ECARX Holdings Inc. Class A Ordinary shares (ECX) financial statements
ECARX Holdings Inc. Class A Ordinary shares reported revenue of 5.6B CNY in fiscal 2024, up 25.5% a year over 4 years.
Net income was -932M CNY and the operating margin -15.9%, against -19.2% in 2020.
Free cash flow was -545M CNY.
The diluted share count rose 41% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions (CNY).
Income statement
Fiscal years, in CNY, from ECARX Holdings Inc. Class A Ordinary shares's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | 2.2B CNY | 2.8B CNY | 3.6B CNY | 4.7B CNY | 5.6B CNY |
| Cost of revenue | 1.7B CNY | 2.0B CNY | 2.6B CNY | 3.4B CNY | 4.4B CNY |
| Gross profit | 551M CNY | 817M CNY | 994M CNY | 1.3B CNY | 1.2B CNY |
| Research and development | 706M CNY | 1.2B CNY | 1.3B CNY | 1.3B CNY | 1.3B CNY |
| Selling, general and admin | 276M CNY | 608M CNY | 1.3B CNY | 931M CNY | 777M CNY |
| Operating income | -430M CNY | -1.0B CNY | -1.6B CNY | -918M CNY | -882M CNY |
| Interest expense | 59M CNY | 132M CNY | 45M CNY | 79M CNY | 134M CNY |
| Pre-tax income | -440M CNY | -1.2B CNY | -1.6B CNY | -1.0B CNY | -988M CNY |
| Income tax | 228,000 CNY | 7M CNY | 29M CNY | -4M CNY | 1M CNY |
| Net income | -440M CNY | -1.2B CNY | -1.6B CNY | -941M CNY | -932M CNY |
| EPS (diluted) | -2.27 CNY | -5.99 CNY | -8.02 CNY | -2.79 CNY | -2.77 CNY |
| Diluted shares | 239M | 237M | 239M | 337M | 337M |
| Gross margin | 24.6% | 29.4% | 27.9% | 27.1% | 20.8% |
| Operating margin | -19.2% | -36.0% | -45.7% | -19.5% | -15.9% |
| Net margin | -19.6% | -42.2% | -43.9% | -20.0% | -16.8% |
Balance sheet
Fiscal years, in CNY, from ECARX Holdings Inc. Class A Ordinary shares's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Cash and short-term investments | 1.0B CNY | 878M CNY | 860M CNY | 572M CNY | 324M CNY |
| Receivables | — | 185M CNY | 418M CNY | — | — |
| Inventory | — | 223M CNY | 183M CNY | 161M CNY | 234M CNY |
| Total current assets | — | 2.5B CNY | 3.9B CNY | 3.3B CNY | 2.8B CNY |
| Property, plant and equipment | — | 103M CNY | 140M CNY | 121M CNY | 160M CNY |
| Goodwill | — | — | — | 0 CNY | 26M CNY |
| Total assets | — | 4.0B CNY | 4.7B CNY | 4.3B CNY | 3.8B CNY |
| Total current liabilities | — | 3.0B CNY | 3.9B CNY | 4.3B CNY | 5.1B CNY |
| Total liabilities | — | 3.5B CNY | 4.8B CNY | 5.1B CNY | 5.5B CNY |
| Shareholders' equity | -2.1B CNY | -4.1B CNY | -196M CNY | -919M CNY | -1.8B CNY |
| Net debt | -1.0B CNY | -878M CNY | -860M CNY | -572M CNY | -324M CNY |
Cash flow
Fiscal years, in CNY, from ECARX Holdings Inc. Class A Ordinary shares's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Operating cash flow | -368M CNY | -907M CNY | -461M CNY | -1.2B CNY | -430M CNY |
| Capital spending | 69M CNY | 86M CNY | 157M CNY | 62M CNY | 115M CNY |
| Free cash flow | -437M CNY | -993M CNY | -619M CNY | -1.3B CNY | -545M CNY |
| Stock-based compensation | 11M CNY | 180M CNY | 726M CNY | 174M CNY | 137M CNY |
| Free cash flow margin | -19.5% | -35.7% | -17.4% | -27.6% | -9.8% |
Questions
What was ECARX Holdings Inc. Class A Ordinary shares's revenue in 2024?
5.6B CNY in fiscal 2024, from its 10-K filing.
How much free cash flow does ECARX Holdings Inc. Class A Ordinary shares generate?
-545M CNY in fiscal 2024 (operating cash flow minus capital spending).
From ECARX Holdings Inc. Class A Ordinary shares's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.