EHang Holdings Ltd
NASDAQ:EH
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EHang Holdings Ltd
EHang Holdings Ltd. operates as an autonomous aerial vehicle technology platform company. The company is headquartered in Guangzhou, Guangdong. The company went IPO on 2019-12-12. The firm design, develop, manufacture, sell and operate AAVs and their supporting systems and infrastructure for a broad range of industries and applications, including passenger transportation, logistics, smart city management and aerial media solutions.
EHang Holdings Ltd. operates as an autonomous aerial vehicle technology platform company. The company is headquartered in Guangzhou, Guangdong. The company went IPO on 2019-12-12. The firm design, develop, manufacture, sell and operate AAVs and their supporting systems and infrastructure for a broad range of industries and applications, including passenger transportation, logistics, smart city management and aerial media solutions.
Deliveries: EHang delivered a record 221 eVTOLs in 2025 and hit 100 units in Q4 (95 EH216 + 5 VT35), driving a strong revenue quarter.
Profitability: The company reported its first ever GAAP profitable quarter (net income RMB 10.5 million in Q4) and a second consecutive year of adjusted (non‑GAAP) profitability (adjusted net income RMB 29.4 million for 2025).
Revenue: Q4 revenue was RMB 243.8 million (up 48.4% YoY, up 163.6% QoQ); full‑year revenue was RMB 509.5 million (up 11.7% YoY) and beat the company’s annual guidance.
Commercial launch: EHang will begin public, ticketed pilotless EH216‑S passenger flights in March in Guangzhou and Hefei (early bird price RMB 299), positioning it as the world’s first such service if successful.
2026 guidance: Management guided full year revenue of RMB 600 million for 2026 (≈ 18% growth vs 2025) and expects overseas revenue to increase to double digits as a percent of total.
Certification & new products: VT35 made certification progress (critical flight tests and a type‑certification team meeting); management expects China type certification within about two years.
International expansion: Thailand Sandbox is close to yielding a commercial operation license; management expects initial overseas commercial deployments to start in Q2 2026 with potentially dozens of units this year.
