ECARX Holdings Inc.

Good morning and welcome to our third quarter 2023 earnings conference call. With me today are eCARx Chairman and Chief Executive Officer, Ziyu Shen, Chief Operating Officer, Peter Serino, and Chief Financial Officer, Phil Zhou. Following their prepared remarks, they will be able to answer your questions during the Q&A session that follows. Please note, today's call is being recorded. Before we start, I would like to refer you to our forward-looking statement at the bottom of our earnings press release, which also applies to this call. Further information on specific risk factors that could cause actual results to differ materially can be found in our filings with SEC. In addition, this call will include discussions of certain non-GAAP financial measures. Please refer to our earnings release. which contains a conciliation of the non-GAAP measure to GAAP measure. With that, I'd like to hand the call over to Tzu Yu.

Thank you, Renee. Hello, everyone, and thank you for joining our third quarter earnings call. Let me start by saying a few words about China market. This quarter saw again a growing share of NEV sought via ICE vehicles and the trend is clearly accelerating with global NEV adoption rate reached a record high at 90.8% in the third quarter. This year, China is well positioned to become the largest automotive exporter in the world. This year is also likely to be the first year where domestic brands will outsell foreign brands in China. One of the important trends that we witnessed this quarter was the launch of car-specific mobile phones whose OS seamlessly integrates into the vehicle's ecosystem to create a value experiment. With Meizu, we are pushing a similar integration strategy. At eCarX, we deliver another strong quarter of growth with revenue of 50% year-on-year as we continue to benefit from increased spending by OEMs on enhancing the in-car experience and meeting consumer demand for greater connectivity and more sophisticated digital car-based technologies. There are now over 5.6 million vehicles on the road that incorporate our technology across 24 brands offered by our 15 automotive OEM customers. Vehicles on the road equipped with our products increased 8% from last quarter and 31% from the same period last year. With our dedicated team of over 2,000 people, 70% of whom are engineers, we are firmly positioned as the leading tech provider in the industry. I'm pleased to report that we further expanded our customer base outside of GE Group in China during the quarter with Dongfeng Peugeot-Citroen Automobile, the joint venture between Dongfeng and Centiland, coming about onboard as a significant customer in August. We also added six design wings for flagship car models in the third quarter. paying the way for further growth, which I will let Peter go over in more detail later. Internationally, Chinese EV makers and technology suppliers have truly arrived on the global stage following their massive presence at the IAA Mobility Model Show in Munich in September. We are investing significant resources into growing our business and presence outside of China. And I have several key milestones coming up that will significantly raise our visibility internationally, including the upcoming launch of the Volvo EX30 that will feature our digital copy solution. The recent debut of the LinkingCo 08 SUV equipped with our full stack solution is a great showcase for the full range of technologies we have to offer as our industry profile continues to grow. We are also attracting increased attention as a technology provider within the mobility space through the ecosystem partnerships we announced with Baidu and Mobile Discord. In summary, we delivered a very strong quarter, both from a commercial technology and ecosystem point of view. I will now pass the call over to Peter, who will go through the operating results for the quarter in more detail.

Thank you, Ziyu, and good day, everyone. Our innovative product portfolio enabled us to secure a number of new design wins during the quarter. Operationally, we were focused on strengthening our portfolio internationally, expanding our partner ecosystem, and delivering additional product advancements. With operations in 11 major locations across three continents, our global footprint facilitates close working relationships with local OEMs and access to a truly global talent pool. As Liu mentioned, we have gained significant momentum in the China market by adding three additional OEMs to our customer base. We also added six new design wins in the third quarter. Three of these will utilize the eCARX and TORA 1000 Pro platform. Two will utilize the eCARX Makalu platform, with the remaining to adopt eCARX and TORA 1000 platform. These achievements underscore the increasing demand for software-defined vehicles and enriched in-car experiences reflecting the significant value proposition and market opportunity for our innovative product portfolio. Our eCARX Antora series offers customers with a high-end digital, intelligent cockpit experience and an attractive price point. eCARX's well-integrated Antora SoC also enables them to save on engineering costs and decrease the time needed to bring their vehicles to market. eCARX Makalu, on the other hand, offers clients an ultra-high-end performance digital cockpit computing platform, supported by a powerful AMD SoC and Unreal Engine graphics solutions. With unparalleled 3D graphics, security, and entertainment features, it is one of the most powerful intelligent cockpits available on the market. As Yiyu mentioned, our solutions are now being integrated into Dongfeng Peugeot Citroën Automobiles' new Citroën Peigny, Peugeot 4008 Compact SUV, and Peugeot's flagship 508L sedan, which began mass production in the first half of August. These vehicles are equipped with our E02 Intelligent Cockpit Computing Module, which has already been installed in more than 1 million vehicles across 32 separate models from a variety of automotive brands. While we continue to grow in China, we also made significant progress with our global expansion during the quarter. The Volvo EX30, which is equipped with eCarX Cloud Peak, began starter production in late September and will be launched globally later this year. We are confident its launch will significantly raise our international profile and provide customers globally a demonstration of the cutting-edge technology and enjoyable in-car experience we can deliver. To support our expanding international profile, we showcased our ultra-high-end performance digital cockpit capabilities, and more notably, our immersive McAloop platform at IAA Mobility in Munich in September. Our on-site demo allowed visitors to fully experience these innovative solutions and get a taste for the technologies that will shape the vehicle industry for years to come. In November, we will be presenting at the Reuters Automotive USA 2023 industry gathering in Detroit, where we will also meet with many North American prospects. On the technology front, we expanded our product portfolio to include the eCarX Skyland ADAS platforms. eCarX Skyland Pro is our first generation autonomous driving control unit, which integrates automated parking, and active safe driving solutions such as lane change assist on controlled access highways. These ADAS capabilities will allow us to further expand content per vehicle and strengthen customer loyalty by providing a more secure and supportive driving experience. The Lincoln Go08 is the first vehicle to launch which contains our full stack solution. It reflects our ability to drive technological innovation and it is representative of the direction that we are headed in. Its digital cockpit is powered by the Antora 1000 Pro platform, integrated with the eCarX Cloud Peak software stack and FlyMe Auto to deliver a smooth and seamless interactive in-car experience. Together with eCarX Skylamp Pro ADAS platform and 5R10V sensor configurations, These technologies bring L2 Plus capability to this flagship car. The Lincoln Co. 08 recently received a high score in preliminary ADAS tests under China's new car safety assessment program, the NCAT. With such stellar results, we are confident we can leverage the full-stack solution for the Lincoln Co. 08 to approach new customers. We continue to carefully invest in the development of new cutting-edge technologies and have a strong development pipeline that we eagerly look forward to updating you on in the months ahead. Let me now share with you some updates on our partnership ecosystem, which is helping us develop disruptive technologies that will sustainably drive growth and innovation across the automotive sector. In August, we began collaborating with Mobileye to build a one-box solution integrating automotive driving and parking features that will enable hands-off and eyes-off self-driving on controlled access highways. This solution will be used in the mass production of the Polestar 4 electric SUV coupe, the world's first mass-produced car to adopt mobilized chauffeur consumer AV technology. As part of this collaboration, eCarX will be responsible for the development of parking-related algorithms and functions, local production of hardware used in domain control units, and quality management and supply chain management. This represents significant progress in terms of both innovation and our go-to-market strategies. Going forward, eCarX and Mobileye will partner on a driver-assisted solution and a cockpit driving parking integrated solution based on the latest IQ6 automotive grade SOC. We also expanded our partnership with Baidu Apollo during the quarter, which will see us become one of the first automotive technology partners to explore the intelligent cockpit application of its AI large language model. Through this partnership, multiple innovative functions have been integrated into eCRX computing platforms, some of which are expected to be launched on select mass-produced Lincoln Co. models in the near future. This partnership will leverage each party's respective strengths and will usher in a new era of innovative automotive intelligence solutions that will shape the industry at large. We expect these solutions to enable eCARX to help OEMs provide more natural and differentiated speech recognition, offer unique smart experiences, and propel further innovation in automotive intelligence. To further enhance our technological leadership, we will also incorporate LLM capabilities into our integrated intelligent ecosystem. Our strategic partnership with Shinzi Meizu is also very important. The FlyMe Auto ecosystem's foundational concept is the integration of smartphone computing and storage capabilities into vehicles to create seamless interconnection. With unique features such as small window display mode, dynamic effects, and sophisticated in-car climate control, FlyMe Auto became the first operating system in the automotive industry to receive certification from China's TL Certification Institute for its superior performance, providing customers with a unique and smooth interactive in-car experience. Finally, an update on eCarX CloudPeak, our cross-domain system, developed in collaboration with our joint venture with Volvo. eCarX CloudPeak was built to meet strict vehicle safety and information security requirements. It supports multiple operating systems and global mobility ecosystems with security protocols that meet both Chinese and international standards. In late August, EtherX CloudPeak was awarded the EAL4 certification for information security. In closing, as the automotive industry progresses towards software-defined vehicles and thus from distributed EE architectures to central computing platforms, Our innovative solutions and strategic partnerships with some of the world's leading tech companies and OEMs will enable us to build and solidify our market leadership and position ourselves at the forefront of this global transition. Now I will turn the call over to Phil to review our financial results for the past quarter.