EHang Holdings Limited (EH)

EHang Holdings Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-230.03	-302.34	-329.33	-313.9	-92.04
Depreciation & Amortization	19.8	21.36	20.89	7.77	6.19
Stock-Based Compensation	273.12	151.49	96.52	121.13	54.86
Other Adjustments	6.99	24.12	48.47	61.34	13.79
Change in Receivables	-31.28	-20.52	-10.07	42.14	-116.9
Changes in Inventories	-21.59	7.82	-3.26	-38.61	-29.27
Changes in Accounts Payable	92.35	5.45	-10.1	-7.75	26.61
Changes in Accrued Expenses	57.55	-0.19	36.25	11.37	7.67
Changes in Income Taxes Payable	0.12	0.02	0	0	-0.02
Changes in Unearned Revenue	25.39	17.85	4.49	7.05	-2.43
Changes in Other Operating Activities	-34.45	6.55	-27.32	-12.18	-20.16
Operating Cash Flow	157.96	-88.41	-173.46	-121.63	-151.7
Capital Expenditures	-38.97	-7.83	-12.17	-15.65	-8.74
Sale of Property, Plant & Equipment	-	-	0.19	-	0.19
Purchases of Intangible Assets	-1.11	-1.26	-1.65	-0.05	-0.34
Purchases of Investments	-1,075	-114.39	-81.36	-158.46	-115.36
Proceeds from Sale of Investments	632.48	-	151.39	140.76	72
Payments for Business Acquisitions	-	-6.92	-	-	-
Other Investing Activities	-	1.7	-	-	-13.95
Investing Cash Flow	-482.51	-128.69	56.4	-33.4	-66.21
Short-Term Debt Issued	154.25	69.09	119.66	10	15
Short-Term Debt Repaid	-159.09	-119.66	-10	-15	-5
Net Short-Term Debt Issued (Repaid)	-4.84	-50.57	109.66	-5	10
Long-Term Debt Issued	25	10	-	20	-
Long-Term Debt Repaid	-6.85	-14.15	-3	-5	-2
Net Long-Term Debt Issued (Repaid)	18.15	-4.15	-3	15	-2
Issuance of Common Stock	698.13	250.2	-	256.95	7.31
Repurchase of Common Stock	-10.09	-	-	-	-
Net Common Stock Issued (Repurchased)	688.04	250.2	-	256.95	7.31
Other Financing Activities	-	-	0.09	-	27.37
Financing Cash Flow	701.36	195.48	106.74	266.95	42.68
Effect of Exchange Rate Changes on Cash and Cash Equivalents	5.82	0.56	12.61	-5.07	-6.26
Net Cash Flow	382.63	-21.06	2.29	106.85	-181.49
Free Cash Flow	118.99	-96.24	-185.62	-137.27	-160.44
FCF Margin	26.09%	-81.96%	-418.86%	-241.65%	-89.09%
Free Cash Flow Per Share	1.77	-1.58	-3.24	-2.43	-2.93
Levered Free Cash Flow	-111.91	-303.84	-212.97	-351.67	-100
Unlevered Free Cash Flow	-153.44	-245.03	-295.09	-368.38	-111.23

Updated Nov 26, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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