Quarterly Revenues Increased by 178.0% YoYAchieved Positive Operating Cash Flow for the Second Consecutive QuarterSecured Production Certificate from CAAC, Clearing Path for Mass Production of EH216-SGrowing Orders and Deliveries Boosted by Low-Altitude Economy Industry in ChinaPartnered with GBT for Ultra-Fast/eXtreme Fast Charging BatteriesPartnered with GAC to Strengthen Capability for Future Production Expanded International Partnership and Demo Flights in UAE, Spain, Costa Rica and Japan GUANGZHOU, Chi ...

Investment Rating - The report assigns a "Buy" rating to the company, marking the first coverage [2] Core Views - The company is a global leader in the eVTOL industry, with significant first-mover advantages in urban air mobility [3] - The company's EH216-S model has obtained the "three major certifications" (TC, AC, PC), positioning it as a pioneer in the industrialization of eVTOL [10] - The company's revenue is expected to grow significantly, with 2024-2026 revenue projections of 4.0/7.6/10.8 billion yuan, and Non-GAAP net profit of -0.5/0.8/1.8 billion yuan [7] Financial Performance and Valuation - Revenue for 2023 was 117 million yuan, a 165% YoY increase, with a net loss of 302 million yuan [1] - Adjusted net profit for 2023 was -138.2 million yuan, with an adjusted net profit margin of -118% [1] - The company's P/S ratio is projected to decrease from 19.9x in 2024 to 7.3x in 2026, while the adjusted P/E ratio is expected to improve from -171.2x in 2024 to 42.9x in 2026 [1] Industry Overview - The eVTOL market is expected to grow from $1.2 billion in 2023 to $23.4 billion by 2030, with a CAGR of 52% [4] - eVTOLs are expected to dominate low-altitude urban transportation due to their intelligence, safety, economic efficiency, and environmental friendliness [24] - The industry is supported by favorable policies, with China's first unmanned aerial vehicle regulation taking effect in 2024 [30] Company Highlights - The company has completed approximately 47,000 safe test flights globally as of March 2024 [6] - The company has secured strategic partnerships with local governments and enterprises, including a 100-unit EH216-S order from Wuxi [46] - The company has a strong order backlog, with significant pre-orders from international clients such as Japan's AirX and Indonesia's Prestige Aviation [47] Technological Advantages - The company adheres to three core technological principles: redundancy, autonomous flying, and cluster management [43] - The EH216-S model is equipped with a distributed electric propulsion (DEP) system and can safely land even if three propellers fail [43] - The company's command and dispatch system can manage up to 3,500 autonomous aircraft simultaneously [43] Market Expansion and Partnerships - The company is actively expanding its overseas market, with operations in 15 countries across Asia, Europe, and the Americas [48] - Strategic partnerships with battery manufacturers like Guoxuan High-Tech and automotive companies like GAC Group are expected to enhance the company's supply chain and market reach [45] - The company has established multiple command centers in China to support its smart city management and urban air mobility operations [43]

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, Beiji ...

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 ...