ECARX Holdings Inc. - $ECX STOCK NEWS

ECARX Holdings, Inc. (Nasdaq: ECX), a global mobility tech provider, will report its financial results for Q1 2024 on May 20, 2024. The earnings conference call will discuss the results and address questions from analysts and investors.

The webcast details are as follows:
Date: Monday, May 20, 2024
Time: 8:00am EST
Webcast: Link

Join the live conference call by registering here at least 15 minutes in advance. Audio replay and presentation materials will be available on ECARX's investor relations website.

ECARX Holdings Inc. (Nasdaq: ECX) announced a strategic partnership with China FAW Group Co., to develop intelligent cockpits for the premium Hongqi brand of vehicles. The partnership aims to set new industry benchmarks by combining research and development capabilities. Ziyu Shen, CEO of ECARX, expressed excitement about the collaboration.

ECARX Holdings Inc. (Nasdaq: ECX) has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the SEC. Shareholders can access the report on the company's investor relations website. Hard copies are available upon request, free of charge.

ECARX Holdings Inc. (ECX) announces a strategic partnership with Lianyou Zhilian Technology Co., to develop innovative intelligent cockpits and driving solutions for automakers. The partnership aims to enhance travel experiences globally by integrating technological strengths and research capabilities.

ECARX Holdings Inc. partners with Microsoft to enhance intelligent vehicle technology, integrating large language models into vehicles globally. The collaboration aims to revolutionize intelligent cockpits and autonomous driving solutions, providing advanced intelligence and connectivity.

ECARX Holdings Inc. debuts industry-leading automotive intelligence solutions at Hangzhou event, unveiling new computing platforms, driving and parking capabilities, and strategic partnerships.

ECARX Holdings Inc. (ECX) is driving global expansion through robust R&D capabilities and international accreditations, deploying solutions in over 6 million vehicles worldwide. The company obtained 23 global accreditations, including ISO/SAE 21434 for automotive cybersecurity, enabling compliance with regulatory requirements and wider global deployment. ECARX collaborates with industry leaders to develop innovative automotive solutions and has successfully deployed Google Automotive Service for vehicle launches in overseas markets.

ECARX Holdings Inc. (ECX) reported a 31% year-over-year increase in revenue for Q4 2023, with total revenue reaching RMB1,868.7 million. The company also narrowed its net loss significantly. The innovative digital cockpit solutions gained traction, leading to partnerships with global automotive OEMs. Despite a decrease in software license revenue, service revenue saw a 95% increase due to successful deliveries of Volvo EX30 and Polestar 4. While research and development expenses decreased, total cost of revenue and net loss also decreased. ECARX aims to improve operating efficiency to achieve profitability amidst growing business scale. Full-year 2023 results showed a 31% revenue increase, with total revenue at RMB4,666.1 million. Sales of goods revenue and service revenue also saw significant growth. Gross profit margin was 23% for Q4 2023 and 27% for the full year. Research and development expenses decreased, contributing to a lower net loss compared to 2022. Adjusted EBITDA loss improved in 2023. The company expanded its global customer base, secured multiple project wins, and launched new vehicles equipped with ECARX solutions.

ECARX Develops Cloudpeak Software for Software-Defined Vehicles, Starting with Volvo EX30 Electric SUV