EHang Holdings Limited has been selected, together with its partners Kwoon Chung Smart Mobility Co.,Ltd and Hong Kong Cyberport Management Company Limited, as one of the first batch of trial projects under Hong Kong's Low-Altitude Economy Regulatory Sandbox X initiative for unconventional aircraft applications. The parties will leverage their respective resource advantages to steadily advance compliant demonstration flights, scenario validation, and a series of coordinated efforts, contributing to the high-quality growth of Hong Kong's low-altitude economy.

As Hong Kong actively rolls out multiple rounds of regulatory sandbox trial projects, the low-altitude economy is quickly becoming a key driver for local innovation. As a global leader in advanced air mobility (AAM), EHang has established a solid foundation of collaboration with its Hong Kong partners, continuously advancing the application of pilotless electric vertical take-off and landing (eVTOL) aircraft in the region.

EHang is the world's first company to obtain the type certificate, production certificate, and standard airworthiness certificate for a pilotless human-carrying eVTOL in China. As of May 2026, its flagship product, the EH216-S pilotless human-carrying eVTOL, has completed more than 90,000 safe flights. The aircraft is currently operating routine commercial trial services in Guangzhou and Hefei, generating replicable and scalable practical experience for the industry's transition to commercial operations.

Key Operational Milestones

Hong Kong serves as a key gateway connecting the Greater Bay Area and global markets, positioning it as an ideal testing ground for low-altitude economy innovation and development. EHang plans to deepen its collaboration with its Hong Kong partners to explore advanced air mobility applications, support Hong Kong's low-altitude economy innovation, and contribute to the development of the low-altitude economy ecosystem across the Greater Bay Area.

EHang Holdings Limited affirmed its annual revenue guidance of RMB600 million ($85.798 million) for the fiscal year 2026, maintaining its outlook against an analyst estimate of $77.100 million. The company reported unaudited financial results for the first quarter ended March 31, 2026, with quarterly sales of $3.720 million, a 3.45% increase from $3.596 million in the same period last year. EHang's Board of Directors approved a new share repurchase program valued at up to $30 million to demonstrate confidence in long-term value.

Financial Performance

Total revenues for the first quarter of 2026 were RMB25.7 million ($3.7 million), a decrease from RMB26.1 million in the first quarter of 2025 and RMB177.6 million in the fourth quarter of 2025. The decline was primarily driven by decreased sales volume of eVTOL aircraft, partially offset by growth from non-human-carrying business. Gross margin was 62.5%, a slight increase from 62.4% in the prior year's quarter.

EHang reported a net loss of RMB126.4 million ($18.3 million) for the quarter, compared with a net loss of RMB78.4 million in the first quarter of 2025. The company recorded an operating loss of RMB127.9 million ($18.5 million). Cash and cash equivalents, restricted short-term deposits, short-term investments, and treasury investment balances totaled RMB1.03 billion ($148.9 million) as of March 31, 2026.

Operational Highlights

Sales and deliveries of electric vertical take-off and landing (eVTOL) aircraft were four units of the EH216 series, compared with 11 units in the first quarter of 2025. The aerial media business gained traction, delivering 22 aerial media shows and 1,000 units of GD 4.0 formation drones. Revenue from aerial media solutions represented approximately 40% of total revenue for the quarter.

EHang and its operating partners continued working with the Civil Aviation Administration of China (CAAC) to meet operational and safety requirements for public ticketed flight services. The two Air Operator Certificate holders, EHang General Aviation and Heyi Aviation, completed more than 3,000 safe flight missions with zero accidents since obtaining their OCs in March 2025.

Strategic Developments

The company advanced the certification process for the VT35 long-range lift-and-cruise eVTOL aircraft, which is currently in the Certification Basis definition phase. In Thailand, EHang identified five vertiport locations and completed the survey of the first operational route under the AAM Sandbox framework. In Mexico, the EH216-S successfully completed the first human-carrying pilotless eVTOL flights in Latin America during the FAMEX Tulum Air Show 2026.

Business Outlook

For the fiscal year 2026, EHang maintains its annual revenue guidance of around RMB600 million. The company expects to fund the share repurchase program mainly from its existing cash balance.