EHang Holdings Ltd Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>EHang Holdings Ltd has submitted its 2023 annual report on Form 20-F, detailing its financial performance and operational status.</b>

AI Summary

EHang Holdings Ltd (EH) filed a Foreign Annual Report (20-F) with the SEC on April 15, 2024. EHang Holdings Ltd filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located in Guangzhou, China. The report includes financial data for the fiscal years 2023, 2022, and 2021. Key dates mentioned include previous filings and reporting periods dating back to 2017.

Why It Matters

For investors and stakeholders tracking EHang Holdings Ltd, this filing contains several important signals. This 20-F filing provides a comprehensive overview of EHang's financial health and business operations for the fiscal year 2023, which is crucial for investors to assess the company's progress and future prospects. The detailed financial statements and disclosures within the 20-F are essential for understanding EHang's market position, regulatory compliance, and any potential risks or opportunities in the advanced air mobility sector.

Risk Assessment

Risk Level: medium — EHang Holdings Ltd shows moderate risk based on this filing. The company operates in the nascent and rapidly evolving advanced air mobility sector, which faces significant regulatory hurdles and market acceptance challenges, as indicated by the nature of its business and the need for extensive disclosures in its 20-F filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 20-F to understand EHang's financial position and the specific challenges and opportunities in the autonomous aerial vehicle market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 20-F filing)
• 2024-04-15 — Filing Date (Date the 20-F was submitted to the SEC)
• 2022-12-31 — Prior Fiscal Year End (Comparative financial data year)
• 2021-12-31 — Prior Fiscal Year End (Comparative financial data year)

Key Players & Entities

• EHang Holdings Ltd (company) — Filer of the 20-F report
• 2024-04-15 (date) — Filing date of the 20-F
• 2023-12-31 (date) — Fiscal year end for the report
• Guangzhou (location) — City where company offices are located
• 0001759783 (company) — Central Index Key for EHang Holdings Ltd

FAQ

Risk Factors

• Regulatory Approvals and Certifications [high — regulatory]: The company's ability to operate and commercialize its products depends on obtaining and maintaining necessary certifications and approvals from aviation authorities.
• Market Acceptance and Adoption [high — market]: The success of EHang's autonomous aerial vehicles (AAVs) relies on widespread market acceptance and adoption by customers and the public.
• Manufacturing and Production Capabilities [medium — operational]: Scaling up manufacturing to meet potential demand and ensuring product quality and safety are critical operational challenges.
• Funding and Liquidity [medium — financial]: The company may require additional funding to support its growth, research and development, and operational expansion.

Key Dates

• 2024-04-15: Filing of 20-F — Annual report submission for FY 2023
• 2023-12-31: Fiscal Year End — End of the reporting period

Key Financial Figures

• $0.0001 — wo Class A ordinary shares, par value US$0.0001 per share EH The Nasdaq Global Mark
• $ — s" means unmanned aerial vehicles; "US$," "U.S. dollars," "$," and "dollars" me
• $1 — t were made at a rate of RMB7.0999 to US$1.00, the noon buying rate in effect as o

Filing Documents

• d709315d20f.htm (20-F) — 4406KB
• d709315dex415.htm (EX-4.15) — 58KB
• d709315dex416.htm (EX-4.16) — 57KB
• d709315dex417.htm (EX-4.17) — 59KB
• d709315dex81.htm (EX-8.1) — 3KB
• d709315dex121.htm (EX-12.1) — 7KB
• d709315dex122.htm (EX-12.2) — 7KB
• d709315dex131.htm (EX-13.1) — 3KB
• d709315dex132.htm (EX-13.2) — 4KB
• d709315dex151.htm (EX-15.1) — 2KB
• d709315dex152.htm (EX-15.2) — 4KB
• d709315dex153.htm (EX-15.3) — 4KB
• d709315dex971.htm (EX-97.1) — 30KB
• g709315g00t01.jpg (GRAPHIC) — 14KB
• g709315g0409012037379.jpg (GRAPHIC) — 3KB
• g709315snap1.jpg (GRAPHIC) — 114KB
• 0001193125-24-095477.txt (&nbsp;) — 17573KB
• eh-20231231.xsd (EX-101.SCH) — 111KB
• eh-20231231_cal.xml (EX-101.CAL) — 95KB
• eh-20231231_def.xml (EX-101.DEF) — 576KB
• eh-20231231_lab.xml (EX-101.LAB) — 802KB
• eh-20231231_pre.xml (EX-101.PRE) — 735KB
• d709315d20f_htm.xml (XML) — 3035KB

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 159 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 159 PART II 161 Item 13. Defaults, Dividend Arrearages and Delinquencies 161 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 161 Item 15.

Controls and Procedures

Controls and Procedures 161 Item 16A. Audit Committee Financial Expert 163 Item 16B. Code of Ethics 163 Item 16C. Principal Accountant Fees and Services 163 Item 16D. Exemptions from the Listing Standards for Audit Committees 163 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 163 Item 16F. Change in Registrant's Certifying Accountant 164 Item 16G. Corporate Governance 164 Item 16H. Mine Safety Disclosure 165 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 165 Item 16J. Insider Trading Policies 165 Item 16K. Cybersecurity 165 PART III 167 Item 17.

Financial Statements

Financial Statements 167 Item 18.

Financial Statements

Financial Statements 167 Item 19. Exhibits 167

SIGNATURES

SIGNATURES 170 i Table of Contents INTRODUCTION Conventions Used in this Annual Report In this annual report, unless otherwise indicated or the context otherwise requires: "ADSs" means American depositary shares, each of which represents two of our Class A ordinary shares; "CAAC" means the Civil Aviation Administration of China; "China" and the "PRC" means the People's Republic of China, and only in the context of describing the PRC laws, rules, regulations, regulatory authorities, and any PRC entities or citizens under such rules, laws and regulations and other legal or tax matters in this annual report, excludes Hong Kong, Macau and Taiwan; "Class A ordinary shares" means class A ordinary shares, par value US$0.0001 per share, of EHang Holdings; "Class B ordinary shares" means class B ordinary shares, par value US$0.0001 per share, of EHang Holdings; "Ehfly Technology" means Ehfly Technology Limited, a company incorporated in Hong Kong and a direct, wholly-owned subsidiary of EHang Holdings; "EHang," "we," "us," "our company" and "our" means collectively EHang Holdings and its subsidiaries and only in the context of describing our consolidated financial information only, also includes the VIE and the VIE's subsidiaries; "EHang Holdings" means EHang Holdings Limited, an exempted company incorporated in the Cayman Islands; "eVTOL" means electric vertical takeoff and landing; "PCAOB" means Public Company Accounting Oversight Board of the United States. "RMB" and "Renminbi" means the legal currency of China; "shares" and "ordinary shares" means the Class A ordinary shares and/or the Class B ordinary shares; "UAM" means urban air mobility; "UAVs" means unmanned aerial vehicles; "US$," "U.S. dollars," "$," and "dollars" means the legal currency of the United States; "VIE" means Guangzhou EHang Intelligent Technology Co., Ltd., a company incorporated in the PRC that has entered into a series of contractual arrangement with our

View Full Filing

View this 20-F filing on SEC EDGAR