Latest news with #EHangHoldingsLimited
Yahoo
28-05-2025
- Business
- Yahoo
BofA Securities Trims EHang (EH) PT to $24 Following Q1 Sales Miss
On Tuesday, Bank of America Securities analyst Fiona Liang reiterated a Buy rating on EHang Holdings Limited (NASDAQ:EH), but reduced the price target from $26 to $24. This adjustment follows EHang's Q1 2025 financial results, which reported lower-than-expected sales of RMB 26 million. This figure represents a significant decline of 58% year-over-year and 84% sequentially. A modern commercial jet airliner decorated with the company logo in flight against a clear blue sky. The shortfall was primarily attributed to fewer electric vertical take-off and landing (eVTOL) deliveries, with only 11 units delivered compared to the anticipated 60 units, as well as extended internal budgeting processes for procurement from local governments and a cautious approach from customers awaiting the Operational Certificate/OC, which EHang obtained in late March 2025. Despite these setbacks, EHang's management remains optimistic about achieving its 2025 revenue target due to a rebound in orders following the OC receipt. The company also saw an improvement in gross profit margin, which rose to 62.4% in Q1, continuing its track record of margins with a sustained gross profit margin of 61.37% over the last 12 months. EHang is expected to benefit from the development of the eVTOL industry in China, which could drive significant growth. EHang Holdings Limited (NASDAQ:EH) designs, develops, manufactures, sells, and operates UAVs (unmanned aerial vehicles), as well as supporting systems and infrastructure for various industries and applications. While we acknowledge the potential of EH to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EH and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
07-05-2025
- Business
- Yahoo
EHang Holdings (NASDAQ:EH) rallies 14% this week, taking three-year gains to 157%
It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes to zero. But when you pick a company that is really flourishing, you can make more than 100%. For instance the EHang Holdings Limited (NASDAQ:EH) share price is 157% higher than it was three years ago. That sort of return is as solid as granite. We note the stock price is up 14% in the last seven days. After a strong gain in the past week, it's worth seeing if longer term returns have been driven by improving fundamentals. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Given that EHang Holdings didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. When a company doesn't make profits, we'd generally hope to see good revenue growth. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit. In the last 3 years EHang Holdings saw its revenue grow at 87% per year. That's well above most pre-profit companies. Along the way, the share price gained 37% per year, a solid pop by our standards. But it does seem like the market is paying attention to strong revenue growth. That's not to say we think the share price is too high. In fact, it might be worth keeping an eye on this one. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). NasdaqGM:EH Earnings and Revenue Growth May 7th 2025 EHang Holdings is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. You can see what analysts are predicting for EHang Holdings in this interactive graph of future profit estimates. A Different Perspective EHang Holdings shareholders are up 3.9% for the year. Unfortunately this falls short of the market return. It's probably a good sign that the company has an even better long term track record, having provided shareholders with an annual TSR of 10% over five years. It may well be that this is a business worth popping on the watching, given the continuing positive reception, over time, from the market. It's always interesting to track share price performance over the longer term. But to understand EHang Holdings better, we need to consider many other factors. Case in point: We've spotted 1 warning sign for EHang Holdings you should be aware of.
Yahoo
30-03-2025
- Business
- Yahoo
Why EHang Holdings Ltd (EH) Is Surging In 2025?
We recently published a list of . In this article, we are going to take a look at where EHang Holdings Limited (NASDAQ:EH) stands against other aerospace stocks that are surging in 2025. The aerospace industry is riding a wave of growth as global conflicts across the world have sparked a surge in demand. This has led to swelling backlogs and a flood of orders from every corner of the globe. Meanwhile, recent administration changes in the United States have shaken things up. European countries are ramping up their aerospace orders and are eager to secure advanced technology. Some nations have hesitated over U.S. orders amid shifting policies, but cancellations seem unlikely since trade wars have simmered down a bit. Beyond geopolitics, the industry is buzzing with other trends. The commercial aviation sector is roaring back with record passenger traffic. This has pushed airlines to modernize fleets with fuel-efficient aircraft. Moreover, AI software is making defense aircraft more potent, and the entire industry has seen a bump in growth. For this article, I screened the best-performing aerospace stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A modern commercial jet airliner decorated with the company logo in flight against a clear blue sky. Number of Hedge Fund Holders In Q4 2024: 11 EHang Holdings Limited (NASDAQ:EH) is a leading Urban Air Mobility technology platform company. It specializes in autonomous aerial vehicles for passenger transportation. EHang Holdings (NASDAQ:EH) is up significantly so far in 2025 due to the company's Q4 2024 revenue growing 190.2% year-over-year to $22.5 million and beating guidance by 20%. Fiscal 2024 revenue also grew 288.5% year-over-year to $62.86 million. EHang Holdings (NASDAQ:EH) delivered 2216 eVTOL units and achieved its first annual non-GAAP profitability. The consensus price target of $24.75 implies 11.09% upside. EH stock is up 41.51% year-to-date. Overall, EH ranks 3rd on our list of aerospace stocks that are surging in 2025. While we acknowledge the potential of EH as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EH but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
12-03-2025
- Business
- Yahoo
EHang Reports Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results
Record-high quarterly and annual revenues, up 190.2% and 288.5% YoY, respectively Record-high quarterly and annual delivery volume, 216 units in 2024 1st year and 3rd consecutive quarter of non-GAAP profitability1 1st year and 5th consecutive quarter of positive operating cash flow Fiscal year 2025 revenues expected to be around RMB900 million, up 97% YoY GUANGZHOU, China, March 11, 2025 (GLOBE NEWSWIRE) -- 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 fourth quarter and fiscal year ended December 31, 2024. Operational and Financial Highlights for the Fourth Quarter of 2024 EH216 series eVTOL2 sales and deliveries achieved a record-high of 78 units, representing a 239.1% increase from 23 units in the fourth quarter of 2023, and a 23.8% increase from 63 units in the third quarter of 2024. Total revenues reached a record-high of RMB164.3 million (US$22.5 million), up 190.2% YoY from RMB56.6 million in the fourth quarter of 2023, and up 28.2% QoQ from RMB128.1 million in the third quarter of 2024. Gross margin was 60.7%, slightly down from 64.7% in the fourth quarter of 2023, and on par with 61.2% in the third quarter of 2024. Operating loss was RMB55.4 million (US$7.6 million), representing a 26.4% improvement from RMB75.2 million in the fourth quarter of 2023 and on par with RMB54.7 million in the third quarter of 2024. Adjusted operating income3 (non-GAAP) was RMB27.9 million (US$3.8 million), a significant improvement from an adjusted operating loss3 of RMB24.9 million in the fourth quarter of 2023 and a 208.2% increase from RMB9.0 million in the third quarter of 2024. Net loss was RMB46.9 million (US$6.4 million), representing a 35.3% improvement from RMB72.5 million in the fourth quarter of 2023, and a 2.6% improvement from RMB48.1 million in the third quarter of 2024. Adjusted net income1 (non-GAAP) was RMB36.4 million (US$5.0 million), a significant improvement from an adjusted net loss1 of RMB22.1 million in the fourth quarter of 2023, and a 132.3% increase from RMB15.7 million in the third quarter of 2024, the third consecutive quarter of non-GAAP profitability1. Cash and cash equivalents, restricted short-term deposits and short-term investments balances were RMB1,154.9 million (US$158.2 million) as of December 31, 2024. Positive operating cash flow continued for the fifth consecutive quarter. Strategic PIPE investments of over US$22 million from Zhuhai Enpower Electric Co., Ltd. ('Enpower') and a strategic institutional investor from Middle East. Operational and Financial Highlights for the Fiscal Year 2024 EH216 series eVTOL sales and deliveries were 216 units, a 315.4% increase from 52 units in 2023. Total revenues reached a record-high of RMB456.2 million (US$62.5 million), up 288.5% from RMB117.4 million in 2023. Gross margin was 61.4%, a slight decrease from 64.1% in 2023. Operating loss was RMB253.4 million (US$34.7 million), a 14.5% improvement from RMB296.3 million in 2023. Adjusted operating income3 (non-GAAP) was RMB19.7 million (US$2.7 million), a significant improvement from an adjusted operating loss3 (non-GAAP) of RMB144.8 million in 2023. Net loss was RMB230.0 million (US$31.5 million), a 23.9% improvement from RMB302.3 million in 2023. Adjusted net income1 (non-GAAP) was RMB43.1 million (US$5.9 million), a significant improvement from an adjusted net loss1 (non-GAAP) of RMB138.8 million in 2023, while delivering the Company's first year of non-GAAP profitability1. Cash and cash equivalents, short-term deposits, restricted short-term deposits and short-term investments balances were RMB1,154.9 million (US$158.2 million) as of December 31, 2024, a 245.7% increase from RMB334.1 million as of December 31, 2023. Positive operating cash flow for the first year with a net cash inflow from operating activities of around RMB160 million (US$21.9 million) in 2024. Business Highlights for the Fourth Quarter of 2024 and Recent DevelopmentsChina Market: Continued to capitalize on the booming demand for eVTOLs as the first mover in the market, securing new orders from clients such as Weihai High-Tech Zone and Sunriver, and delivering eVTOL products to multiple cities across China, including Shanghai, Weihai, Wenzhou, Shaoguan, Wuhan, among others. Global Presence: Expanded EH216-S's flight footprint to 16 cities in Japan, Thailand and Mexico, and completed Europe's first-ever urban flight of a pilotless eVTOL aircraft in Certification ('OC'): Currently, the Civil Aviation Administration of China ('CAAC') has completed the document and onsite inspections for the first two applicants - EHang General Aviation, the Company's wholly-owned subsidiary specializing in UAM operation services, and Heyi Aviation, the Company's joint venture in Hefei. Both are waiting for the final approvals. Meanwhile, more clients were actively setting up for OC applications, dedicated in future commercial flight operations with EHang eVTOLs in Shenzhen, Shanghai, Taiyuan, Wenzhou, Weihai and more cities across China. Infrastructure: Collaborated with clients to launch new UAM operation centers and eVTOL flights in Hefei, Shanghai, and Shenzhen, and entered a strategic partnership with China Communications Information & Technology Group in December 2024 for co-developing digital UAM infrastructure and low-altitude flight hubs across China. Talent Training: Partnered with the Civil Aviation Flight University of China to train skilled professionals for eVTOL operations and maintenance and address the estimated demand for millions of talents of the low-altitude economy sector in Manufacturing Base in South China: Planned expansion to phase II (24,000 square meters), aiming for a total annual production capacity of 1,000 units by 2025. Collaborated with Enpower on intelligent manufacturing and supply chain management through a joint venture to jointly upgrade and expand Yunfu production lines with enhanced automated manufacturing and production efficiency. Hefei Manufacturing Base in East China: Partnered with JAC Motors and Guoxian Holdings, backed by Hefei municipal government, to establish a state-of-the-art eVTOL manufacturing base in Hefei for future production expansion. Weihai Manufacturing Base in East China: Cooperated with Weihai High-Tech Zone with a plan to establish an eVTOL manufacturing base in Weihai as a production hub of Shandong province to support regional demand. Beijing National Headquarters for Low-Altitude Emergency Rescue Equipment in North China: Partnered with Beijing Fangshan District Government to establish a comprehensive emergency firefighting industrial park in Fangshan District of Lithium Batteries: Achieved the world's first eVTOL solid-state lithium battery test flight in collaboration with Shenzhen Inx Energy Technology Co., Ltd., a company specializing in the research and development and production of high-energy density (480Wh/kg) and high-safety lithium metal solid-state batteries, improving EH216-S flight endurance by 90% to over 48 minutes. Electric Motor Drive Systems: Partnered with Enpower to co-develop next-generation electric motors and motor controllers for EHang eVTOLs. Changan Automobile Partnership: Jointly developing flying car-related products to expand EHang's product line and target mass consumer markets. Management Remarks Mr. Huazhi Hu, Founder, Chairman and Chief Executive Officer of EHang: 'We are thrilled to have concluded 2024 with a series of achievements that have propelled us closer to the widespread commercial adoption of eVTOLs. As a pioneer in the UAM industry, we achieved our highest-ever quarterly and annual eVTOL deliveries, driving revenues to record-high levels and delivering our first year of non-GAAP profitability1. This underscores the accelerating adoption of our pilotless eVTOL solutions. We worked on our production capacity expansion, deepened ecosystem partnerships for infrastructure and talents, and advanced our footprint in Asia, Europe and South America. Looking ahead to 2025, our focus remains on driving innovation, expanding our operational network, and scaling production to meet increasing demands and unlock the full potential of UAM. We are confident in our ability to lead the transformation of aerial transportation and deliver long-term value to our stakeholders.' Mr. Conor Yang, Chief Financial Officer of EHang: 'Year 2024 was a year of exceptional momentum for EHang. Total revenues in the fourth quarter of 2024 surged 190.2% YoY to a new high of RMB164.3 million, with full-year total revenues increasing 288.5% to a record RMB456.2 million. This growth was driven by unprecedented demand for our flagship EH216-S and our strategic execution in certifying our eVTOL, scaling production and preparing for commercial operations. As a result, we made significant strides in non-GAAP profitability1, achieving our 3rd consecutive quarter and 1st year of adjusted net income1 (non-GAAP), alongside 5th consecutive quarter and 1st year of positive operating cash flow. This has enabled us to invest in research and development activities, expand production capacity, and accelerate our business development. With a robust financial position and a competitive edge, we are well-positioned to accelerate innovation and commercialization, sustaining our momentum into 2025.' Unaudited Financial Results for the Fourth Quarter of 2024Total revenues were RMB164.3 million (US$22.5 million), representing an increase of 190.2% from RMB56.6 million in the fourth quarter of 2023, and an increase of 28.2% from RMB128.1 million in the third quarter of 2024, primarily driven by increased sales volume of EH216 series of revenues were RMB64.6 million (US$8.8 million), compared with RMB20.0 million in the fourth quarter of 2023 and RMB49.7 million in the third quarter of 2024. The year-over-year and quarter-over-quarter increases were in line with the increase in the sales volume of EH216 series profit was RMB99.7 million (US$13.7 million), representing an increase of 172.2% from RMB36.6 million in the fourth quarter of 2023, and an increase of 27.1% from RMB78.4 million in the third quarter of 2024. The year-over-year and quarter-over-quarter increases were primarily due to the increase in the sales volume of EH216 series products. Gross margin was 60.7%, representing a 4.0 percentage points decrease from 64.7% in the fourth quarter of 2023, and a 0.5 percentage points decrease from 61.2% in the third quarter of 2024. The year-over-year and quarter-over-quarter decreases were mainly due to changes in revenue operating expenses were RMB161.4 million (US$22.1 million), compared with RMB114.5 million in the fourth quarter of 2023, and RMB150.7 million in the third quarter of 2024. Sales and marketing expenses were RMB36.2 million (US$5.0 million), compared with RMB20.7 million in the fourth quarter of 2023, and RMB47.3 million in the third quarter of 2024. The year-over-year increase was mainly attributable to increased sales-related compensation and associated share-based compensation expenses due to new grant of share-based awards. The quarter-over-quarter decrease was mainly attributable to lower share-based compensation expenses due to modification of outstanding share-based awards in the third quarter of 2024. General and administrative expenses were RMB69.2 million (US$9.5 million), compared with RMB55.6 million in the fourth quarter of 2023, and RMB59.6 million in the third quarter of 2024. The year-over-year and quarter-over-quarter increases were mainly attributable to increased employee compensation and related share-based compensation expenses due to new grant of share-based awards. Research and development expenses were RMB56.0 million (US$7.7 million), compared with RMB38.1 million in the fourth quarter of 2023, and RMB43.9 million in the third quarter of 2024. The year-over-year and quarter-over-quarter increases were mainly attributable to incremental expenditures on different models of eVTOL aircraft, increased employee compensation and higher share-based compensation expenses due to new grant of share-based operating expenses4 (non-GAAP) were RMB78.2 million (US$10.7 million), representing an increase of 21.8% from RMB64.2 million in the fourth quarter of 2023, and a decrease of 10.1% from RMB86.9 million in the third quarter of 2024. Adjusted sales and marketing expenses4 (non-GAAP), adjusted general and administrative expenses4 (non-GAAP), and adjusted research and development expenses4 (non-GAAP) were RMB18.1 million (US$2.5 million), RMB23.9 million (US$3.3 million) and RMB36.1 million (US$5.0 million) in the fourth quarter of 2024, loss was RMB55.4 million (US$7.6 million), representing a 26.4% improvement from RMB75.2 million in the fourth quarter of 2023, and a slight increase of 1.1% from RMB54.7 million in the third quarter of 2024. Adjusted operating income3 (non-GAAP) was RMB27.9 million (US$3.8 million), compared with adjusted operating loss3 (non-GAAP) of RMB24.9 million in the fourth quarter of 2023, and adjusted operating income3 (non-GAAP) of RMB9.0 million in the third quarter of loss was RMB46.9 million (US$6.4 million), representing a 35.3% improvement from RMB72.5 million in the fourth quarter of 2023, and a 2.6% improvement from RMB48.1 million in the third quarter of 2024. Adjusted net income1 (non-GAAP) was RMB36.4 million (US$5.0 million), compared with adjusted net loss1 (non-GAAP) of RMB22.1 million in the fourth quarter of 2023, and representing an increase of 132.3% from RMB15.7 million in the third quarter of 2024. Adjusted net income attributable to EHang's ordinary shareholders5 (non-GAAP) was RMB36.4 million (US$5.0 million). Adjusted net loss attributable to EHang's ordinary shareholders5 (non-GAAP) in the fourth quarter of 2023 was RMB21.9 million, and adjusted net income attributable to EHang's ordinary shareholders5 (non-GAAP) was RMB15.7 million in the third quarter of and diluted net loss per ordinary share were both RMB0.33 (US$0.05). Adjusted basic net earnings per ordinary share6 (non-GAAP) was RMB0.26 (US$0.035). Adjusted diluted net earnings per ordinary share6 (non-GAAP) was RMB0.25 (US$0.035). Basic and diluted net loss per ADS were both RMB0.66 (US$0.10). Adjusted basic net earnings per ADS7 (non-GAAP) was RMB0.52 (US$0.070). Adjusted diluted net earnings per ADS7 (non-GAAP) was RMB0.50 (US$0.070).Cash and cash equivalents, restricted short-term deposits and short-term investments balances were RMB1,154.9 million (US$158.2 million) as of December 31, 2024. Unaudited Financial Results for the Fiscal Year 2024Total revenues were RMB456.2 million (US$62.5 million), representing an increase of 288.5% from RMB117.4 million in 2023, primarily due to the increase in the sales volume of EH216 series of revenues were RMB176.2 million (US$24.1 million), compared with RMB42.1 million in 2023. The increase was in line with the increase in the sales volume of EH216 series profit was RMB279.9 million (US$38.4 million), representing an increase of 271.7% from RMB75.3 million in 2023. Gross margin was 61.4%, representing a 2.7 percentage points decrease from 64.1% in 2023. The decrease was mainly due to changes in revenue mix and increased cost per unit of the airworthiness certified EH216-S operating expenses were RMB563.2 million (US$77.2 million), compared with RMB377.8 million in 2023. Sales and marketing expenses were RMB131.0 million (US$18.0 million), compared with RMB60.4 million in 2023. The increase was mainly attributable to increased sales-related compensation and associated share-based compensation expenses due to new grant and modification of share-based awards, as well as increased expansion of sales channels. General and administrative expenses were RMB232.7 million (US$31.9 million), compared with RMB150.1 million in 2023. The increase was mainly attributable to increased employee compensation and related share-based compensation expenses due to new grant and modification of share-based awards. Research and development expenses were RMB199.5 million (US$27.3 million), compared with RMB167.3 million in 2023. The increase was mainly attributable to incremental expenditures on different models of eVTOL aircraft, increased employee compensation and related share-based compensation expenses due to new grant and modification of share-based operating expenses4 (non-GAAP) were RMB290.1 million (US$39.7 million), representing an increase of 28.2% from RMB226.3 million in 2023. Adjusted sales and marketing expenses4 (non-GAAP), adjusted general and administrative expenses4 (non-GAAP), and adjusted research and development expenses4 (non-GAAP) were RMB65.4 million (US$9.0 million), RMB97.7 million (US$13.4 million) and RMB126.8 million (US$17.3 million) in 2024, loss was RMB253.4 million (US$34.7 million), representing a 14.5% improvement from RMB296.3 million in operating income3 (non-GAAP) was RMB19.7 million (US$2.7 million), compared with adjusted operating loss3 (non-GAAP) of RMB144.8 million in loss was RMB230.0 million (US$31.5 million), representing an improvement of 23.9% from RMB302.3 million in 2023. Adjusted net income1 (non-GAAP) was RMB43.1 million (US$5.9 million), compared with adjusted net loss1 (non-GAAP) of RMB138.8 million in 2023. Adjusted net income attributable to EHang's ordinary shareholders5 (non-GAAP) was RMB43.3 million (US$5.9 million). Adjusted net loss attributable to EHang's ordinary shareholders5 (non-GAAP) in 2023 was RMB138.2 and diluted net loss per ordinary share were both RMB1.71 (US$0.23). Adjusted basic and diluted net earnings per ordinary share6 (non-GAAP) were both RMB0.32 (US$0.04). Basic and diluted net loss per ADS were both RMB3.42 (US$0.46). Adjusted basic and diluted net earnings per ADS7 (non-GAAP) were both RMB0.64 (US$0.08).Cash and cash equivalents, restricted short-term deposits and short-term investments balances were RMB1,154.9 million (US$158.2 million) as of December 31, 2024. Business Outlook For the fiscal year 2025, the Company expects the total revenues to be around RMB900 million, representing an increase of approximately 97% year-over-year. The above outlook is based on information available as of the date of this press release and reflects the Company's current and preliminary views regarding its business situation and market conditions, which are subject to change. Conference Call EHang's management team will host an earnings conference call at 8:00 AM on Wednesday, March 12, 2025, U.S. Eastern Time (8:00 PM on Wednesday, March 12, 2025, Beijing/Hong Kong Time). To join the conference call via telephone, participants must use the following link to complete an online registration process. Upon registering, each participant will receive email instructions to access the conference call, including dial-in information and a PIN number allowing access to the conference call. Participant Online Registration: English line: line: A live and archived webcast of the conference call will be available on the Company's Investors Relations website at About EHang EHang (Nasdaq: EH) is the world's leading urban air mobility ('UAM') technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle ('UAV') systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang's flagship product EH216-S has obtained the world's first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit Safe Harbor Statement This press release contains statements that may constitute 'forward-looking' statements pursuant to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'aims,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'likely to' and similar statements. Statements that are not historical facts, including statements about management's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause EHang's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Non-GAAP Financial Measures The Company uses adjusted operating expenses, adjusted sales and marketing expenses, adjusted general and administrative expenses, adjusted research and development expenses, adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) attributable to ordinary shareholders, adjusted basic and diluted net earnings (loss) per ordinary share and adjusted basic and diluted net earnings (loss) per ADS (collectively, the 'Non-GAAP Financial Measures') in evaluating its operating results and for financial and operational decision-making purposes. There was no income tax impact on the Company's non-GAAP adjustments because the non-GAAP adjustments are usually recorded in entities located in tax-free jurisdictions, such as the Cayman Islands. The Company believes that the Non-GAAP Financial Measures help identify underlying trends in its business that could otherwise be distorted by the effects of items of (i) share-based compensation expenses and (ii) certain non-operational expenses, such as amortization of debt discounts, which are included in their comparable GAAP measures. The Company believes that the Non-GAAP Financial Measures provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management members in their financial and operational decision-making. The Non-GAAP Financial Measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The Non-GAAP Financial Measures have limitations as analytical tools. One of the key limitations of using the Non-GAAP Financial Measures is that they do not reflect all items of expense that affect the Company's operations. Share-based compensation expenses have been and may continue to be incurred in the business and are not reflected in the presentation of the Non-GAAP Financial Measures. Further, the Non-GAAP Financial Measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the Non-GAAP Financial Measures to the nearest U.S. GAAP measures, all of which should be considered when evaluating the Company's performance. Each of the Non-GAAP Financial Measures should not be considered in isolation or construed as an alternative to its comparable GAAP measure or any other measure of performance or as an indicator of the Company's operating performance or financial results. Investors are encouraged to review the Company's most directly comparable GAAP measures in conjunction with the Non-GAAP Financial Measures. The Non-GAAP Financial Measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. For more information on the Non-GAAP Financial Measures, please see the table captioned 'Unaudited Reconciliations of GAAP and Non-GAAP Results' set forth at the end of this press release. Exchange Rate This press release contains translations of certain RMB amounts into U.S. dollars ('USD') at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred to in this press release could have been converted into USD or RMB, as the case may be, at any particular rate or at all. Investor Contact: ir@ Media Contact: pr@ EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of Renminbi ('RMB') and US dollars ('US$')) As of As of December 31, 2023 December 31, 2024 RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) ASSETS Current assets: Cash and cash equivalents 228,250 610,877 83,690 Short-term deposits 14,397 - - Short-term investments 57,494 513,683 70,374 Restricted short-term deposits 33,942 30,295 4,150 Accounts receivable, net8 34,786 58,180 7,971 Inventories 59,488 75,687 10,369 Prepayments and other current assets 24,691 68,298 9,356 Total current assets 453,048 1,357,020 185,910 Non-current assets: Property and equipment, net 44,623 60,224 8,251 Operating lease right‑of‑use assets, net 74,528 128,433 17,595 Intangible assets, net 2,426 2,617 359 Long-term loans receivable 4,215 - - Long-term investments 18,369 33,764 4,626 Other non-current assets 1,436 2,440 334 Total non-current assets 145,597 227,478 31,165 Total assets 598,645 1,584,498 217,075 EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONT'D)(Amounts in thousands of Renminbi ('RMB') and US dollars ('US$')) As of As of December 31, 2023 December 31, 2024 RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term bank loans 69,798 64,250 8,802 Accounts payable 35,101 127,446 17,460 Contract liabilities9 37,169 62,561 8,571 Current portion of long-term bank loans 3,538 10,500 1,438 Mandatorily redeemable non-controlling interests - 40,000 5,480 Accrued expenses and other liabilities 94,149 150,196 20,577 Current portion of lease liabilities 5,595 12,527 1,716 Deferred income 1,549 1,504 206 Deferred government subsidies 3,147 1,209 166 Income taxes payable 29 150 21 Total current liabilities 250,075 470,343 64,437 Non-current liabilities: Long-term bank loans 9,308 20,500 2,808 Mandatorily redeemable non-controlling interests 40,000 - - Deferred tax liabilities 292 292 40 Unrecognized tax benefit 5,480 5,480 751 Lease liabilities 75,308 125,719 17,223 Deferred income 1,486 - - Other non-current liabilities 2,477 6,350 870 Total non-current liabilities 134,351 158,341 21,692 Total liabilities 384,426 628,684 86,129 Shareholders' equity: Ordinary shares 80 90 12 Additional paid-in capital 1,951,936 2,923,178 400,474 Treasury shares - (10,085 ) (1,382 ) Statutory reserves 1,239 1,772 243 Accumulated deficit (1,754,542 ) (1,984,851 ) (271,923 ) Accumulated other comprehensive income 15,079 25,539 3,499 Total EHang Holdings Limited shareholders' equity 213,792 955,643 130,923 Non-controlling interests 427 171 23 Total shareholders' equity 214,219 955,814 130,946 Total liabilities and shareholders' equity 598,645 1,584,498 217,075 EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Amounts in thousands of Renminbi ('RMB') and US dollars ('US$') except for per share data and per ADS data) Three Months Ended For the Year Ended December31, 2023 September30, 2024 December31, 2024 December31, 2023 December31, 2024 RMB RMB RMB US$ RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Total revenues 56,604 128,128 164,278 22,506 117,426 456,152 62,493 Costs of revenues (19,986 ) (49,713 ) (64,590 ) (8,849 ) (42,115 ) (176,206 ) (24,140 ) Gross profit 36,618 78,415 99,688 13,657 75,311 279,946 38,353 Operating expenses: Sales and marketing expenses (20,712 ) (47,279 ) (36,203 ) (4,960 ) (60,389 ) (131,027 ) (17,951 ) General and administrative expenses (55,626 ) (59,559 ) (69,246 ) (9,487 ) (150,092 ) (232,716 ) (31,882 ) Research and development expenses (38,140 ) (43,866 ) (55,963 ) (7,667 ) (167,315 ) (199,465 ) (27,327 ) Total operating expenses (114,478 ) (150,704 ) (161,412 ) (22,114 ) (377,796 ) (563,208 ) (77,160 ) Other operating income 2,668 17,543 6,358 871 6,233 29,869 4,092 Operating loss (75,192 ) (54,746 ) (55,366 ) (7,586 ) (296,252 ) (253,393 ) (34,715 ) Other income (expense): Interest and investment income 4,339 8,944 12,028 1,648 8,484 30,599 4,192 Interest expenses (682 ) (847 ) (870 ) (119 ) (2,930 ) (3,375 ) (462 ) Amortization of debt discounts - - - - (12,023 ) - - Foreign exchange gain (loss) 697 353 (813 ) (111 ) 394 (1,188 ) (163 ) Other non-operating (expense) income, net (1,948 ) 43 73 10 1,752 2,064 283 Total other income (expense) 2,406 8,493 10,418 1,428 (4,323 ) 28,100 3,850 Loss before income tax and loss from equity method investment (72,786 ) (46,253 ) (44,948 ) (6,158 ) (300,575 ) (225,293 ) (30,865 ) Income tax expenses (74 ) (190 ) (177 ) (24 ) (206 ) (386 ) (53 ) Loss before loss from equity method investment (72,860 ) (46,443 ) (45,125 ) (6,182 ) (300,781 ) (225,679 ) (30,918 ) Income (loss) from equity method investment 399 (1,689 ) (1,752 ) (240 ) (1,560 ) (4,353 ) (596 ) Net loss (72,461 ) (48,132 ) (46,877 ) (6,422 ) (302,341 ) (230,032 ) (31,514 )EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONT'D) (Amounts in thousands of Renminbi ('RMB') and US dollars ('US$') except for per share data and per ADS data) Three Months Ended For the Year Ended December31, 2023 September30, 2024 December31, 2024 December31, 2023 December31, 2024 RMB RMB RMB US$ RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss (72,461 ) (48,132 ) (46,877 ) (6,422 ) (302,341 ) (230,032 ) (31,514 ) Net loss attributable to non-controlling interests 197 76 19 3 641 256 35 Net loss attributable to ordinary shareholders (72,264 ) (48,056 ) (46,858 ) (6,419 ) (301,700 ) (229,776 ) (31,479 ) Net loss per ordinary share: Basic and diluted (0.58 ) (0.35 ) (0.33 ) (0.05 ) (2.48 ) (1.71 ) (0.23 ) Shares used in net loss per ordinary share computation (in thousands of shares): Basic 125,431 137,807 141,307 141,307 121,494 134,367 134,367 Diluted 125,431 137,807 141,307 141,307 121,494 134,367 134,367 Loss per ADS (2 ordinary shares equal to 1 ADS)Basic and diluted (1.16 ) (0.70 ) (0.66 ) (0.10 ) (4.96 ) (3.42 ) (0.46 ) Other comprehensive (loss) income Foreign currency translation adjustments net of nil tax (4,525 ) (13,053 ) 19,946 2,733 69 10,460 1,433 Total other comprehensive (loss) income, net of tax (4,525 ) (13,053 ) 19,946 2,733 69 10,460 1,433 Comprehensive loss (76,986 ) (61,185 ) (26,931 ) (3,689 ) (302,272 ) (219,572 ) (30,081 ) Comprehensive loss attributable to non-controlling interests 197 76 19 3 641 256 35 Comprehensive loss attributable to ordinary shareholders (76,789 ) (61,109 ) (26,912 ) (3,686 ) (301,631 ) (219,316 ) (30,046 ) EHANG HOLDINGS LIMITEDUNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of Renminbi ('RMB') and US dollars ('US$') except for per share data and per ADS data) Three Months Ended For the Year Ended December31, 2023 September30, 2024 December31, 2024 December31, 2023 December31, 2024 RMB RMB RMB US$ RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sales and marketing expenses (20,712 ) (47,279 ) (36,203 ) (4,960 ) (60,389 ) (131,027 ) (17,951 ) Plus: Share-based compensation 4,585 26,963 18,092 2,479 18,958 65,597 8,987 Adjusted sales and marketing expenses (16,127 ) (20,316 ) (18,111 ) (2,481 ) (41,431 ) (65,430 ) (8,964 ) General and administrative expenses (55,626 ) (59,559 ) (69,246 ) (9,487 ) (150,092 ) (232,716 ) (31,882 ) Plus: Share-based compensation 37,144 28,281 45,334 6,211 79,327 134,984 18,493 Adjusted general and administrative expenses (18,482 ) (31,278 ) (23,912 ) (3,276 ) (70,765 ) (97,732 ) (13,389 ) Research and development expenses (38,140 ) (43,866 ) (55,963 ) (7,667 ) (167,315 ) (199,465 ) (27,327 ) Plus: Share-based compensation 8,589 8,551 19,833 2,716 53,200 72,543 9,938 Adjusted research and development expenses (29,551 ) (35,315 ) (36,130 ) (4,951 ) (114,115 ) (126,922 ) (17,389 ) Operating expenses (114,478 ) (150,704 ) (161,412 ) (22,114 ) (377,796 ) (563,208 ) (77,160 ) Plus: Share-based compensation 50,318 63,795 83,259 11,406 151,485 273,124 37,418 Adjusted operating expenses (64,160 ) (86,909 ) (78,153 ) (10,708 ) (226,311 ) (290,084 ) (39,742 ) Operating loss (75,192 ) (54,746 ) (55,366 ) (7,586 ) (296,252 ) (253,393 ) (34,715 ) Plus: Share-based compensation 50,318 63,795 83,259 11,406 151,485 273,124 37,418 Adjusted operating (loss) income (24,874 ) 9,049 27,893 3,820 (144,767 ) 19,731 2,703 EHANG HOLDINGS LIMITEDUNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (CONT'D) (Amounts in thousands of Renminbi ('RMB') and US dollars ('US$') except for per share data and per ADS data) Three Months Ended For the Year Ended December31, 2023 September30, 2024 December31, 2024 December31, 2023 December31, 2024 RMB RMB RMB US$ RMB RMB US$ (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss (72,461 ) (48,132 ) (46,877 ) (6,422 ) (302,341 ) (230,032 ) (31,514 ) Plus: Share-based compensation 50,318 63,795 83,259 11,406 151,485 273,124 37,418 Plus: Amortization of debt discounts - - - - 12,023 - - Adjusted net (loss) income (22,143 ) 15,663 36,382 4,984 (138,833 ) 43,092 5,904 Net loss attributable to ordinary shareholders (72,264 ) (48,056 ) (46,858 ) (6,419 ) (301,700 ) (229,776 ) (31,479 ) Plus: Share-based compensation 50,318 63,795 83,259 11,406 151,485 273,124 37,418 Plus: Amortization of debt discounts - - - - 12,023 - - Adjusted net (loss) income attributable to ordinary shareholders (21,946 ) 15,739 36,401 4,987 (138,192 ) 43,348 5,939 Shares used in net (loss) earnings per ordinary share computation (in thousands of shares): Basic 125,431 137,807 141,307 141,307 121,494 134,367 134,367 Diluted 125,431 140,516 143,959 143,959 121,494 135,835 135,835 Adjusted basic net (loss) earnings per ordinary share (0.17 ) 0.11 0.26 0.035 (1.14 ) 0.32 0.04 Adjusted diluted net (loss) earnings per ordinary share (0.17 ) 0.11 0.25 0.035 (1.14 ) 0.32 0.04 Adjusted basic net (loss) earnings per ADS (0.34 ) 0.22 0.52 0.070 (2.28 ) 0.64 0.08 Adjusted diluted net (loss) earnings per ADS (0.34 ) 0.22 0.50 0.070 (2.28 ) 0.64 0.08 ________________________1 Adjusted net income (loss) is a non-GAAP financial measure, which is defined as net income (loss) excluding share-based compensation expenses and certain non-operational expenses. Net loss was RMB46.9 million (US$6.4 million) in the fourth quarter of 2024. Net loss was RMB230.0 million (US$31.5 million) in the fiscal year 2024. See 'Non-GAAP Financial Measures' below. 2 The EH216 series electric vertical take-off and landing ('eVTOL') aircraft include EH216-S, the standard model for passenger transportation, EH216-F model for aerial firefighting, and EH216-L model for aerial logistics. 3 Adjusted operating income (loss) is a non-GAAP financial measure, which is defined as operating income (loss) excluding share-based compensation expenses. See 'Non-GAAP Financial Measures' below. 4 Adjusted operating expenses is a non-GAAP financial measure, which is defined as operating expenses excluding share-based compensation expenses. Adjusted sales and marketing expenses, adjusted general and administrative expenses, and adjusted research and development expenses, are non-GAAP financial measures, each defined, respectively, as sales and marketing expenses, general and administrative expenses, and research and development expenses, excluding share-based compensation expenses. See 'Non-GAAP Financial Measures' below.5 Adjusted net income (loss) attributable to EHang's ordinary shareholders is a non-GAAP financial measure, which is defined as net income (loss) attributable to EHang's ordinary shareholders excluding share-based compensation expenses and certain non-operational expenses. See 'Non-GAAP Financial Measures' below.6 Adjusted basic and diluted net earnings (loss) per ordinary share is a non-GAAP financial measure, which is defined as basic and diluted net earnings (loss) per ordinary share excluding share-based compensation expenses and certain non-operational expenses. See 'Non-GAAP Financial Measures' below.7 Adjusted basic and diluted net earnings (loss) per ADS is a non-GAAP financial measure, which is defined as basic and diluted earnings (loss) per ADS excluding share-based compensation expenses and certain non-operational expenses. See 'Non-GAAP Financial Measures' below.8 As of December 31, 2023 and December 31, 2024, amount due from a related party of RMB1,700 and RMB458 (US$63) was included in accounts receivable, net, respectively.9 As of December 31, 2023 and December 31, 2024, amount due to a related party of RMB2,000 and RMB2,000 (US$274) are included in contract liabilities, in to access your portfolio
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05-03-2025
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EHang to Report Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results on Wednesday, March 12, 2025
GUANGZHOU, China, March 05, 2025 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) ('EHang' or the 'Company'), the world's leading Urban Air Mobility ('UAM') technology platform company, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024 on Wednesday, March 12, 2025, before the U.S. market opens. EHang's management team will host an earnings conference call at 8:00 AM on Wednesday, March 12, 2025, U.S. Eastern Time (8:00 PM on Wednesday, March 12, 2025, Beijing/Hong Kong Time). To join the conference call via telephone, participants must use the following link to complete an online registration process. Upon registering, each participant will receive email instructions to access the conference call, including dial-in information and a PIN number allowing access to the conference call. Participant Online Registration: English line: Chinese line: A live and archived webcast of the conference call will be available on the Company's Investors Relations website at About EHangEHang (Nasdaq: EH) is the world's leading urban air mobility ('UAM') technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle ('UAV') systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang's flagship product EH216-S has obtained the world's first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit Safe Harbor StatementThis press release contains statements that may constitute 'forward-looking' statements pursuant to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'aims,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'likely to' and similar statements. Statements that are not historical facts, including statements about management's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause EHang's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Investor Contact: ir@ Contact: pr@ in to access your portfolio
