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ECX on Nasdaq

ECARX Holdings Inc.

ECARX Holdings Inc. is a computer integrated systems design services company, listed on Nasdaq (ECX).1 It is headquartered in Shanghai, China.1

$0.91 down 0.02 (2.23%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

$847.9MRevenue, fiscal 20253
-$66.0MNet income, fiscal 20253

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  • TickerECX on Nasdaq1
  • IndustryServices-Computer Integrated Systems Design1
  • HeadquartersShanghai, China1
  • Business address16/F, Tower 2, China Eastern Airlines Binjiang Center, Shanghai, F4 2000304
  • Filer categoryAccelerated filer, Emerging growth company4

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On December 20, 2022, we consummated the Business Combination with COVA, pursuant to the Agreement and Plan of Merger, dated as of May 26, 2022. COVA was a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. On December 21, 2022, our Class A Ordinary Shares and Warrants were listed on The Nasdaq Global Market under the symbol “ECX” and “ECXWW,” respectively.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

19.0%Gross margin3
-6.5%Operating margin3
-7.8%Net margin3
9.9%Revenue growth, 20253
-$106.6MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue74¢$686.6M
  • Research and development13¢$123.3M
  • Selling, general and admin10¢$93.8M
  • Interest3¢$23.8M
  • Income tax0¢$1.2M

Out of $847.9M in revenue.3 The company lost money this year.

Financial statements

Revenue63$847.9M in 2025+64% since 2022
0$250.0M$500.0M$750.0M$1.0B2022: $515.7M$515.7M20222023: $662.2M$662.2M2023+28%2024: $771.5M$771.5M2024+17%2025: $847.9M$847.9M2025+10%
Gross profit63$161.3M in 2025+12% since 2022
0$50.0M$100.0M$150.0M$200.0M2022: $143.6M$143.6M20222023: $178.6M$178.6M2023+24%2024: $160.1M$160.1M2024−10%2025: $161.3M$161.3M2025+1%
Operating income63-$54.8M in 2025−74% since 2022
-$300.0M-$200.0M-$100.0M02022: -$212.6M-$212.6M20222023: -$130.0M-$130.0M2023−39%2024: -$122.9M-$122.9M2024−5%2025: -$54.8M-$54.8M2025−55%
Net income63-$66.0M in 2025−70% since 2022
-$300.0M-$200.0M-$100.0M02022: -$223.2M-$223.2M20222023: -$133.3M-$133.3M2023−40%2024: -$129.8M-$129.8M2024−3%2025: -$66.0M-$66.0M2025−49%
Fiscal year20212022202320242025
Revenue$515.7M6$662.2M3$771.5M3$847.9M3
Cost of revenue$372.1M6$483.6M3$611.4M3$686.6M3
Gross profit$143.6M6$178.6M3$160.1M3$161.3M3
Research and development$175.6M6$177.7M3$174.9M3$123.3M3
Selling, general and admin$131.7M3$108.2M3$93.8M3
Operating expenses$356.2M6$308.6M3$283.0M3$216.0M3
Operating income-$212.6M6-$130.0M3-$122.9M3-$54.8M3
Interest$7.4M6$11.2M3$18.6M3$23.8M3
Income before tax-$220.3M6-$144.4M3-$137.5M3-$67.7M3
Income tax$3.1M6-$525.0K3$210.0K3$1.2M3
Net income-$223.2M6-$133.3M3-$129.8M3-$66.0M3
Earnings per share-$1.156-$0.403-$0.393-$0.203
Earnings per share (diluted)-$1.156-$0.403-$0.393-$0.203
Shares (weighted, basic)236.7M shares7239.3M shares8337.4M shares3336.6M shares3338.7M shares3
Shares (weighted, diluted)236.7M shares7239.3M shares8337.4M shares3336.6M shares3338.7M shares3

Compare ECARX Holdings Inc. with another company

Corporate structure

ECARX Holdings Inc. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ECARX Holdings Inc.

  • Eric Li Filed SCHEDULE 13D on ECARX Holdings Inc., latest Jan 21, 2026 (2 filings since Feb 14, 2023)
  • Shine Link Venture Ltd Filed SC 13G/A on ECARX Holdings Inc., latest Feb 9, 2024 (2 filings since Feb 14, 2023)
  • Ziyu Shen Filed SC 13G/A on ECARX Holdings Inc., latest Feb 9, 2024 (2 filings since Feb 14, 2023)
  • Baidu Filed SC 13G on ECARX Holdings Inc., latest Feb 14, 2023
  • ARISTEIA CAPITAL, L.L.C. Filed SC 13G/A on ECARX Holdings Inc., latest Feb 10, 2023
  • ECARX Holdings Inc. Shanghai, China

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ECARX Holdings Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$63.1M3 Dec 31, 2025$52.4M3 Dec 31, 2024+20.3%
Accumulated depreciation$35.1M3 Dec 31, 2025$29.2M3 Dec 31, 2024+20.1%
Property and equipment, net$26.7M3 Dec 31, 2025$21.9M3 Dec 31, 2024+22.2%
Operating-lease assets (leased space)$16.8M3 Dec 31, 2025$18.2M3 Dec 31, 2024−7.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$87.1M3 Dec 31, 2025$44.2M3 Dec 31, 2024+96.9%
Debt securities available for sale$42.8M3 Dec 31, 2025
Stakes in other companies (equity method)$1.2M3 Dec 31, 2025$1.4M3 Dec 31, 2024−19.0%
Long-term investments$61.5M3 Dec 31, 2025$2.2M3 Dec 31, 2024+2742.1%
Loans, net of allowance$6.0M3 Dec 31, 2025$2.3M3 Dec 31, 2024+160.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$3.7M3 Dec 31, 2025$3.5M3 Dec 31, 2024+5.2%
Intangible assets, net (excluding goodwill)$40.4M3 Dec 31, 2025$42.2M3 Dec 31, 2024−4.3%
Finite-lived intangibles, gross$78.4M3 Dec 31, 2025$66.9M3 Dec 31, 2024+17.1%
Accumulated amortization$34.5M3 Dec 31, 2025$24.2M3 Dec 31, 2024+42.3%
Finite-lived intangibles, net$40.4M3 Dec 31, 2025$42.2M3 Dec 31, 2024−4.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$62.3M3 Dec 31, 2025$31.9M3 Dec 31, 2024+95.6%
Raw materials$40.7M3 Dec 31, 2025$24.2M3 Dec 31, 2024+68.4%
Work in process$7.0M3 Dec 31, 2025$2.5M3 Dec 31, 2024+177.3%
Finished goods$14.6M3 Dec 31, 2025$5.2M3 Dec 31, 2024+183.4%

Leadership

Who has led ECARX Holdings Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ziyu Shen2026–now

Chief financial officer

  1. Dylan Da-Long Jeng2026–now

Chief operating officer

  1. Peter Cirino2026–now
2025
Board members and other officers (6)

Timeline

  1. Mar 25, 2026New chief executive Ziyu Shen becomes CEO9

Calendar

Coming up

  1. Nov 2, 2026Reports results for the quarter ending Sep/202617

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

190 filings to the SEC since October 2021: 4 annual reports, 10 insider forms, 8 large holders, 168 other. The latest 20:

  1. Oct 15, 20266-K/A EDGAR
  2. Oct 15, 20266-K EDGAR
  3. Oct 5, 20266-K EDGAR
  4. Sep 28, 20266-K EDGAR
  5. Sep 2, 20266-K EDGAR
  6. Aug 11, 20266-K EDGAR
  7. Jul 31, 20266-K EDGAR
  8. Jul 17, 20266-K EDGAR
  9. Jul 17, 20266-K EDGAR
  10. Jul 8, 20266-K EDGAR
  11. Jul 1, 20266-K EDGAR
  12. Jun 22, 20266-K EDGAR
  13. Jun 1, 20266-K EDGAR
  14. May 19, 20266-K EDGAR
  15. May 19, 20266-K EDGAR
  16. Apr 16, 20266-K EDGAR
  17. Apr 8, 20266-K EDGAR
  18. Mar 30, 202620-F EDGAR
  19. Mar 25, 20263 OWNERSHIP DOCUMENT EDGAR
  20. Mar 25, 20263 OWNERSHIP DOCUMENT EDGAR

The 190 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 0 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 27, 2023Heng Jun HongDirectorSale2,743$3.24$8.9KForm 4
Sep 26, 2023Heng Jun HongDirectorSale47,257$3.32$156.9KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How ECARX Holdings Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARECARX Holdings Inc.1
  • CIK0001861974
  • Filer statusAccelerated filer an emerging growth company; not a shell company5
  • Incorporated inCayman Islands5
  • Industry code (SIC)7373 Services-Computer Integrated Systems Design1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address16/F, Tower 2, China Eastern Airlines Binjiang Center, Shanghai, F4 2000301
  • Phone0571 853067571
  • Shares outstanding310,505,777 Common Class A shares; 45,960,916 Common Class B shares as of Dec 31, 20255
  • AuditorKPMG Huazhen LLP, Shanghai, China PCAOB ID 1186; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMay 26, 20221
  • Filings190 in all: 6-K (73), 425 (20), 424B3 (14), CORRESP (13), UPLOAD (11), 3 (9), EFFECT (6), 144 (4)1
    All 29 form types

    20-F (4), DRSLTR (4), SC 13G (4), 424B5 (3), SC 13G/A (3), 6-K/A (2), DRS (2), DRS/A (2), F-3 (2), F-4/A (2), POS AM (2), 305B2 (1), 4 (1), 8-A12B (1), CERT (1), F-1 (1), F-1/A (1), F-3/A (1), F-4 (1), S-8 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (20-F) Mar 30, 2026

Securities registered for trading

ClassSymbolExchange
Class A ordinary shares, par value $0.000005 per shareECXNasdaq
WarrantsECXWWNasdaq

From the cover page of the 20-F filed Mar 30, 2026 (Section 12(b) of the Exchange Act).5

Sources

The numbers on this page point here. Each one links to the record it came from.

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