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EHang Holdings Limited develops and manufactures pilotless electric vertical takeoff and landing aircraft and related advanced air mobility technology. News about EH centers on the EH216-S human-carrying eVTOL, its Civil Aviation Administration of China type, production and standard airworthiness certificates, and the Air Operator Certificate framework supporting pilotless passenger services in China.
Recurring updates also cover eVTOL sales and deliveries, quarterly financial results, VT35 development for longer-range and intercity scenarios, overseas demonstrations and regulatory sandbox activity, and UAV fleet performances using GHOSTDRONE 4.0 through EHang Egret. Company announcements also include technology leadership, R&D, manufacturing, quality systems and supply-chain developments tied to commercialization of autonomous air mobility.
EHang Holdings Limited (Nasdaq: EH) has appointed PricewaterhouseCoopers Zhong Tian LLP (PwC) as its new independent registered public accounting firm, effective November 29, 2021. This change follows a thorough evaluation process and has been approved by the Audit Committee and Board of Directors. PwC succeeds Ernst & Young Hua Ming LLP (EY), which provided audit services without any adverse opinions for the years ended December 31, 2019, and 2020. The transition aims to enhance the transparency and integrity of EHang's financial reporting.
EHang Holdings Limited (Nasdaq: EH) will release its financial results for Q3 2021 on December 2, 2021, before U.S. market opens. A conference call with the management team is scheduled for 8:00 AM ET on the same day. Investors can register for the call using an online link and access conference details upon registration. An archived version of the call will be available on the company’s investor relations website until December 10, 2021. EHang is a leader in autonomous aerial vehicle technology, focusing on safe, eco-friendly air mobility solutions.
EHang Holdings Limited (Nasdaq: EH) has partnered with Shenzhen Expressway Operation and Development Company to enhance urban air mobility and integrate expressway networks. The collaboration focuses on deploying UAV command-and-control systems for applications such as road inspections and emergency rescues. This initiative is part of EHang's 100 Air Mobility Routes Initiative, aiming to innovate smart city transportation solutions. Both parties have established an AAV command-and-control platform, laying a technological foundation for future advancements in the urban air mobility sector.
The 130th China Import and Export Fair commenced on October 14, 2021, in Guangzhou, with Chinese Premier Li Keqiang attending and visiting EHang's booth. EHang showcased its autonomous aerial vehicle (AAV) solutions, highlighting their eco-friendly benefits for tourism, logistics, and emergency services. Premier Li urged EHang to prioritize product safety and competitiveness, emphasizing the role of innovation in national success. This year's participation marks EHang's debut at the Canton Fair, a significant platform for international trade, as the company aims to promote urban air mobility.
EHang Holdings Limited (Nasdaq: EH) has partnered with the Spanish National Police to explore the use of autonomous aerial vehicles (AAVs) for emergency and security operations. This collaboration was announced during the Expodronica event in Madrid, where EHang showcased its EHang 216 passenger-grade AAV. The initiative aims to enhance public safety through trial flights and utilize AAV technology in various policing scenarios, including rescue missions and surveillance. EHang emphasizes the significance of this collaboration for advancing eco-friendly mobility solutions for the public sector.
EHang Holdings Limited (Nasdaq: EH) revealed its VT-30 dual-seat autonomous aerial vehicle at the Jiuzhou Airport, marking its entry into the inter-city air mobility sector. The VT-30 features hybrid lift capabilities, designed for a flight distance of 300 km and a duration of 100 minutes. EHang aims to enhance urban air mobility with this new model, complementing the existing EHang 216. The company received two awards recognizing its contributions to the UAV industry at the 2021 General Aviation Night event.
EHang Holdings Limited (Nasdaq: EH) has partnered with Shenzhen East General Aviation (HELI-EASTERN) to advance urban air mobility (UAM) operations in the Greater Bay Area, China. This collaboration aims to establish a pilot project for integrated airspace for both helicopters and AAVs, following the national transportation guidelines issued in February 2021. Demonstrations of flight operations were successfully conducted, showcasing the capabilities of EHang's 216 AAV alongside HELI-EASTERN's helicopter. This partnership marks a significant step in implementing EHang's 100 Air Mobility Routes Initiative.
EHang Holdings Limited (Nasdaq: EH) has announced its inclusion in the FTSE Russell Global Equity Index Series, effective after the close of business on September 17, 2021. This marks a significant achievement as it will be part of multiple indexes including the FTSE Global Small Cap Index and FTSE Global All-Cap Index. This recognition follows EHang's earlier inclusion in the MSCI China Small Cap and All Shares Small Cap Indexes. The company's CFO highlighted this as a testament to its business performance and growth potential, underscoring a commitment to long-term sustainable growth.
EHang Holdings Limited (Nasdaq: EH) has successfully completed Beyond Visual Line of Sight (BVLOS) trial flights for its EHang 216 passenger-grade AAV and Falcon logistics model in Estonia. The flights were part of the European Union's GOF 2.0 project, showcasing urban air mobility and integrated operations of unmanned aerial vehicles. The Estonian Transport Administration has issued a special permit for these flights until the end of 2021. EHang aims to further develop unmanned aerial systems, enhancing safety and eco-friendliness in air transport.
EHang Holdings Limited (Nasdaq: EH) reported its Q2 2021 unaudited financial results, revealing a 65.9% year-over-year decline in revenues, totaling RMB12.2 million (US$1.9 million). This decrease stems from a strategic shift to an operation platform-oriented model. However, the gross margin increased to 68%, up 10.4 percentage points year-over-year, primarily due to a high-margin smart city project. Operating loss ballooned to RMB74.9 million (US$11.6 million), compared to RMB19.2 million in Q2 2020. EHang continues to prioritize the certification of its AAV products and has commenced operations at its new Yunfu production facility.