Summary by Moomoo AI
EHang achieved record-breaking Q2 2024 results with revenues soaring 919.6% YoY to RMB102.0 million, driven by the highest quarterly delivery of 49 EH216 series units. The company reported its first adjusted net income of RMB1.2 million, while maintaining positive operating cash flow for the third consecutive quarter. Gross margin improved to 62.4%.The company secured major orders including 50 EH216-S units with a 450-unit purchase plan in Shanxi, 30 units with a 270-unit plan in Zhejiang, and expanded into the Middle East with successful debut flights in UAE and Saudi Arabia. EHang strengthened its financial position by raising US$76.2 million through an at-the-market offering.Significant operational progress includes obtaining the world's first Production Certificate from CAAC for EH216-S mass production, having Air Operator Certificate applications accepted by CAAC, and forming strategic partnerships with China Southern Airlines General Aviation for collaborative eVTOL operations and GBT for ultra-fast charging solutions development.
