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Short-term borrowings

12 Months Ended

Dec. 31, 2024

Short-Term Debt [Abstract]

Short-term borrowings

Short-term borrowings

Short-term borrowings consisted of the following:

			As of December 31,
			2023						2024
			RMB						RMB
Unsecured bank loans			1,200,000						1,360,000

As of December 31, 2023, the Group’s short-term borrowings bear an interest rate of 3.80%, 3.90% and 4.00% per annum. As of December 31, 2024, the Group’s short-term borrowings bear interest rates of 3.90% and 4.00% per annum. As of December 31, 2023 and 2024, the Group had a total line of credit in the amount of RMB1,200,000 and RMB2,000,000, of which the unused portion was nil and RMB640,000, respectively.

Short-term borrowings of RMB180,000 and nil as of December 31, 2023 and 2024, respectively, were guaranteed by Hubei ECARX, which is a related party of the Group after the Restructuring as disclosed in the Note 1(c).

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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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