EH

Quarterly Revenues Increased by 203.5% QoQ Broadened Revenue Sources beyond Passenger Mobility Advanced Regulatory Sandbox Programs in Thailand and Hong Kong Launched Global Fast Track Program to Accelerate Overseas Market Entry and Commercialization GUANGZHOU, China, Aug. 25, 2026 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world’s leading advanced air mobility (“AAM”) technology platform company, today announced its unaudited financial results for the second quarter ended June 30, 2026. Operational and Financial Highlights for the Second Quarter of 2026 Sales and deliveries of products included 36 units of electric vertical take-off and landing (“eVTOL”) aircraft, comprising 35 units of the EH216 series1 and one unit of VT35, compared with 52 units of the EH216 series in the second quarter of 2025 and increasing notably from 4 units in the first quarter of 2026; 520 units of GD4.0 formation drones, compared with 1,000 units in the first quarter of 2026. Total revenues were RMB77.9 million (US$11.5 million), representing a significant increase of 203.5% from RMB25.7 million in the first quarter of 2026, and a decrease of 31.3% from RMB113.3 million in the second quarter of 2025. Gross margin was 61.2%, on par with 61.5% in the second quarter of 2025 and 62.5% in the first quarter of 2026. Operating loss was RMB131.7 million (US$19.4 million), compared with RMB100.1 million in the second quarter of 2025 and RMB127.9 million in the first quarter of 2026. Net loss was RMB128.3 million (US$18.9 million), compared with RMB103.0 million in the second quarter of 2025 and RMB126.4 million in the first quarter of 2026. Adjusted operating loss2 (non-GAAP) was RMB62.0 million (US$9.1 million), compared with RMB23.9 million in the second quarter of 2025 and RMB77.1 million in the first quarter of 2026. Adjusted net loss3 (non-GAAP) was RMB58.5 million (US$8.6 million), compared with RMB12.5 million in the second quarter of 2025 and RMB75.6 million in the first quarter of 2026. Cash and cash equivalents, short-term investments and treasury investment balances were RMB929.4 million (US$137.0 million) as of June 30, 2026. Business Highlights for the Second Quarter of 2026 and Recent Developments Since the second quarter of 2026, amid a more cautious regulatory environment in China, EHang has focused on three strategic priorities—strengthening domestic operational capabilities, upgrading its global market entry strategies, and broadening its revenue source—while advancing from certification toward operational readiness and capability deployment. Deepening Domestic Operational Readiness and Standardizing Operational Capabilities EHang continued to strengthen the end-to-end operational systems at the Guangzhou and Hefei sites of two Air Operator Certificate (“OC”) holders, covering personnel training, operational support, insurance services, airspace coordination and emergency response. Routine trial operations at the two sites have remained safe and stable for 17 months, providing real-world operating data and experience to support regulatory engagement and future commercial operations. The Company also advanced the EH216-S from single-site operations toward A-to-B route operations. At its Guangzhou headquarters, the first point-to-point test route has entered internal trial operation, further validating route planning, ground support, multi-aircraft dispatching and contingency response capabilities. EHang continued to expand practical transportation applications, including low-altitude routes across Erhai Lake in Dali, Yunnan and a cross-sea low-altitude corridor project in Lingao, Hainan, in cooperation with China Construction Sixth Engineering Bureau. In Hong Kong, the Company was selected into the “Low-Altitude Economy Regulatory Sandbox X” Trial Projects and has commenced flight validation, with a public flight event planned in the near term. Building on its operating experience, EHang is standardizing its certifications, operating data, know-how and safety management capabilities into replicable solutions for customers and partners. The Company is also enhancing EH216-S operational support, with its battery cooling vehicle increasing daily utilization to 12–15 flights per aircraft and independent air-conditioning systems reducing cabin temperature by 10–15°C, supporting greater efficiency, passenger comfort and future scaled operations. Expanding Overseas Markets and Building a Standardized, Replicable Global Market Entry Model Through collaboration with local civil aviation authorities and partners, EHang continued to accelerate the deployment of its pilotless eVTOL technologies and operational systems overseas. Since the second quarter, the EH216-S has expanded its flight footprint to Mexico, Switzerland and Kazakhstan. To date, the EH216 series has flown in 23 countries worldwide, with nearly 100,000 safe flight missions completed. In Thailand, the Company continued local flight validation and commercial operation preparations under the regulatory sandbox framework. A clear regulatory pathway has been established with the Civil Aviation Authority of Thailand, with the goal of obtaining a commercial operation certificate within 2026. Building on nearly a decade of experience in airworthiness certification, operations and regulatory engagement, EHang further advanced its Global Fast Track Program, providing a structured and accelerated pathway for introducing pilotless eVTOL operations in international markets. The program covers regulatory coordination, validation flights, operational readiness and commercialization. Sri Lanka is the inaugural market under the initiative and is advancing toward sandbox commercialization subject to applicable regulatory, technical, operational and safety assessments. EHang is also exploring similar collaboration pathways in other international markets. By moving from product delivery toward the export of experience, capabilities and standards, EHang is building a more efficient and replicable global commercialization model. Expanding the Product Portfolio and Application Scenarios to Diversify Growth Drivers EHang remains focused on passenger air mobility as its long-term strategic priority, while leveraging its aviation-grade technologies and safety capabilities to expand into non-passenger applications such as logistics, firefighting and aerial media. Aerial media remains an important part of this diversification. The Company continued to expand GD-series formation drone sales and drone show services, while further developing recurring venue-based performances alongside one-off large-scale events. EHang has also been expanding the business into Japan, Thailand and Europe, enhancing its sustainability and replicability. In aerial logistics and firefighting, the Company is advancing product development and testing based on real customer demand, with trial applications in port logistics and forest firefighting. Meanwhile, EHang continued to advance the development and airworthiness certification of the VT35 long-range lift-and-cruise eVTOL through ongoing testing and trial flights. The Company also enhanced its urban low-altitude flight management platform and further integrated it with Hefei government’s city-level flight service system to support future large-scale, high-density urban low-altitude operations. Management Remarks Mr. Huazhi Hu, Founder, Chairman and Chief Executive Officer of EHang: “Since the second quarter, EHang has entered an important strategic transition, moving from obtaining certifications toward operational readiness, scenario validation, capability deployment and global expansion. Certification is only the starting point. Scalable commercialization ultimately depends on safe and reliable products, strong operational capabilities, replicable scenario solutions and the ability to deploy them across global markets. In late June, a major accident involving a piloted light-sport aircraft in China prompted greater caution around low-altitude aviation safety regulation and affected the pace of passenger commercial operation approvals in certain regions. We fully understand this regulatory approach. For pilotless passenger aviation, safety, regulation and traceability have always been the foundation for commercial operations. We see this as a temporary adjustment in industry pace, not a change in market demand, our technology foundation or long-term direction. We are therefore focused on three priorities: refining replicable flight operational models in China while accelerating capability deployment overseas; diversifying revenue through logistics, firefighting and aerial media while keeping passenger transportation at the core; and improving efficiency by focusing resources on core R&D, airworthiness, operations and businesses with clear revenue potential. We are also improving organizational efficiency and revitalizing structure, controlling capital expenditures and expanding the use of AI in R&D design, knowledge reuse and cross-functional processes. We firmly believe advanced air mobility will continue toward greater automation, intelligence and pilotless operations. Our goal is to keep strengthening our safety record and standardized operational capabilities, so that EHang is ready to scale as the regulatory and commercial environment matures.” Mr. Conor Yang, Chief Financial Officer of EHang: “We are pleased with the continued progress across our global and regional markets, highlighted by the rollout of our Global Fast Track Program and the advancement of regulatory sandbox initiatives in Thailand and Hong Kong. These milestones reflect growing regulatory collaboration and open up additional commercialization pathways for our pilotless eVTOL solutions. At the same time, we recognize that the recent industry air incidents have prompted a more cautious regulatory stance in China, creating near-term uncertainty around the timing of passenger commercial service approvals in China. In light of this evolving environment, we have decided to withdraw our previously issued 2026 revenue guidance of RMB600 million and are not providing a replacement at this time. We will revisit our outlook and provide updated guidance once regulatory visibility improves. As of June 30, cash and investment balances totaled RMB929.4 million, supporting our commercialization, product development and global expansion. We will continue to improve operating efficiency and create sustainable long-term value for shareholders.” Unaudited Financial Results for the Second Quarter of 2026 Revenues Total revenues were RMB77.9 million (US$11.5 million), compared with RMB113.3 million in the second quarter of 2025, and RMB25.7 million in the first quarter of 2026. The quarter-over-quarter 203.5% increase was primarily driven by increased sales volume of eVTOL aircraft, including EH216 series and VT35. Costs of revenues Costs of revenues were RMB30.2 million (US$4.4 million), compared with RMB43.6 million in the second quarter of 2025 and RMB9.6 million in the first quarter of 2026. The quarter-over-quarter increase was in line with the increase in the sales volume of eVTOL aircraft. Gross profit and gross margin Gross profit was RMB47.7 million (US$7.0 million), compared with RMB69.7 million in the second quarter of 2025, and RMB16.0 million in the first quarter of 2026. The quarter-over-quarter increase was primarily due to the increase in the sales volume of eVTOL aircraft. Gross margin was 61.2%, on par with 61.5% in the second quarter of 2025 and 62.5% in the first quarter of 2026. Operating expenses Total operating expenses were RMB182.3 million (US$26.9 million), compared with RMB172.5 million in the second quarter of 2025, and RMB151.7 million in the first quarter of 2026. Sales and marketing expenses were RMB34.4 million (US$5.1 million), compared with RMB41.1 million in the second quarter of 2025, and RMB23.9 million in the first quarter of 2026. The year-over-year decrease was primarily attributable to decreases in sales-related compensation. The quarter-over-quarter increase was primarily attributable to higher share-based compensation expenses due to new grant of share-based awards in the end of first quarter of 2026. General and administrative expenses were RMB84.1 million (US$12.4 million), compared with RMB73.8 million in the second quarter of 2025, and RMB67.7 million in the first quarter of 2026. The year-over-year and the quarter-over-quarter increases were primarily attributable to higher share-based compensation expenses due to new grant of share-based awards in the end of first quarter of 2026, and increases in current expected credit loss of accounts receivable. Research and development expenses were RMB63.8 million (US$9.4 million), compared with RMB57.6 million in the second quarter of 2025, and RMB60.1 million in the first quarter of 2026. The year-over-year increase was mainly attributable to increased employee compensation. The quarter-over-quarter increase was mainly attributable to higher share-based compensation expenses due to new grant of share-based awards in the end of first quarter of 2026. Operating loss Operating loss was RMB 131.7 million (US$19.4 million), compared with RMB100.1 million in the second quarter of 2025 and RMB127.9 million in the first quarter of 2026. Net loss Net loss was RMB 128.3 million (US$18.9 million), compared with RMB103.0 million in the second quarter of 2025 and RMB126.4 million in the first quarter of 2026. Net loss per ordinary share and per ADS Basic and diluted net loss per ordinary share were both RMB0.84 (US$0.12). Basic and diluted net loss per American depositary share (“ADS”) were both RMB1.68 (US$0.24). Each ADS represents two of our Class A ordinary shares. Balance sheets Cash and cash equivalents, short-term investments and treasury investment balances were RMB929.4 million (US$137.0 million) as of June 30, 2026. Non-GAAP Financial Measures The Company uses adjusted gross profit, 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, or such expenses were not deductible. 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 item of (i) share-based compensation expenses and (ii) certain non-operational expenses, such as provisions for legal proceedings, 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 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. Adjusted operating expenses4 (non-GAAP) Adjusted operating expenses4 were RMB112.7 million (US$16.6 million), compared to RMB96.4 million in the second quarter of 2025 and RMB101.1 million in the first quarter of 2026. In the second quarter of 2026, adjusted sales and marketing expenses4, adjusted general and administrative expenses4, and adjusted research and development expenses4 were RMB20.0 million (US$2.9 million), RMB45.4 million (US$6.7 million), and RMB47.3 million (US$7.0 million), respectively. Adjusted operating loss2 (non-GAAP) Adjusted operating loss2 was RMB62.0 million (US$9.1 million), compared with RMB23.9 million in the second quarter of 2025 and RMB77.1 million in the first quarter of 2026. Adjusted net loss3 (non-GAAP) Adjusted net loss3 was RMB58.5 million (US$8.6 million), compared with RMB12.5 million in the second quarter of 2025 and adjusted net loss3 of RMB75.6 million in the first quarter of 2026. Adjusted net loss attributable to EHang’s ordinary shareholders5 (non-GAAP) Adjusted net loss attributable to EHang’s ordinary shareholders5 was RMB57.9 million (US$8.5 million), compared with RMB12.3 million in the second quarter of 2025 and RMB75.2 million in the first quarter of 2026. Adjusted net loss per ordinary share6 and per ADS7 (non-GAAP) Adjusted basic and diluted net loss per ordinary share6 was RMB0.38 (US$0.06). Adjusted basic and diluted net loss per ADS7 was RMB0.76 (US$0.12). Business Outlook In light of recent industry safety incidents and the resulting more cautious regulatory approach, which has increased uncertainty around the timing of passenger commercial service approvals in China, the Company has decided to withdraw its previously issued full-year revenue guidance for 2026 and is not providing replacement guidance at this time. This decision reflects a prudent approach to managing business visibility against the backdrop of domestic regulatory environment at this stage and does not represent a change in the Company’s long-term outlook for the low-altitude economy or EHang’s strategic positioning. The Company will continue to expand global markets, strengthen its operational capabilities, diversify its revenue mix, and closely monitor developments in the regulatory and operating environment. EHang expects to provide an updated business outlook when greater regulatory visibility is established. Conference Call EHang’s management team will host an earnings conference call at 8:00 AM on Tuesday, August 25, 2026, U.S. Eastern Time (8:00 PM on Tuesday, August 25, 2026, 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: https://s1.c-conf.com/diamondpass/10056824-n27awx.html Chinese line: https://s1.c-conf.com/diamondpass/10056826-dodgtb.html 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 (Nasdaq: EH) is the world’s leading advanced air mobility (“AAM”) technology platform company, committed to making safe, autonomous, and eco-friendly air mobility accessible to everyone. The company develops and manufactures a diversified portfolio of pilotless electric vertical take-off and landing (“eVTOL”) aircraft for a wide range of use cases, including aerial tourism, intra-city transport, intercity travel, logistics and emergency firefighting. Its flagship model, 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, and is now commercially operated under the country’s first Air Operator Certificates for human-carrying eVTOL services. Complementing this, EHang’s VT35 expands its reach into long-range and intercity scenarios, supporting the development of a multi-tiered low-altitude mobility network. By integrating advanced autonomous technologies with scalable operational infrastructure, EHang is redefining how people and goods move—across cities, regions, and natural barriers—shaping the future of air mobility. 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 AAM 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. Exchange Rate This press release contains translations of certain Renminbi (“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 RMB6.7851 to US$1.00, the noon buying rate in effect on June 30, 2026, 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: [email protected] Media Contact: [email protected] ___________________________1 The EH216 series include the EH216-S (standard model for passenger transportation), the EH216-F (specialized model for aerial firefighting), and the EH216-L (specialized model for aerial logistics). 2 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”.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. See “Non-GAAP Financial Measures”.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 is defined as the respective expense—sales and marketing expenses, general and administrative expenses, and research and development expenses—excluding share-based compensation expenses.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.6 Adjusted basic and diluted net earnings (loss) per ordinary share is a non-GAAP financial measure, which is defined as basic and diluted netearnings (loss) per ordinary share excluding share-based compensation expenses and certain non-operational expenses.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.8 As of December 31, 2025 and June 30, 2026, amounts due from a related party of RMB5,256 and RMB1,268 (US$187) were included in accounts receivable, net, respectively.9 As of December 31, 2025 and June 30, 2026, amounts due from a related party of RMB2,070 and nil were included in prepayments and other current assets, respectively.10 As of December 31, 2025 and June 30, 2026, amounts due to a related party of RMB2,307 and RMB2,305 (US$340) were included in contract liabilities, respectively.11 As of December 31, 2025 and June 30, 2026, amounts due to a related party of nil and RMB341(US$50) were included in accrued expenses and other liabilities, respectively.

This article first appeared on GuruFocus. Revenue: CNY 77.9 million in Q2 2026, down from CNY 113.3 million in Q2 2025, but up significantly from CNY 25.7 million in Q1 2026. Gross Margin: 61.2% in Q2, compared with 61.5% in Q2 2025 and 62.5% in Q1 2026. Adjusted Operating Expenses: CNY 112.7 million in Q2, up 16.9% year-over-year and 11.5% quarter-over-quarter. Adjusted Operating Loss: CNY 62 million in Q2, compared to CNY 77.1 million in Q1 2026. Adjusted Net Loss: CNY 58.5 million in Q2, compared to CNY 75.6 million in Q1 2026. Cash Position: Combined cash and cash equivalents, short-term and treasury investments totaled CNY 929.4 million as of June 30, 2026. Deliveries: 35 units of EH216-S and 1 VT35 delivered in Q2. Aerial Media: Completed 22 shows and delivered 520 units of GD4 drones in Q2; revenue surged over 270% year-over-year. Guidance: Withdrew previously-issued 2026 annual revenue guidance of RMB 600 million due to regulatory uncertainty. Warning! GuruFocus has detected 4 Warning Signs with EH. Is EH fairly valued? Test your thesis with our free DCF calculator. Release Date: August 25, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Global footprint expanded to 23 countries, adding Mexico and Switzerland, with Thailand targeting commercial approval in 2026 and Hong Kong sandbox trials underway. Aerial media revenue surged over 270% year-over-year in Q2, with 22 shows and 520 GD4 drones delivered, expanding to Europe, Japan, and Thailand. New point-to-point test route and upgraded battery/air conditioning systems increased daily flights per aircraft from 6 to 12-15, boosting operational efficiency. Launched Global Fast-Track Program, with Sri Lanka as first adopter, to standardize market entry and compress timelines for pilotless eVTOL adoption. Maintained stable gross margin of 61.2% and a healthy cash position of RMB 929.4 million, supporting continued investments in R&D and global expansion. Diversifying revenue streams with non-passenger products (logistics, firefighting, aerial media) to reduce reliance on passenger commercial approval. Withdrew 2026 annual revenue guidance of RMB 600 million due to regulatory uncertainty, with no replacement provided. Domestic passenger-carrying commercial operations in Hefei delayed indefinitely due to a June light-sport aircraft accident, impacting approval timeline. Q2 revenue declined 31% year-over-year to CNY 77.9 million, driven by lower EH216-S sales volume. Adjusted operating loss widened to CNY 62 million in Q2, reflecting increased operating expenses and transition costs from organizational optimization. Regulatory tightening in China has slowed deliveries, acceptance, and commercial operations for some projects, affecting near-term growth. Operating expenses increased 16.9% year-over-year, with cost efficiency measures not yet fully reflected in Q2 results. Q: What is the status of the commercial operation permit in Thailand, and what changed management's view on the timeline for domestic commercial operations in China following the June incident?A: (Company Representative) In Thailand, we are deploying both passenger-carrying and non-passenger-carrying operations in parallel. We expect to obtain an experimental flying permit in Q3 and a formal commercial operation certificate by the end of the year, which will officially register our eVTOL with the Thai Civil Aviation Authority. We are planning 10 routes covering Bangkok, Phuket, Samui Island, and Pattaya, with official EH216 deliveries starting next year. Regarding China, the June incident involving a piloted light-sport aircraft was primarily caused by human factors, and we maintain our view that our unmanned, preprogrammed, fixed-route model has inherent safety advantages. However, the regulatory response has been more far-reaching than anticipated, prompting a more cautious stance across the entire low-altitude industry. This has delayed the commercial operation approval process for the Hefei project, and the timing of regulatory clearance remains uncertain. We view this as a temporary, industry-wide timing issue rather than a rejection of our technology pathway. Q: Given the withdrawal of full-year revenue guidance, can you provide color on the second-half run rate versus Q2, split between eVTOL and non-passenger segments? Also, can you update on the accounting adjustments mentioned in the Q1 call?A: (Company Representative) Due to uncertainties, we will not provide specific quantitative expectations on the revenue mix. Based on actual Q2 data, air mobility revenue accounted for approximately 92% of total revenue, while non-passenger business (primarily GD4 drone shows) accounted for about 8%. Non-passenger revenue is expected to trend upward in both percentage and absolute terms in the second half, driven by increased formation drone deliveries and a small number of other model deliveries such as firefighting series. Passenger business revenue will remain dominant, depending on the pace of commercial operations in Guangzhou, Hefei, and overseas markets. Regarding accounting adjustments, we recognized revenue for a portion of EH216 series aircraft previously delivered in Q2, and will continue to recognize revenue as contracts meet applicable criteria, disclosing this to the market in a timely fashion. Q: What safety evidence or milestones will likely be needed for the regulatory approval phase to normalize? And which non-passenger business area (logistics, firefighting) is more promising in the near term?A: (Company Representative) For approval to normalize, our operational model needs to pass regulatory review and enter routine operations. We need to see the trial operations in Hefei move into routine operations, establishing that site as a role model and industry benchmark. We are currently helping customers prepare related documents to expedite their approval processes once regulatory clearance clears. On non-passenger businesses, there is clear and genuine demand across all areas, and we are reusing technologies from human-carrying products for non-human-carrying applications, including short-range emergency logistics and long-range logistics. In the second half of the year, we will ship firefighting products with promising order prospects. Non-passenger business has already reached 8% of total revenue, and we expect this share to continue to grow. Q: Can you provide more details on the timeline for Thailand commercial operations and the expected number of EH216 units to be shipped this year based on contracts?A: (Company Representative) We are striving to secure the operational certificate in Thailand by the end of the year. We are working with the local regulator to plan 10 routes covering Bangkok, Phuket, Samui Island, and Pattaya. Official deliveries of EH216 models will start sometime next year, with each location requiring at least 5 units, leading to a significant increase in eVTOL deliveries next year. On the non-passenger side, we have shipped over 1,000 GD4 drones by sea to Thailand and plan to launch regular drone light show operations in Bangkok and Pattaya. Q: What is the company's strategy for global expansion, and how is the Global Fast Track Program progressing?A: (CEO Hu Huazhi) Our global footprint has expanded to 23 countries, adding Mexico and Switzerland since Q2. We launched the Global Fast Track Program, a 4-stage framework of regulatory alignment, validation flights, and commercial launch designed to compress the timeline for market entry. Sri Lanka is the first country to formally adopt the program, and we are also exploring this program in Central Asia. The program does not bypass local regulatory processes but reduces duplication by leveraging our technical documentation, safety data, and accumulated operational experience. This shifts our global strategy from merely selling products to exporting experience, standards, and capabilities. Q: How is the company diversifying its revenue streams beyond passenger transportation, and what progress has been made in logistics, firefighting, and aerial media?A: (COO Zhao Wang) We are leveraging the EH216's mature aviation-grade safety architecture for logistics, firefighting, and aerial media products. Aerial media remains a key revenue driver, with 22 shows completed and 520 GD4 units delivered in Q2, evolving from one-time events to regular onsite services. We are working with customers on product customization for firefighting and logistics, advancing VT35 firefighting drone prototypes and logistic aircraft for forest firefighting and port logistics scenarios. The business is expanding internationally, with GD4 drones deployed across Japan, Thailand, and Europe. Q: What is the company's approach to cost efficiency and organizational optimization, and how will this impact future operations?A: (CFO Conor Yang) Since Q2, we streamlined the organization, refreshed talent structure, and cut non-intentional CapEx. The outcomes will be visible in the second half. Q2 expenses haven't yet fully reflected these initiatives, as they were mostly rolled out during the quarter. Going forward, while protecting core R&D, airworthiness, operating, and global expansion capabilities, we will continue to improve resource efficiency, reduce nonessential spending, and maintain strict cash discipline. The rule is simple: cost reduction will never compromise safety, product quality, or core R&D. Q: What is the company's cash position, and how does it support future operations and growth?A: (CFO Conor Yang) As of June 30, 2026, our combined cash and cash equivalents, short-term and treasury investments totaled RMB 929.4 million. This healthy cash position provides strong support for our continued commercialization efforts, corporate development, global expansion, and day-to-day operations. We are strictly scrutinizing expenses to strengthen cash reserves and ensure sustainable operations. QFor the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in EHang Holdings Limited Unsponsored ADR? Here are five stocks we like better. Revenue rebounded sequentially but declined year over year: Second-quarter revenue was RMB 77.9 million, down 31% from a year earlier but up 203% from the first quarter, supported by higher EH216-series deliveries and one VT-35 delivery. EHang delivered 35 EH216-S aircraft and reported a 61.2% gross margin. China’s commercial launch timeline remains uncertain: Regulatory approvals for passenger-carrying operations in Hefei were delayed following a June aircraft accident unrelated to EHang. The company withdrew its previous 2026 revenue guidance of RMB 600 million because of the uncertainty. International expansion and diversification are advancing: EHang expanded to 23 countries, is pursuing Thailand and Hong Kong programs, and expects non-passenger businesses such as aerial media, logistics and firefighting to contribute more revenue in the second half. The company held RMB 929.4 million in cash and investments at quarter-end. Don’t Miss These 3 Hidden Aerospace Gems Before They Take Off EHang (NASDAQ:EH) reported second-quarter revenue of RMB 77.9 million, down from RMB 113.3 million a year earlier but up 203% from RMB 25.7 million in the first quarter, as higher EH216-series sales volume and an additional VT-35 aircraft contribution supported sequential growth. Management said the company is shifting its emphasis from aircraft certification toward operational readiness, scenario validation, product development and overseas deployment. Founder, Chairman and CEO Hu Huazhi said certification is only the starting point for commercialization, and that scalable urban air mobility will depend on end-to-end operating capabilities, standardized solutions and regulatory support. → Rocket Lab's Sell-Off Is Fading—Is It Finally Safe to Buy? Top 3 Aerospace and Defense Stocks Flying Under the Radar The company delivered 35 EH216-S aircraft and one VT-35 during the quarter. It also completed 22 aerial-media shows and delivered 520 GD4 drones, according to management. EHang said a late-June accident involving a piloted light sport aircraft in China prompted regulators to take a more cautious approach to low-altitude aviation oversight. Hu said the incident was unrelated to EHang’s pilotless aircraft and did not reflect an issue with the company’s technology or safety record, but it has delayed the approval process for passenger-carrying commercial operations in Hefei. → Travel + Leisure Goes Big—Is It Ready to Rally? Joby Aviation Stock: Your Next High-Growth Opportunity “The commercial operation approval process for the Hefei project has been delayed, and the timing of regulatory clearance remains uncertain,” Hu said during the question-and-answer session. He added that the more stringent regulatory environment is not a rejection of EHang’s pilotless eVTOL approach. The company maintains that its pre-programmed, fixed-route and fleet-coordinated model has inherent safety advantages, and Hu said stricter safety regulation should benefit EHang over the long term. → What Rising Delivery Forecasts Say About Rivian's Stock Prospects EHang said its EH216-S aircraft and operating system have received the key certificates under China’s civil aviation framework, including type, production, airworthiness and air operator certificates. Its Guangzhou and Hefei operating systems have been in internal trial operations for about 1.5 years, management said, with a passenger satisfaction score of 4.94 out of 5. The EH216 series has accumulated nearly 100,000 safe flights, according to the company. Management said it is continuing to prepare for eventual public ticket sales by developing route operations, personnel training, maintenance, insurance, airspace coordination, emergency response and other operating functions. EHang has also begun point-to-point trial operations in Guangzhou. Outside China, EHang said its footprint expanded to 23 countries after adding Mexico and Switzerland during the quarter. In Thailand, the company expects to obtain an experimental flight permit in the third quarter and is targeting a formal commercial operations certificate by the end of 2026, subject to the Civil Aviation Authority of Thailand’s review process. COO Wang Zhao said EHang is working with Thai authorities to plan more than 10 passenger-carrying commercial routes covering Bangkok, Phuket, Koh Samui and Pattaya. He said formal EH216 deliveries for those operations are expected to begin next year, with each location anticipated to require at least five aircraft. The company has also shipped more than 1,000 GD4 formation drones to Thailand and plans regular drone-light-show operations in Bangkok and Pattaya, according to management. EHang said it has begun flight validation in Hong Kong through the Low-altitude Economy Regulatory Sandbox X trial project, with Sunny Port selected as its first sandbox site. It also introduced its Global Fast Track Program, a four-stage framework covering regulatory alignment, sandbox construction, validation flights and commercial launch. Sri Lanka is the first country to formally adopt the program, EHang said. While passenger mobility remains its strategic focus, EHang is pursuing non-passenger applications including logistics, firefighting and aerial media. Management said non-passenger business represented about 8% of second-quarter revenue, primarily from GD4 formation-drone performances, while air mobility represented about 92%. The company expects non-passenger revenue and its proportion of total revenue to increase in the second half, driven by formation-drone deliveries and a small number of firefighting product deliveries. Hu also said the company sees opportunities in short-range emergency logistics, longer-range logistics and firefighting applications. CTO Feng Choi said EHang is developing a cargo version based on the EH216-S platform, an approach intended to shorten development and certification timelines. The company is also testing an air-burst delivery system for early-stage forest-fire response and is advancing VT-30 firefighting-drone prototypes and logistics aircraft with customers. In aerial media, management said the business is moving from one-time events toward recurring on-site shows, which it believes can improve equipment utilization, customer retention and revenue predictability. EHang said aerial-media revenue increased more than 270% year over year in the second quarter and is expanding into Europe, Japan and Thailand. EHang reported a gross margin of 61.2%, compared with 61.5% a year earlier and 62.5% in the first quarter. CFO Conor Yang said the relatively stable margin reflected product competitiveness, manufacturing efficiency and supply-chain management despite quarterly changes in revenue and product mix. Adjusted operating expenses, excluding share-based compensation, rose 16.9% year over year and 11.5% sequentially to RMB 112.7 million. Yang attributed the increase to strategic investments and costs associated with organizational optimization. Adjusted operating loss narrowed to RMB 62 million from RMB 77.1 million in the first quarter, while adjusted net loss narrowed to RMB 58.5 million from RMB 75.6 million. As of June 30, EHang had RMB 929.4 million in combined cash, cash equivalents, short-term investments and treasury investments. Given uncertainty surrounding domestic passenger-carrying commercial approvals, EHang withdrew its previous 2026 revenue guidance of RMB 600 million and did not issue replacement guidance. Management said it will continue to provide updates on domestic approvals, international progress, non-passenger product deliveries, operating efficiency and cash position as conditions become clearer. EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery. The company's business model encompasses research and development, manufacturing, certification support, and operations services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "EHang Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

GUANGZHOU, China, Aug. 19, 2026 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), a world-leading advanced air mobility (“AAM”) technology platform company, today announced that it will release its unaudited financial results for the second quarter ended June 30, 2026 on Tuesday, August 25, 2026, before the U.S. market opens. EHang’s management team will host an earnings conference call at 8:00 AM on Tuesday, August 25, 2026, U.S. Eastern Time (8:00 PM on Tuesday, August 25, 2026, 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: https://s1.c-conf.com/diamondpass/10056824-n27awx.html Chinese line: https://s1.c-conf.com/diamondpass/10056826-dodgtb.html 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 EHangEHang (Nasdaq: EH) is the world’s leading advanced air mobility (“AAM”) technology platform company, committed to making safe, autonomous, and eco-friendly air mobility accessible to everyone. The company develops and manufactures a diversified portfolio of pilotless electric vertical take-off and landing (“eVTOL”) aircraft for a wide range of use cases, including aerial tourism, intra-city transport, intercity travel, logistics and emergency firefighting. Its flagship model, 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, and is now commercially operated under the country’s first Air Operator Certificates for human-carrying eVTOL services. Complementing this, EHang’s VT35 expands its reach into long-range and intercity scenarios, supporting the development of a multi-tiered low-altitude mobility network. By integrating advanced autonomous technologies with scalable operational infrastructure, EHang is redefining how people and goods move—across cities, regions, and natural barriers—shaping the future of air mobility. For more information, please visit www.ehang.com. 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: [email protected] Contact: [email protected]

Archer Aviation surged 11% Tuesday as earnings-call details revealed Boeing's Insitu subsidiary generates $200M+ annually and can fund Archer's operations independently. JOBY shares dropped 2% and EH stayed flat, indicating that the rally is Archer-specific and not a broad eVTOL sector move. Despite back-to-back double-digit rallies, ACHR remains down 10% year to date, with an analyst target of $10.50 implying meaningful upside potential. It sounds nuts, but SoFi1 is giving new Active Invest users up to $3,000 in stock for a limited time, and all it takes is a $50 deposit to get started.2 See for yourself (Sponsor) Archer Aviation (NYSE:ACHR) stock is climbing 11% to $6.93 Tuesday morning, extending Monday's 12% deal-day pop as investors continue to digest details from Archer's Q2 2026 earnings call. The move follows Monday's coverage of the Boeing (NYSE:BA) tie-up with Archer Aviation and reflects Day 2 follow-through on the same story. Archer's air-taxi peers aren't rallying with ACHR stock. Joby Aviation (NYSE:JOBY) shares are down 2% to $8.59, and EHang Holdings (NASDAQ:EH) shares are unchanged/flat at $5.68. The Invesco QQQ Trust (NASDAQ:QQQ) ETF is idle at $720.16, underscoring that this is a company-specific event, not a sector or index-driven rally. The fresh catalyst is the color that Archer Aviation's management provided on the call about the deal. Archer disclosed that its Q2 revenue came in at $5 million, up 213% quarter over quarter and well above the $1.96 million consensus. The per-share loss came in line with estimates, and Archer stock is responding to the growth setup rather than the bottom-line print. Archer Aviation CFO Priya Gupta framed the acquired Boeing subsidiary Insitu as a profitable business generating more than $200 million of revenue a year that is expected to contribute positive free cash flow, allowing Archer to operate on a "self-funding basis" and "significantly change the profile for Archer." CEO Adam Goldstein positioned the defense and drone assets as a route to profitability that reduces both cash burn and dilution risk. SoFi Active Invest is offering a limited-time promotion. Open an account, fund it with $50 or more, and you could receive up to $3,000 in complimentary stock for Active Invest accounts. See for yourself by clicking here now. (Sponsor) The cash-burn picture still matters. Archer Aviation posted a Q2 adjusted EBITDA loss of $177.1 million and guided Q3 to an adjusted EBITDA loss of $170 million to $200 million. The company ended the quarter with roughly $1.6 billion in liquidity, giving it runway to close the Boeing transaction and continue certification work. The Day 1 catalyst was Archer's all-stock agreement to acquire Boeing's Wisk Aero, Insitu, and SkyGrid subsidiaries, giving Boeing a 16% stake in Archer alongside a technology-sharing arrangement. None of those Boeing units trade separately. Boeing shares closed Monday at $232.79, and Boeing stock has barely moved on the news. Operational milestones stack the bull case. The Midnight aircraft has completed piloted city-to-city flights, and Archer says it is the only OEM in the final phase of FAA type certification. Management flagged its Halo-Thunder autonomous VTOL platform, developed with Anduril, as targeting a total addressable market above $100 billion with first flight next year and deliveries in 2029, alongside the ZEE aviation AI foundation model. Joby Aviation stock and EHang stock haven't participated in the ACHR stock rally, which is notable given both compete in the broader eVTOL and urban-air-mobility category. Neither name has issued fresh news today, and the flat print in QQQ shares (which doesn't hold small-cap Archer) reinforces that the stock is reacting to Archer's own catalysts. The one-day divergence is a clean signal that money is chasing the Boeing-driven pivot toward defense revenue, not an eVTOL basket rally. The broader picture for Archer stock is still mixed. Even after this pop, ACHR shares are down 10% year to date (YTD) and down 29% over the trailing year. The analyst target price of $10.5 implies meaningful upside if the Boeing deal delivers as guided. Investors can watch for signs of the Boeing acquisition closing by year-end, the first commercial eIPP flights in Texas and the Los Angeles area before year-end, and updated analyst notes reacting to the self-funding framing. Whether Archer Aviation stock can hold above the $6.85 level into the close may indicate if this Day 2 follow-through has legs, or if the deal-week trade is running out of fuel. Looking to grow your money but unsure where to begin? SoFi Active Invest is offering a limited-time promotion—open a new Active Invest account, fund it with $50 or more, and you could receive up to $3,000 in complimentary stock. From $0 commission trading3 to fractional shares4 and automated investing, this app is designed to simplify investing for everyone, whether you’re just starting or already experienced. Its easy to sign up and secure your bonus.(Sponsor) Contact [email protected] for any questions or corrections.

Interested in EHang Holdings Limited Unsponsored ADR? Here are five stocks we like better. EHang said first-quarter revenue was roughly flat year over year at RMB 25.7 million, but sharply lower sequentially due to delivery timing and seasonal factors. Despite the weaker quarter, the company kept its 2026 revenue target of RMB 600 million. The company emphasized it is in a critical transition from certification to commercial operations for its pilotless passenger eVTOL service. EHang said it has obtained the key certificates and is preparing ticketed public service launches in China once it receives final CAAC approval. Non-passenger businesses are becoming more important, with aerial media accounting for about 40% of first-quarter revenue. Management also highlighted overseas expansion, especially Thailand, and said it expects most 2026 orders to come in the second half of the year. Don’t Miss These 3 Hidden Aerospace Gems Before They Take Off EHang (NASDAQ:EH) said it remains focused on moving from aircraft certification to commercial operations after reporting first-quarter 2026 revenue that was roughly flat year over year but sharply lower than the prior quarter due to delivery timing and seasonal factors. Founder, Chairman and Chief Executive Officer Huazhi Hu told investors that the company is in a “critical transition from certification to commercial operation” as it works to launch what management described as the world’s first pilotless human-carrying eVTOL commercial service. Hu said EHang is working closely with regulators to move from internal trial operations to public ticketed service. → Meta Unveils Subscriptions: A New Offering With Real Growth Potential Top 3 Aerospace and Defense Stocks Flying Under the Radar Management also said China’s regulatory framework for the low-altitude economy is becoming more formalized. Hu cited the newly revised Civil Aviation Law, which is set to take effect July 1, as well as the establishment of a low-altitude safety bureau by the Civil Aviation Administration of China. He said clearer regulation should help the industry develop “faster and more properly.” Chief Financial Officer Conor Yang said first-quarter revenue was RMB 25.7 million, compared with RMB 26.1 million in the same period last year and RMB 177.6 million in the fourth quarter of 2025. He attributed the sequential decline mainly to lower eVTOL deliveries, partly offset by growth in non-human-carrying businesses. → Planet Labs: Coming Back Down to Earth Joby Aviation Stock: Your Next High-Growth Opportunity Chief Operating Officer Zhao Wang said EHang delivered four EH216-S units and 1,000 GD 4.0 formation drones in the quarter, while Yang later stated that the company delivered 40 EH216 series units, compared with 11 units in the first quarter of 2025 and 61 EH216 series units plus five VT-35 units in the fourth quarter of 2025. Management said the decline reflected the Chinese New Year holiday and customer delivery schedules. Gross margin was 62.5%, nearly unchanged from 62.4% a year earlier and slightly above 61.6% in the prior quarter. Yang said the margin reflected manufacturing efficiency and supply chain management improvements. → The Energy Trade Is Bigger Than Oil Prices: 3 Stocks to Buy and 2 to Sell Adjusted operating expenses rose to RMB 101.1 million from RMB 63.6 million a year earlier, driven by commercialization efforts, R&D team expansion and technology investment. Adjusted operating loss widened to RMB 77.1 million from RMB 42.6 million, while adjusted net loss was RMB 75.6 million, compared with RMB 31.1 million a year earlier. As of March 31, EHang had RMB 1.03 billion in combined cash and cash equivalents, restricted short-term deposits, and short-term and treasury investments. The company maintained its full-year 2026 revenue guidance of RMB 600 million. Yang also said EHang’s board approved a share repurchase program of up to $30 million of ADSs over the next 12 months, funded by existing cash reserves. Management highlighted the growing contribution from non-human-carrying businesses. Zhao said aerial media revenue accounted for about 40% of total first-quarter revenue, helped by GD 4.0 formation drone sales and performances. EHang completed 22 drone formation performances during the quarter. Li Xiaona, EHang’s newly promoted China general manager, said the company showcased 16 EH216-S aircraft and 22,580 GD 4.0 formation drones during the CMG 2026 Spring Festival Gala Hefei segment in February, setting a Guinness World Record. She said the performance improved brand awareness and demonstrated the company’s capabilities in fleet flights, remote dispatch and communications integration. During the Q&A session, management said the gross margin for GD 4.0 sales and flight performances was around 50%. Zhao said major costs include drone components, batteries, assembly costs, depreciation for company-owned drones, and personnel costs for performances. He added that firefighting models carry higher gross margins, with costs divided among carbon fiber materials, powertrain and battery systems, and other components. EHang executives repeatedly emphasized that commercial passenger operations remain the company’s top priority. Hu said the company has obtained type certificate, production certificate and airworthiness certificate approvals, while two operators hold operator certificates. Li said EHang’s two OC-certified operators in Hefei and Guangzhou are refining operations systems, ground support, crew training and emergency procedures while continuing internal trial operations. Since obtaining OCs in March 2025, she said the operators have maintained “0 accidents and 0 violations” and completed more than 3,000 EH216-S flights. Management said EHang has developed an end-to-end passenger service system covering ticket pricing, online and offline ticketing, customer service and complaint handling. In the Q&A, Zhao said the early-bird price for the Hefei site is RMB 299, with four EH216 aircraft scheduled for 14 flights per day. He said ticket-booking mini apps are operating and that the company is ready to launch commercial operations once it receives CAAC approval. Li also said crew training is progressing. EHang has completed internal instructor training preparations for the EH216-S model and submitted required materials. Management said official ground crew training is expected to begin in subsequent quarters after instructor training and approvals are completed. Chief Technology Officer Shuai Feng said the VT-35, EHang’s longer-range pilotless human-carrying eVTOL, has entered the certification basis definition stage, with the company working with the CAAC on safety evaluation, special conditions, safety objectives and performance requirements. He said ground and flight tests are continuing, and the VT-35 AVDOC system has entered detailed design. Feng also said EHang upgraded EH216-S systems for hot-weather operations, including a battery cooling vehicle that shortened cool-down times and doubled utilization in field tests. The company also upgraded the cabin air conditioning system with an independent cooling system that does not interfere with flight control or avionics circuits. On international expansion, Hu said EHang’s Thailand advanced air mobility sandbox program continues with routine validation flights. Li said Thailand is the company’s first flagship overseas market, with five vertiport locations identified and an initial airspace survey completed. Management said EHang is prioritizing validation of type certificates overseas and plans to use China’s bilateral airworthiness agreements with 32 countries for certification applications. In response to analyst questions, management said overseas revenue contribution is expected to increase, potentially reaching 10% of total revenue, depending partly on commercial progress in Thailand. Zhao said EHang is targeting official commercial operations in Thailand by the end of the year, ahead of an AAM conference in Bangkok. EHang also said it is developing non-human-carrying products for firefighting and inland waterway logistics. Li said new firefighting aircraft development is on schedule, while test routes have been selected at Guangzhou Port and the Pearl River main channel for logistics trials. In the Q&A, management said it expects most 2026 orders to arrive in the second half of the year, noting that many customers are government-related entities whose budget approvals are typically completed later in the year. Zhao said the company expects more than 50% of 2026 revenue to come from new customers. For the full year, management said it expects human-carrying products, including EH216 and VT-35 sales and deliveries, to contribute about 60% of revenue, while non-human-carrying businesses are expected to contribute roughly 40%. EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery. The company's business model encompasses research and development, manufacturing, certification support, and operations services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "EHang Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for June 2026.

This article first appeared on GuruFocus. Release Date: June 09, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. EHang Holdings Ltd (NASDAQ:EH) is transitioning from certification to commercial operation, aiming to launch the world's first pilotless human-carrying EVTOL into commercial service. The company has cleared certification hurdles and is focusing on commercial operations, with strong public enthusiasm for their RMB299 experience ticket. EHang Holdings Ltd (NASDAQ:EH) is making steady progress in global expansion, particularly in Thailand, where they are working on obtaining the first overseas operating license for EH216S. The company has a diversified revenue mix, with the aerial media business contributing approximately 40% of total revenue in Q1 2026. EHang Holdings Ltd (NASDAQ:EH) maintains a strong gross margin of 62.5% in Q1 2026, reflecting improvements in manufacturing efficiency and supply chain management. Revenues in Q1 2026 were $25.7 million, down from $177.6 million in Q4 2025, primarily due to lower EVTOL deliveries. Adjusted operating expenses increased by 59% year-over-year, driven by commercialization efforts, R&D team expansion, and increased technology investment. The company reported an adjusted operating loss of RMB77.1 million in Q1 2026, compared to RMB42.6 million in Q1 2025. The seasonal impact of the Chinese New Year holiday and customer delivery timing contributed to a decline in EVO deliveries. Near-term profitability was impacted by lower revenue scale and higher R&D expenditure, affecting financial performance. Warning! GuruFocus has detected 4 Warning Signs with EH. Is EH fairly valued? Test your thesis with our free DCF calculator. Q: What is the expected revenue mix for the remaining quarters of 2026, and how should we view the contribution from the overseas market? A: The revenue mix for 2026 is expected to be 60% from human-carrying businesses, including deliveries of EH216S and VT35, and 40% from non-human carrying businesses. The overseas revenue contribution is anticipated to increase significantly, with a focus on obtaining overseas Validation of Type Certificates (VTCs) and progressing projects in Thailand and Mexico. (Respondent: Unidentified_7) Q: What is the gross profit margin for the media business, and what is the outlook for this segment? A: The gross profit margin for the media business, specifically the GD 4.0 drone performances, is around 50%. The overall gross profit margin for the company remains above 60% due to higher margins in the human-carrying business. The company aims to maintain this margin as a full-year target. (Respondent: Unidentified_13) Q: Can you provide an update on the overseas orders and their expected timeline? A: The revenue contribution from overseas orders is expected to rise to 10% of the overall revenue, closely tied to commercial developments in Thailand. The goal is to launch official commercial operations by the end of the year, potentially increasing overseas revenue contribution if achieved earlier. (Respondent: Unidentified_13) Q: What are the key costs of goods sold in the aerial media business, and can you share any operational data from Hefei? A: The main costs in the aerial media business include drone costs, battery costs, and assembly line expenses. For operations, costs depend on the size and number of drones used, with depreciation and personnel costs also considered. In Hefei, the operation site is in the final stage of preparation for commercial operations, with over 3,000 flights completed and a safe record maintained. (Respondent: Unidentified_13) Q: Could you provide more details on order intake in 2026 and the timeline for operator training? A: The company is confident in its full-year revenue target of RMB600 million, with over 50% expected from new customers. Orders are primarily expected in the second half of the year. Operator training is divided into three stages, with the final stage of crew training expected to start in the following quarters, preparing the company to supply qualified ground crew to the market. (Respondent: Unidentified_13) For the complete transcript of the earnings call, please refer to the full earnings call transcript.

GUANGZHOU, China, June 09, 2026 (GLOBE NEWSWIRE) -- EHang Holdings Limited (Nasdaq: EH) (“EHang” or the “Company”), the world’s leading advanced air mobility (“AAM”) technology platform company, today announced its unaudited financial results for the first quarter ended March 31, 2026. Operational and Financial Highlights for the First Quarter of 2026 Sales and deliveries of electric vertical take-off and landing (“eVTOL”) aircraft were four units of EH216 series1, compared with 11 units of EH216 series in the first quarter of 2025, and 61 units of EH216 series and five units of VT35 in the fourth quarter of 2025. Total revenues were RMB25.7 million (US$3.7 million), compared with RMB26.1 million in the first quarter of 2025, and RMB177.6 million in the fourth quarter of 2025. Gross margin was 62.5%, a slight increase from 62.4% in the first quarter of 2025 and 61.6% in the fourth quarter of 2025. Operating loss was RMB127.9 million (US$18.5 million), compared with RMB89.9 million in the first quarter of 2025 and RMB43.0 million in the fourth quarter of 2025. Net loss was RMB126.4 million (US$18.3 million), compared with RMB78.4 million in the first quarter of 2025 and RMB20.9 million in the fourth quarter of 2025. Adjusted operating loss2 (non-GAAP) was RMB77.1 million (US$11.2 million), compared with RMB42.6 million in the first quarter of 2025, and adjusted operating income2 of RMB17.9 million in the fourth quarter of 2025. Adjusted net loss3 (non-GAAP) was RMB75.6 million (US$11.0 million), compared with RMB31.1 million in the first quarter of 2025, and adjusted net income3 of RMB40.1 million in the fourth quarter of 2025. Cash and cash equivalents, restricted short-term deposits, short-term investments and treasury investment balances were RMB1.03 billion (US$148.9 million) as of March 31, 2026. Business Highlights for the First Quarter of 2026 and Recent Developments Progress Toward EH216-S Commercial Operations in China As China advances toward public eVTOL commercial operations, EHang and its operating partners have been working closely with the CAAC to meet additional operational and safety requirements ahead of the launch of public ticketed flight services. The two Air Operator Certificate (“OC”) holders, EHang General Aviation and Heyi Aviation, have continued refining operational procedures, ground support systems, personnel training programs and emergency response capabilities while conducting routine internal trial commercial operations. Since obtaining their OCs in March 2025, both operators have maintained a flawless safety record with zero accidents and zero violations, completing more than 3,000 safe flight missions. Meanwhile, EHang has established a comprehensive commercial operation framework covering ticket pricing, online and offline ticketing channels, customer service, public feedback management and standardized operating procedures. With over 40 eVTOL operation sites already established by customers and partners across China, some of which are in routine flights, the Company is continuing to expand operational capacity and further refine its scalable operating model for future commercial deployment. In preparation for the EH216-S crew training program, EHang assembled an experienced instructor team and secured all necessary resources, including training aircraft, facilities, and practice sites. In May 2026, the CAAC issued the Training Requirements for Remote Pilot of Large Civil Unmanned Aircraft System, providing a regulatory framework for standardized training of EH216-S ground operating crew. EHang’s early preparation efforts have also contributed practical insights to the development of this industry standard. The training program is ready for implementation and will be launched promptly upon receiving CAAC approval, laying a core talent foundation for future scaled commercial operations. EH216-S Upgrades to Enhance Operational Efficiency and Passenger Experience EHang continued to optimize the EH216-S platform with a focus on improving operational efficiency and passenger comfort, particularly in high-temperature operating environments. To enhance aircraft utilization, the Company developed a dedicated battery cooling vehicle that significantly shortens battery cooling time between flights, supporting higher operational frequency. In addition, EHang introduced an independent air-conditioning system for the EH216-S cabin. The upgraded system effectively reduces cabin temperature and improves passenger comfort without compromising flight safety and performance. Progress on VT35 Certification Process EHang continued advancing the research, development, and airworthiness certification for the VT35 long-range lift-and-cruise eVTOL aircraft. The certification process is currently in the Certification Basis definition phase, with in-depth discussions with the CAAC regarding Special Conditions, safety objectives, and performance requirements. The Company also continued critical test flights to validate system functionality and performance, while detailed avionics design progressed in preparation for certification prototype manufacturing. Aerial Media Business Continues to Gain Traction Building on the successful performance of 16 EH216-S aircraft and 22,580 GD4.0 formation drones at the CMG 2026 China Spring Festival Gala in Hefei, which set a new Guinness World Records™ title, EHang experienced increased market interest in its aerial media solutions. During the first quarter of 2026, EHang delivered 22 aerial media shows and 1,000 units of GD 4.0 formation drones. Revenue contribution from aerial media solutions represented approximately 40% of total revenue for the quarter, reflecting growing customer adoption and a more diversified revenue mix. Global Expansion Thailand: Thailand remains EHang’s strategic benchmark market overseas. Under the AAM Sandbox framework, the Company has continued advancing regulatory engagement, operational preparation and local capability building. Five vertiport locations have been identified and the survey of the first operational route has been completed. To support operations in Thailand’s hot and humid island environment, EHang has completed localized upgrades to key systems, including battery cooling and cabin air-conditioning solutions. The Company is now actively working with the Civil Aviation Authority of Thailand (“CAAT”) to advance the approval process for commercial operations, while leveraging the Thailand program as a model for future international market expansion. Mexico: In May 2026, EHang's flagship EH216-S successfully completed the first human-carrying pilotless eVTOL flights in Mexico and Latin America during the FAMEX Tulum Air Show 2026. Executed in coordination with our local operator under the local regulatory framework, the milestone demonstrated the operational capability of the EH216-S in airport environments and marked an important step toward future deployment of pilotless eVTOL operations in the region. Share Repurchase Program On June 8, 2026, the Company's Board of Directors has approved a Share Repurchase Program, pursuant to which the Company may repurchase up to US$30 million of its American Depositary Shares (“ADSs”) or ordinary shares over the next 12 months. The Company's proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on the market conditions and in accordance with applicable federal securities laws, including Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The timing and amount of any share repurchases under the Share Repurchase Program will be determined by the Company’s management at its discretion based on ongoing assessments of price, trading volume and general market conditions, along with the Company's working capital requirements, general business conditions and other factors. The Company expects to fund repurchases made under this program mainly from its existing cash balance. Management Remarks Mr. Huazhi Hu, Founder, Chairman and Chief Executive Officer of EHang: “The first quarter of 2026 marked an important transition period as we continued advancing from airworthiness certification achievements toward commercial deployment. We remained focused on the four strategic priorities we outlined at the beginning of the year: advancing commercial operation readiness, expanding our global footprint, progressing the VT35 certification, and strengthening our integrated industrial capabilities. This quarter, we continued refining operational systems and procedures with regulators and partners, upgraded EH216-S for hot-weather conditions, advanced VT35 key certification activities and Thailand’s AAM sandbox program. At the industry level, China’s low-altitude economy is entering a new stage of development, supported by an increasingly comprehensive legal, regulatory, and standards framework that provides a solid foundation for sustainable growth. As the world’s first company to obtain the full suite of airworthiness and operational certifications for a pilotless human-carrying eVTOL aircraft, we believe our competitive advantage extends beyond certification and manufacturing. It lies in our ability to establish safe, scalable, and sustainable operational models. Looking ahead, we will continue to prioritize safety, compliance, and operational excellence while steadily advancing the commercialization of advanced air mobility.” Mr. Conor Yang, Chief Financial Officer of EHang: “Our first quarter financial performance reflected normal seasonal dynamics and aircraft delivery schedules, while our business fundamentals remain stable. We are maintaining our annual revenue guidance of RMB600 million, supported by the market demand, ongoing progress toward public commercial operations, expanding international opportunities and diversified revenue sources. Notably, the aerial media business gained solid traction and contributed approximately 40% of total revenues during the first quarter, reflecting further diversification of our revenue mix. We will continue balancing business expansion with disciplined cost management, while maintaining a healthy financial profile to support our long-term growth strategy. Additionally, the Board has approved a 12-month share repurchase program, authorizing the repurchase of up to US$30 million of ADSs or ordinary shares, demonstrating our confidence in the Company’s long-term value and future growth.” Unaudited Financial Results for the First Quarter of 2026 Revenues Total revenues were RMB25.7 million (US$3.7 million), compared with RMB26.1 million in the first quarter of 2025, and RMB177.6 million in the fourth quarter of 2025, primarily driven by decreased sales volume of eVTOL aircraft, partially offset by growth from non-human-carrying business. Costs of revenues Costs of revenues were RMB9.6 million (US$1.4 million), on par with RMB9.8 million in the first quarter of 2025 and RMB68.3 million in the fourth quarter of 2025. The quarter-over-quarter decrease was in line with the decrease in the sales volume of eVTOL aircraft. Gross profit and gross margin Gross profit was RMB16.0 million (US$2.3 million), compared with RMB16.3 million in the first quarter of 2025, and RMB109.4 million in the fourth quarter of 2025. The quarter-over-quarter decrease was primarily due to the decrease in the sales volume of eVTOL aircraft.Gross margin was 62.5%, a slight increase from 62.4% in the first quarter of 2025 and 61.6% in the fourth quarter of 2025. Operating expenses Total operating expenses were RMB151.7 million (US$22.0 million), compared with RMB110.9 million in the first quarter of 2025, and RMB154.4 million in the fourth quarter of 2025. Sales and marketing expenses were RMB23.9 million (US$3.5 million), compared with RMB12.2 million in the first quarter of 2025, and RMB38.3 million in the fourth quarter of 2025. The year-over-year increase was attributed to higher share-based compensation expenses due to new grant of share-based awards in second quarter of 2025, primarily subject to four-year vesting schedule, increased employee compensation driven by workforce expansion and increased marketing and promotional fees. The quarter-over-quarter decrease was attributed to lower share-based compensation expenses due to a certain portion of share-based awards fully vested in 2025 and decreased sales-related compensation driven by lower sales volume. General and administrative expenses were RMB67.7 million (US$9.8 million), compared with RMB61.3 million in the first quarter of 2025, and on par with RMB67.1 million in the fourth quarter of 2025. The year-over-year increase was mainly attributed to increased employee compensation driven by workforce expansion and increased depreciation and amortization of property and equipment as our new headquarter buildings were placed in service due to workforce expansion, partly offset by lower share-based compensation expenses. Research and development expenses were RMB60.1 million (US$8.7 million), compared with RMB37.3 million in the first quarter of 2025, and RMB49.1 million in the fourth quarter of 2025. The year-over-year increase was mainly attributed to increased employee compensation driven by workforce expansion and incremental expenditures on different models of eVTOL aircraft, including VT35 development and certification. The quarter-over-quarter increase was mainly attributable to continuous expenditures on development of the eVTOL aircraft. Operating loss Operating loss was RMB127.9 million (US$18.5 million), compared with RMB89.9 million in the first quarter of 2025 and RMB43.0 million in the fourth quarter of 2025. Net loss Net loss was RMB126.4 million (US$18.3 million), compared with RMB78.4 million in the first quarter of 2025 and RMB20.9 million in the fourth quarter of 2025. Net loss per ordinary share and per ADS Basic and diluted net loss per ordinary share were both RMB0.83 (US$0.12). Basic and diluted net loss per American depositary share (“ADS”) were both RMB1.66 (US$0.24). Each ADS represents two of our Class A ordinary shares. Balance sheets Cash and cash equivalents, restricted short-term deposits, short-term investments and treasury investment balances were RMB1.03 billion (US$148.9 million) as of March 31, 2026. 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, or such expenses were not deductible. 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 item of (i) share-based compensation expenses and (ii) certain non-operational expenses, such as provisions for legal proceedings, 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 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. Adjusted operating expenses4 (non-GAAP) Adjusted operating expenses4 were RMB101.1 million (US$14.7 million), compared to RMB63.6 million in the first quarter of 2025 and RMB93.7 million in the fourth quarter of 2025. In the First Quarter of 2026, adjusted sales and marketing expenses4, adjusted general and administrative expenses4, and adjusted research and development expenses4 were RMB18.6 million (US$2.7 million), RMB31.4 million (US$4.5 million), and RMB51.1 million (US$7.5 million), respectively. Adjusted operating income (loss)2 (non-GAAP) Adjusted operating loss2 was RMB77.1 million (US$11.2 million), compared with RMB42.6 million in the first quarter of 2025 and compared with adjusted operating income2 of RMB17.9 million in the fourth quarter of 2025. Adjusted net income (loss)3 (non-GAAP) Adjusted net loss3 was RMB75.6 million (US$11.0 million), compared with RMB31.1 million in the first quarter of 2025 and adjusted net income3 of RMB40.1 million in the fourth quarter of 2025. Adjusted net income (loss) attributable to EHang’s ordinary shareholders5 (non-GAAP) Adjusted net loss attributable to EHang’s ordinary shareholders5 was RMB75.2 million (US$10.9 million), compared with RMB30.8 million in the first quarter of 2025 and adjusted net income attributable to EHang’s ordinary shareholders5 of RMB40.0 million in the fourth quarter of 2025. Adjusted net loss per ordinary share6 and per ADS7 (non-GAAP) Adjusted basic and diluted net loss per ordinary share6 were RMB0.50 (US$0.07). Adjusted basic and diluted net loss per ADS7 were RMB1.00 (US$0.14). Business Outlook For the fiscal year 2026, the Company currently maintains the annual revenue guidance of around RMB600 million. 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 Tuesday, June 9, 2026, U.S. Eastern Time (8:00 PM on Tuesday, June 9, 2026, 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: https://s1.c-conf.com/diamondpass/10055177-wdgnt0.html Chinese line: https://s1.c-conf.com/diamondpass/10055179-jzwcug.html 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 (Nasdaq: EH) is the world’s leading advanced air mobility (“AAM”) technology platform company, committed to making safe, autonomous, and eco-friendly air mobility accessible to everyone. The company develops and manufactures a diversified portfolio of pilotless electric vertical take-off and landing (“eVTOL”) aircraft for a wide range of use cases, including aerial tourism, intra-city transport, intercity travel, logistics and emergency firefighting. Its flagship model, 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, and is now commercially operated under the country’s first Air Operator Certificates for human-carrying eVTOL services. Complementing this, EHang’s VT35 expands its reach into long-range and intercity scenarios, supporting the development of a multi-tiered low-altitude mobility network. By integrating advanced autonomous technologies with scalable operational infrastructure, EHang is redefining how people and goods move—across cities, regions, and natural barriers—shaping the future of air mobility. 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 AAM 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. Exchange Rate This press release contains translations of certain Renminbi (“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 RMB6.8980 to US$1.00, the noon buying rate in effect on March 31, 2026, 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: [email protected] Media Contact: [email protected] _____________________1 The EH216 series include the EH216-S (standard model for passenger transportation), the EH216-F (specialized model for aerial firefighting), and the EH216-L (specialized model for aerial logistics). 2 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”.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. See “Non-GAAP Financial Measures”.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 is defined as the respective expense—sales and marketing expenses, general and administrative expenses, and research and development expenses—excluding share-based compensation expenses.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.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.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.8 As of December 31, 2025 and March 31, 2026, amount due from related parties of RMB5,256 and RMB671 (US$97) was included in accounts receivable, net, respectively.9 As of December 31, 2025 and March 31, 2026, amount due from a related party of RMB2,070 and nil was included in prepayments and other current assets, respectively.10 As of December 31, 2025 and March 31, 2026, amount due to related parties of RMB2,307 and RMB2,305 (US$334) are included in contract liabilities, respectively.