GUANGZHOU, China, April 07, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading Urban Air Mobility ("UAM") technology platform company, today announced that EHang has successfully obtained the Production Certificate ("PC") for its EH216-S passenger-carrying pilotless electric vertical takeoff and landing ("eVTOL") aircraft issued by the Civil Aviation Administration of China ("CAAC"), which is the world's first PC granted in the global eVTOL industry. ...

GUANGZHOU, China, March 22, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading urban air mobility ("UAM") technology platform company, announced today that Japan's first UAM Center has been established in Tsukuba City, Ibaraki Prefecture. This state-of-the-art facility serves as a demonstration flight site, ground infrastructure, and maintenance base for EHang's various pilotless electric vertical takeoff and landing ("eVTOL") aircraft in the region, ...

The flying car, or vertical aviation, market is one of the fastest growing segments of the transportation industry. Analysts and market enthusiasts predict eVTOL stocks could very well revolutionize urban mobility and create a multi-billion-dollar market. With enough investment and consumer interest, this nascent market could become a force to be reckoned with, similar to how the electric vehicle (EV) market has grown in the past decade. Some of the companies in the space appear to be doing better than othe ...

EHang Holdings Limited (NASDAQ:EH) Q4 2023 Earnings Conference Call March 15, 2024 8:00 AM ET Company Participants Anne Ji - Senior Director of IR Huazhi Hu - Founder, Chairman and CEO Conor Yang - CFO and Director of the Board Conference Call Participants Ting Song - Goldman Sachs Yu Chen - Haitong Securities Laura Lee - Deutsche Bank U.S. Operator Good day, ladies and gentlemen, thank you for standing by, and welcome to the EHang Fourth Quarter and Fiscal Year of 2023 Earnings Conference Call. As a remind ...

Quarterly Revenues Increased by 260.9% YoY, 97.8% QoQ, Fiscal Year Revenues Increased by 165.0%Maintained Stable and High Gross MarginAchieved Positive Operating Cash Flow in the Fourth Quarter of 2023Obtained the World's First Pilotless Passenger-Carrying eVTOL Type Certificate ("TC") and Standard Airworthiness Certificate ("AC") for EH216-S from the CAACMoved Forward eVTOL Sales and Operations Partnered with GAC Group to Strengthen Capability for Future Production Expanded to UAE Market GUANGZHOU, China, ...

Financial Performance - Total revenues for Q4 2023 were RMB56.6 million (US$8.0 million), a 260.9% increase YoY and a 97.8% increase QoQ[2] - Fiscal year 2023 revenues reached RMB117.4 million (US$16.5 million), representing a 165.0% increase from RMB44.3 million in 2022[3] - Gross profit for Q4 2023 was RMB36.6 million (US$5.2 million), reflecting a 253.3% increase from RMB10.4 million in Q4 2022 and a 98.2% increase from RMB18.5 million in Q3 2023[22] - Total revenues for the year ended December 31, 2023, reached RMB 117,426, an increase from RMB 44,317 in 2022, representing a growth of 165%[66] - Gross profit for the year ended December 31, 2023, was RMB 75,311, compared to RMB 29,219 in 2022, indicating a growth of 157%[66] Operating Loss and Net Loss - Operating loss for Q4 2023 was RMB75.2 million (US$10.6 million), an 18.4% improvement from RMB92.2 million in Q4 2022[2] - Net loss for Q4 2023 was RMB72.5 million (US$10.2 million), improving by 34.2% from RMB110.1 million in Q4 2022, but increasing by 8.0% from RMB67.1 million in Q3 2023[29] - EHang's adjusted net loss for fiscal year 2023 was RMB138.8 million (US$19.6 million), a 32.7% improvement from RMB206.2 million in 2022[4] - Operating loss for the year ended December 31, 2023, was RMB 296,252, a slight improvement from RMB 329,331 in 2022, reflecting a reduction of 10%[67] - Net loss attributable to ordinary shareholders for the year ended December 31, 2023, was RMB 301,700, down from RMB 328,221 in 2022, showing a decrease of 8%[67] Cash Flow and Assets - The company achieved positive operating cash flow in Q4 2023, with cash and equivalents totaling RMB334.1 million (US$47.1 million) as of December 31, 2023[2][4] - As of December 31, 2023, cash and cash equivalents totaled RMB334.1 million (US$47.1 million), with positive cash flow generated from operations during Q4 2023[35] - The Company reported total current assets of RMB 453,048 thousand as of December 31, 2023, an increase from RMB 387,155 thousand as of December 31, 2022, representing a growth of approximately 17%[62] - The Company’s total assets increased to RMB 598,645 thousand in 2023 from RMB 530,867 thousand in 2022, representing a growth of about 13%[62] Expenses - Total operating expenses for FY 2023 were RMB377.8 million (US$53.2 million), compared to RMB339.3 million in 2022[39] - Research and development expenses for FY 2023 were RMB167.3 million (US$23.6 million), an increase from RMB135.1 million in 2022, primarily due to higher share-based compensation and compliance tests related to EH216-S[40] - Sales and marketing expenses for the year ended December 31, 2023, were RMB 60,389, up from RMB 53,116 in 2022, reflecting a rise of 14%[66] - Total operating expenses for the year ended December 31, 2023, were RMB 377,796, compared to RMB 339,263 in 2022, an increase of 11%[66] Shareholder Equity and Liabilities - Total shareholders' equity rose to RMB 214,219 thousand in 2023 from RMB 124,678 thousand in 2022, marking an increase of about 71%[64] - Total liabilities decreased to RMB 384,426 thousand in 2023 from RMB 406,189 thousand in 2022, reflecting a reduction of approximately 5%[64] - The Company’s accumulated deficit increased to RMB (1,754,542) thousand in 2023 from RMB (1,450,374) thousand in 2022, indicating a worsening of approximately 21%[64] Product Development and Market Expansion - EHang obtained the world's first pilotless passenger-carrying eVTOL Type Certificate and Standard Airworthiness Certificate for EH216-S from the CAAC[5] - EHang expanded its market presence to the UAE, entering a strategic partnership for the sale of 100 units of EH216 series eVTOLs[12][14] - The company is moving forward to obtain a Production Certificate for mass production of the EH216-S[8] - The company aims to scale up commercial sales of EH216-S following the achievement of obtaining the world's first pilotless passenger-carrying eVTOL certifications in Q4 2023[46] Future Projections - The company expects total revenues for Q1 2024 to be around RMB58.0 million, indicating an approximate 160% year-over-year increase[48]

GUANGZHOU, China, March 08, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading urban air mobility ("UAM") technology platform company, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023 on Friday, March 15, 2024, before the U.S. market opens. EHang's management team will host an earnings conference call at 8:00 AM on Friday, March 15, 2024, U.S. Eastern Time (8:00 PM on F ...

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GUANGZHOU, China, Feb. 07, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading urban air mobility ("UAM") technology platform company, today announced a suggested retail price of US$410,000 for its EH216-S pilotless passenger-carrying electric vertical takeoff and landing ("eVTOL") aircraft in global markets outside China, effective from April 1, 2024. (Image: The suggested retail price for EH216-S in Global markets outside China) The EH216-S distingu ...

GUANGZHOU, China, Feb. 01, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading urban air mobility ("UAM") technology platform company, announced the suggested retail price for its EH216-S passenger-carrying unmanned aerial vehicle ("UAV") system in China. Given the market potential and substantial industry scale of China's low-altitude economy, coupled with the global trend of rapid growth in low-altitude aerial services, the EH216-S UAV system's offic ...