Summary

EHang Holdings Limited reported its unaudited financial results for the second quarter of 2024, showcasing significant achievements and growth. The company’s quarterly revenues surged by 919.6% year-over-year, reaching RMB102.0 million (US$14.0 million), the highest growth rate in its history, driven by the sale and delivery of 49 EH216 series eVTOL units. This marked a significant increase from just 5 units sold in the same period last year. The company also reported a gross margin of 62.4%, an improvement from the previous year.

EHang achieved positive operating cash flow for the third consecutive quarter and secured substantial orders, particularly in China, where it has a growing presence in Shanxi, Zhejiang, and Hong Kong. The company also advanced its strategic global partnerships, including collaborations in the UAE and Saudi Arabia, and formed a strategic partnership with China Southern Airlines for eVTOL operations. Additionally, EHang obtained the world’s first Production Certificate for its EH216-S eVTOL from the Civil Aviation Administration of China, allowing for mass production.

Financially, despite reporting a net loss of RMB71.6 million (US$9.9 million), this marked a 5.4% improvement from the previous year. Adjusted net income reached RMB1.2 million (US$0.2 million), highlighting a strong financial turnaround. The company strengthened its liquidity position by raising US$76.2 million through an equity offering, which will support future development and expansion. EHang’s outlook for the third quarter of 2024 is optimistic, with expected revenues around RMB123 million, representing a continued strong growth trajectory.

Participant Online Registration:
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A live and archived webcast of the conference call will be available on the Company’s investors relations website at http://ir.ehang.com/.