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Warrant liabilities (Tables)

6 Months Ended

Jun. 30, 2024

Warrants and Rights Note Disclosure [Abstract]

Schedule of warrants are remeasured utilizing key assumptions

The Binomial Option Pricing Model with the following key assumptions is used for estimating the fair value of ECARX Private Warrants.

			As of December 31,						As of June 30,
			2023						2024
Risk-free rate of return (%)			3.93		%				4.47		%
Volatility			29.50		%				43.49		%
Expected dividend yield			0.0		%				0.0		%
Expected term			4.0 years						3.5 years
Fair value of the underlying ordinary shares			US$3.16 (equivalent to RMB22.44)						US$2.06 (equivalent to RMB14.97)

Schedule of movement of ECARX warrants

The table below reflects the movement of ECARX Warrants for the six months ended June 30, 2024:

			January 1, 2024 RMB						Addition RMB						Loss due to change in fair value RMB						Foreign exchange translation RMB						Settlement RMB						June 30, 2024 RMB
Liabilities
ECARX Public Warrants			3,195						—						—						75						—						3,270
ECARX Private Warrants			1,946						—						236						49						—						2,231
Total			5,141						—						236						124						—						5,501

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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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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