Ecarx Holdings SEC Filings

ECARX Holdings Inc. has entered into an Amendment Deed with its institutional noteholders to amend and restate the terms of its senior unsecured convertible notes and the related note purchase agreement. The aggregate purchase price for the Convertible Senior Notes is now set at US$130,000,000, with capacity for Additional Convertible Senior Notes in an aggregate principal amount of up to US$95,000,000.

The notes bear simple interest of 5% per annum, payable semi-annually, and mature on November 14, 2028. They are convertible into Class A Ordinary Shares at an initial conversion price of US$2.62 per share, subject to detailed anti‑dilution adjustments. Covenants include a debt cap of US$700,000,000, a negative pledge on publicly traded foreign debt securities, requirements to maintain stock exchange listing and regulatory compliance, and restrictions related to sanctions, anti‑money‑laundering and anti‑corruption laws. Events of Default and Mandatory Redemption Events cover non‑payment, conversion failures, cross‑default above US$40,000,000, change of control, delisting or extended trading suspension, insolvency events and certain unlawful or repudiatory acts, with disputes to be resolved by Hong Kong‑seated arbitration.

ECARX Holdings Inc. entered into a share exchange agreement with Qualcomm Ventures LLC, under which Qualcomm will acquire 10,329,562 Class A ordinary shares of ECARX. The price per share will equal the volume weighted average price of the Class A ordinary shares on Nasdaq for the 20 consecutive trading days immediately before July 7, 2026.

This transaction is tied to ECARX’s previously announced plan to acquire a minority interest and certain intellectual property rights from DreamSmart. Instead of paying cash, Qualcomm will transfer its equity interest in DreamSmart as consideration. Closing is subject to customary conditions and is expected in August 2026, and the ECARX shares Qualcomm receives will be subject to a six-month lock-up period with customary exceptions.

ECARX Holdings Inc. has arranged a large syndicated loan to fund its previously announced acquisition of 100% of Hubei Qiguang Technology Co., Ltd. A wholly owned subsidiary, ECARX (Hubei) Ecological Investment, and ECARX (Hubei) Technology are co-borrowers under a facility of up to RMB1,260,000,000 (approximately US$185 million).

The loan runs for up to 10 years, bears floating interest at the 5‑year Loan Prime Rate plus 10 basis points, with interest paid quarterly and principal repaid semi‑annually starting December 2026. The borrowers pledged all equity in Hubei Qiguang and obtained its joint and several guarantee. Revenues of ECARX Ecological, ECARX Technology, and Hubei Qiguang must flow through supervised bank accounts that prioritize servicing the loan and always hold at least the next principal and interest installment.

ECARX Holdings Inc. has entered a definitive agreement to acquire the entire Flyme software business from DreamSmart Group for RMB1.8 billion (approximately USD266 million). The deal covers Flyme Auto, already deployed by ECARX in over 2 million vehicles, and the broader cross-device Flyme OS platform.

The acquisition will be executed via purchase of 100% of the equity in a carved-out entity, valued at RMB1.824 billion as of May 31, 2026, which is expected to hold all key Flyme IP, R&D teams and customer contracts within six months after closing. About 70% of the price will be funded by 10-year syndicated bank loans from Chinese commercial banks and about 30% from internal sources, followed by a planned RMB200 million capital injection.

Management states that the Flyme platform has achieved profitability in 2026 on management accounts and is intended to be run as an independent software division. ECARX highlights that owning Flyme’s end-to-end OS capabilities is meant to align its hardware and software roadmaps and expand software licensing and integration revenues in the growing in-car intelligence market.

ECARX Holdings Inc. has filed a Form 6-K to furnish a press release announcing a binding cooperation agreement with TPK Holding Co., Ltd. to co-develop the proprietary ORCA LiDAR platform for global automotive markets. The platform is designed to meet strict regulatory and functional safety standards and support advanced driver assistance and autonomous driving systems.

ECARX will focus on system integration, sensor fusion and worldwide commercialization, while TPK contributes optical design and high-volume manufacturing capabilities. Mass production of the ORCA LiDAR platform is planned to begin in 2028 at TPK’s facility in Thailand, targeting vehicle makers and robotaxi fleets for both premium cars and scalable mobility services.

ECARX Holdings reported unaudited first-quarter 2026 results with total revenue of US$131.5 million, down 22% year over year, as lower software license and service revenue offset relatively stable sales of goods. Gross profit was US$28.2 million with gross margin improving from 19.8% to 21.4% on pricing and product mix.

Net loss narrowed to US$11.0 million from US$27.2 million, helped by a sharp reduction in operating expenses and a US$14.2 million gain from equity method investments. Adjusted EBITDA turned positive at US$4.0 million versus a US$14.5 million loss a year earlier. R&D expenses fell 32% to US$23.5 million, and the company ended March 31, 2026 with total cash of US$70.1 million. ECARX reiterated full-year 2026 revenue guidance of US$1.0–US$1.1 billion and highlighted new partnerships, including May Mobility, and over 11 million vehicles globally using its technologies.

ECARX Holdings Inc. filed a Form 6-K highlighting a strategic framework agreement with May Mobility to support an autonomous ride-hail fleet. ECARX is expected to develop high-performance L4 central computing platforms and a complete sensor suite for thousands of autonomy-enabled vehicles, with initial deployment targeted for next year and commercialization scale-up in 2028. The collaboration targets at least a 50% reduction in the all-in cost of May Mobility’s autonomous vehicles by 2028 and an estimated total project value of about US$750m over its duration, subject to definitive agreements and regulatory determinations.

ECARX Holdings Inc. has appointed Lone Fønss Schrøder as Chairperson of its Board of Directors, effective immediately, formally separating the roles of Chairperson and Chief Executive Officer. Ziyu Shen remains Chief Executive Officer and a Director, which the company highlights as a strengthening of its corporate governance framework.

Ms. Schrøder is a Danish executive with decades of leadership experience across automotive, technology, finance, logistics, and industrial sectors. Her background includes serving as Vice Chairperson of Volvo Cars during a major period of electrification and software transformation, and board roles at Ingka Holding B.V. (IKEA Group), Ikano Bank, GSHAB, companies within the Aker Group, and Geely Sweden Holdings.

The company notes that her expertise in corporate governance, global strategy, electrification, AI, and software-defined vehicles supports ECARX’s international ambitions, including a strategic goal of generating 50% of its revenue from global markets by 2030. ECARX describes itself as a global automotive technology provider with more than 1,400 employees in 13 locations and products in approximately 11 million vehicles worldwide.

ECARX Holdings Inc. announced that its board approved a preliminary plan to pursue the potential acquisition of a minority interest and certain intellectual property assets, particularly relating to FlyMe OS, from its Singapore-based affiliate DreamSmart Technology Pte. Ltd. and related entities.

The total consideration may combine cash with securities of ECARX and/or its subsidiaries, and the company may seek third-party debt financing to fund part of the transaction and costs. The planned acquisition is at an early, exploratory stage, subject to due diligence, negotiations, financing and board approvals, and there is no assurance a binding agreement or closing will occur.