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CONSOLIDATED BALANCE SHEETS
Dec. 31, 2024
CNY (¥)
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
CNY (¥)
shares
Current assets      
Cash ¥ 324,036,000 $ 44,393,000 ¥ 571,760,000
Restricted cash 43,416,000 5,948,000 27,126,000
Short-term investments 130,525,000 17,882,000 137,876,000
Notes receivable 16,817,000 2,304,000 54,634,000
Inventories 233,942,000 32,050,000 160,781,000
Amounts due from related parties 35,367,000 4,845,000 74,122,000
Prepayments and other current assets 452,285,000 61,959,000 443,500,000
Total current assets 2,831,327,000 387,886,000 3,328,321,000
Non-current assets      
Long-term investments 15,839,000 2,170,000 300,987,000
Property and equipment, net 160,299,000 21,961,000 120,785,000
Intangible assets, net 309,777,000 42,439,000 179,341,000
Operating lease right-of-use assets 132,650,000 18,173,000 125,205,000
Goodwill 25,727,000 3,525,000 0
Total non-current assets 939,804,000 128,753,000 978,903,000
Total assets 3,771,131,000 516,639,000 4,307,224,000
Current liabilities      
Short-term borrowings 1,360,000,000 186,319,000 1,200,000,000
Notes payable 142,016,000 19,456,000 9,959,000
Amounts due to related parties 177,886,000 24,370,000 35,664,000
Operating lease liabilities, current 40,918,000    
Convertible notes payable, current 470,610,000 64,473,000 0
Accrued expenses and other current liabilities 626,553,000 85,837,000 614,540,000
Income tax payable 20,360,000 2,789,000 15,794,000
Total current liabilities 5,125,222,000 702,151,000 4,252,228,000
Non-current liabilities      
Convertible notes payable, non-current 0 0 455,701,000
Operating lease liabilities, non-current 121,420,000 16,634,000 107,605,000
Warrant liabilities, non-current 8,764,000 1,201,000 5,141,000
Provisions 110,075,000 15,080,000 90,871,000
Deferred tax liabilities 15,199,000 2,082,000 0
Total non-current liabilities 390,804,000 53,539,000 886,624,000
Total liabilities 5,516,026,000 755,690,000 5,138,852,000
Commitments and contingencies 0 0 0
SHAREHOLDERS’ DEFICIT      
Treasury shares, at cost (7,435,000) (1,019,000) 0
Additional paid-in capital 6,214,270,000 851,351,000 6,096,675,000
Accumulated deficit (7,603,001,000) (1,041,607,000) (6,670,686,000)
Accumulated other comprehensive loss (363,505,000) (49,800,000) (344,578,000)
Total deficit attributable to ordinary shareholders of ECARX Holdings Inc. (1,759,660,000) (241,074,000) (918,579,000)
Non-redeemable noncontrolling interests 14,765,000 2,023,000 86,951,000
Total shareholders’ deficit (1,744,895,000) (239,051,000) (831,628,000)
Liabilities and shareholders’ deficit 3,771,131,000 516,639,000 4,307,224,000
Class A Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary Shares ¥ 10,000 $ 1,000 ¥ 9,000
Ordinary shares, shares outstanding (in shares) | shares 291,166,110 291,166,110 288,989,049
Class B Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary Shares ¥ 1,000 $ 0 ¥ 1,000
Ordinary shares, shares outstanding (in shares) | shares 48,960,916 48,960,916 48,960,916
Nonrelated Party      
Current assets      
Accounts receivable ¥ 221,106,000 $ 30,291,000 ¥ 285,819,000
Non-current assets      
Other non-current assets – third parties 28,252,000 3,871,000 28,236,000
Current liabilities      
Accounts payable 1,617,432,000 221,587,000 1,820,680,000
Contract liabilities, current 6,357,000 871,000 621,000
Non-current liabilities      
Contract liabilities, non-current 20,000 3,000 2,000
Other non-current liabilities 98,002,000 13,426,000 48,792,000
Related Party      
Current assets      
Accounts receivable 1,373,833,000 188,214,000 1,572,703,000
Amounts due from related parties 35,367,000   74,122,000
Non-current assets      
Other non-current assets – third parties 267,260,000 36,614,000 224,349,000
Current liabilities      
Accounts payable 512,638,000 70,231,000 312,830,000
Amounts due to related parties 177,886,000   35,664,000
Contract liabilities, current 150,452,000 20,612,000 207,017,000
Operating lease liabilities, current 40,918,000 5,606,000 35,123,000
Non-current liabilities      
Contract liabilities, non-current 37,324,000 5,113,000 133,993,000
Other non-current liabilities ¥ 0 $ 0 ¥ 44,519,000