ECARX Holdings Inc.

day and thank you for joining us welcome to ecorex's second quarter 2025 earnings conference call at this time all participants are in the listen only mode after management gives their prepared remarks there will be a question and answer session as a reminder today's conference call is being recorded i would now like to turn the call over to your host for today's call renee do head of investor relations at ecorex please proceed renee

Thank you, Operator. Good morning and welcome to EconX Second Quarter 2025 Earnings Conference Call. With me today from EconX are our Chairman and Chief Executive Officer, Liu Shen, Chief Operating Officer, Peter Serino, and Chief Financial Officer, Phil Zhou. Following their prepared remarks, they will all be available to answer your questions. Before we start, I would like to refer you to our forward-looking statements 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 the SEC. In addition, this call will include a discussion of certain non-GAAP financial measures. A reconciliation of the non-GAAP financial measures to the GAAP financial measures can also be found at the bottom of our next release. With that, I'd like to hand the call over to Tzu Yu Please go ahead.

Thank you, Renee. Hello, everyone, and thank you for joining us today. During the quarter, we continued to build up the strong momentum achieved throughout 2024 and early 2025. Despite seasonal headwinds, we made solid progress securing key new projects, expanding partnerships, and strengthening the foundation for future growth. All results this quarter reflect the distinct execution of our lean operating strategy and reinforce our path towards growth and EBITDA breakeven in each of the remaining quarters and for year 2035. In quarter two, we shipped 532,000 units, bringing the total number of vehicles on the road with ECAR-X technology to over 9.3 million at the end of June 2035. These achievements testify to the sustained operational excellence and the reliability that have become hallmarks of our execution, even during these challenging times. As is typical for our industry, Core 2 was impacted by seasonality and the timing of certain contracts with revenue reaching US dollar 156 million on the back of strategic investments and pricing initiatives to drive future growth. The disciplined execution of our lean operating strategy helped lower operating expenses by 20% to US dollar 57.2 million, with several significant new projects expected to launch in the second half. We remain on track to reach EBITDA, break even, and generate close to 20% revenue growth. The breadth of our global partnerships with automakers continue to anchor our position as a core technology provider. By quarter two, I'm excited to share our current contract, WING, already secured over $1 billion of lifetime revenue for overseas revenues. Besides our strong position in China market, we are very confident our strong position in global market as well. Shipments of Antora series solution surged 112% year-over-year to 135,000 units during the quarter. Providing ample fuel to sustain growth momentum growing forward, our broad portfolio of solutions, especially the flagship Antora platform integrated with Flyme Auto, are driving the success of several GE best-selling models, including GALAX brand, which has surpassed 1 million accumulated sales milestone this year. This is the fastest NEV brand has ever achieved this. Following our first project award from Volkswagen Group in March 2005, I had the pleasure of accepting Volkswagen Brazil's Technical Development and Innovation Award on behalf of EcoX at their one-partnership celebration in Brazil earlier this month. This award reflects Volkswagen's confidence in our technological innovation capabilities and the growing impact our innovative solutions are having on the global automotive industry. Notably, we also began monetizing our automotive R&D investments across new high-growth sectors with a leading developer of robotics-long motors selecting our LiDAR technology during the quarter. With the mass production planned for 2006, this partnership will broaden our horizon beyond the automotive sector, validate the application of our cutting-edge technologies and help pave the way for future opportunities in the vast robotics market. As part of our global expansion strategy, our new global headquarters in Singapore is set to open in the second half of 2025, where it will accelerate our global IP management, R&D collaboration, and supply chain optimizations, enabling us to better serve automakers across global markets. In summary, Despite the impact of seasonality, our results this quarter underscore the strength and momentum we are building through operational discipline and expanding pipeline of projects, growing global preferences, diversified applications, and investment in technology and infrastructure. We are well-positioned to drive the industry's transition to software-defined intelligent vehicles and also to hit our break-even targets. I will now pass the call over to Peter, who will go through the operating results of the quarter in more detail.