GUANGZHOU, China, May 13, 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 first quarter ended March 31, 2024 on Monday, May 20, 2024, before the U.S. market opens. EHang’s management team will host an earnings conference call at 8:00 AM on Monday, May 20, 2024, U.S. Eastern Time (8:00 PM on Monday, May 20, 2024, Beij ...

Core Viewpoint - EHang Holdings Limited has achieved a significant milestone with the successful completion of the first passenger-carrying demo flight of its pilotless eVTOL aircraft EH216-S in Abu Dhabi, marking a first in the UAE and Middle East [1][4] Group 1: Company Developments - The EH216 series, including EH216-S, EH216-L, and EH216-F, successfully completed autonomous flights in Abu Dhabi, approved by the General Civil Aviation Authority (GCAA) [4] - EHang is actively engaged in designing and establishing eVTOL vertiports in the UAE to prepare for launching commercial UAM routes [5] - The company expanded into the UAE by joining the Smart and Autonomous Vehicle Industries Cluster and forming strategic partnerships with local entities to drive eVTOL development [5] Group 2: Technological Innovations - The EH216 series is designed to address urban mobility challenges, featuring a compact fuselage, high redundancy design, and intelligent cluster management for safety and efficiency [4] - EHang's EH216-S has obtained the world's first type certificate, production certificate, and standard airworthiness certificate for passenger-carrying pilotless eVTOL aircraft from the Civil Aviation Administration of China [7] Group 3: Strategic Partnerships and Support - EHang's collaboration with the GCAA and local partners, including Multi Level Group (MLG) and Wings Logistics Hub, has been crucial for the successful demo flights and future commercial operations [5][6] - Local government support and partnerships are emphasized as key factors for EHang's leadership in the UAM sector in the UAE and beyond [6]

GUANGZHOU, China, April 28, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading Urban Air Mobility ("UAM") technology platform company, announced that it has established a strategic partnership with ultra-fast charging-focused Guangzhou Greater Bay Technology Co., Ltd. ("Greater Bay Technology" or "GBT") at the 16th Chongqing International Battery Technology Exchange Conference/Exhibition for the research and development of the world's first Ultra-Fast ...

Collaboration with global eVTOL player EHang announced during Abu Dhabi's inaugural DRIFTx eventAgreement aims to promote eVTOLs to transform the way people and goods are transportedEHang looking to promote business activities with local partners including manufacturing, flight operations, research and development, training and MRO ABU DHABI, United Arab Emirates, April 26, 2024 (GLOBE NEWSWIRE) -- EHang Holdings Limited ("EHang" or the "Company") (NASDAQ:EH), the world's leading urban air mobility ("UAM") ...

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Investment Rating - The report initiates coverage on EHang Holdings (EH O) with a "Buy" rating and a target price of $22, corresponding to 12x 2025e P/S or 35x 2026e P/E [2] Core Views - EHang is a global leader in the Urban Air Mobility (UAM) sector, with its core products including the EH216-S passenger aircraft, EH216-F firefighting version, and EH216-L logistics version [1] - The company achieved revenue of RMB 117 million in 2023, a 165% YoY increase, driven by the sale of 52 EH216 series units, with 23 units sold in Q4 2023 [1] - The eVTOL market is projected to exceed RMB 500 billion in the medium term, with significant growth potential in both sales and operational markets [1] - EHang has a clear first-mover advantage, having secured the Type Certificate (TC) and Production Certificate (PC) for its EH216-S, positioning it ahead of competitors in regulatory approvals [1][37] - The company has secured hundreds of pre-orders from both domestic and international clients, including government and enterprise customers, with a current production capacity of 600 units per year [1][48] Industry Overview - The eVTOL market is expected to reach RMB 310 billion in operational revenue and RMB 200 billion in sales revenue in the medium term, driven by applications in tourism and commuting [1] - The report estimates that the operational profitability (OPM) for eVTOL in tourism scenarios could reach 35%, with a single machine generating annual revenue of RMB 2 million [25] - In the commuting market, a single route like Guangzhou-Foshan could generate annual revenue of RMB 28 billion, with a potential market size of RMB 2.8 trillion if 10 routes are established [29][30] - The sales market for eVTOL is projected to reach RMB 200 billion annually, assuming a delivery volume of 40,000 units at an average price of RMB 500,000 per unit [31] Company Strengths - EHang has secured significant government support and partnerships, including agreements with cities like Shenzhen, Guangzhou, Hefei, and Wuxi, which are actively promoting low-altitude economy ecosystems [1][43] - The company has a robust order book, with hundreds of pre-orders from both domestic and international clients, including a 100-unit order from Wuxi and a 100-unit order from the UAE [47] - EHang's production capacity is sufficient to meet near-term demand, with its Yunfu factory capable of producing 600 units annually [48] Financial Projections - The report forecasts EHang's revenue to grow to RMB 380 million, RMB 810 million, and RMB 1.27 billion in 2024, 2025, and 2026, respectively, driven by increased deliveries of the EH216 series [2] - Non-GAAP net profit is expected to improve from a loss of RMB 20 million in 2024 to profits of RMB 130 million and RMB 280 million in 2025 and 2026, respectively [2] - The company is expected to maintain a gross margin of around 60%, with operating margins improving significantly as sales scale up [50][51]

GUANGZHOU, China, April 15, 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 filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the "SEC") on April 15, 2024. The annual report can be accessed on the Company's investor relations website at http://ir.ehang.com/ and on the SEC's website at https ...

Company Structure and Operations - EHang Holdings is a Cayman Islands holding company conducting operations in China primarily through its subsidiaries, with the VIE and its subsidiaries accounting for 0.4% of consolidated revenues for the years ended December 31, 2021, 2022, and 2023[12]. - The company has obtained necessary licenses and permits from PRC authorities for its operations, including General Aviation Enterprise Operation Licenses for UAVs[16]. - The contractual arrangements with the VIE may not be as effective as direct ownership, potentially limiting the company's ability to enforce agreements and consolidate financial results[12]. - The company has a "controlling financing interest" in the VIE, allowing it to consolidate the VIE's financial results under U.S. GAAP[12]. - The company is not required to obtain permissions from the CSRC for its listing or undergo cybersecurity review by the CAC as of the date of the annual report[16]. - The VIE's shareholders may have potential conflicts of interest that could adversely impact the company's business and financial condition[12]. - The company relies on contractual arrangements with the VIE and its shareholders for certain business operations in China, which may not be as effective as direct ownership[117]. Financial Performance - EHang Holdings reported total revenues of RMB 44,098 million for the year ended 2022, a significant increase from RMB 28,399 million in 2021, representing a growth of 55.4%[21]. - The company achieved third-party revenues of RMB 41,716 million in 2022, compared to RMB 2,199 million in 2021, indicating a remarkable increase of 1,797%[21]. - Gross profit for EHang Holdings was RMB 19,443 million in 2022, up from RMB 8,452 million in 2021, reflecting a growth of 129.5%[21]. - EHang Holdings reported a net loss attributable to ordinary shareholders of RMB 313,959 million for the year ended 2022, compared to RMB 306,666 million in 2021, reflecting a slight increase of 2.1%[22]. - The company’s total assets as of the end of 2022 were RMB 617,424 million, compared to RMB 624,014 million at the end of 2021, showing a decrease of 1.1%[22]. - The company reported a net cash outflow from operating activities of RMB 121,629 thousand in 2022, which improved to a net cash inflow of RMB 14,870 thousand in 2023[26]. - The company reported a total of RMB 49,794 thousand in short-term bank loans in 2023, up from RMB 69,798 thousand in 2022, showing a decrease of about 28.7%[25]. Regulatory and Compliance Risks - The PCAOB previously determined it could not inspect registered public accounting firms in mainland China and Hong Kong, impacting the company's compliance with the Holding Foreign Companies Accountable Act[15]. - The company has been identified as a Commission-Identified Issuer under the HFCAA, which could lead to trading prohibitions if audit reports are not compliant[15]. - The company faces risks related to uncertainties in the interpretation and enforcement of PRC laws, which could materially affect operations and the value of its ADSs[14]. - The PRC legal counsel has indicated that there are substantial uncertainties regarding the interpretation and application of current and future PRC laws[113]. - The company may face substantial uncertainties regarding compliance with future laws and regulations affecting its corporate structure and governance[116]. - The inability for overseas authorities to conduct investigations within China may increase risks for the company in protecting its interests[112]. Market and Growth Strategy - EHang Holdings plans to expand its market presence and invest in new product development to enhance its competitive edge in the industry[21]. - The company is focusing on strategic partnerships and potential acquisitions to drive growth and innovation in the coming years[21]. - The company expects the revenue contribution from air mobility solutions to increase while that from aerial media solutions is anticipated to decrease in the foreseeable future[47]. - The company has established a strong customer base and partnerships across the UAM ecosystem, including regulators and aviation companies[202]. - The company is focused on expanding its market presence and developing customized solutions for various customer needs[199]. Product Development and Innovation - The company obtained the type certificate for EH216-S from the CAAC in October 2023, allowing it to conduct passenger-carrying commercial operations[36]. - The EH216-S has undergone over 40,000 test flights and more than 500 specific test items to validate safety, airworthiness, and performance[198]. - The company has developed an integrated digitalized operating platform for its eVTOL aircraft and UAV products, enhancing operational safety and efficiency[210]. - The R&D team constitutes 52.9% of the total workforce, emphasizing the company's commitment to technology innovation[200]. - The company has established its own product safety standards to ensure high levels of safety assurance, but there is no guarantee that these measures will prevent incidents[48]. Financial Management and Capital Structure - The company does not expect to pay any cash dividends in the foreseeable future, intending to retain most of its available funds for business development and growth[18]. - The company may need to raise additional capital through equity or debt financing, which could dilute existing shareholders' equity[98]. - The company’s ability to pay dividends may depend on the dividends paid by its subsidiaries, which are subject to PRC regulations[17]. - The company has not declared or paid any dividends on its ordinary shares to date[18]. - The company may face legal liabilities if share capital is not fully paid up before statutory deadlines, including interest loss and compensation liabilities to creditors[158]. Operational Challenges - The company faces risks related to timely product deliveries due to limited production capacity[30]. - The company has limited experience in high-volume manufacturing, which may hinder its ability to meet production capacity and timely deliveries[38]. - The company relies on external suppliers for raw materials and key components, and any deterioration in relationships with these suppliers could adversely impact operations[71]. - The company’s operations may be interrupted by production difficulties or delays due to mechanical failures or natural disasters, which could have a material adverse effect on its business[60]. - The company may face significant product liability claims if its products do not perform as expected, which could adversely affect its financial condition and liquidity[54]. Legal and Ethical Considerations - The company is subject to various anti-corruption and anti-bribery laws, and noncompliance could lead to severe penalties and negatively impact its reputation[102]. - The company may face legal claims and reputational damage if it improperly uses or discloses personal information[97]. - The company is involved in joint ventures with government agencies, increasing compliance-related concerns and risks[103]. - The company faces potential negative publicity and operational disruptions if business partners do not adhere to ethical practices[78]. Data Protection and Cybersecurity - The company processes personal data to improve content recommendations, which may subject it to regulatory oversight in jurisdictions like the EU and the US[92]. - The company must comply with evolving data protection laws in China, including the Personal Information Protection Law effective from November 1, 2021[93]. - A cybersecurity incident in July 2023 caused a temporary disruption, but the company believes the impacts were immaterial and has taken measures to mitigate future risks[51]. - The company is monitoring regulatory developments closely to ensure compliance with data security and privacy laws[93]. Economic and Market Conditions - The COVID-19 pandemic significantly impacted operations, leading to delayed supplier fulfillments and reduced demand, particularly from the tourism sector[81]. - The global UAM market is expected to grow exponentially, driven by advancements in eVTOL technologies and increasing urbanization challenges[194]. - The PRC government's oversight could result in material adverse changes in operations and the value of the company's ADSs[128]. - Increased labor costs and stricter labor laws in the PRC may adversely affect the company's profitability[135]. Shareholder Rights and Corporate Governance - The company is incorporated in the Cayman Islands and operates primarily in China, which may limit shareholder rights compared to U.S. companies[167]. - Holders of American Depositary Shares (ADSs) have limited voting rights and must provide instructions to the depositary to vote on their behalf[170]. - The company's memorandum and articles of association contain anti-takeover provisions that could adversely affect the rights of ordinary shares and ADS holders[164]. - The dual-class share structure may limit the influence of Class A shareholders on corporate matters and discourage change of control transactions[126].

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GUANGZHOU, China, April 09, 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 the Board of Directors of the Company (the "Board") has appointed Mr. Zhao Wang as the Co-Chief Operating Officer ("Co-COO") of the Company, effective on April 9, 2024. The Company's management team will jointly lead EHang into next phase of growth for commercial operations following the groundbrea ...