Huazhi Hu | Founder, Chairman & CEO |
Edward Xu | Chief Strategy Officer |
Richard Liu | CFO |
Tim Hsiao | Morgan Stanley |
[Foreign Language]
Thank you, Mr. Hu. Hello, everyone. I'm Edward Xu, Chief Strategy Officer of EHang.
Huazhi Hu | Founder, Chairman & CEO |
Edward Xu | Chief Strategy Officer |
Richard Liu | CFO |
Tim Hsiao | Morgan Stanley |
[Foreign Language]
Thank you, Mr. Hu. Hello, everyone. I'm Edward Xu, Chief Strategy Officer of EHang.
help CEO's to into glad I'm translate remarks the English. First, everyone. Hello, all Thank Earnings Conference joining Call our you for today. of I would progress half business with you like to start for by the sharing our XXXX. first some highlights I the half. give Then on second will business plans our for you
I an our quarterly goal urban our platform empowered EHang you air earnings with the autonomous in UAM relentless efforts in made preparations few by To have exciting leveled mobility we away operation with achieve aerial aim shared call, As careful last has to this past vehicles. become operator, and the months.
know, in air products VT-XX is Passenger-grade besides the medium industry, and field you demonstrated also of AAV flagship XXX. newly to range EHang intra-city fully our release of to which The AAV of As XXX, released is the EHang the the designed it we strength as complementary short technological our for mobility. VT-XX one our
looking EHang with to is many launch priority trial EHang of recent have I know done reality. But taxi of and Our AAVs, to still taking are make not made to people with is mobility you the only past our believe in number build to build essentially passengers during that cargoes intra-city but first, urban flights a years. think of a we air application XXX quite ride air carrying what to XXX There a experience. flight has safety. for forward I EHang few years
certification of after in various we airway To products improvement, on process, perspectives. from have help the think formulation trial working Over and have good record the abundant safety may the have with and record. standards us upcoming flights also safety we of making further accumulated recently. been which been completion making been progressions our of for top have Meanwhile, comprehensive experiences AAVs operations solution seriously [ph] we years, we that the ensure
first X delivered second half units AAVs in XX and quarter XX in we of terms the of the XXX first the including units XXXX, in of sales, In EHang quarter. units
in our is an last a in model, mentioned also operation is AAV reflected from performance. we which sales our product conference As transitioning actual gradually sales-centric call, platform into earnings model EHang
glad I'm our Routes Initiative. Air to share progress the Next, XXX of with you Mobility
the As South of now, China, have X to focusing located transportation island tourism altitude operation of China position the are South as we ones in We and China. screened mode expand addition most gradually suburban operated to are areas tested in other and on that for our low hopping, plan aerial which partners. our started We by and operations to by spots, new transportation. in
are region. have So far, operation Guangdong the province Yangtze and in spots, in X targeted another River XX self-run Delta we X
the country locations. our customers Certification to XX Type January additional plan on We over project conduct XX to experts assist our also operations going has is by spearheaded the CAAC collaboration for accepted It the on team to our process. Meanwhile, with officially CAAC from has application recruiting XXXX. of XX, well. certification in XXX start EHang very
review at team of meetings the between of design complete EHang Guangzhou on held basis been has several understanding and of of consensus We reached in features have Critical Hezhou. expert XXX. EHang rounds the and inspections the
as accordance proceeding process are Type the in orderly planned. Certification an Now manner in
as priority. Type company's the We the top EHang Certification have program taken XXX
of the the third work passenger-grade airworth quarter AAVs a CAAC with this EHang in expect will [ph] standard We industry. to be unprecedented as which the year, the for in formulate certification aviation XXX to
months. next for to XXX six EHang obtain four the In expect to addition, Certificate we the Type within
relevant to within schedule of year. this inspection certification strive and all will ahead We complete the work
May of which up type to new In designed range of to released VT-XX, is in distance for have urban a air XXX we designed of with VT-XX designed eVTOL, products, this travel a mobility. terms intra-city brand time number mobility. is undergoing year, our kilometers a up focusing flight to to internal new good the complements of XXX, product longer has progress. of hybrid EHang of is business air flights medium short Currently, on VT-XX to This a made and the existing XXX large travel minutes.
in play role rescue new The we firefighting, June Yunfu, filled put the area increased. the Phase about square by XXXX, Quality is other AAVs Supervision the China auxiliary EHang in operation places. firefighting XXXF XXX Testing units. many equipment for for has designed technical promote, we and officially National certified which the the capacity and scenarios January technical activities of firefighting. our Subsequently, capacity meters X the and and of of others. commercialization initial Fire-Fighting advantages, of various the successfully orders. EHang the believe the production XX,XXX of passenger-grade Our XXX it sign service a will annual production covers gap of aspired of real the in by XXXF, the completed EHang the related will used so we facility model, deliver mainly to has With the our In products facility an important EHang of EHang paved and XXXF AAV. reliability way and products high-rise the urban With the Guangdong of XXXX, in Equipment Center, into been in production XXXF emergency have examination gross our floor of start
right hope the which to to due Guangdong. the reschedule cases off was new still We at the local Although unexpectedly of to of in Yunfu lift the after government held Day, production event be re-emergence the XX event COVID-XX ban. August the the facility the on called Investor been before traveling scheduled by has
In regulatory carry year, into to encourage trial large methods opportunities in-person to of the CAAC's the expect certification continue then the trial operation will of communications. which flights We integrate experiences a first process. provide flights, and with in half are line to the for with the trial visits we out and number investors first
made a China in reached Digital France, Sea industry countries. by In successfully collaborations in Guangzhou cetera. Beijing Guangzhou to and from Summit Italy transporting we ceremony trial by time and involved Super In demo and first participated opening Fuzhou, in flight number quarantined XXX Europe, et to and supplies example, at Chinese with XXXL League over deeply Hengqin emergency been have Zhuhai China For and for Union Island, in supported anti-COVID-XX Ao other urban and the we June, government in Dong we and South in the using the medical and air AAVs. extensive the the the a of EHang mobility the in areas in Japan Spain, campaign projects of and have partners EHang large selected and European the
Looking the AAV forward we half continue to expect deliver of the second products. year, to sell to service of our and
cash of business future. least to a also development have of in our for smooth sufficient reserves transition our to strategic we XX XX months the business maintained model, the During at support the progress
make move professional increasing the the important so to expanding team through may of eventually income existing view Routes advance Although short air as sales the will to the lead from and frequencies strategic see implementation towards the UAM industry. continue main step-by-step of will mobility And an Air EHang it spots continuously Initiative, more flights, to upstream air say the our create in XXX start to the our trial Meanwhile, commercialization potential to decline gradual company goal Mobility become mobility which And be vigorously and operations operation like and more of urban operation a our to revenue very world's as would of we transition pillar term that more and routes, to EHang preparations that we our air operator. mobility and expanding are revenues, our downstream soon. enable I operations. the the companies are first urban of platform pleased to joining becoming we emerging last,
We continue EHang competitiveness to were investor Those lead for way will all the Mr. our and Hu's in our UAM Thank support. maintain comprehensive are global that you remarks. market. the confident
quarters our the remark, his to and on future. Following the for going plan our first elaborate strategic in two transitioning I'm
As XXXX, down to second operations as as defined well. global period build we an on our led COVID-XX have in and operation switched Moreover, South to have of we in advanced focus platform, level. AAV towards our impact quarter sales which goal UAM our in sales by AAVs China the had in adverse the the our a re-attack the scale deliveries more of
we hand, started to other explore the On field UAM practical of the operations.
X.X. new Hainan We to organizations. and UAM team Kong from class call Helicopter, to as Kong our valuable able leverage backgrounds for and AAVs, experiences are BMW, recruiting UAM leading we aviation built and such believe et cetera, IBM, build world we Airlines, Specifically, CITIC Airbus, mobility Hong we one whole Express, industry by companies operation platform Airlines, a Hong in professionals operation their
More for UAM Initiative have our spots XXX by routes. and to appropriate started importantly, we implement Routes testing screening
have So operations for screened tourism aerial position offer China. suburban tested We to in transportation our spots South far, we low mode altitude operations, new AAV island mostly a and X and hopping, for transportation. located
Hong latest is X Area areas targeted in Bay spots, in expand plan Guangdong Greater we self-run upon Our operation Based in XX initial have China. X Eastern focus Guangdong, plan, on Kong-Macao to a gradually our the including other and China. to and operation
including broadly achieving able Guangdong industries and aviation, We XX construction, and our from operations launch in and in their organizations are XX customers are government Guangxi. to such in as resources, land are transportation island in working partners, estate, planning our in with to our goals, tourism, and share local infrastructure. In help we to operational who including also the spots, business especially authorities X and real valuable -
officially give Administration to for advantage [ph] UAM is start China cooperation team up to recruiting experts of Type XX industry. well. set the mover going the is process. has certification with application accepted a over a on on Certification has project the Civil XXX XXXX. nationwide our build Meanwhile, goal Aviation first to moat January Our The very EHang CAAC It our in of XXth us by
and EHang several operations of design, held safety We the and XXX AAV. our have meetings conduct inspections airworthiness to reviews of rounds of
further four are operations shall will six scale to the of larger XXX the our months Certification way EHang pave We AAVs. granted hopeful CAAC, which by next and for tests reviews be in could when completed for Type the the that be
process. Air accelerate will testing by we continue our Mobility Initiative Urban ahead, the to Routes XXX Looking implement
local our strengthen existing key with business entities, partnerships CAAC, including and will government We organizations.
acquire static demonstrating ancillary over models, Meanwhile, operational the provide look better actively generating monetize to to expand financial schools, wedding you. I will Thank from AAVs, of go the cetera. advertisement, turn Richard, Richard our results. displaying now camps, ahead. Liu, et Mr. expect shows, at revenues student which new call should by opportunities to training CFO, business various scale. also resources for will this our successful model our By further to stage. we We our please
Edward. Thank you, And everyone. hello,
Before earnings analysis otherwise stated here. are contained key I numbers on into presented are to basis, details, note of website. RMB, specified. please in on that press are points some percentage IR in a Detailed our changes all go highlight going All unless unless which our the I'm releases, are available otherwise. year-over-year
strategically oriented platform product oriented sell is As our The model. more time shift business and the is at third towards and same transitioning a model, to we gradual operation platform are AAV shifting parties important. into operation an
of RMB increase XX.X% units year. anticipated series XX Our balance XXXX, XX were in QX revenues in in because EHang compared sold transition last to QX of decrease million, million, this were XXX QX transition. XX.X QX strategic The QX AAVs an impact This total in XX.X% units AAVs decrease period. was sold of QX a units a is year. revenues year-over-year. units passenger-grade year-over-year of RMB indicated sending compared strategic this were sold to delicate In last in X X QX during XX of revenues revenue
was VT-XX models, expenses command margin was of filing to including in margin annual developing to the This QX mainly to mobility transportation designed year-over-year. The percentage mainly overall products of increase higher last an project that RMB in virus RMB long for in year. AAV X.X the high share-based compared and impacts XXXX of the operating of period X.X operating which continue Adjusted points due QX improve in million XX%, In million our continuous increase a Adjusted R&D outbreak the in million revenues the in QX adjusted RMB to adjusted continuous million optimization due related margin. RMB XX.X XX.X system and provisions margin the to increase structure million compensation operating gross smart city management QX. same QX to QX XX.X cost in with XXXX structure compared new by to was XX.X increase QX for addition and was and higher released expenses XX.X control XX.X%, completion cost million, percentage QX RMB points reached intra-city last We a operating compared numbers QX this RMB QX the expenses, XX.X million expenses, additional report. to in range of to loss QX, are from QX year. of increases RMB million last in and air upgrading XX.X newly million to year. and optimize expenditures the was of our XX.X that by operating and gross increased in RMB gross improvement expenses, excluding in record X.X due year. in prudent to last in lower related for air RMB loss extended
the which adjusted in for we sheet XX in million million was XX.X QX last XXX.X RMB of RMB the cash QX net cash are short XX XXXX that adequate operations respect compared in with quarter year. XX.X investments, ended the with balance equivalents QX that second to cash believe As XX.X In XXXX RMB was million a flow, and year to and in RMB with last loss term months. of and of we and support compared the million result, RMB next million QX XX.X of
the operation in outlook. we value this business This and business healthy [ph] million. has that minimize unique positive operating run the was cash And importantly, been quarterly in reflects cash burns QX More continuous process. QX inherent time taking of flow our XXXX. RMB again a efforts XX.X and let's in again in now, development company the year Last to to the the turn achieved
range XXXF, we maintain to as the That of RMB into between the XXX remarks. commercialization forecast annual the more prepared strategically million XXXX revenue expect model, firefighting transition operation products. platform XXX among other EHang in a and and We RMB in model million, oriented our conclude the
Operator, So go questions. please ahead. let's now open the for call
We Certainly. Tim [Operator ahead. Please from Morgan have go Stanley. of Instructions] the the from question first coming line Hsiao
my side. Question And Hello. my the congrats thanks Hi, taking for on from results. questions.
beginning one transportation terms of first mentioned progress The think Mr. I good transforming urban the air the operator. call Hu in the this a has of at company that into
many volume of the information, transportation by could share of contributed revenue you revenue question or of first the some could second So in because shipped is full XX on basis, you a half. year this the please kind be further related my how air mentioned about much how or EHang sales, percentage units the urban operation? And
questions. have are guidance would my So that the So need many based guidance, what's light for your like EHang something some Thank still in of on And progress. example, the volume? half the means COVID latest government contributed rising those our second by you. just it to XXXF? regarding we units project, the lockdowns, But of how be
Edward. because your may Okay. first have I'll everything know, we your question question, numbers answer the Thanks, - first answer there. Tim. I'll try This you to not is
that half, we the sales centric know regulatory is from the Certification. operation model platform the right. more operator moving been you And - now model, As towards the i.e., in issue, but have first the key still Type bottleneck - gradually
are But moving achieve on towards do to early to that's we focusing set our because we goal, So so in order is are to more up especially why operation we Type preparations Certification. this need why very and also the team. this
a class organizations professionals recruited know, accumulate set enough we we team. to experiences. you also, up talented need very from And and As world
operation, made you resources. of human of so different technically and visited a preparation this in many lot spots we of in also quarter see, testing as and second the so real this especially And we and places did And year, can screening right. for
So that's all.
I right. us still to step think necessary very for This prepare in necessary all do, are in stage to we is very early these a elements. the
estimate as of RMB with in target to more of the and revenues. of our by after yeah, release our you going smoothly. of far, AAV, And so launch But few each a the far, see said, routes are we our operation is is this obtaining the work. the half, type operational And very in to which certificate. X proof million so I is CAAC, for going next terms approval so revenues, the are about to the I the think – based second based generate upon But which that means we upon months, the
So at we from trying opportunities this revenue. stage, ancillary to the explore are business the
displaying bodies would good right. to customers. a example, contract for also with their our up who with like advertisement our And the very logos made For some pay round AAV, we we in of corporate client
second revenue, only is with customer contributed one example, right, RMB for XXX,XXX For quarter, corporate one in customer. this which they about
we generating still, existing not sell for But trying acknowledge full this AAV, we our and to after with which planned of it too the we pave revenues ride are potential that of accumulated, is way a definitely early equipment, experience of ways are certification. able ticket the because is will of passengers the So tap for different our commercial to flights explicitly revenues from right. further taking right. our trial lot commercialization, But
of we collaboration. Mr. Hu very as terms in mentioned, did well think, this I So CAAC
Type months right. Certification so are to could And that four we very within be next hopeful the obtained six
myself And clear Richard. yeah, I you. the hope So by will answered question next made to I be
this Liu. question. Thanks is Richard the Tim, for
product the I question sales regarding the understand kind of The second situation.
focus earlier, mentioned in product quarter, second As But it we're transition operation into half in that a several actually - more our have this been as sales XXXF, SFE by our by the will the And that has we an and oriented city, working EHang the rescue as we to period model, re-attack an et remaining earnings those discussed from to explained be completion, had outbreak technical the completed. our After in local towards been the product the with in EHang Guangzhou which fire in model our of Hezhou the city, AAV the with department focused platform the or looking technical is expected sales firefighting Edward examination in sales the the department on the strategic emergency as of the adverse examination Qingdao in drills Guangdong lot product COVID-XX in departments. of impact utilize urban remarks, quarter. cities also, year, fire cetera, a such model. second XXXF City, release cities, those we
this helped have the of cities teams a department materialize laid EHang in the there XXXF. And foundation will onward has actual So been good with be more progress. the in And cities business for solid trying up following order. our to ongoing commercialization relevant those
Thank very Great. too. Edward you all the Thank much. Appreciate details, you you.
you. Thank
- the the pardon Instructions] We ahead. from you. Thank next [indiscernible] coming Instructions] [Operator line [Operator me. question, is a have of this We go have Please
Yes. Okay.
Just of to interesting - business. you try far one understand are your I that shift question to product. more are you the our you forward. Basically as sell to not the investors as to some going still have understand saying to facility better But
don't kind of like some say, you mobility do you you like new authorization, approval. aerial - let's these big would need. need have okay, a But of on? and all urban that going know you be only we infrastructure, the managing guys be you that sort into we mention projection the the I when if say product so this need say, frameworks guys, And So road making will Airbus future, think Boeing, just will you to the
have, CapEx cash flow. speaking, free never or a completely let's may to you routes believed to operating lets make because and I the translate you one is, need think lot a in vis-à-vis product could CapEx, the XX how because But as the into because you can you of the you maybe. well, potential - of I me, building product, say, China give mentioned investors may Frankly to say, that And frankly, term difficulty for in make say, - get, question to we the like Spain product So money Italy, for that cash in flow? company add units doesn't a like routes, XX make a your interesting or but of free for I to You of you translate in for have Italian a you business, lot the flavor much. have new maybe authorized you can tend have is, new is routes. it's have you have effect let's lot pretty [ph] you to of route, which already XX current really lot too a you because don't CapEx if
of free is platform give Thank just to into cash flavor say, let's one if flow? with can So how to me right you tell, one route you. a operating the move
question. Thank you for your
saying Let has me we products. Yunfu in we year, facility just XXX not units which per are selling right. capacity our that clarify - to are not our are and we - our that Actually, new increased been launched
be commercialization. But more version, in So as Without as maybe the on for our on you way terms as XXX, ultimate version operation important. of know, firefighting we'll well. some there basically, well and still sales EHang XXXF, more is the the logistics EHang were we very operation on focusing no mentioned, standard is the and because focused as operation, are going maybe the Richard
a meanwhile, So from still we interest receive buy. - our are to who but willing customers good
Because AAV the depending we the the XX%, be can as high operating as right. scale. operating real And margin are launching XX% are the on we customers. as about our operation we right, reason route of for or operation estimate the to demonstrate the - even So of model successfully sales can that value, and set our it just launching our so model is
who for which buy to successful right, be our commercial AAVs would can our right. so customers a purposes, for attractive - investment, very prove So be
operation. we we customers So hand. are helping ways. one hand, are also we two are On actually launching And our launch the to our doing on operation
is about. hand, And and other But the Mobility all us. customers the that's to customers AAVs are Initiative our from Route welcoming we so so consolidate we on we value XXX what platform, that's but platform. And the you new on buy our integrate, of - this our know, the Air operations
I I this And make answers this question. hope hopefully, So your clear. very
Yes. Thank Okay. Yes. you.
So kind facility? say, still all an shift when But peculiar are other the - production you produce say of you retail still you integration let's between is internal this, your going to for basically? and still
Yeah.
remain still OEM will We the producer.
will continue our produce We for to That's yes. AAVs, sure.
Thank no please the more line, I you. Seeing sir? questions would ahead, - like go on
Thank your And next thank call forward you, and on operator. look Thank your and reporting all you operator. you our all for participating interest to on for to appreciate quarter We today's support. again you, progress.
today. Ladies you and concludes gentlemen, - concludes your you. participation. Ladies that conference for and that for gentlemen, call our all thank Thank
You now. may disconnect
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