Balance Sheet EHang Holdings Limited

Equities

EH

US26853E1029

Aerospace & Defense

Market Closed - Nasdaq Other stock markets 04:00:00 2024-09-06 pm EDT			5-day change	1st Jan Change
11.77 ^USD	-4.31%		-19.16%	-29.94%

Sep. 04	EHang Rebukes Rumors Linking to Chris Hu Investigation as Shares Tumble	MT
Aug. 28	UBS Initiates Coverage on EHang With Buy Rating	MT

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Published financial data: EHANG HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	122M	180M	56.81M	44.32M	117M
Total Revenues	122M	180M	56.81M	44.32M	117M
Cost of Goods Sold, Total	50.6M	73.91M	20.78M	15.1M	42.12M
Gross Profit	71.22M	106M	36.03M	29.22M	75.31M
Selling General & Admin Expenses, Total	63.8M	98.8M	231M	204M	210M
R&D Expenses	57.17M	105M	137M	135M	167M
Other Operating Expenses	-3.41M	-6.58M	-11.2M	-6.09M	-6.23M
Other Operating Expenses, Total	118M	197M	357M	333M	372M
Operating Income	-46.34M	-91.3M	-321M	-304M	-296M
Interest Expense, Total	-837K	-2.34M	-1.8M	-3.82M	-14.95M
Interest And Investment Income	883K	3.8M	5.14M	4.67M	8.48M
Net Interest Expenses	46K	1.46M	3.34M	850K	-6.47M
Income (Loss) On Equity Invest.	-74K	236K	-276K	196K	-1.56M
Currency Exchange Gains (Loss)	109K	-333K	-827K	-1.49M	394K
Other Non Operating Income (Expenses)	-976K	-1.9M	4.54M	-21.59M	1.89M
EBT, Excl. Unusual Items	-47.24M	-91.84M	-314M	-326M	-302M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	103K	-138K
Legal Settlements	-	-	-	-3.38M	-
EBT, Incl. Unusual Items	-47.24M	-91.84M	-314M	-329M	-302M
Income Tax Expense	754K	206K	134K	79K	206K
Earnings From Continuing Operations	-47.99M	-92.04M	-314M	-329M	-302M
Net Income to Company	-47.99M	-92.04M	-314M	-329M	-302M
Minority Interest	-551K	4.42M	-63K	1.11M	641K
Net Income - (IS)	-48.54M	-87.62M	-314M	-328M	-302M
Preferred Dividend and Other Adjustments	27.25M	-	-	-	-
Net Income to Common Incl Extra Items	-75.79M	-87.62M	-314M	-328M	-302M
Net Income to Common Excl. Extra Items	-75.79M	-87.62M	-314M	-328M	-302M
Per Share Items
Net EPS - Basic	-2.48	-1.6	-5.56	-5.72	-4.97
Basic EPS - Continuing Operations	-2.48	-1.6	-5.56	-5.72	-4.97
Basic Weighted Average Shares Outstanding	30.57M	54.78M	56.49M	57.35M	60.75M
Net EPS - Diluted	-2.48	-1.6	-5.56	-5.72	-4.97
Diluted EPS - Continuing Operations	-2.48	-1.6	-5.56	-5.72	-4.97
Diluted Weighted Average Shares Outstanding	30.57M	54.78M	56.49M	57.35M	60.75M
Normalized Basic EPS	-0.98	-0.97	-3.47	-3.53	-3.1
Normalized Diluted EPS	-0.98	-0.97	-3.47	-3.53	-3.1
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	-40.67M	-85.1M	-313M	-295M	-283M
EBITA	-46.34M	-91.3M	-321M	-304M	-295M
EBIT	-46.34M	-91.3M	-321M	-304M	-296M
EBITDAR	-32.22M	-76.08M	-302M	-281M	-271M
Total Revenues (As Reported)	122M	180M	56.81M	44.32M	117M
Effective Tax Rate - (Ratio)	-1.6	-0.22	-0.04	-0.02	-0.07
Total Current Taxes	803K	22K	134K	79K	206K
Total Deferred Taxes	-49K	184K	-	-	-
Normalized Net Income	-30.08M	-52.97M	-196M	-203M	-188M
Supplemental Operating Expense Items
Advertising Expense	3.42M	1.96M	2.11M	2.94M	2.92M
Selling and Marketing Expenses	26.86M	37.19M	43.23M	53.12M	60.39M
General and Administrative Expenses	36.95M	61.61M	187M	151M	150M
Research And Development Expense From Footnotes	57.17M	105M	137M	135M	167M
Net Rental Expense, Total	8.46M	9.02M	10.46M	14.29M	11.7M
Imputed Operating Lease Interest Expense	2.26M	4.09M	4.02M	3.8M	7.7M
Imputed Operating Lease Depreciation	6.2M	4.93M	6.44M	10.5M	4M
Stock-Based Comp., COGS (Total)	365K	2.44M	-	-	-
Stock-Based Comp., R&D Exp. (Total)	5.12M	27.08M	31.66M	36.32M	53.2M
Stock-Based Comp., S&M Exp. (Total)	743K	10.88M	18.33M	22.12M	18.96M
Stock-Based Comp., G&A Exp. (Total)	8.52M	14.45M	71.15M	38.45M	79.33M
Total Stock-Based Compensation	14.75M	54.86M	121M	96.9M	151M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	322M	138M	247M	249M	228M
Short Term Investments	7.67M	49.27M	65.11M	-	71.89M
Total Cash And Short Term Investments	329M	187M	312M	249M	300M
Accounts Receivable, Total	60.12M	164M	56.19M	31.1M	34.79M
Other Receivables	-	-	1.36M	-	-
Notes Receivable	-	-	-	4M	2.16M
Total Receivables	60.12M	164M	57.55M	35.1M	36.95M
Inventory	18.49M	47.09M	78.08M	79.27M	61.66M
Prepaid Expenses	-	-	-	11.16M	6.7M
Restricted Cash	-	2.33M	160K	-	-
Other Current Assets, Total	20.56M	24.06M	29.4M	12.32M	47.6M
Total Current Assets	429M	424M	477M	387M	453M
Gross Property Plant And Equipment	33.99M	43.36M	59.04M	156M	161M
Accumulated Depreciation	-17.72M	-22.49M	-25.22M	-35.22M	-41.47M
Net Property Plant And Equipment	16.27M	20.87M	33.82M	121M	119M
Long-term Investments	2.98M	2.92M	6.14M	9.84M	18.37M
Other Intangibles, Total	1.21M	1.06M	745K	1.96M	2.43M
Accounts Receivable Long-Term	-	16.24M	-	-	-
Loans Receivable Long-Term	-	14.93M	15.21M	9.98M	4.22M
Deferred Tax Assets Long-Term	184K	-	-	-	-
Other Long-Term Assets, Total	252K	4.06M	2.37M	1.39M	1.44M
Total Assets	449M	485M	535M	531M	599M
Liabilities
Accounts Payable, Total	30.08M	60.41M	54.1M	35.46M	35.1M
Accrued Expenses, Total	45.57M	38.9M	45.19M	61.66M	71.68M
Short-term Borrowings	5M	15M	10M	108M	69.8M
Current Portion of Long-Term Debt	312K	30M	3M	13.15M	3.54M
Current Portion of Leases	-	-	-	5.52M	5.6M
Current Income Taxes Payable	5K	-	4K	7K	29K
Unearned Revenue Current, Total	10M	8.32M	16.03M	22.81M	41.86M
Other Current Liabilities	4.63M	5.42M	8.12M	36.1M	22.47M
Total Current Liabilities	95.6M	158M	136M	282M	250M
Long-Term Debt	32.53M	-	17M	3.85M	9.31M
Long-Term Leases	-	-	-	69.91M	75.31M
Unearned Revenue Non Current	140K	3.03M	2.17M	2.93M	1.49M
Deferred Tax Liability Non Current	292K	292K	292K	292K	292K
Other Non Current Liabilities	5.49M	5.48M	5.48M	6.87M	7.96M
Total Liabilities	134M	167M	161M	366M	344M
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	72K	72K	75K	75K	80K
Additional Paid In Capital	1.02B	1.08B	1.46B	1.56B	1.95B
Retained Earnings	-719M	-807M	-1.12B	-1.45B	-1.75B
Comprehensive Income and Other	10.2M	1.95M	-5.89M	15.01M	15.08M
Total Common Equity	312M	276M	333M	124M	214M
Minority Interest	3.78M	41.38M	41.44M	40.42M	40.43M
Total Equity	315M	318M	374M	165M	254M
Total Liabilities And Equity	449M	485M	535M	531M	599M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	54.73M	55.43M	56.93M	58.17M	63.29M
ECS Total Common Shares Outstanding	54.73M	54.81M	56.93M	58.17M	63.29M
Book Value / Share	5.69	5.04	5.84	2.14	3.38
Tangible Book Value	310M	275M	332M	122M	211M
Tangible Book Value Per Share	5.67	5.02	5.83	2.1	3.34
Total Debt	37.85M	45M	30M	200M	164M
Net Debt	-291M	-142M	-282M	-49.24M	-137M
Debt Equivalent Oper. Leases	67.64M	72.15M	83.68M	114M	93.59M
Minority Interest, Total (Incl. Fin. Div)	3.78M	41.38M	41.44M	40.42M	40.43M
Equity Method Investments, Total	64K	-	3.22M	6.92M	13.45M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	31.38M	57.42M	62.46M	49.13M	45.47M
Inventories - Work In Process, Total	2.46M	1.93M	17.13M	4.94M	7.9M
Inventories - Finished Goods, Total	16.97M	19.92M	27.17M	28.19M	15.33M
Machinery, Total	15.17M	16.37M	28.7M	37.24M	42.88M
Full Time Employees	240	227	326	341	367
Accumulated Allowance for Doubtful Accounts (Supple)	862K	10.05M	69.42M	115M	132M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-48.54M	-87.62M	-314M	-328M	-302M
Depreciation & Amortization - CF	5.67M	6.19M	7.77M	20.45M	20.57M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	439K	787K
Depreciation & Amortization, Total	5.67M	6.19M	7.77M	20.89M	21.36M
Amortization of Deferred Charges, Total - (CF)	-	-	-	1.67M	12.02M
(Gain) Loss From Sale Of Asset	28K	528K	820K	-103K	138K
(Gain) Loss on Sale of Investments - (CF)	-	-288K	-	-	-
Asset Writedown & Restructuring Costs	-	-	1.63M	-	-
(Income) Loss On Equity Investments - (CF)	74K	52K	276K	-196K	1.56M
Stock-Based Compensation (CF)	14.75M	54.86M	121M	96.9M	151M
Provision and Write-off of Bad Debts	619K	13.31M	56.52M	47.78M	13.69M
Other Operating Activities, Total	502K	-4.24M	-477K	-2.18M	-3.94M
Change In Accounts Receivable	-39.64M	-117M	42.14M	-10.07M	-20.52M
Change In Inventories	-12.3M	-29.27M	-35.97M	-3.26M	7.82M
Change In Accounts Payable	10.36M	26.61M	-7.75M	-10.1M	5.44M
Change in Unearned Revenues	3.93M	1.21M	6.56M	7.54M	17.38M
Change In Income Taxes	607K	-19K	4K	3K	22K
Change in Other Net Operating Assets	8.44M	-16.13M	-323K	5.89M	6.83M
Cash from Operations	-55.52M	-152M	-122M	-173M	-88.41M
Capital Expenditure	-2.74M	-8.74M	-15.64M	-12.17M	-7.83M
Sale of Property, Plant, and Equipment	-	192K	-	188K	-
Cash Acquisitions	-	-	-	-	-6.92M
Divestitures	-	-54K	-	-	-
Sale (Purchase) of Intangible assets	-999K	-337K	-51K	-1.65M	-1.26M
Investment in Marketable and Equity Securities, Total	-7.67M	-43.37M	-17.7M	70.03M	-114M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-13.9M	-	-	1.7M
Other Investing Activities, Total	425K	-	-	-	-
Cash from Investing	-10.99M	-66.21M	-33.4M	56.4M	-129M
Short Term Debt Issued, Total	5M	15M	10M	49.79M	69.09M
Long-Term Debt Issued, Total	30M	-	20M	-	10M
Total Debt Issued	35M	15M	30M	49.79M	79.09M
Short Term Debt Repaid, Total	-5M	-5M	-15M	-10M	-120M
Long-Term Debt Repaid, Total	-5M	-2M	-5M	-3M	-14.15M
Total Debt Repaid	-10M	-7M	-20M	-13M	-134M
Issuance of Common Stock	253M	7.31M	257M	69.86M	250M
Issuance of Preferred Stock	47.44M	-	-	-	-
Other Financing Activities, Total	-	27.37M	-	85K	-
Cash from Financing	325M	42.68M	267M	107M	195M
Foreign Exchange Rate Adjustments	1.35M	-6.26M	-5.07M	12.6M	562K
Net Change in Cash	260M	-181M	107M	2.29M	-21.06M
Supplemental Items
Cash Interest Paid	249K	342K	1.18M	1.5M	2.18M
Cash Income Tax Paid (Refund)	130K	-480K	342K	79K	184K
Levered Free Cash Flow	-26.05M	-122M	-5.68M	-26.79M	-18.68M
Unlevered Free Cash Flow	-25.53M	-121M	-4.56M	-26.07M	-21.35M
Change In Net Working Capital	13.24M	116M	-82.57M	-59.92M	-47K
Net Debt Issued / Repaid	25M	8M	10M	36.79M	-54.72M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-10.09	-12.22	-39.28	-35.63	-32.79
Return on Total Capital	-13.54	-15.95	-52.26	-49.42	-47.32
Return On Equity %	-25.41	-29.08	-90.75	-122.26	-144.35
Return on Common Equity	64.79	-29.81	-103.12	-143.69	-178.49
Margin Analysis
Gross Profit Margin %	58.46	58.96	63.43	65.93	64.13
SG&A Margin	52.38	54.86	405.97	460.73	179.25
EBITDA Margin %	-33.39	-47.26	-550.57	-665.73	-241.02
EBITA Margin %	-38.05	-50.69	-564.25	-684.86	-251.62
EBIT Margin %	-38.05	-50.69	-564.25	-685.85	-252.29
Income From Continuing Operations Margin %	-39.4	-51.11	-552.57	-743.13	-257.47
Net Income Margin %	-39.85	-48.65	-552.68	-740.62	-256.93
Net Avail. For Common Margin %	-62.22	-48.65	-552.68	-740.62	-256.93
Normalized Net Income Margin	-24.69	-29.42	-345.32	-457.22	-160.19
Levered Free Cash Flow Margin	-21.38	-67.9	-10	-60.45	-15.9
Unlevered Free Cash Flow Margin	-20.96	-67.08	-8.02	-58.84	-18.18
Asset Turnover
Asset Turnover	0.42	0.39	0.11	0.08	0.21
Fixed Assets Turnover	6.9	9.7	2.08	0.57	0.98
Receivables Turnover (Average Receivables)	3.01	1.61	0.52	1.02	3.56
Inventory Turnover (Average Inventory)	4.52	2.25	0.33	0.18	0.6
Short Term Liquidity
Current Ratio	4.48	2.69	3.5	1.37	1.81
Quick Ratio	4.07	2.22	2.71	0.99	1.34
Operating Cash Flow to Current Liabilities	-0.58	-0.96	-0.89	-0.61	-0.35
Days Sales Outstanding (Average Receivables)	121.46	227.6	706.95	359.45	102.39
Days Outstanding Inventory (Average Inventory)	80.82	162.38	1.1K	2K	610.7
Average Days Payable Outstanding	135.3	161.52	403.76	1.85K	525.64
Cash Conversion Cycle (Average Days)	66.98	228.45	1.4K	515.96	187.45
Long Term Solvency
Total Debt/Equity	12	14.16	8.02	121.49	64.33
Total Debt / Total Capital	10.72	12.41	7.42	54.85	39.15
LT Debt/Equity	10.32	-	4.54	44.79	33.28
Long-Term Debt / Total Capital	9.21	-	4.21	20.22	20.25
Total Liabilities / Total Assets