EHang Holdings Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Cash & Equivalents	256.4	227.18	378.58	382.46	610.88	611.75	623.44	250.86	228.25	233.04	127.07	184.11	249.31	137.42	207.13	204.11	246.86	284.39	319.92	462.47
Short-Term Investments	843.23	869.66	741.3	700.21	529.77	425.45	333.5	72.97	73.26	28.75	-	-	-	71.36	33.56	32.81	65.11	72.63	86.56	18
Cash & Short-Term Investments	1,100	1,097	1,120	1,083	1,141	1,037	956.93	323.83	301.51	261.79	127.07	184.11	249.31	208.78	240.68	236.92	311.97	357.03	406.48	480.47
Cash Growth	-3.60%	5.75%	17.03%	234.33%	278.31%	296.19%	653.09%	75.89%	20.94%	25.39%	-47.21%	-22.29%	-20.09%	-41.52%	-40.79%	-50.69%	66.73%	47.23%	57.72%	86.95%
Accounts Receivable	210.41	164.34	121.12	28.53	58.18	18.4	49.07	21.73	34.79	16.65	16.4	24.82	31.1	39.13	54.8	53.85	56.19	95.77	111.8	96.43
Other Receivables	-	-	-	-	-	-	-	-	-	1.7	-	-	-	-	-	-	1.36	-	-	-
Receivables	210.41	164.34	121.12	28.53	58.18	18.4	49.07	21.73	36.95	18.35	16.4	24.82	35.1	39.13	54.8	53.85	57.55	95.77	111.8	96.43
Inventory	101.63	107.74	107.03	109.03	95.74	67.88	71.18	62.37	61.66	65.22	70.53	66.2	79.27	79.46	79.23	85.78	86.36	66.06	54.2	43.4
Prepaid Expenses	-	-	-	-	6.73	-	-	-	6.7	-	-	-	11.16	-	-	-	1.67	-	-	-
Restricted Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.16	-	-	-
Other Current Assets	133.87	174.2	98.85	83.14	55.73	70.22	52.84	26.98	46.23	81.78	81.79	76.24	12.32	48.62	34.13	47.85	19.44	34.42	33.9	29.5
Total Current Assets	1,546	1,543	1,447	1,303	1,357	1,194	1,130	434.91	453.05	427.14	295.79	351.37	387.16	375.99	408.85	424.4	477.15	553.28	606.37	649.8
Property, Plant & Equipment	374.52	291.11	260.79	250.26	188.66	167.67	162.77	136.05	119.15	122.33	117.33	116.53	120.54	115.77	50.29	52.75	33.82	35.44	34.61	29.57
Long-Term Investments	74.18	59.42	61.61	32.04	33.76	22.72	17.46	18.02	18.37	15.88	14.14	9.75	9.84	8.01	7.94	6.16	6.14	3.62	2.92	2.92
Other Intangible Assets	14.06	2.76	2.88	2.62	2.62	2.38	2.38	2.59	2.43	2.31	2.14	2.16	1.96	1.53	0.96	0.71	0.75	0.81	0.87	0.96
Long-Term Deferred Tax Assets	3.31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Long-Term Assets	38.29	31.09	3.41	12.46	2.44	2.06	2.06	1.44	1.44	1.64	1.56	1.38	1.39	1.41	1.65	2.35	2.37	2.38	3.31	21.76
Total Assets	2,050	1,928	1,776	1,601	1,584	1,389	1,315	593.01	598.65	576.86	438.96	489.18	530.87	504.56	471.52	488.21	535.43	608.78	661.23	718.09
Accounts Payable	132.51	133.23	147.46	142.17	127.45	104.49	73.97	42.08	35.1	33.69	33.61	32	35.46	34.67	40.22	40.19	45.56	44.64	35.77	35.36
Accrued Expenses	268.35	189.37	176.77	124.17	124.8	118.18	103.25	80.41	71.68	82.06	93.93	99.99	61.66	69.79	71.27	58.22	49.23	52.2	59	51.09
Short-Term Debt	229.61	239.58	159.28	94.56	64.25	159.59	159.44	39.99	69.8	39.57	59.34	138.97	107.63	39.79	19.79	9.79	10	10	10	15
Current Portion of Long-Term Debt	9.8	8.3	12.5	13.5	10.5	10	4	3.5	3.54	3.54	1.54	1.54	13.15	14.27	13.89	15	3	-	-	-
Current Portion of Leases	16.28	17.14	16.81	15.32	12.53	10.96	10.27	7.34	5.6	7.53	6.6	4.65	5.52	11.11	11.12	11.43	-	-	-	-
Current Income Taxes Payable	3.1	0.01	0.11	0.01	0.15	0.13	0	0.01	0.03	0	0	0	0.01	0.01	0	0	0	-	-	-
Current Unearned Revenue	68.11	75.07	65.11	57	65.27	56.95	140.92	47.57	41.87	32.4	26.07	20.64	22.81	20	16.82	15.16	16.03	11.74	19.5	24.43
Other Current Liabilities	-	-	-	40	65.4	40	40	-	22.47	-	-	-	36.1	-	-	-	12.62	-	-	-
Total Current Liabilities	727.76	662.69	578.03	486.73	470.34	500.3	531.83	220.9	250.08	198.8	221.09	297.79	282.34	189.63	173.12	149.8	136.45	118.58	124.27	125.88
Long-Term Debt	82.7	87.6	59.9	62	20.5	7.5	14	15.5	9.31	10.69	3.08	3.46	3.85	4.23	4.62	5	17	20	20	20
Long-Term Leases	114.25	115.6	117.85	120.22	125.72	123.14	119.09	93.56	75.31	76.16	70.86	69.69	69.91	70.18	8.29	10.63	-	-	-	-
Long-Term Unearned Revenue	-	0.18	0.4	-	-	0.32	0.72	1.1	1.49	1.9	2.27	2.53	2.93	1.81	1.9	1.98	2.17	2.39	2.59	2.85
Long-Term Deferred Tax Liabilities	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29	0.29
Other Long-Term Liabilities	11.13	8.99	9.37	9.02	11.83	10.18	9.39	8.29	7.96	7.75	7.45	6.97	6.87	6.91	6.83	5.48	5.48	5.48	5.48	5.48
Total Liabilities	936.13	875.35	765.84	678.26	628.68	641.73	675.32	339.64	344.43	295.59	305.05	380.72	366.19	273.05	195.05	173.18	161.39	146.74	152.63	154.5
Common Stock	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.07	0.07	0.07
Additional Paid-In Capital	3,335	3,274	3,142	2,970	2,923	2,677	2,509	2,014	1,952	1,902	1,688	1,592	1,558	1,514	1,493	1,470	1,459	1,437	1,413	1,387
Retained Earnings	-2,214	-2,224	-2,142	-2,061	-1,983	-1,936	-1,888	-1,817	-1,753	-1,681	-1,614	-1,538	-1,449	-1,339	-1,263	-1,190	-1,121	-1,016	-943.56	-869.17
Treasury Stock	-10.09	-10.09	-10.09	-10.09	-10.09	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive Income & Other	2.61	12.43	19.53	23.54	25.54	5.59	18.65	15.83	15.08	19.6	19.26	14.29	15.01	16.26	5.44	-7	-5.89	-0.1	-1.33	4.55
Total Common Equity	1,114	1,053	1,010	922.62	955.64	746.61	639.1	213	213.79	240.64	93.22	67.61	124.26	190.87	235.41	273.74	332.6	421.49	467.78	522.57
Minority Interest	-0.59	-0.63	-0.29	-0.14	0.17	0.19	0.27	40.36	40.43	40.63	40.69	40.86	40.42	40.64	41.06	41.29	41.45	40.55	40.82	41.02
Shareholders' Equity	1,114	1,052	1,010	922.48	955.81	746.8	639.36	253.36	254.22	281.27	133.92	108.46	164.68	231.51	276.48	315.03	374.05	462.04	508.61	563.59
Total Liabilities & Equity	2,050	1,928	1,776	1,601	1,584	1,389	1,315	593.01	598.65	576.86	438.96	489.18	530.87	504.56	471.52	488.21	535.43	608.78	661.23	718.09
Total Debt	452.64	468.22	366.34	305.6	233.5	311.19	306.79	159.89	163.55	137.49	141.41	218.31	200.07	139.59	57.71	51.85	30	30	30	35
Net Cash (Debt)	647	628.62	753.54	777.07	907.15	726.01	650.14	163.94	137.97	124.3	-14.35	-34.2	49.25	69.19	182.97	185.08	281.97	327.03	376.48	445.47
Net Cash Growth	-28.68%	-13.41%	15.90%	374.01%	557.51%	484.09%	-	-	180.16%	79.64%	-	-	-82.53%	-78.84%	-51.40%	-58.45%	98.42%	43.75%	73.77%	101.31%
Net Cash Per Share	8.54	8.46	10.41	10.80	12.84	10.54	9.89	2.59	2.20	2.01	-0.24	-0.58	0.85	1.21	3.20	3.24	4.97	5.88	6.79	8.06
Filing Date Shares Outstanding	74.67	74.31	72.37	71.94	71.93	68.9	65.77	63.35	63.29	61.93	60.08	58.77	58.17	57.37	57.2	57.18	56.93	55.62	55.43	55.24
Total Common Shares Outstanding	74.67	74.31	72.37	71.94	71.93	68.9	65.77	63.35	63.29	61.93	60.08	58.77	58.17	57.37	57.2	57.18	56.93	55.62	55.43	55.24
Working Capital	817.79	880.43	868.85	816.64	886.68	693.39	598.18	214.01	202.97	228.34	74.7	53.58	104.81	186.36	235.73	274.6	340.7	434.71	482.1	523.92
Book Value Per Share	14.92	14.17	13.96	12.82	13.29	10.84	9.72	3.36	3.38	3.89	1.55	1.15	2.14	3.33	4.12	4.79	5.84	7.58	8.44	9.46
Tangible Book Value	1,100	1,050	1,007	919.99	953.03	744.22	636.71	210.41	211.37	238.33	91.08	65.45	122.3	189.33	234.45	273.03	331.86	420.68	466.91	521.61
Tangible Book Value Per Share	14.74	14.13	13.92	12.79	13.25	10.80	9.68	3.32	3.34	3.85	1.52	1.11	2.10	3.30	4.10	4.78	5.83	7.56	8.42	9.44
Machinery	-	-	-	-	48.66	-	-	-	42.88	-	-	-	37.24	-	-	-	28.7	-	-	-
Construction In Progress	-	-	-	-	16.99	-	-	-	1.52	-	-	-	1.89	-	-	-	1.72	-	-	-
Leasehold Improvements	-	-	-	-	30.24	-	-	-	35.02	-	-	-	32.63	-	-	-	30.25	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q