Financial Data and Key Metrics Changes - Revenue for Q4 2024 was RMB1.9 billion, an increase of 4% year-over-year and 36% sequentially [29] - Full year total revenue reached RMB5.6 billion, up 18% year-over-year; gross profit was RMB1.2 billion, down 9% year-over-year, with gross margins at 20.8% [34] - The company achieved breakeven at the EBITDA level during Q4 2024, with adjusted EBITDA gains of RMB74 million, a significant improvement from a loss of RMB236 million in the same period last year [33][34] Business Line Data and Key Metrics Changes - Sales of goods revenue for Q4 2024 was RMB1.5 billion, up 16% year-over-year, driven by demand for computing platforms like Antora and Makalu, which accounted for approximately 29% of sales of goods revenue [29] - Software license revenue was RMB90 million, a decrease of 3% year-over-year, while service revenue was RMB326 million, down 31% year-over-year but up 102% sequentially [30] Market Data and Key Metrics Changes - Global vehicle sales grew by approximately 2% in 2024 to 91 million, with China’s passenger vehicle sales increasing 6% to 28 million, primarily driven by NEVs [8] - ECARX technology was incorporated in over 8.1 million vehicles on the road by the end of 2024, with total shipments reaching a record high of 2 million, up 33% year-over-year [11] Company Strategy and Development Direction - The company aims to strengthen its position as a leading provider of intelligent solutions for automakers, focusing on software-defined vehicles and expanding its portfolio of cost-effective solutions [7] - A USD 20 million share repurchase program was announced, reflecting confidence in future growth prospects [15] - The company plans to further improve operational efficiency and product costs, focusing on procurement, supply chain, and manufacturing strategies [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving positive EBITDA for the full year 2025, emphasizing the importance of cash flow and financial health for global expansion [53] - The company is aware of pricing pressures in the industry but is focused on optimizing costs and improving operational efficiency to maintain margins [32][60] Other Important Information - The company secured a new project with Volkswagen Group, expanding its global customer base to 18 automakers across 28 brands [12] - The company has a robust intellectual property portfolio with 692 registered patents and 723 patent pending applications globally as of December 31, 2024 [24] Q&A Session Summary Question: Could you share the company's global production capacity layout and how you expect to pace the implementation of global orders in the coming years - The company ramped up manufacturing capabilities in China and plans to use contract manufacturing partners globally to expand production capacity [44] Question: What's your current plan for ADAS or AD products, which clients are you working with - The company is investing in the Skyline Pro product and working with various clients, including Geely, to enhance its ADAS offerings [45][46] Question: Can the management share some color or guidance for revenue, gross margin, and also the breakeven point of 2025 - The main priority for 2025 is achieving breakeven, with revenue growth being secondary [52][53] Question: Can you provide a revenue breakdown by clients for '24, and maybe share your outlook for your current mix for the next 5 years to 10 years - In 2024, nearly 80% of revenue came from Geely and related businesses, with plans to diversify further in the coming years [83] Question: Do we see any impact on our business with Lincoln Co, given their merger into Zeker - The company does not expect significant impact and continues to maintain a strong partnership with Lincoln Co [86] Question: Is the Galaxy E8 using our Pikes computing platform - The Galaxy E8 uses the Flyme Auto software, but the hardware is from another supplier; however, the company provided the Skyline ADAS system for the vehicle [88]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was RMB1.9 billion, up 4% year-over-year and 36% sequentially [29] - Full year revenue reached RMB5.6 billion, an 18% increase year-over-year [34] - Gross margin for Q4 was 21.2%, while the full year gross margin was 20.8% [31][34] - Adjusted EBITDA for Q4 was RMB74 million, a significant improvement from a loss of RMB236 million in the same period last year [33] Business Line Data and Key Metrics Changes - Sales of goods revenue for Q4 was RMB1.5 billion, up 16% year-over-year, driven by demand for Antora and Makalu platforms [29] - Software license revenue decreased by 3% year-over-year to RMB90 million, while service revenue dropped 31% year-over-year to RMB326 million [30] - Total shipments reached 2 million units for the year, a 33% increase year-over-year [11] Market Data and Key Metrics Changes - Global vehicle sales grew by approximately 2% in 2024 to 91 million, with China’s passenger vehicle sales increasing by 6% to 28 million [8] - NEV sales in China surged to 30 million, up 36%, accounting for over 40% of total sales [8] Company Strategy and Development Direction - The company aims to achieve positive EBITDA for the full year 2025, focusing on breakeven as a top priority [52][53] - Plans to expand global customer base and deepen relationships with existing customers, including a new project with Volkswagen [12][16] - Emphasis on technological innovation and diversifying the customer base globally [28] Management's Comments on Operating Environment and Future Outlook - Management noted the automotive market is growing slowly but remains competitive, highlighting the importance of differentiation [7][9] - The company is optimistic about future growth prospects, particularly in the software-defined vehicle segment [14] - Management acknowledged challenges in maintaining margins due to industry-wide pricing pressures but plans to optimize costs [32][60] Other Important Information - The company has a robust intellectual property portfolio with 692 registered patents and 723 pending applications [24] - A USD 20 million share repurchase program was announced, reflecting management's confidence in future growth [15] Q&A Session Summary Question: Global production capacity layout and implementation of global orders - Management discussed ramping up manufacturing capabilities in China and plans to use contract manufacturing partners for global expansion [42][44] Question: Current plan for ADAS products and growth opportunities with Geely - Management highlighted ongoing investments in ADAS and the importance of the Skyline Pro product in their roadmap [45][55] Question: Guidance for 2025 regarding revenue and gross margin - Management emphasized breakeven as the main priority for 2025, with revenue growth as a secondary focus [52][53] Question: Revenue breakdown by clients and outlook for Geely's supply chain consolidation - Management indicated that approximately 80% of revenue in 2024 came from Geely, with plans to diversify further [83] Question: Impact of Lincoln Co merger into Zeker and Galaxy E8's computing platform - Management stated that there would be minimal impact on business with Lincoln Co and clarified that Galaxy E8 uses a different hardware supplier but incorporates their ADAS system [87][88]

Core Viewpoint - ECARX Holdings Inc. reported strong financial performance for 2024, with an 18% year-over-year revenue increase and a narrowing operating loss, achieving breakeven at the EBITDA level in Q4 2024, indicating positive momentum for future growth [2][3]. Financial Performance - **Fourth Quarter 2024 Results**: Total revenue was RMB 1,940.7 million (US$ 265.9 million), up 4% year-over-year. Sales of goods revenue increased by 16% to RMB 1,524.9 million (US$ 208.9 million), driven by a RMB 540 million rise in automotive computing platform product sales [3][21]. - **Full Year 2024 Results**: Total revenue reached RMB 5,561.3 million (US$ 761.9 million), an 18% increase from RMB 4,699.6 million in 2023. Sales of goods revenue rose 33% to RMB 4,405.5 million (US$ 603.6 million) [4][21]. - **Gross Profit and Margin**: Gross profit for Q4 2024 was RMB 410.9 million (US$ 56.4 million), with a gross margin of 21%. For the full year, gross profit was RMB 1,154.2 million (US$ 158.1 million), also with a gross margin of 21%, down from 27% in 2023 [3][21]. - **Net Loss**: The net loss for Q4 2024 was RMB 39.5 million (US$ 5.3 million), significantly reduced from RMB 326.7 million in the same period last year. The full-year net loss was RMB 989.9 million (US$ 135.6 million), a 3% decrease from RMB 1,015.6 million in 2023 [3][21]. Business Highlights - **Record Shipments**: Total shipments reached a record high of 2 million units in 2024, a 33% increase from the previous year, with over 700 thousand units shipped in Q4 alone [2][6]. - **Global Customer Base Expansion**: The company expanded its global customer base to 18 automakers across 28 brands, including a recent partnership with Volkswagen Group [2][6]. - **Technological Advancements**: ECARX integrated DeepSeek into its AutoGPT in-vehicle AI large language model, enhancing the in-vehicle experience for automaker partners [2][6]. - **Strategic Initiatives**: The company announced a US$ 20 million share repurchase program and is exploring capital-raising opportunities to support strategic objectives [2][6]. Research and Development - **R&D Expenses**: Research and development expenses for Q4 2024 were RMB 342.1 million (US$ 46.9 million), down 28% year-over-year, reflecting improved efficiencies [3][21]. - **Product Innovations**: New product launches included the Galaxy EX5, the first overseas model integrating the Antora 1000 computing platform, and the Skyland Pro ADAS solution integrated into Geely's G-Pilot system [6][11]. Market Position - **Industry Context**: ECARX is positioned as a global mobility tech provider, focusing on delivering innovative solutions for next-generation smart vehicles, capitalizing on the growing demand for software-defined vehicles [9][10].

Core Insights - ECARX Holdings Inc. announced the integration of its Skyland® Pro intelligent driving solution into Geely's G-Pilot system, which will be featured in all future vehicles under Geely's Galaxy brand, including the newly launched Galaxy E8 sedan [1] - Skyland® Pro addresses the demand for high-performance, cost-effective intelligent driving solutions, enabling faster market entry for automakers and offering features like automated parking assistance and highway autopilot [2] - The Skyland® Pro platform is positioned to meet the growing demand for advanced driver-assistance systems (ADAS) and vehicle intelligence, contributing to long-term growth and innovation in the automotive sector [3] Company Overview - ECARX is a global automotive technology provider that delivers comprehensive 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 employs over 1,800 people across 12 locations worldwide and collaborates with major automakers, including Geely, FAW, and Dongfeng Peugeot-Citroën [5] - ECARX products are currently integrated into over 7.3 million vehicles globally, showcasing the company's extensive reach in the automotive market [5]

Company Overview - ECARX Holdings Inc. is a global mobility tech provider specializing in intelligent driving solutions, with its Skyland® Pro solution being integrated into Geely's G-Pilot system for future Galaxy brand vehicles [1][2] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,800 employees across 12 locations worldwide, including China, the UK, the USA, Sweden, Germany, and Malaysia [5] Product and Technology - The Skyland® Pro solution addresses the industry's need for high-performance, cost-effective intelligent driving technologies, facilitating quicker market entry for automakers [2] - Features of Skyland® Pro include automated parking assistance and highway autopilot, enhancing the driving experience [2] - The solution has already been implemented in vehicles like Lynk & Co 08 EM-P and Lynk & Co 07 EM-P, with over 160,000 units sold collectively [2] Strategic Partnerships - The collaboration with Geely on the G-Pilot system highlights ECARX's commitment to scalable and cost-effective intelligent driving solutions [3] - ECARX also partners with other notable automakers, including FAW and Dongfeng Peugeot-Citroën, expanding its market reach [5] Market Position and Growth Potential - The automotive industry is increasingly competitive, with a focus on Advanced Driver Assistance Systems (ADAS) and vehicle intelligence, positioning Skyland® Pro to capitalize on this demand [3] - ECARX aims to enhance user experience while reducing complexity and costs as automakers develop new electric vehicle architectures [4]

Core Insights - ECARX Holdings Inc. has been awarded by the Volkswagen Group to provide advanced digital cockpit solutions for vehicles under the Volkswagen and Skoda brands [1][2] - The partnership marks a significant step for ECARX as it collaborates with a leading global automaker to enhance intelligent automotive technology [5] Company Overview - ECARX is a global mobility technology provider specializing in delivering turnkey 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 1,800 people across 12 major locations worldwide and has products in over 7.3 million vehicles [6] Product Details - The ECARX Antora 1000 computing platform is a fourth-generation digital cockpit solution based on a 7nm high-performance SE1000 System-on-Chip (SoC) [3] - ECARX Cloudpeak is a flexible software architecture that integrates services such as Google Maps, Google Assistant, and mobile integrations like Android Auto and Apple CarPlay [3][4] Market Strategy - Initial vehicle launches featuring the new digital cockpit solutions are planned in Brazil and India, with potential for further market expansion [2] - The collaboration with Volkswagen Group aims to deliver a high-quality user experience while reducing complexity and cost in the automotive sector [5]

Core Insights - ECARX Holdings Inc. announced upgrades to its AutoGPT in-vehicle AI application through the integration of GigaAI's DriveDreamer World Model, enhancing autonomous driving capabilities and intelligent cockpit experiences [1][4] Company Overview - ECARX is a global automotive technology provider, offering solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [4][5] - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,800 people across 12 locations worldwide [5] Technological Advancements - The integration of DriveDreamer expands virtual simulation capabilities, generating diverse driving scenarios and reducing reliance on physical road testing, thus improving training efficiency [2] - DriveDreamer automates scenario-specific data generation, enhancing algorithm iteration speed and reducing development cycle time [2] Intelligent Cockpit Experience - The upgraded AutoGPT can analyze multiple sensory inputs to proactively adjust vehicle settings, providing a hyper-personalized intelligent cockpit experience for drivers [3] - This capability allows automakers to differentiate themselves in a competitive market by offering unique driving experiences [4]

Core Insights - ECARX Holdings Inc. announced that its automotive solutions helped Geely Automobile achieve record sales of 266,737 vehicles in January 2025, building on a strong 2024 where Geely sold 2.17 million vehicles [1][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 1,800 employees across 12 locations globally [6] Strategic Partnerships - The collaboration with Geely demonstrates how ECARX's solutions enhance vehicle intelligence and user experience, contributing to sales growth and competitive advantage for automakers [3][4] - ECARX's global ecosystem of strategic partnerships is central to its strategy to reshape the automotive technology value chain [3] Product Offerings - Key solutions include the Antora Series Computing Platform, Makalu Computing Platform, and Venado Computing Platform, which power various Geely models [8]

Core Points - ECARX Holdings Inc. will report its financial results for Q4 and full year 2024 on March 11, 2025, before U.S. market opens [1] - An earnings conference call will be held on the same day at 8:00 a.m. U.S. ET, with a live audio webcast available [2] - Audio replay and presentation materials will be accessible on the company's investor relations website after the event [3] Company Overview - ECARX is a global automotive technology provider specializing in turnkey solutions for next-generation smart vehicles, including system on a chip (SoC) and central computing platforms [4] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,800 employees across 12 major locations worldwide [5] - The company is co-founded by Ziyu Shen and Eric Li, with products present in over 7.3 million vehicles globally [5]

Core Insights - ECARX Holdings Inc. has launched its first intelligent cockpit in the Hongqi Tiangong 05 all-electric sedan, marking a significant milestone in its partnership with FAW Group [1][2] - The intelligent cockpit is powered by ECARX's Antora 1000 Pro computing platform and features a customized Hongqi FAW OS, integrating advanced AI capabilities [2][3] - The collaboration aims to create a scalable and cost-effective solution for future Hongqi models, enhancing the user experience while reducing complexity [2][4] Company Overview - ECARX is a global automotive technology provider specializing in full-stack solutions for next-generation smart vehicles, including system on a chip (SoC) and central computing platforms [4] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,800 employees across 12 locations worldwide [5] - The company has partnerships with various automakers, including FAW and Dongfeng Peugeot-Citroën, and its products are present in over 7.3 million vehicles globally [5]