Investment Rating - The report maintains a "Buy" rating for EHang Holdings (EH O) with a target price of $22, corresponding to a 35x 2026e P/E [1] Core Views - EHang achieved a significant turnaround in Q2 2024, with revenue of RMB 102 million, surpassing the guidance of RMB 90 million, representing a 920% YoY and 65% QoQ growth [1] - The company delivered 49 EH216-S units in Q2, a 9x YoY increase and a record high, with gross margin improving to 62 4% [1] - EHang expects Q3 2024 revenue to reach RMB 123 million, a 330% YoY increase, with triple-digit growth expected in the coming quarters [1] - The company has over 1,000 pre-orders for EH216-S, with domestic orders exceeding 1,100 units since Q4 2023 [1] - EHang's OC application has been accepted by the CAAC, with the first OC expected to be approved within 2024, paving the way for commercial applications [1] - The company plans to increase its annual production capacity to over 1,000 units by 2025, supported by factory expansions and automation improvements [1] Financial Performance - EHang's Q2 2024 non-GAAP net income was RMB 1 25 million, achieving profitability two quarters ahead of expectations [1] - The company's cash and cash equivalents stood at RMB 990 million as of Q2 2024, with no further ATM issuances planned for 2024 [1] - EHang's revenue is projected to grow from RMB 428 million in 2024 to RMB 1 31 billion in 2026, with non-GAAP net income turning positive in 2025 [1][12] Operational Highlights - EHang has established operational bases in key locations such as Shenzhen, Hefei, Guangzhou, and Zhuhai, with plans to expand low-altitude tourism applications [1] - The company has signed strategic partnerships, including a memorandum with China Southern Airlines General Aviation, to establish demonstration sites for EH216-S operations [1] - EHang is collaborating with GAC Group and other partners to expand production capacity and enhance key component development, particularly in battery technology [1] Market Position and Growth Potential - EHang is positioned as a leader in the urban air mobility (UAM) sector, with significant growth potential driven by increasing demand for eVTOL solutions [1] - The company's strong order backlog and expanding production capacity support its growth trajectory, with delivery volumes expected to increase significantly in the coming years [1][12]

peepo Introduction EHang Holdings Limited (NASDAQ:EH) is a Chinese start-up focused on developing and manufacturing passenger-carrying eVTOL aircraft. The company's key product is the EH216, a two-seat pilotless multicopter designed for intracity air mobility. The EH216 is also the only eVTOL model in China that has received all certifications for commercial operation. I initiated coverage on EHang in April with a positive view of its first-mover advantage in China's eVTOL market. However, the stock has cor ...

Core Insights - EHang Holdings experienced a significant stock price increase of over 16% following the announcement of a surprise net income in its latest quarter [1] - The company reported a remarkable 920% year-over-year revenue growth in Q2, reaching over 102 million yuan ($14 million) [2] - EHang's adjusted net profit for the second quarter was 1.2 million yuan ($168,330), contrasting with a substantial net loss of nearly 52 million yuan ($7.3 million) in Q2 2023 [2] Revenue Performance - EHang's Q2 revenue soared to more than 102 million yuan ($14 million), significantly exceeding analyst expectations of 92 million yuan ($12.9 million) [2] - The company achieved a non-GAAP net profit of 1.2 million yuan ($168,330), while analysts had predicted an adjusted loss of 0.84 yuan ($0.12) [2] Growth Drivers - The substantial revenue increase was driven by high order volumes from Chinese clients and the awarding of three production certificates from the aviation industry regulator, leading to increased demand [2] - EHang anticipates continued triple-digit growth, projecting third-quarter revenue of approximately 123 million yuan ($17.3 million), which would represent a roughly 330% increase year-over-year [3]

EHang Holdings Limited (NASDAQ:EH) Q2 2024 Earnings Conference Call August 22, 2024 8:00 AM ET Company Participants Anne Ji - Senior Director, Investor Relations Huazhi Hu - Founder, Chairman & Chief Executive Officer Zhao Wang - Co-Chief Operating Officer Conor Yang - Chief Financial Officer & Director of the Board Conference Call Participants Laura Lee - Deutsche Bank Ting Song - Goldman Sachs Cindy Wang - Morgan Stanley Yu Chen - Haitong Securities Operator Good day, ladies and gentlemen. Thank you for s ...

Exhibit 99.1 EHang Reports Second Quarter 2024 Unaudited Financial Results Guangzhou, China, August 22, 2024 — EHang Holdings Limited ("EHang" or the "Company") (Nasdaq: EH), the world's leading Urban Air Mobility ("UAM") technology platform company, today announced its unaudited financial results for the second quarter ended June 30, 2024. Financial and Operational Highlights for the Second Quarter 2024 1 • Quarterly Revenues Up 919.6% YoY, Highest Growth Rate in Company History • Achieved Quarterly Adjust ...

Core Insights - EHang Holdings Limited reported a record revenue of RMB102.0 million (US$14.0 million) for Q2 2024, marking a 919.6% increase year-over-year and a 65.3% increase quarter-over-quarter, driven by the sales of EH216 series products [2][18][31] - The company achieved an adjusted net income of RMB1.2 million (US$0.2 million) in Q2 2024, a significant improvement from adjusted net losses in the same quarter of the previous year and the first quarter of 2024 [2][28] - EHang maintained positive operating cash flow for the third consecutive quarter and raised US$76.2 million through an at-the-market equity offering, enhancing its liquidity position [2][17] Financial Highlights - Total revenues reached RMB102.0 million (US$14.0 million), a 919.6% increase from RMB10.0 million in Q2 2023 and a 65.3% increase from RMB61.7 million in Q1 2024 [2][18] - Gross profit was RMB63.7 million (US$8.7 million), up 957.3% year-over-year, with a gross margin of 62.4%, reflecting a 2.2 percentage points increase from the previous year [20] - Operating loss was RMB77.4 million (US$10.7 million), a slight increase from RMB75.3 million in Q2 2023, while adjusted operating loss improved by 90.9% year-over-year to RMB4.7 million (US$0.6 million) [25][26] Operational Highlights - EHang delivered 49 units of the EH216 series in Q2 2024, the highest quarterly delivery volume in the company's history, compared to 5 units in Q2 2023 [2][18] - The company secured a production certificate for the EH216-S from the Civil Aviation Administration of China (CAAC), allowing for steady production ramp-up [3][4] - EHang has formed strategic partnerships with various entities, including China Southern Airlines for collaborative eVTOL operations and GBT for developing ultra-fast charging battery solutions [9][13] Business Developments - EHang signed significant purchase agreements, including a RMB113 million (US$15.5 million) order for 50 units of EH216-S in Shanxi and a plan for an additional 450 units [5] - The company is expanding its market presence in the Middle East, having completed its first passenger-carrying autonomous eVTOL flight in Abu Dhabi and Mecca [11][12] - EHang's applications for pilotless eVTOL Air Operator Certificates have been accepted by CAAC, paving the way for commercial operations [8]

GUANGZHOU, China, Aug. 12, 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 second quarter ended June 30, 2024 on Thursday, August 22, 2024, before the U.S. market opens. EHang’s management team will host an earnings conference call at 8:00 AM on Thursday, August 22, 2024, U.S. Eastern Time (8:00 PM on Thursday, Augus ...

Investment Rating - The report does not provide a specific investment rating for EHang Intelligent (EH.O) [1] Core Insights - EHang Intelligent is a leading eVTOL (electric vertical takeoff and landing) manufacturer, having obtained all three necessary certifications (TC, AC, PC), which positions it to accelerate commercialization [2][8] - The flagship product EH216-S has driven significant revenue growth, with 2023 revenue reaching 105 million yuan, a 159% year-on-year increase, accounting for 89% of total revenue [1][18] - EHang has over 1,500 orders in hand and is actively building an ecosystem with upstream partners to enhance its aviation energy system [2][9] Summary by Sections Company Overview - EHang Intelligent focuses on urban air mobility, with its business covering air traffic, smart city management, and aerial media [10][12] - The company was established in 2014 and went public on NASDAQ in 2019, becoming the first listed company in the urban air mobility sector [10][11] eVTOL Industry - The eVTOL industry is seen as a crucial player in the low-altitude economy, with a market potential exceeding 1 trillion yuan [5] - EHang is the first eVTOL company globally to have all three certifications (TC, AC, PC), ahead of competitors by 2-3 years, and is expected to be the first to obtain operational certification [2][8] Financial Projections - Revenue projections for EHang are as follows: 394 million yuan in 2024, 807 million yuan in 2025, and 1.205 billion yuan in 2026, with net profits expected to turn positive in 2026 [3][4] - The company has shown a strong revenue growth trajectory, with a significant increase in gross margin from 58.46% in 2019 to 64.13% in 2023 [19][21] Product Highlights - The EH216-S is a fully autonomous eVTOL that has received all necessary certifications, making it suitable for various applications including passenger transport, aerial sightseeing, and logistics [14][18] - The product features a maximum takeoff weight of 620 kg, a top speed of 130 km/h, and a range of 30 km [14][18] Market Position and Strategy - EHang has established strong partnerships with companies like GAC Group and others in the energy system sector to enhance its technological capabilities [9][10] - The company is actively participating in the development of the low-altitude economy, which has been elevated to a national strategy in China [5][8]

Price pullbacks are healthy for the stock market, happening at a 15% correction every other year on average. The recent market correction offers flying car stocks to watch an opportunity for the big future play.Whether one calls them air taxis, eVTOLs or flying cars, electrified air transportation is a natural outgrowth of miniature quadcopter technology. Across many variations, their main advantage is to take off and land vertically in urban zones without producing enormous noise like helicopters.Not count ...

GUANGZHOU, China, July 29, 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 has delivered the first batch of 10 units of EH216-S pilotless electric vertical takeoff and landing ("eVTOL") aircraft to Taiyuan Xishan Ecological Tourism Investment Construction Co., Ltd. ("Xishan Tourism") in the second quarter of this year, and completed debut passenger-carrying flights of E ...