Ehang Holdings Ltd Stock Price, News & Analysis

EHang Holdings (Nasdaq: EH) announced preliminary Q4 2024 revenues expected to reach RMB162 million, surpassing guidance by 20% and showing a 187% year-over-year increase from Q4 2023's RMB56.6 million. The company's fiscal year 2024 revenues are projected to hit RMB454 million, exceeding guidance by 6% and marking a 287% increase from 2023's RMB117.4 million.

The strong performance is attributed to heightened market demand for their EH216-S pilotless passenger-carrying aerial vehicles, achievement of key operational milestones, and growing business momentum.

EHang Holdings (Nasdaq: EH) announced a strategic partnership with China Communications Information & Technology Group (CCIT), a subsidiary of China Communications Construction Group, to develop digital Urban Air Mobility infrastructure and transportation hubs. The collaboration aims to establish 100 intra-city and inter-city air traffic terminals and 100 low-altitude tourism terminals in National 5A Scenic Areas over three years from 2025.

The partnership focuses on developing digital UAM infrastructure incorporating technologies like 5G, 6G, satellite communications, and high-precision navigation. They will create an intelligent low-altitude platform integrating air traffic infrastructure, aerial routes, communications, airspace management, and low-altitude service networks. The collaboration includes plans for flight data centers, dedicated communications networks, and integrated flight platforms.

EHang Holdings (Nasdaq: EH) has signed a project cooperation agreement with Weihai High-Tech Zone in Shandong Province to develop a comprehensive pilotless eVTOL industrial ecosystem. The partnership includes a purchase agreement for 30 units of EH216-S pilotless passenger eVTOLs, with full payment already completed.

The collaboration will establish an eVTOL manufacturing base in Shandong and develop a low-altitude economy industrial park. The project aims to integrate low-altitude tourism services with scenic sightseeing at locations including Weihai International Beach, Xiaoshi Island, and Torch Eight Streets.

This initiative aligns with Shandong Province's Three-Year Action Plan (2025-2027), which targets establishing 400 digital low-altitude aircraft platforms, over 10 benchmark application scenarios, and more than 50 intra-city unmanned aerial vehicle flight routes, with the province's low-altitude economy scale targeting RMB100 billion by 2027.

EHang Holdings (Nasdaq: EH) has announced a strategic partnership with Changan Automobile to develop flying cars and eVTOL aircraft. The collaboration will focus on research, development, manufacturing, sales, and operation of flying car-related products. Changan Automobile plans to invest over 20 billion yuan in the low-altitude economy sector over the next five years, and more than 100 billion yuan over the next decade for integrated mobility solutions.

The partnership aims to combine EHang's expertise in aerial vehicles and low-altitude flight management with Changan's manufacturing capabilities and automotive market presence. The companies plan to establish a joint venture focused on future mobility ecosystem technologies, targeting the C-end customer base. According to CAAC data, China's low-altitude economy exceeded 500 billion yuan in 2023 and is expected to reach 2 trillion yuan by 2030.

EHang Holdings (Nasdaq: EH) has announced a US$30 million Share Repurchase Program over the next 12 months for its American Depositary Shares or ordinary shares. The repurchases will be executed through open market transactions, private negotiations, block trades, or other legal means at prevailing market prices. The program's timing and volume will be determined by management based on market conditions, working capital requirements, and other factors. The company plans to fund the buyback using existing cash and operational cash flow.

EHang reported record-high Q3 2024 financial results with revenues reaching RMB128.1 million (US$18.3 million), up 347.8% YoY. The company delivered 63 units of EH216 series products, its highest quarterly delivery volume. Gross margin was 61.2%. The company achieved adjusted operating income of RMB9.0 million and adjusted net income of RMB15.7 million. EHang secured strategic PIPE investment over US$22 million and maintained positive operating cash flow for the fourth consecutive quarter. The company made significant progress in various Chinese cities, establishing UAM hubs and securing new orders from KC Smart Mobility and Sunriver.

EHang Holdings (Nasdaq: EH) has signed a cooperation agreement with Sunriver (600576.SH) for expanding into China's cultural tourism market. Sunriver plans to purchase 50 units of EH216-S pilotless passenger-carrying aircraft, with an initial order of 5 units for aerial tourism. The aircraft will be deployed across Sunriver's 40+ tourist attractions in China, including notable locations like Bailong Elevator and Huanglong Cave. Sunriver has established a dedicated subsidiary, Sunriver General Aviation, to implement aerial sightseeing services using EHang's eVTOL aircraft. EHang will provide technical support and operational guidance to help create smart low-altitude tourism models.

EHang Holdings announced a strategic investment of over US$22 million from Zhuhai Enpower Electric and a UAE-based strategic institutional investor. Both investors agreed to a 180-day lock-up period. Enpower's investment builds on their partnership to co-develop electric motor drive systems for EHang's eVTOL aircraft. The UAE investor, representing one of EHang's largest international markets with 100 units ordered and 5 delivered, will support expansion in the Middle East and Southeast Asia. This brings EHang's total 2024 financing to nearly US$100 million. The funds will support next-generation technologies, production scaling, team expansion, new facilities, and corporate activities.

EHang Holdings (Nasdaq: EH) announced a breakthrough in solid-state battery technology for its EH216-S eVTOL aircraft, developed in collaboration with Inx Energy Technology. The aircraft completed a 48-minute continuous flight test, marking the first pilotless passenger-carrying eVTOL to fly with a solid-state battery. The new battery technology improves flight endurance by 60%-90% with an energy density of 480Wh/kg. The battery features enhanced thermal stability, reduced flammability, and improved maintenance-free qualities. EHang aims to achieve large-scale production of certified solid-state batteries for the EH216-S by the end of 2025, with plans to extend flight time to 60 minutes.