Core Insights - ECARX Holdings Inc. announced the launch of its next-generation AI cockpit experience for the Lynk & Co 07 EM-P hybrid sedan and 08 EM-P hybrid SUV, utilizing its Pikes® computing platform and Cloudpeak® software stack [1][4] Group 1: Product and Technology - The Pikes® platform, powered by Qualcomm® Snapdragon™ SA8295P automotive-grade SoC, offers industry-leading compute performance, supporting features like AI Agent, instrument clusters, AR-HUDs, navigation, voice interaction, vehicle control, and infotainment [2] - Cloudpeak® enhances vehicle intelligence by integrating with the vehicle's E/E architecture, enabling the "Eva" AI agent to operate across various domains, and features a fully upgraded HMI with a 12.3-inch instrument cluster and a 15.4-inch central touchscreen [3] Group 2: Company Overview - ECARX, founded in 2017 and listed on Nasdaq in 2022, employs over 1,600 people across 13 locations globally, including China, the UK, the USA, and Germany [5] - The company is co-founded by Ziyu Shen and Eric Li, with partnerships including major automakers like Volkswagen Group and FAW Group, and its products are present in over 9.3 million vehicles worldwide [5]

Core Insights - ECARX Holdings Inc. announced the launch of the Geely Galaxy M9, featuring its Pikes® computing platform and Cloudpeak® software stack, which provides a next-generation AI cockpit experience. Orders for the Galaxy M9 exceeded 40,000 within 24 hours of pre-sales starting on August 23, indicating strong demand for this flagship model [1]. Group 1: Product Features - The Galaxy M9 utilizes a 5nm Qualcomm® Snapdragon™ SA8295P automotive-grade SoC, delivering the necessary processing power for advanced cockpit graphics, fluid animations, and robust on-device AI, including offline voice interactions [2]. - The vehicle features a multi-display configuration and is integrated with Flyme Auto 2 and multimodal large-model capabilities, offering an immersive and intelligent AI-driven experience [2]. - The Galaxy M9 introduces a large-scale deployment of an AI agent named "Eva," which integrates multimodal large models with the vehicle's E/E architecture, enhancing the human-vehicle interface across various domains such as instrument, HUD, infotainment, vehicle control, and ADAS [3]. Group 2: Company Overview - ECARX is a global automotive technology provider that offers full-stack solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [5]. - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,600 employees across 13 major locations worldwide, including China, the UK, the USA, Singapore, Malaysia, Sweden, and Germany [6]. - The company collaborates with various well-known automakers, including Volkswagen Group, FAW Group, and Dongfeng Peugeot-Citroën, and its products are present in over 9.3 million vehicles globally [6].

Core Insights - ECARX Holdings Inc. has launched a next-generation in-vehicle navigation system and the latest version of its Skyland New intelligent driving solution at IAA Mobility 2025 in Munich, highlighting its commitment to an innovative and scalable technology roadmap [1][4] Group 1: Navigation System - The new global navigation system is integrated with HERE's advanced navigation platform, designed for rapid integration and adaptability across more than 200 countries, ensuring compliance with international data regulations [2] - HERE's map data is utilized in over 222 million vehicles globally, supporting ECARX's goal to shorten automaker development cycles while adhering to regional regulatory requirements [2] - The navigation solution is currently supporting models from various automakers including Lotus, Lynk & Co, smart, and Hongqi, providing dynamic and personalized navigation experiences [2] Group 2: Intelligent Driving Solution - The latest iteration of the Skyland New intelligent driving solution utilizes a single system-on-a-chip architecture based on Black Sesame's Wudang C1236 chip, offering L2+ assisted driving and parking features [3] - Key features include map-free highway Navigate-on-Autopilot (NOA), Automatic Parking Assist (APA), and Remote Parking Assist (RPA), designed for cost-effective performance and seamless integration [3] - The Skyland solution, based on Black Sesame's Huashan A1000, is set to launch on the new Hongqi H9, H9+, and E-HS9 models by late 2025 [3] Group 3: Company Overview - ECARX is a global automotive technology provider that delivers full-stack solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [5] - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,600 people across 13 major locations worldwide [6] - The company has partnerships with notable automakers such as Volkswagen Group, FAW Group, and Dongfeng Peugeot-Citroën, with its products present in over 9.3 million vehicles globally [6]

Core Insights - ECARX Holdings Inc. congratulated Lynk & Co on the launch of the Lynk & Co 10 EM-P plug-in hybrid sedan, which integrates ECARX's Pikes computing platform and Cloudpeak software stack, setting new benchmarks for AI-powered intelligent cockpits [1][2] Company Overview - ECARX is a global automotive technology provider that delivers turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [4] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,600 employees across 13 major locations worldwide [5] - The company collaborates with notable automakers such as Volkswagen Group, FAW Group, and Dongfeng Peugeot-Citroën, with its products present in over 9.3 million vehicles globally [5] Technological Advancements - The Lynk & Co 10 EM-P features the Qualcomm Snapdragon SA8295P automotive-grade SoC, which supports advanced intelligent vehicle features through the integration of ECARX's Cloudpeak software stack [2] - Key features of the Lynk & Co 10 EM-P include AI agents, 3D Surround Reality, Sentry Mode, and multi-brand phone-to-cockpit connectivity, enhancing user experience and vehicle intelligence [2] Leadership Commentary - Ziyu Shen, Chairman and CEO of ECARX, emphasized the significance of the Pikes computing platform in the mass production of the Lynk & Co 10 EM-P, highlighting the company's role in advancing vehicle intelligence and the shift towards fully intelligent mobility [3]

Group 1 - Volvo launched the new XC70 in China on August 27, which features the latest intelligent cockpit solution from ECX, a company under the Geely system [2] - ECX has been enhancing its "hardware-software integration" capabilities, with the Antora® 1000 Pro computing platform and the Cloud Mountain cross-domain software platform being key to penetrating the high-end market [2] - The collaboration model between ECX and Volvo signifies a shift from traditional parts supply to joint development between automotive and technology companies, marking a significant milestone for ECX in the luxury brand ecosystem [2] Group 2 - In the capital market, the narrative of intelligence has become a crucial component of automotive company valuations, and ECX's ability to leverage full-stack technology and luxury brand endorsement will determine its growth potential [3] - The XC70 represents just the beginning for ECX, with the real challenge being its ability to prove its irreplaceability in more high-end projects in the coming years [3]

Core Insights - ECARX announced that its Antora® 1000 Pro computing platform and Cloudpeak® software stack will be used in the intelligent cockpit of the new Volvo XC70 hybrid SUV, which began pre-sales on August 27, 2025 [1][4] - The collaboration between ECARX and Volvo focused on various aspects of the XC70's design and development, including hardware, system architecture, and user experience enhancements through AI-powered features [2][4] - The XC70 features a minimalist design aimed at providing a more intuitive user experience, setting it apart from more complex interfaces in premium vehicles [3] Company Overview - ECARX is a global automotive technology provider that offers comprehensive solutions for next-generation smart vehicles, including system on a chip (SoC) and central computing platforms [5] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,600 employees across 13 locations worldwide and collaborates with major automotive brands, including Volkswagen Group and FAW Group [6] - ECARX's products are currently integrated into over 9.3 million vehicles globally, showcasing its significant market presence [6]

Core Insights - ECARX has achieved Automotive SPICE (ASPICE) v4.0 Capability Level 3 (CL3) certification, the highest rating under the ASPICE standard, enhancing its portfolio of certifications necessary for collaboration with leading automakers [1] - The company has established a scalable, compliant software-development backbone through various certifications, including ASPICE v3.1 CL2, CMMI CL3, and ASPICE v3.1 CL3, which strengthens its competitive positioning in the global market [2] - ECARX is committed to developing products in compliance with ISO26262 and ISO21434 standards for functional safety and cybersecurity, further enhancing its competitive edge [2] Company Overview - ECARX is a global automotive technology provider that delivers turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [4] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,600 employees across 13 major locations worldwide, including China, the UK, the USA, Singapore, Malaysia, Sweden, and Germany [5] - The company collaborates with notable automakers such as Volkswagen Group, FAW Group, and Dongfeng Peugeot-Citroën, with its products present in over 9.3 million vehicles globally [5] Leadership Perspective - Ziyu Shen, Chairman and CEO of ECARX, emphasized that achieving ASPICE v4.0 CL3 certification reflects the company's focus on R&D capability, quality control, and process maturity, supporting large-scale global mandates like the project with Volkswagen Group [3]

Core Viewpoint - ECX Technology reported a total revenue of $156 million for Q2 2025, with management expressing confidence in achieving EBITDA breakeven in subsequent quarters and a nearly 20% revenue growth for the full year 2025 [1] Group 1: Financial Performance - The company achieved total revenue of $156 million in Q2 2025 [1] - Management anticipates reaching EBITDA breakeven in the upcoming quarters and for the full year 2025 [1] - The company is targeting nearly 20% revenue growth for the entire year 2025 [1] Group 2: Business Growth and Product Performance - The company demonstrated strong growth resilience, with product shipments reaching 532,000 units [1] - The Antora® series, integrated with the 7nm automotive-grade SoC "Long Eagle No. 1," saw shipments of 135,000 units in Q2, marking a year-on-year increase of 112% [1] - As of June 30, 2025, the total number of vehicles equipped with ECX Technology exceeded 9.3 million, showcasing ongoing scalability [1] Group 3: Capacity and Market Expansion - The Fuyang factory's capacity utilization rate reached 80%, achieving the annual production target of 1 million units ahead of schedule [1] - The company secured multiple project designations in Q2, with overseas market projects valued at over $1 billion in total lifecycle value [1] - These new orders provide clear support for future revenue growth and reflect the global automotive brands' recognition of the company's technological capabilities [1]

Core Viewpoint - The automotive industry is undergoing a significant transformation towards electrification and intelligence, with key technology suppliers like ECX.US playing a crucial role in shaping industry trends and demonstrating their core value within the supply chain [1][3]. Financial Performance - In Q2 2025, ECX.US reported total revenue of $156 million, with management expressing confidence in achieving EBITDA breakeven and nearly 20% revenue growth for the full year [1]. - Operating expenses decreased by 20% year-over-year, reflecting the company's commitment to lean operations and cost efficiency [1]. Business Growth and Market Position - The company shipped 532,000 units in Q2, with the Antora® series achieving a 112% year-over-year increase in shipments [2]. - By the end of June 2025, the total number of vehicles equipped with ECX.US technology exceeded 9.3 million, showcasing the ongoing scale effect [2]. - The company secured multiple project contracts, including overseas projects valued at over $1 billion, indicating strong international market expansion and recognition of its technological capabilities [2]. Industry Trends - The global automotive industry is experiencing a dual trend of electrification and intelligence, with new energy vehicle sales reaching 4.868 million units in Q2 2025, a 30% year-over-year increase [3]. - The competition in the new energy vehicle market is shifting from merely replacing traditional fuel vehicles to defining product strength through intelligence, emphasizing the need for integrated hardware and software solutions [3][4]. Globalization Strategy - ECX.US is actively pursuing a dual globalization strategy, both following Chinese automakers abroad and directly entering high-end global markets [7][8]. - The company plans to establish a global headquarters in Singapore in the second half of 2025, enhancing its international business capabilities and compliance [8]. Technological Innovation - ECX.US is focused on upgrading its technology to support the automotive industry's shift towards intelligence, with significant advancements in smart cockpit solutions [9][10]. - The company has developed a 5-in-1 solution based on its Antora 1000 platform, which can reduce vehicle development cycles by over 30% [12]. - In addition to automotive applications, ECX.US is expanding its solid-state laser radar technology into the robotics sector, tapping into a growing market projected to exceed $50 billion by 2025 [13]. Summary - ECX.US's Q2 2025 progress aligns with long-term industry trends of smart upgrades, global expansion, and cross-industry collaboration, positioning the company for sustained growth and increased market share [14].

Financial Data and Key Metrics Changes - Total revenue for Q2 was $156 million, with sales of goods revenue at $131 million, reflecting a 1% year-over-year increase driven by double-digit customer demand despite strategic price reductions [25][27] - Gross profit declined to $70 million, a 58% decrease year-over-year, resulting in a gross margin of 11%, down 12% from the previous year [26][27] - Operating expenses were reduced by 20% year-over-year to $57 million, contributing to a slight decline in adjusted EBITDA loss to $30 million compared to $29 million in the same period last year [27][28] Business Line Data and Key Metrics Changes - The Antora, VANELO, and Skyland platforms contributed 56% to total sales of goods revenue, more than doubling from 28% in the prior year [26] - Software license revenue decreased by 85% year-over-year to $1.2 million, primarily due to a decline in per vehicle software license revenue [26] - Service revenue was $23 million, down 34% year-over-year, mainly due to lower revenue from non-recurring engineering services contracts [26] Market Data and Key Metrics Changes - Shipments of the Antora series solution surged 112% year-over-year to 135,000 units during the quarter, indicating strong market demand [7] - The company serves 18 OEMs across 28 brands globally, with significant contributions from Geely, which accounted for nearly 40% to 50% of total business [12][58] - In the EU market, the company has 14 active projects with eight different global automakers and has secured four wins to date [18] Company Strategy and Development Direction - The company aims to achieve EBITDA breakeven in each of the remaining quarters of 2025, supported by operational discipline and a growing pipeline of projects [5][28] - A new global headquarters in Singapore is set to open in 2025, enhancing global IP management, R&D collaboration, and supply chain optimizations [10][23] - The company is diversifying its technological reach beyond automotive, with partnerships in robotics and AI applications, indicating a strategic shift towards multi-industry applications [9][14] Management Comments on Operating Environment and Future Outlook - Management acknowledged seasonal headwinds but emphasized solid progress in securing new projects and expanding partnerships [5][10] - The company expects full-year revenue to recover strongly and grow by close to 20% year-over-year, driven by volume growth and improved product mix [28] - Management expressed confidence in achieving adjusted EBITDA breakeven in each of the remaining quarters of 2025, despite external challenges [28][29] Other Important Information - The company received three ISO certifications for quality management, environmental stewardship, and occupational health and safety, which are prerequisites for collaboration with leading automakers [23] - The Fujian plant operates at 80% utilization, achieving its 1,000,000 unit annual capacity ahead of schedule, which is critical for global scaling [21] Q&A Session Summary Question: Non-automotive business layout and future development - Management expressed optimism about the potential for non-automotive applications, particularly in robotics, leveraging LiDAR technology [34][35] Question: Progress in overseas expansion - The company has secured multiple international clients, including Volkswagen, and is actively pursuing additional opportunities in global markets [36][37] Question: Update on in-house chip development - Management confirmed ongoing development of the Antora platform and plans to launch the Qualcomm A295 product, indicating a robust roadmap for internal capabilities [38][40] Question: Volume guidance for the second half of the year - The company anticipates shipping between 1,400,000 to 1,500,000 vehicles in the second half, aiming for a total of 2,500,000 to 2,600,000 vehicles for the year, reflecting a 30% year-over-year growth [44][45] Question: Pricing strategy and market competition - Management acknowledged pricing pressures but emphasized ongoing cost optimization efforts and a focus on maintaining market share to support revenue growth [46][48] Question: Update on ADCU business and collaboration with Qualcomm - The company is exploring opportunities with Qualcomm's SoCs and plans to launch a Fusion platform in 2026, indicating a strategic focus on advanced automotive technologies [52][53] Question: Growth drivers for the second half and next year - Management highlighted the importance of diversifying the customer base and expanding partnerships, with a healthy mix of business from both domestic and international OEMs [56][60]