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Warrant liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Warrants and Rights Note Disclosure [Abstract]

Schedule of warrants are remeasured utilizing key assumptions

			As of December 31,
			2023			2024
Risk-free rate of return (%)			3.93		%	4.27		%
Volatility			29.50		%	50.20		%
Expected dividend yield			0.0		%	0.0		%
Expected term			4.0 years			3.0 years
Fair value of the underlying ordinary shares			US$3.16 (equivalent to RMB22.44)			US$2.11 (equivalent to RMB15.40)

Schedule of movement of ECARX warrants

The table below reflects the movement of ECARX Warrants for the years ended December 31, 2023 and 2024:

			January 1, 2023 RMB						Gain due to change in fair value RMB						Foreign currency translation adjustments RMB						December 31, 2023 RMB
Liabilities
ECARX Public Warrants			10,346						(7,349)						198						3,195
ECARX Private Warrants			6,198						(4,370)						118						1,946
Total			16,544						(11,719)						316						5,141

			January 1, 2024 RMB						Loss due to change in fair value RMB						Foreign currency translation adjustments RMB						December 31, 2024 RMB
Liabilities
ECARX Public Warrants			3,195						2,160						119						5,474
ECARX Private Warrants			1,946						1,271						73						3,290
Total			5,141						3,431						192						8,764

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.

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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.

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