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Short-term borrowings

6 Months Ended

Jun. 30, 2024

Short-Term Debt [Abstract]

Short-term borrowings

Short-term borrowings

Short-term borrowings consisted of the following:

			As of December 31,						As of June 30,
			2023						2024
			RMB						RMB
Unsecured bank loans			1,200,000						1,600,000

As of December 31, 2023, the Group’s short-term borrowings bear interest rates of 3.8%, 3.9% and 4.0% per annum. As of June 30, 2024, the Group’s short-term borrowings bear interest rates of 4.0% and 3.9% per annum. As of December 31, 2023 and June 30, 2024, the Group had a total line of credit in the amount of RMB1,200,000 and RMB1,700,000, of which the unused portion was nil and RMB100,000, respectively.

Short-term borrowings of RMB180,000 and nil as of December 31, 2023 and June 30, 2024 were guaranteed by Hubei ECARX Technology Co. Ltd., which is a related party of the Group.

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- References

No definition available.

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- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

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