EHang reports 216 autonomous aerial vehicle completes debut flight demo » 11:2911/2911/29/21
EHang stated in a post to…
EHang stated in a post to its corporate website: "The world's leading autonomous aerial vehicle EHang 216 completed its debut flight demonstration for aerial sightseeing in the world-famous tourism hotspot of Bali, Indonesia. This demonstration flight was conducted under EHang's cooperation with an Indonesian local partner Prestige Aviation, a subsidiary of Prestige Corp... Prior to the flight demo, the Directorate General of Civil Aviation of the Republic of Indonesia issued the Special Certificate of Airworthiness for the EHang 216 AAV, enabling it to be the Indonesia's first passenger-grade AAV approved for a public unmanned flight demo." Reference Link
EHang appoints PwC as new auditor » 07:1311/2911/29/21
EHang Holdings announced…
EHang Holdings announced the appointment of PricewaterhouseCoopers Zhong Tian as its independent registered public accounting firm, effective November 29, 2021, in connection with the audit of the Company's consolidated financial statements for the fiscal year ended December 31, 2021. PwC succeeds Ernst & Young Hua Ming LLP, which previously was the independent registered accounting firm providing audit services to the Company. The change of the Company's independent registered public accounting firm was made after a careful and thorough evaluation process and has been approved by EHang's Audit Committee and the Board of Directors. EY's audit reports on the Company's consolidated financial statements as of and for the years ended December 31, 2019 and 2020 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. During the years ended December 31, 2019 and 2020 and the subsequent interim period preceding November 29, 2021, there has been no disagreements between the Company and EY on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of EY, would have caused it to make reference to the disagreements in its audit reports
|Over a month ago|
EHang announces partnership with Aena » 10:5510/2710/27/21
EHang announced via…
EHang announced via Twitter a partnership with Aena, an airport management operator, "to carry out projects including #AAV trial flights, AAV management and operation, vertiport,etc. and finally realize the seamless end-to-end flights." Reference Link
EHang assumed with an Equal Weight at Morgan Stanley » 08:5510/1910/19/21
Morgan Stanley analyst…
Morgan Stanley analyst Tim Hsiao assumed coverage of EHang with an Equal Weight rating and $23 price target. Short-term sales declines as the company diversifies its business from being a pure autonomous aerial vehicle maker to also being an urban air mobility operator have been "largely priced in," but industry and regulatory environments are uncertain and will challenge the company's execution ability, Hsiao said.
EHang added to FTSE Russell Global Equity Index Series » 08:5909/0809/08/21
EHang Holdings announces…
EHang Holdings announces that the Company's stock will be added as a constituent of the FTSE Russell Global Equity Index Series, following FTSE's most recent semi-annual review. The inclusions in the three indexes listed below will become effective after the close of business on Friday, September 17, 2021. FTSE Global Small Cap Index; FTSE Global All-Cap Index; FTSE Global Total-Cap Index.
|Over a quarter ago|
EHang 216, Falcon AAVs complete BVLOS trial flights in Estonia » 09:1409/0309/03/21
EHang Holdings announced…
EHang Holdings announced its flagship passenger-grade AAV EHang 216 and Falcon logistics model have completed Beyond Visual Line of Sight trial flights for airport transport and parcel delivery in Estonia under the European Union's GOF 2.0 Integrated Urban Airspace Validation project to demonstrate safe, autonomous and eco-friendly urban air mobility and the integration of unmanned aerial vehicles and air taxis into manned operations with air traffic management and U-space services. The Estonian Transport Administration issued a Special Permit to EHang for trial flights in designated Estonian airspace until the end of 2021.The EHang 216 is the first passenger-grade AAV to have conducted BVLOS trial flights in Estonian airspace. During the live trials, the EHang 216 performed a flight mission of passenger VIP transport scenario from the Tartu Airport to the Estonian Aviation Museum, no passenger onboard, to demonstrate the uses cases and scenarios of eVTOL intra-urban and peri-urban flights. Moreover, the EHang Falcon logistics model completed a flight mission of parcel delivery from the Tartu Airport to a cargo terminal at the Estonian Aviation Museum, to demonstrate the uses cases and scenarios of automated parcel delivery drones operating at low level.
EHang reports Q2 adjusted operating loss (RMB 49.4M) vs. (RMB 11.1M) last year » 07:1608/2508/25/21
Reports Q2 revenue $1.9M,…
Reports Q2 revenue $1.9M, down 65.9% from last year. CEO Huazhi Hu says: "In the second quarter, our quarterly gross margin increased to a record high of 68%, reflecting our growing competitive strengths and leadership position. We made meaningful progresses toward the certification process and trial operations for our existing AAV products such as the EHang 216 and the EHang 216F, and further made our product and solution portfolio well-rounded for urban air mobility by introducing the new model VT-30. Looking ahead, we will continue moving towards our long-term strategic goal of becoming a UAM platform operator through accumulating solid momentum as we are implementing the '100 Air Mobility Routes Initiative'. With that goal in mind, we have so far targeted 15 self-run operation spots and another 21 spots run by our customers, mostly in Southern China. Meanwhile, we are making efforts to get ourselves ready for trial operations through production optimizations and the prioritizing certification process. We are confident in maintaining our leadership position and competitiveness among our industry peers in the burgeoning UAM market." Shares of EHang are down 10.5% in early pre-market trading at $22.78.
EHang cancels Investor Day, releases video of Yunfu production facility » 09:2108/1808/18/21
EHang Holdings announces…
EHang Holdings announces the cancellation of the EHang Yunfu Investor Day due to the latest tightening COVID-19-related travel and group gathering restrictions by the local governmental authorities following the recent Delta variant outbreak in China. The event was originally scheduled to take place in person at the Company's new Yunfu production facility today. As an alternative, the Company has posted a video of the Yunfu production facility in operation for investors' reference. The EHang Yunfu production facility is approximately 24,000 square meters in gross floor area to house the major AAV production processes from manufacturing of key components and carbon fiber composite airframes to AAV assembling and flight testing in designated function areas.
EHang announces commencement of operations in Yunfu production facility » 08:3307/2607/26/21
EHang announced that, as…
EHang announced that, as scheduled, it has commenced operations at its new AAV production facility in Yunfu city, China in late June 2021. The new facility represents a scale-up of the company's production capabilities. As a new AAV production site of EHang, the Yunfu facility has total planned gross floor area of approximately 24,000 square meters. The site is equipped with a series of function areas across the whole production process from components manufacturing to aircraft assembling. It also includes a research and training center.
Largest borrow rate increases among liquid names » 08:4506/2206/22/21
KBE, MVIS, UWMC, NNOX, EH, PRTS, XL, DNN, SOLO, WPRT
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: SPDR S&P Bank (KBE) 2.39% +2.10, Microvision (MVIS) 8.62% +1.36, UWM Holdings Corp (UWMC) 22.80% +1.06, Nano X Imaging (NNOX) 11.61% +0.76, EHang Holdings Ltd (EH) 14.70% +0.62, US Auto Parts Network (PRTS) 0.82% +0.57, XL Fleet (XL) 7.15% +0.43, Denison Mines (DNN) 2.38% +0.40, Electrameccanica Vehicles Corp (SOLO) 12.67% +0.39, and Westport (WPRT) 3.89% +0.38.