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Warrant liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Warrants and Rights Note Disclosure [Abstract]

Schedule of changes in warrant liability measured at fair value using unobservable inputs

The tables below reflect the movement of the warrant liability for the year ended December 31, 2021:

			January 1, 2021 RMB						Addition RMB						Change in fair value included in losses RMB						Foreign exchange translation RMB						Settlement (Note 18) RMB						December 31, 2021 RMB
Liabilities
Warrant liabilities			80,270						—						111,299						—						(191,569)						—

Schedule of warrants are remeasured utilizing key assumptions

			As of December 31,
			2022			2023
Risk-free rate of return (%)			3.99		%	3.93		%
Volatility			6.99		%	29.50		%
Expected dividend yield			0.0		%	0.0		%
Expected term			5.0 years			4.0 years
Fair value of the underlying ordinary shares			US$7.99 (equivalent to RMB55.11)			US$3.16 (equivalent to RMB22.44)

Schedule of movement of ECARX warrants

The table below reflects the movement of ECARX Warrants for the years ended December 31, 2022 and 2023:

			January 1, 2022 RMB						Addition RMB						Loss/(gain) due to change in fair value RMB						Foreign exchange translation RMB						Settlement RMB						December 31, 2022 RMB
Liabilities
ECARX Public Warrants			—						8,277						1,991						78						—						10,346
ECARX Private Warrants			—						4,895						1,254						49						—						6,198
Total			—						13,172						3,245						127						—						16,544

			January 1, 2023 RMB						Addition RMB						Loss/(gain) due to change in fair value RMB						Foreign exchange translation RMB						Settlement RMB						December 31, 2023 RMB
Liabilities
ECARX Public Warrants			10,346						—						(7,349)						198						—						3,195
ECARX Private Warrants			6,198						—						(4,370)						118						—						1,946
Total			16,544						—						(11,719)						316						—						5,141

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

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