Accessibility StatementSkip Navigation NEW YORK, Sept. 8, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of EHang Holdings Limited ("EHang" or the "Company") (NASDAQ: EH). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether EHang and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joini ...

Core Viewpoint - EHang Holdings Limited is under investigation by the Schall Law Firm for potential violations of securities laws, particularly concerning misleading statements and undisclosed information that may have affected investors [1][2]. Company Summary - The investigation is focused on EHang's reduction of its 2025 revenue projection announced on August 26, 2025, which led to a downgrade in performance forecasts by Morgan Stanley [2]. - Following the announcement of the revenue projection cut, EHang's American Depositary Receipts (ADRs) experienced a decline of over 7.5% on the same day [2]. Legal Context - The Schall Law Firm is inviting shareholders who have suffered losses to participate in the investigation, emphasizing their specialization in securities class action lawsuits and shareholder rights litigation [3].

Summary of EHang (EH) Conference Call Company Overview - **Company**: EHang (EH) - **Industry**: Electric Vertical Takeoff and Landing (eVTOL) Aircraft Key Points Commercialization and Product Development - EHang's management is optimistic about the solid order growth of the EH216-S model from clients across various provinces [1][5] - The company is shifting its near-term focus to commercial eVTOL operations and the development of demonstration models in the second half of 2025 [1][6] - EHang is working on the Type Certificate (TC) application for the VT-35 model, which is aimed at long-distance travel [1][5] Partnerships and Production Expansion - EHang has partnered with the Hefei government to establish a new production site for the VT-35, enhancing its product line expansion and R&D capabilities [1][5] - The Yunfu factory is undergoing capacity expansion, targeting an annual production capacity of 1,000 units to support increased deliveries [5] Financial Outlook - EHang updated its 2025 revenue guidance to RMB 500 million, down from a previous estimate of RMB 900 million, due to the shift in focus towards commercial operations [6] - Despite the revised revenue outlook, management remains positive about the long-term ramp-up of eVTOL deliveries [6] Valuation and Price Target - EHang is rated as a "Buy" with a 12-month target price of $24.80, representing a potential upside of 59.2% from the current price of $15.58 [7][9] - The target price is based on a discounted cash flow (DCF) methodology, projecting a 10% year-over-year free cash flow growth from 2028 to 2030 [7] Risks - Key risks include slower-than-expected regulatory progress regarding airworthiness, weaker customer adoption of passenger-grade AAVs, and increased competition in the AAV market [8] Financial Metrics - Market Capitalization: $915.7 million - Revenue Projections: RMB 456.2 million for 2024, increasing to RMB 1,563 million by 2027 [9] Additional Insights - EHang's focus on training operators for eVTOL services is crucial for the successful rollout of public services [5] - The company's strategic partnerships and production capabilities are expected to enhance its competitive position in the eVTOL market [1][5]

Investment Rating - The report maintains a "Buy" rating for the company with a target price of $20, corresponding to a 20x P/S for 2025 [4][6]. Core Insights - The company has lowered its full-year revenue guidance for 2025 from 900 million RMB to approximately 500 million RMB, reflecting a year-on-year growth of about 10% [1]. - In Q2 2025, the company delivered 68 units of the EH216 series aircraft, a significant increase compared to previous quarters, with a total of 79 units delivered in the first half of the year [1]. - The company achieved a revenue of 147 million RMB in Q2, representing a 44% year-on-year increase, with a gross margin of 62.6% [1]. - The company has received over 150 new orders for the EH216 series in Q2, with 90% of these being domestic orders [3]. - The company is actively pursuing the commercial launch of the EH216-S for passenger operations within the year and plans to unveil the VT35 model in September [2]. Financial Summary - The company expects revenues of 500 million RMB in 2025, with projections of 750 million RMB in 2026 and 1.34 billion RMB in 2027 [4]. - Non-GAAP net profit is projected to be 5 million RMB in 2025, increasing to 54 million RMB in 2026 and 167 million RMB in 2027 [4]. - The company has a capital expenditure guidance of approximately $40 million for 2025, with capacity expansion goals remaining unchanged [1]. Operational Developments - The company has obtained all necessary certifications for eVTOL manufacturing and is conducting trial operations for passenger drones [2]. - Strategic partnerships have been established with battery manufacturers to address battery life and charging issues, including the development of solid-state batteries [3].

Core Viewpoint - The low-altitude economy is in its early and nurturing stage, with significant progress made despite a slower pace in commercialization and large-scale delivery [3][14]. Group 1: Industry Overview - The low-altitude economy index has increased by 15.78% year-to-date as of September 5 [3]. - The total revenue of 70 component stocks in the low-altitude economy reached 173.14 billion yuan, a year-on-year increase of 2.4%, while net profit attributable to shareholders decreased by 16.72% to 8.49 billion yuan [3]. Group 2: Infrastructure Development - Infrastructure is crucial for the low-altitude economy, with new players emerging to address the complexities of low-altitude infrastructure [6]. - Zhongke Xingtu has developed its low-altitude business into one of its three major sectors, achieving revenue of 63.81 million yuan from this segment, accounting for 4.73% of total revenue [6]. - Sichuan Jiuzhou has entered the low-altitude infrastructure sector, reporting a revenue of 1.85 billion yuan, a year-on-year increase of 5.53% [7]. Group 3: Certification and Industry Chain Development - The low-altitude economy has seen significant milestones in airworthiness certification, with EHang's subsidiaries receiving the world's first passenger operation certificates [9]. - Peak Fly Aviation became the first to obtain cargo version TC certification for a ton-level eVTOL model, marking a breakthrough in cargo low-altitude equipment [10]. - Companies like Yingboer are collaborating with leading eVTOL firms, enhancing their capabilities in the low-altitude economy [11]. Group 4: Commercialization Progress - EHang has adjusted its annual revenue guidance down from 900 million yuan to approximately 500 million yuan, focusing on expanding commercial eVTOL operations rather than just delivery volume [14]. - A landmark case in low-altitude commercialization was the successful transportation flight to an offshore oil platform, showcasing eVTOL's capabilities in complex environments [15]. - The stock price of China National Offshore Oil Corporation rose by 5.54% following the announcement of this successful flight [16].

Core Viewpoint - EHang Holdings Limited successfully conducted the first-ever pilotless human-carrying flight of its EH216-S in Africa, marking a significant milestone in Urban Air Mobility technology and expanding its global footprint to 21 countries across five continents [1][6]. Company Achievements - The pilotless flight took place during the 9th Aviation Africa Summit & Exhibition in Kigali, Rwanda, in collaboration with China Road and Bridge Corporation [1][5]. - The EH216-S is recognized as the world's first pilotless electric vertical take-off and landing (eVTOL) aircraft to operate in Africa, showcasing EHang's technological leadership [1][6]. Support and Recognition - The flight received strong support from the Rwanda Civil Aviation Authority, with dignitaries including Rwandan President Paul Kagame and Chinese Ambassador to Rwanda Wenqi Gao present at the event [5][8]. - President Kagame acknowledged the flight's potential to drive low-altitude transportation development in Africa, while Ambassador Gao emphasized its significance in China-Rwanda cooperation under the Belt and Road Initiative [8][9]. Market Expansion Plans - EHang aims to leverage its advanced pilotless aerial vehicle technology to address transportation challenges in Africa, particularly in remote and underserved regions [11]. - The company plans to collaborate with partners like CRBC to explore advanced air mobility development models suitable for the African market [11][12]. Industry Context - The Aviation Africa Summit serves as a platform for discussing aviation industry development, regional cooperation, and investment opportunities, attracting representatives from over 50 countries [10]. - EHang's participation in the summit highlights its commitment to engaging with African airlines, airports, and civil aviation authorities to promote the development of transportation, logistics, and tourism sectors in Africa [13].

Core Viewpoint - EHang Holdings Limited has announced a strategic partnership with China Road and Bridge Corporation to enhance the promotion and sales of EHang's pilotless aerial vehicles and accelerate the growth of the global low-altitude economy [1][4]. Company Overview - EHang is recognized as the world's leading urban air mobility technology platform, focusing on safe, autonomous, and eco-friendly air mobility solutions [7]. - The EH216-S is the first pilotless, human-carrying electric vertical takeoff and landing aircraft to receive multiple certifications from the Civil Aviation Administration of China [7]. Partnership Details - The partnership aims to leverage the strengths of both companies, with CRBC acting as an agent to promote EHang's products in international markets [4]. - CRBC has a significant global presence, operating in over 70 countries, which will support EHang's international expansion [4][9]. - The collaboration will focus on innovative models for international certification of autonomous aviation and expanding application scenarios in the low-altitude economy [6]. Recent Developments - EHang and CRBC participated in Aviation Africa 2025, where EHang completed its first human-carrying flight of the EH216-S in Africa, marking its global flight footprint expansion to 21 countries [5]. - The event was attended by notable figures, including Rwandan President Paul Kagame, highlighting the international recognition of Africa's potential in civil aviation [5]. Strategic Goals - The partnership is positioned as a pivotal step for EHang's international expansion and aims to drive the global low-altitude economy forward [6]. - Both companies are committed to delivering high-quality, efficient pilotless aerial vehicle solutions and enhancing integrated transportation networks [6].

Core Insights - The low-altitude economy is still in its early stages despite breakthroughs in infrastructure, industrial chains, and commercialization [1][13] - The low-altitude economy index has increased by 15.78% year-to-date as of September 5, indicating growing interest [1] - The revenue of 70 component stocks in the low-altitude economy reached 173.14 billion yuan, a year-on-year increase of 2.4%, while net profit decreased by 16.72% to 8.49 billion yuan [1] Infrastructure Development - Infrastructure is crucial for the low-altitude economy, with complexities that differ from traditional aviation [2] - Companies like Zhongke Xingtu and Sichuan Jiuzhou are expanding into low-altitude infrastructure, with revenues of 6.38 million yuan and 1.85 billion yuan respectively [2][3] - Sichuan Jiuzhou plans to invest 260 million yuan in technological upgrades to enhance production capacity [3] Industry Chain Progress - The low-altitude economy has seen significant advancements in airworthiness certification, with key milestones achieved in 2023 [5][6] - Companies like Yingboer are collaborating with leading eVTOL firms, enhancing their capabilities in the low-altitude sector [7] - Wan Feng Aowei, a major player in general aviation, reported a revenue increase of 12.09% to 1.44 billion yuan in its aircraft manufacturing business [9] Commercialization Challenges - Despite progress in the industry chain, commercialization remains a challenge, with companies needing to demonstrate viable business models [10][11] - EHang's revenue guidance was lowered from 900 million yuan to approximately 500 million yuan, focusing on expanding commercial eVTOL operations [11] - A landmark case involving the transportation of materials to an offshore oil platform has been recognized as a benchmark for low-altitude commercialization [12] Overall Industry Outlook - The low-altitude economy is transitioning from conceptual discussions to practical applications, but uncertainties in infrastructure development and commercialization timelines persist [13]

Core Viewpoint - EHang Intelligent announced a strategic partnership with China Road and Bridge Corporation to promote and sell its unmanned aerial vehicle products overseas [1] Group 1: Partnership Details - EHang has signed an agency agreement with China Road and Bridge, which will leverage its overseas platform to market EHang's unmanned aerial vehicles globally [1] - The partnership aims to enhance EHang's international presence and expand its market reach [1] Group 2: Event Participation - EHang and China Road and Bridge participated in the African Aviation Summit held in Kigali, Rwanda, from September 4 to September 5 [1] - During the summit, EHang successfully conducted the first manned flight of the EH216-S unmanned aerial vehicle in Africa [1]

Core Insights - EHang Holdings Limited is under investigation for potential violations of federal securities laws and unlawful business practices [2] - The company has significantly reduced its 2025 revenue projection from 900 million yuan to 500 million yuan, leading to a decrease in its American Depositary Receipt (ADR) price by $1.34, or 7.53%, closing at $16.45 on August 26, 2025 [3] Company Overview - EHang is a publicly traded company listed on NASDAQ under the ticker EH [2] - The company is facing scrutiny from Bragar Eagel & Squire, P.C., a law firm specializing in stockholder rights [2][5] Financial Impact - The revision of revenue projections has prompted Morgan Stanley to lower its forecasts for EHang [3] - The ADR price drop indicates a negative market reaction to the company's revised financial outlook [3]