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 ...

SHANGHAI, China, April 29, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings, Inc. (NASDAQ:ECX) ("ECARX"), a global mobility tech provider, today announced that it will report its financial results for the first quarter of 2024 before the U.S. market opens on Monday, May 20, 2024. Company management will hold an earnings conference call via live audio webcast to discuss the financial results and will be available to answer questions from analysts and institutional investors. Earnings Conference Call & Webcast Details ...

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 ...

Financial Performance - In 2022, ECARX reported total revenues of RMB 3,561.994 million, a decrease from RMB 2,779.063 million in 2021[44][46]. - The gross profit for 2022 was RMB 993.879 million, compared to RMB 817.063 million in 2021, indicating an increase in gross profit margin[44][46]. - Operating expenses in 2022 amounted to RMB 2,622.100 million, up from RMB 1,817.241 million in 2021, reflecting a significant increase in operational costs[44][46]. - The net loss for 2022 was RMB 1,607.146 million, compared to a net loss of RMB 1,176.758 million in 2021, indicating a worsening financial position[44][46]. - The company reported a comprehensive loss of RMB 1,999.080 million for 2022, compared to RMB 1,172.207 million in 2021, indicating increased financial challenges[44][46]. - The company incurred net losses of RMB1,176.8 million, RMB1,607.1 million, and RMB1,015.2 million (US$143.0 million) in 2021, 2022, and 2023, respectively, and has not been profitable since inception[92]. - Negative cash flows from operating activities were RMB907.3 million, RMB461.3 million, and RMB1,243.4 million (US$175.1 million) in 2021, 2022, and 2023, respectively[92]. Capital Structure and Funding - ECARX Holdings made advances totaling $478.5 million in 2021 and $50.9 million in 2022 to its subsidiaries, with additional loans provided in various amounts[32]. - In 2023, ECARX Technology Limited repaid $119.3 million to ECARX Holdings, while ECARX Holdings made advances of $115.0 million to ECARX Group Limited[32]. - Capital contributions from ECARX Technology Limited included $250.0 million to ECARX (Wuhan) Technology Co., Ltd. in 2021 and $60.0 million to ECARX (Hubei) Tech Co., Ltd. in 2023[33][35]. - The company reported a net cash provided by financing activities of RMB 657,767 thousand, including proceeds from the issuance of Series B Convertible Redeemable Preferred Shares of RMB 159,485 thousand[55]. - The company generated net cash from financing activities amounting to $2,122,792 thousand, primarily from the issuance of Convertible Redeemable Preferred Shares totaling $3,222,206 thousand[57]. Regulatory Environment - The company is subject to the Holding Foreign Companies Accountable Act, which could impact its ability to trade on U.S. exchanges if audit reports are not compliant[22]. - The PRC government has increased scrutiny over overseas listings, which may affect future capital raising efforts by ECARX Holdings[26]. - The PCAOB has not issued any new determinations regarding its ability to inspect registered public accounting firms in mainland China and Hong Kong since December 2022[22]. - The PRC government is increasing oversight on overseas offerings by China-based companies, with new regulations effective from March 31, 2023[190]. - Approval from the CSRC or other PRC government authorities may be required for business combinations and overseas listings, with uncertainty regarding the timing and possibility of obtaining such approvals[188]. Operational Challenges - The company faced significant challenges in a fast-developing industry, impacting its ability to predict future revenues and manage expenses effectively[71]. - The automotive intelligence industry is highly competitive, and the company may not be successful in maintaining its market position[63]. - Supply chain disruptions, particularly in semiconductor manufacturing, could materially affect production and profitability due to ongoing global chip shortages[79]. - The company cannot assure that its technologies will achieve market acceptance or that it can successfully commercialize its automotive intelligence technologies[74]. - The company faces risks associated with international operations, including political conditions, regulatory changes, and cultural differences, which may impact financial results[100]. Data Security and Compliance - The company has initiated a process to transfer personal data rights to Zhejiang Huanfu Technology Co., Ltd. to comply with tightened data security regulations[30]. - The company is subject to complex laws regarding cybersecurity and data protection, with potential breaches posing risks to its reputation and financial condition[123]. - The company has implemented advanced security measures to prevent data breaches, but these measures may still be vulnerable to evolving threats[125]. - The company incurs significant expenses to comply with privacy and data protection standards, which could increase due to changes in laws or regulations[133]. - The company completed the transfer of personal data processing rights to Zhejiang Huanfu Technology Co., Ltd. in December 2021, limiting its mainland China subsidiaries' access to personal data[129]. Strategic Relationships and Market Dependency - The company has a concentrated customer base, with key customers including subsidiaries of Geely Holding, which poses risks to its operations[63]. - Sales to Geely Holding and its subsidiaries accounted for 70.4%, 67.0%, and 78.9% of total revenues for the years ended December 31, 2021, 2022, and 2023, respectively[95]. - The company relies on strategic business relationships for growth, and any adverse changes in these partnerships could harm its business[106]. - The company derives substantially all of its revenues from China, making it highly sensitive to economic conditions in China and globally[148]. Intellectual Property and Innovation - The company relies on a combination of legal protections to safeguard its intellectual property, which may not be fully effective[165]. - The company’s patent rights may not protect it effectively due to potential expiration and challenges in enforcement[167]. - As of December 31, 2023, the company holds 563 registered patents and has 557 pending patent applications globally[168]. - The company relies on proprietary information, including trade secrets and know-how, to protect intellectual property that may not be patentable[169]. Human Resources and Talent Management - The company relies heavily on its executive officers and key employees, and losing their services could disrupt operations and adversely affect financial results[140]. - The company faces intense competition for talent in automotive intelligence technologies, which may hinder its ability to attract and retain qualified staff[141].

SHANGHAI, China, March 20, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (NASDAQ:ECX) ("ECARX" or the "Company"), a global mobility technology provider, today held its second Tech Day at the Hangzhou E-Sports Center, where it unveiled several ground-breaking automotive intelligence solutions and ecosystem advancements. ECARX hosted leaders from Chinese and global vehicle brands and ecosystem partners including FAW Group, Geely Group, Polestar, Volvo, Lynk & Co., smart, Microsoft, Qualcomm, and Lianyou Zhilia ...

SHANGHAI, China, March 04, 2024 (GLOBE NEWSWIRE) -- ECARX Holdings Inc. (NASDAQ:ECX) ("ECARX" or the "Company"), a global mobility tech provider, today highlighted how it is driving its global expansion through its robust research and development (R&D) capabilities and its expanding catalog of international accreditations. This approach has led to the deployment of ECARX solutions in over 6 million vehicles worldwide from 16 global automotive OEMs and 25 brands to date. ECARX has consistently prioritized in ...

Fourth Quarter and Full Year 2023 Financial Results February 28, 2024 Disclaimers Forward-Looking Statements This presentation contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other ...

ECARX Holdings Inc. (NASDAQ:ECX) Q4 2023 Earnings Conference Call February 28, 2024 8:00 AM ET Company Participants Rene Du - Investor Relations Ziyu Shen - Chairman and Chief Executive Officer Peter Cirino - Chief Operating Officer Phil Zhou - Chief Financial Officer Conference Call Participants Derek Soderberg - Cantor Fitzgerald Chang Xing - CICC Megan Jin - Macquarie Michelle Liu - HSBC Operator Good day and thank you for standing by. Welcome to the ECARX Fourth Quarter and Full Year 2023 Earnings Confe ...