Core Viewpoint - ECARX has unveiled its first 32-bit RISC-V ISA-based processor design, EXP01, which features a dual-core safety architecture that has achieved the highest level of functional safety certification ISO 26262 ASIL-D, enhancing reliability for critical automotive functions [2][3] Group 1: Product Announcement - ECARX introduced the EXP01 processor at the 2025 European RISC-V Summit, marking a significant technological breakthrough for the company [1] - The EXP01 processor is designed with a dual-core safety architecture that continuously verifies the operation of both cores, ensuring high reliability for advanced driver assistance and smart cockpit interfaces [2] Group 2: Future Development Plans - ECARX outlined its roadmap for the next generation of automotive-grade microcontrollers (MCUs), which will be scalable and designed for smart cockpit and body domain control applications, compliant with ISO 26262 ASIL-B safety standards [2] - The upcoming MCUs will support current and future encryption protocols, ensuring compliance with international data regulations [2] Group 3: Strategic Collaborations - During the event, ECARX's R&D director engaged in technical discussions with leading RISC-V developers, including StarFive Technology, laying the groundwork for joint R&D initiatives aimed at accelerating the integration of RISC-V-based computing platforms with next-generation automotive architectures [2] Group 4: Company Vision - The CEO of ECARX emphasized that the launch of EXP01 is a critical step towards providing a high-reliability open architecture computing platform for the automotive industry, aiming to enhance performance and safety through a global partner ecosystem [3] - The open architecture of RISC-V is seen as a means to accelerate innovation and optimize costs, aligning with the company's goal to help automotive manufacturers lead technological advancements [3]

Core Insights - ECARX Holdings Inc. has launched its EXP01 processor based on the RISC-V architecture, marking a significant advancement in mobility technology [1][3] - The company is committed to enhancing RISC-V adoption in intelligent mobility solutions and has outlined a roadmap for next-generation automotive-grade microcontrollers (MCUs) [1][4] Company Developments - The EXP01 processor features a dual-core safety architecture that meets the highest functional safety certification, ISO 26262 ASIL-D, ensuring reliable performance for critical automotive functions [3] - ECARX's next-generation MCU is designed for intelligent cockpit and body-domain control applications, developed to meet ISO 26262 ASIL-B safety standards [4] - The company is engaging in technical workshops with leading RISC-V developers to foster joint research and development initiatives [5] Industry Context - RISC-V is an open-source instruction-set architecture that allows for customized processor designs, promoting faster innovation and lower power consumption in automotive applications [2] - The open architecture of RISC-V aligns with ECARX's goal to provide cost-effective solutions for automakers, enhancing their technological capabilities [6] - ECARX is positioned to lead the intelligent mobility revolution by leveraging its partnerships and RISC-V technology [6] Company Background - Founded in 2017 and listed on Nasdaq in 2022, ECARX has approximately 1,800 employees across 12 locations globally [8] - The company collaborates with major automakers, including Volkswagen Group and FAW Group, and its products are integrated into over 8.7 million vehicles worldwide [8]

Group 1 - The core viewpoint of the news highlights a positive market reaction driven by favorable developments in US-China trade negotiations, with major US stock indices showing significant gains [1][2] - The Dow Jones Industrial Average rose by 2.44%, the Nasdaq Composite increased by 3.55%, and the S&P 500 climbed by 2.63% as of the specified time [1] - Major technology stocks experienced substantial increases, with Apple rising over 6%, Amazon up more than 7%, and Meta gaining over 5% [2] Group 2 - The Nasdaq China Golden Dragon Index surged over 5%, reflecting a strong performance among popular Chinese concept stocks [2][3] - Notable stock movements included Jia Yuda, which saw a peak increase of over 130% during trading, ultimately closing up 65.64% [2][3] - Other significant gainers in the Chinese stock market included Century Internet, which rose over 18%, and several other companies like Pinduoduo and Xpeng Motors, which saw increases exceeding 7% [4] Group 3 - The spot price of gold continued to decline, trading around $3240 per ounce, with a drop of 2.58% noted [4] - The price of gold fell below $3210 per ounce for the first time since April 14, indicating a notable downward trend [4] - Domestic gold jewelry prices also decreased, with several brands' prices falling back to around 1000 yuan [6][7]

Company Developments - Bawang Chaji opened its first store in the United States in Los Angeles, with former McDonald's CMO Eugene Lee joining as the Vice President and Chief Marketing Officer for the Asia-Pacific region [3] - Stone Technology reported a revenue of 3.428 billion yuan in Q1 2025, a year-on-year increase of 86.22%, driven by an expanded product matrix and optimized sales structure [4] - Midea Group's overseas OBM business grew by 40% year-on-year, with e-commerce sales increasing by over 50% in Q1 2025 [5] - Didi launched its overseas car rental service in 11 countries and 26 cities to cater to domestic users traveling abroad [6] - Tianlala plans to open over 200 new stores globally by 2025, focusing on Southeast Asia, Europe, North America, and the Middle East [7] - Anker Innovations reported a revenue of 24.71 billion yuan for 2024, a 41.14% increase year-on-year, with Q1 2025 revenue reaching 5.993 billion yuan, up 36.91% [8] - Uber partnered with Momenta to deploy autonomous taxis in Europe by early 2026 [8] - COSCO Shipping established a new company in Saudi Arabia to enhance its operations in the region [8] - Yizhibo plans to expand its consumer content and marketing services overseas, aiming to establish a presence in five countries by the end of the year [8] - JA Solar expects to rapidly increase production capacity after launching a project in Oman [8] - Zeekr Technology Group has entered over 60 international markets, with more than 1,200 global stores [8] - Deep Blue aims for overseas sales to account for 20% of its total sales by 2025 [8] - Cainiao's order volume in the North American market increased by over 30% [11] Macro Policies & Industry Data - The U.S. officially terminated its tax exemption policy for small packages from China, leading to increased logistics costs and delays for e-commerce platforms [12] - The trade volume between China and Arab countries exceeded $400 billion in 2024, marking a tenfold increase since 2004 [12] - In Q1 2025, China's software business exports reached $13.1 billion, a year-on-year increase of 2.4% [13] - The Export-Import Bank of China issued over 300 billion yuan in loans to support foreign trade in Q1 2025 [14] - Mexico is expanding its largest port to strengthen trade ties with China [14] Investment & Financing - In Time Robotics completed nearly 100 million yuan in B3 round financing to accelerate global market expansion [15] - IndustrialNext raised several million dollars in Series A funding to enhance team size and R&D efforts [15] - Aihua New Materials secured several million yuan in A round financing to focus on product development and overseas market expansion [15] - Guopei Chuang (Suzhou) Education Technology completed a million yuan Pre-A round financing to support AI technology development and overseas market expansion [16] - Clickmate, a live-streaming e-commerce platform in South Korea, announced seed round financing, with a monthly transaction volume of 9 billion KRW [17]

Core Insights - ECX reported a revenue of 1.22 billion RMB (approximately 170 million USD) for Q1 2025, marking a 30% year-over-year increase [1] - The company achieved a gross profit of 240 million RMB (approximately 33.5 million USD), with a stable gross margin of 20% [1] - ECX's shipment volume surged by 81% year-over-year, reaching 684,000 units, with over 8.7 million vehicles equipped with its technology globally [1] Business Structure - The collaboration with Geely Galaxy has significantly contributed to the growth in shipment volume, with Geely Galaxy's sales increasing by over 290% in March [2] - ECX secured new project orders for eight new Geely models, enhancing its position as a provider of intelligent solutions within the Geely Group [2] - The launch of the Antora® 1000SPB central computing platform and the development of high-level intelligent driving solutions based on NVIDIA DRIVE AGX platform are key innovations driving growth [2] International Expansion - ECX is preparing to establish a global supply chain and R&D center in Singapore to strengthen its delivery capabilities in Southeast Asia and international markets [3] - A strategic partnership with HERE Technologies aims to develop a next-generation global vehicle navigation system, enhancing localized adaptation for global OEM clients [3] - The company is focused on optimizing product cost structures and improving operational efficiency to support growth in the smart automotive sector [3] Long-term Strategy - The management anticipates continued growth in demand for intelligent cockpits and advanced driver assistance systems from global OEMs [3] - The integration of generative AI in vehicle human-machine interaction and software platform development is expected to bolster future business growth [3] - ECX aims to enhance the modularity and compatibility of its hardware and software platforms to accelerate adaptation processes for mainstream overseas automakers [3] Global Operations - Over the past eight years, ECX has established 12 global operation centers in countries including China, the UK, the US, Germany, Sweden, and Malaysia [4] - The company serves a diverse range of clients, including major automotive manufacturers such as Volkswagen, Volvo, Geely, Polestar, Hongqi, Dongfeng, and Changan [4] - ECX is focused on building core capabilities in key technology areas such as chip modules, intelligent cockpits, central computing, AI models, and software platforms to enhance its technological pricing power and platform leadership [4]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 reached RMB 1.2 billion, a 30% increase year over year [20] - Sales of goods revenue was RMB 879 million, up 16% year over year [20] - Gross profit for the quarter was RMB 243 million, up 19% year over year, resulting in a gross margin of 19.8% [21][22] - Adjusted EBITDA loss improved significantly compared to a loss of RMB 224 million during the same period last year [22] Business Line Data and Key Metrics Changes - In-house developed platforms contributed approximately 39% to total sales of goods revenue, reinforcing the in-house development strategy [20] - Software license revenue surged 148% year over year, driven by increased demand and a one-time software license contract [21] - Service revenue increased by 49% year over year, primarily due to design and development contracts and growth in overseas cloud services [21] Market Data and Key Metrics Changes - Global vehicle sales fell 5.6% year over year, while the China market grew 12.9% year over year [6] - Shipments surged to 684,000 units, a 35.8% increase year over year [7] - The company serves 18 OEMs across 28 brands globally, indicating a growing scale and trust from global automakers [10] Company Strategy and Development Direction - The company aims to capitalize on the growing demand from global automakers for unique driving experiences and intelligent solutions [6] - A significant milestone was achieved with the successful integration of intelligent driving and parking capabilities into the Antora platform [16] - Plans to establish a global supply chain center and international engineering center in Singapore to enhance global operations [18][54] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing opportunities as the automotive industry transforms towards software-defined intelligent vehicles [19] - The company remains focused on expanding its customer base and improving operational efficiency to enhance financial performance [23] - Management highlighted a robust pipeline of new projects and ongoing global expansion [9][19] Other Important Information - The company hosted an Investor Day in Hong Kong, showcasing its positive outlook for 2025 and ongoing technological innovations [8] - The company has expanded its intellectual property portfolio to 705 registered patents and 778 pending applications as of March 31, 2025 [17] Q&A Session Summary Question: Update on Skyline's recent orders and profitability - Management reported good orders for Skyline in Q1, with fair market gross margins and confidence in maintaining goals for the product line [28][30] Question: Additional pressure for annual cost down - Management indicated that they are competitive in the China market and have achieved yearly cost reductions from OEM customers [30] Question: Involvement in the Cheney Hong Han H3 program - Management confirmed close partnership with GD and mentioned ongoing developments in the ADAS roadmap [32] Question: New business announcements within automakers - Management highlighted the partnership with Volkswagen Group and ongoing strong performance from GD's product lines [36] Question: Impact of US tariffs on supply - Management acknowledged significant challenges from US tariffs but emphasized their contract manufacturing model mitigates these impacts [41][72] Question: Outlook for partnerships with international OEMs - Management noted strong interest from global automakers and ongoing discussions, particularly following the Shanghai Auto Show [50] Question: Establishment of supply chain and engineering center in Singapore - Management elaborated on the strategic importance of the Singapore center for global supply chain activities and IP management [53][54] Question: Integration of driving and cabin features - Management confirmed the Antora platform's capabilities for integrating smart cabin and ADAS features, with ongoing customer interest [60][62] Question: Sustainable demand for Geely Galaxy - Management expressed optimism about sustained demand for Geely Galaxy models, supported by strong market performance [59]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 reached RMB 1.2 billion, a 30% increase year over year [19] - Sales of goods revenue was RMB 879 million, up 16% year over year [19] - Gross profit for the quarter was RMB 243 million, up 19% year over year, resulting in a gross margin of 19.8% [20][21] - Adjusted EBITDA loss improved significantly compared to a loss of RMB 224 million during the same period last year [21][22] Business Line Data and Key Metrics Changes - Shipments surged to 684,000 units, a 35.8% increase year over year [6][10] - Software license revenue increased by 148% year over year, driven by higher demand and a one-time contract [20] - Service revenue rose to RMB 157 million, up 49% year over year, primarily due to design and development contracts [20] Market Data and Key Metrics Changes - Global vehicle sales fell by 5.6% year over year, while the China market grew by 12.9% year over year [5] - The company serves 18 OEMs across 28 brands globally, indicating a growing scale and trust from global automakers [10] Company Strategy and Development Direction - The company aims to capitalize on the growing demand for intelligent solutions in the automotive industry, focusing on innovative product offerings and strategic global partnerships [4][5] - Plans to establish a global supply chain center and engineering center in Singapore to enhance international operations and support global customers [17][53] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing opportunities as the automotive industry transitions to software-defined intelligent vehicles [18] - The company highlighted a robust pipeline of new projects and ongoing global expansion, with a positive outlook for 2025 [9][18] Other Important Information - The company achieved a significant milestone with the successful integration of intelligent driving and parking capabilities into its Antora platform [15] - The company has expanded its intellectual property portfolio to 705 registered patents and 778 pending applications as of March 31, 2025 [16] Q&A Session Summary Question: Update on Skyline's recent orders and profitability - Management reported good orders for Skyline in Q1, with fair market gross margins and confidence in maintaining goals for the product line [30] Question: Additional pressure for annual cost down - Management indicated that they are competitive in the China market and have achieved yearly cost reductions from OEM customers [31] Question: Involvement in the Cheney Hong Han H3 program - Management stated they are close partners with GD and are engaged in the ADAS roadmap, but did not provide specific details on the H3 program [32] Question: New business within automakers for SPV - Management confirmed a partnership with Volkswagen Group and highlighted strong performance from GD's product lines [37] Question: Impact of US tariffs on supply and chip supply - Management acknowledged significant challenges from US tariffs but noted that they use contract manufacturing, which mitigates the impact [41][70] Question: Outlook for partnerships with international OEMs - Management sees strong interest from global automakers and highlighted ongoing collaborations, particularly with Volkswagen for launches in Brazil and India [49][50] Question: Establishment of supply chain and engineering center in Singapore - Management elaborated on plans for the Singapore center to enhance global supply chain activities and support international markets [53][54] Question: Integration of driving and cabin features - Management confirmed that the Antora platform is designed for integration of cockpit and ADAS features, with ongoing interest from customers [60] Question: Sustainable demand for Geely Galaxy - Management expressed optimism about sustained demand for Geely Galaxy models, supported by strong market performance [62]

Financial Highlights - Q1 2025 revenue reached $168.5 million, a 30% year-over-year increase[13] - Q1 2025 gross profit was $33.5 million, resulting in a gross margin of 20%[15] - Adjusted EBITDA for Q1 2025 was a loss of $14.4 million[98] - Net loss for Q1 2025 was $27 million[98] Operational Overview - ECARX serves 18 OEMs across 28 vehicle brands as of March 31, 2025[15] - ECARX has a major presence across three continents, including R&D centers and operation centers[18, 19, 20, 21] - ECARX's Cloudpeak software solution offers a flexible and open SOA architecture for customizable cross-domain software development[34] Product Launches - FAW Hongqi has established a pioneering position in the industry empowered by ECARX's comprehensive software & hardware ecosystem[54] - ECARX Skyland Pro ADAS Solution is now integrated into Geely's G-Pilot system, launched with Galaxy E8 and Xingyao 8 EM[65]

Core Viewpoint - ECARX Holdings Inc. reported strong financial performance in Q1 2025, with a 30% year-over-year revenue growth and a significant narrowing of operating losses, indicating effective execution of its strategic vision in the automotive technology sector [2][3]. Financial Performance - Total revenue for Q1 2025 was RMB 1,222.4 million (US$ 168.5 million), representing a 30% increase year-over-year [3]. - Sales of goods revenue reached RMB 879.2 million (US$ 121.2 million), up 16% year-over-year, driven by increased sales volume of automotive computing platform products [3]. - Software license revenue surged by 148% year-over-year to RMB 186.6 million (US$ 25.7 million), primarily due to heightened demand for operating software licenses [3]. - Service revenue increased by 49% year-over-year to RMB 156.6 million (US$ 21.6 million), attributed to growth in design and development contracts [3]. - Gross profit was RMB 242.5 million (US$ 33.5 million), with a gross margin of 20%, down from 22% in the same period last year [3]. - Net loss for the quarter was RMB 196.9 million (US$ 27.0 million), a significant reduction from RMB 304.0 million in Q1 2024 [9][24]. Business Developments - Shipments of ECARX technology reached 684,000 units in Q1 2025, bringing the total to over 8.7 million vehicles on the road [2][9]. - The company secured 8 new project wins under Geely's foundational E/E architecture, enhancing its position in the automotive market [9]. - ECARX introduced the ECARXperience, an advanced generative in-vehicle HMI system powered by its proprietary AutoGPT AI model [9]. Technological Advancements - The integration of intelligent cockpit, driving, and parking capabilities into the Antora® 1000 SPB has been successfully completed, with road testing already passed [9]. - The company partnered with HERE Technologies to launch a next-generation in-vehicle navigation system for global automakers [9]. Global Expansion - Plans are underway to establish a global supply chain center and an international engineering center in Singapore [9]. - The company raised US$ 45 million through its first public offering since listing, aimed at accelerating global expansion [2].

Core Insights - ECARX and Qualcomm Technologies are enhancing their collaboration to develop innovative solutions for intelligent, software-defined vehicles (SDVs) [1][3][2] - The partnership aims to leverage ECARX's experience in hardware and software development, which has been applied in over 8.1 million vehicles globally, alongside Qualcomm's Snapdragon Cockpit Platform [1][5][2] - The collaboration focuses on accelerating the transition of automakers towards SDVs by integrating advanced technologies and fostering an open automotive intelligence ecosystem [3][2] 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][5] - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,900 employees across 12 locations worldwide, with significant partnerships with major automakers like Volkswagen Group and FAW [5][4] - Qualcomm Technologies is a leader in automotive technologies, providing advanced system-on-chips (SoCs) and driving technological transformation in the automotive sector [2][6]