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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.
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-2.55%
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ECARX Develops Cloudpeak Software for Software-Defined Vehicles, Starting with Volvo EX30 Electric SUV
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-0.77%
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ECARX Holdings Inc. (Nasdaq: ECX) announces the successful launch of its new office in Stuttgart, Germany, marking a significant milestone in the company's growth strategy. The new office will focus on providing cutting-edge infotainment, connectivity, and ADAS technology to European automotive OEMs, showcasing ECARX's commitment to customer excellence and tailored software solutions.
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-6.58%
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ECARX Holdings, Inc. (Nasdaq: ECX) will report its financial results for Q4 and full year 2023 on February 28, 2024. The company will hold an earnings conference call to discuss the results and answer questions from analysts and investors.
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2.65%
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ECARX Holdings Inc. (Nasdaq: ECX) appointed Mr. Tan Su as a director, replacing Mr. Zhenyu Li due to personal reasons. Mr. Su, previously with Baidu, brings extensive experience in automotive intelligence and management. He holds a BS in geographic information systems and is currently pursuing an EMBA at Guanghua School of Management of Peking University.
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ECARX Holdings Inc. (Nasdaq: ECX) has announced the establishment of a joint venture with smart, a new-premium intelligent all-electric auto brand, through their respective subsidiaries. The joint venture, smart (Zhejiang) Software Technology Co., Ltd., aims to drive the development of industry-leading intelligent experiences within smart vehicles. This partnership will leverage each company’s respective brand resources and product development capabilities to build upon smartOS by expanding the research and development ecosystem, streamlining procurement and supply chain processes, and integrating teams of highly-skilled technical talent to drive vehicle development. ECARX and smart plan to integrate ECARX’s high-performance Makalu computing platform into smart series models, improving customer satisfaction, enhancing brand loyalty, and expedite the deployment of the ECARX Makalu computing platform across smart’s range of models.
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11.15%
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ECARX Holdings Inc. (Nasdaq: ECX) has announced a new strategic partnership agreement with Black Sesame Technologies to develop cutting-edge ADAS solutions and integrate intelligent driving capabilities into ECARX’s leading solutions. The partnership aims to drive innovation, achieve widespread adoption of intelligent driving, and accelerate the intelligent transformation of the global automotive industry.
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1.95%
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ECARX Holdings Inc. (Nasdaq: ECX) partners with Black Sesame Technologies and BlackBerry Limited (NYSE: BB; TSX: BB) to deploy its Skyland ADAS platform in Lynk & Co’s flagship SUV, the Lynk & Co 08. This marks the Company’s inaugural mass-production of the ECARX Skyland Pro and represents the first large-scale production and application of the Black Sesame A1000 chip for use in ADAS solutions.
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2.75%
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ECARX Holdings Inc. (ECX) announced the mass production of the Lynk & Co 06 EM-P SUV with the ECARX Antora 1000 computing platform, following the successful launch of the Lynk & Co 08 EM-P SUV. The ECARX Antora 1000 powers a 14.6-inch central control screen and a 10.2-inch TFT instrument cluster, offering advanced features such as online navigation, voice commands, karaoke, and e-sports. It boasts a SE1000 7nm high-performance automotive-grade system-on-a-chip, a high-performance NPU, 16GB memory, 128GB storage, and automotive-grade safety and security solutions.
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ECARX Holdings Inc. (Nasdaq: ECX) announced unaudited financial results for Q3 2023, with revenue up 50% YoY. Total revenue was RMB1,080.0 million, gross profit was RMB330.9 million, and net loss was RMB281.2 million. The company also highlighted new design wins, global expansion, and product updates.
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-7.41%
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ECARX Holdings Inc.
Nasdaq:ECX
ECX Rankings
ECX Stock Data
392.16M
101.94M
62.92%
2.16%
0.16%
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