company

EHang亿航智能 EH

Country国家 China中国

Systems系统 Work工作 · Senses感官 · Brain大脑 · Immune免疫

Bottlenecks瓶颈 P03 Fusion & state estimation融合与状态估计 · P12 Long-horizon planning & recovery长时程规划与恢复 · P16 Safety validation & certification安全验证与认证 · P18 Vertical workflow ROI垂直工作流 ROI

Market cap市值 Live, via TradingView.实时数据，来自 TradingView。

Autonomous passenger-grade aerial vehicles and an operations platform.

自动驾驶载人级航空器与运营平台。

What it doesAutonomous passenger-grade aerial vehicles and an operations platform.

在干什么自动驾驶载人级航空器与运营平台。

Name sheetEHang

Why it mattersAirworthiness certification is the hardest P16 gate on the map; it proves that certification creates optionality, and equally that certification is not revenue.

为何重要适航认证是全图最硬的 P16 门槛：它既证明认证能够带来期权，也证明认证不等于收入。

Caveat

Only four units delivered in Q1 2026, with revenue of RMB 25.7m and an operating loss of RMB 127.9m. Commercialisation and funding needs have not cleared the hard gates.

风险提示

2026 年 Q1 仅交付四台，收入 2,570 万元，经营亏损 1.28 亿元。商业化与资金需求均未过硬门槛。

ProductAutonomous passenger-grade aerial vehicles and operations platform

Value accrualAirworthiness certifications, safety case, operations, and infrastructure ecosystem

Key riskQ1 2026 delivered four units; revenue RMB25.7m and operating loss RMB127.9m. Revenue is highly volatile; safety, liability, airspace, vertiports, and operator unit economics dominate.

Class: public
Country: CN
HQ: Guangzhou, China
Layer: Autonomous aviation / Application
Systems: work · senses · brain · immune
Caveat stance: avoid
Ticker: EH
Exchange: Nasdaq
Purity: High
Valuation tier: 3
Last verified: 2026-08-12
Confidence note: High
Sources: S-PUB-022
Translated fields: what_it_does_en · why_it_matters_en · caveat_en
Chain position: midstream

COMPANY RESEARCH公司研究 Commercial evidence商业证据 Expand +展开 + Collapse −收起 −

Commercial evidence shows how far a company has moved from a product claim to repeatable customer value. We look for a defined customer task, paid deployment, operating results, the human help required, and economics that can support repeat use. Missing information stays unassessed; it does not count as evidence against the company.商业证据用于判断一家公司从产品宣称走到了可重复客户价值的哪一步。我们关注明确的客户任务、付费部署、运行结果、所需人工协助，以及能否支持重复采用的经济性。缺失信息保持未评估，不会被当作对公司的负面证据。 Each item below applies only to the cited document and period. It should be read with its evidence class, review date, and stated limits.以下每项内容仅适用于所引文件与期间，阅读时应同时考虑证据类别、核查日期与已说明的局限。

Customer and task
客户与任务: Not yet assessed in this structured record.本结构化记录尚未评估。
Deployment and payment
部署与付款: Not yet assessed in this structured record.本结构化记录尚未评估。
Task results and human assistance
任务结果与人工协助: Not yet assessed in this structured record.本结构化记录尚未评估。
Cost and repeat purchases
成本与复购: Not yet assessed in this structured record.本结构化记录尚未评估。
What the evidence cannot establish
证据的局限: Not yet assessed in this structured record.本结构化记录尚未评估。

How to evaluate commercial evidence如何评估商业证据