Cover Page
Cover Page - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Document Information [Line Items] | ||
Document Type | 20-F | |
Document Registration Statement | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Shell Company Report | false | |
Amendment Flag | false | |
Entity Central Index Key | 0001759783 | |
Entity File Number | 001-39151 | |
Document Period End Date | Dec. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | FY | |
Current Fiscal Year End Date | --12-31 | |
Entity Registrant Name | EHang Holdings Limited | |
Entity Incorporation, State or Country Code | E9 | |
Entity Address, Address Line One | 11/F Building One, EHang Technology Park | |
Entity Address, Address Line Two | No. 29 Bishan Blvd | |
Entity Address, Address Line Three | Huangpu District | |
Entity Address, City or Town | Guangzhou | |
Entity Address, Postal Zip Code | 510700 | |
Entity Address, Country | CN | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity Filer Category | Accelerated Filer | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Interactive Data Current | Yes | |
ICFR Auditor Attestation Flag | true | |
Auditor Name | PricewaterhouseCoopers Zhong Tian LLP | Ernst & Young Hua Ming LLP |
Auditor Firm ID | 1424 | 1408 |
Auditor Location | Guangzhou, the People’s Republic of China | Shanghai, the People’s Republic of China |
Document Accounting Standard | U.S. GAAP | |
Business Contact [Member] | ||
Document Information [Line Items] | ||
Contact Personnel Name | Richard Jian Liu | |
Entity Address, Address Line One | 11/F Building One, EHang Technology Park | |
Entity Address, Address Line Two | No. 29 Bishan Blvd | |
Entity Address, Address Line Three | Huangpu District | |
Entity Address, City or Town | Guangzhou | |
Entity Address, Postal Zip Code | 510700 | |
Entity Address, Country | CN | |
City Area Code | +86 20 | |
Local Phone Number | 2902 8899 | |
American Depositary Shares [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | American depositary shares, each representing two Class A ordinary shares, par value US$0.0001 per share | |
Trading Symbol | EH | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 116,455,947 | |
Class A ordinary shares [member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Class A ordinary shares, par value US$0.0001 per share | |
No Trading Symbol Flag | true | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 77,429,387 | |
Class B ordinary shares [member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 39,026,560 |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Current assets: | |||
Cash and cash equivalents | ¥ 249,310 | $ 36,147 | ¥ 246,863 |
Restricted cash | 0 | 0 | 160 |
Short-term investments | 0 | 0 | 65,108 |
Accounts receivable, net of allowance of RMB69,417 and RMB115,380 (US$16,728) as of December 31, 2021 and 2022, respectively | 20,298 | 2,943 | 56,189 |
Inventories | 72,364 | 10,492 | 78,075 |
Prepayments and other current assets | 45,183 | 6,550 | 29,395 |
Amount due from a related party | 0 | 0 | 1,360 |
Total current assets | 387,155 | 56,132 | 477,150 |
Non-current assets | |||
Property and equipment, net | 47,060 | 6,823 | 33,821 |
Right-of-use assets, net | 73,482 | 10,654 | 0 |
Intangible assets, net | 1,959 | 284 | 745 |
Long-term loans receivable | 9,980 | 1,447 | 15,208 |
Long-term investments | 9,839 | 1,427 | 6,143 |
Other non-current assets | 1,392 | 202 | 2,367 |
Total non-current assets | 143,712 | 20,837 | 58,284 |
Total assets | 530,867 | 76,969 | 535,434 |
Current liabilities: | |||
Short-term bank loans | 49,794 | 7,219 | 10,000 |
Short-term debt | 57,838 | 8,386 | |
Accounts payable | 35,456 | 5,141 | 45,560 |
Contract liabilities | 19,321 | 2,801 | 14,831 |
Current portion of long-term bank loans | 13,154 | 1,907 | 3,000 |
Accrued expenses and other liabilities | 97,763 | 14,175 | 61,851 |
Current portion of lease liabilities | 5,520 | 800 | |
Deferred income | 1,495 | 217 | 733 |
Deferred government subsidies | 1,993 | 289 | 468 |
Income taxes payable | 7 | 1 | 4 |
Total current liabilities | 282,341 | 40,936 | 136,447 |
Non-current liabilities: | |||
Long-term bank loans | 3,846 | 558 | 17,000 |
Mandatorily redeemable non-controlling interests | 40,000 | 5,799 | 40,000 |
Deferred tax liabilities | 292 | 42 | 292 |
Unrecognized tax benefit | 5,480 | 795 | 5,480 |
Lease liabilities | 69,913 | 10,136 | |
Deferred income | 2,928 | 425 | 2,169 |
Other non-current liabilities | 1,389 | 201 | |
Total non-current liabilities | 123,848 | 17,956 | 64,941 |
Total liabilities | 406,189 | 58,892 | 201,388 |
Commitments and Contingencies | |||
Shareholders' equity: | |||
Additional paid-in capital | 1,558,356 | 225,940 | 1,459,374 |
Statutory reserves | 1,191 | 173 | 1,191 |
Accumulated deficit | (1,450,374) | (210,284) | (1,122,153) |
Accumulated other comprehensive (loss) income | 15,010 | 2,176 | (5,886) |
Total EHang Holdings Limited shareholders' equity | 124,258 | 18,016 | 332,601 |
Non-controlling interests | 420 | 61 | 1,445 |
Total shareholders' equity | 124,678 | 18,077 | 334,046 |
Total liabilities and shareholders' equity | 530,867 | 76,969 | 535,434 |
Class A Ordinary Shares [Member] | |||
Shareholders' equity: | |||
Common stock | 51 | 8 | 50 |
Class B Ordinary Shares [Member] | |||
Shareholders' equity: | |||
Common stock | ¥ 24 | $ 3 | ¥ 25 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 CNY (¥) shares | Dec. 31, 2021 USD ($) $ / shares shares |
Accounts receivable, allowance | ¥ 115,380 | $ 16,728 | ¥ 69,417 | $ 10,064 |
Current liabilities of the VIE without recourse to the company | 282,341 | 40,936 | 136,447 | |
Non-current liabilities of the VIE without recourse to the company | 123,848 | 17,956 | 64,941 | |
Nonrecourse [Member] | ||||
Current liabilities of the VIE without recourse to the company | 29,993 | 4,348 | 23,755 | |
Non-current liabilities of the VIE without recourse to the company | ¥ 5,234 | $ 759 | ¥ 9,588 | |
Common Class A [Member] | ||||
Ordinary shares, par value | $ / shares | $ 0.0001 | $ 0.0001 | ||
Ordinary shares, shares authorized | 1,904,577,337 | 1,904,577,337 | 1,904,577,337 | 1,904,577,337 |
Ordinary shares, shares issued | 78,300,387 | 78,300,387 | 74,309,007 | 74,309,007 |
Ordinary shares, shares outstanding | 77,309,937 | 77,309,937 | 73,723,637 | 73,723,637 |
Common Class B [Member] | ||||
Ordinary shares, par value | $ / shares | $ 0.0001 | $ 0.0001 | ||
Ordinary shares, shares authorized | 45,422,663 | 45,422,663 | 45,422,663 | 45,422,663 |
Ordinary shares, shares issued | 39,026,560 | 39,026,560 | 40,136,560 | 40,136,560 |
Ordinary shares, shares outstanding | 39,026,560 | 39,026,560 | 40,136,560 | 40,136,560 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) ¥ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 CNY (¥) ¥ / shares shares | Dec. 31, 2020 CNY (¥) ¥ / shares shares | |
Revenues: | ||||
Revenues | ¥ 44,317 | $ 6,425 | ¥ 56,807 | ¥ 180,093 |
Costs of revenues | (15,098) | (2,189) | (20,777) | (73,914) |
Gross profit | 29,219 | 4,236 | 36,030 | 106,179 |
Operating expenses: | ||||
Sales and marketing expenses | (53,116) | (7,701) | (43,229) | (37,186) |
General and administrative expenses | (151,065) | (21,902) | (187,388) | (61,613) |
Research and development expenses | (135,082) | (19,585) | (137,148) | (105,252) |
Total operating expenses | (339,263) | (49,188) | (367,765) | (204,051) |
Other operating income | 6,094 | 884 | 11,199 | 6,576 |
Operating loss | (303,950) | (44,068) | (320,536) | (91,296) |
Other (expense) income | ||||
Interest and investment income | 4,669 | 677 | 5,143 | 3,795 |
Interest expenses | (3,819) | (554) | (1,803) | (2,337) |
Foreign exchange loss | (1,488) | (216) | (827) | (333) |
Other income | 1,944 | 282 | 6,086 | 1,227 |
Other expenses | (26,804) | (3,886) | (1,549) | (3,127) |
Total other (expense) income | (25,498) | (3,697) | 7,050 | (775) |
Loss before income tax and income (loss) from equity method investment | (329,448) | (47,765) | (313,486) | (92,071) |
Income tax expenses | (79) | (11) | (134) | (206) |
Loss before income (loss) from equity method investment | (329,527) | (47,776) | (313,620) | (92,277) |
Income (loss) from equity method investment | 196 | 28 | (276) | 236 |
Net loss | (329,331) | (47,748) | (313,896) | (92,041) |
Net loss (income) attributable to non-controlling interests | 1,110 | 161 | (63) | 4,422 |
Net loss attributable to EHang Holdings Limited's ordinary shareholders | ¥ (328,221) | $ (47,587) | ¥ (313,959) | ¥ (87,619) |
Net loss per ordinary share: | ||||
Net loss per ordinary share, Basic | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Net loss per ordinary share, Diluted | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Earnings Per Share, Basic, Other Disclosure [Abstract] | ||||
Shares used in net loss per ordinary share computation , Basic | 114,695 | 114,695 | 112,985 | 109,563 |
Shares used in net loss per ordinary share computation, Diluted | 114,695 | 114,695 | 112,985 | 109,563 |
Net loss per ADS (2 ordinary shares equal to 1 ADS): | ||||
Net loss per ADS, Basic | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Net loss per ADS, Diluted | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Other comprehensive (loss) income | ||||
Foreign currency translation adjustments, net of nil tax | ¥ 20,896 | $ 3,030 | ¥ (6,107) | ¥ (9,974) |
Unrealized (realized) gains on available-for-sale investments, net of nil tax | 0 | 0 | (1,729) | 1,729 |
Total other comprehensive (loss) income, net of tax | 20,896 | 3,030 | (7,836) | (8,245) |
Comprehensive loss | (308,435) | (44,718) | (321,732) | (100,286) |
Comprehensive (loss) income attributable to non-controlling interests | 1,110 | 161 | (63) | 4,422 |
Comprehensive loss attributable to EHang Holdings Limited | ¥ (307,325) | $ (44,557) | ¥ (321,795) | ¥ (95,864) |
ADR [Member] | ||||
Net loss per ordinary share: | ||||
Net loss per ordinary share, Basic | (per share) | ¥ (5.72) | $ (0.82) | ¥ (5.56) | ¥ (1.6) |
Net loss per ordinary share, Diluted | (per share) | (5.72) | (0.82) | (5.56) | (1.6) |
Net loss per ADS (2 ordinary shares equal to 1 ADS): | ||||
Net loss per ADS, Basic | (per share) | (5.72) | (0.82) | (5.56) | (1.6) |
Net loss per ADS, Diluted | (per share) | ¥ (5.72) | $ (0.82) | ¥ (5.56) | ¥ (1.6) |
Products | ||||
Revenues: | ||||
Revenues | ¥ 40,775 | $ 5,912 | ¥ 54,923 | ¥ 176,060 |
Costs of revenues | (15,038) | (2,180) | (19,991) | (72,082) |
Services | ||||
Revenues: | ||||
Revenues | 3,542 | 513 | 1,884 | 4,033 |
Costs of revenues | ¥ (60) | $ (9) | ¥ (786) | ¥ (1,832) |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) | Over-Allotment Option [Member] CNY (¥) | Common Stock [Member] Common Class A [Member] CNY (¥) shares | Common Stock [Member] Common Class A [Member] USD ($) shares | Common Stock [Member] Common Class B [Member] CNY (¥) shares | Common Stock [Member] Common Class B [Member] USD ($) shares | Common Stock [Member] Over-Allotment Option [Member] Common Class A [Member] shares | Additional Paid-in Capital [Member] CNY (¥) | Additional Paid-in Capital [Member] USD ($) | Additional Paid-in Capital [Member] Over-Allotment Option [Member] CNY (¥) | Accumulated Other Comprehensive Income [Member] CNY (¥) | Accumulated Other Comprehensive Income [Member] USD ($) | Statutory Reserves [Member] CNY (¥) | Statutory Reserves [Member] USD ($) | Accumulated Deficit [Member] CNY (¥) | Accumulated Deficit [Member] USD ($) | Parent [Member] CNY (¥) | Parent [Member] USD ($) | Parent [Member] Over-Allotment Option [Member] CNY (¥) | Non-controlling Interest [Member] CNY (¥) | Non-controlling Interest [Member] USD ($) |
Balance at Dec. 31, 2019 | ¥ 315,355 | ¥ 44 | ¥ 28 | ¥ 1,020,691 | ¥ 10,195 | ¥ 1,035 | ¥ (720,419) | ¥ 311,574 | ¥ 3,781 | |||||||||||||
Balance at Dec. 31, 2019 | shares | 64,034,573 | 64,034,573 | 45,422,663 | 45,422,663 | ||||||||||||||||||
Net loss | (92,041) | (87,619) | (87,619) | (4,422) | ||||||||||||||||||
Issuance of a subsidiary's equity to a non-controlling interest holder | 2,023 | 2,023 | ||||||||||||||||||||
Issuance of Class A ordinary shares pursuant to underwriters' exercise of over-allotment option | ¥ 5,751 | ¥ 5,751 | ¥ 5,751 | |||||||||||||||||||
Issuance of Class A ordinary shares pursuant to underwriters' exercise of over-allotment option | shares | 170,062 | |||||||||||||||||||||
Class B ordinary shares converted to Class A ordinary shares | shares | 430,108 | 430,108 | (430,108) | (430,108) | ||||||||||||||||||
Share-based compensation | 54,857 | 54,857 | 54,857 | |||||||||||||||||||
Other comprehensive loss | (8,245) | (8,245) | (8,245) | |||||||||||||||||||
Balance at Dec. 31, 2020 | 277,700 | ¥ 44 | ¥ 28 | 1,081,299 | 1,950 | 1,035 | (808,038) | 276,318 | 1,382 | |||||||||||||
Balance at Dec. 31, 2020 | shares | 64,634,743 | 64,634,743 | 44,992,555 | 44,992,555 | ||||||||||||||||||
Net loss | (313,896) | (313,959) | (313,959) | 63 | ||||||||||||||||||
Issuance of ordinary shares for the vested restricted share units | 2 | ¥ 2 | 2 | |||||||||||||||||||
Issuance of ordinary shares for the vested restricted share units | shares | 3,002,130 | 3,002,130 | ||||||||||||||||||||
Issuance of Class A ordinary shares in connection with initial public offering ("IPO") | 256,945 | ¥ 1 | 256,944 | 256,945 | ||||||||||||||||||
Issuance of Class A ordinary shares in connection with initial public offering ("IPO") | shares | 1,230,769 | 1,230,769 | ||||||||||||||||||||
Class B common shares converted to Class A common shares | ¥ 3 | ¥ (3) | ||||||||||||||||||||
Class B ordinary shares converted to Class A ordinary shares | shares | 4,855,995 | 4,855,995 | (4,855,995) | (4,855,995) | ||||||||||||||||||
Share-based compensation | 121,131 | 121,131 | 121,131 | |||||||||||||||||||
Other comprehensive loss | (7,836) | (7,836) | (7,836) | |||||||||||||||||||
Issuance of ordinary shares to the depository bank | shares | 2,500,000 | 2,500,000 | ||||||||||||||||||||
Settlement of vested restricted share units with shares held by the depositary bank, shares | shares | (1,914,630) | (1,914,630) | ||||||||||||||||||||
Appropriation of statutory reserve | 156 | (156) | ||||||||||||||||||||
Balance at Dec. 31, 2021 | 334,046 | ¥ 50 | ¥ 25 | 1,459,374 | (5,886) | 1,191 | (1,122,153) | 332,601 | 1,445 | |||||||||||||
Balance at Dec. 31, 2021 | shares | 74,309,007 | 74,309,007 | 40,136,560 | 40,136,560 | ||||||||||||||||||
Net loss | (329,331) | $ (47,748) | 0 | 0 | (328,221) | (328,221) | (1,110) | |||||||||||||||
Issuance of a subsidiary's equity to a non-controlling interest holder | 85 | 85 | ||||||||||||||||||||
Issuance of ordinary shares for the vested restricted share units | shares | 2,595,750 | 2,595,750 | ||||||||||||||||||||
Class B common shares converted to Class A common shares | ¥ 1 | ¥ (1) | ||||||||||||||||||||
Class B ordinary shares converted to Class A ordinary shares | shares | 1,110,000 | 1,110,000 | (1,110,000) | (1,110,000) | ||||||||||||||||||
Share-based compensation | 96,898 | 96,898 | 0 | 0 | 0 | 96,898 | ||||||||||||||||
Other comprehensive loss | 20,896 | 3,030 | 20,896 | 20,896 | ||||||||||||||||||
Issuance of ordinary shares to the depository bank | shares | 876,380 | 876,380 | ||||||||||||||||||||
Settlement of vested restricted share units with shares held by the depositary bank, shares | shares | (590,750) | (590,750) | ||||||||||||||||||||
Clawback of shares under share incentive plan | (383) | (383) | (383) | |||||||||||||||||||
Arrangement for employee stock withholding tax | (11,230) | (11,230) | (11,230) | |||||||||||||||||||
Warrants arising from private placement | 13,697 | 13,697 | 13,697 | |||||||||||||||||||
Balance at Dec. 31, 2022 | ¥ 124,678 | $ 18,077 | ¥ 51 | $ 8 | ¥ 24 | $ 3 | ¥ 1,558,356 | $ 225,940 | ¥ 15,010 | $ 2,176 | ¥ 1,191 | $ 173 | ¥ (1,450,374) | $ (210,284) | ¥ 124,258 | $ 18,016 | ¥ 420 | $ 61 | ||||
Balance at Dec. 31, 2022 | shares | 78,300,387 | 78,300,387 | 39,026,560 | 39,026,560 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net loss | ¥ (329,331) | $ (47,748) | ¥ (313,896) | ¥ (92,041) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation of property and equipment | 8,478 | 1,229 | 7,427 | 5,785 |
Amortization of intangible assets | 439 | 64 | 346 | 407 |
Amortization of right-of-use assets | 11,976 | 1,736 | ||
Deferred income tax expense | 184 | |||
Share-based compensation | 96,898 | 14,049 | 121,131 | 54,857 |
Clawback of shares under share incentive plan | (383) | (56) | ||
Loss on disposal of intangible assets | 72 | |||
Loss (gains) on disposal of property and equipment | (103) | (15) | 820 | 456 |
Gain on disposal of long-term investment | (288) | |||
Amortization of debt discounts | 1,674 | 243 | ||
Interest and investment income | (3,131) | (454) | (1,367) | |
Loss (income) from an equity method investment | (196) | (28) | 276 | 52 |
Impairment of long-lived assets | 1,627 | |||
Allowance for doubtful accounts | 47,784 | 6,928 | 56,517 | 13,313 |
Write-downs of inventories | 956 | 139 | 2,640 | |
Foreign exchange loss | 1,488 | 216 | 827 | |
Changes in operating assets and liabilities: | ||||
Accounts receivable | (10,072) | (1,460) | 39,336 | (134,678) |
Unbilled revenue | 2,800 | 4,281 | ||
Cost and estimated earnings in excess of billings | 13,495 | |||
Inventories | (3,257) | (473) | (38,607) | (29,269) |
Prepayments and other current assets | (22,942) | (3,326) | (12,972) | (5,001) |
Amounts due from a related party | 1,360 | 197 | 1,279 | (2,639) |
Other non-current assets | (16,155) | |||
Accounts payable | (10,104) | (1,465) | (7,748) | 26,611 |
Contract liabilities | 4,490 | 651 | 7,051 | (2,426) |
Accrued expenses and other liabilities | 36,252 | 5,256 | 11,370 | 7,667 |
Lease liabilities | (8,783) | (1,273) | ||
Deferred income | 1,521 | 221 | (60) | 3,720 |
Deferred government subsidies | 1,525 | 221 | (430) | (80) |
Income taxes payable | 3 | 4 | (5) | |
Unrecognized tax benefits | (14) | |||
Net cash flow used in operating activities | (173,458) | (25,148) | (121,629) | (151,696) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Deconsolidation of a subsidiary | (54) | |||
Purchase of short-term investments | (76,807) | (11,136) | (157,761) | (115,364) |
Proceeds from maturities of short-term investments | 151,388 | 21,949 | 140,756 | 71,996 |
Purchase of property and equipment | (12,166) | (1,764) | (15,645) | (8,742) |
Proceeds from disposal of property and equipment | 188 | 27 | 192 | |
Acquisition of intangible assets | (1,653) | (240) | (51) | (337) |
Cash paid for long-term investment | (4,550) | (660) | (700) | |
Loans to third parties | (53,900) | |||
Repayment of loan to a third party | 40,000 | |||
Net cash flow (used in) provided by investing activities | 56,400 | 8,176 | (33,401) | (66,209) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Proceeds from short-term bank loans | 49,794 | 7,219 | 10,000 | 15,000 |
Repayment of short-term bank loans | (10,000) | (1,450) | (15,000) | (5,000) |
Proceeds from long-term bank loans | 20,000 | |||
Repayment of a Long-term bank loan | (3,000) | (435) | ||
Repayment of loans from third parties | (5,000) | (2,000) | ||
Proceeds from the private placement | 69,861 | 10,129 | ||
Proceeds from mandatorily redeemable non-controlling interests of a subsidiary | 40,000 | |||
Proceeds from issuance of a subsidiary's equity to a non-controlling interest holder | 85 | 12 | 2,023 | |
Shares issued upon vesting of restricted share units | 2 | |||
Proceeds from issuance of Class A ordinary shares, net of issuance costs | 256,945 | 7,313 | ||
Payment of underwriters' exercise of over-allotment option's issuance costs | (750) | |||
Payment of issuance costs for IPO | (13,906) | |||
Net cash provided by financing activities | 106,740 | 15,475 | 266,947 | 42,680 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 12,605 | 1,828 | (5,067) | (6,264) |
Net (decrease) increase in cash, cash equivalents and restricted cash | 2,287 | 332 | 106,850 | (181,489) |
Cash, cash equivalents and restricted cash at the beginning of the year | 247,023 | 35,815 | 140,173 | 321,662 |
Cash, cash equivalents and restricted cash at the end of the year | 249,310 | 36,147 | 247,023 | 140,173 |
Supplemental disclosures of cash flow information: | ||||
Interest paid | 1,502 | 218 | 1,178 | 342 |
Income taxes paid | 79 | 11 | 342 | 40 |
Non-cash investing and financing activities: | ||||
Long-term loan from a third party settled by accounts receivable | 25,000 | |||
Purchase of property and equipment included in Accrued expenses and other liabilities | 3,327 | 482 | 1,228 | 4,967 |
Unpaid issuance costs for issuance of Class A ordinary shares pursuant to underwriters' exercise of overallotment option included in Accrued expenses and other liabilities | 812 | |||
Reconciliation of cash, cash equivalents and restricted cash: | ||||
Cash and cash equivalents at the end of year | 249,310 | 36,147 | 246,863 | 137,840 |
Restricted cash | 160 | 2,333 | ||
Cash, cash equivalents and restricted cash at the end of the year | ¥ 249,310 | $ 36,147 | ¥ 247,023 | 140,173 |
Series C Convertible Redeemable Preferred Stock [Member] | ||||
Non-cash investing and financing activities: | ||||
Issuance costs | 48 | |||
IPO [Member] | ||||
Non-cash investing and financing activities: | ||||
Issuance costs | ¥ 821 |
Organization and Nature of Oper
Organization and Nature of Operations | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Nature of Operations | 1. Organization and Nature of Operations (a) Principal activities EHang Holdings Limited (the ‘‘Company’’) was incorporated in the Cayman Islands on December 23, 2014 under the Cayman Islands Companies Law as an exempted company with limited liability. On December 12, 2019, the Company completed its initial public offering (the “IPO”) and got listed on Nasdaq Global Market. The Company through its consolidated subsidiaries, variable interest entity (the ‘‘VIE’’) and the subsidiaries of the VIE (collectively, the ‘‘Group’’) are principally engaged in the manufacturing, sales and operations of autonomous aerial vehicles. The Group established its manufacturing facility (b) Principal subsidiaries and VIEs As of December 31, 2022, the Company’s major subsidiaries, VIE and the subsidiaries of the VIE (“VIEs”, refer to VIE and its subsidiaries as a whole, where appropriate) are as follows: Entities Subsidiaries: Date of establishment Place of establishment Percentage of direct or indirect ownership Principal activities Direct Indirect Ehfly Technology Limited (“Ehfly”) December 5, 2014 Hong Kong 100 % — Product sales EHang Intelligent Equipment (Guangzhou) Co., Ltd. (“EHang Intelligent” or the “WFOE”) October 15, 2015 PRC 100 % — Research and Yunfu EHang Intelligent Technology Limited (“EHang Yunfu”) June 15, 2020 PRC 68.5 % — Research and Variable Interest Entity Guangzhou EHang Intelligent Technology Co., Ltd. (“EHang GZ” or the “VIE”) August 8, 2014 PRC — 100 % Research and Entities VIE’s Subsidiaries Date of incorporation establishment Place of incorporation establishment Percentage of direct or indirect ownership Principal activities Direct Indirect Guangdong EHang General Aviation Co., Ltd. (“EHang Aviation”) March 11, 2021 PRC — 100 %(a) Operational flight services (a) EHang GZ and EHang Intelligent hold 51% and 49% equity interests in EHang Aviation, respectively. Summary of the VIE contractual arrangements (the “VIE Contractual Agreements”) The Group conducts all of its business in China through its subsidiaries and the VIEs in the PRC. The Company’s subsidiary EHang Intelligent, or the WFOE, has entered into contractual arrangements with the VIE and its shareholder described below, which are referred to as the VIE Contractual Agreements. As of December 31, 2019, the equity interests of the VIE were legally held by Mr. Huazhi Hu and Mr. Derrick Yifang Xiong (the “Former Shareholders”). For the year ended December 31, 2020, the Former Shareholders transferred their equity interests to Mr. Shuai Feng and Mr. Weixian Xia, both are the Group’s employees (the “Nominee Shareholders”). The Nominee Shareholders then signed the Contractual Agreements with terms essentially the same as the ones signed before. Through the Contractual Agreements, the Nominee Shareholders of the VIE effectively assigned all of their voting rights underlying their equity interests in the VIE to the WFOE, which is a wholly-owned entity by the Company, who further assigned the voting rights underlying their equity interests in the VIE to the Company. Therefore, the Company has the power to direct the activities of the VIE that most significantly impact their economic performance. The Company also has the right to receive economic benefits via the WFOE, and the obligation to absorb losses of the VIE, that potentially could be significant to the VIE. Through the VIE Contractual Agreements, the Company is considered the primary beneficiary of the VIEs for accounting purposes only and thus consolidates each of these entities under ASC810-10, Consolidation: Overall The following is a summary of the Contractual Agreements among the Former Shareholders, the VIE and the WFOE, and then amended in 2020 to the Nominee Shareholders: Loan Agreement The WFOE has granted interest-free loans with an aggregate amount of RMB60,000 to the Nominee Shareholders of the VIE for the sole purpose of providing funds necessary for the capital injection of the VIE. The loans are repayable by such Nominee Shareholder through a transfer of their equity interests in the VIE to the WFOE, in proportion to the amount of the loans to be repaid. Power of Attorney and Shareholders Voting Proxy Pursuant to the Power of Attorney and Shareholders Voting Proxy entered into between the Nominee Shareholders, the VIE and the WFOE, the Nominee Shareholders authorized the WFOE to act on behalf of the Nominee Shareholders as exclusive agent and attorney with respect to all matters concerning the VIE’s equity interests, including but not limited to: (1) attend shareholders’ meetings of the VIE; (2) exercise all the shareholders’ rights, including voting rights; and (3) designate and appoint the senior management members of the VIE. The proxy is irrevocable and continuously valid from the date of execution. The WFOE is entitled to re-authorize Exclusive Option Agreements Pursuant to the Exclusive Option Agreements entered amongst the Nominee Shareholders, the VIE and WFOE, the Nominee Shareholders granted to WFOE or their designees an irrevocable and exclusive right to purchase all or part of the equity interests held by the Nominee Shareholders in the VIE at the WFOE’s sole discretion, to the extent permitted under the PRC laws, at an amount equal to the minimum consideration permitted under the applicable PRC law and administrative regulations. Any proceeds received by the Nominee Shareholders from the exercise of the options shall be remitted to the WFOE or its designated party, to the extent permitted under PRC laws. In addition, the VIE and the Nominee Shareholders have agreed that without prior written consent of the WFOE, they will not create any pledge or encumbrance on their equity interests in the VIE, or transfer or otherwise dispose of their equity interests in the VIE. The term of the agreement remains effective as long as each Nominee Shareholder remains a shareholder of the VIE. The WFOE may terminate the agreement at its sole discretion, whereas under no circumstances may the VIE or the Nominee Shareholders terminate the agreement. Exclusive Consulting and Service Agreement Pursuant to the Exclusive Consulting and Service Agreement between the WFOE and the VIE, the WFOE has the exclusive right to provide services to the VIE related to the VIE’s and the VIE’s subsidiaries’ business, including but not limited to the development, manufacturing and sales of intelligent aerial vehicles. In return, the VIE agrees to pay a service fee equal to 100% of the consolidated net profits of the VIE after the VIE turns cumulative profitable and after certain expenses. The WFOE has sole discretion in determining the service fee charged to the VIE under this agreement. Without the WFOE’s prior written consent, the VIE shall not, directly and indirectly, obtain the same or similar services as provided under this agreement from any third party. The WFOE will have the exclusive ownership of all intellectual property rights developed by performance of this agreement. The Exclusive Consulting and Service Agreement is valid for 10 years and renewable at the WFOE’s option. This agreement can be terminated by the WFOE with 30 days’ notice at any time but cannot be terminated by the VIE unless the WFOE is found to be in gross negligence. Share Pledge Agreements Pursuant to the Share Pledge Agreements entered amongst the WFOE and the Nominee Shareholders, the Nominee Shareholders pledged all of their equity interests in the VIE to the WFOE in favor of the WFOE to secure the VIE and their obligations under the various contractual agreements, including the Exclusive Consulting and Service Agreements and Exclusive Option Agreements described above. The WFOE shall have the right to collect dividends generated by the pledged equity interests during the term of the pledge. If the Nominee Shareholders breach their respective contractual obligations under the Share Pledge Agreements, the WFOE, as pledgee, will be entitled to rights, including the right to dispose of the pledged equity interests entirely or partially. The Nominee Shareholders of the VIE agree not to create any encumbrance on or otherwise transfer or dispose of their respective equity interests in the VIE, without the prior consent of the WFOE. The Share Pledge Agreements will remain effective until all the contractual obligations have been satisfied in full under all the agreements mentioned above. In March 2021, the Company has completed the registration of the share pledge with the relevant office of Administration for the Industry and Commerce in accordance with the PRC Property Rights Law. Commitment Letter Pursuant to the Commitment Letter, the WFOE irrevocably and unconditionally commits to execute its rights and obligations under the Power of Attorney and Shareholders Voting Proxy under the instruction of the Company. In addition, the Company is obligated and undertakes to provide unlimited financial support to the VIE, to the extent permissible under applicable PRC laws and regulations. As of December 31, 2020, a judicial freeze was placed on the equity interests of the VIE in connection with an arbitration filed by a third party against Mr. Huazhi Hu, one of the Former Shareholders of the VIE. The arbitration arose from a financial dispute between the third party and Mr. Huazhi Hu, and was unrelated to the Group. The third party did not have any claim against the VIE. The VIE was named as a party in the arbitration only because the third party regarded equity interests of the VIE as potential assets of Mr. Huazhi Hu. The third party and Mr. Huazhi Hu reached a settlement and as a result, in March 2021, the third party filed a petition with the court and the judicial freeze on the VIE’s equity interests has been released since then. Based on the opinion of the Company’s PRC legal counsel, (i) the ownership structure of the WFOE and the VIEs are in compliance with applicable PRC laws and regulations, (ii) such Contractual Agreements constitute valid, legal and binding obligations enforceable against each party of such agreements in accordance with the terms of each agreement, and will not result in any violation of PRC laws or regulations currently in effect. However, uncertainties in the PRC legal system could cause the relevant regulatory authorities to find the current Contractual Agreements and businesses to be in violation of any existing or future PRC laws or regulations. If the Company, the WFOE or any of their current or future VIE are found in violation of any existing or future laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities would have broad discretion in dealing with such violations, which may include, but not limited to, revocation of business and operating licenses, being required to discontinue or restrict its business operations, restriction of the Group’s right to collect revenues, being required to restructure its operations, imposition of additional conditions or requirements with which the Group may not be able to comply, or other regulatory or enforcement actions against the Group that could be harmful to its business. The imposition of any of these or other penalties may result in a material and adverse effect on the Group’s ability to conduct its business. In addition, if the imposition of any of these penalties causes the Company to lose the rights to direct the activities of the VIE or the right to receive their economic benefits, the Company would no longer be able to consolidate the VIE. The following financial statement balances and amounts of the Group’s VIEs were included in the accompanying consolidated financial statements: As of December 31, 2021 2022 RMB RMB US$ ASSETS Cash and cash equivalents 8,014 11,404 1,653 Accounts receivable, net 10,959 202 29 Inventories 839 837 121 Prepayments and other current assets 4,302 3,653 530 Amounts due from the Company and its subsidiaries 25,774 6,911 1,002 Property 2,032 1,273 185 Right-of-use assets, net — 799 116 Intangible assets, net 77 229 33 Other non-current 97 39 6 Total assets 52,094 25,347 3,675 LIABILITIES Accounts payable 3,025 3,100 449 Contract liabilities 1,677 2,027 294 Current portion of long-term bank loans 1,000 5,154 747 Accrued expenses and current liabilities 18,053 19,712 2,858 Amounts due to the Company and its subsidiaries 45,991 55,451 8,040 Long-term bank loans 9,000 3,846 558 Unrecognized tax benefit 588 588 85 Lease liabilities — 800 116 Total liabilities 79,334 90,678 13,147 For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Revenues 68,372 28,399 10,147 1,471 - Third-party revenue 35,280 230 6 1 - Inter-company revenue 33,092 28,169 10,141 1,470 Net profit (loss) 25,755 (8,534 ) (38,091 ) (5,523 ) Net cash (used in) provided by operating activities (5,118 ) (3,482 ) 4,627 671 Net cash used in investing activities (107 ) (878 ) (237 ) (34 ) Net cash provided by (used in) financing activities — 5,000 (1,000 ) (145 ) Net (decrease) increase in cash, cash equivalents and restricted cash (5,225 ) 640 3,390 492 Other than the amounts due to the Company and its subsidiaries (which are eliminated upon consolidation), all remaining liabilities of the VIE are without recourse to the primary beneficiary. The Company did not provide or intend to provide financial or other supports that are not previously contractually required to the VIEs during the years presented. The revenue-producing assets that are held by the VIEs comprise mainly of permits, domain names, IP rights, operating licenses, intangible assets and fixed assets. The VIEs contributed an aggregate of 19.6%, 0.4% and 0.01% of the Group’s consolidated revenues for the years ended December 31, 2020, 2021 and 2022, respectively, after elimination of inter-company transactions. The VIEs contributed RMB507, RMB36,371 and RMB47,683 (US$6,913) of the Group’s consolidated net loss for the years ended December 31, 2020, 2021 and 2022, respectively, after elimination of inter-company transactions. There are no consolidated VIE’s assets that are pledged or collateralized for the VIE’s obligations which can only be used to settle the VIE’s obligations, except for the registered capital and the statutory reserves. Relevant PRC laws and regulations restrict the VIE from transferring a portion of its net assets, equivalent to the balance of its statutory reserves and its share capital, to the Company in the form of loans and advances or cash dividends (Note 21). Creditors of the VIE do not have recourse to the general credit of the Company for any of the liabilities of the VIE. There were no other pledges or collateralization of the VIE’s assets. (c) Liquidity and Going Concern The Group has been incurring losses from operations since inception. The Group incurred net losses of RMB92,041, RMB313,896 and RMB329,331 (US$47,748) for the years ended December 31, 2020, 2021 and 2022, respectively. Accumulated deficit amounted to RMB1,122,153 and RMB1,450,374 (US$210,284 ) as of December 31, 2021 and 2022, respectively. Net cash used in operating activities was RMB As of December 31, 2021 and 2022, the Group’s balance of cash and cash equivalents was RMB 246,863 and RMB249,310 (US$36,147), respectively. Up to the date of this report, the Group had unused loan facilities of RMB10,000 with expiration date of February 9, 2024. The Group’s ability to continue as a going concern is currently largely dependent on when the Group will obtain the type certificate of its EH216-S in the near term to launch fully commercial sales of its EH216-S autonomous aerial vehicle, and raising additional funds through debt financings or equity offerings. The Group’s management expect to obtain the type certificate in the near future as the Group has completed majority of the compliance tests of the EH216-S as of the date of this report. However, there is uncertainty as to when the Group will obtain the type certificate of its EH216-S in the near term, which may materially and adversely affect the execution of management’s business plan and the Company’s future liquidity. If the Group would be unsuccessful in obtaining the type certificate of EH216-S in a timely manner in the near term, or raising sufficient funds, the Group’s management will continue to tighten its cash management, further undertake significant cost-cutting measures, adjust the pace of its R&D projects , expand revenues from smart city management solutions and aerial media solutions Management has concluded, after giving consideration to its plans as noted above and existing balance of cash and cash equivalents as of December 31, 2022, that the Group has sufficient funds for sustainable operations and it will be able to meet its payment obligations from operations and debt related commitments for the next twelve months from the issuance of the consolidated financial statements. Accordingly the consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities during the normal course of operations. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies (a) Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”) to reflect the financial position, results of operations and cash flows of the Group. Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below. (b) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries and the VIEs, for which the Company is the ultimate primary beneficiary. All significant inter-company transactions and balances between the Company, its subsidiaries, and the VIEs have been eliminated upon consolidation. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power: has the power to appoint or remove the majority of the members of the board of directors (the “Board”): to cast majority of votes at the meeting of the Board or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIE’s economic performance, and also the Company’s obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. (c) Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and revenues and expenses during the reporting periods in the consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in the Group’s consolidated financial statements include, but not limited to expected total costs of command-and-control (d) Foreign currency The functional currency of the Company, Ehfly, and EHANG Investment (HK) Limited (“EHang HK”) is the United States dollar (“US$”). The functional currency of EHang Holding GmbH (“EHang GmbH”), EHANG TECHNOLOGIES SPAIN & LATAM, S.L. (“EHang Spain”) and Ehang EUROPE SAS (“EHang France”) is the euro (“€”). The functional currency of the Company’s PRC subsidiaries and the VIEs is the Renminbi (“RMB”). The Group uses the RMB as its reporting currency. The determination of the respective functional currency is based on the criteria set out by ASC 830, Foreign Currency Matters Transactions denominated in foreign currencies are re-measured re-measured Non-monetary re-measured The financial statements of the Group’ entities of which the functional currency is not RMB use the periodic average exchange rates and the exchange rate at the balance sheet date to translate the operating results and financial position, respectively. Translation differences are recorded in accumulated other comprehensive income (loss), a component of shareholders’ (deficit) equity. (e) Convenience translation Amounts in US$ are presented for the convenience of the reader and are translated at the noon buying rate of US$1.00 to RMB6.8972 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts represent or could have been, or could be, converted, realized or settled into US$ at that rate on December 30, 2022, or any other rate. (f) Cash and cash equivalents Cash and cash equivalents consist of cash on hand, deposits and highly liquid investments placed with bank and other financial institutions, which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased. (g) Restricted cash As of December 31, 2021, restricted cash amounting to RMB160 mainly represents cash frozen by People’s Court of Nansha District in Guangzhou city in request by a third-party plaintiff regarding a lawsuit against one of the Group’s subsidiaries. The lawsuit has come to a sentence and the Company has fulfilled its obligation. The Company filed a request with the court to release the judicial freeze on the Group’s cash which had been released in January 2022. As of December 31, 2022, there was no restricted cash in the Group. (h) Short-term investments All highly liquid investments with original maturities of greater than three months but less than twelve months, are classified as short-term investments. Investments that are expected to be realized in cash during the next twelve months are also included in short-term investments. As of December 31, 2021, the Group’s short-term investments comprised of debt instruments issued by international financial institutions (Note 4). The Group accounts for short-term investments in accordance with ASC 320 (“ASC 320”), Investments—Debt and Equity Securities “held-to-maturity,” “available-for-sale,” held-to-maturity held-to-maturity available-for-sale, (i) Accounts receivable and allowance for doubtful accounts Accounts receivable receivable (j) Loans receivable and allowance for credit loss The long-term loans receivable represents the loans to third parties (Note 9). Such amount is recorded at the principal net of allowance for credit loss, if any, and includes accrued interest receivable as of the balance sheet date. The Group reviews and monitors the credit worthiness of the third parties. An allowance for credit loss is recorded in the period in which a loss is determined to be probable and the amount of the loss can be reasonably estimated. RMB1,704 (US$247) of allowance for credit losses were incurred for the year ended December 31, 2022. (k) Cost and estimated earnings in excess of billings Design and construction of customized command-and-control cost-to-cost command-and-control one-year command-and-control Revenue in excess of billings on the contracts is recorded as costs and estimated earnings in excess of billings. Billings in excess of revenues recognized on the contracts are recorded as deferred income until the above revenue recognition criteria are met. The carrying value of the Group’s costs and estimated earnings in excess of billings, net of the allowance for doubtful accounts, represents their estimated net realizable value. The Group recognizes an allowance for doubtful accounts on costs and estimated earnings in excess of billings when it is probable that it will not collect the amount and writes off any balances in the period when deemed uncollectible. The Group periodically reviews the status of contracts and decides how much of an allowance for doubtful accounts should be made based on factors surrounding the credit risk of customers and historical experience. The Group does not require collateral from its customers and does not charge interest for late payments by its customers. As of December 31, 2021, the decrease in cost and estimated earnings in excess of billings was in accordance with the achievement of milestones in the pre-determined command-and-control (l) Inventories Inventories are comprised of raw materials, work in progress and finished goods. The Group’s raw materials consist of accessories and hardware parts used to produce autonomous aerial vehicles and hardware for building the command-and-control ) (m) Property Plant and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated useful life Residual value Mold and tooling 2-5 years 0 % Office equipment 5 years 5 % Machinery and electronic equipment 3-10 years 5 % Transportation equipment 4 years 5 % Leasehold improvements Shorter of lease term or the estimated useful lives of the assets 0 % Repair and maintenance costs are charged to expense as incurred, whereas the costs of renewals and betterments that extend the useful lives of property and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of comprehensive loss. The loss on the disposal of property and equipment amounting to were recognized in other expenses for the years ended December 31, 2020 and 2021. The gain on the disposal of property and equipment amounting to RMB ) was recognized in other income for the year ended December 31, 2022. Direct costs that are related to the construction of property and equipment and incurred in connection with bringing the assets to their intended use are capitalized as construction-in-progress. Construction-in-progress (n) Intangible assets, net Intangible assets consist of software, patents and trademarks. Intangible assets with finite lives, including software, patents and trademarks are carried at acquisition cost less accumulated amortization and impairment, if any. Finite lived intangible assets are tested for impairment if impairment indicators arise. Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below: Category Estimated useful life Software 3-5 Patents and trademarks 5 years The estimated useful lives of intangible assets with finite lives are reassessed if circumstances occur that indicate the original estimated useful lives have changed. There are no intangible assets with indefinite lives for the years ended December 31, 2020, 2021 and 2022. (o) Impairment of long-lived assets other than goodwill The Group evaluates its long-lived assets or asset group, including intangible assets with finite lives, for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset or a group of long-lived assets may not be recoverable. When these events occur, the Group evaluates for impairment by comparing the carrying amount of the assets to future undiscounted net cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss based on the excess of the carrying amount of the asset group over its fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the long-lived assets or asset group, when the market prices are not readily available. Nil, RMB1,627 and nil impairment of long-lived assets were recognized for the years ended December 31, 2020, 2021 and 2022, respectively. (p) Long-term investments The Group’s long-term investments consist of an equity investment without readily determinable fair value and an equity investment accounted for using the equity method. Equity Investments without Readily Determinable Fair Values According to ASC 321, the Group elected to use the measurement alternative to measure the investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Group’s management regularly evaluates the impairment of its investments based on the performance and financial position of the investee as well as other evidence of estimated market values. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financing, projected and historical financial performance, cash flow forecasts and current and future financing needs. An impairment loss is recognized in the consolidated statements of comprehensive loss equal to the excess of the investment’s cost over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value would then become the new cost basis of the investment. Equity Investments Accounted for Using the Equity Method Investments in equity investees represent investments in entities in which the Group can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC 323-10, Investments-Equity Method and Joint Ventures: Overall 323-10”). 323-10. (q) Fair value measurements of financial instruments The Group applies ASC 820 (“ASC 820”), Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach; and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters. The Group’s financial instruments primarily consist of cash and cash equivalents, restricted cash, short-term investments, loans receivable, accounts receivable and payable, other current assets, bank loans, short-term debt, accrued expenses and other liabilities and mandatorily redeemable non-controlling non-controlling As of December 31, 2021, Financial assets that are measured at fair value on a recurring basis consist of a debt investment, which was classified within Level II of the fair value hierarchy because the quoted market price of underlying asset is not fully observable. As of December 31, 2022, the Group had no financial assets that are measured at fair value. (r) Revenue recognition The Group’s revenues are primarily derived from the sale of Autonomous Aerial Vehicles (“AAVs”) and related commercial solutions, mainly including air mobility solutions, smart city management solutions, and aerial media solutions. The Group enters into legally enforceable and binding agreements with its customers with fixed terms and conditions, including pricing. The Group recognizes revenue at the amount to which it expects to be entitled when control of the products or services are transferred to its customers. Revenues are presented net of taxes collected on behalf of the government. When either party to a contract has performed, the Group presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the Group’s right to consideration in exchange for goods and services that the Group has transferred to a customer when the consideration is conditioned other than the passage of time, which is recorded as unbilled revenue. A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. If a customer pays consideration or the Group has a right to an amount of consideration that is unconditional, before the Group transfers a good or service to the customer, the Group presents the contract liability when the payment is made or a receivable is recorded (whichever is earlier). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. The Group’s contract liabilities primarily result from the advance received of sales of AAVs and related commercial solutions, which are recognized as revenue based on the consumption of the services or the delivery of the goods. The Group generally does not separately bill its customers for shipping and handling fees and charges. The Group elects to record the costs incurred for shipping and handling in “sales and marketing expenses” in its consolidated statements of comprehensive loss. The shipping and handling costs for the years ended December 31, 2020, 2021 and 2022 were RMB1,409, RMB1,067 and RMB848 (US$123 ) Practical Expedients The transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, has not been disclosed as substantially all of the Group contracts have a duration of one year or less. Air mobility solutions Revenues from air mobility solutions are primarily product revenues from the sales of passenger-grade AAVs based on firm customer orders with fixed terms and conditions, including pricing, net of discounts, if any. The performance obligation under the contract is the delivery of passenger-grade AAVs, which is satisfied at a point in time, in general upon the Group’s receipt of acknowledgement receipts from customers or under some circumstances upon the products have been shipped to the contractually agreed location when the products are sold to customers outside PRC. The Group only provides the right of return for defective goods in connection with its warranty policy which is accounted for as an assurance-type warranty (Note 11). For the extended warranty beyond the standard policy, the Group considers it provides a level of protection beyond defects that existed at the time and accounts it as a separate performance obligation. The Group also sells software components of the passenger-grade AAVs. As the hardware and software components are highly interdependent, the entire bundle of promised goods is considered one performance obligation within the context of the contract. The single performance obligation is satisfied at a point in time, which is upon customer acceptance of the products. Service revenues from air mobility solutions are primarily provision of logistics services which are satisfied over time. Smart city management solutions The Group enters into contracts with its customers for designing, building and delivering customized integrated command-and-control command-and-control cost-to-cost command-and-control command-and-control The Group reviews and updates the estimated total costs of command-and-control command-and-control Contract modifications, defined as changes in the scope or price (or both) of a contract that are approved by the parties to the contract, such as a contract amendment, exist when the parties to a contract approve a modification that either creates new or changes existing enforceable rights and obligations of the parties to the contract. Contract modifications, if any, will be accounting for as one of the following: (i) a separate contract; (ii) a termination of the existing contract and a creation of a new contract; or (iii) a combination of the preceding treatments. A contract modification is accounted for as a separate contract if the scope of the contract increases because of the addition of promised goods or services that are distinct and the price of the contract increases by an amount of consideration that reflects the Group’s standalone selling prices of the additional promised goods or services. When a contract modification is not considered a separate contract and the remaining goods or services are distinct from the goods or services transferred on or before the date of the contract modification, the Group accounts for the contract modification as a termination of the existing contract and a creation of a new contract. When a contract modification is not considered a separate contract and the remaining goods or services are not distinct, the Group accounts for the contract modification as an add-on catch-up Aerial media solutions The Group generates revenue by providing aerial media performance services and related products. Aerial media performance services allow multiple smart control-based drones to demonstrate and transform their formation to display diversified messages and images in specific airspace, that is tailor made based on different branding or advertising requirements. The Group uses self-produced drones and customizes the fleet formation performances based on customer’s needs and availability of airspace approval in the area. The performance is usually completed within a day and revenue is recognized when the service is delivered. The Group also sells hardware and software components of the aerial media performance drones. As the hardware and software components are highly interdependent, the entire bundle of promised goods is considered one performance obligation within the context of the contract. The single performance obligation is satisfied at a point in time, which is upon customer acceptance of the products. Others The Group generates other revenues mainly from stand-alone sales of consumer drones and their components and spare parts. Revenues are recognized when the consumer drones are shipped and the control of the drones are transferred to the customers. The Group started to phase out the consumer drone business in late 2016. (s) Cost of revenue Cost of revenue consists primarily of autonomous aerial vehicle material and manufacturing costs, construction costs of smart city management solutions, product warranty costs, provision for inventories, payroll, employee benefits, rental fees, depreciation and related costs of operations. (t) Product warranty liability The Group offers standard warranties to replace or repair defects on certain hardware parts of its passenger-grade AAVs for a period of six months to three years. The Group does not provide warranties to guarantee that the AAVs will perform as expected or in accordance with published specifications or provide expected benefits. The Group also provides a standard warranty for hardware and software for the command-and-control de-bugging Product warranty accrual is included in accrued expenses and other current liabilities (Note 11) and other non-current liabilities in the accompanying consolidated balance sheets. (u) Advertising expenditures Advertising expenditures are expensed as incurred and are included in sales and marketing expenses, which amounted to RMB1,965, RMB2,114 and RMB2,945 (US$427 ) (v) General and administrative expenses General and administrative expenses consist primarily of payroll, employee benefits, share-based compensation, legal and other professional services fees, long-lived assets impairment, allowance for doubtful accounts (w) Research and development expenses Research and development expenses include materials and supplies, payroll, employee benefits, share-based compensation and other operating expenses such as rent, depreciation and other related expenses. The Group capitalizes costs to develop or obtain internal-use internal-use 350-40 350-40”), Internal-Use internal-use The Group also incurs cost to develop software embedded in its products. The software components cannot function or be sold separately from the AAV as a whole. The Group accounts for costs incurred in the development of software embedded in its products in accordance with ASC 985-20 985-20”), Costs of Software to be Sold, Leased, or Marketed (x) Leases The Group leases facilities under non-cancellable No.2016-02 (Topic Based on the portfolio of leases as of December 31, 2021, a right-of-use The Group has elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at commencement date of the lease and do not include options to purchase or renew that the Group is reasonably certain to exercise. The Group accounts for short-term leases with terms less than 12 months in accordance with ASC 842-20-25-2 Operating leases are included in right-of-use non-current The Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to carry forward the historical determination of contracts as leases, lease classification and not reassess initial direct costs for historical lease arrangements. In addition, the Group also elected the practical expedient to apply consistently to all of the Group’s leases to use hindsight in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Group’s right-of-use assets. The Group has lease agreements with lease and non-lease components, and has elected to utilize the practical expedient to account for the non-lease components together with the associated lease component as a single combined lease component. As most of the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The incremental borrowing rate is a hypothetical rate based on the Group’s understanding of what its credit rating would be to borrow and resulting interest the Group would pay to borrow an amount equal to the lease payments in a similar economic environment over the lease term on a collateralized basis. (i) Right-of-use Right-of-use right-of-use (ii) Lease liabilities Lease liabilities are lessees’ obligations to make the lease payments arising from a lease, measured on a discounted basis. As a lessee, the weighted average remaining lease terms of the right-of-use For the year ended December 31, 2022, operating lease cost and short-term lease cost were RMB13,986 (US$2,028 ) l ) A maturity analysis of the Company’s operating lease liabilities and reconciliation of the undiscounted cash flows to the operating lease liabilities recognized on the consolidated balance sheet was as below: Office and production RMB US$ 2023 5,632 817 2024 4,290 622 2025 4,982 721 2026 6,448 935 2027 6,817 988 2028 and thereafter 88,136 12,779 Minimum lease payments 116,305 16,862 Less: imputed interest (40,872 ) (5,926 ) Present value of lease liabilities 75,433 10,936 Less: Current portion (5,520 ) (800 ) Non-current portion of lease liabilities 69,913 10,136 As of December 31, 2021, future minimum lease payments under non-cancellable operating leases with initial terms in excess of one year consisted of the following: Office and production facilities rental RMB 2022 11,530 2023 5,926 2024 791 2025 1,252 2026 2,635 2027 and thereafter 4,612 Total 26,746 For the years ended December 31, 2020 and 2021, the Group recognized operating lease expenses for all operating leases of RMB9,019 and RMB10,460, respectively, under ASC 840. (y) Government subsidies Government subsidies primarily consist of financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. There are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government subsidies of operating nature with no further conditions to be met are recorded in “other operating income” when received. The government subsidies with certain operating conditions are recorded as “deferred government subsidies” on the consolidated balance sheets when received and are recorded as operating income when the conditions are met. On January 1, 2022, the Group adopted ASU No. 2021-10, Government Assistance (Topic 832). This ASU requires business entities to disclose information about government assistance they receive if the transactions were accounted for by analogy to either a grant or a contribution accounting model. The disclosure requirements include the nature of the transaction and the related accounting policy used, the line items on the balance sheets and statements of operations that are affected and the amounts applicable to each financial statement line item and the significant terms and conditions of the transactions. The disclosure requirements can be applied either retrospectively or prospectively to all transactions in the scope of the standard that are reflected in the financial statements at the date of initial application and new transactions that are entered into after the date of initial application. The adoption of the standard did not have a material impact on the Group’s consolidated balance sheets and the consolidated statements of comprehensive loss. (z) Income taxes The Group follows the liability method of accounting for income taxes in accordance with ASC 740 (‘‘ASC 740’’), Income Taxes more-likely-than-not The Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as income tax expense. (aa) Share-based compensation The Group applies ASC 718 (‘‘ASC 718’’), Compensation—Stock Compensation The Group has elected to recognize compensation expense using the straight-line method for share-based awards granted with service conditions that have a graded vesting schedule. Prior to the completion of the IPO, with the assistance of an independent third-party valuation firm, the group determined the grant date fair value of the awards granted to employees. Subsequent to the completion of the IPO, share-based awards granted were measured based on the fair value of ordinary share as of grant date. The Group accounts for forfeitures as they occur. A change in any of the terms or conditions of share-based payment awards is accounted for as a modification of awards. The Group measures the incremental compensation cost of a modification as the excess of the fair value of the modified awards over the fair value of the original awards immediately before its terms are modified, based on the share price and other pertinent factors at the modification date. For vested awards, the Group recognizes incremental compensation cost in the period the modification occurred. For unvested awards, the Company recognizes, over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award on the modification date. If the fair value of the modified award is lower than the fair value of the original award immediately before modification, the minimum compensation cost the Group recognizes is the cost of the original award. The Group doesn’t reflect reload features and contingent features in the grant-date fair value of an equity award. Reload features and contingent features are that require a grantee to transfer equity shares earned, or realized gains from the sale of equity instruments earned, to the issuing entity for consideration that is less than fair value on the date of transfer (including no consideration), such as a claw back feature. The Group accounted for these features if and when the contingent event occurs by recognizing the consideration received in the corresponding balance sheet ac |
Concentration of Risks
Concentration of Risks | 12 Months Ended |
Dec. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
Concentration of Risks | 3. Concentration of Risks (a) Concentration of credit risk Financial instruments that potentially subject the Group to significant concentration of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments. As of December 31, 2021, the aggregate amount of cash and cash equivalents, restricted cash and short-term investments of RMB36,825 were held at major financial institutions located in the PRC and RMB275,306 were deposited with international financial institutions located outside the PRC, among which included short-term debt investments of RMB65,108 issued by a private equity fund outside the PRC that are mandatorily redeemable (Note 4). As of December 31, 2022, the aggregate amount of cash and cash equivalents RMB240,542 (US$34,876) was held at major financial institutions located in the PRC and RMB8,768 (US$1,271) was deposited with international financial institutions located outside the PRC. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. Management believes that these financial institutions are of high credit quality and continually monitors the credit worthiness of these financial institutions. Historically, deposits in Chinese banks are secure due to the state policy on protecting depositors’ interests. The Group selected reputable international financial institutions with high credit ratings to deposit its foreign currencies. The Company regularly monitors the credit ratings of the international financial institutions to avoid any potential defaults. In the event of bankruptcy of one of these financial institutions, the Group may not be able to claim its cash and demand deposits back in full. The Group continues to monitor the financial strength of the financial institutions. There has been no recent history of default in relation to these financial institutions. (b) Business supplier risk The Group relies on external supplies for raw materials and certain components and parts used in the Group’s products. Some of the components for AAVs are currently selected to be purchased from a single source to improve cost-efficiency. As the result of the COVID-19 Suppliers accounting for 10% or more of total purchases of materials were: As of December 31, 2021 2022 RMB RMB US$ Supplier A 7,807 3,056 443 B 8,405 * * C 7,596 * * * less than 10% of total purchase of materials of the Group. (c) Customer risk The success of the Group’s business going forward will rely in part on the Group’s ability to continue to obtain and expand its business from existing customers while also attracting new customers. For the year end December 31, 2022, the majority of the Group’s revenue generated from sales of passenger-grade AAVs are from a limited number of customers that mainly operate the AAVs on a limited trial basis in tourism locations in China, rather than in broad, mainstream commercial operations. The COVID-19 External customers with 10% or more of the Group’s revenues are: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Customer A 22,655 * * * B 92,331 * * * C 24,071 7,080 * * D * 19,646 * * E * * 9,217 1,336 F * * 5,611 814 G * * 4,630 671 * less than 10% of total revenues of the Group. As of December 31, 2021, accounts receivable (including the non-current non-current (d) Currency convertibility risk The Group primarily transacts its business in RMB, which is not freely convertible into foreign currencies. On January 1, 1994, the PRC government abolished the dual rate system and introduced a single rate of exchange as quoted daily by the People’s Bank of China (the ‘‘PBOC’’). However, the unification of the exchange rates does not imply that the RMB may be readily convertible into US$ or other foreign currencies. All foreign exchange transactions continue to take place either through the PBOC or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC. Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts. (e) Foreign currency exchange rate risk From July 21, 2005, the RMB is permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies. The functional currency and the reporting currency of the Company are the US$ and the RMB, respectively. Most of the Group’s revenues and costs are denominated in RMB, while a portion of cash and cash equivalents is denominated in U.S. dollars. Any significant revaluation of RMB may materially and adversely affect the Group’s loss and shareholders’ equity in U.S. dollars. |
Short-term Investments
Short-term Investments | 12 Months Ended |
Dec. 31, 2022 | |
Cash and Cash Equivalents [Abstract] | |
Short-term Investments | 4. Short-term Investments Short-term investments as of December 31, 2021 consisted of the following: As of December 31, 2021 Cost or Amortized cost Gross unrecognized holding gains Gross unrecognized holding losses Gross unrealized gains Gross unrealized Fair value carrying amount RMB RMB RMB RMB RMB RMB Trading debt investments 63,741 1,367 — — — 65,108 63,741 1,367 — — — 65,108 The Group had no short-term investments as of December 31, 2022. Trading debt investments include debt investments issued by a private equity fund outside the PRC amounting to RMB65,108 as of December 31, 2021. The Company disposed of the debt investments in 2022. For the years ended December 31, 2020, 2021 and 2022, the Group recognized interest and investment income of RMB478, RMB1,818 and RMB2,771 (US$402) from short-term investments, respectively. For the year ended December 31, 2021, the realized gain on the available- for |
Accounts Receivable, Net
Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2022 | |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | |
Accounts Receivable, Net | 5. Accounts Receivable, Net Accounts receivable, net, consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Accounts receivable 125,606 135,678 19,671 Allowance for doubtful accounts (69,417 ) (115,380 ) (16,728 ) 56,189 20,298 2,943 The movements in the allowance for doubtful accounts were: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Balance at the beginning of the year (862 ) (10,051 ) (69,417 ) (10,064 ) Additional provision charged to expense (9,217 ) (59,347 ) (46,045 ) (6,676 ) Foreign currency translation 28 (19 ) 82 12 Balance at the end of the year (10,051 ) (69,417 ) (115,380 ) (16,728 ) |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories | 6. Inventories Inventories consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Raw materials 62,462 49,127 7,123 Work in progress 17,134 4,939 716 Finished goods 27,168 28,188 4,087 Inventories, total 106,764 82,254 11,926 Inventories provision (28,689 ) (9,890 ) (1,434 ) 78,075 72,364 10,492 |
Prepayments and Other Current A
Prepayments and Other Current Assets | 12 Months Ended |
Dec. 31, 2022 | |
Prepaid Expense and Other Assets, Current [Abstract] | |
Prepayments and Other Current Assets | 7. Prepayments and Other Current Assets Prepayments and other current assets consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Prepayment for service 1,672 11,157 1,618 Unbilled revenue (Note 15) — 10,800 1,566 Deductible value-added tax input 16,487 8,976 1,301 Prepayment for acquisition of inventories 8,286 6,910 1,002 Loans receivable – current portion (Note 9) — 4,000 580 Staff advances 1,257 940 136 Others 1,693 2,400 347 29,395 45,183 6,550 ) |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment, Net [Abstract] | |
Property and Equipment, Net | 8. Property As of December 31, 2021 2022 RMB RMB US$ Leasehold improvements 30,250 32,634 4,731 Machinery and electronic equipment 22,547 29,061 4,214 Transportation equipment 3,643 3,249 471 Office equipment 2,511 2,641 383 Construction in progress 1,720 1,885 273 Mold and tooling — 2,290 332 60,671 71,760 10,404 Less: accumulated depreciation (25,223 ) (23,240 ) (3,369 ) Less: accumulated impairment (1,627 ) (1,460 ) (212 ) 33,821 47,060 6,823 For the years ended December 31, 2020, 2021 and 2022, the Group recorded depreciation expense of RMB5,785, RMB7,427 and RMB8,478 (US$1,229 ) |
Long-term loans receivable
Long-term loans receivable | 12 Months Ended |
Dec. 31, 2022 | |
Long Term Loans Receivable [Abstract] | |
Long-Term Loans Receivable | 9. Long-Term Loans Receivable In January 2020, the Group entered into a three-year loan agreement with a third-party supplier of key AAV components with a principal amount of RMB52,000 and an interest rate of 3% per annum. The use of loan proceeds is limited to expanding supplier’s production capacity. This long-term loan can be repaid by the borrower at any time. The outstanding loan balance was guaranteed by the borrower’s sole shareholder and his spouse and would mature in January 2023. In 2020, RMB40,000 of the loan’s principal was repaid by the borrower. Subsequent to December 31, 2022, the Group entered into a supplementary agreement with the third-party supplier to extend the term of the loan of the outstanding amount of RMB12,000 (US$1,740) as follows: (1) RMB2,000 (US$290 ) of the outstanding amount is extended to September 30, 2023. (2) RMB ) of the outstanding amount is extended to December 31, 2023. (3) RMB ) of the outstanding amount is extended to December 31, 2024. RMB In March 2020, the Group provided a two-year For the years ended December 31, 2020, 2021 and 2022, the Group recognized interest income of RMB984, RMB418 and RMB423 (US$61) from the long-term loans receivable, respectively. |
Long-term Investments
Long-term Investments | 12 Months Ended |
Dec. 31, 2022 | |
Long-term Investments [Abstract] | |
Long-term Investments | 10. Long-term Investments As of December 31, 2021 2022 RMB RMB US$ Equity method investments (a) 3,224 6,920 1,004 Equity investments without readily determinable fair values (b) 2,919 2,919 423 6,143 9,839 1,427 (a) In June 2021, the Group and a third-party investor entered into an investment agreement to establish an entity for establishing the 5G Intelligent Air Mobility Experience Center as well as local urban air mobility route planning and AAV operations, with total cash consideration of RMB10,500 and RMB19,500, respectively. The Group has made the investment of cash amounting RMB700 and RMB4,550 (US$660) in 2021 and 2022, respectively, and recorded RMB2,800 and RMB1,750 (US$254) in accrued expenses and other liabilities (Note 11), which was investment payable as of December 31, 2021 and 2022, respectively, pursuant to the investment agreement. The Group holds 35% of the equity interests and has significant influence on the investee, and accounted for the investment with equity method. For the year ended December 31, 2021, the Group recognized the loss from equity method investment in the amount of RMB276. For the year ended December 31, 2022, the Group recognized the income (b) In 2017, the Group provided facilitating services to a third party to acquire a land use right from the Guangzhou City government. In exchange for such services, the Group received a cash consideration of RMB41,117 and 5% equity interests in a corporation, the sole asset of which was the aforementioned land use right. The Group elected to use the measurement alternative to measure this investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. As of December 31, 2021 and 2022, the carrying value of this investment was RMB2,919 and RMB2,919 (US$423). |
Accrued Expenses and Other Liab
Accrued Expenses and Other Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Accrued Liabilities and Other Liabilities [Abstract] | |
Accrued Expenses and Other Liabilities | 11. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Payroll and welfare payables 32,532 39,268 5,693 Provision for litigation settlement (a) — 23,506 3,408 Payables for service fees 10,919 15,572 2,258 Other taxes payables 5,014 6,070 880 Product warranty liabilities 4,758 3,306 479 Payables for acquisition of property 1,237 3,040 441 Consideration payable to an equity method investment (Note 10(a)) 2,800 1,750 254 Accrued interests 769 749 109 Others 3,822 4,502 653 61,851 97,763 14,175 A reconciliation of the changes in the Group’s product warranty liability is as follows: For the year ended December 31, 2021 2022 RMB RMB US$ Balance as of the beginning of the year 4,856 4,758 690 Accruals during the year 1,258 880 128 Claims during the year (319 ) (661 ) (96 ) Reversal during the year (1,037 ) (1,197 ) (174 ) Balance as of the ending of the year 4,758 3,780 548 Less: Non-current portion of warranty — (474 ) (69 ) Current portion of warranty 4,758 3,306 479 (a) As detailed in Note 24(b) (ii), the Company made a total provision of US$3,375 based on the ongoing settlement agreement corresponding amount |
Bank Loans
Bank Loans | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Bank Loans | 12. Bank Loans As of December 31, 2021 and 2022, certain bank loans were pledged by some of Group’s Intangible assets. Short-term bank loans The outstanding short-term bank loans of RMB10,000 as of December 31, 2021 was fully repaid upon maturity in 2022. In 2022, the Group obtained bank loans amounting to RMB 49,794 (US$ or quarterly Long-term bank loans In 2021, the Group entered into long-term agreements with a bank in the PRC of total principals of RMB20,000, subject to an effective interest rate of 3.8% per annum, and with a maturity date from April 2, 2022 to March 15, 2026. As of December 31, 2021 and 2022, the principal amount of RMB3,000 and RMB13,154 (US$1,907), respectively, was due within 12 months after the balance sheet date and presented as current liabilities in the consolidated balance sheet. The carrying value of the long-term bank loans approximates its fair value as of December 31, 2021 and 2022. The interest rates under the loan agreements with the banks were determined based on the prevailing interest rates in the market. The Group classifies the valuation techniques that use these inputs as Level II. |
Short-term debt
Short-term debt | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Short-term debt | 13. Short-term Debt In December 2022, the Company entered into an SPA with the Investor to sell Underlying Shares to the investor for a total consideration of US$10,000, on the condition that the Investor will obtain ODI approval for the investment. The Underlying Shares consist of 3,466,204 Class A ordinary shares of the Company, determined by the total consideration and average closing price of the Company’s ordinary shares for the previous 30 days upon the sign-off of SPA. A Supplemental Agreement has been entered into and agreed that the Investor would pay a cash consideration of RMB69,861, equivalent to total consideration of US$10,000, to the designated subsidiary of the Company. Concurrently, the Company would issue the Underlying Shares to the Investor or its designated offshore entities. Up to December 31, 2022, the Investor provided the Proceeds of RMB69,861 to the Group, while the Underlying Shares haven’t been issued yet. Pursuant to the Supplemental Agreement, the Group is obligated to repay the RMB Proceeds to the investor three months after the sign-off of SPA or a longer period agreed by both parties (the “Maturity Date”). The RMB Proceeds were loan from the investor and accounted for as a short-term debt under ASC 470, Debt Pursuant to the SPA, the Company agreed to sell the Underlying Shares to the investor at a future date, which was accounted for as Warrants issued by the Company and classified as equity because it would be settled with equity in the future according to the accounting policy as detailed in Note 2(ah). The Group received the RMB Proceeds for the short-term debt and Warrants in a bundled transaction. Management allocated Proceeds to the short-term debt and the Warrants based on their relative fair values. As a result, RMB13,697 (US$1,986) was allocated to the Warrants and recorded as additional paid-in capital, and RMB56,164 (US$8,143) was allocated to the debt on the initial recognition date. The difference between the amount to be repaid on Maturity Date and the initial recognition d Up to the date of issuance of the consolidated financial statement, the Company completed issuance of the Underlying shares to the investor, repaid RMB69,861 and received the total consideration of US$10,000 after the investor obtained the ODI approval in 2023 (Note 2 5 |
Mandatorily redeemable non-cont
Mandatorily redeemable non-controlling interests | 12 Months Ended |
Dec. 31, 2022 | |
Noncontrolling Interest [Abstract] | |
Mandatorily redeemable non-controlling interests | 14. Mandatorily Redeemable Non-controlling On June 15, 2020, the Group established a subsidiary named EHang Yunfu (Note 1). On June 30, 2020, the Group entered into an agreement with a new investor who subscribed 30% of the equity interests of EHang Yunfu for cash consideration of RMB40,000. At the sole discretion of the investor, the Group is obligated to repurchase the 30% non-controlling non-controlling non-controlling after-tax ) non-controlling The carrying value of Mandatorily redeemable non-controlling |
Revenues
Revenues | 12 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | 15. Revenues The following table presents the disaggregation of revenue from contracts with the customers: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Revenues - Products Air mobility solutions 105,351 46,854 38,061 5,519 Smart city management solutions 8,282 7,135 2,133 309 Aerial media solutions 62,241 518 125 18 Others 186 416 456 66 Subtotal-Products 176,060 54,923 40,775 5,912 Revenues - Services Air mobility solutions 618 1,302 2,326 337 Aerial media solutions 3,415 582 1,216 176 Subtotal-Services 4,033 1,884 3,542 513 Total Revenues 180,093 56,807 44,317 6,425 Payment terms For the Group’s Air mobility solutions and Aerial media solutions, the Group typically requires a portion of payments upfront and the remaining amounts are contractually due ranging from three to six months. Due to the COVID-19 COVID-19 Contract balances Contract balances include Accounts receivable, Unbilled revenue and Cost and estimated earnings in excess of billings. Accounts receivable represents the billed and unbilled amounts related to the Company’s rights to consideration as performance obligations are satisfied and the rights to payment become unconditional but for the passage of time. In 2021 and 2022, the decrease in Accounts receivable was mainly due to impairment of balances amounted to RMB59,347 and RMB46,045 (US$6,676 ) pre-determined command-and-control Contract liabilities represent payments received from customers for which the corresponding products or services have not yet been transferred to customers. In 2022, the increase in Contract liabilities was primarily contributed by advance from customers of sales of passenger-grade AAVs. Revenue of RMB3,828 (US$555 ) |
Share-based Compensation
Share-based Compensation | 12 Months Ended |
Dec. 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Compensation | 16. Share-based Compensation In order to provide additional incentives to employees and to promote the success of the Group’s business, the Group adopted a share incentive plan that was approved by the Board of Directors on December 23, 2016 (the “2015 Plan”). Under the 2015 Plan, the aggregate number of ordinary shares that may be issued pursuant to all share-based awards (including restricted shares, RSUs and share options) is 8,867,053 ordinary shares and can be increased up to a number that is equal to 15% of the then total outstanding shares on a fully diluted basis at the discretion of the Company’s Board of Directors. In September 2019, the Company’s Board of Directors approved the 2019 Share Incentive Plan (the “2019 Plan”), which become effective upon the completion of the Company’s IPO on December 12, 2019. Under the 2019 Plan, the aggregate number of ordinary shares that may be issued pursuant to all share-based awards (including restricted shares, RSUs and share options) is 7,747,019 ordinary shares and can be increased up to a number that is equal to 15% of the then total outstanding shares on a fully diluted basis at the discretion of the Company’s Board of Directors. Pursuant to both 2015 Plan and 2019 Plan (collectively, the “Plans ”), The Company granted a total of 750,000, nil and nil RSU to the Group’s employees under the 2015 Plan and a total of 1,613,000, 4,790,000 and 876,380 RSUs to the Group’s employees under the 2019 Plan for the years ended December 31, 2020, 2021 and 2022. A total of 5,000 RSUs are subject to service conditions and vest over one-year period starting from the vesting inception date. A total of 451,380 RSUs are subject to service conditions and vest over a two-year period starting from the vesting inception date. A total of 7,573,000 RSUs are subject to service conditions and vest over a four-year period starting from the vesting inception date. RSUs The following table summarizes the Company’s RSUs activity under the Plans: Number of RSUs Weighted average Weighted average (US$) (Years) Unvested, December 31, 2019 735,476 4.7523 3.02 Granted 2,363,000 4.2912 Vested (1,819,726 ) 4.1359 Forfeited — — Unvested, December 31, 2020 1,278,750 4.7774 2.68 Granted 4,790,000 10.6200 Vested (1,949,250 ) 9.2469 Forfeited — — Unvested, December 31, 2021 4,119,500 9.4561 2.67 Granted 876,380 1.8800 Vested (2,034,880 ) 7.2254 Forfeited (283,000 ) 7.5431 Unvested, December 31, 2022 2,678,000 8.8740 1.90 Expected to vest as of December 31, 2022 2,678,000 The total share-based compensation expenses relating to RSUs for the years ended December 31, 2020, 2021 and 2022 were RMB54,036, RMB121,131 and RMB96,898 (US$14,049 ), r As of December 31, 2022, there was RMB158,870 (US$23,034 ) Share options The following table summarizes the Company’s share options activity under the 2015 Plan: Number of share Weighted average Weighted average (US$) (US$) Outstanding as of January 1 and December 31, 2022 53,737 2.2624 5.8853 Vested and expected to vest as of December 31, 2022 53,737 2.2624 5.8853 Exercisable as of December 31, 2022 53,737 2.2624 5.8853 The share-based compensation expense relating to the share options recognized were RMB821, nil and nil for the years ended December 31, 2020, 2021 and 2022.There was no unrecognized share-based compensation expenses relating to the shares options as of December 31, 2020, 2021 and 2022. The Group calculated the estimated fair value of the share options under the 2015 Plan on the grant date using the Black-Scholes valuation model. Assumptions used to determine the fair value of the share options granted under the 2015 Plan is summarized in the following table: For the year ended December 31, 2020 Term in years 5 Volatility 53.73 % Discount rate 0.85 % Fair value per ordinary share US$ 5.24 Total share-based compensation expenses relating to RSUs and options granted to employees recognized for the years ended December 31, 2020, 2021 and 2022 were as follows: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cost of revenues 2,443 — — — Sales and marketing expenses 10,883 18,327 22,125 3,208 General and administrative expenses 14,453 71,147 38,452 5,575 Research and development expenses 27,078 31,657 36,321 5,266 54,857 121,131 96,898 14,049 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Tax | 17. Income Taxes Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain arising in Cayman Islands. Austria EHang GmbH is subject to Austria profits tax of 25% on its activities conducted in Austria. France EHang France is subject to France profits tax of 28% on its activities conducted in France. Spain EHang Spain is subject to Spain profits tax of 25% on its activities conducted in Spain. Hong Kong Ehfly and EHang HK are incorporated in Hong Kong and are subject to Hong Kong profits tax. Hong Kong profits tax for a corporation from the year of assessment 2018 and 2019 onwards is generally 8.25% on assessable profits up to HK$2.0 million; and 16.5% on any part of assessable profits over HK$2.0 million. PRC The Company’s subsidiaries and the VIEs in the PRC are subject to the statutory rate of 25%, in accordance with the Enterprise Income Tax law (the ‘‘EIT Law’’), which was effective since January 1, 2008 except for certain entities eligible for preferential tax rates. In accordance with the PRC Income Tax Laws, an enterprise awarded with the High and New Technology Enterprise (“HNTE”) certificate may enjoy a reduced EIT rate of 15%. Qualified as an HNTE, EHang Intelligent was eligible for a 15% preferential rate from 2020 to 2022, EHang GZ was eligible for a 15% preferential rate from 2019 to 2024 and Guangdong EHang Egret Media Technology Co. Ltd. (“EHang Egret GD”) is eligible for 15% preferential rate from 2018 to 2020, EHang Egret GD has not reapplied for HNTE after 2020. From January 1, 2010 to December 31, 2020, the newly established enterprises in Xinjiang Kashgar and Khorgos, which are two special economic development zones belong to the Xinjiang Difficult Areas Key Encouraged Development Industry Enterprise Income Tax Preferential Catalogue (the ‘‘Catalogue’’), shall be exempted from corporate income tax for five years from the tax year in which the first operating income is obtained. Kashi EHang Egret Media Technology Co., Ltd. (“EHang Egret KS”) established in 2017, engaged in industries that belong to Software Development and Business Service Industry in the catalogue. As the first operating income generated in 2018, EHang Egret KS may enjoy a reduced EIT rate of 0%. According to a policy promulgated by the State Tax Bureau of the PRC and effective from 2008 onwards, enterprises engaged in R&D activities are entitled to claim an additional tax deduction amounting to 50% of the qualified R&D expenses incurred in determining its tax assessable profits for that year. The additional tax deduction amount of the qualified R&D expenses has been increased from 50% to 75%, effective from 2018 to 2020, according to a new tax incentives policy promulgated by the State Tax Bureau of the PRC in September 2018 (“Super Deduction”). According to Announcement of the Ministry of Finance and the State Taxation Administration [2021] No.13 (“Circular 13”), manufacturing enterprise with qualified R&D expenses could enjoy R&D Super Deduction, i.e. to claim additional 100% R&D expenses on top of those actually incurred. EHang Intelligent and Yunfu EHang were subject to 100% super deduction while R&D expenses for other entities within the group remain deducted additionally at 75%. Dividends, interests, rent or royalties payable by the Company’s PRC subsidiaries, to non-PRC non-resident non-PRC The Group’s loss before income taxes consisted of: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ PRC (30,412 ) (185,000 ) (192,495 ) (27,909 ) Non-PRC (61,423 ) (128,762 ) (136,757 ) (19,828 ) (91,835 ) (313,762 ) (329,252 ) (47,737 ) Income tax expense (benefit) comprises of: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Income tax expenses (benefits) applicable to PRC operations Current income tax expenses 22 113 62 9 Deferred income tax (benefits) expenses 184 — — — Subtotal income tax expenses applicable to PRC operations 206 113 62 9 Income tax expenses applicable to Non-PRC Current income tax expenses — 21 17 2 Subtotal income tax expenses applicable to Non-PRC — 21 17 2 Total income tax expenses 206 134 79 11 The reconciliations of the income tax expenses for the years ended December 31, 2020, 2021 and 2022 were as follows: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Loss before income tax expense (91,835 ) (313,762 ) (329,252 ) (47,737 ) PRC statutory tax rate 25 % 25 % 25 % 25 % Income tax benefits at PRC statutory tax rate of 25% (22,959 ) (78,440 ) (82,313 ) (11,934 ) Effect of different tax rates in different jurisdictions 14,347 31,370 32,886 4,768 Non-deductible 1,195 5,455 6,758 980 Additional deduction for qualified R&D expenses (13,646 ) (24,197 ) (20,731 ) (3,006 ) Effect on adoption of preferential tax rate (12 ) 22 3 — Changes in tax rate in measurement of deferred tax 3,345 — — — Statutory expense (1,855 ) 2,636 2,151 312 Others 133 134 79 11 Change in valuation allowance 19,658 63,154 61,246 8,880 Income tax expenses 206 134 79 11 Effect of preferential tax rate inside the PRC on basic and dilutive loss per share — — — — The significant components of the Group’s deferred tax assets (liabilities) were as follows: As of December 31, 2020 2021 2022 RMB RMB RMB US$ Non-current Tax losses 103,721 151,160 203,259 29,470 Allowance for doubtful accounts 3,047 17,376 29,288 4,246 Lease liabilities — — 18,858 2,734 Welfare payables 4,308 5,807 7,362 1,067 Inventory provision 7,360 7,172 2,472 359 Accrued expenses and other liabilities 1,354 1,329 1,573 228 Intangible assets — 43 23 3 Unrealized loss on long-term investment — 69 20 3 Unrealized profit arising from elimination of inter-company transactions 466 474 206 30 Deferred government subsidies 35 15 — — Total deferred tax assets 120,291 183,445 263,061 38,140 Less: valuation allowance (120,291 ) (183,445 ) (244,691 ) (35,477 ) Deferred tax assets, net of valuation allowance — — 18,370 2,663 Non-current Right-of-use assets — — (18,370 ) (2,663 ) Unrealized gain on long-term investment (292 ) (292 ) (292 ) (42 ) Total deferred tax liabilities (292 ) (292 ) (18,662 ) (2,705 ) Deferred tax assets (liabilities), net of valuation allowance (292 (292 (292 ) (42 ) Full valuation allowances have been provided where, based on all available evidence, management determined that deferred tax assets are not more likely than not to be realizable in future tax years. Movement of valuation allowance is as follow: As of December 31, 2020 2021 2022 RMB RMB RMB US$ Valuation allowance Balance at beginning of the year 100,633 120,291 183,445 26,597 Additions 19,658 63,154 61,246 8,880 Balance at end of the year 120,291 183,445 244,691 35,477 The Group operates through several subsidiaries and the VIEs. Valuation allowance is considered for each of the entities on an individual basis. Realization of the net deferred tax assets is dependent on factors including future reversals of existing taxable temporary differences and adequate future taxable income, exclusive of reversing deductible temporary differences and tax loss or credit carry forwards. As of December 31, 2021 and 2022, valuation allowances were provided against deferred tax assets in entities which were in a three-year cumulative loss position and not forecasting profits in the near future. As of December 31, 2021 and 2022, the Group had deductible tax losses of RMB584,961 and RMB786,444 (US$114,024 ) As of December 31, 2021 and 2022, the Group had deductible tax losses of RMB31,434 and RMB29,411 (US$4,264) derived from entities in Hong Kong that will not expire if not utilized. Unrecognized Tax Benefit As of December 31, 2021 and 2022, the Group had unrecognized tax benefit of RMB5,480 and RMB5,480 (US$795 ) ) A reconciliation of the beginning and ending amount of unrecognized tax benefit was as follows: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Balance at the beginning of the year (5,494 ) (12,987 ) (5,480 ) (795 ) Additions based on tax positions related to the current year (7,673 ) — — — Reductions for tax positions of prior years 180 7,507 — — Balance at the end of the year (12,987 ) (5,480 ) (5,480 ) (795 ) The Group did not The material jurisdictions in which the Group is subject to potential examination is China. In general, the PRC tax authorities have up to five years to review a company’s tax filings. As of December 31, 2022, the tax years ended December 31, 2017 through year ended as of the reporting dates for WFOE, the VIEs remain open to examination by the PRC tax authorities. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 18. Related Party Transactions The principal related parties with which the Group had transactions during the year presented are as follows: Name of Entity or Individual Relationship with the Company Mr. Huazhi Hu Principal Shareholder of the Company, Chairman of the Board and Chief Executive Officer Guangzhou Yitong Zhihang Technology Co., Ltd. A company over which the Group has significant influence (1) Transaction with related parties: For the year ended December 31, 2022, there is no transaction with related parties. For the year ended December 31, 2021, the revenue from an equity investee over which the Group has significant influence amounted to RMB1,504. (2) Amount due from a related party: As of December 31, 2022, there are no amount due from related parties. As of December 31, 2021, amount due from a related party amounting to RMB1,360 represented the receivables for the sales of autonomous aerial vehicles to an equity investee over which the Group has significant influence. (3) Guarantee received for borrowings: As of December 31, 2021, RMB10,000 short-term bank loans and RMB20,000 long-term bank loans were guaranteed by the Group’s founder and director, Mr. Huazhi Hu. As of December 31, 2022, RMB49,794 (US$7,219 ) ) |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | 19. Shareholders’ Equity Ordinary Shares On January 16, 2020, the Company issued 170,062 Class A ordinary shares pursuant to the underwriters’ exercise of their over-allotment option to purchase additional ADSs. For the year ended December 31, 2020, 430,108 Class B ordinary shares were converted to Class A ordinary shares. On January 29, 2021, the Company issued 1,230,769 Class A ordinary shares to a European asset management company to complete its private placement. On July 29, 2021, the company issued and transferred 2,500,000 Class A ordinary shares to The Bank of New York Mellon, its depositary bank to be issued to employees upon the vesting of restricted share units under the Plans. For the year ended December 31, 2021, 3,002,130 Class A ordinary shares were issued pursuant to the vesting of restricted share units, among which 1,914,630 Class A ordinary shares were settled with shares held by the depositary bank. Therefore, as of December 31, 2021, 585,370 Class A ordinary shares remain available for future issuance. These shares are legally issued but not outstanding for the purpose of accounting and thus are excluded from the basic net loss per share calculation. For the year ended December 31, 2021, 4,855,995 Class B ordinary shares were converted to Class A ordinary shares. On October 26, 2022, the company issued and transferred 876,380 Class A ordinary shares to The Bank of New York Mellon, its depositary bank to be issued to employees upon the vesting of restricted share units under 2015 the Plans. For the year ended December 31, 2022, 2,595,750 Class A ordinary shares were issued pursuant to the vesting of restricted share units, among which 590,750 Class A ordinary shares were settled with shares held by the depositary bank. Therefore, as of December 31, 2022, 871,000 Class A ordinary shares remain available for future issuance. These shares are legally issued but not outstanding for the purpose of accounting and thus are excluded from the basic net loss per share calculation. For the year ended December 31, 2022, 1,110,000 Class B ordinary shares were converted to Class A ordinary shares. As of December 31, 2022, there were 77,309,937 Class A and 39,026,560 Class B ordinary shares outstanding. Additional Paid-in Capital In January 2022, the Company withheld the individual income tax of RMB11,230 for employees’ vested share-based awards and made the cash payment to tax authorities. Concurrently, the company withheld and received equivalent ADSs shares with fair value of RMB11,230 on that day from the employees for clearance of the individual income tax. The amount was debited to additional paid-in capital. As detailed in Note 13, Warrants arising from Private Placement were accounted for as additional paid-in capital. Accumulated Other Comprehensive Income (loss) Foreign currency translation adjustment Unrealized (realized) gains on available- for-sales investments Total RMB RMB RMB Balance as of January 1, 2020 10,195 — 10,195 Other comprehensive (loss) income (9,974 ) 1,729 (8,245 ) Balance as of December 31, 2020 221 1,729 1,950 Other comprehensive loss (6,107 ) (1,729 ) (7,836 ) Balance as of December 31, 2021 (5,886 ) — (5,886 ) Other comprehensive income 20,896 — 20,896 Balance as of December 31, 2022 15,010 — 15,010 Balance as of December 31, 2022 (US$) 2,176 — 2,176 |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Loss Per Share | 20. Loss Per Share The following table sets forth the computation of basic and diluted net loss per share for the following periods: For the year ended December 31, 2020 2021 2022 2022 Class A Class B Class A Class B Class A Class B RMB RMB RMB RMB RMB US$ RMB US$ Numerator: Net loss attributable to EHang Holdings Limited (51,294 ) (36,325 ) (193,772 ) (120,187 ) (214,390 ) (31,083 ) (113,831 ) (16,504 ) Net loss attributable to EHang Holdings Limited’s ordinary shareholders (51,294 ) (36,325 ) (193,772 ) (120,187 ) (214,390 ) (31,083 ) (113,831 ) (16,504 ) Denominator (in thousands of shares): Weighted-average number of ordinary shares outstanding – basic and diluted (in thousands of shares) 64,143 45,420 69,733 43,252 74,917 74,917 39,778 39,778 Loss per share – basic and diluted (0.80 ) (0.80 ) (2.78 ) (2.78 ) (2.86 ) (0.41 ) (2.86 ) (0.41 ) The Company had potential dilutive securities such as unvested RSUs and options granted, and Underlying Shares to be issued under the Private Placement. As the Group incurred losses for the years ended December 31, 2020, 2021 and 2022, these potential ordinary shares were anti-dilutive and excluded from the calculation of diluted net loss per share of the Company. The weighted-average numbers of non-vested RSUs excluded from the calculation of diluted net loss per share of the Company were 989,728, 5,492,295 and 3,782,562 as of December 31, 2020, 2021 and 2022, respectively. |
Restricted Net Assets
Restricted Net Assets | 12 Months Ended |
Dec. 31, 2022 | |
Restricted Net Assets [Abstract] | |
Restricted Net Assets | 21. Restricted Net Assets The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiary and the VIEs. Relevant PRC statutory laws and regulations permit payments of dividends by the Company’s PRC subsidiaries, the VIEs only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries and VIEs. In accordance with the PRC Regulations on Enterprises with Foreign Investment and the articles of association of the Company’s PRC subsidiaries, a foreign-invested enterprise established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A foreign-invested enterprise is required to allocate at least 10% of its annual after-tax after-tax Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory surplus fund at least 10% of its annual after-tax Foreign exchange and other regulations in the PRC may further restrict the Group’s VIEs from transferring funds to the Company in the form of dividends, loans and advances. Amounts restricted include paid-in ) Therefore in accordance with Rules 5-04 and 12-04 of Regulation S-X, the condensed parent company only financial statements as of December 31, 2021 and 2022 and for the years ended December 31, 2020, 2021 and 2022 are disclosed in Note 22. |
Company Financial Statements (P
Company Financial Statements (Parent Company Only) | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Financial Information Disclosure [Abstract] | |
Company Financial Statements (Parent Company Only) | 22. Company Financial Statements (Parent Company Only) The Company performed a test on the restricted net assets of its consolidated subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the Company only. The footnote disclosures contain supplemental information relating to the operations of the Company. The Company did not have significant capital and other commitments, or guarantees as of December 31, 2022 Condensed Balance Sheets As of December 31, 2021 2022 2022 RMB RMB US$ Note 2(e) ASSETS Current assets Cash and cash equivalents 72,998 362 52 Amounts due from a subsidiary — 13,697 1,986 Total current assets 72,998 14,059 2,038 Non-current assets Investments in subsidiaries 290,462 213,579 30,966 Total non-current assets 290,462 213,579 30,966 Total assets 363,460 227,638 33,004 Liabilities Current liabilities Accruals and other liabilities 3,744 27,432 3,977 Amounts due to the subsidiaries the VIEs — 11,230 1,628 Total current liabilities 3,744 38,662 5,605 Non-current liabilities Net interests of the VIEs 27,115 64,718 9,383 Total non-current liabilities 27,115 64,718 9,383 Total liabilities 30,859 103,380 14,988 Shareholders’ equity: Class A Ordinary shares 50 51 8 Class B Ordinary shares 25 24 3 Additional paid-in capital 1,459,374 1,558,356 225,940 Statutory reserves 1,191 1,191 173 Accumulated deficit (1,122,153 ) (1,450,374 ) (210,284 ) Accumulated other comprehensive (loss) income (5,886 ) 15,010 2,176 Total shareholders’ equity 332,601 124,258 18,016 Total liabilities and shareholders’ equity 363,460 227,638 33,004 Condensed Statements of Comprehensive Loss For the Year Ended December 31, 2020 2021 2022 2022 RMB RMB RMB US$ Note 2(e) Operating expenses: General and administrative expenses (1,144 ) (5,668 ) (13,630 ) (1,976 ) Total operating expenses (5,668 ) (13,630 ) (1,976 ) Loss from operations (5,668 ) (13,630 ) (1,976 ) Interest income 463 14 1 — Share of losses from subsidiaries (117,678 ) (299,575 ) (253,575 ) (36,765 ) Income (losses) from the VIEs 30,740 (8,730 ) (37,603 ) (5,452 ) Other expenses — — (23,414 ) (3,394 ) Net loss attributable to the Company’s ordinary shareholders (313,959 ) (328,221 ) (47,587 ) Other comprehensive (loss) income Foreign currency translation adjustment, net of nil tax (9,974 ) (6,107 ) 20,896 3,030 Unrealized gains on available-for-sale debt securities 1,729 (1,729 ) — — Other comprehensive (loss) income, net of tax (8,245 ) (7,836 ) 20,896 3,030 Comprehensive loss attributable to the Company’s ordinary shareholder (321,795 ) (307,325 ) (44,557 ) Condensed Statements of Cash Flows For the Year Ended December 31, 2020 2021 2022 2022 RMB RMB RMB US$ Note (e) Cash flows from operating activities (4,874 ) (13,738 ) (1,992 ) Cash flows from investing activities Capital contribution to Group companies (66,599 ) (190,026 ) (58,898 ) (8,539 ) Other investing activities (484 ) 150 — — Net cash used in investing activities (67,083 ) (189,876 ) (58,898 ) (8,539 ) Cash flows from financing activities Other financing activities (7,343 ) 256,947 — — Net cash (used in) provided by financing activities (7,343 ) 256,947 — — Net (decrease) increase in cash and cash equivalents (75,107 ) 62,197 (72,636 ) (10,531 ) Cash and cash equivalents at beginning of the year 85,908 10,801 72,998 10,583 Cash and cash equivalents at end of the year 72,998 362 52 Basis of presentation Condensed financial information is used for the presentation of the Company, or the parent company. The parent company records its investment in its subsidiary, the VIEs under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures The subsidiaries did not pay any dividends to the Company for the periods presented. The Company does not have significant commitments or long-term obligations as of the period end other than those presented. The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 23. Fair Value Measurements There are no assets measured or disclosed at fair value on a recurring basis as of December 31, 2022. Assets measured or disclosed at fair value on a recurring basis as of December 31, 2021 are summarized below: Fair Value Measurements as of December 31, 2021 using Quoted Price in Active Market for Identical Assets Significant Other Observable Inputs Unobservable Inputs Total (Level 1) (Level 2) (Level 3) fair value RMB RMB RMB RMB Fair value measurement Short-term investments Trading debt investments — 65,108 — 65,108 Total asset measured at fair value — 65,108 — 65,108 The Group values its trading debt investments using the redemption prices provided by the issuing financial institutions that are not market observable inputs, and accordingly the Group classifies the valuation techniques that use these inputs as Level 2. These products have original maturities of one year or less; therefore, the carrying values approximate their fair values. The Group invested in available-for-sale one-year closed-end There were no other assets or liabilities measured at a recurring or non-recurring non-financial |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 24. Commitments and Contingencies (a) Capital Commitments The Group and a third-party investor entered into an investment agreement to establish an investee with a certain payment schedule (Note 10). The following table sets forth our contractual obligations as of December 31, 2022. RMB US$ 2023 1,750 254 2024 1,750 254 Total 3,500 508 (b) Contingencies The Group is subject to legal and regulatory actions that arise from time to time. The assessment as to whether a loss is probable or reasonably possible, and as to whether such loss or a range of such loss is estimable, often involves significant judgment about future events, and the outcome of litigation is inherently uncertain. Save as disclosed in Note 11(a) and below, the Group is currently not in any legal or administrative proceedings that may have a material adverse impact on the financial position, results of operations or cash flows of the Group. (i) Shareholder securities litigation Between February 17 and 26, 2021, three federal securities class action lawsuits (captioned Amberber v. EHang Holdings Limited, et al., Case No. 1:21-cv-01392-GBD (S.D.N.Y., filed Feb. 17, 2021), Chaumont v. EHang Holdings Limited, et al., Case No. 1:21-cv-01526-GBD (S.D.N.Y., filed Feb. 19, 2021), and Klein v. EHang Holdings Limited, et al., Case No. 2:21-cv-01811-JFW-PVC (C.D. Cal., filed Feb. 26, 2021)) were filed by purported holders of the Company ADSs in federal court. The complaints asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and generally allege that the company and certain of the Group’s officers made false and misleading statements regarding the status of its urban air mobility business, its international and domestic regulatory approvals, its relationships with major customers, and its manufacturing facilities. The complaints name as defendants the Company and certain of its officers. In addition to costs and attorneys’ fees, the complaints seek compensatory and punitive damages. The Group vigorously defended against them. These lawsuits were consolidated into a single class action lawsuit under the caption In re EHang Holdings Ltd. Securities Litigation 1.21-CV-01392-GBD-GWG (S.D.N.Y., filed Feb. 19, 2021), and a lead plaintiff and lead counsel were selected in February 2022. The lead plaintiff filed an amended complaint on April 25, 2022, making similar allegations as those in the previous complaints. Defendants filed a motion to dismiss the amended complaint in June 2022. The lead plaintiff filed an opposition to the defendants’ motion to dismiss in August 2022. The defendants filed a reply in support of their motion to dismiss in September 2022. In October 2022, the Court held oral argument on defendants’ motion to dismiss. The Court granted the defendants’ motion to dismiss the amended complaint on December 15, 2022, and entered final judgment dismissing the action in its entirety with prejudice on January 24, 2023. Lead plaintiff did not appeal the final judgment and on February 23, 2023, lead plaintiff’s deadline to appeal expired. (ii) Former employee litigation A former employee of the Company’s former U.S. subsidiary, EHang, Inc., filed a civil lawsuit against the Company, EHang GZ and certain individual defendants, including Mr. Huazhi Hu, chairman and chief executive officer of the Company, in the United States District Court for the Northern District of California. The plaintiff alleged that he was entitled to receive restricted share units from the Company. Following a trial by jury in April 2022, the Court entered judgment for the Plaintiff and against the Company, EHang GZ and Mr. Huazhi Hu as follows: (i) Judgment is entered against the Company on claims for breach of contract, false promise and unpaid wages, and the Company is held jointly and severally liable for compensatory damages in the amount of US$ and is liable for punitive damages in the amount of US$ ; (ii) Judgment is entered against EHang GZ on claims for breach of contract, false promise and unpaid wages, and Ehang GZ is held jointly and severally liable for compensatory damages in the amount of US$ ; and (iii) Judgment is entered against Mr. Huazhi Hu on claims for false promise and unpaid wages, and Mr. Huazhi Hu is held jointly and severally liable for compensatory damages in the amount of US$ and is liable for punitive damages in the amount of US$ . The Company then filed a motion for new trial challenging the finding of false promise, the amount of the compensatory damage award, and the amount of the punitive damage award. The judge granted the motion as to the false promise claim and set aside the verdict on that cause of action against The Company and Mr. Huazhi Hu, and because the false promise claim was the only claim that could give rise to punitive damages, the court set aside the punitive damage award and ordered a new trial on the false promise claim. The court denied the motion as to the compensatory damage award. Following the motion for new trial, the parties have been engaged in settlement discussions. On April 25, 2023, the parties entered into a settlement agreement involving a total payment to the former employee of US$ 3,375 in four equal quarterly installments within one year. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent events | 25. Subsequent Events (a) As detailed in Note 13, the Private Placement will be closed on the condition that the investor obtains the ODI approval. In March and April 2023, the investor obtained the ODI approval and the Company issued the Underlying shares to the Investor, repaid RMB69,861 to the investor and received the total consideration of US$10,000. (b) The Group, via Ehang GZ, held 60 60 40 4,000 60 100 interest |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation | (a) Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”) to reflect the financial position, results of operations and cash flows of the Group. Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below. |
Principles of consolidation | (b) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries and the VIEs, for which the Company is the ultimate primary beneficiary. All significant inter-company transactions and balances between the Company, its subsidiaries, and the VIEs have been eliminated upon consolidation. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power: has the power to appoint or remove the majority of the members of the board of directors (the “Board”): to cast majority of votes at the meeting of the Board or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIE’s economic performance, and also the Company’s obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. |
Use of estimates | (c) Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and revenues and expenses during the reporting periods in the consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in the Group’s consolidated financial statements include, but not limited to expected total costs of command-and-control |
Foreign currency | (d) Foreign currency The functional currency of the Company, Ehfly, and EHANG Investment (HK) Limited (“EHang HK”) is the United States dollar (“US$”). The functional currency of EHang Holding GmbH (“EHang GmbH”), EHANG TECHNOLOGIES SPAIN & LATAM, S.L. (“EHang Spain”) and Ehang EUROPE SAS (“EHang France”) is the euro (“€”). The functional currency of the Company’s PRC subsidiaries and the VIEs is the Renminbi (“RMB”). The Group uses the RMB as its reporting currency. The determination of the respective functional currency is based on the criteria set out by ASC 830, Foreign Currency Matters Transactions denominated in foreign currencies are re-measured re-measured Non-monetary re-measured The financial statements of the Group’ entities of which the functional currency is not RMB use the periodic average exchange rates and the exchange rate at the balance sheet date to translate the operating results and financial position, respectively. Translation differences are recorded in accumulated other comprehensive income (loss), a component of shareholders’ (deficit) equity. |
Convenience translation | (e) Convenience translation Amounts in US$ are presented for the convenience of the reader and are translated at the noon buying rate of US$1.00 to RMB6.8972 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts represent or could have been, or could be, converted, realized or settled into US$ at that rate on December 30, 2022, or any other rate. |
Cash and cash equivalents | (f) Cash and cash equivalents Cash and cash equivalents consist of cash on hand, deposits and highly liquid investments placed with bank and other financial institutions, which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased. |
Restricted cash | (g) Restricted cash As of December 31, 2021, restricted cash amounting to RMB160 mainly represents cash frozen by People’s Court of Nansha District in Guangzhou city in request by a third-party plaintiff regarding a lawsuit against one of the Group’s subsidiaries. The lawsuit has come to a sentence and the Company has fulfilled its obligation. The Company filed a request with the court to release the judicial freeze on the Group’s cash which had been released in January 2022. As of December 31, 2022, there was no restricted cash in the Group. |
Short-term investments | (h) Short-term investments All highly liquid investments with original maturities of greater than three months but less than twelve months, are classified as short-term investments. Investments that are expected to be realized in cash during the next twelve months are also included in short-term investments. As of December 31, 2021, the Group’s short-term investments comprised of debt instruments issued by international financial institutions (Note 4). The Group accounts for short-term investments in accordance with ASC 320 (“ASC 320”), Investments—Debt and Equity Securities “held-to-maturity,” “available-for-sale,” held-to-maturity held-to-maturity available-for-sale, |
Accounts receivable and allowance for doubtful accounts | (i) Accounts receivable and allowance for doubtful accounts Accounts receivable receivable |
Loans receivable and allowance for credit loss | (j) Loans receivable and allowance for credit loss The long-term loans receivable represents the loans to third parties (Note 9). Such amount is recorded at the principal net of allowance for credit loss, if any, and includes accrued interest receivable as of the balance sheet date. The Group reviews and monitors the credit worthiness of the third parties. An allowance for credit loss is recorded in the period in which a loss is determined to be probable and the amount of the loss can be reasonably estimated. RMB1,704 (US$247) of allowance for credit losses were incurred for the year ended December 31, 2022. |
Cost and estimated earnings in excess of billings | (k) Cost and estimated earnings in excess of billings Design and construction of customized command-and-control cost-to-cost command-and-control one-year command-and-control Revenue in excess of billings on the contracts is recorded as costs and estimated earnings in excess of billings. Billings in excess of revenues recognized on the contracts are recorded as deferred income until the above revenue recognition criteria are met. The carrying value of the Group’s costs and estimated earnings in excess of billings, net of the allowance for doubtful accounts, represents their estimated net realizable value. The Group recognizes an allowance for doubtful accounts on costs and estimated earnings in excess of billings when it is probable that it will not collect the amount and writes off any balances in the period when deemed uncollectible. The Group periodically reviews the status of contracts and decides how much of an allowance for doubtful accounts should be made based on factors surrounding the credit risk of customers and historical experience. The Group does not require collateral from its customers and does not charge interest for late payments by its customers. As of December 31, 2021, the decrease in cost and estimated earnings in excess of billings was in accordance with the achievement of milestones in the pre-determined command-and-control |
Inventories | (l) Inventories Inventories are comprised of raw materials, work in progress and finished goods. The Group’s raw materials consist of accessories and hardware parts used to produce autonomous aerial vehicles and hardware for building the command-and-control ) |
Property and equipment, net | (m) Property Plant and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated useful life Residual value Mold and tooling 2-5 years 0 % Office equipment 5 years 5 % Machinery and electronic equipment 3-10 years 5 % Transportation equipment 4 years 5 % Leasehold improvements Shorter of lease term or the estimated useful lives of the assets 0 % Repair and maintenance costs are charged to expense as incurred, whereas the costs of renewals and betterments that extend the useful lives of property and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of comprehensive loss. The loss on the disposal of property and equipment amounting to were recognized in other expenses for the years ended December 31, 2020 and 2021. The gain on the disposal of property and equipment amounting to RMB ) was recognized in other income for the year ended December 31, 2022. Direct costs that are related to the construction of property and equipment and incurred in connection with bringing the assets to their intended use are capitalized as construction-in-progress. Construction-in-progress |
Intangible assets, net | (n) Intangible assets, net Intangible assets consist of software, patents and trademarks. Intangible assets with finite lives, including software, patents and trademarks are carried at acquisition cost less accumulated amortization and impairment, if any. Finite lived intangible assets are tested for impairment if impairment indicators arise. Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below: Category Estimated useful life Software 3-5 Patents and trademarks 5 years The estimated useful lives of intangible assets with finite lives are reassessed if circumstances occur that indicate the original estimated useful lives have changed. There are no intangible assets with indefinite lives for the years ended December 31, 2020, 2021 and 2022. |
Impairment of long-lived assets other than goodwill | (o) Impairment of long-lived assets other than goodwill The Group evaluates its long-lived assets or asset group, including intangible assets with finite lives, for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset or a group of long-lived assets may not be recoverable. When these events occur, the Group evaluates for impairment by comparing the carrying amount of the assets to future undiscounted net cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss based on the excess of the carrying amount of the asset group over its fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the long-lived assets or asset group, when the market prices are not readily available. Nil, RMB1,627 and nil impairment of long-lived assets were recognized for the years ended December 31, 2020, 2021 and 2022, respectively. |
Long-term investments | (p) Long-term investments The Group’s long-term investments consist of an equity investment without readily determinable fair value and an equity investment accounted for using the equity method. Equity Investments without Readily Determinable Fair Values According to ASC 321, the Group elected to use the measurement alternative to measure the investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. The Group’s management regularly evaluates the impairment of its investments based on the performance and financial position of the investee as well as other evidence of estimated market values. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financing, projected and historical financial performance, cash flow forecasts and current and future financing needs. An impairment loss is recognized in the consolidated statements of comprehensive loss equal to the excess of the investment’s cost over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value would then become the new cost basis of the investment. Equity Investments Accounted for Using the Equity Method Investments in equity investees represent investments in entities in which the Group can exercise significant influence but does not own a majority equity interest or control are accounted for using the equity method of accounting in accordance with ASC 323-10, Investments-Equity Method and Joint Ventures: Overall 323-10”). 323-10. |
Fair value measurements of financial instruments | (q) Fair value measurements of financial instruments The Group applies ASC 820 (“ASC 820”), Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach; and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters. The Group’s financial instruments primarily consist of cash and cash equivalents, restricted cash, short-term investments, loans receivable, accounts receivable and payable, other current assets, bank loans, short-term debt, accrued expenses and other liabilities and mandatorily redeemable non-controlling non-controlling As of December 31, 2021, Financial assets that are measured at fair value on a recurring basis consist of a debt investment, which was classified within Level II of the fair value hierarchy because the quoted market price of underlying asset is not fully observable. As of December 31, 2022, the Group had no financial assets that are measured at fair value. |
Revenue recognition | (r) Revenue recognition The Group’s revenues are primarily derived from the sale of Autonomous Aerial Vehicles (“AAVs”) and related commercial solutions, mainly including air mobility solutions, smart city management solutions, and aerial media solutions. The Group enters into legally enforceable and binding agreements with its customers with fixed terms and conditions, including pricing. The Group recognizes revenue at the amount to which it expects to be entitled when control of the products or services are transferred to its customers. Revenues are presented net of taxes collected on behalf of the government. When either party to a contract has performed, the Group presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the Group’s right to consideration in exchange for goods and services that the Group has transferred to a customer when the consideration is conditioned other than the passage of time, which is recorded as unbilled revenue. A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. If a customer pays consideration or the Group has a right to an amount of consideration that is unconditional, before the Group transfers a good or service to the customer, the Group presents the contract liability when the payment is made or a receivable is recorded (whichever is earlier). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. The Group’s contract liabilities primarily result from the advance received of sales of AAVs and related commercial solutions, which are recognized as revenue based on the consumption of the services or the delivery of the goods. The Group generally does not separately bill its customers for shipping and handling fees and charges. The Group elects to record the costs incurred for shipping and handling in “sales and marketing expenses” in its consolidated statements of comprehensive loss. The shipping and handling costs for the years ended December 31, 2020, 2021 and 2022 were RMB1,409, RMB1,067 and RMB848 (US$123 ) Practical Expedients The transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied, has not been disclosed as substantially all of the Group contracts have a duration of one year or less. Air mobility solutions Revenues from air mobility solutions are primarily product revenues from the sales of passenger-grade AAVs based on firm customer orders with fixed terms and conditions, including pricing, net of discounts, if any. The performance obligation under the contract is the delivery of passenger-grade AAVs, which is satisfied at a point in time, in general upon the Group’s receipt of acknowledgement receipts from customers or under some circumstances upon the products have been shipped to the contractually agreed location when the products are sold to customers outside PRC. The Group only provides the right of return for defective goods in connection with its warranty policy which is accounted for as an assurance-type warranty (Note 11). For the extended warranty beyond the standard policy, the Group considers it provides a level of protection beyond defects that existed at the time and accounts it as a separate performance obligation. The Group also sells software components of the passenger-grade AAVs. As the hardware and software components are highly interdependent, the entire bundle of promised goods is considered one performance obligation within the context of the contract. The single performance obligation is satisfied at a point in time, which is upon customer acceptance of the products. Service revenues from air mobility solutions are primarily provision of logistics services which are satisfied over time. Smart city management solutions The Group enters into contracts with its customers for designing, building and delivering customized integrated command-and-control command-and-control cost-to-cost command-and-control command-and-control The Group reviews and updates the estimated total costs of command-and-control command-and-control Contract modifications, defined as changes in the scope or price (or both) of a contract that are approved by the parties to the contract, such as a contract amendment, exist when the parties to a contract approve a modification that either creates new or changes existing enforceable rights and obligations of the parties to the contract. Contract modifications, if any, will be accounting for as one of the following: (i) a separate contract; (ii) a termination of the existing contract and a creation of a new contract; or (iii) a combination of the preceding treatments. A contract modification is accounted for as a separate contract if the scope of the contract increases because of the addition of promised goods or services that are distinct and the price of the contract increases by an amount of consideration that reflects the Group’s standalone selling prices of the additional promised goods or services. When a contract modification is not considered a separate contract and the remaining goods or services are distinct from the goods or services transferred on or before the date of the contract modification, the Group accounts for the contract modification as a termination of the existing contract and a creation of a new contract. When a contract modification is not considered a separate contract and the remaining goods or services are not distinct, the Group accounts for the contract modification as an add-on catch-up Aerial media solutions The Group generates revenue by providing aerial media performance services and related products. Aerial media performance services allow multiple smart control-based drones to demonstrate and transform their formation to display diversified messages and images in specific airspace, that is tailor made based on different branding or advertising requirements. The Group uses self-produced drones and customizes the fleet formation performances based on customer’s needs and availability of airspace approval in the area. The performance is usually completed within a day and revenue is recognized when the service is delivered. The Group also sells hardware and software components of the aerial media performance drones. As the hardware and software components are highly interdependent, the entire bundle of promised goods is considered one performance obligation within the context of the contract. The single performance obligation is satisfied at a point in time, which is upon customer acceptance of the products. Others The Group generates other revenues mainly from stand-alone sales of consumer drones and their components and spare parts. Revenues are recognized when the consumer drones are shipped and the control of the drones are transferred to the customers. The Group started to phase out the consumer drone business in late 2016. |
Cost of revenue | (s) Cost of revenue Cost of revenue consists primarily of autonomous aerial vehicle material and manufacturing costs, construction costs of smart city management solutions, product warranty costs, provision for inventories, payroll, employee benefits, rental fees, depreciation and related costs of operations. |
Product warranty liability | (t) Product warranty liability The Group offers standard warranties to replace or repair defects on certain hardware parts of its passenger-grade AAVs for a period of six months to three years. The Group does not provide warranties to guarantee that the AAVs will perform as expected or in accordance with published specifications or provide expected benefits. The Group also provides a standard warranty for hardware and software for the command-and-control de-bugging Product warranty accrual is included in accrued expenses and other current liabilities (Note 11) and other non-current liabilities in the accompanying consolidated balance sheets. |
Advertising expenditures | (u) Advertising expenditures Advertising expenditures are expensed as incurred and are included in sales and marketing expenses, which amounted to RMB1,965, RMB2,114 and RMB2,945 (US$427 ) |
General and administrative expenses | (v) General and administrative expenses General and administrative expenses consist primarily of payroll, employee benefits, share-based compensation, legal and other professional services fees, long-lived assets impairment, allowance for doubtful accounts |
Research and development expenses | (w) Research and development expenses Research and development expenses include materials and supplies, payroll, employee benefits, share-based compensation and other operating expenses such as rent, depreciation and other related expenses. The Group capitalizes costs to develop or obtain internal-use internal-use 350-40 350-40”), Internal-Use internal-use The Group also incurs cost to develop software embedded in its products. The software components cannot function or be sold separately from the AAV as a whole. The Group accounts for costs incurred in the development of software embedded in its products in accordance with ASC 985-20 985-20”), Costs of Software to be Sold, Leased, or Marketed |
Leases | (x) Leases The Group leases facilities under non-cancellable No.2016-02 (Topic Based on the portfolio of leases as of December 31, 2021, a right-of-use The Group has elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at commencement date of the lease and do not include options to purchase or renew that the Group is reasonably certain to exercise. The Group accounts for short-term leases with terms less than 12 months in accordance with ASC 842-20-25-2 Operating leases are included in right-of-use non-current The Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to carry forward the historical determination of contracts as leases, lease classification and not reassess initial direct costs for historical lease arrangements. In addition, the Group also elected the practical expedient to apply consistently to all of the Group’s leases to use hindsight in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Group’s right-of-use assets. The Group has lease agreements with lease and non-lease components, and has elected to utilize the practical expedient to account for the non-lease components together with the associated lease component as a single combined lease component. As most of the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The incremental borrowing rate is a hypothetical rate based on the Group’s understanding of what its credit rating would be to borrow and resulting interest the Group would pay to borrow an amount equal to the lease payments in a similar economic environment over the lease term on a collateralized basis. (i) Right-of-use Right-of-use right-of-use (ii) Lease liabilities Lease liabilities are lessees’ obligations to make the lease payments arising from a lease, measured on a discounted basis. As a lessee, the weighted average remaining lease terms of the right-of-use For the year ended December 31, 2022, operating lease cost and short-term lease cost were RMB13,986 (US$2,028 ) l ) A maturity analysis of the Company’s operating lease liabilities and reconciliation of the undiscounted cash flows to the operating lease liabilities recognized on the consolidated balance sheet was as below: Office and production RMB US$ 2023 5,632 817 2024 4,290 622 2025 4,982 721 2026 6,448 935 2027 6,817 988 2028 and thereafter 88,136 12,779 Minimum lease payments 116,305 16,862 Less: imputed interest (40,872 ) (5,926 ) Present value of lease liabilities 75,433 10,936 Less: Current portion (5,520 ) (800 ) Non-current portion of lease liabilities 69,913 10,136 As of December 31, 2021, future minimum lease payments under non-cancellable operating leases with initial terms in excess of one year consisted of the following: Office and production facilities rental RMB 2022 11,530 2023 5,926 2024 791 2025 1,252 2026 2,635 2027 and thereafter 4,612 Total 26,746 For the years ended December 31, 2020 and 2021, the Group recognized operating lease expenses for all operating leases of RMB9,019 and RMB10,460, respectively, under ASC 840. |
Government subsidies | (y) Government subsidies Government subsidies primarily consist of financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments. There are no defined rules and regulations to govern the criteria necessary for companies to receive such benefits, and the amount of financial subsidy is determined at the discretion of the relevant government authorities. The government subsidies of operating nature with no further conditions to be met are recorded in “other operating income” when received. The government subsidies with certain operating conditions are recorded as “deferred government subsidies” on the consolidated balance sheets when received and are recorded as operating income when the conditions are met. On January 1, 2022, the Group adopted ASU No. 2021-10, Government Assistance (Topic 832). This ASU requires business entities to disclose information about government assistance they receive if the transactions were accounted for by analogy to either a grant or a contribution accounting model. The disclosure requirements include the nature of the transaction and the related accounting policy used, the line items on the balance sheets and statements of operations that are affected and the amounts applicable to each financial statement line item and the significant terms and conditions of the transactions. The disclosure requirements can be applied either retrospectively or prospectively to all transactions in the scope of the standard that are reflected in the financial statements at the date of initial application and new transactions that are entered into after the date of initial application. The adoption of the standard did not have a material impact on the Group’s consolidated balance sheets and the consolidated statements of comprehensive loss. |
Income taxes | (z) Income taxes The Group follows the liability method of accounting for income taxes in accordance with ASC 740 (‘‘ASC 740’’), Income Taxes more-likely-than-not The Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties arising from underpayment of income taxes shall be computed in accordance with the related PRC tax law. The amount of interest expense is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest and penalties recognized in accordance with ASC 740 are classified in the consolidated statements of comprehensive loss as income tax expense. |
Share-based compensation | (aa) Share-based compensation The Group applies ASC 718 (‘‘ASC 718’’), Compensation—Stock Compensation The Group has elected to recognize compensation expense using the straight-line method for share-based awards granted with service conditions that have a graded vesting schedule. Prior to the completion of the IPO, with the assistance of an independent third-party valuation firm, the group determined the grant date fair value of the awards granted to employees. Subsequent to the completion of the IPO, share-based awards granted were measured based on the fair value of ordinary share as of grant date. The Group accounts for forfeitures as they occur. A change in any of the terms or conditions of share-based payment awards is accounted for as a modification of awards. The Group measures the incremental compensation cost of a modification as the excess of the fair value of the modified awards over the fair value of the original awards immediately before its terms are modified, based on the share price and other pertinent factors at the modification date. For vested awards, the Group recognizes incremental compensation cost in the period the modification occurred. For unvested awards, the Company recognizes, over the remaining requisite service period, the sum of the incremental compensation cost and the remaining unrecognized compensation cost for the original award on the modification date. If the fair value of the modified award is lower than the fair value of the original award immediately before modification, the minimum compensation cost the Group recognizes is the cost of the original award. The Group doesn’t reflect reload features and contingent features in the grant-date fair value of an equity award. Reload features and contingent features are that require a grantee to transfer equity shares earned, or realized gains from the sale of equity instruments earned, to the issuing entity for consideration that is less than fair value on the date of transfer (including no consideration), such as a claw back feature. The Group accounted for these features if and when the contingent event occurs by recognizing the consideration received in the corresponding balance sheet account and a credit in the income statement equal to the lesser of the recognized compensation cost of the share-based payment arrangement that contains the contingent feature and the fair value of the consideration received, and debits in additional paid-in capital, and treasury shares, if any. |
Employee benefit expenses | (ab) Employee benefit expenses Full time employees of the Group in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund, maternity insurance and employment injury insurance are provided to employees. Chinese labor regulations require that PRC subsidiaries and VIEs of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The Group has no legal obligation for the benefits beyond the contributions. The total expenses the Group incurred for the plan were RMB4,022, RMB10,262 and RMB12,361 (US$1,792 ) |
Statutory reserve | (ac) Statutory reserve The Group’s PRC entities are required to make appropriations to certain non-distributable In accordance with the laws applicable to China’s Foreign Investment Enterprises, the Group’s subsidiaries registered as WFOEs have to make appropriations from its after-tax after-tax In addition, in accordance with the Company Laws of the PRC, the Group’s entities registered as PRC domestic companies must make appropriations from its after-tax non-distributable after-tax The use of the general reserve fund, statutory surplus fund and discretionary surplus fund are restricted to the off-setting For the year ended December 31, 2020, 2021 and 2022, appropriations to general reserve fund and statutory surplus fund amounted to nil, RMB156 and nil respectively. |
Comprehensive income (loss) | (ad) Comprehensive income (loss) Comprehensive income (loss) is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220, Comprehensive Income available-for-sale |
Dividends | (ae) Dividends Dividends are recognized when declared. No dividends were declared for the years ended December 31, 2020, 2021 and 2022, respectively. |
Loss per share | (af) Loss per share In accordance with ASC 260 (“ASC 260”), Earnings per Share two-class two-class For the years ended December 31, 2020, 2021 and 2022, the two-class Ordinary equivalent shares consist of unvested restricted shares units, and ordinary shares issuable upon the exercise of outstanding share options (using the treasury stock method). Ordinary equivalent shares are excluded from the computation of diluted loss per share for all periods presented as their effects would be anti-dilutive. |
Short-term debt | (ag) Short-term debt In December 2022, the Group entered into a share purchase agreement (the “SPA”) with an investor (the “Investor”) to issue predetermined number of Class A ordinary shares (the “Underlying Shares”) of the Company, at a fixed consideration in US$ (the “Private Placement”), upon meeting the specified preconditions, of which the substantial one is the Investor obtaining the Outbound Direct Investment(“ODI”) approval. In December 2022, a transitional agreement has been reached to supplement the Private Placement (the “Supplemental Agreement”), according to which before the ODI approval, the Investor provided RMB proceeds (the “RMB Proceeds”) as an interim funding, equivalent to consideration in U.S. dollar of the Private Placement, to the designated subsidiary of the Company. The RMB Proceeds and associated subsequent repayment obligation was accounted for as a liability to the Company, since: (i) The RMB Proceeds are a loan provided by the Investor to the subsidiary of the Company under the Supplemental Agreement. The Investor is entitled to receive the money back after at least three months if the ODI approval is not obtained due to force majeure or other situations agreed by the Company and Investor. (ii) It is within the Investor’s control that it can stop pursuing the ODI approval, and therefore it can make the repayment obligation to happen. (iii) Upon the occurrence of dissolution, windup or liquidation of the onshore subsidiary, the Investor could claim its creditor right in accordance with PRC bankruptcy law. Therefore the instrument is accounted for as a short-term debt under ASC 470, Debt |
Warrants | (ah) Warrants According to the SPA, the Company issued a purchase right to the Investor under which the Company will issue predetermined ordinary shares for a fixed cash consideration at a future date (the “Warrants”). The Warrants were accounted for as equity instruments to the Company, since: i) The Warrants were indexed to the Company’s own stock, since: • The Warrants will be exercised upon the ODI approval, which is not based on an observable market, or an observable index. • The exercise price is fixed by the SPA and Supplement Agreement, and the number of Underlying Shares to be issued is also fixed divided by the fixed purchase price per share. ii) The Warrants were classified in shareholders’ equity, since: • The Warrants will be settled only by gross physical delivery of ordinary shares by the Company. • The Company has the ability to settle the Private Placement in ordinary shares. • The number of Underlying Shares to be issued is explicitly fixed at the total consideration divided by the fixed purchase price per share, with no adjustment provision. • No requirement for cash settlement in the agreements. • There are no cash settled top-off The Group received the Proceeds and issued short-term debt and Warrants in a bundled transaction in 2022. The RMB Proceeds shall be allocated to the two elements based on the relative fair values of the debt instrument without the Warrants and of the Warrants themselves at time of issuance. The portion of the RMB Proceeds so allocated to the Warrants shall be accounted for as additional paid-in On January 1, 2022, The Group has elected to early adopt the ASU No. 2020-06, Debt— Debt with Conversion and Other Options Derivatives and Hedging—Contracts in Entity’s Own Equity Accounting for Convertible Instruments and Contracts in an Entity ’ s Own Equity |
Segment reporting | (ai) Segment reporting In accordance with ASC 280 (“ASC 280”), Segment Reporting The following table presents revenue by customer incorporation location for the years ended December 31, 2020, 2021 and 2022, respectively: For the year ended December 31, 2020 2021 2022 RMB % RMB % RMB US$ % PRC 164,153 91 % 49,683 87 % 33,975 4,926 77 % West Asia 2,124 1 % — — 4,630 671 10 % Europe 2,388 1 % 2,199 4 % 2,638 382 6 % East Asia 4,550 3 % 4,404 8 % 798 116 2 % Other 6,878 4 % 521 1 % 2,276 330 5 % Total net revenues 180,093 100 % 56,807 100 % 44,317 6,425 100 % |
Development and purchase cooperative arrangement | (aj) Development and purchase cooperative arrangement In April 2016, the Group entered into a development and purchase cooperative arrangement with a U.S. biotechnology company (“Biotech Customer”) to design, develop, test-run e-helicopter As part of the same arrangement, the Group may sell 1,000 units of customized AAVs with the organ transport e-helicopter 15-year |
Recent accounting pronouncements | (ak) Recent accounting pronouncements The Company is an emerging growth company (“EGC”) as defined by the Jumpstart Our Business Startups Act (“JOBS Act”). The JOBS Act provides that an EGC can take advantage of an extended transition period for complying with new or revised accounting standards. This allows an EGC to delay adoption of certain accounting standards until those standards would otherwise apply to private companies. The Group elected to take advantage of the extended transition period. However, this election will not apply should the Group cease to meet the definition of an EGC. In June 2016, the FASB issued ASU 2016-13 2016-13”), Financial Instruments — Credit Losses 2016-13 available-for-sale 2019-10, 2016-13 2020-02, Financial Instruments—Credit Losses Leases No. 2016-02, Leases Credit Losses In October 2021, the FASB issued ASU No. 2021-08, Business Combinations Accounting for Contract Assets and Contract Liabilities from Contracts with Customers 2021-08), Revenue from Contracts with Customers 2021-08 In March 2022, the FASB issued ASU 2022-02, Troubled Debt Restructurings and Vintage Disclosures. This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted ASU 2016-13, Measurement of Credit Losses on Financial Instruments, which the Company will adopt on January 1, 2023. This ASU also enhances the disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the ASU amends the guidance on vintage disclosures to require entities to disclose current period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326-20. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU would be applied prospectively. Early adoption is also permitted, including adoption in an interim period. The Group will adopt this update on January 1, 2023 and does not expect the adoption to have a material impact to the Group’s consolidated financial statements. |
Organization and Nature of Op_2
Organization and Nature of Operations (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Major Subsidiaries, VIE and Subsidiaries of VIE | As of December 31, 2022, the Company’s major subsidiaries, VIE and the subsidiaries of the VIE (“VIEs”, refer to VIE and its subsidiaries as a whole, where appropriate) are as follows: Entities Subsidiaries: Date of establishment Place of establishment Percentage of direct or indirect ownership Principal activities Direct Indirect Ehfly Technology Limited (“Ehfly”) December 5, 2014 Hong Kong 100 % — Product sales EHang Intelligent Equipment (Guangzhou) Co., Ltd. (“EHang Intelligent” or the “WFOE”) October 15, 2015 PRC 100 % — Research and Yunfu EHang Intelligent Technology Limited (“EHang Yunfu”) June 15, 2020 PRC 68.5 % — Research and Variable Interest Entity Guangzhou EHang Intelligent Technology Co., Ltd. (“EHang GZ” or the “VIE”) August 8, 2014 PRC — 100 % Research and Entities VIE’s Subsidiaries Date of incorporation establishment Place of incorporation establishment Percentage of direct or indirect ownership Principal activities Direct Indirect Guangdong EHang General Aviation Co., Ltd. (“EHang Aviation”) March 11, 2021 PRC — 100 %(a) Operational flight services (a) EHang GZ and EHang Intelligent hold 51% and 49% equity interests in EHang Aviation, respectively. |
Summary of Financial Statement Balances and Amounts of the Group's VIE and the VIE's Subsidiaries | The following financial statement balances and amounts of the Group’s VIEs were included in the accompanying consolidated financial statements: As of December 31, 2021 2022 RMB RMB US$ ASSETS Cash and cash equivalents 8,014 11,404 1,653 Accounts receivable, net 10,959 202 29 Inventories 839 837 121 Prepayments and other current assets 4,302 3,653 530 Amounts due from the Company and its subsidiaries 25,774 6,911 1,002 Property 2,032 1,273 185 Right-of-use assets, net — 799 116 Intangible assets, net 77 229 33 Other non-current 97 39 6 Total assets 52,094 25,347 3,675 LIABILITIES Accounts payable 3,025 3,100 449 Contract liabilities 1,677 2,027 294 Current portion of long-term bank loans 1,000 5,154 747 Accrued expenses and current liabilities 18,053 19,712 2,858 Amounts due to the Company and its subsidiaries 45,991 55,451 8,040 Long-term bank loans 9,000 3,846 558 Unrecognized tax benefit 588 588 85 Lease liabilities — 800 116 Total liabilities 79,334 90,678 13,147 For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Revenues 68,372 28,399 10,147 1,471 - Third-party revenue 35,280 230 6 1 - Inter-company revenue 33,092 28,169 10,141 1,470 Net profit (loss) 25,755 (8,534 ) (38,091 ) (5,523 ) Net cash (used in) provided by operating activities (5,118 ) (3,482 ) 4,627 671 Net cash used in investing activities (107 ) (878 ) (237 ) (34 ) Net cash provided by (used in) financing activities — 5,000 (1,000 ) (145 ) Net (decrease) increase in cash, cash equivalents and restricted cash (5,225 ) 640 3,390 492 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Estimated Useful Lives and Residual Value of Property and Equipment | Plant and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows: Category Estimated useful life Residual value Mold and tooling 2-5 years 0 % Office equipment 5 years 5 % Machinery and electronic equipment 3-10 years 5 % Transportation equipment 4 years 5 % Leasehold improvements Shorter of lease term or the estimated useful lives of the assets 0 % |
Summary of Amortization of Intangible Assets with Finite Lives | Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below: Category Estimated useful life Software 3-5 Patents and trademarks 5 years |
Summary of Revenue by Customer Incorporation Location | The following table presents revenue by customer incorporation location for the years ended December 31, 2020, 2021 and 2022, respectively: For the year ended December 31, 2020 2021 2022 RMB % RMB % RMB US$ % PRC 164,153 91 % 49,683 87 % 33,975 4,926 77 % West Asia 2,124 1 % — — 4,630 671 10 % Europe 2,388 1 % 2,199 4 % 2,638 382 6 % East Asia 4,550 3 % 4,404 8 % 798 116 2 % Other 6,878 4 % 521 1 % 2,276 330 5 % Total net revenues 180,093 100 % 56,807 100 % 44,317 6,425 100 % |
Summary of Operating Lease Liabilities | A maturity analysis of the Company’s operating lease liabilities and reconciliation of the undiscounted cash flows to the operating lease liabilities recognized on the consolidated balance sheet was as below: Office and production RMB US$ 2023 5,632 817 2024 4,290 622 2025 4,982 721 2026 6,448 935 2027 6,817 988 2028 and thereafter 88,136 12,779 Minimum lease payments 116,305 16,862 Less: imputed interest (40,872 ) (5,926 ) Present value of lease liabilities 75,433 10,936 Less: Current portion (5,520 ) (800 ) Non-current portion of lease liabilities 69,913 10,136 |
Summary of Future Minimum Lease Payments | As of December 31, 2021, future minimum lease payments under non-cancellable operating leases with initial terms in excess of one year consisted of the following: Office and production facilities rental RMB 2022 11,530 2023 5,926 2024 791 2025 1,252 2026 2,635 2027 and thereafter 4,612 Total 26,746 |
Concentration of Risks (Tables
Concentration of Risks (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Customer Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
Summary of External Customers with 10% or More of Group's Revenues | External customers with 10% or more of the Group’s revenues are: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Customer A 22,655 * * * B 92,331 * * * C 24,071 7,080 * * D * 19,646 * * E * * 9,217 1,336 F * * 5,611 814 G * * 4,630 671 |
Supplier Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
Summary of External Customers with 10% or More of Group's Revenues | Suppliers accounting for 10% or more of total purchases of materials were: As of December 31, 2021 2022 RMB RMB US$ Supplier A 7,807 3,056 443 B 8,405 * * C 7,596 * * |
Short-term Investments (Tables)
Short-term Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Summary of Short Term Investments | Short-term investments as of December 31, 2021 consisted of the following: As of December 31, 2021 Cost or Amortized cost Gross unrecognized holding gains Gross unrecognized holding losses Gross unrealized gains Gross unrealized Fair value carrying amount RMB RMB RMB RMB RMB RMB Trading debt investments 63,741 1,367 — — — 65,108 63,741 1,367 — — — 65,108 |
Accounts Receivable, Net (Table
Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | |
Summary of Accounts Receivable, Net | Accounts receivable, net, consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Accounts receivable 125,606 135,678 19,671 Allowance for doubtful accounts (69,417 ) (115,380 ) (16,728 ) 56,189 20,298 2,943 |
Summary of Movements in Allowance for Doubtful Accounts | The movements in the allowance for doubtful accounts were: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Balance at the beginning of the year (862 ) (10,051 ) (69,417 ) (10,064 ) Additional provision charged to expense (9,217 ) (59,347 ) (46,045 ) (6,676 ) Foreign currency translation 28 (19 ) 82 12 Balance at the end of the year (10,051 ) (69,417 ) (115,380 ) (16,728 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories | Inventories consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Raw materials 62,462 49,127 7,123 Work in progress 17,134 4,939 716 Finished goods 27,168 28,188 4,087 Inventories, total 106,764 82,254 11,926 Inventories provision (28,689 ) (9,890 ) (1,434 ) 78,075 72,364 10,492 |
Prepayments and Other Current_2
Prepayments and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Prepaid Expense and Other Assets, Current [Abstract] | |
Summary of Prepayments and Other Current Assets | Prepayments and other current assets consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Prepayment for service 1,672 11,157 1,618 Unbilled revenue (Note 15) — 10,800 1,566 Deductible value-added tax input 16,487 8,976 1,301 Prepayment for acquisition of inventories 8,286 6,910 1,002 Loans receivable – current portion (Note 9) — 4,000 580 Staff advances 1,257 940 136 Others 1,693 2,400 347 29,395 45,183 6,550 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment, Net [Abstract] | |
Summary of Property and Equipment, Net | As of December 31, 2021 2022 RMB RMB US$ Leasehold improvements 30,250 32,634 4,731 Machinery and electronic equipment 22,547 29,061 4,214 Transportation equipment 3,643 3,249 471 Office equipment 2,511 2,641 383 Construction in progress 1,720 1,885 273 Mold and tooling — 2,290 332 60,671 71,760 10,404 Less: accumulated depreciation (25,223 ) (23,240 ) (3,369 ) Less: accumulated impairment (1,627 ) (1,460 ) (212 ) 33,821 47,060 6,823 |
Long-term Investments (Tables)
Long-term Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Long-term Investments [Abstract] | |
Summary of Long Term Investments | As of December 31, 2021 2022 RMB RMB US$ Equity method investments (a) 3,224 6,920 1,004 Equity investments without readily determinable fair values (b) 2,919 2,919 423 6,143 9,839 1,427 (a) In June 2021, the Group and a third-party investor entered into an investment agreement to establish an entity for establishing the 5G Intelligent Air Mobility Experience Center as well as local urban air mobility route planning and AAV operations, with total cash consideration of RMB10,500 and RMB19,500, respectively. The Group has made the investment of cash amounting RMB700 and RMB4,550 (US$660) in 2021 and 2022, respectively, and recorded RMB2,800 and RMB1,750 (US$254) in accrued expenses and other liabilities (Note 11), which was investment payable as of December 31, 2021 and 2022, respectively, pursuant to the investment agreement. The Group holds 35% of the equity interests and has significant influence on the investee, and accounted for the investment with equity method. For the year ended December 31, 2021, the Group recognized the loss from equity method investment in the amount of RMB276. For the year ended December 31, 2022, the Group recognized the income (b) In 2017, the Group provided facilitating services to a third party to acquire a land use right from the Guangzhou City government. In exchange for such services, the Group received a cash consideration of RMB41,117 and 5% equity interests in a corporation, the sole asset of which was the aforementioned land use right. The Group elected to use the measurement alternative to measure this investment at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. As of December 31, 2021 and 2022, the carrying value of this investment was RMB2,919 and RMB2,919 (US$423). |
Accrued Expenses and Other Li_2
Accrued Expenses and Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accrued Liabilities and Other Liabilities [Abstract] | |
Summary of Accrued Expenses and Other Liabilities | Accrued expenses and other liabilities consisted of the following: As of December 31, 2021 2022 RMB RMB US$ Payroll and welfare payables 32,532 39,268 5,693 Provision for litigation settlement (a) — 23,506 3,408 Payables for service fees 10,919 15,572 2,258 Other taxes payables 5,014 6,070 880 Product warranty liabilities 4,758 3,306 479 Payables for acquisition of property 1,237 3,040 441 Consideration payable to an equity method investment (Note 10(a)) 2,800 1,750 254 Accrued interests 769 749 109 Others 3,822 4,502 653 61,851 97,763 14,175 |
Summary of Reconciliation of Changes in Product Warranty Liability | A reconciliation of the changes in the Group’s product warranty liability is as follows: For the year ended December 31, 2021 2022 RMB RMB US$ Balance as of the beginning of the year 4,856 4,758 690 Accruals during the year 1,258 880 128 Claims during the year (319 ) (661 ) (96 ) Reversal during the year (1,037 ) (1,197 ) (174 ) Balance as of the ending of the year 4,758 3,780 548 Less: Non-current portion of warranty — (474 ) (69 ) Current portion of warranty 4,758 3,306 479 |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Revenue | The following table presents the disaggregation of revenue from contracts with the customers: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Revenues - Products Air mobility solutions 105,351 46,854 38,061 5,519 Smart city management solutions 8,282 7,135 2,133 309 Aerial media solutions 62,241 518 125 18 Others 186 416 456 66 Subtotal-Products 176,060 54,923 40,775 5,912 Revenues - Services Air mobility solutions 618 1,302 2,326 337 Aerial media solutions 3,415 582 1,216 176 Subtotal-Services 4,033 1,884 3,542 513 Total Revenues 180,093 56,807 44,317 6,425 |
Share-based Compensation (Table
Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Summary of RSUs activity under the Share Incentive Plan | The following table summarizes the Company’s RSUs activity under the Plans: Number of RSUs Weighted average Weighted average (US$) (Years) Unvested, December 31, 2019 735,476 4.7523 3.02 Granted 2,363,000 4.2912 Vested (1,819,726 ) 4.1359 Forfeited — — Unvested, December 31, 2020 1,278,750 4.7774 2.68 Granted 4,790,000 10.6200 Vested (1,949,250 ) 9.2469 Forfeited — — Unvested, December 31, 2021 4,119,500 9.4561 2.67 Granted 876,380 1.8800 Vested (2,034,880 ) 7.2254 Forfeited (283,000 ) 7.5431 Unvested, December 31, 2022 2,678,000 8.8740 1.90 Expected to vest as of December 31, 2022 2,678,000 |
Summary Of Share option Activity | The following table summarizes the Company’s share options activity under the 2015 Plan: Number of share Weighted average Weighted average (US$) (US$) Outstanding as of January 1 and December 31, 2022 53,737 2.2624 5.8853 Vested and expected to vest as of December 31, 2022 53,737 2.2624 5.8853 Exercisable as of December 31, 2022 53,737 2.2624 5.8853 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The Group calculated the estimated fair value of the share options under the 2015 Plan on the grant date using the Black-Scholes valuation model. Assumptions used to determine the fair value of the share options granted under the 2015 Plan is summarized in the following table: For the year ended December 31, 2020 Term in years 5 Volatility 53.73 % Discount rate 0.85 % Fair value per ordinary share US$ 5.24 |
Summary of Share-based Compensation Expenses Relating to RSUs Recognized | Total share-based compensation expenses relating to RSUs and options granted to employees recognized for the years ended December 31, 2020, 2021 and 2022 were as follows: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Cost of revenues 2,443 — — — Sales and marketing expenses 10,883 18,327 22,125 3,208 General and administrative expenses 14,453 71,147 38,452 5,575 Research and development expenses 27,078 31,657 36,321 5,266 54,857 121,131 96,898 14,049 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Summary of Loss Before Income Taxes | The Group’s loss before income taxes consisted of: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ PRC (30,412 ) (185,000 ) (192,495 ) (27,909 ) Non-PRC (61,423 ) (128,762 ) (136,757 ) (19,828 ) (91,835 ) (313,762 ) (329,252 ) (47,737 ) Income tax expense (benefit) comprises of: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Income tax expenses (benefits) applicable to PRC operations Current income tax expenses 22 113 62 9 Deferred income tax (benefits) expenses 184 — — — Subtotal income tax expenses applicable to PRC operations 206 113 62 9 Income tax expenses applicable to Non-PRC Current income tax expenses — 21 17 2 Subtotal income tax expenses applicable to Non-PRC — 21 17 2 Total income tax expenses 206 134 79 11 |
Summary of Reconciliations of Income Tax Expenses | The reconciliations of the income tax expenses for the years ended December 31, 2020, 2021 and 2022 were as follows: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Loss before income tax expense (91,835 ) (313,762 ) (329,252 ) (47,737 ) PRC statutory tax rate 25 % 25 % 25 % 25 % Income tax benefits at PRC statutory tax rate of 25% (22,959 ) (78,440 ) (82,313 ) (11,934 ) Effect of different tax rates in different jurisdictions 14,347 31,370 32,886 4,768 Non-deductible 1,195 5,455 6,758 980 Additional deduction for qualified R&D expenses (13,646 ) (24,197 ) (20,731 ) (3,006 ) Effect on adoption of preferential tax rate (12 ) 22 3 — Changes in tax rate in measurement of deferred tax 3,345 — — — Statutory expense (1,855 ) 2,636 2,151 312 Others 133 134 79 11 Change in valuation allowance 19,658 63,154 61,246 8,880 Income tax expenses 206 134 79 11 Effect of preferential tax rate inside the PRC on basic and dilutive loss per share — — — — |
Summary of Significant Components of Deferred Tax Assets (Labilities) | The significant components of the Group’s deferred tax assets (liabilities) were as follows: As of December 31, 2020 2021 2022 RMB RMB RMB US$ Non-current Tax losses 103,721 151,160 203,259 29,470 Allowance for doubtful accounts 3,047 17,376 29,288 4,246 Lease liabilities — — 18,858 2,734 Welfare payables 4,308 5,807 7,362 1,067 Inventory provision 7,360 7,172 2,472 359 Accrued expenses and other liabilities 1,354 1,329 1,573 228 Intangible assets — 43 23 3 Unrealized loss on long-term investment — 69 20 3 Unrealized profit arising from elimination of inter-company transactions 466 474 206 30 Deferred government subsidies 35 15 — — Total deferred tax assets 120,291 183,445 263,061 38,140 Less: valuation allowance (120,291 ) (183,445 ) (244,691 ) (35,477 ) Deferred tax assets, net of valuation allowance — — 18,370 2,663 Non-current Right-of-use assets — — (18,370 ) (2,663 ) Unrealized gain on long-term investment (292 ) (292 ) (292 ) (42 ) Total deferred tax liabilities (292 ) (292 ) (18,662 ) (2,705 ) Deferred tax assets (liabilities), net of valuation allowance (292 (292 (292 ) (42 ) |
Summary of Valuation Allowance | As of December 31, 2020 2021 2022 RMB RMB RMB US$ Valuation allowance Balance at beginning of the year 100,633 120,291 183,445 26,597 Additions 19,658 63,154 61,246 8,880 Balance at end of the year 120,291 183,445 244,691 35,477 |
Summary of Reconciliation of Unrecognized Tax Benefit | A reconciliation of the beginning and ending amount of unrecognized tax benefit was as follows: For the year ended December 31, 2020 2021 2022 RMB RMB RMB US$ Balance at the beginning of the year (5,494 ) (12,987 ) (5,480 ) (795 ) Additions based on tax positions related to the current year (7,673 ) — — — Reductions for tax positions of prior years 180 7,507 — — Balance at the end of the year (12,987 ) (5,480 ) (5,480 ) (795 ) |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Summary Of Accumulated Other Comprehensive Income Loss | Accumulated Other Comprehensive Income (loss) Foreign currency translation adjustment Unrealized (realized) gains on available- for-sales investments Total RMB RMB RMB Balance as of January 1, 2020 10,195 — 10,195 Other comprehensive (loss) income (9,974 ) 1,729 (8,245 ) Balance as of December 31, 2020 221 1,729 1,950 Other comprehensive loss (6,107 ) (1,729 ) (7,836 ) Balance as of December 31, 2021 (5,886 ) — (5,886 ) Other comprehensive income 20,896 — 20,896 Balance as of December 31, 2022 15,010 — 15,010 Balance as of December 31, 2022 (US$) 2,176 — 2,176 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Summary of Computation of Basic and Diluted Net Loss Per Share | The following table sets forth the computation of basic and diluted net loss per share for the following periods: For the year ended December 31, 2020 2021 2022 2022 Class A Class B Class A Class B Class A Class B RMB RMB RMB RMB RMB US$ RMB US$ Numerator: Net loss attributable to EHang Holdings Limited (51,294 ) (36,325 ) (193,772 ) (120,187 ) (214,390 ) (31,083 ) (113,831 ) (16,504 ) Net loss attributable to EHang Holdings Limited’s ordinary shareholders (51,294 ) (36,325 ) (193,772 ) (120,187 ) (214,390 ) (31,083 ) (113,831 ) (16,504 ) Denominator (in thousands of shares): Weighted-average number of ordinary shares outstanding – basic and diluted (in thousands of shares) 64,143 45,420 69,733 43,252 74,917 74,917 39,778 39,778 Loss per share – basic and diluted (0.80 ) (0.80 ) (2.78 ) (2.78 ) (2.86 ) (0.41 ) (2.86 ) (0.41 ) |
Company FinanciaStatements (Par
Company FinanciaStatements (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Balance Sheets | Condensed Balance Sheets As of December 31, 2021 2022 2022 RMB RMB US$ Note 2(e) ASSETS Current assets Cash and cash equivalents 72,998 362 52 Amounts due from a subsidiary — 13,697 1,986 Total current assets 72,998 14,059 2,038 Non-current assets Investments in subsidiaries 290,462 213,579 30,966 Total non-current assets 290,462 213,579 30,966 Total assets 363,460 227,638 33,004 Liabilities Current liabilities Accruals and other liabilities 3,744 27,432 3,977 Amounts due to the subsidiaries the VIEs — 11,230 1,628 Total current liabilities 3,744 38,662 5,605 Non-current liabilities Net interests of the VIEs 27,115 64,718 9,383 Total non-current liabilities 27,115 64,718 9,383 Total liabilities 30,859 103,380 14,988 Shareholders’ equity: Class A Ordinary shares 50 51 8 Class B Ordinary shares 25 24 3 Additional paid-in capital 1,459,374 1,558,356 225,940 Statutory reserves 1,191 1,191 173 Accumulated deficit (1,122,153 ) (1,450,374 ) (210,284 ) Accumulated other comprehensive (loss) income (5,886 ) 15,010 2,176 Total shareholders’ equity 332,601 124,258 18,016 Total liabilities and shareholders’ equity 363,460 227,638 33,004 |
Condensed Statements of Comprehensive Loss | Condensed Statements of Comprehensive Loss For the Year Ended December 31, 2020 2021 2022 2022 RMB RMB RMB US$ Note 2(e) Operating expenses: General and administrative expenses (1,144 ) (5,668 ) (13,630 ) (1,976 ) Total operating expenses (5,668 ) (13,630 ) (1,976 ) Loss from operations (5,668 ) (13,630 ) (1,976 ) Interest income 463 14 1 — Share of losses from subsidiaries (117,678 ) (299,575 ) (253,575 ) (36,765 ) Income (losses) from the VIEs 30,740 (8,730 ) (37,603 ) (5,452 ) Other expenses — — (23,414 ) (3,394 ) Net loss attributable to the Company’s ordinary shareholders (313,959 ) (328,221 ) (47,587 ) Other comprehensive (loss) income Foreign currency translation adjustment, net of nil tax (9,974 ) (6,107 ) 20,896 3,030 Unrealized gains on available-for-sale debt securities 1,729 (1,729 ) — — Other comprehensive (loss) income, net of tax (8,245 ) (7,836 ) 20,896 3,030 Comprehensive loss attributable to the Company’s ordinary shareholder (321,795 ) (307,325 ) (44,557 ) |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows For the Year Ended December 31, 2020 2021 2022 2022 RMB RMB RMB US$ Note (e) Cash flows from operating activities (4,874 ) (13,738 ) (1,992 ) Cash flows from investing activities Capital contribution to Group companies (66,599 ) (190,026 ) (58,898 ) (8,539 ) Other investing activities (484 ) 150 — — Net cash used in investing activities (67,083 ) (189,876 ) (58,898 ) (8,539 ) Cash flows from financing activities Other financing activities (7,343 ) 256,947 — — Net cash (used in) provided by financing activities (7,343 ) 256,947 — — Net (decrease) increase in cash and cash equivalents (75,107 ) 62,197 (72,636 ) (10,531 ) Cash and cash equivalents at beginning of the year 85,908 10,801 72,998 10,583 Cash and cash equivalents at end of the year 72,998 362 52 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets Measured or Disclosed at Fair Value on a Recurring Basis | Assets measured or disclosed at fair value on a recurring basis as of December 31, 2021 are summarized below: Fair Value Measurements as of December 31, 2021 using Quoted Price in Active Market for Identical Assets Significant Other Observable Inputs Unobservable Inputs Total (Level 1) (Level 2) (Level 3) fair value RMB RMB RMB RMB Fair value measurement Short-term investments Trading debt investments — 65,108 — 65,108 Total asset measured at fair value — 65,108 — 65,108 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Leases of Lessee | The Group and a third-party investor entered into an investment agreement to establish an investee with a certain payment schedule (Note 10). The following table sets forth our contractual obligations as of December 31, 2022. RMB US$ 2023 1,750 254 2024 1,750 254 Total 3,500 508 |
Organization and Nature of Op_3
Organization and Nature of Operations - Summary of Major Subsidiaries, VIE and Subsidiaries of VIE (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Schedule Of The Companies Major Subsidaries And Variable Interest Enitities [Line Items] | |
Place of incorporation/ establishment | E9 |
Ehfly Technology Limited ("Ehfly") [Member] | |
Schedule Of The Companies Major Subsidaries And Variable Interest Enitities [Line Items] | |
Date of incorporation/ establishment | Dec. 05, 2014 |
Place of incorporation/ establishment | K3 |
Percentage of direct ownership | 100% |
Percentage of indirect ownership | 0% |
Principal activities | Product sales investment holding |
EHang Intelligent Equipment (Guangzhou) Co., Ltd. ("EHang Intelligent" or the "WFOE") [Member] | |
Schedule Of The Companies Major Subsidaries And Variable Interest Enitities [Line Items] | |
Date of incorporation/ establishment | Oct. 15, 2015 |
Place of incorporation/ establishment | F4 |
Percentage of direct ownership | 100% |
Percentage of indirect ownership | 0% |
Principal activities | Research and development, manufacturing and product sales |
Yunfu EHang Intelligent Technology Limited ("EHang Yunfu") [Member] | |
Schedule Of The Companies Major Subsidaries And Variable Interest Enitities [Line Items] | |
Date of incorporation/ establishment | Jun. 15, 2020 |
Place of incorporation/ establishment | F4 |
Percentage of direct ownership | 68.50% |
Percentage of indirect ownership | 0% |
Principal activities | Research and development, manufacturing and product sales |
Guangzhou EHang Intelligent Technology Co., Ltd. ("EHang GZ" or the "VIE") [Member] | |
Schedule Of The Companies Major Subsidaries And Variable Interest Enitities [Line Items] | |
Date of incorporation/ establishment | Aug. 08, 2014 |
Place of incorporation/ establishment | F4 |
Percentage of direct ownership | 0% |
Percentage of indirect ownership | 100% |
Principal activities | Research and development, manufacturing and product sales |
Guangdong EHang General Aviation Co., Ltd. ("EHang Aviation") [member] | |
Schedule Of The Companies Major Subsidaries And Variable Interest Enitities [Line Items] | |
Date of incorporation/ establishment | Mar. 11, 2021 |
Place of incorporation/ establishment | F4 |
Percentage of direct ownership | 0% |
Percentage of indirect ownership | 100% |
Principal activities | Operational flight services |
Organization and Nature of Op_4
Organization and Nature of Operations - Summary of Financial Statement Balances and Amounts of VIE and VIE's Subsidiaries (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2022 USD ($) | |
Current assets: | |||||
Cash and cash equivalents | ¥ 249,310 | ¥ 246,863 | ¥ 137,840 | $ 36,147 | |
Accounts receivable, net | 20,298 | 56,189 | 2,943 | ||
Inventories | 72,364 | 78,075 | 10,492 | ||
Prepayments and other current assets | 45,183 | 29,395 | 6,550 | ||
Non-current assets: | |||||
Property and equipment, net | 47,060 | 33,821 | 6,823 | ||
Right-of-use assets, net | 73,482 | 0 | 10,654 | ||
Intangible assets, net | 1,959 | 745 | 284 | ||
Other non-current assets | 1,392 | 2,367 | 202 | ||
Total assets | 530,867 | 535,434 | 76,969 | ||
Current liabilities: | |||||
Accounts payable | 35,456 | 45,560 | 5,141 | ||
Contract liabilities | 19,321 | 14,831 | 2,801 | ||
Current portion of long-term bank loans | 13,154 | 3,000 | 1,907 | ||
Accrued expenses and current liabilities | 97,763 | 61,851 | 14,175 | ||
Non-current liabilities: | |||||
Long-term bank loans | 3,846 | 17,000 | 558 | ||
Unrecognized tax benefit | 5,480 | 5,480 | 795 | ||
Lease liabilities | 69,913 | 10,136 | |||
Total liabilities | 406,189 | 201,388 | 58,892 | ||
Net revenues | 44,317 | $ 6,425 | 56,807 | 180,093 | |
Net profit (loss) | (329,331) | (47,748) | (313,896) | (92,041) | |
Net cash (used in) provided by operating activities | (173,458) | (25,148) | (121,629) | (151,696) | |
Net cash used in investing activities | 56,400 | 8,176 | (33,401) | (66,209) | |
Net cash provided by (used in) financing activities | 106,740 | 15,475 | 266,947 | 42,680 | |
Net (decrease) increase in cash, cash equivalents and restricted cash | 2,287 | 332 | 106,850 | (181,489) | |
Variable Interest Entity And Major Subsidaries [Member] | |||||
Current assets: | |||||
Cash and cash equivalents | 11,404 | 8,014 | 1,653 | ||
Accounts receivable, net | 202 | 10,959 | 29 | ||
Inventories | 837 | 839 | 121 | ||
Prepayments and other current assets | 3,653 | 4,302 | 530 | ||
Amounts due from the Company and its subsidiaries | 6,911 | 25,774 | 1,002 | ||
Non-current assets: | |||||
Property and equipment, net | 1,273 | 2,032 | 185 | ||
Right-of-use assets, net | 799 | 116 | |||
Intangible assets, net | 229 | 77 | 33 | ||
Other non-current assets | 39 | 97 | 6 | ||
Total assets | 25,347 | 52,094 | 3,675 | ||
Current liabilities: | |||||
Accounts payable | 3,100 | 3,025 | 449 | ||
Contract liabilities | 2,027 | 1,677 | 294 | ||
Current portion of long-term bank loans | 5,154 | 1,000 | 747 | ||
Accrued expenses and current liabilities | 19,712 | 18,053 | 2,858 | ||
Amounts due to the Company and its subsidiaries | 55,451 | 45,991 | 8,040 | ||
Non-current liabilities: | |||||
Long-term bank loans | 3,846 | 9,000 | 558 | ||
Unrecognized tax benefit | 588 | 588 | 85 | ||
Lease liabilities | 800 | 116 | |||
Total liabilities | 90,678 | 79,334 | $ 13,147 | ||
Net revenues | 10,147 | 1,471 | 28,399 | 68,372 | |
Net profit (loss) | (38,091) | (5,523) | (8,534) | 25,755 | |
Net cash (used in) provided by operating activities | 4,627 | 671 | (3,482) | (5,118) | |
Net cash used in investing activities | (237) | (34) | (878) | (107) | |
Net cash provided by (used in) financing activities | (1,000) | (145) | 5,000 | ||
Net (decrease) increase in cash, cash equivalents and restricted cash | 3,390 | 492 | 640 | (5,225) | |
Variable Interest Entity And Major Subsidaries [Member] | Third-party revenue [Member] | |||||
Non-current liabilities: | |||||
Net revenues | 6 | 1 | 230 | 35,280 | |
Variable Interest Entity And Major Subsidaries [Member] | Inter-company revenue [Member] | |||||
Non-current liabilities: | |||||
Net revenues | ¥ 10,141 | $ 1,470 | ¥ 28,169 | ¥ 33,092 |
Organization and Nature of Op_5
Organization and Nature of Operations - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2022 USD ($) | |
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Net loss | ¥ (328,221) | $ (47,587) | ¥ (313,959) | ¥ (87,619) | |
Net loss | (329,331) | (47,748) | (313,896) | (92,041) | |
Accumulated deficit | (1,450,374) | (1,122,153) | $ (210,284) | ||
Net cash used in operating activities | (173,458) | $ (25,148) | (121,629) | (151,696) | |
Cash and cash equivalents, at carrying value | 249,310 | 246,863 | 137,840 | 36,147 | |
Loan Facility [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Debt instrument, unused borrowing capacity, amount | ¥ 10,000 | ||||
Debt instrument, maturity date | Feb. 09, 2024 | Feb. 09, 2024 | |||
EHang Intelligent Equipment (Guangzhou) Co., Ltd. ("EHang Intelligent" or the "WFOE") [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Variable interest entity ownership percentage | 0% | 0% | |||
Variable Interest Entity, Primary Beneficiary [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Net loss | ¥ (38,091) | $ (5,523) | (8,534) | 25,755 | |
Net cash used in operating activities | 4,627 | $ 671 | (3,482) | ¥ (5,118) | |
Cash and cash equivalents, at carrying value | ¥ 11,404 | ¥ 8,014 | $ 1,653 | ||
Variable Interest Entity, Primary Beneficiary [Member] | Revenue Benchmark [Member] | Revenue From Variable Interest Entity And Its Subsidiaries [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Concentration risk, percentage | 0.01% | 0.01% | 0.40% | 19.60% | |
EHang intelligent [member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Variable interest entity ownership percentage | 49% | 49% | |||
EHang GZ [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Variable interest entity ownership percentage | 51% | 51% | |||
Exclusive Consulting And Service Agreement [Member] | EHang Intelligent Equipment (Guangzhou) Co., Ltd. ("EHang Intelligent" or the "WFOE") [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Percentage of consolidated net profits agreed to pay as a service fee | 100% | 100% | |||
Nominee Shareholder [Member] | EHang Intelligent Equipment (Guangzhou) Co., Ltd. ("EHang Intelligent" or the "WFOE") [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Interest-free loans granted, aggregate amount | ¥ 60,000 | ||||
Consulting and service agreement term | The Exclusive Consulting and Service Agreement is valid for 10 years and renewable at the WFOE’s option. | The Exclusive Consulting and Service Agreement is valid for 10 years and renewable at the WFOE’s option. | |||
Variable Interest Entity and Its Subsidaries [Member] | |||||
Organization Consolidation Basis Of Presentation Business Description And Accounting Policies [Line Items] | |||||
Net loss | ¥ 47,683 | $ 6,913 | ¥ 36,371 | ¥ 507 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) Units | Dec. 31, 2022 USD ($) | Feb. 28, 2019 CNY (¥) | Feb. 28, 2019 USD ($) | |
Convenience translation rate per US$1.00 | 6.8972 | 6.8972 | |||||
Impairment of long-lived assets | ¥ 0 | ¥ 1,627 | ¥ 0 | ||||
Advertising expenditures | 2,945 | $ 427 | 2,114 | 1,965 | |||
Multi-employer defined contribution plan expenses | 12,361 | 1,792 | 10,262 | 4,022 | |||
Shipping and handling costs | 15,098 | 2,189 | 20,777 | 73,914 | |||
Restricted cash | 0 | 160 | |||||
Inventory write down | 956 | 139 | 2,640 | ||||
Gain (loss) on disposal of property plant equipment | 103 | $ 15 | (820) | (456) | |||
Indefinite lived intangible assets | 0 | 0 | 0 | ||||
Appropriation of reserves | 0 | 156 | 0 | ||||
Right of use asset | 64,869 | 24,670 | $ 9,405 | ||||
Lease Liability | ¥ 75,433 | ¥ 24,661 | $ 10,936 | ||||
Lease Term | 12 months | ||||||
Short Term Lease Term | 12 months | 12 months | |||||
Weighted average remaining lease terms of the right of use asset | 18 years | 18 years | |||||
Weighted average incremental borrowing rate | 4.40% | 4.40% | |||||
Operating lease cost | ¥ 13,986 | $ 2,028 | ¥ 10,460 | 9,019 | |||
Short term lease cost | 305 | $ 44 | |||||
Other lease cost | 0 | ||||||
Cash paid for operating leases | 11,164 | ||||||
Allowance for credit loss | 1,704 | $ 247 | |||||
Dividend Declared [Member] | |||||||
Dividends | ¥ 0 | 0 | 0 | ||||
General Reserve Fund [Member] | |||||||
Percentage of reserve appropriation net of tax | 10% | 10% | |||||
Percentage of registered capital | 50% | 50% | |||||
Statutory Surplus Reserve Fund [Member] | |||||||
Percentage of reserve appropriation net of tax | 10% | 10% | |||||
Percentage of registered capital | 50% | 50% | |||||
Accounts Receivable [Member] | |||||||
Cost and estimated earnings in excess of billings | ¥ 0 | 717 | |||||
Cost of Sales [Member] | |||||||
Inventory write down | 956 | $ 139 | 2,640 | 1,344 | |||
Other Expense [Member] | |||||||
Gain (loss) on disposal of property plant equipment | 103 | 15 | (820) | (456) | |||
Shipping and Handling [Member] | |||||||
Shipping and handling costs | 848 | $ 123 | 1,067 | ¥ 1,409 | |||
Development and Purchase Cooperative Arrangement [Member] | Biotech Company Limited [Member] | |||||||
Agreed-upon milestones, initial investment | 14,000 | ¥ 48,733 | $ 7,000 | ||||
Agreed-upon milestones, payments totaling | $ | $ 36,000 | ||||||
Development and Purchase Cooperative Arrangement [Member] | Biotech Company Limited [Member] | AAV [Member] | |||||||
Number of units of product proposed to be sold | Units | 1,000 | ||||||
Revenue from air mobility solutions | ¥ 0 | ¥ 0 | ¥ 5,137 | ||||
Series C Redeemable Convertible Preferred stock [Member] | |||||||
Preferred shares, issued | shares | 1,189,397 | 1,189,397 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary Of Amortization of Intangible Assets with Finite Lives (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Software [Member] | Maximum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life | 5 years |
Software [Member] | Minimum [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life | 3 years |
Patents and trademarks [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life | 5 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Estimated Useful Lives and Residual Value of Property and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Mold And Tooling [Member] | |
Property, Plant and Equipment [Line Items] | |
Residual value | 0% |
Mold And Tooling [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 2 years |
Mold And Tooling [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Office equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Residual value | 5% |
Machinery and electronic equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Residual value | 5% |
Machinery and electronic equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 3 years |
Machinery and electronic equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 10 years |
Transportation equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 4 years |
Residual value | 5% |
Leasehold improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | Shorter of lease term or the estimated useful lives of the assets |
Residual value | 0% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Summary of Operating Lease Liabilities (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Leases [Abstract] | |||
2023 | ¥ 5,632 | $ 817 | |
2024 | 4,290 | 622 | |
2025 | 4,982 | 721 | |
2026 | 6,448 | 935 | |
2027 | 6,817 | 988 | |
2028 and thereafter | 88,136 | 12,779 | |
Total | 116,305 | 16,862 | |
Less: imputed interest | (40,872) | (5,926) | |
Present value of lease liabilities | 75,433 | 10,936 | ¥ 24,661 |
Less: Current portion | (5,520) | (800) | |
Non-current portion of lease liabilities | ¥ 69,913 | $ 10,136 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Summary of Revenue by Customer Incorporation Location (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Revenue From External Customers By Geographic Areas [Line Items] | ||||
Revenues | ¥ 44,317 | $ 6,425 | ¥ 56,807 | ¥ 180,093 |
Percentage of revenues | 100% | 100% | 100% | 100% |
PRC [Member] | ||||
Revenue From External Customers By Geographic Areas [Line Items] | ||||
Revenues | ¥ 33,975 | $ 4,926 | ¥ 49,683 | ¥ 164,153 |
Percentage of revenues | 77% | 77% | 87% | 91% |
West Asia [Member] | ||||
Revenue From External Customers By Geographic Areas [Line Items] | ||||
Revenues | ¥ 4,630 | $ 671 | ¥ 2,124 | |
Percentage of revenues | 10% | 10% | 1% | |
Europe [Member] | ||||
Revenue From External Customers By Geographic Areas [Line Items] | ||||
Revenues | ¥ 2,638 | $ 382 | ¥ 2,199 | ¥ 2,388 |
Percentage of revenues | 6% | 6% | 4% | 1% |
East Asia [Member] | ||||
Revenue From External Customers By Geographic Areas [Line Items] | ||||
Revenues | ¥ 798 | $ 116 | ¥ 4,404 | ¥ 4,550 |
Percentage of revenues | 2% | 2% | 8% | 3% |
Other [Member] | ||||
Revenue From External Customers By Geographic Areas [Line Items] | ||||
Revenues | ¥ 2,276 | $ 330 | ¥ 521 | ¥ 6,878 |
Percentage of revenues | 5% | 5% | 1% | 4% |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Summary of Future Minimum Lease Payments (Detail) ¥ in Thousands | Dec. 31, 2021 CNY (¥) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2022 | ¥ 11,530 |
2023 | 5,926 |
2024 | 791 |
2025 | 1,252 |
2026 | 2,635 |
2027 and thereafter | 4,612 |
Total | ¥ 26,746 |
Concentration of Risks - Summar
Concentration of Risks - Summary of External Customers with 10% or More of Group's Revenues (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Revenue, Major Customer [Line Items] | ||||
Revenue | ¥ 44,317 | $ 6,425 | ¥ 56,807 | ¥ 180,093 |
Cost of Revenue | 15,098 | 2,189 | 20,777 | 73,914 |
Supplier A [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Cost of Revenue | 3,056 | 443 | 7,807 | |
Supplier B [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Cost of Revenue | 8,405 | |||
Supplier C [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Cost of Revenue | 7,596 | |||
Customer A [Member] | Customer Concentration Risk [Member] | Sales revenue product line [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenue | 22,655 | |||
Customer B [Member] | Customer Concentration Risk [Member] | Sales revenue product line [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenue | 92,331 | |||
Customer C [Member] | Customer Concentration Risk [Member] | Sales revenue product line [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenue | 7,080 | ¥ 24,071 | ||
Customer D [Member] | Customer Concentration Risk [Member] | Sales revenue product line [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenue | ¥ 19,646 | |||
Customer E [Member] | Customer Concentration Risk [Member] | Sales revenue product line [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenue | 9,217 | 1,336 | ||
Customer F [Member] | Customer Concentration Risk [Member] | Sales revenue product line [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenue | 5,611 | 814 | ||
Customer G [Member] | Customer Concentration Risk [Member] | Sales revenue product line [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Revenue | ¥ 4,630 | $ 671 |
Concentration of Risks - Additi
Concentration of Risks - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2020 CNY (¥) | |
Concentration Risk [Line Items] | ||||
Accounts receivable, net of allowance | ¥ 20,298 | ¥ 56,189 | $ 2,943 | |
Debt securities, investments in equity | 6,920 | 3,224 | 1,004 | |
Cash and cash equivalents | 249,310 | 246,863 | 36,147 | ¥ 137,840 |
Two Customer [Member] | ||||
Concentration Risk [Line Items] | ||||
Accounts receivable, net of allowance | ¥ 8,095 | 1,174 | ||
Three Customer [Member] | ||||
Concentration Risk [Line Items] | ||||
Accounts receivable, net of allowance | ¥ 32,385 | |||
Accounts Receivable [Member] | Two Customer [Member] | Customer Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 40% | |||
Accounts Receivable [Member] | Three Customer [Member] | Customer Concentration Risk [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 58% | |||
CHINA | ||||
Concentration Risk [Line Items] | ||||
Cash and cash equivalents and short-term investments | ¥ 36,825 | |||
Cash and cash equivalents | ¥ 240,542 | 34,876 | ||
Other Than PRC [Member] | ||||
Concentration Risk [Line Items] | ||||
Cash and cash equivalents and short-term investments | 275,306 | |||
Debt securities, investments in equity | ¥ 65,108 | |||
Cash and cash equivalents | ¥ 8,768 | $ 1,271 |
Short-term Investments - Summar
Short-term Investments - Summary of Short Term Investments (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Marketable Securities [Line Items] | |||
Trading debt investments | ¥ 65,108 | ||
Total Short-term investments | ¥ 0 | $ 0 | 65,108 |
Cost or Amortized Cost [Member] | |||
Marketable Securities [Line Items] | |||
Trading debt investments | 63,741 | ||
Total Short-term investments | 63,741 | ||
Gross Unrealized Holding Gains [Member] | |||
Marketable Securities [Line Items] | |||
Trading debt investments | 1,367 | ||
Total Short-term investments | 1,367 | ||
Gross Unrealized Gains [Member] | |||
Marketable Securities [Line Items] | |||
Trading debt investments | 0 | ||
Total Short-term investments | ¥ 0 |
Short-term Investments - Additi
Short-term Investments - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2022 USD ($) | |
Short Term Investments [Line Items] | |||||
Interest income from short-term investments | ¥ 4,669 | $ 677 | ¥ 5,143 | ¥ 3,795 | |
Debt securities, investments in equity | 6,920 | 3,224 | $ 1,004 | ||
Interest Income [Member] | |||||
Short Term Investments [Line Items] | |||||
Interest income from short-term investments | 2,771 | $ 402 | 1,818 | ¥ 478 | |
Debt securities, investments in equity | ¥ 65,108 | ||||
Interest And Investment Income [Member] | |||||
Short Term Investments [Line Items] | |||||
Debt securities available for sale realized gain | ¥ 1,729 |
Accounts Receivable, Net - Summ
Accounts Receivable, Net - Summary of Accounts Receivable, Net (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2019 CNY (¥) |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | ||||||
Accounts receivable | ¥ 135,678 | $ 19,671 | ¥ 125,606 | |||
Allowance for doubtful accounts | (115,380) | (16,728) | (69,417) | $ (10,064) | ¥ (10,051) | ¥ (862) |
Total | ¥ 20,298 | $ 2,943 | ¥ 56,189 |
Accounts Receivable, Net - Su_2
Accounts Receivable, Net - Summary of Movements in Allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | ||||
Balance at beginning of the year | ¥ (69,417) | $ (10,064) | ¥ (10,051) | ¥ (862) |
Additional provision charged to expense | (46,045) | (6,676) | (59,347) | (9,217) |
Foreign currency translation | 82 | 12 | (19) | 28 |
Balance at the end of the year | ¥ (115,380) | $ (16,728) | ¥ (69,417) | ¥ (10,051) |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Inventory Disclosure [Abstract] | |||
Raw materials | ¥ 49,127 | $ 7,123 | ¥ 62,462 |
Work in progress | 4,939 | 716 | 17,134 |
Finished goods | 28,188 | 4,087 | 27,168 |
Inventories, total | 82,254 | 11,926 | 106,764 |
Inventories provision | (9,890) | (1,434) | (28,689) |
Inventories | ¥ 72,364 | $ 10,492 | ¥ 78,075 |
Prepayments and Other Current_3
Prepayments and Other Current Assets - Summary of Prepayments and Other Current Assets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Prepaid Expense and Other Assets, Current [Abstract] | |||
Prepayment for service | ¥ 11,157 | $ 1,618 | ¥ 1,672 |
Unbilled revenue (Note 15) | 10,800 | 1,566 | |
Deductible value-added tax input | 8,976 | 1,301 | 16,487 |
Prepayment for acquisition of inventories | 6,910 | 1,002 | 8,286 |
Loans receivable – current portion (Note 9) | 4,000 | 580 | |
Staff advances | 940 | 136 | 1,257 |
Others | 2,400 | 347 | 1,693 |
Total Prepayments | ¥ 45,183 | $ 6,550 | ¥ 29,395 |
Prepayments and Other Current_4
Prepayments and Other Current Assets - Additional Information (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2019 CNY (¥) |
Allowance for doubtful accounts | ¥ 115,380 | $ 16,728 | ¥ 69,417 | $ 10,064 | ¥ 10,051 | ¥ 862 |
Third Party [Member] | ||||||
Allowance for doubtful accounts | ¥ 1,655 | $ 240 | ¥ 1,537 |
Property and Equipment, Net - S
Property and Equipment, Net - Summary of Plant and Equipment, Net (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Property, Plant and Equipment, Net [Abstract] | |||
Leasehold improvements | ¥ 32,634 | $ 4,731 | ¥ 30,250 |
Machinery and electronic equipment | 29,061 | 4,214 | 22,547 |
Transportation equipment | 3,249 | 471 | 3,643 |
Office equipment | 2,641 | 383 | 2,511 |
Construction in progress | 1,885 | 273 | 1,720 |
Mold and tooling | 2,290 | 332 | |
Property,plant and equipment,gross | 71,760 | 10,404 | 60,671 |
Less: accumulated depreciation | (23,240) | (3,369) | (25,223) |
Less: accumulated impairment | (1,460) | (212) | (1,627) |
Total | ¥ 47,060 | $ 6,823 | ¥ 33,821 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Property, Plant and Equipment, Net [Abstract] | ||||
Depreciation expense | ¥ 8,478 | $ 1,229 | ¥ 7,427 | ¥ 5,785 |
Long-term loans receivable - Ad
Long-term loans receivable - Additional Information (Detail) € in Thousands, ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2020 CNY (¥) | Jan. 31, 2020 | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2022 USD ($) | Jan. 01, 2020 CNY (¥) | Jan. 01, 2020 EUR (€) | |
Loans from third parties, amount repaid | ¥ 40,000 | ||||||||
Loans and Leases Receivable, Gross | 4,000 | $ 580 | |||||||
Third Party [Member] | |||||||||
Debt instrumen outstanding amount | 12,000 | 1,740 | |||||||
Third Party [Member] | Not Later Than Nine Months [Member] | |||||||||
Debt instrumen outstanding amount | 2,000 | 290 | |||||||
Third Party [Member] | Not Later Than One Year [Member] | |||||||||
Debt instrumen outstanding amount | 2,000 | 290 | |||||||
Third Party [Member] | Later Than One Year And Not Later Than Two Years [Member] | |||||||||
Debt instrumen outstanding amount | 8,000 | $ 1,160 | |||||||
Key AAV [Member] | |||||||||
Long term loans receivable. Agreement term | 2 years | 3 years | |||||||
Loans receivable principal amount | ¥ 1,900 | ¥ 52,000 | € 243 | ||||||
Loans receivable, interest rate | 3.50% | 3% | 3% | ||||||
Loans receivable, interest income | ¥ 423 | $ 61 | ¥ 418 | ¥ 984 |
Long-term Investments - Summary
Long-term Investments - Summary of Long Term Investments (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Long-term Investments [Abstract] | |||
Equity method investments | ¥ 6,920 | $ 1,004 | ¥ 3,224 |
Equity investments without readily determinable fair values | 2,919 | 423 | 2,919 |
Total | ¥ 9,839 | $ 1,427 | ¥ 6,143 |
Long-term Investments - Summa_2
Long-term Investments - Summary of Long Term Investments (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2021 CNY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2017 CNY (¥) | Dec. 31, 2022 USD ($) | |
Schedule of Equity Method Investments [Line Items] | ||||||||
Payments to acquire equity method investments | ¥ 10,500 | |||||||
Income loss from equity method investments | ¥ (196) | $ (28) | ¥ 276 | ¥ 52 | ||||
Committed capital | 3,500 | $ 508 | ||||||
Equity investments without readily determinable fair values | 2,919 | 2,919 | $ 423 | |||||
Proceeds from providing facilitating services | ¥ 41,117 | |||||||
Cash paid for long-term investment | 4,550 | 660 | 700 | |||||
Unbilled Revenue Impairment Of Balances Reversed | ¥ 1,750 | $ 254 | ¥ 2,800 | |||||
Third Party Investor [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Payments to acquire equity method investments | ¥ 19,500 | |||||||
Third Party Investor [Member] | Guangzhou City Government [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, Ownership percentage | 5% |
Accrued Expenses and Other Li_3
Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities and Long-term Loans (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Accrued Liabilities and Other Liabilities [Abstract] | |||
Payroll and welfare payables | ¥ 39,268 | $ 5,693 | ¥ 32,532 |
Provision for litigation settlement (a) | 23,506 | 3,408 | |
Payables for service fee | 15,572 | 2,258 | 10,919 |
Other taxes payables | 6,070 | 880 | 5,014 |
Product warranty liabilities | 3,306 | 479 | 4,758 |
Payables for acquisition of property and equipment | 3,040 | 441 | 1,237 |
Consideration payable to an equity method investment | 1,750 | 254 | 2,800 |
Accrued interests | 749 | 109 | 769 |
Others | 4,502 | 653 | 3,822 |
Total | ¥ 97,763 | $ 14,175 | ¥ 61,851 |
Accrued Expenses and Other Li_4
Accrued Expenses and Other Liabilities - Summary of Reconciliation of Changes in Product Warranty Liability (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2022 USD ($) | |
Standard Product Warranty Disclosure [Abstract] | ||||
Balance as of the beginning of the year | ¥ 4,758 | $ 690 | ¥ 4,856 | |
Accruals during the year | 880 | 128 | 1,258 | |
Claims during the year | (661) | (96) | (319) | |
Reversal during the year | (1,197) | (174) | (1,037) | |
Balance as of the ending of the year | 3,780 | $ 548 | 4,758 | |
Less: Non-current portion of warranty | (474) | 0 | $ (69) | |
Current portion of warranty | ¥ 3,306 | ¥ 4,758 | $ 479 |
Accrued Expenses and Other Li_5
Accrued Expenses and Other Liabilities - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Pending Litigation [Member] | Compensatory damages [Member] | Company and chairman and chief executive officer of the company [Member] | |
Loss contingency accrual provision | $ 3,375 |
Bank Loans - Additional Informa
Bank Loans - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2022 USD ($) | |
Short-term Debt [Line Items] | |||||
Repayments Short-term bank loan | ¥ 10,000 | $ 1,450 | ¥ 15,000 | ¥ 5,000 | |
Long term debt | ¥ 20,000 | ||||
Debt instrument interest rate effective percentage | 3.80% | ||||
Current portion of long-term bank loans | 13,154 | ¥ 3,000 | $ 1,907 | ||
Short-term bank loan | ¥ 49,794 | ¥ 10,000 | $ 7,219 | ||
Loans from third parties, annual interest rate | 3.90% | 3.90% | |||
PRC [Member] | |||||
Short-term Debt [Line Items] | |||||
Short-term bank loan | ¥ 49,794 | $ 7,219 | |||
Maximum [Member] | |||||
Short-term Debt [Line Items] | |||||
Long term debt, maturity date | Mar. 15, 2026 | ||||
Minimum [Member] | |||||
Short-term Debt [Line Items] | |||||
Long term debt, maturity date | Apr. 02, 2022 |
Short-term debt - Additional In
Short-term debt - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Short-term Debt [Line Items] | ||||
Stock Issued During Period, Value, New Issues | ¥ 256,945 | |||
Proceeds from issuance of common stock | ¥ 256,945 | ¥ 7,313 | ||
Adjustments to Additional Paid in Capital, Warrant Issued | ¥ 13,697 | |||
Investor [Member] | ||||
Short-term Debt [Line Items] | ||||
Stock Issued During Period, Value, New Issues | $ | $ 10,000 | |||
Number of days from signing off of Sales and purchase agreement | 30 days | 30 days | ||
Consideration received from sale of stock | ¥ 69,861 | $ 10,000 | ||
Proceeds from issuance of common stock | 69,861 | |||
Adjustments to Additional Paid in Capital, Warrant Issued | 13,697 | 1,986 | ||
Debt Issued During the Period | 56,164 | 8,143 | ||
Interest Expense, Debt | ¥ 1,674 | $ 243 | ||
Investor [Member] | Common Class A [Member] | ||||
Short-term Debt [Line Items] | ||||
Stock Issued During Period, Shares, New Issues | shares | 3,466,204 | 3,466,204 |
Mandatorily Redeemable Non-co_2
Mandatorily Redeemable Non-controlling Interests - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 1 Months Ended | |||
Jun. 30, 2020 CNY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | |
Noncontrolling Interest [Line Items] | ||||
Minority Interests Ownership Percentage By Parent | 30% | |||
Dividend rate, preferred stock | 1.50% | |||
Yunfu EHang Intelligent Technology Limited("Yunfu") [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Cash consideration paid for non controlling interests | ¥ 40,000 | |||
Minority Interests Ownership Percentage By Parent | 30% | |||
Interest payable | ¥ 180 | $ 26 | ¥ 200 | |
Yunfu EHang Intelligent Technology Limited("Yunfu") [Member] | Third Party [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Minority Interests Ownership Percentage By Parent | 30% |
Revenues - Summary of Revenues
Revenues - Summary of Revenues (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | ¥ 44,317 | $ 6,425 | ¥ 56,807 | ¥ 180,093 |
Products air mobility solutions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 38,061 | 5,519 | 46,854 | 105,351 |
Products smart city management solutions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 2,133 | 309 | 7,135 | 8,282 |
Products aerial media solutions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 125 | 18 | 518 | 62,241 |
Products others [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 456 | 66 | 416 | 186 |
Product [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 40,775 | 5,912 | 54,923 | 176,060 |
Air mobility solutions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 2,326 | 337 | 1,302 | 618 |
Services aerial media solutions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 1,216 | 176 | 582 | 3,415 |
Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | ¥ 3,542 | $ 513 | ¥ 1,884 | ¥ 4,033 |
Revenues - Additional Informati
Revenues - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | |
Revenue recognized contract liability | ¥ 3,828 | $ 555 | |
Reclassified From Cost And Estimated Earnings In Excess Of Billings To Accounts Receivable [Member] | |||
Cost and estimated earnings in excess of billings | ¥ 717 | ||
General and Administrative Expense [Member] | |||
Decrease in unbilled revenue was due to impairment of balances amount | 2,800 | ||
Decrease in accounts receivable caused by impairment | ¥ 46,045 | $ 6,676 | ¥ 59,347 |
Share-based Compensation - Summ
Share-based Compensation - Summary of RSUs activity under the Share Incentive Plan (Detail) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Number of RSUs - Unvested, Beginning Balance | 4,119,500 | 1,278,750 | 735,476 | |
Number of RSUs - Granted | 876,380 | 4,790,000 | 2,363,000 | |
Number of RSUs - Vested | (2,034,880) | (1,949,250) | (1,819,726) | |
Number of RSUs - Forfeited | (283,000) | 0 | 0 | |
Number of RSUs - Unvested, Ending Balance | 2,678,000 | 4,119,500 | 1,278,750 | 735,476 |
Weighted average grant date fair value - Unvested, Beginning Balance | $ 9.4561 | $ 4.7774 | $ 4.7523 | |
Weighted average grant date fair value - Granted | 1.88 | 10.62 | 4.2912 | |
Weighted average grant date fair value - Vested | 7.2254 | 9.2469 | 4.1359 | |
Weighted average grant date fair value - Forfeited | 7.5431 | 0 | 0 | |
Weighted average grant date fair value - Unvested, Ending Balance | $ 8.874 | $ 9.4561 | $ 4.7774 | $ 4.7523 |
Weighted average remaining contractual life (Years) | 1 year 10 months 24 days | 2 years 8 months 1 day | 2 years 8 months 4 days | 3 years 7 days |
Expected to vest as of December 31, 2022 | 2,678,000 |
Share-based Compensation - Su_2
Share-based Compensation - Summary of Share Option Activity (Detail) - Share Incentive Plan 2015 [Member] | Dec. 31, 2022 $ / shares shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of share options, Outstanding | shares | 53,737 |
Number of share options, Vested | shares | 53,737 |
Number of share options, Exercisable | shares | 53,737 |
Weighted average grant date fair value, Outstanding | $ 2.2624 |
Weighted average grant date fair value, Vested | 2.2624 |
Weighted average grant date fair value, Exercisable | 2.2624 |
Weighted average exercise price, Outstanding | 5.8853 |
Weighted average exercise price, Vested | 5.8853 |
Weighted average exercise price, Exercisable | $ 5.8853 |
Share-based Compensation - Su_3
Share-based Compensation - Summary of Assumptions Used to Determine the Fair Value of Share Options Granted (Detail) - Share Incentive Plan 2015 [Member] | 12 Months Ended |
Dec. 31, 2020 $ / shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Term in years | 5 years |
Volatility | 53.73% |
Discount rate | 0.85% |
Fair value per ordinary share | $ 5.24 |
Share-based Compensation - Su_4
Share-based Compensation - Summary of Share-based Compensation Expenses Relating to RSUs Recognized (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expenses | ¥ 96,898 | $ 14,049 | ¥ 121,131 | ¥ 54,857 |
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expenses | 96,898 | 14,049 | 121,131 | 54,857 |
Cost of revenues [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expenses | 0 | 0 | 2,443 | |
Sales and marketing expenses [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expenses | 22,125 | 3,208 | 18,327 | 10,883 |
General and administrative expenses [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expenses | 38,452 | 5,575 | 71,147 | 14,453 |
Research and development expenses [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Share-based compensation expenses | ¥ 36,321 | $ 5,266 | ¥ 31,657 | ¥ 27,078 |
Share-based Compensation - Addi
Share-based Compensation - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Sep. 28, 2019 shares | Dec. 23, 2016 shares | Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 CNY (¥) shares | Dec. 31, 2020 CNY (¥) shares | Dec. 31, 2022 USD ($) | |
Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Granted | 876,380 | 876,380 | 4,790,000 | 2,363,000 | |||
Total fair value of RSUs vested | ¥ 96,898 | $ 14,049 | ¥ 121,131 | ¥ 54,036 | |||
Unrecognized share-based compensation expenses | ¥ 158,870 | $ 23,034 | |||||
Unrecognized share-based compensation expenses, weighted average vesting period | 1 year 10 months 24 days | 1 year 10 months 24 days | |||||
Restricted Stock Units (RSUs) [Member] | One Year Period [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based compensation arrangement by share based payment award equity other than options vesting period | 1 year | 1 year | |||||
Share based compensation by share based award equity instruments other than options subject to service condition | 5,000 | 5,000 | |||||
Restricted Stock Units (RSUs) [Member] | Two Year Period [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based compensation arrangement by share based payment award equity other than options vesting period | 2 years | 2 years | |||||
Share based compensation by share based award equity instruments other than options subject to service condition | 451,380 | 451,380 | |||||
Restricted Stock Units (RSUs) [Member] | Four Year Period [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share based compensation arrangement by share based payment award equity other than options vesting period | 4 years | 4 years | |||||
Share based compensation by share based award equity instruments other than options subject to service condition | 7,573,000 | 7,573,000 | |||||
Share Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Aggregate number of ordinary shares that may be issued pursuant to all share-based awards | 8,867,053 | ||||||
Percentage of total outstanding shares on a fully diluted basis allowed for share-based awards | 15% | ||||||
Share Incentive Plan 2019 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Aggregate number of ordinary shares that may be issued pursuant to all share-based awards | 7,747,019 | ||||||
Percentage of total outstanding shares on a fully diluted basis allowed for share-based awards | 15% | ||||||
Share Incentive Plan 2019 [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unrecognized compensation cost related to stock options | ¥ | ¥ 0 | ¥ 0 | ¥ 0 | ||||
Share Incentive Plan 2019 [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Granted | 876,380 | 876,380 | 4,790,000 | 1,613,000 | |||
Unrecognized compensation cost related to stock options | ¥ | ¥ 0 | ¥ 0 | ¥ 821 | ||||
Share Incentive Plan 2015 [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Granted | 0 | 0 | 0 | 750,000 |
Income Taxes - Summary of Loss
Income Taxes - Summary of Loss Before Income Taxes (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
PRC | ¥ (192,495) | $ (27,909) | ¥ (185,000) | ¥ (30,412) |
Non-PRC | (136,757) | (19,828) | (128,762) | (61,423) |
Loss before income taxes | ¥ (329,252) | $ (47,737) | ¥ (313,762) | ¥ (91,835) |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Income Tax Disclosure [Line Items] | ||||
Deferred income tax (benefits) expenses | ¥ 184 | |||
Subtotal income tax expenses applicable to PRC operations | ¥ 79 | $ 11 | ¥ 134 | 206 |
Subtotal income tax expenses applicable to Non-PRC operations | 79 | 11 | 134 | 206 |
Total income tax expenses | 79 | 11 | 134 | 206 |
Non-PRC [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Current income tax expenses | 17 | 2 | 21 | 0 |
Subtotal income tax expenses applicable to PRC operations | 17 | 2 | 21 | 0 |
Current income tax expenses | 17 | 2 | 21 | 0 |
Subtotal income tax expenses applicable to Non-PRC operations | 17 | 2 | 21 | 0 |
Total income tax expenses | 17 | 2 | 21 | 0 |
PRC [Member] | ||||
Income Tax Disclosure [Line Items] | ||||
Current income tax expenses | 62 | 9 | 113 | 22 |
Deferred income tax (benefits) expenses | 0 | 0 | 0 | 184 |
Subtotal income tax expenses applicable to PRC operations | 62 | 9 | 113 | 206 |
Current income tax expenses | 62 | 9 | 113 | 22 |
Subtotal income tax expenses applicable to Non-PRC operations | 62 | 9 | 113 | 206 |
Total income tax expenses | ¥ 62 | $ 9 | ¥ 113 | ¥ 206 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliations of Income Tax Expenses (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) ¥ / shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 CNY (¥) ¥ / shares | Dec. 31, 2020 CNY (¥) ¥ / shares | |
Income Tax Disclosure [Abstract] | ||||
Loss before income tax expense | ¥ (329,252) | $ (47,737) | ¥ (313,762) | ¥ (91,835) |
PRC statutory tax rate | 25% | 25% | 25% | 25% |
Income tax benefits at PRC statutory tax rate of 25% | ¥ (82,313) | $ (11,934) | ¥ (78,440) | ¥ (22,959) |
Effect of different tax rates in different jurisdictions | 32,886 | 4,768 | 31,370 | 14,347 |
Non-deductible expenses | 6,758 | 980 | 5,455 | 1,195 |
Additional deduction for qualified R&D expenses | (20,731) | (3,006) | (24,197) | (13,646) |
Effect on adoption of preferential tax rate | 3 | 0 | 22 | (12) |
Changes in tax rate in measurement of deferred tax | 0 | 0 | 0 | 3,345 |
Statutory expense | 2,151 | 312 | 2,636 | (1,855) |
Others | 79 | 11 | 134 | 133 |
Change in valuation allowance | 61,246 | 8,880 | 63,154 | 19,658 |
Total income tax expenses | ¥ 79 | $ 11 | ¥ 134 | ¥ 206 |
Effect of preferential tax rate inside the PRC on basic and dilutive loss per share | (per share) | ¥ 0 | $ 0 | ¥ 0 | ¥ 0 |
Income Taxes - Summary of Signi
Income Taxes - Summary of Significant Components of Deferred Tax Assets (Labilities) (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2019 CNY (¥) |
Non-current deferred tax assets | ||||||
Tax losses | ¥ 203,259 | $ 29,470 | ¥ 151,160 | ¥ 103,721 | ||
Allowance for doubtful accounts | 29,288 | 4,246 | 17,376 | 3,047 | ||
Lease liabilities | 18,858 | 2,734 | 0 | 0 | ||
Welfare payables | 7,362 | 1,067 | 5,807 | 4,308 | ||
Inventory provision | 2,472 | 359 | 7,172 | 7,360 | ||
Accrued expenses and other liabilities | 1,573 | 228 | 1,329 | 1,354 | ||
Intangible assets | 23 | 3 | 43 | 0 | ||
Unrealized loss on long-term investment | 20 | 3 | 69 | 0 | ||
Unrealized profit arising from elimination of inter-company transactions | 206 | 30 | 474 | 466 | ||
Deferred government subsidies | 0 | 0 | 15 | 35 | ||
Total deferred tax assets | 263,061 | 38,140 | 183,445 | 120,291 | ||
Less: valuation allowance | (244,691) | (35,477) | (183,445) | $ (26,597) | (120,291) | ¥ (100,633) |
Deferred tax assets, net of valuation allowance | 18,370 | 2,663 | 0 | 0 | ||
Non-current deferred tax liabilities | ||||||
Right-of-use assets | (18,370) | (2,663) | 0 | 0 | ||
Unrealized gain on long-term investment | (292) | (42) | (292) | (292) | ||
Total deferred tax liabilities | (18,662) | (2,705) | (292) | (292) | ||
Deferred tax assets (liabilities), net of valuation allowance | ¥ (292) | $ (42) | ¥ (292) | ¥ (292) |
Income Tax - Summary Of Valuati
Income Tax - Summary Of Valuation Allowance (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Balance at beginning of the year | ¥ 183,445 | $ 26,597 | ¥ 120,291 | ¥ 100,633 |
Additions | 61,246 | 8,880 | 63,154 | 19,658 |
Balance at end of the year | ¥ 244,691 | $ 35,477 | ¥ 183,445 | ¥ 120,291 |
Income Taxes - Summary of Rec_2
Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefit (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Income Tax Disclosure [Abstract] | ||||
Balance at the beginning of the year | ¥ (5,480) | $ (795) | ¥ (12,987) | ¥ (5,494) |
Additions based on tax positions related to the current year | 0 | 0 | (7,673) | |
Reductions for tax positions of prior years | 0 | 0 | 7,507 | 180 |
Balance at end of the year | ¥ (5,480) | $ (795) | ¥ (5,480) | ¥ (12,987) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) ¥ in Thousands, $ in Thousands, $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2022 HKD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2019 CNY (¥) | Dec. 31, 2018 | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Income tax rate | 25% | 25% | 25% | 25% | ||||
Unrecognized tax benefit | ¥ 5,480 | ¥ 5,480 | ¥ 12,987 | ¥ 5,494 | $ 795 | $ 795 | ||
Interest expense on unrecognized tax benefit | 0 | 0 | 0 | |||||
Unrecognized tax benefits income tax penalties and interest accrued | ¥ 0 | 0 | ¥ 0 | |||||
HONG KONG | ||||||||
Income tax rate | 16.50% | 16.50% | ||||||
Ehfly [Member] | HONG KONG | ||||||||
Income tax rate | 8.25% | 8.25% | ||||||
Effective income tax rate reconciliation, noncontrolling interest income (loss), amount | $ | $ 2 | |||||||
Ehang HK [Member] | HONG KONG | ||||||||
Effective income tax rate reconciliation, noncontrolling interest income (loss), amount | $ | $ 2 | |||||||
PRC [Member] | ||||||||
Income tax rate | 25% | 25% | ||||||
High and New Technology Enterprise, tax rate | 15% | 15% | ||||||
Deductible tax losses | ¥ 786,444 | 584,961 | 114,024 | |||||
Effective income tax rate reconciliation qualified research and development additional deduction percent | 75% | 75% | ||||||
Income Tax Examination, Description | five years | five years | ||||||
PRC [Member] | Tax Year 2008 Onwards [Member] | ||||||||
Effective income tax rate reconciliation qualified research and development additional deduction percent | 50% | 50% | ||||||
PRC [Member] | Tax Year From 2018 to 2020 [Member] | ||||||||
Effective income tax rate reconciliation qualified research and development additional deduction percent | 75% | 75% | ||||||
PRC [Member] | EH Kashi Ehang Egret Media Technology Co Ltd Ehang Egret Ks [Member] | ||||||||
High and New Technology Enterprise, tax rate | 15% | |||||||
Enterprise income tax preferential rate | ¥ 0 | |||||||
Income tax exemption period | 5 years | 5 years | ||||||
PRC [Member] | EHang intelligent [member] | ||||||||
High and New Technology Enterprise, tax rate | 15% | 15% | ||||||
PRC [Member] | EHang Egret GD [Member] | ||||||||
High and New Technology Enterprise, tax rate | 15% | 15% | ||||||
PRC [Member] | Ehang Intelligent Equipment Guanghou Co Ltd [Member] | ||||||||
Effective income tax rate reconciliation qualified research and development super deduction percent | 100% | 100% | ||||||
PRC [Member] | Ehang Yunfu [Member] | ||||||||
Effective income tax rate reconciliation qualified research and development super deduction percent | 100% | 100% | ||||||
CHINA | ||||||||
Withholding tax rate for non-PRC resident enterprises | 10% | 10% | ||||||
FRANCE | ||||||||
Income tax rate | 28% | 28% | ||||||
SPAIN | ||||||||
Income tax rate | 25% | 25% | ||||||
Minimum [Member] | PRC [Member] | ||||||||
Deductible tax losses, period | 5 years | 5 years | ||||||
Maximum [Member] | PRC [Member] | ||||||||
Deductible tax losses, period | 10 years | 10 years | ||||||
Austrian Minister Of Finance [Member] | ||||||||
Income tax rate | 25% | 25% | ||||||
Hong Kong [Member] | Not Expirable [Member] | ||||||||
Deductible tax losses | ¥ 29,411 | ¥ 31,434 | $ 4,264 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | |
Due from related parties current | ¥ 0 | $ 0 | ¥ 1,360 |
Mr Huazhi Hu [Member] | Short Term Bank Loans Guarantee [Member] | |||
Bank loans guaranteed by a related party | 49,794 | 7,219 | 10,000 |
Mr Huazhi Hu [Member] | Long Term Bank Loans Guarantee [Member] | |||
Bank loans guaranteed by a related party | 17,000 | $ 2,465 | ¥ 20,000 |
Equity Method Investee [Member] | |||
Revenue from related parties | ¥ 1,504 |
Shareholders' Equity - Summary
Shareholders' Equity - Summary Of Accumulated Other Comprehensive Income Loss (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Class of Stock [Line Items] | ||||
Balance | ¥ 334,046 | ¥ 277,700 | ¥ 315,355 | |
Other comprehensive (loss) income | 20,896 | $ 3,030 | (7,836) | (8,245) |
Balance | 124,678 | 18,077 | 334,046 | 277,700 |
Accumulated Other Comprehensive Income (loss) [Member] | ||||
Class of Stock [Line Items] | ||||
Balance | (5,886) | 1,950 | 10,195 | |
Other comprehensive (loss) income | 20,896 | (7,836) | (8,245) | |
Balance | 15,010 | 2,176 | (5,886) | 1,950 |
Accumulated Other Comprehensive Income (loss) [Member] | Foreign currency translation adjustment | ||||
Class of Stock [Line Items] | ||||
Balance | (5,886) | 221 | 10,195 | |
Other comprehensive (loss) income | 20,896 | (6,107) | (9,974) | |
Balance | 15,010 | 2,176 | (5,886) | 221 |
Accumulated Other Comprehensive Income (loss) [Member] | Unrealized (realized) gains on available-for-sales investments | ||||
Class of Stock [Line Items] | ||||
Balance | 0 | 1,729 | 0 | |
Other comprehensive (loss) income | 0 | (1,729) | 1,729 | |
Balance | ¥ 0 | $ 0 | ¥ 0 | ¥ 1,729 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 1 Months Ended | 12 Months Ended | ||||||
Jan. 16, 2020 | Jan. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 26, 2022 | Jul. 29, 2021 | Jan. 29, 2021 | |
Number of shares issued | 876,380 | 2,500,000 | ||||||
Conversion Of Ordinary Shares | 1,110,000 | 4,855,995 | 430,108 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Payment of tax witheld share based compensation | ¥ 11,230 | |||||||
Restricted Stock Units (RSUs) [Member] | Additional Paid-in Capital [Member] | ||||||||
Adjustment related to tax witholding for share based compensation | ¥ 11,230 | |||||||
Common Class B [Member] | ||||||||
Number of shares issued | 39,026,560 | 40,136,560 | ||||||
Ordinary shares, shares outstanding | 39,026,560 | 40,136,560 | ||||||
Common Class A [Member] | ||||||||
Number of shares issued | 78,300,387 | 74,309,007 | ||||||
Ordinary shares, shares outstanding | 77,309,937 | 73,723,637 | ||||||
Common Class A [Member] | Restricted Stock Units (RSUs) [Member] | ||||||||
Number of shares issued | 2,595,750 | 3,002,130 | ||||||
Ordinary shares held by depository bank | 590,750 | 1,914,630 | ||||||
Ordinary shares reserved for future issuance | 871,000 | 585,370 | ||||||
Common Class A [Member] | Over-Allotment Option [Member] | ||||||||
Shares issued for underwriters | 170,062 | |||||||
Common Class A [Member] | European asset management company [Member] | ||||||||
Number of shares issued | 1,230,769 |
Loss Per Share - Summary of Com
Loss Per Share - Summary of Computation of Basic and Diluted Net Loss Per Share (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) ¥ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 CNY (¥) ¥ / shares shares | Dec. 31, 2020 CNY (¥) ¥ / shares shares | |
Numerator: | ||||
Net loss attributable to EHang Holdings Limited | ¥ (328,221) | $ (47,587) | ¥ (313,959) | ¥ (87,619) |
Earnings Per Share, Basic, Other Disclosure [Abstract] | ||||
Weighted-average number of ordinary shares outstanding, Basic | 114,695 | 114,695 | 112,985 | 109,563 |
Weighted-average number of ordinary shares outstanding, Diluted | 114,695 | 114,695 | 112,985 | 109,563 |
Loss per share, Basic | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Loss per share, Diluted | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Common Class A [Member] | ||||
Numerator: | ||||
Net loss attributable to EHang Holdings Limited | ¥ (214,390) | $ (31,083) | ¥ (193,772) | ¥ (51,294) |
Net loss attributable to ordinary shareholders | ¥ (214,390) | $ (31,083) | ¥ (193,772) | ¥ (51,294) |
Earnings Per Share, Basic, Other Disclosure [Abstract] | ||||
Weighted-average number of ordinary shares outstanding, Basic | 74,917,000 | 74,917,000 | 69,733,000 | 64,143,000 |
Weighted-average number of ordinary shares outstanding, Diluted | 74,917,000 | 74,917,000 | 69,733,000 | 64,143,000 |
Loss per share, Basic | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Loss per share, Diluted | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Common Class B [Member] | ||||
Numerator: | ||||
Net loss attributable to EHang Holdings Limited | ¥ (113,831) | $ (16,504) | ¥ (120,187) | ¥ (36,325) |
Net loss attributable to ordinary shareholders | ¥ (113,831) | $ (16,504) | ¥ (120,187) | ¥ (36,325) |
Earnings Per Share, Basic, Other Disclosure [Abstract] | ||||
Weighted-average number of ordinary shares outstanding, Basic | 39,778,000 | 39,778,000 | 43,252,000 | 45,420,000 |
Weighted-average number of ordinary shares outstanding, Diluted | 39,778,000 | 39,778,000 | 43,252,000 | 45,420,000 |
Loss per share, Basic | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Loss per share, Diluted | (per share) | ¥ (2.86) | $ (0.41) | ¥ (2.78) | ¥ (0.8) |
Loss Per Share - Additional Inf
Loss Per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Restricted Stock Units (RSUs) [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share | 3,782,562 | 5,492,295 | 989,728 |
Restricted Net Assets - Additio
Restricted Net Assets - Additional Information (Detail) - 12 months ended Dec. 31, 2022 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Amount of restricted net assets | ¥ 122,546 | $ 17,767 |
Minimum [Member] | ||
Percentage of annual after-tax profit required to allocate to the general reserve fund | 10% | |
Percentage of annual after-tax profit required to allocate to the statutory surplus fund | 10% | |
Maximum [Member] | ||
Percentage of registered capital threshold when no longer required to allocate annual after-tax profit to general reserve fund | 50% | |
Percentage of registered capital threshold when no longer required to allocate annual after-tax profit to statutory surplus fund | 50% |
Company Financial Statements _2
Company Financial Statements (Parent Company Only) - Condensed Balance Sheets (Detail) ¥ in Thousands, $ in Thousands | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2019 CNY (¥) |
Current assets: | |||||
Cash and cash equivalents | ¥ 249,310 | $ 36,147 | ¥ 246,863 | ¥ 137,840 | |
Amounts due from a subsidiary | 0 | 0 | 1,360 | ||
Total current assets | 387,155 | 56,132 | 477,150 | ||
Non-current assets: | |||||
Total non-current assets | 143,712 | 20,837 | 58,284 | ||
Total assets | 530,867 | 76,969 | 535,434 | ||
Current liabilities | |||||
Accruals and other liabilities | 97,763 | 14,175 | 61,851 | ||
Total current liabilities | 282,341 | 40,936 | 136,447 | ||
Non-current liabilities: | |||||
Total non-current liabilities | 123,848 | 17,956 | 64,941 | ||
Total liabilities | 406,189 | 58,892 | 201,388 | ||
Shareholders' equity: | |||||
Statutory reserves | 1,191 | 173 | 1,191 | ||
Accumulated deficit | (1,450,374) | (210,284) | (1,122,153) | ||
Accumulated other comprehensive (loss) income | 15,010 | 2,176 | (5,886) | ||
Total shareholders' equity | 124,678 | 18,077 | 334,046 | ¥ 277,700 | ¥ 315,355 |
Total liabilities and shareholders' equity | 530,867 | 76,969 | 535,434 | ||
Common Class A [Member] | |||||
Shareholders' equity: | |||||
Common stock | 51 | 8 | 50 | ||
Common Class B [Member] | |||||
Shareholders' equity: | |||||
Common stock | 24 | 3 | 25 | ||
Parent Company [Member] | |||||
Current assets: | |||||
Cash and cash equivalents | 362 | 52 | 72,998 | ||
Amounts due from a subsidiary | 13,697 | 1,986 | 0 | ||
Total current assets | 14,059 | 2,038 | 72,998 | ||
Non-current assets: | |||||
Investments in subsidiaries | 213,579 | 30,966 | 290,462 | ||
Total non-current assets | 213,579 | 30,966 | 290,462 | ||
Total assets | 227,638 | 33,004 | 363,460 | ||
Current liabilities | |||||
Accruals and other liabilities | 27,432 | 3,977 | 3,744 | ||
Amounts due to the subsidiaries the VIEs | 11,230 | 1,628 | 0 | ||
Total current liabilities | 38,662 | 5,605 | 3,744 | ||
Non-current liabilities: | |||||
Net interests of the VIEs | 64,718 | 9,383 | 27,115 | ||
Total non-current liabilities | 64,718 | 9,383 | 27,115 | ||
Total liabilities | 103,380 | 14,988 | 30,859 | ||
Shareholders' equity: | |||||
Additional paid-in capital | 1,558,356 | 225,940 | 1,459,374 | ||
Statutory reserves | 1,191 | 173 | 1,191 | ||
Accumulated deficit | (1,450,374) | (210,284) | (1,122,153) | ||
Accumulated other comprehensive (loss) income | 15,010 | 2,176 | (5,886) | ||
Total shareholders' equity | 124,258 | 18,016 | 332,601 | ||
Total liabilities and shareholders' equity | 227,638 | 33,004 | 363,460 | ||
Parent Company [Member] | Common Class A [Member] | |||||
Shareholders' equity: | |||||
Common stock | 51 | 8 | 50 | ||
Parent Company [Member] | Common Class B [Member] | |||||
Shareholders' equity: | |||||
Common stock | ¥ 24 | $ 3 | ¥ 25 |
Company Financial Statements _3
Company Financial Statements (Parent Company Only) - Condensed Statements of Comprehensive Loss (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Condensed Statement of Income Captions [Line Items] | ||||
General and administrative expenses | ¥ 151,065 | $ 21,902 | ¥ 187,388 | ¥ 61,613 |
Total operating expenses | 339,263 | 49,188 | 367,765 | 204,051 |
Loss from operations | (303,950) | (44,068) | (320,536) | (91,296) |
Interest income | 4,669 | 677 | 5,143 | 3,795 |
Other expenses | 26,804 | 3,886 | 1,549 | 3,127 |
Other comprehensive (loss) income | ||||
Foreign currency translation adjustments, net of nil tax | 20,896 | 3,030 | (6,107) | (9,974) |
Total other comprehensive (loss) income, net of tax | 20,896 | 3,030 | (7,836) | (8,245) |
Comprehensive loss attributable to EHang Holdings Limited | (307,325) | (44,557) | (321,795) | (95,864) |
Parent Company [Member] | ||||
Condensed Statement of Income Captions [Line Items] | ||||
General and administrative expenses | (13,630) | (1,976) | (5,668) | (1,144) |
Total operating expenses | (13,630) | (1,976) | (5,668) | (1,144) |
Loss from operations | (13,630) | (1,976) | (5,668) | (1,144) |
Interest income | 1 | 0 | 14 | 463 |
Share of losses from subsidiaries | (253,575) | (36,765) | (299,575) | (117,678) |
Income (losses) from the VIEs | (37,603) | (5,452) | (8,730) | 30,740 |
Other expenses | (23,414) | (3,394) | 0 | 0 |
Net loss attributable to the Company's ordinary shareholders | (328,221) | (47,587) | (313,959) | (87,619) |
Other comprehensive (loss) income | ||||
Foreign currency translation adjustments, net of nil tax | 20,896 | 3,030 | (6,107) | (9,974) |
Unrealized gains on available-for-sale debt securities | 0 | 0 | (1,729) | 1,729 |
Total other comprehensive (loss) income, net of tax | 20,896 | 3,030 | (7,836) | (8,245) |
Comprehensive loss attributable to EHang Holdings Limited | ¥ (307,325) | $ (44,557) | ¥ (321,795) | ¥ (95,864) |
Company Financial Statements _4
Company Financial Statements (Parent Company Only) - Condensed Statements of Cash Flows (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash flows from operating activities | ¥ (173,458) | $ (25,148) | ¥ (121,629) | ¥ (151,696) |
Cash flows from investing activities | ||||
Net cash used in investing activities | 56,400 | 8,176 | (33,401) | (66,209) |
Cash flows from financing activities | ||||
Net cash (used in) provided by financing activities | 106,740 | 15,475 | 266,947 | 42,680 |
Net (decrease) increase in cash and cash equivalents | 2,287 | 332 | 106,850 | (181,489) |
Cash, cash equivalents and restricted cash at the beginning of the year | 247,023 | 35,815 | 140,173 | 321,662 |
Cash, cash equivalents and restricted cash at the end of the year | 249,310 | 36,147 | 247,023 | 140,173 |
Parent Company [Member] | ||||
Condensed Cash Flow Statements, Captions [Line Items] | ||||
Cash flows from operating activities | (13,738) | (1,992) | (4,874) | (681) |
Cash flows from investing activities | ||||
Capital contribution to Group companies | (58,898) | (8,539) | (190,026) | (66,599) |
Other investing activities | 0 | 0 | 150 | (484) |
Net cash used in investing activities | (58,898) | (8,539) | (189,876) | (67,083) |
Cash flows from financing activities | ||||
Other financing activities | 0 | 0 | 256,947 | (7,343) |
Net cash (used in) provided by financing activities | 0 | 0 | 256,947 | (7,343) |
Net (decrease) increase in cash and cash equivalents | (72,636) | (10,531) | 62,197 | (75,107) |
Cash, cash equivalents and restricted cash at the beginning of the year | 72,998 | 10,583 | 10,801 | 85,908 |
Cash, cash equivalents and restricted cash at the end of the year | ¥ 362 | $ 52 | ¥ 72,998 | ¥ 10,801 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Assets Measured or Disclosed at Fair Value on a Recurring Basis (Detail) - Fair Value, Recurring [Member] ¥ in Thousands | Dec. 31, 2021 CNY (¥) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Trading debt investments | ¥ 65,108 |
Total assets measured at fair value | 65,108 |
Quoted Price in Active Market for Identical Assets (Level 1) [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Trading debt investments | 0 |
Total assets measured at fair value | 0 |
Significant Other Observable Inputs (Level 2) [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Trading debt investments | 65,108 |
Total assets measured at fair value | 65,108 |
Unobservable Inputs (Level 3) [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Trading debt investments | 0 |
Total assets measured at fair value | ¥ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) | Dec. 31, 2022 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Percentage Of Assets Invest In Temporary Assets | 100% |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Leases of Lessee (Detail) - Dec. 31, 2022 ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Capital Lease Obligations [Abstract] | ||
2023 | ¥ 1,750 | $ 254 |
2024 | 1,750 | 254 |
Total | ¥ 3,500 | $ 508 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) | Apr. 25, 2023 CNY (¥) | |
Subsequent Event [Member] | ||
Loss Contingencies [Line Items] | ||
Loss contingency accrual | ¥ | ¥ 3,375 | |
Pending litigation [Member] | Company and chairman and chief executive officer of the company [Member] | ||
Loss Contingencies [Line Items] | ||
Damages sought value | $ 10,000 | |
Pending litigation [Member] | Company and chairman and chief executive officer of the company [Member] | Compensatory damages [Member] | ||
Loss Contingencies [Line Items] | ||
Damages sought value | 3,500 | |
Pending litigation [Member] | Company chairman chief executive officer and variable interest entity [Member] | Compensatory damages [Member] | ||
Loss Contingencies [Line Items] | ||
Damages sought value | 3,500 | |
Pending litigation [Member] | Chief executive officer [Member] | ||
Loss Contingencies [Line Items] | ||
Damages sought value | 5,000 | |
Pending litigation [Member] | Chief executive officer [Member] | Compensatory damages [Member] | ||
Loss Contingencies [Line Items] | ||
Damages sought value | $ 3,500 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 2 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Apr. 30, 2023 | Dec. 31, 2022 | |
EHang Egret GD [Member] | EHang GZ [Member] | |||
Subsequent Event [Line Items] | |||
Business combination step acquistion equity interest in the acquiree percentage | 60% | ||
EHang Egret GD [Member] | EH Kashi Ehang Egret Media Technology Co Ltd Ehang Egret Ks [Member] | |||
Subsequent Event [Line Items] | |||
Variable interest entity ownership percentage | 60% | ||
Subsequent Event [Member] | EHang Egret GD [Member] | EHang GZ [Member] | |||
Subsequent Event [Line Items] | |||
Business combination percentage of voting interests acquired | 40% | ||
Payment to acquire business gross | ¥ 4,000 | ||
Business combination step acquistion equity interest in acquiree including subsequent acquisition percentage | 100% | ||
Subsequent Event [Member] | EHang Egret GD [Member] | EH Kashi Ehang Egret Media Technology Co Ltd Ehang Egret Ks [Member] | |||
Subsequent Event [Line Items] | |||
Business combination equity interest disposed off | 60% | ||
Proceeds from the disposal of equity interests in variable interest entity | ¥ 0 | ||
Subsequent Event [Member] | Private Placement Subject To Overseas Direct Investment Approval [Member] | |||
Subsequent Event [Line Items] | |||
Proceeds from the issuance of equity | ¥ 10,000 | ||
Subsequent Event [Member] | Supplemental Agreement With Investor [Member] | |||
Subsequent Event [Line Items] | |||
Repayment of short term debt maturing in three months or more | ¥ 69,861 |