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MARKETS / NASDAQ / ECX
NASDAQ · SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN · MID CAP

Ecarx Holdings Inc. ECX

6 fiscal years on record · CNY · FY2025 reported · SEC filings only
$847.9M
▲ 9.9% YoY
$-66.0M
CNY -106.6M
In brief

What this company does

The company develops full-stack technology solutions for software-defined vehicles. Its business is focused on three product lines: Intelligent Cockpit Platforms, Intelligent Driving Platforms, and Fusion Platforms (Vehicle Central Computing). As of December 31, 2025, there were over 11 million vehicles on the road with its products and solutions onboard. As of December 31, 2025, it had a team of over 1,400 based in 13 major locations in China, UK, USA, Singapore, Malaysia, Sweden and Germany, with approximately 70% involved in research and development. Its Intelligent Cockpit Platforms product line offers a cockpit portfolio ranging from entry-level solutions to flagship platforms. Its Intelligent Driving Platforms product line offers ADAS solutions covering parking assistance systems, smart camera solutions and ADAS domain controllers, with functionality ranging from active safety to L2 / L2+ / L2++.

Written from the business description in ECARX Holdings Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 30 March 2026. Every sentence was checked against that document before publication.

Growth
USD 847.9M
Revenue, FY2025 · full 6-year series below
Revenue CNY B Net income CNY B
FY2022 · Revenue 3.6 · Net income -1.6
2.0B-0.8B202020212022202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−8 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -6.5% · Net -8.1%
-20%-40%202020212022202320242025
ROE

No chart to show — the reason differs by year; see each year in the table below.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2025 · FCF -106.6
-400M-800M202020212022202320242025

Total assetsUSD 662.4M
EquityUSD -282.7M
CashUSD 87.1M
Gross debtUSD 310.7M
Net debtUSD 223.5M
Current ratio0.59×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue CNY B···3.62.82.2
Operating income CNY B···−1.6−1.0−0.4
EBITDA CNY B−0.0−0.1−0.1−1.6−0.9−0.4
Income tax CNY B···0.00.00.0
Net income CNY B···−1.6−1.2−0.4
Free cash flow CNY B−0.1−0.1−0.2−0.6−1.0−0.4
EPS, diluted CNY ···−8.02−5.99−2.27
Dividend / sh CNY ······
Payout %······
ROE %······

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 4 failures in 28 reconciliationsAUDITED

Reconciled in 2 of 19 fiscal years. 67 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente4 failures
ActivityServices-Computer Integrated Systems Design
Listed onNASDAQ
Incorporated innot stated in the filings
Fiscal year endsnot stated in the filings
SEC categoryemerging growth company
Data on record since2020

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