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Related party balances and transactions | 6 Months Ended
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Jun. 30, 2024
Related Party Transactions [Abstract] |
Related party balances and transactions | Related party balances and transactions (a)Related Parties
Names of the major related parties |  | Nature of relationship
Zhejiang Geely Holding Group (“Geely Group”) and its subsidiaries |  | Entity controlled by the controlling shareholder of the Company
Proton Holdings Berhad and its subsidiaries |  | Entity that the controlling shareholder of the Company has significant influence
Anhui Xinzhi Technology Co., Ltd. |  | Entity controlled by the controlling shareholder of the Company
Zhejiang Huanfu Technology Co., Ltd., ("Zhejiang Huanfu", formerly known as Zhejiang Yikatong Technology Co., Ltd.) |  | Entity controlled by the controlling shareholder of the Company
Xi'an Liansheng Intelligent Technology Co., Ltd. |  | Entity controlled by the controlling shareholder of the Company
Hubei Xingji Meizu Group Co., Ltd. (formerly known as Hubei Yuanshidai Technology Co., Ltd.) |  | Entity controlled by the controlling shareholder of the Company
Wuhan Xingji Meizu Technology Co., Ltd and its subsidiaries |  | Entity controlled by the controlling shareholder of the Company
Hubei ECARX Technology Co., Ltd. (“Hubei ECARX”) |  | Entity controlled by the controlling shareholder of the Company
Arteus Group Limited |  | Entity controlled by the controlling shareholder of the Company
DreamSmart Technology Pte. Ltd. (“DreamSmart”) and its subsidiaries |  | Entity controlled by the controlling shareholder of the Company
Apollo Intelligent Connectivity (Beijing) Technology Co., Ltd. |  | Entity that one director of the Company has significant influence
SiEngine Technology Co., Ltd. (“SiEngine”) |  | Entity which is under significant influence of the Company
Hubei Dongjun Automotive Electronic Technology Co., Ltd. |  | Entity which is under significant influence of the Company
Shenzhen U Chance Technology Co., Ltd. |  | Entity which is under significant influence of the Company
HaleyTek AB |  | Entity which is under significant influence of the Company
(b)Significant transactions with related parties, except transactions disclosed elsewhere in these unaudited condensed consolidated financial statements:
| Six Months Ended June 30,
| 2023 |  | 2024
| RMB |  | RMB
Revenues(i): |  |  |
Sales of goods revenues | 1,018,256 |  |  | 1,470,170 |
Automotive computing platform | 1,013,860 |  |  | 1,467,211 |
SoC Core Modules | 140 |  |  | 1,611 |
Automotive merchandise and other products | 4,256 |  |  | 1,348 |
Software license revenues | 164,995 |  |  | 92,923 |
Service revenues | 256,427 |  |  | 361,772 |
Automotive computing platform – Design and development service | 119,291 |  |  | 223,204 |
Connectivity service | 99,254 |  |  | 78,103 |
Other services | 37,882 |  |  | 60,465 |
Total | 1,439,678 |  |  | 1,924,865 |
| Six Months Ended June 30,
| 2023 |  | 2024
| RMB |  | RMB
Purchase of products and services (ii) | 216,079 |  |  | 376,504 |
Rental of office space, and administrative services (ii) | 2,400 |  |  | 2,168 |
Other income (vi) | 7,055 |  |  | — |
Interest income on loans due from related parties (iii)(v) | 6,771 |  |  | 5,899 |
Interest expense on borrowings due to related parties (iv) | 6,116 |  |  | 7,706 |
Loans to related parties (iii) | 12,000 |  |  | 9,800 |
Repayment received of loans to related parties (iii) | 8,500 |  |  | 17,700 |
Repayment of borrowings from related parties (iv) | — |  |  | 100,000 |
Borrowings from related parties (iv) | 300,000 |  |  | 449,000 |
(c)Balances with related parties:
| As of December 31, |  | As of June 30,
| 2023 |  | 2024
| RMB |  | RMB
Accounts receivable – related parties, net (i) | 1,572,703 |  |  | 933,973 |
Amounts due from related parties (ii)(iii) | 74,122 |  |  | 91,398 |
Other non-current assets - related parties (v) | 224,349 |  |  | 274,370 |
Accounts payable – related parties (ii) (vii) | 312,830 |  |  | 403,424 |
Amounts due to related parties (ii)(iv) | 35,664 |  |  | 375,696 |
Other non-current liabilities– related parties (vii) | 44,519 |  |  | 46,425 |
___________________________ (i)The Group sold automotive computing platform products, merchandise and other products, software licenses and provided related technology development services, connectivity service, and other consulting services to a number of related parties. Accounts receivable, net due from related parties arising from sales of products and provision of services were RMB1,572,703 and RMB933,973 as of December 31, 2023 and June 30, 2024 , respectively. (ii)The Group purchased raw materials, technology development services and other consulting services from a number of related parties, of which, RMB24,014 and RMB75,008 of purchase of raw materials were recorded as inventories as of June 30, 2023 and 2024, respectively, RMB186,724 and RMB284,709 were recorded in cost of revenues for the six months ended June 30, 2023 and 2024 , respectively, RMB5,341 and RMB16,787 were recorded in operating expenses for the six months ended June 30, 2023 and 2024, respectively. T he Group also rented office space from related parties, pursuant to which, the Group recorded rental expenses of RMB2,400 and RMB2,168 in operating expenses for the six months ended June 30, 2023 and 2024, respectively. Accounts payable to related parties includes payables arising from purchase of raw materials and services of RMB 312,830 and RMB403,424, amount due from related parties includes prepayments arising from purchase of raw materials and services of RMB 8,420 and RMB 79,884 as of December 31, 2023 and June 30, 2024 , respectively. Amounts due to related parties includes payables arising from purchase of technical services and logistics services of RMB 9,701 and RMB20,978 as of December 31, 2023 and June 30, 2024, respectively. (iii)The Group provided loans of RMB 12,000 and RMB9,800 to related parties, and received repayments of RMB 8,500 and RMB 17,700 from related parties for the six months ended June 30, 2023 and 2024 respectively. Interest incomes on loans due from related parties were RMB 1,567 and RMB 374 for the six months ended June 30, 2023 and 2024, respectively. As of December 31, 2023 and June 30, 2024, loans and interest receivables due from related parties were RMB 65,702 and RMB11,514. (iv)In January 2023, ECARX (Hubei) Tech entered into an unsecured loan agreement with Geely Group in an amount of RMB 300,000 with an interest rate of 4.1% per annum, which was fully repaid in December 2023. The term of the loan was subsequently extended to June 30, 2025, and the interest rate was reduced to 3.9% per annum during the extended period. In January 2024, ECARX (Hubei) Tech obtained renewed RMB 300,000 loan from Geely Group. In June 2024, RMB 100,000 out of the loan was repaid, the remaining RMB 200,000 loan is repayable on June 30, 2025. In March 2024, the Group entered into an accounts receivable factoring agreement with a finance company of Geely Group with a minimum interest rate of 6.0% per annum (Note 3). The Group cumulated received RMB 149,000 from the finance company during current period. Interest expense on borrowings from related parties were RMB 6,116 and RMB 7,706 for the six months ended June 30, 2023 and 2024, respectively. The borrowings and the interest payable on borrowings from related parties was included in the amounts due to related parties and was RMB 25,963 and RMB 354,718 as of December 31, 2023 and June 30, 2024, respectively. (v)As of December 31, 2023 and June 30, 2024, the balance of other non-current assets due from related parties included the amounts due from its former VIE, Hubei ECARX in the amount of RMB224,349 and RMB274,370, which represented the net present value of a loan provided by the Group to Hubei ECARX with the principal of RMB252,287 and an effective annual interest rate of 5.0%. Interest incomes on loans due from related parties were RMB5,204 and RMB5,525 for the six months ended June 30, 2023 and 2024, respectively. (vi)Other income from related parties represents the amounts due from Arteus for recharges of expenses including those in relation to management service, sharing of office space, consultancy and other expenses paid by the Group on behalf of Arteus Group Limited. In June 2023, ECARX signed an assignment of rights agreement with Arteus and DreamSmart. The amounts due from Arteus were assigned to DreamSmart, all of which were settled as of December 31, 2023. (vii)In November 2023, the Group entered into a licensing agreement with Xingji Meizu, pursuant to which, the Group obtained a non-exclusive license under certain software of Xingji Meizu to develop and sell these software worldwide for three years. The consideration is due by instalment in three years of RMB50,000 each year. As of June 30, 2024, amounts due to Xingji Meizu of RMB96,425, representing the net present value of the long-term payables to Xingji Meizu with an effective annual interest rate of 4.0%, of which RMB50,000 was included within accounts payable – related parties and RMB46,425 was recorded as other non-current liabilities.

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