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EHang Holdings Limited (EH) is a trailblazer in the Urban Air Mobility (UAM) sector, spearheading the development of Autonomous Aerial Vehicle (AAV) technology. Established in April 2014 and headquartered in Guangzhou, China, EHang aims to revolutionize air transportation by making it safe, autonomous, and eco-friendly. The company has a global presence with branches in Beijing, Shanghai, and San Francisco, and employs around 200 dedicated professionals.
EHang's core products include the EH216 series, which consists of the EH216-S for passenger transportation, the EH216-F for high-rise firefighting, and the EH216-L for aerial logistics. These electric vertical takeoff and landing (eVTOL) aircraft are designed to offer scalable solutions for air mobility, smart city management, and aerial media applications. EHang's EH216-S has achieved groundbreaking milestones by obtaining the world's first Type Certificate (TC), Production Certificate (PC), and Standard Airworthiness Certificate (AC) from the Civil Aviation Administration of China (CAAC).
In recent developments, EHang has expanded its operations globally, marking significant achievements in the UAE, Japan, Spain, and Costa Rica. The company has forged strategic partnerships with local governments and organizations to develop eVTOL infrastructure and commercial UAM routes. In China, EHang has collaborated with various municipal governments to foster the growth of the low-altitude economy, which is poised to become a key national strategic emerging industry. Noteworthy partnerships include agreements with the Hefei Municipal Government, Wuxi local government, and Guangzhou Automobile Group.
Financially, EHang has shown robust growth, with a significant increase in revenues driven by higher sales volumes of its EH216 series. The company reported total revenues of RMB56.6 million for Q4 2023, a year-over-year increase of 260.9%. Despite facing net losses, EHang has improved its financial position through strategic investments and favorable government policies aimed at promoting the low-altitude economy.
Looking ahead, EHang is focused on mass-producing its EH216-S and expanding its commercial operations. The company is also working on developing ultra-fast charging battery solutions for its eVTOL aircraft, in collaboration with Guangzhou Greater Bay Technology Co., Ltd. With a vision to make autonomous aerial vehicles a common part of everyday life, EHang continues to explore the skies, pushing the boundaries of urban air mobility.
EHang Holdings (Nasdaq: EH) has obtained an Experimental Flight Authorization Certificate (CAVE) from Brazil's National Civil Aviation Agency (ANAC) for its EH216-S pilotless electric Vertical Take-Off and Landing (eVTOL) aircraft system. This authorization allows EHang and its local partner Gohobby to conduct test and trial flights in Brazil, demonstrating the aircraft's intelligent flight technology and cluster management system.
The certification follows a thorough review process and aligns with recent cooperation agreements between Brazil and China to strengthen their partnership in civil aviation. EHang plans to collaborate with ANAC and Brazil's Airspace Control Department (DECEA) to advance research on Concepts of Operations and Unmanned Aircraft Traffic Management (UTM) systems for safe UAM deployments in Brazil.
EHang Holdings (Nasdaq: EH), a leading urban air mobility technology company, has strongly refuted recent unfounded rumors circulating in retail investor communities. These baseless allegations, which falsely claim EHang is related to a U.S. government investigation on Chris Hu, have unfairly impacted the Company's stock price. EHang categorically denies any involvement in such activities and affirms that its management team, including Founder, Chairman and CEO Huazhi Hu, has no personal connections to the incident mentioned in the rumors.
The Company emphasizes its commitment to transparency and compliance in both China and the U.S. operations. EHang remains focused on developing and commercializing autonomous aerial vehicle technology and will consider legal action against those spreading false information to protect its reputation and shareholder interests.
EHang Holdings (NASDAQ: EH) reported unaudited financial results for Q2 2024, showcasing a record-breaking 919.6% YoY revenue increase to RMB102.0 million (US$14.0 million). The company delivered 49 units of its EH216 series products, its highest quarterly volume. Gross margin improved to 62.4%, and adjusted net income reached RMB1.2 million (US$0.2 million). Operating loss stood at RMB77.4 million (US$10.7 million), but this marked a 90.9% improvement in adjusted operating loss from the same period last year. EHang raised US$76.2 million through an at-the-market equity offering, strengthening its liquidity. Significant orders were secured, including 50 units in Shanxi and 30 units in Zhejiang. EHang also received the EH216-S Production Certificate from CAAC, enabling steady production ramp-up. Strategic collaborations were formed with China Southern Airlines General Aviation and partnerships in the Middle East and with GBT for ultra-fast charging battery solutions. The company maintained positive operating cash flow for the third consecutive quarter.
EHang Holdings (Nasdaq: EH), a leading urban air mobility technology platform company, has announced it will release its unaudited financial results for the second quarter of 2024 on Thursday, August 22, 2024, before the U.S. market opens. The company will host an earnings conference call at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) on the same day.
To participate in the conference call, individuals must register online to receive dial-in information and a PIN. A live and archived webcast of the call will be available on EHang's Investor Relations website. This announcement indicates EHang's commitment to transparency and investor communication, providing stakeholders with timely updates on the company's financial performance.
EHang Holdings (Nasdaq: EH) has delivered the first batch of 10 EH216-S pilotless eVTOL aircraft to Xishan Tourism in Taiyuan, China. The company completed debut passenger-carrying flights on July 28, 2024, showcasing the potential for aerial sightseeing services. Two EH216-S aircraft took off simultaneously with four passengers onboard, demonstrating autonomous flying and cluster management capabilities.
Xishan Tourism has ordered 50 units of EH216-S, with plans to acquire an additional 450 units over the next two years. The company aims to deploy these aircraft for local low-altitude sightseeing and tourism services, establishing flight routes at various locations in Taiyuan. This initiative aligns with Shanxi Province's efforts to develop its low-altitude economy and general aviation industry.
EHang has also applied for the EH216-S Air Operator Certificate (AOC) from the Civil Aviation Administration of China, marking a significant milestone for the global eVTOL industry. The company is gradually delivering EH216-S to multiple cities and assisting local partners in creating application scenarios to obtain OC.
EHang Holdings (Nasdaq: EH) announced that the Civil Aviation Administration of China (CAAC) has formally accepted Air Operator Certificate (AOC) applications from its subsidiary and joint venture. This marks the start of the review process for pilotless passenger-carrying eVTOL aircraft business licenses and operational qualifications. The CAAC has formed a specialized review team for this world-first project.
EHang is collaborating with CAAC to develop EH216-S operational standards, which will serve as a reference for the world's first commercial operation regulatory system for pilotless passenger-carrying eVTOLs. The company recently contributed to the release of China's first technical specification for eVTOL aircraft landing sites.
This milestone brings EHang closer to its goal of commercial operation of unmanned passenger-carrying aerial vehicles, representing the final step for urban air mobility entering the consumer market.
EHang Holdings (Nasdaq: EH) has partnered with KC Smart Mobility, a subsidiary of Kwoon Chung Bus Holdings (KCBH), to advance the deployment of EH216-S pilotless eVTOL in Hong Kong, Macau, and select cities in China. KC Smart Mobility plans to purchase 30 units of EH216-S from EHang. This collaboration aims to contribute to Hong Kong's low-altitude economy development and set a benchmark for UAM operation in the region.
The partnership aligns with Hong Kong's national strategy for low-altitude economy development, with government officials expressing commitment to fostering innovation in this sector. KCBH, a major transportation company in Hong Kong, sees this as an opportunity to extend its services from ground to air transport, focusing on aerial sightseeing and air mobility applications.
EHang Holdings (Nasdaq: EH) has entered into a strategic partnership with China Southern Airlines General Aviation Company (CSGAC) to advance pilotless eVTOL operations for the low-altitude economy. The collaboration involves the development of demonstration sites for the EH216-S eVTOL aircraft at Zhuhai Jiuzhou Airport and Zhuhai Chimelong Ocean Kingdom. The partnership aims to launch routine low-altitude flight services and explore diverse use cases including inter-island cargo transport, emergency response, and medical rescue. The agreement also includes operational team training, vertiport infrastructure construction, flight service platform development, and maintenance standard establishment. This initiative is expected to drive growth in the general aviation industry and enhance the low-altitude economy in the Guangdong-Hong Kong-Macau Greater Bay Area.
EHang announced the delivery of 27 EH216-S pilotless aircraft to Wencheng County, Zhejiang. The company received full payment for an initial batch of 30 units. The EH216-S completed its inaugural passenger flight on June 22, 2024, at the Baizhangji Fall & Feiyun Lake Scenic Resort. This initiative is part of Wencheng's low-altitude tourism and economy development.
EHang and Wencheng County plan to establish a comprehensive urban air mobility (UAM) infrastructure and explore commercial operations in tourism, transportation, logistics, and emergency services. The collaboration aims to make Wencheng a model for low-altitude economic growth, contributing to broader regional development goals.
EHang's COO, Zhao Wang, highlighted the market's strong response, citing increased global orders following recent certifications. The Wencheng project is expected to set a benchmark for UAM operations in East China.
EHang Holdings (Nasdaq: EH) has entered into a cooperation agreement with the government of Wencheng County, Zhejiang Province, to develop urban air mobility (UAM) and supporting public service ecosystems.
Wencheng County Transportation Development Group has ordered 30 EH216-S units, paying 50% upfront, with plans to purchase 270 more units by 2026. Additionally, Wencheng aims to establish an industry chain for low-altitude economies, incorporating maintenance, sales, and operations of pilotless aerial vehicles.
The collaboration will focus on aerial tourism, leveraging Wencheng's scenic resources. Plans include launching multiple aerial sightseeing routes by the end of the year. The county aims to become a pioneer in low-altitude economies, projecting a market size of over RMB 1 billion by 2026.
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