{"id":750186,"date":"2023-04-24T07:11:10","date_gmt":"2023-04-24T11:11:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/"},"modified":"2023-04-24T07:11:10","modified_gmt":"2023-04-24T11:11:10","slug":"ecarx-announces-fourth-quarter-and-full-year-2022-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/","title":{"rendered":"ECARX Announces Fourth Quarter and Full Year 2022 Financial Results"},"content":{"rendered":"<div class=\"mw_release\">\n<ul type=\"disc\">\n<li>FY 2022 revenue up 28% YoY to $515.7 million; Q4 2022 revenue up 44% YoY to $221.4 million at constant currency<\/li>\n<li>FY 2022 gross profit up 21% YoY to $143.6 million; Q4 2022 gross profit up 30% YoY to $62.0 million at constant currency<\/li>\n<li>Expect revenue growth of approximately 38% YoY for FY 2023; adjusted EBITDA breakeven by end of FY 2024<\/li>\n<\/ul>\n<p>LONDON, April  24, 2023  (GLOBE NEWSWIRE) &#8212; ECARX\u00a0Holdings, Inc. (Nasdaq: ECX) (&#8220;ECARX&#8221;), a global mobility tech provider, today reported financial results for the quarter and full year ended December 31, 2022. The company also provided financial guidance for the full year 2023 expecting continued strong growth. \u00a0<\/p>\n<p>\u201cOur unique go-to-market strategy and R&amp;D engine enable us to be well positioned to capture the massive growth opportunity from the revolution towards more connected, autonomous, and electrified vehicles,\u201d said Ziyu Shen, co-founder, Chairman and CEO of ECARX. \u201cContinued technological advancements are driving OEMs to develop next-generation, software-defined vehicles, and our vertically-integrated, full-stack automotive computing platform will help transform these vehicles in ways that have never been imagined. Our strong financial results in 2022 demonstrate our solid operating execution, the strength of our product portfolio, and the growing demand for our solutions from customers around the world. This momentum, and our recent listing on Nasdaq, will support our plans to deliver on our robust product pipeline, advance strategic partnerships and accelerate international growth.\u201d<\/p>\n<p>\n        <strong>Fourth Quarter 2022 Financial Highlights (growth rates at constant currency):<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Total revenue of $221.4 million, up 44% year over year\n<ul type=\"circle\">\n<li>Sales of goods revenues of $151.4 million, up 43% year over year, primarily driven by higher average sales prices and higher volumes from the launch of new products<\/li>\n<li>Software license revenues of $35.8 million, up 263% year over year, driven by increased volume and favorable pricing<\/li>\n<li>Service revenues of $34.2 million, down 10% year over year, primarily due to the impact of the COVID-19 pandemic on customer operations, delaying certain projects<\/li>\n<\/ul>\n<\/li>\n<li>Gross profit of $62.0 million, up 30% year over year, primarily driven by the launch of new products and favorable product mix<\/li>\n<li>Net loss of $107.3 million, up from $36.6 million for the same period last year, largely driven by higher research and development and share-based compensation expenses as the company continues to execute on its robust product roadmap<\/li>\n<li>Adjusted EBITDA (non-GAAP) loss of $30.2 million, primarily driven by strong demand from our OEM and Tier 1 customers combined with inflationary headwinds that were offset by pricing recoveries<\/li>\n<\/ul>\n<p>\n        <strong>Full-Year 2022 Financial Highlights (growth rates at constant currency): \u00a0<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Total revenue of $515.7 million, up 28% year over year\n<ul type=\"circle\">\n<li>Sales of goods revenues of $352.9 million, up 23% year over year, primarily driven by higher average selling prices, as well as higher volumes due to the launch of new products<\/li>\n<li>Software license revenues of $58.6 million, up 55% year over year, driven by increased volume and favorable pricing<\/li>\n<li>Service revenues of $104.2 million, up 35% year over year, driven by increased demand for technical consulting services from OEM customers and Tier 1 partners<\/li>\n<\/ul>\n<\/li>\n<li>Gross profit of $143.6 million, up 21% year over year, primarily driven by the launch of new products and improved mix from higher service revenues<\/li>\n<li>Net loss of $223.5 million, up from $177.0 million in 2021, largely driven by share-based compensation expenses as the company continues to execute on its robust product roadmap<\/li>\n<li>Adjusted EBITDA (non-GAAP) loss of $99.7 million, down from $122.0 million in 2021<\/li>\n<li>As of December 31, 2022, ECARX had $112.8 million in cash (including $5.9 million in restricted cash), a decrease of $17.8 million from December 31, 2021 primarily due to investments in research and development to support the launch of new products.<\/li>\n<\/ul>\n<p>\n        <strong>Financial Outlook<\/strong><br \/>\n        <br \/>The Company\u2019s financial outlook is as follows:<\/p>\n<table style=\"border-collapse: collapse;width:60%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:58%;width:58%;min-width:58%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">$mn<\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2023<\/strong>\n          <\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>YoY Change<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Total Revenue<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$700-720<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">$515.7<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">36-40%<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;vertical-align: top\">Adjusted EBITDA (non-GAAP)<\/td>\n<td colspan=\"3\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">Breakeven by end of 2024<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Conference Call &amp; Webcast Details:<\/strong>\n      <\/p>\n<p>ECARX will host a webcast of its earnings conference call today, Monday, April 24, 2023, at 8:00 a.m. EDT. To access the webcast, visit the Events &amp; Presentations section of the ECARX Investor Relations site, or visit the following link \u2013 <strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FZFwptz7bwozBcrbHsXtk-n3r75IeliF7n-lHyog7IqTq-WP7FByETMUd1UM-Vg6Iqwv7Zzm5QDvQ3gRscovFsyo3p2TcNSmdWf-U7TGG_KZSvfcXrgLcD5buLpOxMW81KbAtUFJYEDWMY1LNf-dbw==\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/edge.media-server.com\/mmc\/p\/e9potpvf<\/u><\/a><\/strong>.<\/p>\n<p>To join the earnings call by telephone, participants must pre-register at <strong><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FZFwptz7bwozBcrbHsXtk6On3mkSXVoabaEJyACtS8ERxGVjL577c5L7aaewPA8DHrz7aKXnzA2tZtgSEJnYPJul0E5zrTFBf0wY6CRciUTFfZdZuqVoep5GHtsgx-RhagNvrr1ntE-KHDN-SGW5OZxsS6Ho8HCaxGjzBRZ-b1axDfsaXDJDu9-fPTBi1ukfZDRyYu4GjiWxA5IABiZiYn9PnoQ9gdjBNfxwlOaOu0g=\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/register.vevent.com\/register\/BI5ea09a1b8c62418781fdbdc570ff96a2<\/u><\/a><\/strong> to receive dial-in information.\u00a0<\/p>\n<p>A replay of the webcast and presentation materials will be available on the company\u2019s Investor Relations website under the <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kdYlIzDiSxo9kMTUMTQJkZtxWhiwhR4e6g5Q1wN1_W2lSiJh3C_ZAKinz6DvHUaHHmjoPV3dfZhfcefNtMSU6FnMLG4qNJC5yIo68W0SLEeTqk0z4ik5-KabonEDpqq54YgUuyhcpaew1xI0P0pgCg==\" rel=\"nofollow noopener\" target=\"_blank\"><u>presentations<\/u><\/a> section following the event.<\/p>\n<p>In addition, the company will host its inaugural Investor Day on Tuesday, May 9, 2023 from New York City. Beginning at 7:30 a.m. EDT, the event will feature presentations by the company\u2019s executive team, including Chairman and CEO Ziyu Shen, COO Peter Cirino, and CFO Ramesh Narasimhan among others. The focus of the presentations will be on ECARX\u2019s strategic vision, technology development, and financial targets.<\/p>\n<p>\n        <strong>About ECARX<\/strong>\n      <\/p>\n<p>ECARX (Nasdaq: ECX) is a global mobility-tech provider partnering with OEMs to reshape the automotive landscape as the industry transitions to an all-electric future. As OEMs develop new vehicle platforms from the ground up, ECARX is developing a full-stack solution \u2013 central computer, System-on-a-Chip (SoCs) and software to help continuously improve the in-car user experience. The company\u2019s products have been integrated into more than 4.7 million cars worldwide, and it continues to shape the interaction between people and vehicles by rapidly advancing the technology at the heart of smart mobility.\u00a0<\/p>\n<p>ECARX was founded in 2017 and today we have around 1,500 team members. The co-founders are two automotive entrepreneurs, Chairman and CEO Ziyu Shen, and Eric Li (Li Shufu), who is also the founder and chairman of Zhejiang Geely Holding Group \u2013 one of the largest automotive groups in the world, with ownership interests in international brand OEMs including Lotus, Lynk &amp; Co, Polestar, smart and Volvo Cars.<\/p>\n<p>\n        <strong>Forward-Looking Statements <\/strong><br \/>\n        <br \/>This release contains statements that are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management\u2019s beliefs and expectations as well as on assumptions made by and data currently available to management, appear in a number of places throughout this document and include statements regarding, amongst other things, results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate. The use of words \u201cexpects,\u201d \u201cintends,\u201d \u201canticipates,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d \u201cbelieves,\u201d \u201cshould,\u201d \u201cpotential,\u201c \u201cmay,\u201d \u201cpreliminary,\u201d \u201cforecast,\u201d \u201cobjective,\u201d \u201cplan,\u201d or \u201ctarget,\u201d and other similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to statements regarding our intentions, beliefs or current expectations concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the capital and credit markets and expected future financial performance, and the markets in which we operate.<\/p>\n<p>For a discussion of these and other risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statement, see ECARX\u2019s filings with the U.S. Securities and Exchange Commission. ECARX undertakes no obligation to update or revise and forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law.<\/p>\n<p>\n        <strong>Translation of results into U.S. dollars<\/strong><br \/>\n        <br \/>This announcement contains translations of certain Renminbi (RMB) amounts into U.S dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB6.8972 to US$1.00, the noon buying rate in effect on December 30, 2022 as set forth in the H.10 Statistical Release of The Board of Governors of the Federal Reserve System. We make no representation that any Renminbi or U.S. dollar amounts could have been, or could be, converted into U.S. dollars or Renminbi, as the case may be, at any particular rate, or at all.<\/p>\n<p>\n        <strong>Non-GAAP Financial Measure<\/strong><br \/>\n        <br \/>The Company uses adjusted EBITDA (non-GAAP) in evaluating its operating results and for financial and operational decision-making purposes. Adjusted EBITDA (non-GAAP) is defined as net loss excluding interest income, interest expense, income tax expenses, depreciation of property and equipment, amortization of intangible assets, and share-based compensation expenses. The Company provides revenue growth rates at constant currency, which exclude the impact of foreign currency translation, in order to facilitate a comparison of its current revenue performance to its past revenue performance.<\/p>\n<p>The Company presents the non-GAAP financial measure because it is used by the management to evaluate the Company\u2019s operating performance and formulate business plans. The Company believes that the non-GAAP measure helps identify underlying trends in its business that could otherwise be distorted by the effects of foreign currency translation and certain expenses that are included in net loss. The Company also believes that the use of the non-GAAP measure facilitates investors\u2019 assessment of its operating performance. To calculate revenue growth rates in constant currency, the Company converts actual net sales from local currency to U.S. dollars using constant foreign currency exchange rates in the current and prior period.<\/p>\n<p>Adjusted EBITDA (non-GAAP) should not be considered in isolation or construed as alternatives to net loss or any other measures of performance or as indicators of the Company\u2019s operating performance. Investors are encouraged to compare the Company\u2019s historical adjusted EBITDA (non-GAAP) to the most directly comparable GAAP measure, net loss. Adjusted EBITDA (non-GAAP) presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company\u2019s data. The Company encourages investors and others to review the financial information in its entirety and not rely on a single financial measure.<\/p>\n<p>For more information on the non-GAAP financial measure, please see the table captioned \u201cUnaudited Reconciliation of GAAP and Non-GAAP Results\u201d set forth at the end of this press release.<\/p>\n<p>\n        <strong>Investor Contacts:<\/strong><br \/>\n        <br \/>Adam Kay, +44 (0)7796 954086, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=M93Dl7SbdWWpdE2pFSFZpAhd1bLh8UuMx8wn8B_82a6EG0yFMu8uSFGUA629uHx2vKPv_3a8HtJc_M5imySFfhDLoRirRGIydZabxmrxgqE=\" rel=\"nofollow noopener\" target=\"_blank\"><u>ir@ecarxgroup.com<\/u><\/a><\/p>\n<p><strong>Media Contacts:<\/strong><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=5k6BFrxoPATTUTzzJMVA7p2ROZj2Rys_Z31oxU7kZl6eQpeoD81cL6iBH_4niCOW-f4mE6JtcSDckO_nfmPsUd0AmwyJmB_IYgEl6bvwMPY=\" rel=\"nofollow noopener\" target=\"_blank\"><u>ECARX-Media@teneo.com<\/u><\/a><\/p>\n<p align=\"center\">ECARX Holdings Inc.<br \/>Condensed Balance Sheets<\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:80%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>As of December 31<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;vertical-align: top\">Millions, otherwise noted<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>ASSETS<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Current assets<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Cash<\/td>\n<td style=\"text-align: right;vertical-align: middle\">878.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">737.4<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>106.9<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Restricted cash<\/td>\n<td style=\"text-align: right;vertical-align: middle\">23.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">41.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>5.9<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Accounts receivable \u2013 third parties, net<\/td>\n<td style=\"text-align: right;vertical-align: middle\">184.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">418.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>60.6<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Account receivable \u2013 related parties, net<\/td>\n<td style=\"text-align: right;vertical-align: middle\">768.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">483.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>70.0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Notes receivable<\/td>\n<td style=\"text-align: right;vertical-align: middle\">137.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">145.4<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>21.1<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Inventories<\/td>\n<td style=\"text-align: right;vertical-align: middle\">223.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">131.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>19.1<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Amounts due from related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">41.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">911.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>132.2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Prepayments and other current assets<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">200.1<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">412.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>59.9<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total current assets<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,456.7<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,281.2<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>475.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Non-current assets<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Long-term investments<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,354.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">489.8<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>71.0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Property and equipment, net<\/td>\n<td style=\"text-align: right;vertical-align: middle\">103.2<\/td>\n<td style=\"text-align: right;vertical-align: middle\">118.4<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>17.2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Intangible assets, net<\/td>\n<td style=\"text-align: right;vertical-align: middle\">31.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">36.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>5.3<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Operating lease right-of-use assets<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">85.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>12.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Other non-current assets \u2013 third parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">19.9<\/td>\n<td style=\"text-align: right;vertical-align: middle\">26.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>3.8<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Other non-current assets \u2013 related parties<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">213.7<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>31.0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total non-current assets<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,510.0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">969.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>140.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total assets <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">3,966.7<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">4,251.1<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>616.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>LIABILITIES<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Current liabilities<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Short-term borrowings<\/td>\n<td style=\"text-align: right;vertical-align: middle\">932.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">870.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>126.1<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Accounts payable &#8211; third parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">650.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,024.2<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>148.5<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Accounts payable &#8211; related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">111.5<\/td>\n<td style=\"text-align: right;vertical-align: middle\">239.9<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>34.8<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Notes payable<\/td>\n<td style=\"text-align: right;vertical-align: middle\">127.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">168.4<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>24.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Amounts due to related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">376.9<\/td>\n<td style=\"text-align: right;vertical-align: middle\">191.2<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>27.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Contract liabilities, current &#8211; third parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">2.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">4.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>0.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Contract liabilities, current &#8211; related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">363.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">316.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>45.9<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Operating lease liabilities, current<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">24.2<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>3.5<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Accrued expenses and other current liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle\">459.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">738.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>107.1<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Income tax payable<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">21.6<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>3.1<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total current liabilities<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,022.7<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,599.5<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>521.8<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Non-current liabilities<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Contract liabilities, non-current &#8211; third parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.1<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>0.0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Contract liabilities, non-current &#8211; related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">472.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">282.1<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>40.9<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Convertible notes payable<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">439.9<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>63.8<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Operating lease liabilities, non-current<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">59.5<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>8.6<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Warrant liabilities, non-current<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16.5<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>2.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Other non-current liabilities<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">16.3<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">30.7<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>4.5<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total non-current liabilities<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">489.3<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">828.8<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>120.2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total liabilities<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">3,512.0<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">4,428.3<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>642.0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Commitments and contingencies<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">ECARX Holdings Inc.<br \/>Condensed Balance Sheets (continued)<\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:80%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>As of December 31<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;vertical-align: top\">Millions, otherwise noted<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>MEZZANINE EQUITY<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Series Angel Redeemable Convertible Preferred Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">283.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Series A Redeemable Convertible Preferred Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,429.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Series A+ Redeemable Convertible Preferred Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,386.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Series A++ Redeemable Convertible Preferred Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">475.4<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Series B Redeemable Convertible Preferred Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,117.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Subscription receivable from a Series B Redeemable Convertible Preferred Shareholder<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(159.4)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Redeemable non-controlling interests<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">30.5<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total mezzanine equity<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">4,563.4<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>SHAREHOLDERS&#8217; DEFICIT<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Ordinary Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Class A Ordinary Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Class B Ordinary Shares<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Treasury Shares, at cost<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Additional paid-in capital<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">5,919.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>858.3<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Accumulated deficit<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(4,109.0)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(5,711.0)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(828.0)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Accumulated other comprehensive income\/(loss)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">6.0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(385.9)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(56.0)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total deficit attributable to ordinary shareholders <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(4,103.0)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(177.2)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(25.6)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Non-redeemable non-controlling interests<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(5.7)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total shareholders&#8217; deficit<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(4,108.7)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(177.2)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(25.6)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Liabilities, mezzanine equity and shareholders&#8217; deficit<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">3,966.7<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">4,251.1<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>616.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">ECARX Holdings Inc.<br \/>Condensed Consolidated Statement of Operations<\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:80%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Year Ended<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>\u00a0December 31<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Three Months Ended <br \/> December 31<\/strong><br \/>\n            <br \/>\n            <strong>(Unaudited)<\/strong><\/p>\n<p>            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:34%;width:34%;min-width:34%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Millions, otherwise noted<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Revenues<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Sales of goods revenue<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,983.8<\/td>\n<td style=\"text-align: right;vertical-align: middle\">2,434.2<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>352.9<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">730.1<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1,043.9<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>151.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Software license revenues<\/td>\n<td style=\"text-align: right;vertical-align: middle\">261.3<\/td>\n<td style=\"text-align: right;vertical-align: middle\">404.5<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>58.6<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">67.9<\/td>\n<td style=\"text-align: right;vertical-align: middle\">246.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>35.8<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Service revenues<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">534.0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">718.4<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>104.2<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">261.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">236.2<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>34.2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total revenues<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">2,779.1<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">3,557.1<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>515.7<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,059.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1,526.7<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>221.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Cost of goods sold<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,749.2)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,971.1)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(285.7)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(668.3)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(873.8)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(126.7)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Cost of software licenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(32.2)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(126.8)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(18.4)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(10.8)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(63.1)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(9.1)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Cost of services<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(180.5)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(468.7)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(68.0)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(53.1)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(162.3)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(23.5)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total cost of revenues<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,961.9)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,566.6)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(372.1)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(732.2)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,099.2)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(159.4)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Gross profit<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">817.2<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">990.5<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>143.6<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">327.6<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">427.6<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>62.0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Research and development expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,209.4)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,210.9)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(175.6)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(372.3)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(464.3)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(67.3)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Selling and marketing expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(82.8)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(86.6)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(12.6)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(30.2)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(33.5)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(4.9)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>General and administrative expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(506.9)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,180.2)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(171.1)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(171.5)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(613.4)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(88.9)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Other income \u2013 related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">22.8<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>3.3<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">22.8<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>3.3<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Others, net<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">0.2<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1.9)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(0.3)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(0.2)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(0.1)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(0.0)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total operating expenses<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,798.9)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(2,456.8)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(356.2)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(574.2)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,088.5)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(157.8)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Loss from operation<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(981.7)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(1,466.3)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(212.6)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(246.5)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(660.9)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(95.8)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Interest income<\/td>\n<td style=\"text-align: right;vertical-align: middle\">11.8<\/td>\n<td style=\"text-align: right;vertical-align: middle\">12.4<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>1.8<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">2.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">4.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>0.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Interest expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(131.7)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(51.1)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(7.4)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1.2)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(17.5)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(2.5)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Loss from equity method investments<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(2.5)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(137.4)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(19.9)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(5.1)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(52.7)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(7.6)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Change in fair value of an equity security<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(16.8)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(2.4)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(52.6)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(7.6)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Gains on sales of an equity security<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">59.7<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>8.7<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">59.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>8.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Gains on deconsolidation of a subsidiary<\/td>\n<td style=\"text-align: right;vertical-align: middle\">10.6<\/td>\n<td style=\"text-align: right;vertical-align: middle\">72.0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>10.4<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Change in fair value of warrant liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(111.3)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(3.2)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(0.5)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(3.2)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(0.5)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Government grants<\/td>\n<td style=\"text-align: right;vertical-align: middle\">4.5<\/td>\n<td style=\"text-align: right;vertical-align: middle\">29.3<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>4.2<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1.1<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>0.2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Unrealized exchange {gains}\/losses<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">18.3<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(18.2)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(2.6)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5.2<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">1.7<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>0.2<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Loss before income taxes<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,182.0)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,519.6)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(220.3)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(244.8)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(719.8)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(104.4)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Income tax expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(3.4)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(21.6)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(3.1)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(0.1)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(20.0)<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(2.9)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Net loss<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(1,185.4)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(1,541.2)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(223.5)<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(244.9)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(739.8)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(107.3)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Other comprehensive loss:<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Foreign currency translation adjustments, net of nil income taxes<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4.6<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">(391.9)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(56.8)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">33.7<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">97.2<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>14.1<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Comprehensive loss<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(1,180.8)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(1,933.1)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(280.3)<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(211.2)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(642.6)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(93.2)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Less: Comprehensive loss attributable to non-controlling interests<\/td>\n<td style=\"text-align: right;vertical-align: middle\">5.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">1.4<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>0.2<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">4.4<\/td>\n<td style=\"text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Less: Comprehensive loss attributable to redeemable non-controlling interests<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">0.5<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>0.1<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Comprehensive loss attributable to ECARX Holdings Inc.<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(1,175.0)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(1,931.2)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(280.0)<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(206.0)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(642.6)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(93.2)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">ECARX Holdings Inc.<br \/>Condensed Consolidated Statement of Operations (continued)<\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:80%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Year Ended<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>\u00a0December 31<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Three Months Ended <br \/> December 31<\/strong><br \/>\n            <br \/>\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:34%;width:34%;min-width:34%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Loss per ordinary share<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u2013 Basic and diluted loss per share, ordinary shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(6.02)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(7.92)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1.15)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1.86)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.27)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Weighted average number of ordinary shares used in computing loss per ordinary share<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u2013 Weighted average number of ordinary shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">236,691,093<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">239,296,386<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>239,296,386<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">248,341,808<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>248,341,808<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">ECARX Holdings Inc.<br \/>Unaudited Reconciliation of GAAP and Non-GAAP Results<\/p>\n<p>\n        <strong>Adjusted EBITDA<\/strong><br \/>\n        <br \/>We use adjusted EBITDA in evaluating our operating results and for financial and operational decision-making purposes. Adjusted EBITDA is defined as net loss excluding interest income, interest expense, income tax expenses, depreciation of property and equipment, amortization of intangible assets, and share-based compensation expenses.<\/p>\n<p>Adjusted EBITDA should not be considered in isolation or construed as alternatives to net loss or any other measures of performance or as indicators of our operating performance. Investors are encouraged to compare our historical adjusted EBITDA to the most directly comparable GAAP measure, net loss. Adjusted EBITDA presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.<\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:70%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Year Ended<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>\u00a0December 31<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong><br \/>\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Three Months Ended <br \/> December 31<\/strong><br \/>\n            <br \/>\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:34%;width:34%;min-width:34%;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2021<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">2022<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2022<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Millions, otherwise noted<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"border-right: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">RMB<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"border-right: solid black 1pt;vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Net Loss<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,185.4)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,541.2)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(223.5)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(244.9)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(739.8)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(107.3)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0 Interest income<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(11.8)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(12.4)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(1.8)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(2.5)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(4.5)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>0.7<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0 Interest expense<\/td>\n<td style=\"text-align: right;vertical-align: middle\">131.7<\/td>\n<td style=\"text-align: right;vertical-align: middle\">51.1<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>7.4<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">1.2<\/td>\n<td style=\"text-align: right;vertical-align: middle\">17.5<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>2.5<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0 Income tax expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle\">3.4<\/td>\n<td style=\"text-align: right;vertical-align: middle\">21.6<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>3.1<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">0.1<\/td>\n<td style=\"text-align: right;vertical-align: middle\">20.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>2.9<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0 Depreciation of property and equipment<\/td>\n<td style=\"text-align: right;vertical-align: middle\">43.1<\/td>\n<td style=\"text-align: right;vertical-align: middle\">45.1<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>6.5<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">10.9<\/td>\n<td style=\"text-align: right;vertical-align: middle\">16.0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>2.3<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0 Amortization of intangible assets<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">21.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">22.6<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>3.3<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">5.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">4.0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>0.6<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>EBITDA<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(997.1)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(1,413.3)<\/td>\n<td style=\"border-right: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>(204.9)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">(229.3)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">(686.9)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\n            <strong>(99.6)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0 Share-based compensation expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">179.9<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">725.7<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>105.2<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">78.3<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">478.5<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle\">\n            <strong>69.4<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(817.2)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(687.6)<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(99.7)<\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(151.0)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">(208.4)<\/td>\n<td style=\"border-bottom: double 15px 3pt;text-align: right;vertical-align: middle\">\n            <strong>(30.2)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>SOURCE ECARX Holdings, Inc.<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDgwNTcxNiM0MDE1MzA5MjkjMjI1NjcxNQ==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/ZjY1MDQ2ZWEtYTA3MC00NzM4LTk5ZTYtODBkMDdlYTU4ZGYwLTEyNjgyNjQ=\/tiny\/ECARX-LIMITED.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FY 2022 revenue up 28% YoY to $515.7 million; Q4 2022 revenue up 44% YoY to $221.4 million at constant currency FY 2022 gross profit up 21% YoY to $143.6 million; Q4 2022 gross profit up 30% YoY to $62.0 million at constant currency Expect revenue growth of approximately 38% YoY for FY 2023; adjusted EBITDA breakeven by end of FY 2024 LONDON, April 24, 2023 (GLOBE NEWSWIRE) &#8212; ECARX\u00a0Holdings, Inc. (Nasdaq: ECX) (&#8220;ECARX&#8221;), a global mobility tech provider, today reported financial results for the quarter and full year ended December 31, 2022. The company also provided financial guidance for the full year 2023 expecting continued strong growth. \u00a0 \u201cOur unique go-to-market strategy and R&amp;D engine enable us to be &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ECARX Announces Fourth Quarter and Full Year 2022 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-750186","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ECARX Announces Fourth Quarter and Full Year 2022 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECARX Announces Fourth Quarter and Full Year 2022 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FY 2022 revenue up 28% YoY to $515.7 million; Q4 2022 revenue up 44% YoY to $221.4 million at constant currency FY 2022 gross profit up 21% YoY to $143.6 million; Q4 2022 gross profit up 30% YoY to $62.0 million at constant currency Expect revenue growth of approximately 38% YoY for FY 2023; adjusted EBITDA breakeven by end of FY 2024 LONDON, April 24, 2023 (GLOBE NEWSWIRE) &#8212; ECARX\u00a0Holdings, Inc. (Nasdaq: ECX) (&#8220;ECARX&#8221;), a global mobility tech provider, today reported financial results for the quarter and full year ended December 31, 2022. The company also provided financial guidance for the full year 2023 expecting continued strong growth. \u00a0 \u201cOur unique go-to-market strategy and R&amp;D engine enable us to be &hellip; Continue reading &quot;ECARX Announces Fourth Quarter and Full Year 2022 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-24T11:11:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDgwNTcxNiM0MDE1MzA5MjkjMjI1NjcxNQ==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"ECARX Announces Fourth Quarter and Full Year 2022 Financial Results\",\"datePublished\":\"2023-04-24T11:11:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\\\/\"},\"wordCount\":2364,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDgwNTcxNiM0MDE1MzA5MjkjMjI1NjcxNQ==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\\\/\",\"name\":\"ECARX Announces Fourth Quarter and Full Year 2022 Financial Results - 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(Nasdaq: ECX) (&#8220;ECARX&#8221;), a global mobility tech provider, today reported financial results for the quarter and full year ended December 31, 2022. The company also provided financial guidance for the full year 2023 expecting continued strong growth. \u00a0 \u201cOur unique go-to-market strategy and R&amp;D engine enable us to be &hellip; Continue reading \"ECARX Announces Fourth Quarter and Full Year 2022 Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-24T11:11:10+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDgwNTcxNiM0MDE1MzA5MjkjMjI1NjcxNQ==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"12 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"ECARX Announces Fourth Quarter and Full Year 2022 Financial Results","datePublished":"2023-04-24T11:11:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/"},"wordCount":2364,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDgwNTcxNiM0MDE1MzA5MjkjMjI1NjcxNQ==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ecarx-announces-fourth-quarter-and-full-year-2022-financial-results\/","name":"ECARX Announces Fourth Quarter and Full Year 2022 Financial Results - 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