EHang Holdings Limited
Q4 2023 and FY2023 Operational & Financial
Highlights
March 15, 2024
www.ehang.com
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Disclaimer
These materials have been prepared by EHang Holdings Limited (the "Company") solely for informational purposes and have not been independently verified. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness, completeness or correctness of the information or opinions presented or contained in these materials. None of the Company, its subsidiaries, affiliates, controlling persons, directors, supervisors, officers, partners, employees, advisors, and representatives of any of the foregoing shall have any responsibility or liability whatsoever, as a result of negligence or otherwise, for any loss howsoever arising from any information or opinions presented or contained in or derived from these materials. The information and opinions presented or contained in these materials is subject to change without notice and shall only be considered current as of the date of the presentation.
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Business Highlights for Q4 2023 and Recent Updates
- Quarterly Revenues Increased by 260.9% YoY, 97.8% QoQ, Fiscal Year Revenues Increased by 165.0%
- Maintained Stable and High Gross Margin
- Achieved Positive Operating Cash Flow in the Fourth Quarter of 2023
- Obtained the World's First Pilotless Passenger-Carrying eVTOL Type Certificate ("TC") and Standard Airworthiness Certificate ("AC") for EH216-S from the CAAC
- Moved Forward eVTOL Sales and Operations
- Partnered with GAC Group to Strengthen Capability for Future Production
- Expanded to UAE Market
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The First and Only eVTOL to Obtain TC and Standard AC
- EH216-Shas obtained Type Certificate ("TC") and Standard Airworthiness Certificate ("AC") from the Civil Aviation Administration of China ("CAAC") in 2023, which are the world's first TC and AC for pilotless passenger-carrying eVTOL.
- The certifications demonstrate the EH216-S's full compliance with safety standards and airworthiness requirements set by the CAAC.
- As a result, the EH216-S currently holds official approval for passenger-carrying commercial operations in China.
The journey to obtain EH216-S TC
1,000+ days and nights
500+ parameters
40,000+ trial flights
Extensive laboratory, ground and flight tests of 65 categories and 450+ individual test items
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Strong Quarterly and Yearly Revenue Growth
Ø For the Fourth Quarter of 2023 | Ø For the FY2023 |
Revenue | YoY increase |
56.6Million RMB | 260.9% |
QoQ increase | |
97.8% | |
RMB Million | |
Growth Margin | Delivery |
64.7% | 23units |
EH216 series product |
Achieved Positive Operating Cash Flow in Q4, 2023
Revenue
YoY increase
117.4Million RMB 165.0%
Growth Margin | Delivery |
64.1% | 52units |
EH216 series product |
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China Favorable Policies and Regulations Supporting UAM / Low-Altitude Economy
National Policies
Regulations
Oct. 2023
To put eVTOL aircraft into commercial use by 2025
Green Aviation Manufacturing Industry Development Outline (2023-2035)
Effective from Jan. 2024
The first special administrative
regulation of UAVs
Interim Measures for the Flight Management of UAVs
Dec. 2023
Escalated low-altitude economy to be a strategic emerging industry
2023 Central Economic Work Conference
Dec. 2023
Reform of China's Low-altitude
Airspace Management
National Airspace Classification
Mar. 2024
Highlighted low-altitude economy as
a new growth engine
2024 National Government Work Report
Effective from Jan. 2024
Regulation of certification, operator, operation of UAVs
Safety Management Rules for Operation of UAVs
Local Government
Policies
Approximately 20 provinces across the country have prioritized the development of the low-altitude economy in 2024, leading to implementation of favorable policies and regulations, attractive funding and subsidies, infrastructure supports and suitable sites for eVTOL operations, and paving the way for establishing a sustainable low-altitude ecosystem.
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EHang Pioneers China UAM Operations in Shenzhen
"Measures to Promote the High-Quality Development of Low-Altitude Economy in Shenzhen"
By 2025, Shenzhen plans to establish over 600 landing platformsfor low-altitude aerial vehicles and set up more than 220 flight routeswithin Shenzhen*
- July 2023: strategic partnership with Bao'an DistrictGovernment of Shenzhen
- February 2024: strategic partnership with the Bureau of Culture, Radio, Television, Tourism and Sports of Luohu District, Shenzhen
Shenzhen Bolinghas purchased 5 unitsof EH216-S from EHang, and plans to purchase additional 95 unitsfor future use in Shenzhen
(UAM Operation Demonstration Center at OH Bay, Bao'an District)
(Layout design of Luohu District UAM Operation Center)
* Source: Xinhua News
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EHang Pioneers China UAM Operations in Guangzhou
"The Detailed Rules for Implementation of Measures to Promote the High-Quality Development of the Low-Altitude Economy in Guangzhou Development District (Huangpu District)"
With subsidies up to RMB 30 millionfor eligible low- altitude industrial projects
The EH216-S was deployed in Jiulong Lake Park, and more operation sites and flight routesfor aerial sightseeing and logistics in planning
Guangzhou development district low-altitudeindustry fundwith the target fund size of RMB 10
billionwas set up by Guangzhou Development District Communications Investment Group Co., Ltd. and Guangzhou Industrial Investment Capital
(EH216-S conducted demo flights at Jiulong Lake Park)
(Planning map of the Sino-Singapore Guangzhou Knowledge City, where Jiulong Lake Park locates)
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EHang Pioneers China UAM Operations in Hefei
"The Action Plan for Low-Altitude Economic Development of Hefei (2023-2025) with 20 guidelines"
Proposed to build a low-altitude economy cluster, a testing and airworthiness certification base, a flight service and management platform, and set up commercial flight routes for aerial tourism and logistics, etc.
In October 2023, EHang entered into a strategic cooperationagreement with the Hefei Municipal Governmentfor joint development of a low-altitude economy ecosystem in Hefei.
The Hefei Municipal Government plans to extend support to EHang in various forms with a target amount of US$100 million. The support will be provided either through the coordination or facilitation of purchase orders for a
minimum of 100 units of EH216 series products, and/or by providing financing support*
* The specific timing, amount and type of support will be subject to additional definitive agreement.
(EH216-S conducted demo flights at Luogang Central Park in Hefei)
(Luogang Central Park, the world's largest city central park, 12.7 square kilometers, 300,000 daily visitors during holidays)
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EHang Pioneers China UAM Operations in Wuxi
In March 2023, EHang cooperated with the local government in Wuxi for UAM.
EHang received intentional purchase orders for 100 unitsof EH216-S.
The local governments will provide comprehensive support for EHang's eVTOL future operations in Wuxi for various use cases including passenger transportation, aerial sightseeing, firefighting and emergency.
(The Ancient Grand Canal Tourism Resort Area in Wuxi)
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EHang Holdings Ltd. published this content on 15 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2024 10:28:52 UTC.