Ecarx Holdings Inc. balance sheet

At the end of fiscal 2025, Ecarx Holdings Inc. had total assets of $662m, total liabilities of $946m and shareholders' equity of −$283m. It held $87.1m in cash against $410m of debt: net debt of $323m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ecarx Holdings Inc.: balance sheet, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	154	138	107	80	44	87
Receivables	—	—	61	—	—	—
Inventory	—	—	19	23	32	62
Total current assets	—	—	476	463	386	483
Goodwill	—	—	—	—	4	4
Total assets	—	—	616	601	514	662
Accounts payable	—	—	148	—	—	—
Deferred revenue (current)	—	—	1	—	—	—
Total current liabilities	—	—	522	594	699	823
Short-term debt	—	—	126	169	185	311
Long-term debt	—	—	64	64	0	6
Total debt	—	—	190	233	250	410
Total liabilities	—	—	642	719	752	946
Shareholders' equity	—	—	−26	−130	−240	−283
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	12	—	—
Net debt (negative = net cash)	−154	−138	83	153	205	323

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Ecarx Holdings Inc.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ecarx Holdings Inc.