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 [24][25] - Gross profit for the quarter was $70 million, a decline of 58% year-over-year, resulting in a gross margin of 11%, down 12% compared to the previous year [25] - Operating expenses were reduced by 20% year-over-year to $57 million, contributing to a slight decline in adjusted EBITDA loss to $30 million from $29 million in the same period last year [26][27] Business Line Data and Key Metrics Changes - The Antora, Vanado, and Skyland platforms contributed 56% to total sales of goods revenue, more than doubling from 28% in the prior year [24] - Service revenue decreased by 34% year-over-year to $23 million, primarily due to lower revenue from non-recurring engineering services [25] Market Data and Key Metrics Changes - Shipments of the Antora series solution surged 112% year-over-year to 135,000 units during the quarter, supporting growth momentum [6] - The company serves 18 OEMs across 28 brands globally, with a significant presence in both the Chinese and international markets [10][17] Company Strategy and Development Direction - The company is focused on achieving EBITDA breakeven in each of the remaining quarters of 2025, with a target of close to 20% revenue growth for the full year [5][27] - A new global headquarters in Singapore is set to open in 2025 to enhance global IP management, R&D collaboration, and supply chain optimizations [9][21] - The company is diversifying its customer base, with Geely accounting for 40-50% of total business and ongoing efforts to expand into international markets [58] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of seasonal headwinds and macroeconomic uncertainties but emphasized solid progress in securing new projects and partnerships [4][24] - The company remains confident in achieving adjusted EBITDA breakeven and expects full-year revenue to recover strongly, driven by volume growth and improved product mix [27] Other Important Information - The company has secured over $1 billion in lifetime revenue from overseas contracts and has 14 active projects with eight different carmakers [6][38] - The company received three ISO certifications for quality management, environmental stewardship, and occupational health and safety, which are prerequisites for collaboration with leading automakers [21] Q&A Session Summary Question: Update on non-automotive business layout and future development - Management expressed optimism about the potential for non-automotive applications, particularly in robotics, leveraging LiDAR technology [33][36] Question: Progress in overseas expansion and international clients - Management highlighted ongoing efforts in Europe and other markets, with 14 active programs and recognition from Volkswagen for innovation capabilities [38][39] Question: Update on in-house chip development - Management confirmed continued growth of the Antora platform and plans to launch Qualcomm A295 products, indicating a robust roadmap for SoC development [40] Question: Volume guidance for the second half of the year - Management projected shipment volumes of 1.4 to 1.5 million vehicles in the second half, aiming for a total of 2.5 to 2.6 million vehicles for the year, reflecting a 30% year-over-year growth [45] Question: Pricing pressures and content per car improvements - Management acknowledged pricing pressures but noted improvements in content per car due to strategic pricing and cost optimization efforts [46][48] Question: Update on ADCU business and collaboration with Qualcomm - Management confirmed plans to work with Qualcomm's SoCs, including the 8,775, and highlighted the development of a Fusion platform for enhanced vehicle features [51][53]

Financial Performance - Q2 2025 revenue was $155.6 million, a decrease of 10% year-over-year[17] - Q2 2025 gross profit was $16.8 million, with a gross margin of 11%[18] - Q2 2025 operating expenses decreased by 20% to $57.2 million[18] - The net loss for Q2 2025 was $45.4 million[92] - Adjusted EBITDA for Q2 2025 was $(29.7) million[97] Products and Operations - Antora®shipment increased 112%[17] - The company serves 18 OEMs across 28 vehicle brands as of June 30, 2025[18] - Product in Vehicles 9.3mn+[17] Reporting Change - The company changed its reporting currency from Chinese Renminbi ("RMB") to U.S Dollars ("USD")[7]

Core Insights - ECARX Holdings Inc. reported a total revenue of US$155.6 million for Q2 2025, reflecting a 10% decrease year-over-year, attributed to seasonal headwinds and contract timing [2][7] - The company aims to achieve EBITDA breakeven in each of the remaining quarters of 2025, targeting close to 20% revenue growth for the year [2][3] - Shipments of the Antora series solutions increased by 112% year-over-year, reaching 135,000 units, driven by demand from the Geely portfolio [3][11] Financial Performance - Total revenue for Q2 2025 was US$155.6 million, down 10% YoY, with sales of goods revenue at US$131.2 million, up 1% YoY [7][28] - Software license revenue fell 85% YoY to US$1.2 million, primarily due to declines in intellectual property and per-vehicle software license revenues [7][28] - Service revenue decreased by 34% YoY to US$23.2 million, mainly due to reduced design and development service contracts [8][28] - Gross profit was US$16.8 million, down 58% YoY, resulting in a gross margin of 11%, down from 23% in the same period last year [11][28] - Net loss for Q2 2025 was US$45.4 million, compared to a net loss of US$42.1 million in Q2 2024 [11][28] Business Development Highlights - The company is expanding its global footprint, collaborating with a top-five automaker in China and developing a next-generation intelligent cockpit operating system for a premium global brand [3][11] - ECARX has secured contract wins with a total lifetime revenue of over US$1 billion, indicating strong demand for its technology [3][11] - The company received the Technical Development & Innovation award from Volkswagen Brazil, highlighting its innovation and global impact [4][18] - A new global headquarters in Singapore is set to open in the second half of 2025, aimed at enhancing R&D collaboration and supply chain optimization [4][11] Technological Advancements - The company is focusing on safety, security, and performance benchmarks for products that can be deployed across various applications [4][11] - ECARX's lidar technology has been selected by a leading developer of robotic lawn mowers, marking the start of monetization beyond the automotive sector [3][11] - The company is supporting the launch of new vehicle programs that integrate advanced computing platforms and software stacks, setting new standards for AI-powered intelligent cockpits [11][18]

夏莲指出，上市圈钱不是自己的人生追求和理想，自己从斑马智行首轮融资12亿，60亿 AliOS合并重 组，30亿再增资，7亿新股权融资，到完成股改，一路风雨，支持自己的是对一件事有始有终做完的信 念，对一群有情有义的人做一件有意义的事的理想主义追求，如果这些不复存在，自己不愿意为上市圈 钱再委曲求全。 "非常鄙视斑马某些高管的人品与行径，承认你的权谋与城府，但鄙视你的为人与价值观。"夏莲表示， 因为还有一些好朋友投资在斑马这个局里，很高兴自己的离开帮这些朋友降低了50%的估值，"希望降 了50%估值的斑马可以帮他们成功登陆"。 责任编辑：何俊熹 新浪科技讯 8月22日晚间消息，斑马网络技术股份有限公司（简称斑马智行）递交招股书准备在港交所 上市之际，原斑马智行CFO夏莲在朋友圈发文对此事进行了点评，公开表示"不看好公司业务发展""上 市圈钱不是人生追求和理想"，并表示自己已于2025年4月离开公司。 夏莲表示，"过去3年也许斑马业绩增长不达预期，但对比未来3年，很可能是斑马最好的3年。"在其看 来，没有门槛的座舱技术，车厂都可以自己干。 ...

Group 1 - Alibaba plans to spin off its subsidiary, Zebra Network Technology Co., Ltd., and list it independently on the Hong Kong Stock Exchange [1] - After the spin-off, Alibaba will retain over 30% ownership of Zebra [1] - The spin-off aims to allow Zebra to reflect an independent valuation, attract more specific sector investors, and enhance its independent image and market flexibility [1] Group 2 - Deutsche Bank, CICC, and Guotai Junan International are acting as joint sponsors for the listing [1]

Core Viewpoint - Foresight Autonomous Holdings Ltd. plans to conduct a reverse share split at a ratio of 1-for-7, effective on August 24, 2025, on the Tel-Aviv Stock Exchange and August 25, 2025, on the Nasdaq Capital Market [1][2]. Company Overview - Foresight Autonomous Holdings Ltd. is a technology company focused on developing advanced 3D perception systems and cellular-based applications [5]. - The company operates through subsidiaries including Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd., and Eye-Net Mobile Ltd., which develop both "in-line-of-sight" vision systems and "beyond-line-of-sight" accident-prevention solutions [5]. Reverse Share Split Details - The reverse share split will not change the existing ratio of ordinary shares represented by the Company's American Depositary Shares (ADSs) [2]. - Following the reverse share split, the ADS price is expected to increase proportionally, although there is no assurance that the post-split price will match the expected proportionate increase [2]. - The reverse share split aims to help the company maintain compliance with Nasdaq listing requirements, though success in this goal is not guaranteed [2]. Shareholder Impact - The reverse share split will not affect any shareholder's percentage ownership or voting power [4]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [4]. Product and Market Applications - Foresight's 3D perception systems include automatic calibration modules and dense 3D point clouds applicable in various markets such as automotive, defense, autonomous driving, agriculture, heavy industrial equipment, and unmanned aerial vehicles (UAVs) [6]. - Eye-Net Mobile focuses on developing next-generation vehicle-to-everything (V2X) collision prevention solutions, enhancing road safety and situational awareness through AI technology and existing cellular networks [7].

Core Insights - Cerence Inc. has integrated its Audio AI suite into HARMAN's AudioworX, enhancing automotive audio experiences with advanced technologies [1][2] - The collaboration aims to improve safety and clarity in vehicle communication through features like Speech Signal Enhancement (SSE), In-Car Communication (ICC), and Emergency Vehicle Detection (EVD) [2][3] Company Overview - Cerence Inc. is a leader in AI-powered automotive experiences, with over 525 million cars equipped with its technology [5] - The company focuses on creating safer and more enjoyable journeys by leveraging voice, generative AI, and large language models [5] Industry Context - The automotive industry is evolving towards integrated, personalized experiences that align with consumer expectations for smart devices [4] - HARMAN's AudioworX simplifies the development process for automakers, allowing for faster deployment of advanced audio solutions [2][4]

Core Insights - Luminar Technologies reported a second-quarter adjusted loss of $1.49 per share, missing the Street estimate of $1.18 [1] - Quarterly revenue was $15.63 million, falling short of the consensus estimate of $17.27 million [1] Financial Performance - Revenue for the second quarter was $15.6 million, down 5% year-over-year and 17% quarter-over-quarter [6] - Gross loss for the second quarter was $10.8 million on a non-GAAP basis [6] - Non-GAAP net loss for the second quarter was $73.1 million, equating to $1.49 per share [6] - Operating expenses for the second quarter were $47 million on a non-GAAP basis [6] - Cash and marketable securities at the end of the second quarter totaled $107.6 million [6] Strategic Actions - The CEO stated that the company is taking decisive steps to fulfill customer commitments and focus on near-term revenue and profit opportunities beyond automotive markets [3] - The company is streamlining operations by exiting non-core areas and concentrating on key operational milestones [4] Outlook - Luminar has lowered its full-year sales guidance from a previous range of $82.93 million to $90.47 million to a new range of $67 million to $74 million, compared to the analyst estimate of $86.32 million [4]

Core Viewpoint - Garrett Motion Inc. successfully repriced its existing $690 million term loan, reducing interest rates and enhancing its financial position, which reflects lender confidence in the company's long-term strategy [1][2]. Company Overview - Garrett Motion Inc. is a differentiated technology leader with a 70-year history in the automotive sector, focusing on innovation in turbocharging and reducing engine size, fuel consumption, and CO2 emissions [3]. - The company is expanding its technology solutions for Zero Emission Vehicles, including fuel cell compressors for hydrogen fuel cell vehicles and systems for battery electric vehicles [3]. - Garrett operates six R&D centers, 13 manufacturing sites, and employs over 9,000 people across more than 20 countries [3].

Q3 FY25 Performance - Total revenue decreased to $62.2 million, compared to $70.5 million in Q3 FY24[5] - Gross margin increased to 73.7% from 71.5% in Q3 FY24[5] - Net loss improved to $(2.7) million from $(313.5) million in Q3 FY24[5] - Adjusted EBITDA decreased to $9.0 million from $12.5 million in Q3 FY24[5] - Cash provided by operating activities significantly increased to $48.4 million from $11.1 million in Q3 FY24[5] - Cash balance & marketable securities decreased to $73.7 million from $121.5 million in Q3 FY24[5] Revenue Details - Variable license revenue increased to $34.2 million in Q3 FY25[7] - Pro forma royalties increased to $43.2 million in Q3 FY25[9] - Adjusted Total Billings TTM increased by 3.5% to $226 million[12] Key Performance Indicators - Cerence technology is present in 52% of worldwide auto production (TTM)[12] - Approximately 12 million units shipped with Cerence technology in Q3, a 2.5% YoY increase[12] - Connected attach rate increased to 31% from 27% a year ago[12] - Average PPU on a TTM basis increased to $4.91 from $4.47 a year ago[12] Fiscal Q4 and FY25 Guidance - Q4FY25 revenue is projected to be between $53 million and $58 million[13] - FY25 revenue is projected to be between $244 million and $249 million[13]