US Stock Market Move | ECARX Holdings, Inc. (ECX.US) increased by nearly 6%, completing a $45 million public offering for refinancing.

On Tuesday, ECARX Holdings, Inc. (ECX.US) rose nearly 6% to $1.335. On the news front, on April 1st, ECARX Holdings, Inc. announced that the company completed a $45 million public offering, marking the company's first public offering since its listing on Nasdaq in December 2022, and the first automotive technology company to go public on the US stock market through a DeSPAC since 2022 through a public offering. According to the plan, the funds raised this time will be used for ECARX Holdings, Inc. to accelerate the construction of a global R&D system, establish overseas supply chains, and for general corporate purposes. Financial reports show that the company's revenue reached 5.56 billion yuan in 2024, an 18% increase year-on-year; shipments exceeded 2 million units, a 33% increase year-on-year; and gross profit margin was 21%.