider specializing in 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 11 major locations worldwide, including China, the UK, the USA, Sweden, Germany, and Malaysia [4]. - 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 [4]. - ECARX's products are currently utilized in over 6 million vehicles globally [4].

SHANGHAI, China, April 18, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (NASDAQ:ECX) ("ECARX" or the "Company"), a global mobility technology provider, today announced a strategic partnership with China FAW Group Co., Ltd. ("FAW Group"), China's leading automaker, to develop next-generation intelligent cockpits for the premium Hongqi brand of vehicles. ECARX and FAW will combine their considerable research and development capabilities and technological strengths to build an end-to-end value chain for the de ...

SHANGHAI, China, April 03, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (NASDAQ:ECX) ("ECARX" or the Company"), a global mobility tech provider, today announced that its annual report on Form 20-F for the fiscal year ended December 31, 2023 has been filed with the Securities and Exchange Commission. The annual report can be accessed on the Company's investor relations website at www.ir.ecarxgroup.com. The Company will provide a hard copy of its annual report containing the audited consolidated financial sta ...