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
second quarter ended June 30, 2024.
Financial and Operational Highlights for the Second
Quarter 2024
- Sales and deliveries of
EH216 series products1 were 49 units, the
highest quarterly delivery volume in the Company’s history,
compared with 5 units in the second quarter of 2023, and 26 units
in the first quarter of 2024.
- Total revenues
reached a record high of RMB102.0 million (US$14.0 million),
representing an increase of 919.6% from RMB10.0 million in the
second quarter of 2023, and an increase of 65.3% from RMB61.7
million in the first quarter of 2024.
- Gross margin was
62.4%, representing a 2.2 percentage points increase from 60.2% in
the second quarter of 2023, and a 0.5 percentage points increase
from 61.9% in the first quarter of 2024.
- Operating loss was
RMB77.4 million (US$10.7 million), representing a slight increase
of 2.8% from RMB75.3 million in the second quarter of 2023 and an
increase of 17.6% from RMB65.8 million in the first quarter of
2024.
- Adjusted operating
loss2 (non-GAAP) was
RMB4.7 million (US$0.6 million), representing a 90.9% improvement
from RMB51.3 million in the second quarter of 2023, and a 62.9%
improvement from RMB12.6 million in the first quarter of 2024.
- Net loss was
RMB71.6 million (US$9.9 million), representing a 5.4% improvement
from RMB75.7 million in the second quarter of 2023, and a 13.0%
increase from RMB63.4 million in the first quarter of 2024.
- Adjusted net
income3 (non-GAAP) was
RMB1.2 million (US$0.2 million), compared with adjusted net loss of
RMB51.8 million in the second quarter of 2023, and adjusted net
loss of RMB10.1 million in the first quarter of 2024.
- Cash and cash equivalents,
short-term deposits, restricted short-term deposits and short-term
investments balances were RMB988.2 million (US$136.0
million) as of June 30, 2024.
- Positive cash flow from
operations continued in the second quarter of 2024. This
was the third consecutive quarter that the Company generated
positive cash flow from operations.
- Gross proceeds raised
through the at-the-market equity offering4 was RMB554.1
million (US$76.2 million) as of the date of this press release. The
proceeds from the offering bolstered the Company’s liquidity
position for driving its next stage of development and growth
strategy in the global UAM industry. With the bolstered liquidity
position, the Company will not continue selling ADSs under its
at-the-market program for the remainder of 2024. The proceeds
already raised will be used for the Company’s research and
development of next-generation technologies and products, team and
production expansion, new headquarters, commercial operations,
other working capital needs and general corporate purposes.
Business Highlights for the Second Quarter 2024 and
Recent Developments
- Secured EH216-S Production
Certificate from CAAC and Production Ramping Up
Steadily
In April 2024, EHang obtained the world’s
first-of-its-kind Production Certificate (“PC”) issued by the Civil
Aviation Administration of China (“CAAC”) for the Company’s
self-developed EH216-S passenger-carrying pilotless electric
vertical takeoff and landing (“eVTOL”) aircraft. CAAC issued the PC
to EHang following its approval of the Type Certificate (“TC”) and
the Standard Airworthiness Certificate (“AC”) for the EH216-S. The
PC allows EHang to mass produce the EH216-S at its production
facility in Yunfu, Guangdong province, China. Leveraging its
reliable production capabilities and quality management system,
EHang is steadily increasing production to meet the demands of its
expanding order book and customer delivery requirements.
- Secured RMB113 Million
Order for 50 Units of EH216-S and Purchase Plan for Additional 450
Units in Shanxi, North China, and Delivered 10 Units
In May 2024, EHang signed a memorandum of
understanding (“MoU”) with Taiyuan Xishan Ecological Tourism
Investment Construction Co., Ltd. (“Xishan Tourism”) to co-develop
a low-altitude economy industrial park in Taiyuan City, Shanxi
Province, China. The Company has received a purchase order and full
payment of RMB113 million (US$15.5 million) for 50 units of EH216-S
and has signed a purchase plan and distribution agreement with a
subsidiary of Xishan Tourism for an additional 450 units of EH216-S
in the next two years. The products are planned to be deployed for
aerial tourism, passenger transportation, and other low-altitude
use cases to facilitate adoption and operations of pilotless eVTOL
aircraft in North China. EHang has delivered the first batch of 10
units to Xishan Tourism in the second quarter of 2024, and
completed passenger-carrying flights for aerial sightseeing at the
Paddy Field Park in Taiyuan in July 2024.
- Secured Order for 30 Units
of EH216-S and Purchase Plan for Additional 270 Units in Zhejiang,
East China, and Delivered 27 Units
In June 2024, EHang signed a cooperation
agreement with the government of Wencheng County, Wenzhou City,
Zhejiang Province, China, to jointly develop UAM and supporting
public service ecosystem for the low-altitude economy. As part of
this cooperation, Wencheng County Transportation Development Group
Co., Ltd. signed a purchase agreement with EHang, and made full
payment for 30 units of EH216-S, which will be used to provide
aerial sightseeing flight services at local natural landscape.
Meanwhile, it also signed a purchase plan and distribution
agreement with prepayment for additional 270 units by the end of
2026, with the goal of expanding its business across Zhejiang
province. In the second quarter of 2024, 27 units were delivered to
the customer, and passenger-carrying flights were carried out for
aerial sightseeing tours over the renowned Tianding Lake at the
Baizhangji Fall and Feiyun Lake Scenic Resort in Wencheng.
- Partnered with KC Smart
Mobility with Purchase Plan for 30 Units of EH216-S to Advance Sale
and Tourism and Travel Operations in Hong Kong, Macau and Hubei
Province in China
In July 2024, EHang signed a purchase and
operations cooperation agreement with KC Smart Mobility Company
Limited (“KC Smart Mobility”), a subsidiary of Kwoon Chung Bus
Holdings Limited (“KCBH”) (0306.HK), Hong Kong’s largest
non-franchised bus operator, providing passenger transport services
between mainland China and Hong Kong, as well as local transport
and tourism services in Hong Kong and other locations. KC Smart
Mobility plans to purchase a total of 30 units of EH216-S from
EHang for tourism and travel operations in Hong Kong, Macau, as
well as the cities of Xiangyang and Shiyan in China’s Hubei
Province by the end of 2026. Previously, as part of the 30 units
purchase plan, the first order of five units has been placed and
delivered to Hubei for aerial sightseeing uses in the first quarter
of 2024.
- Pilotless eVTOL Air
Operator Certificate Applications Accepted by CAAC
In July 2024, CAAC formally accepted the Air
Operator Certificate (“AOC” or “OC”) applications submitted
separately by Guangdong EHang General Aviation Co., Ltd. (“EHang
General Aviation”), EHang’s wholly-owned subsidiary specializing in
UAM operation services, and Hefei Heyi Aviation Co., Ltd. (“Heyi
Aviation”), a joint venture company formed by EHang General
Aviation in Hefei. As the world's first OC project for pilotless
passenger-carrying eVTOL aircraft, it is paving the way for
creating the world's first commercial operation standard, laying a
solid foundation for EH216-S commercial operations in China.
Currently, the CAAC review team has completed the review of the
required application documents, and next will conduct operational
site review in Hefei. The Company anticipates the first OC to be
obtained within this year. In addition, EHang is supporting its
customers and partners in Guangzhou, Shenzhen, Taiyuan, and Wuxi to
actively prepare for their own OC applications, so as to accelerate
the launching of EH216-S commercial operations and low-altitude
economy demonstration projects in more cities across China.
- Formed Strategic
Partnership with China Southern Airlines General Aviation for
Collaborative eVTOL Operations
In June 2024, EHang signed a strategic MoU with
China Southern Airlines General Aviation Company Limited, a Chinese
leading general aviation service provider and a strategic emerging
business unit of China Southern Airlines Company Limited. The
partnership will center on flight operations, comprehensive
support, and other aspects of EHang’s pilotless eVTOLs to jointly
cultivate innovative solutions for low-altitude economy. The two
parties plan to establish EH216-S operation demonstration sites for
low-altitude tourism at the Zhuhai Jiuzhou Airport and the Zhuhai
Chimelong Ocean Kingdom, among other popular tourist destinations
in Zhuhai, with the aim to launch routine low-altitude flight
services and experiential activities.
- Expansion in Middle East
Market: Strategic Collaboration with MLG and ADIO in UAE, Debut
Flights in UAE and Saudi Arabia
In April 2024, EHang signed a trilateral
agreement with Multi Level Group (“MLG”), a leading fintech Company
in the Middle East and North Africa (“MENA”) region, and the Abu
Dhabi Investment Office (“ADIO”) to drive autonomous eVTOL
development in the UAE and beyond.
In May 2024, EHang successfully completed the
first passenger-carrying autonomous eVTOL flight in Abu Dhabi with
its EH216-S, as well as debut flights with the EH216-F high-rise
firefighting model and the EH216-L aerial logistics model,
following its initial delivery of the 5 units of EH216 series eVTOL
products to Wings Logistics Hub, the passenger eVTOLs (smart
mobility) and logistics tech subsidiary of Technology Holding
Company, being the technology arm of EIH Ethmar International
Holding in the first quarter of 2024.
In June 2024, EH216-S further completed its
first autonomous air taxi flight in Mecca, Saudi Arabia. Partnering
with EHang’s customer Front End Limited Company (“Front End”), a
Saudi-based enterprise specializing in advanced solutions for
various industries, this flight highlighted the transformative
potential of pilotless eVTOL aircraft for the region’s
transportation system.
- Formed Strategic
Partnership with GBT to Jointly Develop World’s First
Ultra-Fast/eXtreme Fast Charging Battery Solutions for EHang’s
eVTOL Products
In April 2024, EHang established a strategic
partnership with Guangzhou Greater Bay Technology Co., Ltd.
(“GBT”), a Chinese leading ultra-fast charging battery provider
incubated by Guangzhou Automobile Group, for the research and
development of the world’s first Ultra-Fast Charging
(“UFC”)/eXtreme Fast Charging (“XFC”) battery solutions for EHang’s
eVTOL products. EHang and GBT will jointly develop eVTOL power
cells, batteries, packs, charging piles and energy storage systems
that meet the airworthiness standards of the CAAC as well as the
“4H” standards (i.e., high energy density, high cycle life, high
instantaneous charge-discharge rate, and high safety), and further
develop fast-charging piles, stations and other infrastructures to
establish an ecosystem for future commercial operations.
Management Remarks
Mr. Huazhi Hu, EHang’s Founder, Chairman
and Chief Executive Officer, commented, “We are excited to
report another quarter of robust growth in both operational and
financial metrics. The obtainment of three certifications for the
EH216-S enables us to expedite our production and deliveries,
which, together with enhanced government initiatives for advancing
the low-altitude economy, have led to a substantial increase in
demands and orders from various domestic and international
customers that include governments and tourism operators. As a
result, we delivered a record 49 units of EH216-S during the
quarter, driving exceptional revenue growth as well as inked
hundreds-of-units purchase orders and pre-orders for EH216-S in
China. Moreover, our global expansion was also gaining momentum
with the extension of our partnership network in the Middle East
and the successful debut flights of our pilotless eVTOLs in the UAE
and Saudi Arabia in the second quarter.
With an integrated business strategy of sales
and operations, we also made great progress in fast-tracking UAM
commercial operation preparations for our customers after sales in
terms of personnel training, infrastructure development, operation
standard and certification. The CAAC has formally accepted the OC
applications submitted by EHang General Aviation and Heyi Aviation.
Besides, our customers and partners in Guangzhou, Shenzhen,
Taiyuan, and Wuxi are also actively preparing for OC applications,
with goals for accelerating the launch of commercial EH216-S
operations and low-altitude economy demonstration projects across
local cities.
We are committed to launching commercial
operations of EH216-S in the near future, which will usher in a new
phase of growth focused on intra-city mobility. At the same time,
we will meet diversified UAM demand through ongoing research,
development and testing of advanced technologies, upgraded
components and new models, such as our lift-and-cruise eVTOL
designed for inter-city mobility. We will leverage our cutting-edge
eVTOL technologies and strong low-altitude industry leadership to
provide secure, and low-carbon autonomous arial vehicles to more
customers globally.”
Mr. Conor Yang, EHang’s Chief Financial
Officer, stated, “Thanks to our industry-leading eVTOL
products, certifications and supportive government policies, we
continued delivering excellent financial results and beat our
guidance again. Notably, our second-quarter revenue surged 919.6%
year-over-year to RMB102.0 million, demonstrating strong demand for
our advanced EH216-S pilotless eVTOL vehicles and robust growth
potentials.
We are thrilled that we achieved adjusted net
income3 in the second quarter, and maintained positive operating
cash flow for the third consecutive quarter, adding strength to our
financial condition. In addition, our cash position continues to
strengthen as the Company has raised RMB554.1 million (US$76.2
million) through the at-the-market equity offering, so we will not
continue selling ADSs under the at-the-market program for the
remainder of 2024. We are confident that our capital and strategic
preparation for commercial operations along with our core strengths
position us well for sustaining this upward momentum and continuing
our expansion.”
Financial Results for the Second Quarter
2024
Revenues
Total revenues were RMB102.0 million (US$14.0
million), representing an increase of 919.6% from RMB10.0 million
in the second quarter of 2023, and an increase of 65.3% from
RMB61.7 million in the first 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.
Costs of revenues
Costs of revenues were RMB38.4 million
(US$5.3million), compared with RMB4.0 million in the second quarter
of 2023 and RMB23.5 million in the first 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 products.
Gross profit and gross
margin
Gross profit was RMB63.7 million (US$8.7
million), representing an increase of 957.3% from RMB6.0 million in
the second quarter of 2023, and an increase of 66.7% from RMB38.2
million in the first 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 62.4%, representing a 2.2
percentage points increase from 60.2% in the second quarter of
2023, and a 0.5 percentage points increase from 61.9% in the first
quarter of 2024. The year-over-year and quarter-over-quarter
increases were mainly due to changes in revenue mix.
Operating expenses
Total operating expenses were RMB143.3 million
(US$19.7 million), compared with RMB82.0 million in the second
quarter of 2023, and RMB107.7 million in the first quarter of
2024.
- Sales and marketing expenses were
RMB27.3 million (US$3.7 million), compared with RMB13.5 million in
the second quarter of 2023, and RMB20.2 million in the first
quarter of 2024. The year-over-year and quarter-over-quarter
increases were mainly attributable to increased sales-related
compensation and expansion of sales channels as well as higher
share-based compensation expenses due to modification of
outstanding share-based awards.
- General and administrative expenses
were RMB54.2 million (US$7.5 million), compared with RMB31.1
million in the second quarter of 2023, and RMB49.7 million in the
first quarter of 2024. The year-over-year increase was mainly
attributable to higher share-based compensation expenses due to
modification of outstanding share-based awards and offset by the
lower expected credit loss expenses due to the improving credit
controls in 2024. The quarter-over-quarter increase was mainly
attributable to higher share-based compensation expenses.
- Research and development expenses
were RMB61.8 million (US$8.5 million), compared with RMB37.4
million in the second quarter of 2023, and RMB37.8 million in the
first quarter of 2024. The year-over-year increase and
quarter-over-quarter increases were mainly attributable to higher
share-based compensation expenses due to modification of
outstanding share-based awards and increased expenditures on
different models of eVTOL aircraft.
Adjusted operating
expenses5 (non-GAAP)
Adjusted operating expenses were RMB70.6 million
(US$9.7 million), representing an increase of 21.6% from RMB58.0
million in the second quarter of 2023, and an increase of 29.6%
from RMB54.5 million in the first quarter of 2024. Adjusted sales
and marketing expenses, adjusted general and administrative
expenses, and adjusted research and development expenses were
RMB15.6 million (US$2.1 million), RMB22.4 million (US$3.1 million)
and RMB32.6 million (US$4.5 million) in the second quarter of 2024,
respectively.
Operating loss
Operating loss was RMB77.4 million (US$10.7
million), representing an increase of 2.8% from RMB75.3 million in
the second quarter of 2023, and an increase of 17.6% from RMB65.8
million in the first quarter of 2024.
Adjusted operating
loss6 (non-GAAP)
Adjusted operating loss was RMB4.7 million
(US$0.6 million), representing an improvement of 90.9% from RMB51.3
million in the second quarter of 2023, and an improvement of 62.9%
from RMB12.6 million in the first quarter of 2024.
Net loss
Net loss was RMB71.6 million (US$9.9 million),
representing an improvement of 5.4% from RMB75.7 million in the
second quarter of 2023, and an increase of 13.0% from RMB63.4
million in the first quarter of 2024.
Adjusted net income
(loss)7 (non-GAAP)
Adjusted net income was RMB1.2 million (US$0.2
million), compared with adjusted net loss of RMB51.8 million in the
second quarter of 2023, and adjusted net loss of RMB10.1 million in
the first quarter of 2024.
Adjusted net income attributable to EHang’s
ordinary shareholders was RMB1.2 million (US$0.2 million). Adjusted
net loss attributable to EHang’s ordinary shareholders in the
second quarter of 2023 was RMB51.6 million, and RMB10.0 million in
the first quarter of 2024.
Earnings (loss) per share and per
ADS
Basic and diluted net loss per ordinary share
were both RMB0.54 (US$0.07). Adjusted basic and diluted net
earnings per ordinary share8 (non-GAAP) were both RMB0.01
(US$0.001).
Basic and diluted net loss per ADS were both
RMB1.08 (US$0.14). Adjusted basic and diluted net earnings per ADS9
(non-GAAP) were both RMB0.02 (US$0.002).
Balance Sheets
Cash and cash equivalents, short-term deposits,
restricted short-term deposits and short-term investments balances
were RMB988.2 million (US$136.0 million) as of June 30, 2024.
Business Outlook
For the third quarter of 2024, the Company
expects the total revenues to be around RMB123 million,
representing an increase of approximately 329.8% year-over-year and
20.6% quarter-over-quarter.
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 Thursday, August 22, 2024, U.S.
Eastern Time (8:00 PM on Thursday, August 22, 2024, 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:
https://register.vevent.com/register/BI8300d14a79504787971960179ac911c3
A live and archived webcast of the conference
call will be available on the Company’s investors relations website
at http://ir.ehang.com/.
About EHang
EHang Holdings Limited (Nasdaq: EH) (“EHang”) 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 EH216-S has obtained the world’s first
type certificate, production certificate and standard airworthiness
certificate for passenger-carrying pilotless eVTOL aircraft 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 www.ehang.com.
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 loss, adjusted net income (loss),
adjusted net income (loss) attributable to ordinary shareholders,
adjusted basic and diluted earnings (loss) per ordinary share and
adjusted basic and diluted 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 RMB7.2672
to US$1.00, the noon buying rate in effect on June 28, 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@ehang.com
Media Contact: pr@ehang.com
_______________________________
1 The EH216 series products include EH216-S, the
standard model for passenger transportation, EH216-F model for
aerial firefighting, and EH216-L model for aerial logistics. 2
Adjusted operating loss is a non-GAAP financial measure, which is
defined as operating loss excluding share-based compensation
expenses. See “Non-GAAP Financial Measures” below.3 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 RMB71.6 million
(US$9.9 million) in the second quarter of 2024. See “Non-GAAP
Financial Measures” below.4 In April 2024, the Company entered into
an At Market Issuance Sales Agreement with China Renaissance
Securities (Hong Kong) Limited (the “sales agent”) relating to the
sale of ADSs for an aggregate offering price of up to US$100
million from time to time through or to the sales agent, as agent
or principal. The ADSs to be sold are registered under the
Registration Statement on Form F-3 (File No. 333-278830) filed with
the U.S. Securities and Exchange Commission on April 19, 2024.5
Adjusted operating expenses is a non-GAAP financial measure, which
is defined as operating expenses excluding share-based compensation
expenses. See “Non-GAAP Financial Measures” below.6 Adjusted
operating loss is a non-GAAP financial measure, which is defined as
operating loss excluding share-based compensation expenses. See
“Non-GAAP Financial Measures” below.7 Adjusted net income (loss) is
a non-GAAP financial measure, which is defined as net income (loss)
excluding share-based compensation expenses and certain
non-operational expenses. See “Non-GAAP Financial Measures” below.8
Adjusted basic and diluted net earnings (loss) per ordinary share
is a non-GAAP financial measure, which is defined as basic and
diluted loss per ordinary share excluding share-based compensation
expenses and certain non-operational expenses. See “Non-GAAP
Financial Measures” below.9 Adjusted basic and diluted net earnings
(loss) per ADS is a non-GAAP financial measure, which is defined as
basic and diluted loss per ADS excluding share-based compensation
expenses and certain non-operational expenses. See “Non-GAAP
Financial Measures” below.
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EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (Amounts in thousands
of Renminbi (“RMB”) and US dollars (“US$”)) |
| |
|
As of |
|
As of |
| |
|
December 31, 2023 |
|
June 30, 2024 |
|
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
ASSETS |
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
228,250 |
|
623,436 |
|
85,788 |
|
Short-term deposits |
|
14,397 |
|
129,911 |
|
17,876 |
|
Short-term investments |
|
57,494 |
|
203,584 |
|
28,014 |
|
Restricted short-term deposits |
|
33,942 |
|
31,283 |
|
4,305 |
|
Notes receivable |
|
- |
|
33,900 |
|
4,665 |
| Accounts receivable,
net10 |
|
34,786 |
|
15,166 |
|
2,087 |
|
Inventories |
|
59,488 |
|
71,175 |
|
9,794 |
| Prepayments and other current
assets |
|
24,691 |
|
21,556 |
|
2,967 |
|
Total current assets |
|
453,048 |
|
1,130,011 |
|
155,496 |
|
|
|
|
|
|
|
|
|
Non-current assets: |
|
|
|
|
|
|
| Property and equipment,
net |
|
44,623 |
|
41,989 |
|
5,778 |
| Operating lease right‑of‑use
assets, net |
|
74,528 |
|
120,783 |
|
16,620 |
|
Intangible assets, net |
|
2,426 |
|
2,382 |
|
328 |
|
Long-term loans receivable |
|
4,215 |
|
- |
|
- |
|
Long-term investments |
|
18,369 |
|
17,457 |
|
2,402 |
|
Other non-current assets |
|
1,436 |
|
2,063 |
|
284 |
|
Total non-current assets |
|
145,597 |
|
184,674 |
|
25,412 |
|
|
|
|
|
|
|
|
|
Total assets |
|
598,645 |
|
1,314,685 |
|
180,908 |
|
|
|
|
|
|
|
|
__________________________10 As of December 31,
2023 and June 30, 2024, amount due from a related party of RMB1,700
and RMB1,700 (US$234) are included in accounts receivable, net,
respectively.
|
EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS (CONT’D)(Amounts in
thousands of Renminbi (“RMB”) and US dollars (“US$”)) |
| |
|
As of |
|
As of |
| |
|
December 31, 2023 |
|
June 30, 2024 |
|
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
| Current
liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Short-term bank loans |
|
69,798 |
|
|
|
69,435 |
|
|
|
9,555 |
|
|
Short-term debt |
|
- |
|
|
|
90,000 |
|
|
|
12,384 |
|
| Accounts payable |
|
35,101 |
|
|
|
73,965 |
|
|
|
10,178 |
|
| Contract liabilities11 |
|
37,169 |
|
|
|
138,553 |
|
|
|
19,066 |
|
| Current portion of long-term
bank loans |
|
3,538 |
|
|
|
4,000 |
|
|
|
550 |
|
| Mandatorily redeemable
non-controlling interests |
|
- |
|
|
|
40,000 |
|
|
|
5,504 |
|
| Accrued expenses and other
liabilities |
|
94,149 |
|
|
|
103,246 |
|
|
|
14,208 |
|
| Current portion of lease
liabilities |
|
5,595 |
|
|
|
10,265 |
|
|
|
1,413 |
|
| Deferred income |
|
1,549 |
|
|
|
1,559 |
|
|
|
215 |
|
| Deferred government
subsidies |
|
3,147 |
|
|
|
805 |
|
|
|
111 |
|
| Income taxes payable |
|
29 |
|
|
|
1 |
|
|
|
- |
|
| Total current
liabilities |
|
250,075 |
|
|
|
531,829 |
|
|
|
73,184 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-current
liabilities: |
|
|
|
|
|
|
|
|
|
|
|
| Long-term bank loans |
|
9,308 |
|
|
|
14,000 |
|
|
|
1,926 |
|
| Mandatorily redeemable
non-controlling interests |
|
40,000 |
|
|
|
- |
|
|
|
- |
|
| Deferred tax liabilities |
|
292 |
|
|
|
292 |
|
|
|
40 |
|
|
Unrecognized tax benefit |
|
5,480 |
|
|
|
5,480 |
|
|
|
754 |
|
|
Lease liabilities |
|
75,308 |
|
|
|
119,094 |
|
|
|
16,388 |
|
| Deferred income |
|
1,486 |
|
|
|
718 |
|
|
|
99 |
|
| Other non-current
liabilities |
|
2,477 |
|
|
|
3,910 |
|
|
|
538 |
|
|
Total non-current liabilities |
|
134,351 |
|
|
|
143,494 |
|
|
|
19,745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
384,426 |
|
|
|
675,323 |
|
|
|
92,929 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Shareholders’
equity: |
|
|
|
|
|
|
|
|
|
|
|
| Ordinary shares |
|
80 |
|
|
|
85 |
|
|
|
12 |
|
| Additional paid-in
capital |
|
1,951,936 |
|
|
|
2,508,530 |
|
|
|
345,185 |
|
| Statutory reserves |
|
1,239 |
|
|
|
1,239 |
|
|
|
170 |
|
| Accumulated deficit |
|
(1,754,542 |
) |
|
|
(1,889,404 |
) |
|
|
(259,991 |
) |
| Accumulated other
comprehensive income |
|
15,079 |
|
|
|
18,646 |
|
|
|
2,566 |
|
| Total EHang Holdings
Limited shareholders’ equity |
|
213,792 |
|
|
|
639,096 |
|
|
|
87,942 |
|
| Non-controlling interests |
|
427 |
|
|
|
266 |
|
|
|
37 |
|
| Total shareholders’
equity |
|
214,219 |
|
|
|
639,362 |
|
|
|
87,979 |
|
|
Total liabilities and shareholders’ equity |
|
598,645 |
|
|
|
1,314,685 |
|
|
|
180,908 |
|
__________________________11 As of December 31,
2023 and June 30, 2024, amount due to a related party of RMB2,000
and RMB2,000 (US$275) are included in contract liabilities,
respectively.
|
EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(Amounts in thousands of Renminbi (“RMB”) and US dollars
(“US$”) except for per share data and per ADS data) |
| |
|
Three Months Ended |
|
Six Months Ended |
|
|
|
June 30,2023 |
|
March 31,2024 |
|
June 30,2024 |
|
June 30,2023 |
|
June 30,2024 |
|
|
|
RMB |
|
RMB |
|
RMB |
US$ |
|
RMB |
|
RMB |
US$ |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
Total revenues |
|
10,006 |
|
|
61,727 |
|
|
102,019 |
|
14,038 |
|
|
32,207 |
|
|
163,746 |
|
22,532 |
|
| Costs of revenues |
|
(3,986 |
) |
|
(23,536 |
) |
|
(38,367 |
) |
(5,279 |
) |
|
(11,993 |
) |
|
(61,903 |
) |
(8,518 |
) |
| Gross
profit |
|
6,020 |
|
|
38,191 |
|
|
63,652 |
|
8,759 |
|
|
20,214 |
|
|
101,843 |
|
14,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing expenses |
|
(13,526 |
) |
|
(20,224 |
) |
|
(27,321 |
) |
(3,759 |
) |
|
(26,000 |
) |
|
(47,545 |
) |
(6,542 |
) |
|
General and administrative expenses |
|
(31,061 |
) |
|
(49,676 |
) |
|
(54,235 |
) |
(7,463 |
) |
|
(56,057 |
) |
|
(103,911 |
) |
(14,299 |
) |
|
Research and development expenses |
|
(37,414 |
) |
|
(37,836 |
) |
|
(61,800 |
) |
(8,504 |
) |
|
(91,489 |
) |
|
(99,636 |
) |
(13,710 |
) |
| Total operating
expenses |
|
(82,001 |
) |
|
(107,736 |
) |
|
(143,356 |
) |
(19,726 |
) |
|
(173,546 |
) |
|
(251,092 |
) |
(34,551 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other operating income |
|
676 |
|
|
3,707 |
|
|
2,261 |
|
311 |
|
|
2,281 |
|
|
5,968 |
|
821 |
|
| Operating
loss |
|
(75,305 |
) |
|
(65,838 |
) |
|
(77,443 |
) |
(10,656 |
) |
|
(151,051 |
) |
|
(143,281 |
) |
(19,716 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other income
(expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and investment income |
|
966 |
|
|
2,864 |
|
|
6,763 |
|
931 |
|
|
1,949 |
|
|
9,627 |
|
1,325 |
|
|
Interest expenses |
|
(816 |
) |
|
(859 |
) |
|
(799 |
) |
(110 |
) |
|
(1,530 |
) |
|
(1,658 |
) |
(228 |
) |
|
Amortization of debt discounts |
|
- |
|
|
- |
|
|
- |
|
- |
|
|
(12,023 |
) |
|
- |
|
- |
|
|
Foreign exchange loss |
|
(1,028 |
) |
|
(245 |
) |
|
(483 |
) |
(66 |
) |
|
(1,124 |
) |
|
(728 |
) |
(100 |
) |
|
Other non-operating income, net |
|
2,075 |
|
|
1,037 |
|
|
911 |
|
125 |
|
|
2,726 |
|
|
1,948 |
|
268 |
|
| Total other income
(expense) |
|
1,197 |
|
|
2,797 |
|
|
6,392 |
|
880 |
|
|
(10,002 |
) |
|
9,189 |
|
1,265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss before income tax
and loss from equity method investment |
|
(74,108 |
) |
|
(63,041 |
) |
|
(71,051 |
) |
(9,776 |
) |
|
(161,053 |
) |
|
(134,092 |
) |
(18,451 |
) |
|
Income tax expenses |
|
(13 |
) |
|
(1 |
) |
|
(18 |
) |
(2 |
) |
|
(14 |
) |
|
(19 |
) |
(3 |
) |
| Loss before loss from
equity method investment |
|
(74,121 |
) |
|
(63,042 |
) |
|
(71,069 |
) |
(9,778 |
) |
|
(161,067 |
) |
|
(134,111 |
) |
(18,454 |
) |
|
Loss from equity method investment |
|
(1,607 |
) |
|
(347 |
) |
|
(565 |
) |
(78 |
) |
|
(1,697 |
) |
|
(912 |
) |
(125 |
) |
| Net loss |
|
(75,728 |
) |
|
(63,389 |
) |
|
(71,634 |
) |
(9,856 |
) |
|
(162,764 |
) |
|
(135,023 |
) |
(18,579 |
) |
|
EHANG HOLDINGS LIMITEDUNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONT’D)
(Amounts in thousands of Renminbi (“RMB”) and US dollars
(“US$”) except for per share data and per ADS data) |
| |
|
Three Months Ended |
|
Six Months Ended |
|
|
|
June 30,2023 |
|
March 31,2024 |
|
June 30,2024 |
|
June 30,2023 |
|
June 30,2024 |
|
|
|
RMB |
|
RMB |
|
RMB |
US$ |
|
RMB |
|
RMB |
US$ |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
Net loss |
|
(75,728 |
) |
|
(63,389 |
) |
|
(71,634 |
) |
(9,856 |
) |
|
(162,764 |
) |
|
(135,023 |
) |
(18,579 |
) |
| Net loss attributable to
non-controlling interests |
|
165 |
|
|
64 |
|
|
97 |
|
13 |
|
|
376 |
|
|
161 |
|
22 |
|
| Net loss attributable
to ordinary shareholders |
|
(75,563 |
) |
|
(63,325 |
) |
|
(71,537 |
) |
(9,843 |
) |
|
(162,388 |
) |
|
(134,862 |
) |
(18,557 |
) |
| Net loss per ordinary
share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted |
|
(0.63 |
) |
|
(0.50 |
) |
|
(0.54 |
) |
(0.07 |
) |
|
(1.37 |
) |
|
(1.04 |
) |
(0.14 |
) |
| Shares used in net
loss per ordinary share computation (in thousands of
shares): |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
120,159 |
|
|
126,704 |
|
|
131,537 |
|
131,537 |
|
|
118,286 |
|
|
129,120 |
|
129,120 |
|
| Diluted |
|
120,159 |
|
|
126,704 |
|
|
131,537 |
|
131,537 |
|
|
118,286 |
|
|
129,120 |
|
129,120 |
|
| Loss per ADS (2 ordinary
shares equal to 1 ADS)Basic and diluted |
|
(1.26 |
) |
|
(1.00 |
) |
|
(1.08 |
) |
(0.14 |
) |
|
(2.74 |
) |
|
(2.08 |
) |
(0.28 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Other comprehensive
income |
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency translation
adjustments net of nil tax |
|
4,968 |
|
|
751 |
|
|
2,816 |
|
387 |
|
|
4,246 |
|
|
3,567 |
|
491 |
|
| Total other
comprehensive income, net of tax |
|
4,968 |
|
|
751 |
|
|
2,816 |
|
387 |
|
|
4,246 |
|
|
3,567 |
|
491 |
|
| Comprehensive
loss |
|
(70,760 |
) |
|
(62,638 |
) |
|
(68,818 |
) |
(9,469 |
) |
|
(158,518 |
) |
|
(131,456 |
) |
(18,088 |
) |
| Comprehensive loss
attributable to non-controlling interests |
|
165 |
|
|
64 |
|
|
97 |
|
13 |
|
|
376 |
|
|
161 |
|
22 |
|
| Comprehensive loss
attributable to ordinary shareholders |
|
(70,595 |
) |
|
(62,574 |
) |
|
(68,721 |
) |
(9,456 |
) |
|
(158,142 |
) |
|
(131,295 |
) |
(18,066 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
EHANG HOLDINGS LIMITEDUNAUDITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(Amounts in thousands of Renminbi (“RMB”) and US dollars
(“US$”) except for per share data and per ADS data) |
| |
|
Three Months Ended |
|
Six Months Ended |
|
|
|
June 30,2023 |
|
March 31,2024 |
|
June 30,2024 |
|
June 30,2023 |
|
June 30,2024 |
|
|
|
RMB |
|
RMB |
|
RMB |
US$ |
|
RMB |
|
RMB |
US$ |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
Gross profit |
|
6,020 |
|
|
38,191 |
|
|
63,652 |
|
8,759 |
|
|
20,214 |
|
|
101,843 |
|
14,014 |
|
| Plus: Share-based
compensation |
|
- |
|
|
- |
|
|
- |
|
- |
|
|
- |
|
|
- |
|
- |
|
| Adjusted gross profit |
|
6,020 |
|
|
38,191 |
|
|
63,652 |
|
8,759 |
|
|
20,214 |
|
|
101,843 |
|
14,014 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Sales and marketing
expenses |
|
(13,526 |
) |
|
(20,224 |
) |
|
(27,321 |
) |
(3,759 |
) |
|
(26,000 |
) |
|
(47,545 |
) |
(6,542 |
) |
| Plus: Share-based
compensation |
|
4,656 |
|
|
8,817 |
|
|
11,725 |
|
1,613 |
|
|
9,607 |
|
|
20,542 |
|
2,827 |
|
| Adjusted sales and marketing
expenses |
|
(8,870 |
) |
|
(11,407 |
) |
|
(15,596 |
) |
(2,146 |
) |
|
(16,393 |
) |
|
(27,003 |
) |
(3,715 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General and
administrative expenses |
|
(31,061 |
) |
|
(49,676 |
) |
|
(54,235 |
) |
(7,463 |
) |
|
(56,057 |
) |
|
(103,911 |
) |
(14,299 |
) |
| Plus: Share-based
compensation |
|
10,693 |
|
|
29,521 |
|
|
31,848 |
|
4,382 |
|
|
19,857 |
|
|
61,369 |
|
8,445 |
|
| Adjusted general and
administrative expenses |
|
(20,368 |
) |
|
(20,155 |
) |
|
(22,387 |
) |
(3,081 |
) |
|
(36,200 |
) |
|
(42,542 |
) |
(5,854 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Research and
development expenses |
|
(37,414 |
) |
|
(37,836 |
) |
|
(61,800 |
) |
(8,504 |
) |
|
(91,489 |
) |
|
(99,636 |
) |
(13,710 |
) |
| Plus: Share-based
compensation |
|
8,607 |
|
|
14,948 |
|
|
29,211 |
|
4,020 |
|
|
35,931 |
|
|
44,159 |
|
6,076 |
|
| Adjusted research and
development expenses |
|
(28,807 |
) |
|
(22,888 |
) |
|
(32,589 |
) |
(4,484 |
) |
|
(55,558 |
) |
|
(55,477 |
) |
(7,634 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Operating
expenses |
|
(82,001 |
) |
|
(107,736 |
) |
|
(143,356 |
) |
(19,726 |
) |
|
(173,546 |
) |
|
(251,092 |
) |
(34,551 |
) |
| Plus: Share-based
compensation |
|
23,956 |
|
|
53,286 |
|
|
72,784 |
|
10,015 |
|
|
65,395 |
|
|
126,070 |
|
17,348 |
|
| Adjusted operating
expenses |
|
(58,045 |
) |
|
(54,450 |
) |
|
(70,572 |
) |
(9,711 |
) |
|
(108,151 |
) |
|
(125,022 |
) |
(17,203 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating
loss |
|
(75,305 |
) |
|
(65,838 |
) |
|
(77,443 |
) |
(10,656 |
) |
|
(151,051 |
) |
|
(143,281 |
) |
(19,716 |
) |
| Plus: Share-based
compensation |
|
23,956 |
|
|
53,286 |
|
|
72,784 |
|
10,015 |
|
|
65,395 |
|
|
126,070 |
|
17,348 |
|
| Adjusted operating loss |
|
(51,349 |
) |
|
(12,552 |
) |
|
(4,659 |
) |
(641 |
) |
|
(85,656 |
) |
|
(17,211 |
) |
(2,368 |
) |
|
EHANG HOLDINGS LIMITEDUNAUDITED
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
(CONT’D) (Amounts in thousands of Renminbi
(“RMB”) and US dollars (“US$”) except for per share data and per
ADS data) |
| |
|
Three Months Ended |
|
Six Months Ended |
|
|
|
June 30,2023 |
|
March 31,2024 |
|
June 30,2024 |
|
June 30,2023 |
|
June 30,2024 |
|
|
|
RMB |
|
RMB |
|
RMB |
US$ |
|
RMB |
|
RMB |
US$ |
|
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
Net loss |
|
(75,728 |
) |
|
(63,389 |
) |
|
(71,634 |
) |
(9,856 |
) |
|
(162,764 |
) |
|
(135,023 |
) |
(18,579 |
) |
| Plus: Share-based
compensation |
|
23,956 |
|
|
53,286 |
|
|
72,784 |
|
10,015 |
|
|
65,395 |
|
|
126,070 |
|
17,348 |
|
| Plus: Amortization of debt
discounts |
|
- |
|
|
- |
|
|
- |
|
- |
|
|
12,023 |
|
|
- |
|
- |
|
| Adjusted net (loss)
income |
|
(51,772 |
) |
|
(10,103 |
) |
|
1,150 |
|
159 |
|
|
(85,346 |
) |
|
(8,953 |
) |
(1,231 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss attributable
to ordinary shareholders |
|
(75,563 |
) |
|
(63,325 |
) |
|
(71,537 |
) |
(9,843 |
) |
|
(162,388 |
) |
|
(134,862 |
) |
(18,557 |
) |
| Plus: Share-based
compensation |
|
23,956 |
|
|
53,286 |
|
|
72,784 |
|
10,015 |
|
|
65,395 |
|
|
126,070 |
|
17,348 |
|
| Plus: Amortization of debt
discounts |
|
- |
|
|
- |
|
|
- |
|
- |
|
|
12,023 |
|
|
- |
|
- |
|
| Adjusted net (loss) income
attributable to ordinary shareholders |
|
(51,607 |
) |
|
(10,039 |
) |
|
1,247 |
|
172 |
|
|
(84,970 |
) |
|
(8,792 |
) |
(1,209 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Shares used in net
earnings (loss) per ordinary share computation (in thousands of
shares): |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
120,159 |
|
|
126,704 |
|
|
131,537 |
|
131,537 |
|
|
118,286 |
|
|
129,120 |
|
129,120 |
|
| Diluted |
|
120,159 |
|
|
126,704 |
|
|
134,037 |
|
134,037 |
|
|
118,286 |
|
|
129,120 |
|
129,120 |
|
| Adjusted basic and diluted net
earnings (loss) per ordinary share |
|
(0.43 |
) |
|
(0.08 |
) |
|
0.01 |
|
0.001 |
|
|
(0.72 |
) |
|
(0.07 |
) |
(0.01 |
) |
| Adjusted basic and diluted net
earnings (loss) per ADS |
|
(0.86 |
) |
|
(0.16 |
) |
|
0.02 |
|
0.002 |
|
|
(1.44 |
) |
|
(0.14 |
) |
(0.02 |
) |
EHang (NASDAQ:EH)
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From Jul 2024 to Aug 2024
EHang (NASDAQ:EH)
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From Aug 2023 to Aug 2024
