ECARX Announces US$20,000,000 Share Repurchase Program

Core Viewpoint - ECARX Holdings, Inc. has announced a share repurchase program authorizing the repurchase of up to US$20 million of its ordinary shares until September 30, 2025, aiming to enhance shareholder value [2]. Company Overview - ECARX is a global automotive technology provider specializing in turnkey solutions for next-generation smart vehicles, including system on a chip (SoC), central computing platforms, and software [3]. - Founded in 2017 and listed on Nasdaq in 2022, ECARX employs over 1,800 people across 12 major locations worldwide, including China, the UK, the USA, Sweden, Germany, and Malaysia [4]. - The company was co-founded by Ziyu Shen and Eric Li, who is also the chairman of Zhejiang Geely Holding Group, which has interests in various global automotive brands [4]. - ECARX's products are currently integrated into over 7.3 million vehicles globally, showcasing its significant market presence [4]. Share Repurchase Program - The share repurchase may occur in the open market at prevailing prices, through privately negotiated transactions, block trades, or other legally permissible means, depending on market conditions [5]. - The program will be funded from the company's existing cash balance, and the board will periodically review and may adjust the terms and size of the repurchase program [5].