公司發佈24Q3財報。
24Q3營業收入1.28億元，同比增長348%，高於公司此前指引; 淨虧損4810萬元，同比縮窄28.3%，調整后凈利潤為1,570萬元，環比增長1,262.0%，連續第二個季度實現調整后凈利潤。公司連續四個季度實現正向經營性現金流，疊加11月獲得總額為2,200多萬美元的戰略投資，投資者為英搏爾以及一家來自中東的投資機構，今年以來累計融資近1億美元，增強公司的財務狀況。旗艦EH216-S系列產品交付數量為63架，同比/環比均實現大幅增長，續創季度交付新高。
24Q3E revenue up 348% yoy; adjusted net earnings in the black for a 2nd quarter
EHang released unaudited 24Q3E financial results recently:
· Revenue
arrived at RMB128m, up 348% yoy, surpassing company guidance.
· Net earnings
showed a loss of RMB48.1m, improving 28.3% yoy, although adjusted net profit at RMB15.7m saw a second quarter of positive earnings, up 1,262.0% qoq.
· Cash and finances
: positive operating cash flow in Q3 maintained the trend four quarters in a row. EHang received strategic investments exceeding USD22m in total In November, including those from Enpower and a Middle Eastern investment institution. The company boosted its financial condition on raising close to USD100m so far this year.
Deliveries
: EHang delivered 63 of its flagship EH216-S, its proprietary-tech pilotless passenger eVTOL (electric vertical take-off and landing) aircraft, a leap in both yoy and qoq terms, which set a record for quarterly deliveries.
2024E and Q4E guidance
: the company guides 24Q4E revenue at RMB135m, up 138.5% yoy, and 2024E revenue at RMB427m, up 263.5%.
國內業務方面
：在多個城市實現eVTOL銷售和運營進展。獲得EH216-S的適航三證后，批量生產和交付持續推進。公司在合肥、廣州、深圳、太原、文成、珠海等多個城市打造UAM示範專案，及eVTOL運營樣板。公司還在本季度獲得來自福建、重慶、天津、貴州、陝西客戶的新訂單並完成交付。此外，運營合格證審定工作正穩步推進，獲批后可開啟商業化運營。
合肥
：公司與合肥市政府合作，11月在駱崗中央公園落成新的UAM樞紐港，佔地近2000平方米，可供至多20架EH216-S開展運行，包含售票廳、候機區、乘機區、指揮調度中心以及充電維護區等功能區域。
廣州
：公司客戶合利智能9月在廣州市中心完成了EH216-S天德廣場至海心沙島跨江eVTOL航線首次往返飛行展示。10月，EH216-S在南沙區完成無人駕駛載人飛行，南沙區計劃打造一個海陸空全空間無人體系。
太原
：第三季度，億航智能向太原西山文旅交付了額外40架EH216-S，用於低空觀光和旅遊場景。
文成
：文成已打造和規劃多個為EH216-S eVTOL定製的垂直起降點和航線，用於空中觀光及旅遊。公司與文成交通發展集團有限公司成立合資企業，負責eVTOL的銷售、租賃、維護及運營。文成正在建設一個佔地2萬平方米的商業中心，集商務、生活、運營及EH216-S展示和交付區於一體。
珠海
：公司與珠海萬山開發集團合作，7月在珠海建立萬山陸島低空運營中心，該中心整合了億航eVTOL的空中物流及客運一體化運營; 公司與中國郵政一起共同發佈了「珠無1」海島物流航線。億航智能的VT-20系列物流eVTOL航空器完成了首個海島往返航線飛行。
China: eVTOL sales and operations penetrate many cities across the country
Having obtained three airworthiness certificates for EH216-S, EHang kept up with mass production and deliveries. It set up urban air mobility (UAM) demonstration projects for eVTOL operating models in many cities, including Hefei, Guangzhou, Shenzhen, Taiyuan, Wencheng and Zhuhai. The company took new orders as well as made deliveries to customers in Fujian, Chongqing, Tianjin, Guizhou and Shaanxi in the quarter. In the run-up to commercial operations, EHang’s progress in obtaining operating certificate approvals is going smoothly.
Hefei
: working with the Hefei municipal government in Anhui province, EHang completed the construction of a new UAM hub at Luogang Central Park in November. The facility covers nearly 2,000sqm and its operations accommodate up to 20 EH216-S aircraft, including functional spaces like the ticket office, waiting and boarding areas, command and dispatch centers, and charging and maintenance areas.
Guangzhou
: EHang customer Heli Intelligent completed its first EH216-S eVTOL round-trip demo flight in September, which took the cross-river route from Tiande Square to Haixinsha Island in the center of Guangzhou. Next, the EH216-S completed an unmanned flight in Nansha district in October as part of plans to build an unmanned system for sea, land and air transportation across the entire space.
Taiyuan
: EHang delivered 40 more EH216-S aircraft in Q3 to Taiyuan Xishan Tourism, which fulfills the customer’s low-altitude sightseeing and tourism scenarios.
Wencheng
: Wencheng county in Wenzhou city, Zhejiang province built multiple take-off and landing points with routes customized for the EH216-S eVTOL to conduct aerial sightseeing and tourism experiences. EHang and Wencheng Transportation Development Group established a JV to handle eVTOL flight sales, leasing, maintenance and operations. Wencheng is building a 20,000sqm commercial center that integrates business, living, operations and EH216-S display and delivery areas.
Zhuhai
· EHang cooperated with Zhuhai Wanshan Development Group to establish the Wanshan Land-Island Low-Altitude Operation Center in Zhuhai in July, which integrates eVTOL air logistics and passenger transport operations.
· Ehang and China Post co-launched in July the Zhuhai #1 Route, a low-altitude logistical island-hopping route, when EHang’s VT-20 logistics eVTOL smart aircraft completed its first islands round trip.
海外業務方面
：在多個國家擴展國際業務，推進適航認證。
巴西
：巴西國家民航局（“ANAC”） 9月授予EH216-S試驗飛行許可證書，允許其在巴西開展試運行。EH216-S與Gohobby合作，在巴西開展廣泛的試飛和測試活動，促進本地適航認證，並與ANAC、巴西空管局以及中國民航局（CAAC）合作推進當地適航認證進程。
泰國
：11月，EH216-S獲得泰國民航局（CAAT）頒發的演示飛行許可證，完成多次在泰國的載人飛行，公司與CAAT合作計劃在泰國繼續開展EH216-S的飛行測試，致力於2025年在布吉島和蘇梅島等地區啟動商業飛行運營。日本：EH216-S於10月完成了新一輪四城巡飛。
阿聯酋
：11月EH216-L在阿布達比完成一次跨海平台飛行，展示其作為物流eVTOL的穩定性和安全性。
International markets: EH216 test flights in Brazil, Thailand, Japan and UAE
Brazil
: Agência Nacional de Aviação Civil (ANAC) granted an experimental flight permit to EH216-S in September, which allows EHang to conduct test operations in Brazil. EHang worked with Gohobby to conduct extensive EH216-S test flights and activities in Brazil in the prelude to obtaining local airworthiness certification, and it also worked with ANAC, the National Civil Aviation Agency of Brazil and the Civil Aviation Administration of China (CAAC) to advance the local airworthiness certification process.
Thailand
: the Civil Aviation Authority of Thailand (CAAT) awarded EH216-S a demo flight license in November, after which the aircraft completed multiple manned flights in Thailand. EHang plans to continue working with CAAT to conduct more EH216-S flight tests in Thailand. It has committed to the launch of commercial flights in Phuket, Koh Samui and other areas by 2025E.
Japan
: the EH216-S completed a new round of four-city patrol flights in October.
UAE
: the EH216-L logistics eVTOL completed a cross-sea platform flight in Abu Dhabi in November, a demonstration of its stability and safety.
產業鏈佈局深化：固態電池技術突破，續航能力大幅提升
：EH216-S完成首次eVTOL固態電池飛行試驗，飛行時長達到為48分鐘10秒，續航時間提升60%-90%。公司目標爭取在2025年底前實現固態電池在EH216-S的認證和裝機量產。
與英搏爾達成合作
：11月，億航智能與國內新能源汽車動力系統供應商英搏爾達成長期戰略合作及技術開發合作，致力於共同開發適用於億航智能eVTOL系列產品的高性能電機及電機控制器產品。
Value chain expansion: solid-state battery tech enables far better endurance
Solid-state battery
: the EH216-S equipped with solid-state batteries for eVTOLs completed its first flight test. The flight time of 48 minutes and 10 seconds saw a 60-90% increase in endurance. Next up, the company plans to obtain certification to mass produce EH216-S solid-state batteries by end-2025E.
Enpower collab
: EHang established long-term strategic cooperation and technology development cooperation with Enpower in November. Enpower is a Chinese new energy vehicle power system supplier and it has committed to jointly develop high-performance motors and motor controller products suitable for EHang’s eVTOL series products.
