ECARX Holdings Inc.

Good day and thank you for joining us. Welcome to eCarX's third quarter 2025 earnings conference call. At this time, all participants are in 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, Rene Du, Head of Investor Relations at eCarX. Please proceed, Renee.

Good morning and welcome to ECONRX Third Quarter 2025 Earnings Conference Call. With me today from ECONRX are our Chairman and Chief Executive Officer, Ziyu Shen, Chief Operating Officer, Peter Serino, and Chief Financial Officer, Bill 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 will also apply 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 the discussions 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 earnings release. With that, I'd like to hand the call over to Ziyu. Please go ahead.

Thank you, Renee. Hello, everyone, and thank you for joining us today. Building on the strong momentum from the first half of the year, Quarter 3 delivered several significant milestones that demonstrate the continued progress we are making in laying a sustainable foundation for future growth. We successfully achieved EBITDA breakeven per our guidance in Quarter 2 and recorded EBITDA of US dollar, 8.3 million US dollar, even more notably. We became net profitable for the first time, achieving breakeven with net profit of US dollar 0.9 million. Our move to profitability was supported by our recovery in gross margin, enhanced R&D efficiency, and ongoing optimization of operating expenses. These all reflected the stress and the effectiveness of our lean operating strategy. Revenue grew by 11% year-over-year and 41% quarter-over-quarter, notching U.S. dollar 290.9 million. Growth profit was U.S. dollar 47.6 million, up 39% year-over-year, lifting growth margin to 22%. This growth was fueled by the successful launch of multiple vehicle models incorporating our solutions and the recovery in average selling prices and by strong demand across our portfolio. Our pipe computing platform built on the Qualcomm A295 Snapdragon chipset is our latest solution to begin mass production and was a key contributor to our strong performance during the quarter as we began scaling up production. With our growing global project pipeline and expanding partnerships, we are on the trajectory to drive the strong momentum into next quarter and 2026 where we will maintain profitability in quarter four and achieve double digits revenue growth in 2005 and beyond. Shipments stretched in quarter three to approximately 667,000 units, up 51% year-over-year and 26% quarter-to-quarter, and the shipments of our Antora series reached a record high of 196,000 units. The increased deliveries of Antora series is a key driver of our success in achieving profitability and our future growth. We expect our vertical integration capabilities will further improve profitability as shipments of Antora family account for a larger percentage of total shipments. By the end of December, approximately 10 million vehicles on the road globally incorporate eCarX technology, a testament to our deliver at scale and a trust we have earned from automakers worldwide. The breadth of our global partnerships with our makers continues to amplify the unique value proposition we offer as a core technology provider. More vehicles integrated with our solutions are hitting the road and driving strong sales growth, such as GD's best-selling models, the XinYuan, XinYao8, and flagship Galaxy M9. We also continue to unlock New growth opportunities from existing partnerships. Building on the momentum from our initial project we last quarter with one of China's top five automakers, we secured a second project. We will work with a local partner to integrate our solution into a new model. Expected to launch next year. Additionally, we secured a new project with another Chinese automaker for its upcoming MPV model. Most importantly, we continue to make meaningful breakthroughs globally. Securing a second project recently with a leading European automaker that will add another US dollar 400 million in lifetime revenue to our pipeline. This brings total contracted lifetime revenue from global automakers across Europe and America to over US dollar 2.5 billion. This win reflects the growing trust in our solutions and is paving the way for deeper strategic collaboration going forward. Our technological leadership is soft in software-defined vehicles with full-stack capabilities of Cloud Peak. and the integration of Google Automotive Service into Antora platforms provide a significant value to global automakers, allowing them to cut gas certification time by over 50% to just eight months. These wins demonstrated the replicability and the scalability of our core technologies across diversified platforms and the geographics, allowing us to follow stronger partnerships and drive significant commercial value. This underscores how our flexible software-defined solutions and platform strategy effectively address the evolving needs of leading automakers worldwide. Furthermore, our capabilities to rapidly integrate Google Automotive Services combined with our intelligent manufacturing infrastructure provide us a powerful competitive advantage. These strengths enable us to both accelerate the time to market and efficiently scale up on a global level. Our core three results clearly demonstrated the strength and momentum we are building through operational discipline, robust project pipeline, a strength global presence, and continued investments in technology and infrastructure. We have delivered on our commitment to achieving EBITDA break-even and becoming profitable. Moreover, the raising up to US dollar 150 million in convertible notes last week reflects the strong confidence investors have in our strategy and execution as we enter new phase of growth. The offering involves a zero-coupon amortized installment structure and an initial conversion price set at a 15% premium to the reference share price at insurance. This additional capital will provide empty liquidity to fuel our international expansion, drive forward new product innovation, and explore potential M&A opportunity globally. With this support and solid foundation laid with the profitable quarter three, we are confident this momentum will carry into the fourth quarter. We are now focused on finishing the year strong and driving growth in 2006 and beyond. I will now pass the call over to Peter, who will go through the operating results of the quarter in more detail.