China’s EHang announces US$30 million share buyback

Chinese eVTOL maker EHang announced that the company’s board of directors has approved a share repurchase programme under which the company may repurchase up to US$30 million of its American Depositary Shares (ADSs) or ordinary shares over the next 12 months. Huazhi Hu, Founder, Chairman and CEO of EHang, said, “This share repurchase programme underscores our confidence in EHang’s long-term growth potential as well as our capability in continuously delivering value to our shareholders. Looking ahead, we remain focused on advancing our leadership in providing safe, pilotless, and sustainable eVTOL solutions in the Advanced Air Mobility sector, while maintaining a disciplined approach to capital allocation to ensure sustainable growth and profitability.” The company’s proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on the market conditions and in accordance with applicable federal securities laws, including Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The timing and amount of any share repurchases under the share repurchase programme will be determined by the company’s management at its discretion based on ongoing assessments of price, trading volume and general market conditions, along with the company’s working capital requirements, general business conditions and other factors. The company expects to fund repurchases made under this program mainly from its existing cash balance. For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Sally Passey at [email protected]