> l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1Courier New1Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)**_($* #,##0_);_($* (#,##0);_($* ""_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* ""_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* ""??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* ""??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)60%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0) + ) , * Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~9"܈ ~~7#܈ ~~8"܈ ~~9#܈ ~~3#܈ ~~83ffff̙̙3f3fff3f3f33333f33&sCALCULATION OF REGISTRATION FEE&52Investing in the ADSs involves K
PROSPECTUSfPROSPECTUS (1)&TSUMMARY CONSOLIDATED FINANCIAL %[SUMMARY CONSOLIDATED FINAN (1)%SUMMARY CONSOLIDATED FINAN (2)%SUMMARY CONSOLIDATED FINAN (3) CNonGAAP Financial MeasureeCAPITALIZATION3CAPITALIZATION (1)DILUTIONDILUTION (1)&SELECTED CONSOLIDATED FINANCIAL&DSELECTED CONSOLIDATED FINAN (1)&bgSELECTED CONSOLIDATED FINAN (2)&SELECTED CONSOLIDATED FINAN (3)$ξNonGAAP Financial Measure (1)Revenues
Operating expensesA6Results of Operations HResults of Operations (1) Results of Operations (2)%%Cash flows and working capitalContractual obligationsSharebased compensation9OverviewPPassengergrade AAVsLtNonpassengergrade AAVs Employees`
Facilities&Directors and Executive Officer 2015 Share Incentive PlanPRINCIPAL SHAREHOLDERS4Fees and ExpensesLVUNDERWRITINGnUNDERWRITING (1)&EXPENSES RELATED TO THIS OFFERI&INDEX TO CONSOLIDATED FINANCIAL&ؾexcept for number of shares and&except for number of shares (1)&/except for number of shares (2)&_except for number of shares (3)&:except for number of shares (4)&sexcept for number of shares (5)&Eexcept for number of shares (6)&%Mexcept for number of shares (7)&except for number of shares (8)&3except for number of shares (9)"Commitment Letter Continued&/except for number of share (10)&'except for number of share (11)&_Dexcept for number of share (12)&\except for number of share (13)&a{except for number of share (14)&except for number of share (15)&۲except for number of share (16)&except for number of share (17)&"except for number of share (18)&U except for number of share (19)&" except for number of share (20)&ZB except for number of share (21)&v` except for number of share (22)&X except for number of share (23)&0 except for number of share (24)
PRC PRC (1)& except for number of share (25)&
except for number of share (26)<
Unrecognized Tax Benefit&W
except for number of share (27)&Vw
except for number of share (28)&
except for number of share (29)&
except for number of share (30)&
except for number of share (31)&
except for number of share (32)Condensed balance sheets&>SCondensed statements of compreh&Condensed statements of cash fl&Uexcept for number of share (33)&nexcept for number of share (34)&except for number of share (35)&{Aexcept for number of share (36)&vexcept for number of share (37)&װexcept for number of share (38)&except for number of share (39)&(
except for number of share (40)&j
except for number of share (41)&ܓ
except for number of share (42)&
except for number of share (43)&
except for number of share (44)&
except for number of share (45)&except for number of share (46)&&except for number of share (47)&{Bexcept for number of share (48)&`except for number of share (49)&~except for number of share (50)&except for number of share (51)&¾except for number of share (52)&except for number of share (53)&wexcept for number of share (54)&%except for number of share (55)&m6except for number of share (56)&kWexcept for number of share (57)&axexcept for number of share (58)&qexcept for number of share (59)&INFORMATION NOT REQUIRED IN PROX
Exhibit IndexExhibit Index (1)y7PRELIMINARYUPRELIMINARY (1)PRELIMINARY (2)
PRELIMINARY (3)CPRELIMINARY (4)PRELIMINARY (5)'INTERPRETATION\INTERPRETATION (1)&ӏREMAINDER OF THIS PAGE LEFT INT}Founders˽Series Seed ShareholdersSeries A ShareholdersSeries B Shareholders+Series C Shareholders&)Shareholders Agreement as the I&>19 Notices Any notice required &TIN WITNESS WHEREOF the Agreemen&mEXCLUSIVE TECHNICAL CONSULTING !ÇEXCLUSIVE OPTION AGREEMENT!ʠARTICLE 1 Ordered Products%Annex A EHANG AAV Product List%ARTICLE 1 Ordered Products (1)%Annex A EHANG AAV Product (1)%Subsidiaries of the Registrant'NO TITLE
l 1
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }}$ }
EHang Holdings LtdF1
10/31/2019'CALCULATION OF REGISTRATION FEE
Title of each class of
Proposed
Amount of#securities to be registeredmaximumregistration fee aggregate
offering price (2)(3)4,Class A Ordinary Shares, par value US$0.0001US$100,000,000US$12,980.00
per share (1)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2Eznb&IaH<0$=PF0*8X>
@
l J
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I }$ }}$ }}
$ }}$
EHang Holdings LtdF1
10/31/2019G?Investing in the ADSs involves risks. See beginning on page 17.
Price to Underwriting
Proceeds to us
Public
DiscountsandCommissions (1)
Per ADS
US$
US$
US$
TotalUS$US$
US$$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,fZNB^Oe=PF0*8X>
@R
l 0f
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves PROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }:}$ }}$
EHang Holdings LtdF1
10/31/2019
PROSPECTUS PROSPECTUS SUMMARY ~
THE OFFERING
~
&
4,SUMMARY CONSOLIDATED FINANCIAL AND OPERATING~
6DATA
RISK FACTORS
~
F
.&SPECIAL NOTE REGARDING FORWARDLOOKING~
STATEMENTSUSE OF PROCEEDS~
DIVIDEND POLICY~
CAPITALIZATION~
DILUTION~
+#ENFORCEABILITY OF CIVIL LIABILITIES~
'CORPORATE HISTORY AND STRUCTURE~
&5SELECTED CONSOLIDATED FINANCIAL AND OPERATING~
6DATA,$MANAGEMENT?S DISCUSSION AND ANALYSIS~
F80OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@Dw;7'yc}7y`T,=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUS!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }2}$ }U}$
EHang Holdings LtdF1
10/31/2019
PROSPECTUS INDUSTRY ~
BUSINESS
~
REGULATION~
MANAGEMENT~
b
PRINCIPAL SHAREHOLDERS
~
~
"RELATED PARTY TRANSACTIONS~
$DESCRIPTION OF SHARE CAPITAL~
1)DESCRIPTION OF AMERICAN DEPOSITARY SHARES~
'SHARES ELIGIBLE FOR FUTURE SALE~
TAXATION~
UNDERWRITING~
)!EXPENSES RELATED TO THIS OFFERING~
*
LEGAL MATTERS~
.EXPERTS~
21)WHERE YOU CAN FIND ADDITIONAL INFORMATION~
62*INDEX TO CONSOLIDATED FINANCIAL STATEMENTSF1$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@Dw;gsUfo=PF0*8X>
@
l 5h
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1) SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }}$ }}
$ }
}$ }}$ }}$ }
}$
5
EHang Holdings LtdF1
10/31/201991SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
Total revenues~
>~
~
V
~
VW~
~
ICosts of revenues (1)~
&R~
r
~
~
~
~
.~
nGross profit~
bA~
N
~
L
~
=~
(~
"+Operating expenses:
( Sales and marketing expenses (1)~
%~
~
~
u~
"<~
z/'General and administrative expenses (1)~
~
v
~
6
~
~
r~
J%Research and development expenses (1)~
~
2R
~
v
~
FJ~
"Q~
>
Total operating expenses~
~
n
~
~
&~
u~
{
Other operating income~
bC~
~
~
Q~
~
Operating loss~
P~
Nv
~
V
~
h~
~
Other income/(expense):
Interest income~
~
~
j
~
n ~
~
"Interest expenses ?~
2
~
~
:~
V~
R$Foreign exchange gain/(loss)~
~
~
*
~
~
~
/'Loss on deconsolidation of subsidiaries~
N ?
?
? ? ?D.lth\P$dN:DH !"#$%&'()*+,./01234 Other income ~
F ~
j
~
~
~
f ~
Z !
Other expense!!~
!!!!~
!!! !
~
!~!!
!~
!!!!~
!!!!~
!!"""""""""" "
"""
"""""""""""$#Total other income/(expense)##~
####~
#2## #
~
###
#~
####~
####~
##$$$$$$$$$$ $
$$$
$$$$$$$$$$$4%,Loss before income tax and share of net loss%%~
%F%%%~
%~%% %
~
%fI%%
%~
%l%%%~
%J%%%~
%%&from an equity investee'''''''''' '
'''
'''''''''''(Income tax expenses((~
((((~
((( (
~
(((
(~
((((~
((((~
(()))))))))) )
)))
)))))))))))4*,Loss before share of net loss from an equity**~
*F***~
*N** *
~
*:I**
*~
*c***~
****~
*V*+investee1,)Share of net loss from an equity investee,, ,?,,,~
,z,, ,
~
,,,
,~
,f,,,~
,,,,~
,, 

.Net loss..~
.F...~
... .
~
.H..
.~
.
b...~
....~
.R.////////// /
///
///////////01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.wKgD=)]1%=PF0*8X>
@443322
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }
}$ }U}
$ }U}$ }U}$ }U}$ }$}$
EHang Holdings LtdF1
10/31/201991SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
Costs of revenues
~
~
~
~
z
~
~
$Sales and marketing expenses~
,~
2
~
f
~
~
> ~
Z+#General and administrative expenses~
B~
Z
~
n
~
fZ~
X~
)!Research and development expenses~
ƹ~
}
~
V
~
B~
b4~
Total~
~
r\
~
2
~
J~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6th\P$og;=PF0*8X>
@
l %&
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }0}$ }}$ }}
$ }
}$ }}$ }
}$
%
EHang Holdings LtdF1
10/31/201991SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA
As of December 31,
As of June 30,
~
~
~
RMBRMB
US$
RMBUS$(in thousands)!
Cash and cash equivalents
~
>
~
>
~
~
~
Accounts receivable, net~
a~
'
~
~
"~
.Inventories~
~
6=
~
~
F~
0(Cost and estimated earnings in excess of ?~
~
)
~
~
#billings,$Prepayments and other current assets~
[~
&
~
"
~
f~
*4*"Property, plant and equipment, net~
0~
)
~
b+
~
~
.'Total assets~
J[ ~
~
~
v" ~
T
Shortterm bank loan ?~
"N
~
b
~
"N~
bAccounts payable~
~
~
^!
~
~
&.&Accrued expenses and other liabilities~
~
v
~
G
~
z:~
SLongterm loan ? ?
?
~
.!~
Total liabilities~
X~
~
~
#~
Z
Total mezzanine equity~
$~
$
~
n`
~
'~
#Total shareholders? deficit~
~
N
~

~
~
Dlth\PTbU6tbfM7 !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
P=PF0*8X>
@r$$##""
l "bA;B
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$4}$ }
}$ }
}
$ }}$ }
}$ }
}$ }}$
"
EHang Holdings LtdF1
10/31/201991SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
%Net cash used in operating activities~
~
Y
~
2
~
>8~
~
60(Net cash (used in)/provided by investing~
~
^
~
:
~
>~
m~
activities1)Net cash provided by financing activities~
~
~
n$
~
b~
2~
k/'Effect of exchange rate changes on cash~
w~
~
~
* ~
~
and cash equivalents
0(Net (decrease)/increase in cash and cash~
v~
~
&
~
~
~
equivalents2*Cash and cash equivalents at the beginning~
ʦ~
>
~
~
>~
>~
of the year
3+Cash and cash equivalents at the end of the~
>~
>
~
~
>~
~
year
$____________________________Dlth\P$d0%i !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X>
@!!
l d
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)CAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }'}$ }
}$ }
}
$ }
}$ }
}$ }
}$ }}$
EHang Holdings LtdF1
10/31/2019"NonGAAP Financial Measure
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
Net loss~
F~
~
H
~
b~
~
RAdd:
( Sharebased compensation expense~
~
r\
~
2
~
J~
~
Adjusted net loss~
֭~
6s
~
{
~
R~
N~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6sg;
{;>=PF0*8X>
@
l 2N
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }@}$ }}$ }
}
$ }$}$ }$}$
2
EHang Holdings LtdF1
10/31/2019CAPITALIZATION
As of June 30, 2019
Actual
Pro Forma
Pro Forma As
Adjusted (1)RMBUS$
RMB
US$RMBUS$
(in thousands)
2*Mezzanine equity and shareholders? deficit
2*Series Seed 1 convertible preferred shares~
b~
?
?.&(US$0.0001 par value; 7,281,000 shares%authorized, issued and outstanding as=5of December 31, 2018 and June 30, 2019, respectively)2*Series Seed 2 convertible preferred shares~
~
?
?.&(US$0.0001 par value; 7,281,000 shares%authorized, issued and outstanding as=5of December 31, 2018 and June 30, 2019, respectively)2*Series Seed 3 convertible preferred shares~
~
?
?.&(US$0.0001 par value; 1,456,200 shares%authorized, issued and outstanding as=5of December 31, 2018 and June 30, 2019, respectively)1)Series A redeemable convertible preferred~
~
^
?
?.&shares (US$0.0001 par value; 8,119,0321)shares authorized, issued and outstanding2*as of December 31, 2018 and June 30, 2019,
respectively)DlsGqMi8i8i8j5 !"#$%&'()*+,./011 )Series B redeemable convertible preferred ~
~
X
?
? /!'shares (US$0.0001 par value; 12,152,247,"$shares authorized, 11,172,291 shares1#)issued and outstanding as of December 31,$%2018 and June 30, 2019, respectively)1%)Series C redeemable convertible preferred%%~
%%%%~
%Z%% %
%?%%
% %?%%%%%%%%%0&(shares, (US$0.0001 par value; 22,552,2072'*shares authorized, 2,559,181 and 3,748,6788(0shares issued and outstanding as of December 31,)%2018 and June 30, 2019, respectively)********** *
***
***********+Total mezzanine equity++~
+'+++~
+++ +
+?++
+ +?+++++++++,,,,,,,,,, ,
,,,
,,,,,,,,,,,.$/____________________________10)Created by Morningstar Document Research.01(http://documentresearch.morningstar.com/(
TrB
M~6
=PF0*8X>
@z1100//
l $ >
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATION
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }2}$ }I}$ }}
$ }
}$ }
}$
$
EHang Holdings LtdF1
10/31/2019CAPITALIZATION
As of June 30, 2019
Actual
Pro Forma
Pro Forma As
Adjusted (1)RMBUS$
RMB
US$RMBUS$
(in thousands)
'Shareholders? (deficit)/equity:Ordinary shares~
~
Class A ordinary shares
~
~
Class B ordinary shares
~
r
~
&Additional paidin capital (2)~
~
~
~

~
Statutory reserves~
~
~
~
Accumulated deficit~
J~
~
J
~
.&Accumulated other comprehensive income~
R~
.
~
R
~
.
2*Total EHang Holdings Limited shareholders?~
j~
~
z
~
*(deficit)/equity!Noncontrolling interests~
R~
"
~
R
~
"
,$Total shareholders? (deficit)/equity~
~
~
~
J
Total capitalization~
~
J
~
~
J
DlsGqMl%Fv)y1 !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/<=PF0*8X>
@z##""!!
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)DILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }:}$ }}$ }}$
EHang Holdings LtdF1
10/31/2019DILUTION Per Ordinary Share Per ADS 
%Assumed initial public offering price
US$
US$
3+Net tangible book value as of June 30, 2019US$US$/'Pro forma net tangible book value afterUS$US$8
0giving effect to the conversion of our preferredshares/'Pro forma as adjusted net tangible bookUS$US$3+value after giving effect to the conversion1)of our preferred shares and this offering/'Amount of dilution in net tangible bookUS$US$/'value to new investors in this offering$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4y
l=PF0*8X>
@*
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTION!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }} $ }
}$ }
}$}$ }}$ }}$ }}$ }}$
EHang Holdings LtdF1
10/31/2019DILUTION
Average Average
!
Ordinary Shares Purchased
Total Consideration
Price Per
Price Per
OrdinaryADSNumberPercent
Amount
Percent
Share
Existing shareholders
US$
%
US$
US$
New investors
US$
%US$US$
Total
US$
~
%
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2
yMP
~rf>=PF0*8X>
@
l 5.*C
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }}$ }}
$ }
}$ }}$ }}$ }
}$
5
EHang Holdings LtdF1
10/31/2019:2SELECTED CONSOLIDATED FINANCIAL AND OPERATING DATA
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
Total revenues~
>~
~
V
~
VW~
~
ICosts of revenues (1)~
&R~
r
~
~
~
~
.~
nGross profit~
bA~
N
~
L
~
=~
(~
"+Operating expenses:
( Sales and marketing expenses (1)~
%~
~
~
u~
"<~
z/'General and administrative expenses (1)~
~
v
~
6
~
~
r~
J%Research and development expenses (1)~
~
2R
~
v
~
FJ~
"Q~
>
Total operating expenses~
~
n
~
~
&~
u~
{
Other operating income~
bC~
~
~
Q~
~
Operating loss~
P~
Nv
~
V
~
h~
~
Other income/(expense):
Interest income~
~
~
j
~
n ~
~
"Interest expenses ?~
2
~
~
:~
V~
R$Foreign exchange gain/(loss)~
~
~
*
~
~
~
/'Loss on deconsolidation of subsidiaries~
N ?
?
? ? ?D/lsg[O#cM9
CG !"#$%&'()*+,./01234 Other income ~
F ~
j
~
~
~
f ~
Z !
Other expense!!~
!!!!~
!!! !
~
!~!!
!~
!!!!~
!!!!~
!!"""""""""" "
"""
"""""""""""$#Total other income/(expense)##~
####~
#2## #
~
###
#~
####~
####~
##$$$$$$$$$$ $
$$$
$$$$$$$$$$$4%,Loss before income tax and share of net loss%%~
%F%%%~
%~%% %
~
%fI%%
%~
%l%%%~
%J%%%~
%%&from an equity investee'''''''''' '
'''
'''''''''''(Income tax expenses((~
((((~
((( (
~
(((
(~
((((~
((((~
((4),Loss before share of net loss from an equity))~
)F)))~
)N)) )
~
):I))
)~
)c)))~
))))~
)V)*investee++++++++++ +
+++
+++++++++++1,)Share of net loss from an equity investee,, ,?,,,~
,z,, ,
~
,,,
,~
,f,,,~
,,,,~
,, 

.Net loss..~
.F...~
... .
~
.H..
.~
.
b...~
....~
.R.////////// /
///
///////////01$2____________________________13)Created by Morningstar Document Research.04(http://documentresearch.morningstar.com/.wKgDiU)]1%=PF0*8X>
@443322
l gf
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }
}$ }U}
$ }U}$ }U}$ }U}$ }$}$
EHang Holdings LtdF1
10/31/2019:2SELECTED CONSOLIDATED FINANCIAL AND OPERATING DATA
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
Costs of revenues
~
~
~
~
z
~
~
$Sales and marketing expenses~
,~
2
~
f
~
~
> ~
Z+#General and administrative expenses~
B~
Z
~
n
~
fZ~
X~
)!Research and development expenses~
ƹ~
}
~
V
~
B~
b4~
Total~
~
r\
~
2
~
J~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6sg[O#nf:=PF0*8X>
@
l %
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }0}$ }}$ }}
$ }
}$ }}$ }
}$
%
EHang Holdings LtdF1
10/31/2019:2SELECTED CONSOLIDATED FINANCIAL AND OPERATING DATA
As of December 31,
As of June 30,
~
~
~
RMBRMB
US$
RMBUS$(in thousands)!
Cash and cash equivalents
~
>
~
>
~
~
~
Accounts receivable, net~
a~
'
~
~
"~
.0(Cost and estimated earnings in excess of ?~
~
)
~
~
"billingsInventories~
~
6=
~
~
F~
,$Prepayments and other current assets~
[~
&
~
"
~
f~
*4*"Property, plant and equipment, net~
0~
)
~
b+
~
~
.'Total assets~
J[ ~
~
~
v" ~
T
Shortterm bank loan ?~
"N
~
b
~
"N~
bAccounts payable~
~
~
^!
~
~
&.&Accrued expenses and other liabilities~
~
v
~
G
~
z:~
SLongterm loan ? ?
?
~
.!~
Total liabilities~
X~
~
~
#~
Z
Total mezzanine equity~
$~
$
~
n`
~
'~
#Total shareholders? deficit~
~
N
~

~
~
Dlsg[OSaT5saeL6
!"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
P=PF0*8X>
@r$$##""
l "(
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$4}$ }
}$ }
}
$ }}$ }
}$ }
}$ }}$
"
EHang Holdings LtdF1
10/31/2019:2SELECTED CONSOLIDATED FINANCIAL AND OPERATING DATA
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
%Net cash used in operating activities~
~
Y
~
2
~
>8~
~
60(Net cash (used in)/provided by investing~
~
^
~
:
~
>~
m~
activities1)Net cash provided by financing activities~
~
~
n$
~
b~
2~
k/'Effect of exchange rate changes on cash~
w~
~
~
* ~
~
and cash equivalents
0(Net (decrease)/increase in cash and cash~
v~
~
&
~
~
~
equivalents2*Cash and cash equivalents at the beginning~
ʦ~
>
~
~
>~
>~
of the period
3+Cash and cash equivalents at the end of the~
>~
>
~
~
>~
~
period
$____________________________Dlsg[O#c/$
f !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X>
@!!
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }'}$ }
}$ }
}
$ }
}$ }
}$ }
}$ }}$
EHang Holdings LtdF1
10/31/2019"NonGAAP Financial Measure
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
Net loss~
F~
~
H
~
b~
~
RAdd:
( Sharebased compensation expense~
~
r\
~
2
~
J~
~
Adjusted net loss~
֭~
6s
~
{
~
R~
N~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6sg;
{;>=PF0*8X>
@
l v
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)Operating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }%}$ }
}$ }U}
$ }
}$ }U}$ }U}$ }
}$ }U}$ }} "$ }##
}$&$ }'' }(($
)))))))))) )
)))
)))))))))))))EHang Holdings LtdF1
10/31/2019Revenues
!"#$%&'( ' For the Year Ended December 31, ) !For the Six Months Ended June 30, (
~
~
~
~
(RMB %
RMB
US$ %RMB %RMB !"US$$% &%(.&(in thousands, except for percentages)(
Revenues:
!
"
#
$
%
&
'
(Air mobility solutions ? ?
~
0
~
@~
$ffffff@~
t !"~
#R6$%&'lR@('Smart city management solutions~
6333333@
~
~
REfffffF@~
"@H@~
!"~
#J$%&'?(Aerial media solutions~
V33333L@
~
~
2G~
~
33333E@~
zy !"~
#$%&~
'b(Others~
YC@
~
~
@~
~
~
!"~
#n$%&'ffffff?(
!"#$%&'(
Total~
>~
~
~
V~
~
VW~
~
!"~
#I$%&~
'(
!"#$%&'($____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8yUu`1$=PF0*8X>
@((('
"#&'
' '
l (5
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }}$ } }
$ }}$ }
}$ } }$ }
}$ } }$ }} "$ }##
}$&$ }'' }(($
)))))))))) )
)))
)))))))))))EHang Holdings LtdF1
10/31/2019Operating expenses
!"#$%&'( ' For the Year Ended December 31, As of June 30, (
~
~
~
~
(RMB %
RMB
US$ %RMB %RMB !"US$$% &%(%(in thousands, except for percentage)($
Sales and marketing expenses
~
V
6@
~
:;
~

L1@
~
1@
~
!
"~
#
$
%
&
'5@
(+#General and administrative expenses~
(L:@
~
1
~
Qfffff>@~
33333<@~
!"~
#($%&'fffff>@()!Research and development expenses~
0̌I@
~
ҭ
~
2fffffI@~
K@~
!"~
#>$%&'G@(
!"#$%&'( Total operating expenses~
64~
~
~
~
~
'~
~
R !"~
#$%&~
'(
!"#$%&'($____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4{o^S =PF0*8X>
@((('
"#&'
' '
l 0w?
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }}$ }
}
$ }}$ }
}$ }
}$ }}$ }}$}$ }} "$ }##
}$&$ }''
}(($
0)))))))))) )
)))
)))))))))))))))))))EHang Holdings LtdF1
10/31/2019Results of Operations
!"#$%&'( ' For the Year Ended December 31, ) !For the Six Months Ended June 30, (
~
~
~
~
(RMB %
RMB
US$ %RMB %RMB !"US$$% &%(%(in thousands, except for percentage)(
!
%Total revenues~
>~
~
~
V~
~
VW~
r~
!"~
#I$%&~
'(Costs of revenues (1)~
&R33333U
~
r
~
~H~
~
F~
. !"~
#n$%&'D(
!"#$%&'(Gross profit~
bAffffff*@
~
N
~
LffffffI@~
=~
~
( !"~
#"+$%&'@M@(
!"#$%&'(Operating expenses:
!"#$%&'(( Sales and marketing expenses (1)~
%33333W
~
~
L>~
u~
~
"< !"~
#z$%&'YC(/'General and administrative expenses (1)~
fffff[
~
v
~
6K~
YC~
r !"~
#J$%&'K(%Research and development expenses (1)~
fffffk
~
2R
~
v̬V~
FJ~
~
"Q !"~
#>$%&'LU(
!"#$%&'( Total operating expenses~
z
~
n
~
33333e~
&`~
u !"~
#{$%&'33333cf(
!"#$%&'(Other operating income~
bC333333+@
~
~
)@~
Qffffff+@~
!"~
#$%&'@(
!"#$%&'(Operating loss~
Px
~
Nv
~
V33333[~
hfffffQ~
!"~
#$%&'fffffF](Other income/(expense):
!"#$%&'(Interest income~
?
~
~
j?~
n ?~
!"~
#"$%&'?(Interest expenses ? ?
~
2
~
~
:~
V !"~
#R$%&'(DlxlHid3G3
! )!)")#)$)%)&)')()))*)+),)).)/)$ Foreign exchange gain/(loss) ~
ffffff?
~
~
* ? ~
ٿ ~
! "~
# $ % & '? (/!'Loss on deconsolidation of subsidiaries!!~
!N!!!!!! !
!?!!
! !?!!! !?!!! !?!!! !?!!! !?! !!!" !#?!$!%!& !'?!("Other income""~
"F""""ffffffa@"" "
~
"j""
"~
"""""@"""~
"""""?"""~
"f" "!""~
"#Z"$"%"&"'?"(#
Other expense##~
####### #
~
###
#~
#~####ffffff(###~
####~
# #)##~
## #!#"~
###$#%#&#'#($$$$$$$$$$ $
$$$
$$$$$$$$$$$$$$$$$$$ $!$"$#$$$%$&$'$($%Total other income/(expense)%%~
%%%%%a@%% %
~
%2%%
%~
%%%%%!%%%~
%%%%%?%%%~
%% %!%"~
%#%$%%%&%'?%(&&&&&&&&&& &
&&&
&&&&&&&&&&&&&&&&&&& &!&"&#&$&%&&&'&(4',Loss before income tax and share of net loss''~
'F''''p'' '
~
'~''
'~
'fI'''',^'''~
'l''''33333P'''~
'J' '!'"~
'#'$'%'&''\'((from an equity investee)))))))))) )
)))
))))))))))))))))))) )!)")#)$)%)&)')(*Income tax expenses**~
*****ffffff0** *
~
***
*~
********~
********~
** *!*"~
*#*$*%*&*'ɿ*(+,$____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$,{cw;, =PF0*8X>
@//(..(('
"#&'
' '
l p
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }
}$ }}
$ }
}$ }
}$ }}$ }
}$ }
}$ }
} "$ }##}$&$ }''}(($
)))))))))) )
)))
)))))))))))))EHang Holdings LtdF1
10/31/2019Results of Operations
!"#$%&'( ' For the Year Ended December 31, ) !For the Six Months Ended June 30, (
~
~
~
~
(RMB %
RMB
US$ %RMB %RMB !"US$$% &%(%(in thousands, except for percentage)(
!
%4,Loss before share of net loss from an equity~
F33333q
~
N
~
:I333333^~
c333333Q~
!"~
#V$%&'](investee
!"#$%&'(1)Share of net loss from an equity investee ? ?
~
z
~
ɿ~
f333333ӿ~
!"~
#$%&~
' ()
!"#$%&'(Net loss~
F33333q
~
~
H~
~
bfffffFQ~
!"~
#R$%&'](
!"#$%&'($____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8$xlHiyyuM=PF0*8X>
@((('
"#&'
' '
l (
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }
}$ }U}
$ }U}$ }U}$ }U}$ }$}$
EHang Holdings LtdF1
10/31/2019Results of Operations
' For the Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
Costs of revenues~
~
~
~
z~
~
$Sales and marketing expenses~
,~
2
~
f
~
~
> ~
Z+#General and administrative expenses~
B~
Z
~
n
~
fZ~
X~
)!Research and development expenses~
ƹ~
}
~
V
~
B~
b4~
Total~
~
r\
~
2
~
J~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8xl@7/Z=PF0*8X>
@
l !l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2)Contractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$4}$ }
}$ }
}
$ }}$ }
}$ }
}$ }}$
!
EHang Holdings LtdF1
10/31/2019&Cash flows and working capital
' For The Year Ended December 31,
) !For the Six Months Ended June 30,
~
~
~
~
RMBRMB
US$
RMBRMBUS$(in thousands)
%Net cash used in operating activities
~
~
Y
~
2
~
>8
~
~
6
0(Net cash (used in)/provided by investing~
~
^
~
:
~
>~
m~
activities1)Net cash provided by financing activities~
~
~
n$
~
b~
2~
k/'Effect of exchange rate changes on cash~
w~
~
~
* ~
~
and cash equivalents
0(Net (decrease)/increase in cash and cash~
v~
~
&
~
~
~
equivalents2*Cash and cash equivalents at the beginning~
ʦ~
>
~
~
>~
>~
of the year
3+Cash and cash equivalents at the end of the~
>~
>
~
~
>~
~
year
$____________________________1)Created by Morningstar Document Research.Dl{oc7 n8um]1% 0 (http://documentresearch.morningstar.com/H=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }!}$ }}$ }
}
$ }
}$ }U}$ }$}$
EHang Holdings LtdF1
10/31/2019Contractual obligations
Total Less than 1
13
35 More than 5
year
years
years
years(in RMB thousands)#Operating lease commitments~
~
t
~
J
~
& ?
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hvjnxX\PD=PF0*8X>
@j
l &9
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligations
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$}$ }y}$ }}$
EHang Holdings LtdF1
10/31/2019 Sharebased compensation Number of Weighted
restricted
averageshare units
fair valueon grant
date
(US$)$Year ended December 31, 2017~
*m4@$Year ended December 31, 2018~
_m4@&Six months ended June 30, 2019~
M9m4@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2Sui>D"
=PF0*8X>
@b
l O
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensationPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }}$ }$
EHang Holdings LtdF1
10/31/2019Overview
Passenger Transportation
Logistics
Smart City Management
Aerial Media Solutions$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hyU1aUI!=PF0*8X>
@
l 15ns
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }1}$ }:}$ }U5
1
EHang Holdings LtdF1
10/31/2019Passengergrade AAVs EHang 216 EHang 116
Commercialization Status3+As of the date of this prospectus, 37 units3+As of the date of this prospectus, one unit
5
have been delivered to customers for testing,
4
,has been delivered to a customer for testing,$training and demonstration purposes./'and training purposes. Currently we are5Currently we are working to obtain regulatory.&working to obtain regulatory approvals.&approvals for commercial operations in/'for commercial operations in China, and5China, and are assisting a customer in Europe4,are assisting a customer in Europe in taking0(in taking steps toward applying for such1)steps toward applying for such approvals.4,approvals. However, we are unable to predict4,However, we are unable to predict the timing%the timing of such approvals.of such approvals.Design80Dual seats, 16 independent motors and propellers.&Single seat, 16 independent motors andover eight arms"propellers over eight armsApplications+#Passenger transportation, logistics+#Passenger transportation, logistics
and others
and othersSpecifications
Maximum speed130 km/h130 km/hD
lym1D.`c?aI !"#$%&'()*+,./0 Cruising speed 100 km/h 100 km/h!!!1")Designed flight time with maximum payload""
21 minutes""
19 minutes###$%Designed flight distance with maximum$
$35 km$
$31 km%payload&&&'Maximum payload''220 kg''140 kg(((*)"Maximum altitude (above sea level)))3,000 meters))3,000 meters***/+'Time to full charge (standard charging)++
? 120 minutes++
? 120 minutes,$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&L@ zgCR.q=PF0*8X>
@00//..
l &\P
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }1}$ }2}$ }2}$ }$4
&
EHang Holdings LtdF1
10/31/2019 Nonpassengergrade AAVs Falcon B GD 2.0X V100
Design
1
)Fourarm coaxial octorotor configuration
Quadrotor configuration
3
+Quadrotor & fixedwing hybrid configurationApplications.&Surveillance, fire extinguishment, and+#Surveillance and lastmile delivery/'Surveillance, power line inspection andlastmile deliverymediumrange deliveryOperating modes2*Standalone operations; commandandcontrol2*Standalone operations; commandandcontrol2*Standalone operations; commandandcontrolcenter operatedcenter operatedcenter operatedSpecifications
Maximum speed80 km/h40 km/h100 km/h1)Designed flight time with maximum payload
17 minutes
19 minutes1 hour%Designed flight distance with maximum
19 km
10 km
80 kmpayloadMaximum payload5 kg0.45 kg2 kgDlui~*55(f(p] !"#$% Time to full charge ? 90 minutes ? 90 minutes ? 90 minutes!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/dui]5=PF0*8X>
@%%$$##
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$4}$ }U}$ } }$
EHang Holdings LtdF1
10/31/2019 Employees Function Number
% of Total
Employees3+Research and product development department~
J@ %&Marketing and sales department~
ffffff,@ %"
Fleet formation department
~
~
J
%)!General administration department~
ffffff,@ %!Total number of employees~
~
%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2xCuM=PF0*8X>
@2
l f
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U}$ }}$ }}
$ }}$
EHang Holdings LtdF1
10/31/2019
Facilities
Location Approximate Size Primary Use
Lease Expiration
in Square Meters
Date Guangzhou
Yixiang Technology Park~
foffice, research and
June 30, 2020
development, and
manufacturingNo. 11 Aoti Road~
:office, research and
March 30, 2020development, andtestingHaixinsha area~
:office
July 31, 2020$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 w0)4duv=PF0*8X>
@B
l ;
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }'}$ }}$ }0
EHang Holdings LtdF1
10/31/2019( Directors and Executive Officers( Directors and Executive Officers Age Position/Title
Huazhi Hu
~

%Founder, Chairman and Chief ExecutiveOfficerDerrick Yifang Xiong~
z0(Cofounder, Director and Chief Marketing
OfficerJenny Hongwei Lee~
DirectorHaoxiang Hou~
zIndependent DirectorConor Chiahung Yang~
'Independent Director Appointee*Richard Jian Liu~
Chief Financial OfficerEdward Huaxiang Xu~
Chief Strategy Officer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4.yma%L L&[OC=PF0*8X>
@
l O
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive OfficerPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a}$ }y}$ }0}$ }a
EHang Holdings LtdF1
10/31/2019!2015 Share Incentive Plan Name Class A
Date of Grant Date of Expiration
Ordinary Shares
UnderlyingRestricted Share
UnitsEdward Huaxiang Xu *July 1, 2019
June 30, 2029Other employees~
\August 1, 2015 ~July 31, 2025 ~December 19, 2016December 18, 2026$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0othr?=PF0*8X>
@B
l %2[3
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a/}$ }}$ } }/$
%0000000000 0
000
0000000000000000000EHang Holdings LtdF1
10/31/2019PRINCIPAL SHAREHOLDERS
Ordinary Shares
.
&Beneficially Owned After This OfferingOrdinary Shares
Class A
Class B
Total% of% of Beneficially Owned Prior
Ordinary
OrdinaryOrdinary
Beneficial Aggregate
to This Offering
Shares
Shares
Shares on an
Ownership
Voting
asConvertedPower***Number %
Basis+#Directors and Executive Officers**:
!"#$%&'()*+,./
Huazhi Hu (1)~
a
F@
Derrick Yifang Xiong (2)~
g333333@
Jenny Hongwei Lee (3)~
%@
Haoxiang Hou * *
Conor ChiaHung Yang ? ? ?
Richard Jian Liu (4)~
XO?
Edward Huaxiang Xu ? ?
/'All Directors and Executive Officers as~
fffffN@
a Group
Principal Shareholders:
"Genesis Rising Limited (1)~
a
F@
Ballman Inc. (5)~
6ffffff@
( Entities affiliated with GGV (3)~
%@
'Zhen Partners Fund II, L.P. (6)~
n1ffffff@
D lwkZ2OchU 0!0"0#0$0 !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
P=PF0*8X>
@$$##""
l 3PU
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }y<}$ }7
3
EHang Holdings LtdF1
10/31/2019Fees and Expenses0 (Persons depositing or withdrawing shares
For :!
or ADS holders must pay :0($5.00 (or less) per 100 ADSs (or portion%Issuance of ADSs, including issuancesof 100 ADSs)/'resulting from a distribution of shares
#
or rights or other property/'Cancellation of ADSs for the purpose of6.withdrawal, including if the deposit agreement
terminates$.05 (or less) per ADS,$Any cash distribution to ADS holders1)A fee equivalent to the fee that would be.&Distribution of securities distributed0(payable if securities distributed to you5to holders of deposited securities (including91had been shares and the shares had been deposited6.rights) that are distributed by the depositaryfor issuance of ADSsto ADS holders0($.05 (or less) per ADS per calendar yearDepositary services%Registration or transfer fees.&Transfer and registration of shares on1)our share register to or from the name of4,the depositary or its agent when you depositor withdraw sharesD lpLe`jRf&Z !"#$%&'()*+,./012 "!Expenses of the depositary!!%Cable (including SWIFT) and facsimile""."&transmissions (when expressly provided##!#in the deposit agreement)$$$%%3%+Converting foreign currency to U.S. dollars&&0'(Taxes and other governmental charges the''As necessary1()depositary or the custodian has to pay on0)(any ADSs or shares underlying ADSs, such:*2as stock transfer taxes, stamp duty or withholding
+taxes,,.&Any charges incurred by the depositaryAs necessary1.)or its agents for servicing the deposited/
securities$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/*ch;stcK=PF0*8X>
@221100
l m
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }m)}$
EHang Holdings LtdF1
10/31/2019UNDERWRITING Name Number of
ADSs Morgan Stanley & Co. LLC*"Credit Suisse Securities (USA) LLC
Needham & Company, LLC
"Tiger Brokers (NZ) LimitedTotal:$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0eu9"z8=PF0*8X>
@*
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITING!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }0.}$ }I }$ }}$ }m
EHang Holdings LtdF1
10/31/2019UNDERWRITING
Total
Per ADS
No Exercise
Full ExercisePublic offering priceUS$US$US$.&Underwriting discounts and commissions
to be paid by:
usUS$US$US$( Proceeds, before expenses, to usUS$US$US$$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.u!mgsK=PF0*8X>
@"
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }6}$ }}$
EHang Holdings LtdF1
10/31/2019)!EXPENSES RELATED TO THIS OFFERING SEC Registration Fee US$
FINRA Fee
5Nasdaq Global Market Market Entry and ListingFee'
Printing and Engraving Expenses
Legal Fees and Expenses$Accounting Fees and Expenses
Miscellaneous
TotalUS$$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6xl`$#fE =PF0*8X>
@
l +Y
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }7}$ }}$
+
EHang Holdings LtdF1
10/31/20192*INDEX TO CONSOLIDATED FINANCIAL STATEMENTS PAGE(S) /
'Report of Independent Registered Public
F2
Accounting Firm6.Consolidated Balance Sheets as of December 31, F3  F6
2017 and 20180(Consolidated Statements of Comprehensive F7  F82*Loss for the Years Ended December 31, 2017and 2018%Consolidated Statements of Changes inF91)Shareholders? Deficit for the Years Ended"December 31, 2017 and 2018%Consolidated Statements of Cash FlowsF10  F111)for the Years Ended December 31, 2017 and~
6.Notes to the Consolidated Financial StatementsF12  F500(Unaudited Interim Condensed ConsolidatedF51  F542*Balance Sheets as of December 31, 2018 and
June 30, 20190(Unaudited Interim Condensed ConsolidatedF55  F560(Statements of Comprehensive Loss for the/'Six Months Ended June 30, 2018 and 20190(Unaudited Interim Condensed ConsolidatedF57%Statement of Changes in Shareholders?Dp l{ocW~cj4 a= !"#$%&'()*1 )Deficit for the Six Months Ended June 30,!
2018 and 20190"(Unaudited Interim Condensed Consolidated"""F58"2#*Statement of Cash Flows for the Six Months$$Ended June 30, 2018 and 20190%(Notes to the Unaudited Interim Condensed%%%F59  F74%)&!Consolidated Financial Statements'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/)J}PD=PF0*8X>
@"**))((
l 
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }8}$ }}$ }}
$ }}$ }
}$

EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
Notes
~
~
~
RMB
RMB
US$RMBUS$
Proforma shareholders?
equity
(Unaudited)ASSETS
Current assets:
!Cash and cash equivalents~
>
~
>
~
Shortterm investments~
~
ba
?
?%Accounts receivable, net of allowance~
~
a
~
'
~
7/of RMB124 and RMB392 (US$57) as of December 31,#2017 and 2018, respectively0(Cost and estimated earnings in excess of~
?
~
~
)billingsInventories~
"~
~
6=
~
,$Prepayments and other current assets~
&~
[
~
&
~
"
Total current assets~
~
5
~
Noncurrent assets:
*"Property, plant and equipment, net~
*~
0
~
)
~
b+Intangible assets, net~
N
~
.
~
Dlvj^R&&OeQe*U_ !"#$%&'()*+, Longterm investments ~
: ~

~
/
~
!Deferred tax assets!!~
!B!!! !?!! !
~
!!!
!~
!R!!!!!!!!! "Other noncurrent assets"""""" "?"" "
~
"B""
"~
""""""""""########## #
###
########### $Total noncurrent assets$$$$$$~
$f$$ $
~
$f$$
$~
$*4$$$$$$$$$%%%%%%%%%% %
%%%
%%%%%%%%%%%&Total assets&&&&&&~
&J[ && &
~
&&&
&~
&&&&&&&&&&'''''''''' '
'''
'''''''''''()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/q(H=PF0*8X>
@,,++**
l 1!.
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }8}$ }}$ }}$ }
}
$ }
U}$
1
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
Notes
~
~
~
RMBRMB
US$RMBUS$
Proforma shareholders?
equity(Unaudited)7/LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS?
DEFICIT.&Current liabilities (including current
/'liabilities of the VIE without recourse/'to the primary beneficiary of RMB11,9403+and RMB23,703 (US$3,453) as of December 31,$2017 and 2018, respectively)Shortterm bank loan~
. ?~
"N
~
bAccounts payable~
~
~
^!Customer advances~
~
N\
~
r
.&Accrued expenses and other liabilities~
2~
~
v
~
G%Deferred government subsidies~
B~
B
~
2
!Total current liabilities~
~
.x
~
^
6.Noncurrent liabilities (including noncurrent
/'liabilities of the VIE without recourseDxlvj^R>Ib*g4Q} !"#$%&'()*+,./01 )to the primary beneficiary of nil and nil2!*(US$nil) as of December 31, 2017 and 2018,"
respectively) #Deferred tax liabilities#~
#B##~
####~
# #
##~
#
######### $Unrecognized tax benefit$~
$B$$~
$rL$$$~
$ rL$
$$~
$
&$$$$$$$$$%%Deferred government subsidies%%%%~
%%%%~
% r%
%%~
%
%%%%%%%%%&&&&&&&&&& &
&&&
&&&&&&&&&%'Total noncurrent liabilities''''~
'U'''~
' rT'
''~
'
R'''''''''(((((((((( (
(((
((((((((()Total liabilities))))~
)X)))~
) )
))~
)
)))))))))********** *
***
*********%+Commitments and Contingencies+~
+Z+++++++ +
+++
+++++++++,$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@H~S?=PF0*8X>
@z00//..
l 3T^
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }8}$ }$}$ }}
$ }}$ }
}$ }$}$ }$}$
3
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
Notes
~
~
~
RMB
RMB
US$RMBUS$
Proforma shareholders?
equity
(Unaudited)2*MEZZANINE EQUITY AND SHAREHOLDERS? DEFICIT
Mezzanine equity:2*Series Seed 1 convertible preferred shares~
J~
b
~
b
~
? ?.&(US$0.0001 par value; 7,281,000 shares%authorized, issued and outstanding as4,of December 31, 2017 and 2018, respectively)2*Series Seed 2 convertible preferred shares~
J~
~
~
? ?.&(US$0.0001 par value; 7,281,000 shares%authorized, issued and outstanding as4,of December 31, 2017 and 2018, respectively)2*Series Seed 3 convertible preferred shares~
J~
~
~
? ?.&(US$0.0001 par value; 1,456,200 shares%authorized, issued and outstanding as4,of December 31, 2017 and 2018, respectively)1)Series A redeemable convertible preferred~
J~
~
~
^ ? ?.&shares (US$0.0001 par value; 8,119,0321)shares authorized, issued and outstandingDlvj^R&&OehKPUZ !"#$%&'()*+,./0127 /as of December 31, 2017 and 2018, respectively)1!)Series B redeemable convertible preferred!!~
!J!!!~
!!! !
~
!!!
!~
!X!!! !?!!! !?!/"'shares (US$0.0001 par value; 12,152,247,#$shares authorized, 11,172,291 shares1$)issued and outstanding as of December 31,$%2017 and 2018, respectively)1&)Series C redeemable convertible preferred&&~
&J&&&~
&&& &
~
&&&
&~
&.)&&& &?&&& &?&0'(shares, (US$0.0001 par value; 22,552,2072(*shares authorized, 2,559,181 shares issued/)'and outstanding as of December 31, 2017*and 2018, respectively)++++++++++ +
+++
+++++++++++,Total mezzanine equity,,,,,,~
,$,, ,
~
,$,,
,~
,n`,,, ,?,,, ,?, 

./$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/*@
hf3G[=PF0*8X>
@221100
l /S
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }I}
$ }I}$ }}$ }
}$ }
}$
/
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
Notes
~
~
~
RMB
RMB
US$RMBUS$
Proforma shareholders?
equity
(Unaudited)'Shareholders? (deficit)/equity:
/'Ordinary shares (par value of US$0.0001~
~
~
1)per share; 441,158,314 shares authorized;0(56,791,800 shares issued and outstanding)!as of December 31, 2017 and 2018).&Class A ordinary shares (US$0.0001 par
~
~
/'value; 1,904,577,337 shares authorized;0(49,237,841 shares issued and outstanding( on a pro forma basis, unaudited).&Class B ordinary shares (US$0.0001 par
~
r~
,$value; 45,422,663 shares authorized,4,issued and outstanding on a pro forma basis,
unaudited)"Additional paidin capital~
~
"q
~
~
Y*~
N+Statutory reserves~
F
~
~
~
~
Accumulated deficit~
Ɖ
~
R
~
F~
R~
F.&Accumulated other comprehensive income~
Zo
~
F
~
"~
F~
"Dlvj^R&&Oes.Ew/ !"#$%&'()*+,.
2!*Total EHang Holdings Limited shareholders?!!!!!!~
!!! !
~
!ֳ!!
!~
!R&!!!~
!!!!~
!!"(deficit)/equity!#Noncontrolling interests######~
# ## #
~
#z2##
#~
#^###~
#z2###~
#^#$$$$$$$$$$ $
$$$
$$$$$$$$$$$,%$Total shareholders? (deficit)/equity%%%%%%~
%%% %
~
%N%%
%~
%%%%~
%b%%%~
%%&&&&&&&&&& &
&&&
&&&&&&&&&&&/''Total liabilities, mezzanine equity and''''''~
'J[ '' '
~
'''
'~
''''''''''(shareholders? deficit)))))))))) )
)))
)))))))))))*+$,____________________________1)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"$tX Wq=PF0*8X>
@..,,
l 8D
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }$}$ }}
$ }}$ }
}$
8
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
Notes
~
~
RMB
RMB
US$ Revenues:
Products
~
6
~
~
~
M
Services~
6~
V
~
~
rI
Total revenues~
>
~
~
VCosts of revenues~
&R
~
r
~
~
Gross profit~
bA
~
N
~
L
Operating expenses:
$Sales and marketing expenses~
%
~
~
+#General and administrative expenses~
~
v
~
6)!Research and development expenses~
~
2R
~
v Total operating expenses~
~
n
~
Other operating income~
bC
~
~
Operating loss~
P
~
Nv
~
V
Other income/(expense):
Interest income~
~
~
jDlvj^R<`')6Ld !"#$%&'()*+,./01234567 Interest expenses ?
~
2
~
!Foreign exchange gain!!!!!!~
!!! !
~
!!!
!~
!*!/"'Loss on deconsolidation of subsidiaries""~
""""~
"N"" "
"?""
" "?"#Other income##~
#:###~
#F## #
~
#j##
#~
##$
Other expense$$$$$$~
$$$ $
~
$$$
$~
$~$%%%%%%%%%% %
%%%
%%%$&Total other income/(expense)&&&&&&~
&&& &
~
&2&&
&~
&&'''' '
4(,Loss before income tax and share of net loss((((((~
(F(( (
~
(~((
(~
(fI()from an equity investee********** *
***
***+Income tax expenses++~
+B+++~
+++ +
~
+++
+~
++,,,,,,,,,, ,
,,,
,,,4,Loss before share of net loss from an equity~
F 
~
N
~
:I.investee1/)Share of net loss from an equity investee////// /?// /
~
/z//
/~
//0000000000 0
000
0001Net loss111111~
1F11 1
~
111
1~
1H12222222222 2
222
22234$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/47>^h7k_S+=PF0*8X>
@R
776655
l ?hn
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I;}$ }$}$ }
}
$ }
}$ }
}$
?
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
Notes
~
~
RMB
RMB
US$Net loss~
F
~
~
H9
1Net (income)/loss attributable to noncontrolling
~
~
~
interests
/'Net loss attributable to EHang Holdings~
ީ
~
+
~
KLimited3+Accretion to redemption value of redeemable~
ʉ
?
?$convertible preferred shares
6.Net loss attributable to ordinary shareholders~
3
~
+
~
K
Net loss per share:
Basic and diluted~
RQ
=
ףp=
ɿ
5Shares used in net loss per share computation
!(in thousands of shares):Basic and diluted~
R~
bw
~
bw
~
bw
0(Pro forma loss per share attributable to
Dlvj^R/6#(44h !"#$%&'()*+,./0123456789:;<=>1 )Class A and Class B ordinary shareholders!(unaudited):"Basic and diluted""~
"R"""""" "
"zG""
""Q"########## #
###
###4$,Class A and Class B shares used in pro forma$$$$$$$$$ $
$$$
$$$0%(loss per share computation (in thousands&of shares) (unaudited):'Basic and diluted''~
'R'''''' '
~
'''
'~
''(((((((((( (
(((
(((")Other comprehensive income))))))))) )
)))
)))0*(Foreign currency translation adjustments******~
*.z** *
~
***
*~
**+net of tax of nil,%Reclassification of accumulated other,,,,,,~
,N,, ,
,?,,
, ,?,/'comprehensive income on deconsolidation).!of subsidiaries net of tax of nil////////// /
///
///0%Total other comprehensive income, net000000~
0ze00 0
~
000
0~
001of tax2222222222 2
222
2223Comprehensive loss333333~
333 3
~
3133
3~
3L304(Comprehensive (income)/loss attributable444444~
444 4
~
444
4~
44$5to noncontrolling interests6666666666 6
666
66607(Comprehensive loss attributable to EHang777777~
7V77 7
~
7F77
7~
7O78Holdings Limited9999999999 9
999
999:;$<____________________________1=)Created by Morningstar Document Research.0>(http://documentresearch.morningstar.com/BX'9?#WK?=PF0*8X>
@R
>>==<<
l (DK
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }6Issuance of a subsidiary?s equity to a noncontrolling ? ?
?
? ? ? ?~
> !"~
#>$interest holder"Other comprehensive income ? ?
?
~
? ?~
? !"~
#$+#Appropriation of statutory reserves
~
R~
? !" #?$
!"#$'Balance as of December 31, 2018~
K
~
~
"q
~
F~
~
R~
ֳ~
z2 !"~
#N$D)lvj^Rj)oLlo OorWuސ %!%"%#%$%%%&%'%
! " # $!%Balance as of December 31, 2018 (US$)!!~
!K
!!!~
!!! !
~
!!!
!~
!"!!!~
!!!!~
!F!!!~
!R&!!!~
!^! !!!"~
!#!$"""""""""" "
"""
""""""""""""""""""" "!"""#"$#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/DQ}U=PF0*8X>
@"''$&&$%%$
"#
"#
"#
l <p
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }:}$ }
}$ }
}
$ }
}$
<
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
~
~
RMBRMB
US$,$CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
~
F
~
~
H
0(Adjustments to reconcile net loss to net
*"cash used in operating activities:%Depreciation and amortization~
fE~
W
~
%Deferred income tax expense (benefit)~
~
~
Sharebased compensation~
~
r\
~
2/'Loss on disposal of property, plant and~
~
~
~
^ equipment4,Noncash consideration for services provided~
f ?
?/'Loss on deconsolidation of subsidiaries~
?
?1)Share of net loss from an equity investee ?~
~
b0(Impairment of film investment as passive ?~
}
~
6investor'Allowance for doubtful accounts~
~
~
4,Changes in operating assets and liabilities:
Accounts receivable~
F"~
5
~
0(Cost and estimated earnings in excess of ?~
V
~
billingsInventories~
~
~
FD>lvj^RgTb"YDx
I
!
"
#
$
%
&
'
(
)
*
+
,

.
/
0
1
2
3
4
5
6
7
8
9
:
;
, $Prepayments and other current assets ~
"r ~
r
~
!Loan to a related party!! !?!!!~
!^!! !
~
!
! "Other noncurrent assets"" "?"""~
""" "
~
"b"#Accounts payable##~
####~
#V## #
~
##$Customer advances$$~
$R$$$~
$nI$$ $
~
$
$%%Deferred government subsidies%%~
%%%%~
%%% %
~
%% &Unrecognized tax benefit&&~
&rL&&& &?&& &
&?&.'&Accrued expenses and other liabilities''~
'vv'''~
'b^'' '
~
'
'(((((((((( (
((2)*Net cash flow used in operating activities))~
))))~
)Y)) )
~
)2)********** *
**,+$CASH FLOWS FROM INVESTING ACTIVITIES+++++++++ +
++',Deconsolidation of subsidiaries,,~
,,,, ,?,, ,
,?,( Acquisition of intangible assets ?~
 
~
*."Purchase of shortterm investments..~
.!...~
.JA.. .
~
.z.8/0Proceeds from maturity of shortterm investments//~
/}///~
/ // /
~
/NT/*0"Purchase of property and equipment00~
0zG000~
000 0
~
00(1 Purchase of longterm investment11 1?111~
1R11 1
~
1R1+2#Film investment as passive investor22 2?222~
222 2
~
223333333333 3
3354Net cash flow (used in)/provided by investing44~
4444~
4^44 4
~
4:45
activities6666666666 6
6678$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/<:d%!aKf=PF0*8X>
@J ;;::99
l ,U
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }6}$ }}$ }
}
$ }U}$
,
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
~
~
RMBRMB
US$,$CASH FLOWS FROM FINANCING ACTIVITIES
,
$Proceeds from a shortterm bank loan
?
~
"N
~
b
.&Proceeds from loans from third parties ?~
B
~
+#Repayment of loans to third parties ?~
"
~
.0(Proceeds from issuance of a subsidiary?s ?~
>
~
3+equity to a noncontrolling interest holder5Proceeds from issuance of Series C redeemable~
?
?$convertible preferred shares
1)Net cash provided by financing activities~
~
~
n$
/'Effect of exchange rate changes on cash~
w~
~
and cash equivalents
0(Net (decrease)/increase in cash and cash~
v~
~
&equivalents2*Cash and cash equivalents at the beginning~
ʦ~
>
~
of year
4,Cash and cash equivalents at the end of year~
>~
>
~
Dlvj^Rg B~~"7 TA
!
"
#
$
%
&
'
(
)
*
+
!%Supplemental disclosures of cash flow!!!!!!!!! !
!!"information:#
Interest paid## #?###~
### #
~
##$Income taxes paid$$ $?$$$~
$
$$ $
~
$$&%Noncash investing activities:%%%%%%%%% %
%%&%Acquisition of a longterm investment&&~
&f&&& &?&& &
&?&'($)____________________________1*)Created by Morningstar Document Research.0+(http://documentresearch.morningstar.com/d+ql=PF0*8X>
@J ++**))
l /O<
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }1}$ }$}$ }}$ }U}$}
$ }U}$}
$ }
/
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
Entities Date of incorporation/ Place of
Percentage of
Principal activities
establishment
incorporation/
direct or indirect
establishment ownership
Subsidiaries:Direct
Indirect
*"Ehfly Technology Limited (?Ehfly?)December 5, 2014 Hong Kong~
%
?
Product sales
investment holding
/'EHang Intelligent Equipment (Guangzhou)October 15, 2015PRC~
%
?
Research and%Co., Ltd. (?EHang Intelligent? or the
development,?WFOE?)
manufacturing and
product sales
1)Xi?an EHang Tianyu Intelligent Technology
March 8, 2018PRC~
%
?
Logistics solutions"Co., Ltd. (?EHang Tianyu?)
and related
services
Variable Interest Entity
.&Guangzhou EHang Intelligent TechnologyAugust 8, 2014PRC ?
~
%
Research and+#Co., Ltd. (?EHang GZ? or the ?VIE?)
development,
manufacturing and
product salesDlvj^R^=/8w/+RN:?\ !"#$%&'()*+,.
!VIE?s subsidiaries!!!!!!!!! !
!!!
!""""" "
.#&Guangdong EHang Egret Media Technology##July 6, 2016##PRC## #?## #
~
# #%#
#Aerial media#$Co. Ltd. (?EHang Egret GD?)$$$$$$$$$ $
$$$
$
solutions and%%%%%%%%%% %
%%%
%related services&&&&& &
.'&Kashi EHang Egret Media Technology Co.''November 3, 2017''PRC'' '?'' '
~
' '%'
'Aerial media(Ltd. (?EHang Egret KS?)((((((((( (
(((
(
solutions and)))))))))) )
)))
)related services*+$,____________________________1)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"0$=PF0*8X>
@B..,,
l )G
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }2}$ }}$ }}
$ }
}$
)
EHang Holdings LtdF1
10/31/2019%Commitment Letter (Continued)
As of December 31,
~
~
RMBRMB
US$ASSETS
Current assets:
!Cash and cash equivalents~
ֵ~
:
~
Shortterm investments~
8 ?
? Accounts receivable, net~
*~
%
~
j0(Cost and estimated earnings in excess of ?~
~
)billingsInventories~
~
.
~
2*Amount due from the Company?s subsidiaries~
F~
JJ
~
,$Prepayments and other current assets~
\~
Vn
~
Total current assets~
~
68
~
x
Noncurrent assets:
*"Property, plant and equipment, net~
~
~
Intangible assets, net~
~
J
~
~Longterm investment ?~
*
~
RDeferred tax assets ?~
~
R Other noncurrent assets ?~
B
~
D>lpd.`5lX}+K
!
"
#
$
%
&
'
(
Total noncurrent assets ~
V ~
r
~
!!!!!!!!!! !
!!"Total assets""~
"X"""~
""" "
~
""########## #
##$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/F`TH =PF0*8X>
@J ((''&&
l &
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }8}$ }
}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$LIABILITIES
Current liabilities:
Shortterm bank loan ?~
"N
~
bAccounts payable~
L~
z
~
Customer advances~
~
~
0(Accrued expenses and current liabilities~
_~
~
7/Amounts due to the Company and its subsidiaries~
~~
9
~
!Total current liabilities~
~
~
Total liabilities~
~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>
0vj^RtD*`8MA5
=PF0*8X>
@J
l C
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }1}$ }}$ }}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
~
~
RMBRMB
US$Net revenues~
r~
6
~
f
Net loss
~
Z
~
Y
~
0(Net cash provided by/(used in) operating~
v:~
N
~
F
activities0(Net cash (used in)/provided by investing~
*d~
~
'
activities1)Net cash provided by financing activities ?~
~
~0(Net (decrease)/increase in cash and cash~
~
ބ
~
^equivalents$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 vj^Rg6lVv=PF0*8X>
@J
l [
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }m)}$ }6}$ }
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data) Category Estimated useful life Residual value
Office equipment
5 years
5%*"Machinery and electronic equipment
310 years
5% Transportation equipment4 years
5%
Leasehold improvements
5
Shorter of lease term or the estimated useful
0%lives of the assets$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*>hvj^RZ=PF0*8X>
@
l z
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a}$ }}$ }$}$}
$ }}$ }
}$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
~
~
RMB %
RMB
US$ %PRC~
Js~
. %
~
~
J~
%
United States
~
h
~
V
%
?
?
?
Other~
~
%
~
Z
~
?
Total net revenues~
>~
%
~
~
V~
%
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2vj^RVguy_cWK#=PF0*8X>
@Z
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }y
}$ }
}$ }}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
For the year ended
December 31,~
~
RMBRMB
US$
Customer
A~
A *
* B~
3 *
* C *~
Z<
~
. D *~
~
E *~
{
~
F *~
&o
~
2$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 vj^RtDk&A=PF0*8X>
@R
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }%}$ }
}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$Accounts receivable~
c~

~
'
Allowance for doubtful accounts
~
~
~
~
a~
'
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0vj^Rt%K?3=PF0*8X>
@J
l A
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a/}$ } }$ } }
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$( Balance at beginning of the year ?~
~
/
'Additional provision charged to expense
~
~
~
f
&Balance at the end of the year~
~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0Hvj^Rtu
=PF0*8X>
@J
l c
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a/}$ }$}$ }}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$/'Contracts costs incurred plus estimated ?~
~
A
earningsLess: Progress billings ?~
]
~
^
?~
~
)
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2Gvj^Rtk."=PF0*8X>
@J
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }}$ }}$ }}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$
Raw materials~
bb~
3
~
,
Finished goods
~
~
~
%
Inventories, total~
Z~
8
~
RInventories provision~
~
~
~
Inventories, net~
~
6=
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6R
vj^Rt<5K?3=PF0*8X>
@J
l !
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }}$ }}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$VAT prepayments~
~
^K
~
Staff advances
~
~
:
~
Advance to suppliers~
:J~
=
~
Others~
*~
:
~
r
~
[~
&
~
"
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 vj^Rt:@=PF0*8X>
@J
l A
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }m)}$ }
}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$Office equipment~
v~
~
*
"Machinery and electronic equipment
~
~
~
^
~
Transportation equipment~
~
F"
~
Leasehold improvements~
~
~
! Construction in progress~
r4~
2D
~
~
ڤ~
~
G&Less: accumulated depreciation~
ʋ~
=
~
~
0~
)
~
b+
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<vj^Rt%k]_! =PF0*8X>
@J
l _
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I"}$ }
}$ }
}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$ Loans from third parties ?~
fq
~
$
Payroll and welfare payables
~
z
~
~
"
Other taxes payable~
~
>
~
Payables for service fee~
C~
E
~
2
Warranties~
~
V
~
2Payables to suppliers~
z!~
7
~
&
~
~
v
~
G
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/89vj^Rt$o Rxl`8=PF0*8X>
@J
l !
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }%}$ }
}$ }}
$ }
}$
!
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
For the year ended
December 31,~
~
RMBRMB
US$
Revenues?Products
'Smart city management solutions~
6~
~
REAir mobility solutions ?~
*!
~
Others~
~
~
Subtotal?Products~
~
~
M
Revenues?Services
Aerial media solutions~
V~
~
2GAir mobility solutions ?~
n
~
B
Subtotal?Services~
V~
~
rI
Total Revenues~
>~
~
V
$____________________________1)Created by Morningstar Document Research.Dlvj^RtDkFONH`TH
0 (http://documentresearch.morningstar.com/H=PF0*8X>
@R
l M
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }!}$ }y}$ }}
$ } }$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
Number of Weighted average
Weighted average
RSUs
grant date fair
remaining
value
contractual life
(US$)
(Years)!
Unvested, January 1, 2018
~
*
m4@
Gz?
Granted ? ?
Vested~
ߛm4@
Forfeited ? ?
#Unvested, December 31, 2018~
_m4@
?
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6
vj^Rj'b=PF0*8X>
@j
l R
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }
}$ }U}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
For the year ended
December 31,~
~
RMBRMB
US$
Cost of revenues
~
~
~
$Sales and marketing expenses~
,~
2
~
f+#General and administrative expenses~
B~
Z
~
n)!Research and development expenses~
ƹ~
}
~
V
~
~
r\
~
2
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6
vj^RtDk6s5Y=PF0*8X>
@R
l &
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24) PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I }$ }
}$ }
}
$ }}$
EHang Holdings LtdF1
10/31/2019PRC
' For the year ended December 31,
~
~
RMBRMB
US$NonPRC~
fn~
~
PRC
~
~
f
~
r
~
F~
~
I
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0~;l.zR=PF0*8X>
@J
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I }$ }
}$ }U}
$ }$}$
EHang Holdings LtdF1
10/31/2019PRC
' For the year ended December 31,
~
~
RMBRMB
US$NonPRC~
rL~
N
~
~
PRC
~
~
~
~
Q~
2
~
.
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0~;l.zR=PF0*8X>
@J
l $#
X
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }7}$ }
}$}$ }
}$}
$ }
}$
$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
~
~
RMBRMB
US$&Loss before income tax expense~
F~
~
I
PRC statutory tax rate
~
f
%
~
f
%
~
f
%0(Income tax benefits at PRC statutory tax~
~
~
Frate of 25%2*Effect of different tax rates in different~
~
*R
~
jurisdictionsNondeductible expenses~
F~
&
~
Statutory expense~
?
?Deemed sales and cost~
r~
.
~
)!Research and development expenses~
~

~
.&Effect on adoption of preferential tax ?~
~
:rate6.Changes in tax rate in measurement of deferred ?~
r
~
6tax Unrecognized tax benefit~
rL ?
?%Change in valuation allowance~
jw~
~I
~
/
Income tax expenses~
Q~
2
~
.
D<lvj^RgI2fM,i=
!
"
#
$!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/<=PF0*8X>
@J ##""!!
l "7;
<
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }6}$ }
}$ }
}
$ }
}$
"
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of December 31,
~
~
RMBRMB
US$'Noncurrent deferred tax assets
Allowance for inventory
~
ދ
~
x
~
Welfare payables~
B~
~
&5Provision for allowance for doubtful accounts~
&~
~
N.&Accrued expenses and other liabilities~
~
~
%Deferred government subsidies~
~~
.
~
.Advertising cost~
?
?
Tax losses~
*~
1
~
n!Less: valuation allowance~
Nz~
0
~
L
Deferred tax assets, net ?~
~
R
,$Noncurrent deferred tax liabilities
/'Unrealized gain on longterm investment~
~
~
Deferred tax liabilities~
~
~
$____________________________D$lvj^Rt'uolW8
!
1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X>
@J !!
l V
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }+}$ }}$ }}
$ }U}$
EHang Holdings LtdF1
10/31/2019 Unrecognized Tax Benefit
' For the year ended December 31,
~
~
RMBRMB
US$,$Balance at the beginning of the year ?~
~
&
Increase
~
?
?
"Balance at end of the year~
~
~
&
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0ui~&8D8,=PF0*8X>
@J
l =v
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$}$ }a}$ } y}
$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
Name
Issuance Date Original Issuance Number of
Price per
Shares
Share&Series Seed 1 preferred sharesMarch 23, 2015K7A`?~
e
&
Series Seed 2 preferred shares
March 23, 2015
y&1?
~
e
&Series Seed 3 preferred sharesMarch 23, 2015Bi?~
"X
!Series A preferred sharesMarch 23, 2015Ș?~
#
!Series A preferred sharesAugust 19, 2015Ș?~
>hj
!Series B preferred sharesAugust 21, 2015y):
@~
2
!Series B preferred sharesNovember 20, 2015y):
@~
d
!Series B preferred sharesFebruary 23, 2016y):
@~
:u
!Series C preferred sharesDecember 27, 2016_L@~
g
!Series C preferred sharesJune 5, 2017_L@~
!Series C preferred sharesSeptember 20, 2017_L@~
>
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<vj^R7/48>2&=PF0*8X>
@
l J
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }%}$ }}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data) Mezzanine equity Series C
preferredsharesRMB%
Balance as of January 1, 2017
~
zm
Issuance~
f%Accretion to redemption value~
:v'Balance as of December 31, 2017~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4vj^RwDHsg[3=PF0*8X>
@:
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }}$ }$}
$ }$}$ }}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
2 *Fair Value Measurements as of December 31,
2017 usingQuoted Price inSignificant
Unobservable
Total fairActive Market for
Other
Inputs
value
Identical Assets
Observable
(Level 3) (Level 1)Inputs (Level 2)RMBRMB
RMB
RMBFair value measurement
Shortterm investments~
ba ?
?
~
ba
+#Total assets measured at fair value~
ba ?
?
~
ba
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:vj^R,2>?3'=PF0*8X>
@
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }7}$ }
}$ }
}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
' For the year ended December 31,
~
~
RMBRMB
US$
Numerator:
/
'Net loss attributable to Ehang Holdings
~
ީ
~
+
~
K
Limited3+Accretion to redemption value of Redeemable~
ʉ ?
?$Convertible Preferred Shares
6.Net loss attributable to ordinary shareholders~
3~
+
~
K
%Denominator (in thousands of shares):
2*Weightedaverage number of ordinary shares~
bw~
bw
~
bw%outstanding?basic and diluted
( Loss per share?basic and dilutedQ=
ףp=
ɿ
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlvj^RgA} T+%
=PF0*8X>
@J
l (
G
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }:}$ }
}$ }}
$ }
}$ }}$
(
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
$ Year ended December 31, 2018
Class A
Class B
RMBUS$
RMB
US$(unaudited)
Numerator:
6.Net loss attributable to ordinary shareholders~
}~
V
~
ڮ
~
80Add: Accretion to redemption value of redeemable ? ?
?
?$convertible preferred shares
1)Numerator for pro forma basic and diluted~
}~
V
~
ڮ
~
loss per share
%Denominator (in thousands of shares):
.&Weighted average number of shares used~
&~
&
~
>
~
>2*in calculating net loss per ordinary share? basic and diluted1)Add: adjustment to reflect assumed effect~
6:~
6:
~
~
3+of automatic conversion of Preferred Sharesto ordinary shares
5Weighted average number of shares outstanding~
Z~
Z
~
~
1)used for pro forma basic and diluted loss per shareDlvj^R:0),FU[% !"#$%&'
4!,Pro forma loss per share ? basic and diluted!!!zG!!!!Q!! !
!zG!!
!!Q!"""""""""" "
"""
"""#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/4$XL@=PF0*8X>
@Z''&&%%
l w
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }}$ }
}$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data) RMB US$ ~
~
t
~
~
~
A~
~
~
~
F~
~
~
R
2023 and thereafter~
~
v
Total~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2vj^R6A`=PF0*8X>
@*
l V6ER
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }8}$ }}$ }
}
$ }U}$
V
EHang Holdings LtdF1
10/31/2019 Condensed balance sheets
As of December 31,
~
~
RMBRMB
US$ASSETS
Current assets
!Cash and cash equivalents~
.%~
a
~
:
Total current assets~
.%~
a
~
:
Noncurrent assets
0(Investments in subsidiaries, the VIE and~
~
E
~
zsubsidiaries of the VIE
Total noncurrent assets~
~
E
~
z
Total assets~
~
~
J
LIABILITIES
Current liabilities
.&Accrued expenses and other liabilities~
&
~
~
!Total current liabilities~
&
~
~
Dlui3fYE"0?,
!
"
#
$
%
&
'
(
)
*
+
,

.
/
0
1
2
3
4
5
6
7
8
9
:
;
<
=
>
?
Total liabilities ~
&
~
~
!!!!!!!!!! !
!!"""" 3#+MEZZANINE EQUITY AND SHAREHOLDERS? DEFICITS######### #
##$Mezzanine equity:$$$$$$$$$ $
$$2%*Series Seed 1 convertible preferred shares%%~
%b%%%~
%b%% %
~
%%.&&(US$0.0001 par value; 7,281,000 shares'%authorized, issued and outstanding as4(,of December 31, 2017 and 2018, respectively)2)*Series Seed 2 convertible preferred shares))~
))))~
))) )
~
)).*&(US$0.0001 par value; 7,281,000 shares+%authorized, issued and outstanding as4,,of December 31, 2017 and 2018, respectively)2*Series Seed 3 convertible preferred shares~
~
 
~
..&(US$0.0001 par value; 1,456,200 shares/%authorized, issued and outstanding as40,of December 31, 2017 and 2018, respectively)11)Series A redeemable convertible preferred11~
1111~
111 1
~
1^1.2&shares (US$0.0001 par value; 8,119,03213)shares authorized, issued and outstanding74/as of December 31, 2017 and 2018, respectively)15)Series B redeemable convertible preferred55~
5555~
555 5
~
5X5/6'shares (US$0.0001 par value; 12,152,247,7$shares authorized, 11,172,291 shares18)issued and outstanding as of December 31,$92017 and 2018, respectively)1:)Series C redeemable convertible preferred::~
::::~
::: :
~
:.):0;(shares, (US$0.0001 par value; 22,552,2072<*shares authorized, 2,559,181 shares issued/='and outstanding as of December 31, 2017>and 2018, respectively)?????????? ?
??DlM
Aw?sA
km=x@
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
@Total mezzanine equity@@~
@$@@@~
@$@@ @
~
@n`@AAAAAAAAAA A
AABShareholders? deficit:BBBBBBBBB B
BB/C'Ordinary shares (par value of US$0.0001CC~
CCCC~
CCC C
~
CC1D)per share; 441,158,314 shares authorized;0E(56,791,800 shares issued and outstanding7F/as of December 31, 2017 and 2018, respectively)"GAdditional paidin capitalGG~
GGGG~
G"qGG G
~
GGHStatutory reservesHH~
HFHHH~
HHH H
~
HH.I&Accumulated other comprehensive incomeII~
IZoIII~
IFII I
~
I"IJAccumulated deficitJJ~
JƉJJJ~
JRJJ J
~
JFJKKKKKKKKKK K
KK#LTotal shareholders? deficitLL~
LLLL~
LֳLL L
~
LR&LMMMMMMMMMM M
MM/N'Total liabilities, mezzanine equity andNN~
NNNN~
NNN N
~
NJNOshareholders? deficitPPPPPPPPPP P
PPQR$S____________________________1T)Created by Morningstar Document Research.0U(http://documentresearch.morningstar.com/0<H1UG%
=PF0*8X>
@J UUTTSS
l ,jv{
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$4}$ } }$ } }
$ } }$
,
EHang Holdings LtdF1
10/31/20192*Condensed statements of comprehensive loss
' For the year ended December 31,
~
~
RMBRMB
US$+#General and administrative expenses~
~
r
~
R
Total operating expenses~
~
r
~
R
Operating loss~
~
r
~
R
Interest income~
*~
?.&Share of losses from subsidiaries, the~
~
f7
~
M'VIE and subsidiaries of the VIE
Net loss~
ީ~
+
~
K
3+Accretion to redemption value of redeemable~
ʉ ?
?$convertible preferred shares
.&Net loss attributable to the Company?s~
3~
+
~
Kordinary shareholders
"Other comprehensive income
1)Foreign currency translation adjustments,~
ze~
~
D
l{ocWl2x,Q@
!
"
#
$
%
&
'
(
)
*
+
net of tax of nil!!!!!!!!!! !
!!."&Other comprehensive income, net of tax""~
"ze"""~
""" "
~
""########## #
##.$&Comprehensive loss attributable to the$$~
$$$$~
$F$$ $
~
$O$'%Company?s ordinary shareholders&&&&&&&&&& &
&&'($)____________________________1*)Created by Morningstar Document Research.0+(http://documentresearch.morningstar.com/EGTH<=PF0*8X>
@J ++**))
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ } }$ } }
$ } }$
EHang Holdings LtdF1
10/31/2019*"Condensed statements of cash flows
' For the year ended December 31,
~
~
RMBRMB
US$%Net cash used in operating activities~
&~
z
~
V4
,Net cash generated from financing activities
~
?
?
%Net cash used in investing activities~
k~
G
~
2
1)Net decrease in cash and cash equivalents~
"u~
v<
~
.&Cash and cash equivalents at beginning~
~
.%
~
*of the year
4,Cash and cash equivalents at end of the year~
.%~
a
~
:
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:wk_tA_=PF0*8X>
@J
l {
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }8}$ }}$ }}
$ }}$ }
}$

EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
Notes
December 31,
June 30,
June 30,
~
~
~
RMB
RMB
US$RMBUS$
Proforma shareholders?
equityASSETS
Current assets:
!Cash and cash equivalents~
>
~
~
Shortterm investments~
?
~
҄
~
Z%Accounts receivable, net of allowance~
~
'
~
"
~
.7/of RMB392 and RMB182 (US$27) as of December 31,,$2018 and June 30, 2019, respectively0(Cost and estimated earnings in excess of~
~
~
~
"billingsInventories~
~
6=
~
F
~
,$Prepayments and other current assets~
~
&
~
f
~
*4
Total current assets~
5
~
~
$
Noncurrent assets:
*"Property, plant and equipment, net~
"~
)
~
~
.'Intangible assets, net~
.
~
~
D
lvj^R&n{M`%FP !"#$%&'()*+, Longterm investments ~
/
~
/
~
!Deferred tax assets!!!!!!~
!!! !
~
!!!
!~
!R!!!!!!!!! "Other noncurrent assets""""""~
"B"" "
~
"""
"~
""""""""""########## #
###
########### $Total noncurrent assets$$$$$$~
$f$$ $
~
$fG$$
$~
$/$$$$$$$$$%%%%%%%%%% %
%%%
%%%%%%%%%%%&Total assets&&&&&&~
&&& &
~
&v" &&
&~
&T&&&&&&&&&'''''''''' '
'''
'''''''''''()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/t*J=PF0*8X>
@,,++**
l 1
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }mB}$ }}$ }
}
$ }
}$ }U}$
1
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
Notes
December 31,
June 30,
June 30,
~
~
~
RMB
RMB
US$RMBUS$
Proforma shareholders?
equity?7LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS? DEFICIT
.&Current Liabilities (including current
/'liabilities of the VIE without recourse/'to the primary beneficiary of RMB23,7033+and RMB24,669 (US$3,593) as of December 31,.&2018 and June 30, 2019, respectively )Shortterm bank loan~
&~
"N
~
"N
~
bAccounts payable~
~
~
&Advances from customers~
N\
~
>
~
6.Accrued expenses and other current liabilities~
*~
v
~
z:
~
S!Deferred government grant~
B
~
B
~
2
!Total current liabilities~
.x
~
~
N
6.Noncurrent liabilities (including noncurrent
/'liabilities of the VIE without recourse1)to the primary beneficiary of nil and nilD/lvj^R&n{Wh6c? !"#$%&'()*+,./06 .(US$ nil) as of December 31, 2018 and June 30,!2019, respectively)"Longterm loan""~
"*""" "?"" "
~
".!""
"~
"""""""""" #Deferred tax liabilities######~
### #
~
###
#~
########## $Unrecognized tax benefit$$$$$$~
$rL$$ $
~
$rL$$
$~
$&$$$$$$$$$%%Deferred government subsidies%%%%%%~
%r%% %
~
%%%
%~
%j%%%%%%%%%&&&&&&&&&& &
&&&
&&&&&&&&&&&%'Total noncurrent liabilities''''''~
'rT'' '
~
't''
'~
''''''''''(((((((((( (
(((
((((((((((()Total liabilities))))))~
))) )
~
)#))
)~
)Z)))))))))********** *
***
***********%+Commitments and Contingencies++~
+J++++++ +
+++
+++++++++++,$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@fWm"
=PF0*8X>
@00//..
l 45z@
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }@}$ }$}$ }}
$ }}$ }
}$ }$}$ }$}$
4
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
Notes
December 31,
June 30,
June 30,
~
~
~
RMB
RMB
US$RMBUS$
Proforma shareholders?
equity2*MEZZANINE EQUITY AND SHAREHOLDERS? DEFICIT
Mezzanine equity:
2*Series Seed 1 convertible preferred shares~
>~
b
~
b
~
? ?.&(US$0.0001 par value; 7,281,000 shares%authorized, issued and outstanding as=5of December 31, 2018 and June 30, 2019, respectively)2*Series Seed 2 convertible preferred shares~
>~
~
~
? ?.&(US$0.0001 par value; 7,281,000 shares%authorized, issued and outstanding as=5of December 31, 2018 and June 30, 2019, respectively)2*Series Seed 3 convertible preferred shares~
>~
~
~
? ?.&(US$0.0001 par value; 1,456,200 shares%authorized, issued and outstanding as=5of December 31, 2018 and June 30, 2019, respectively)1)Series A redeemable convertible preferred~
>~
~
~
^ ? ?.&shares (US$0.0001 par value; 8,119,0321)shares authorized, issued and outstandingD+lvj^R&n{d'd#`\ !"#$%&'()*+,./01232 *as of December 31, 2018 and June 30, 2019,!
respectively)1")Series B redeemable convertible preferred""~
">"""~
""" "
~
"""
"~
"X""" "?""" "?"/#'shares (US$0.0001 par value; 12,152,247,$$shares authorized, 11,172,291 shares1%)issued and outstanding as of December 31,&%2018 and June 30, 2019, respectively)1')Series C redeemable convertible preferred''~
'>'''~
''' '
~
'''
'~
'Z''' '?''' '?'0((shares, (US$0.0001 par value; 22,552,2072)*shares authorized, 2,559,181 and 3,748,5788*0shares issued and outstanding as of December 31,+%2018 and June 30, 2019, respectively),,,,,,,,,, ,
,,,
,,,,,,,,,,,Total mezzanine equity~
$ 
~
'
~
 ? ?.......... .
...
.........../0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,
R*S'q=PF0*8X>
@332211
l 0gu
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }2}$ }I}
$ }I}$ }}$ }
}$ }
}$
0
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
Notes
December 31,
June 30,
June 30,
~
~
~
RMB
RMB
US$RMBUS$
Proforma shareholders?
equity'Shareholders? (deficit)/equity:
/'Ordinary shares (par value of US$0.0001~
~
~
1)per share; 441,158,314 shares authorized;0(56,791,800 shares issued and outstanding2*as of December 31, 2018 and June 30, 2019,
respectively).&Class A ordinary shares (US$0.0001 par
~
~
/'value; 1,904,577,337 shares authorized;0(50,427,238 shares issued and outstanding1)as of June 30, 2019 on a pro forma basis).&Class B ordinary shares (US$0.0001 par
~
r~
,$value; 45,422,663 shares authorized,2*issued and outstanding as of June 30, 2019on a pro forma basis)"Additional paidin capital~
"q
~
~
~~
~
Statutory reserves~
~
~
~
~
Accumulated deficit~
R
~
J
~
~
J~
Dlvj^R&n{ow^l? !"#$%&'()*+,./. &Accumulated other comprehensive income ~
F
~
R
~
. ~
R ~
. !!!!!!!!!! !
!!!
!!!!!!!!!!!2"*Total EHang Holdings Limited shareholders?""""""~
"ֳ"" "
~
"j""
"~
""""~
"z"""~
"*"#(deficit)/equity!$Noncontrolling interests$$$$$$~
$z2$$ $
~
$R$$
$~
$"$$$~
$R$$$~
$"$%%%%%%%%%% %
%%%
%%%%%%%%%%%,&$Total shareholders? (deficit)/equity&&&&&&~
&N&& &
~
&&&
&~
&&&&~
&&&&~
&J&'''''''''' '
'''
'''''''''''/('Total liabilities, mezzanine equity and((((((~
((( (
~
(v" ((
(~
(T((((((((()shareholders? deficit********** *
***
***********+,$____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$
,x'UI==PF0*8X>
@//..
l 9ԝ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }U5}$ }$}$ }}
$ }}$ }
}$
9
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
) !For the six months ended June 30,
Notes
~
~
RMB
RMB
US$ Revenues:
Products
~
.
~
P
~
{
~
:7
Services~
.~
N
~
~
~
~
Total revenues~
VW
~
~
ICosts of revenues~
~
.
~
n
Gross profit~
=
~
(
~
"+
Operating expenses:
$Sales and marketing expenses~
u
~
"<
~
z+#General and administrative expenses~
~
r
~
J)!Research and development expenses~
FJ
~
"Q
~
>
Total operating expenses~
&
~
u
~
{
Other operating income~
Q
~
~
Operating loss~
h
~
~
Dlvj^R:^%
'4h~BZ !"#$%&'()*+,./012345678
Other income:
!Interest income!!!!!!~
!n !! !
~
!!!
!~
!"!"Interest expenses""""""~
":"" "
~
"V""
"~
"R"$#Foreign exchange (loss)/gain######~
### #
~
###
#~
##$Other income$$$$$$~
$$$ $
~
$f$$
$~
$Z$%
Other expense%%%%%%~
%%% %
~
%%%
%~
%%&&&&&&&&&& &
&&&
&&&'Total other income''''''~
''' '
~
'''
'~
''(((( (
4),Loss before income tax and share of net loss))))))~
)l)) )
~
)J))
)~
))*from an equity investee++++++++++ +
+++
+++,Income tax expenses,,~
,6,,,~
,,, ,
~
,,,
,~
,, 

4.,Loss before share of net loss from an equity......~
.c.. .
~
...
.~
.V./investee10)Share of net loss from an equity investee000000~
0f00 0
~
000
0~
001111111111 1
111
1112Net loss222222~
2
b22 2
~
222
2~
2R23333333333 3
333
33345$6____________________________17)Created by Morningstar Document Research.08(http://documentresearch.morningstar.com/6'Fcu,.Sym=PF0*8X>
@R
887766
l 8
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I;}$ }$}$ }
}
$ }
}$ }}$
8
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
) !For the six months ended June 30,
Notes
~
~
RMB
RMB
US$Net loss~
b
~
~
R9
1Net (income)/loss attributable to noncontrolling
~
~
*
~
>
interests
/'Net loss attributable to EHang Holdings~
A
~
~
Limited3+Accretion to redemption value of redeemable ?
~
~
$convertible preferred shares
6.Net loss attributable to ordinary shareholders~
A
~
~
Net loss per share:
Basic and diluted~
F
Gz
5Shares used in net loss per share computation
!(in thousands of shares):Basic and diluted~
F~
bw
~
bw
~
bw
0(Pro forma loss per share attributable to
2*Class A and Class B ordinary shareholders:Basic and diluted~
F
RQؿ
QDlvj^R4!%11Raw !"#$%&'()*+,./01234567
4!,Class A and Class B shares used in pro forma!!!!!!!!! !
!!!
!!!0"(loss per share computation (in thousands#of shares):$Basic and diluted$$~
$F$$$$$$ $
~
$v$$
$~
$v$%%%%%%%%%% %
%%%
%%%"&Other comprehensive income&&&&&&&&& &
&&&
&&&$'Foreign currency translation''''''''' '
'''
'''&(adjustments, net of tax of nil((((((~
(* (( (
~
(((
(~
(
()))))))))) )
)))
)))*%Total other comprehensive income, net******~
** ** *
~
***
*~
*
*+of tax,Comprehensive loss,,,,,,~
,2k,, ,
~
,,,
,~
,Z,0(Comprehensive (income)/loss attributable~
 
~
*
~
>$.to noncontrolling interests////////// /
///
///00(Comprehensive loss attributable to EHang000000~
02J00 0
~
000
0~
001Holdings Limited2222222222 2
222
22234$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/44<B\t=PF0*8X>
@R
776655
l %f%
&
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }$4}$ }}$ }$}
$ }}$ }
}$ }U}$ }I}$ }I}$ }U} "$ }##I}$$$
%%%%%%%%%%% %
%%%
%%%%%%%%%%%%%%%%%%%EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
!"#$ Number of Ordinary
Additional
Accumulated Statutory Accumulated
Total Noncontrolling !
"Total $
ordinary
shares
paidin
other
reserves
deficit
shareholders?
interests
!
"equityshares
capital
comprehensivedeficit
income
RMB
RMB
RMB
RMB
RMB
RMB
RMB
!
"RMB
$%Balance as of January 1, 2018~
K
~
~
~
Zo~
F~
Ɖ~
~
!"~
#$Net loss ? ?
?
? ?~
A~
A~
! !"~
#
b$ Sharebased compensation ? ?
~
J
? ? ?~
J ? !"~
#J$"Other comprehensive income ? ?
?
~
* ? ?~
* ? !"~
#* $
!"#$#Balance as of June 30, 2018~
K
~
~
~
x~
F~
~
~
* !"~
#&8$
!"#$%Balance as of January 1, 2019~
K
~
~
"q
~
F~
~
R~
ֳ~
z2 !"~
#N$Net loss ? ?
?
? ?~
~
~
!"~
#$ Sharebased compensation ? ?
~
? ? ?~
? !"~
#$"Other comprehensive income ? ?
?
~
? ?~
? !"~
#$3+Accretion to redemption value of redeemable ? ?
?
? ?~
~
? !"~
#$$convertible preferred shares
!"#$#Balance as of June 30, 2019~
K
~
~
~
R~
~
J~
j~
R !"~
#$
!"#$)!Balance as of June 30, 2019 (US$)~
K
~
~
~
~
.~
~
~
~
" !"~
#$
!"#$D*lvj^Rj)oKk(=l. %!%"%#%$% !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
P=PF0*8X>
@"$$$##$""$
"#
"#
"#
l LL
d
$j
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }:}$ }
}$ }
}
$ }}$
L
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
) !For the six months ended June 30,
~
~
RMBRMB
US$,$CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
~
b
~
~
R
0(Adjustments to reconcile net loss to net
*"cash used in operating activities:%Depreciation and amortization~
)~
+
~
^ Sharebased compensation~
J~
~
2*Loss on disposal of property and equipment~
?
?1)Share of net loss from an equity investee~
~
*
~
2*Allowance (reversal) for doubtful accounts~
&~
~
4,Changes in operating assets and liabilities:
Accounts receivable~
~
[
~
0(Cost and estimated earnings in excess of~
&}~
2
~
fbillingsInventories~
~
~
,$Prepayments and other current assets~
2~
~
Z Other noncurrent assets ?~
v
~
Accounts payable~
~
&
~
Advances from customer~
~
~
>%Deferred government subsidies~
b~
b
~
.&Accrued expenses and other liabilities~
~
~
Dlvj^Re
"^0q"VNe
!
"
#
$
%
&
'
(
)
*
+
,

.
/
0
1
2
3
4
5
6
7
8
9
:
;
<
=
>
?
2!*Net cash flow used in operating activities!!~
!>8!!!~
!!! !
~
!6!"""""""""" "
"",#$CASH FLOWS FROM INVESTING ACTIVITIES######### #
##($ Acquisition of intangible assets$$~
$$$$ $?$$ $
$?$*%"Purchase of shortterm investments%%~
%j%%%~
%2%% %
~
%%8&0Proceeds from maturity of shortterm investments&&~
&&&&~
&&& &
~
& &*'"Purchase of property and equipment''~
''''~
''' '
~
'
'(( Purchase of longterm investment((~
(R((( (?(( (
(?()Loan to a related party))~
)^)))~
)^)) )
~
)
).*&Repayment of loan from a related party** *?***~
*** *
~
**++++++++++ +
++5,Net cash flow provided by/(used in) investing,,~
,>,,,~
,m,, ,
~
,,
activities.......... .
..,/$CASH FLOWS FROM FINANCING ACTIVITIES///////// /
//,0$Proceeds from a shortterm bank loan00~
0"N000~
0"N00 0
~
0b0+1#Repayment of a shortterm bank loan11 1?111~
111 1
~
11.2&Proceeds from loans from third parties22~
2B222 2?22 2
2?253Proceeds from issuance of Series C redeemable33 3?333~
3233 3
~
3k3$4convertible preferred shares5555555555 5
5516)Net cash provided by financing activities66~
6b666~
6266 6
~
6k67777777777 7
77/8'Effect of exchange rate changes on cash88~
8* 888~
888 8
~
8
89and cash equivalents:::::::::: :
::1;)Net decrease in cash and cash equivalents;;~
;;;;~
;;; ;
~
;;2<*Cash and cash equivalents at the beginning<<~
<><<<~
<><< <
~
<<=of year>>>>>>>>>> >
>>4?,Cash and cash equivalents at the end of year??~
?>???~
??? ?
~
??D]ld<"bFwa?{#X7l@
A
B
C
D
E
F
G
H
I
J
K
@@@@@@@@@@ @
@@AAAA B%Supplemental disclosures of cash flowBBBBBBBBB B
BBCinformation:DInterest receivedDD~
Dn DDD~
DDD D
~
D"DE
Interest paidEE~
EEEE~
EEE E
~
EJEFIncome taxes paidFF~
FvFFF F?FF F
F?FGH$I____________________________1J)Created by Morningstar Document Research.0K(http://documentresearch.morningstar.com/Qd4s[H<0=PF0*8X>
@J KKJJII
l )
)
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I;}$ }}$ }
}
$ }U}$
)
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$
ASSETS
Current assets:
!Cash and cash equivalents~
:~
jV
~
Accounts receivable, net~
%~
A
~
0(Cost and estimated earnings in excess of~
~
~
"billingsInventories~
.~
~
.91Amounts due from the Company and its subsidiaries~
JJ~
Ί
~
:,$Prepayments and other current assets~
Vn~
~
^
Total current assets~
68~
~
jb
Noncurrent assets:
*"Property, plant and equipment, net~
~
z
~
Intangible assets, net~
J~
~
bLongterm investments~
*~
~
NDeferred tax assets~
~
~
R Other noncurrent assets~
B~
~
Dlvj^RLD,fxM
!
"
#
$
%
&
'
(
Total noncurrent assets ~
r ~
~
f !!!!!!!!!! !
!!"Total assets""~
""""~
"("" "
~
"u"########## #
##$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/F`TH =PF0*8X>
@Z((''&&
l C
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }8}$ }
}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$
Current liabilities:
Shortterm bank loan~
"N~
"N
~
bAccounts payable~
z~
w
~
nCustomer advances~
~
&
~
Z0(Accrued expenses and current liabilities~
~
~
7/Amounts due to the Company and its subsidiaries~
9~
x
~
!Total current liabilities~
~
~
*
Total liabilities~
~
~
*
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>I
0vj^RL4J@d=PF0*8X>
@Z
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }1}$ }}$ }
}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
) !For the six months ended June 30,
~
~
RMBRMB
US$Revenues~
2~
}
~
:
Net income/(loss)
~
T
~
:
~
%Net cash used in operating activities~
֜~
&
~
b0(Net cash provided by/(used in) investing~
~
~
b
activities1)Net cash provided by financing activities~
"N ?
?0(Net increase/(decrease) in cash and cash~
~
~
equivalents$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 vj^Re
/h=PF0*8X>
@J
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a}$ }}$ }U}$}
$ }}$ }
}$ }$}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
) !For the six months ended June 30,
~
~
RMB %
RMB
US$ %PRC~
VW~
%
~
{
~
J7~
. %
Europe
?
?
~
H
~
~
:
%
North America ? ?
~
5
~
~
. %
Total net revenues~
VW~
%
~
~
I~
%
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2vj^RVh=PF0*8X>
@Z
l =
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }%}$ }
}$ }}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$
Accounts receivable
~

~
~
'Allowance for doubtful accounts~
~
*
~
~
'~
"
~
.
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2yvj^RL:=PF0*8X>
@Z
l &
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a/}$ } }$ } }
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$/
'Balance at beginning of the year/period
~
~
~
/'Additional provision (charged)/reversed~
~
J
~
~
to expense
%Balance at the end of the year/period~
~
*
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4vj^RLAe=PF0*8X>
@Z
l A
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }a/}$ }}$ }}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$/
'Contracts costs incurred plus estimated
~
~
~
A
earningsLess: Progress billings~
]~
*
~
~
~
~
"
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4vj^RLox=PF0*8X>
@Z
l `
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }}$ }}$ }}
$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$
Raw materials
~
3
~
:z
~
7
Work in progress ?~
~
*Finished goods~
~
~
$
Inventories, total~
8~
}
~
\Inventories provision~
~~
~
Inventories, net~
6=~
F
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:zvj^RL<5K?3=PF0*8X>
@Z
l }
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }}$ }
}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$
VAT prepayments
~
^K
~
RM
~
F
Deferred IPO costs ?~
*[
~
J
Staff advances~
:~
*
~
:Advance to suppliers~
=~
nR
~
Others~
:~
~@
~
f
~
&~
f
~
*4
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8
vj^RL8>=PF0*8X>
@Z
l ǝ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }m)}$ }
}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$
Office equipment
~
~
~
6
*"Machinery and electronic equipment~
^~
~
Transportation equipment~
F"~
$
~
ZLeasehold improvements~
~
z
~
r" Construction in progress~
2D~
~B
~
~
~
Z
~
I&Less: accumulated depreciation~
=~
~
n
~
)~
~
.'
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>
0vj^RLdln=PF0*8X>
@Z
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }<(}$ }
}$ }
}
$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
As of
December 31,
June 30,
~
~
RMBRMB
US$
Loans from third parties
~
fq
~
R
~
$Payroll and welfare payables~
~
~
'Other taxes payable~
>~
^
~
Payables for service fee~
E~
:
~
nWarranty costs~
V~
~
Payables to suppliers~
7~
/
~
~
v~
z:
~
S
)!Longterm loan from a third party ?~
.!
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>'
0vj^RLeb$b=PF0*8X>
@Z
l !
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }%}$ }
}$ }}
$ }
}$
!
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
( For the six months ended June 30
~
~
RMBRMB
US$Revenues?Products
Air mobility solutions
~
*!
~
^o
~
5
'Smart city management solutions~
"~
~
JOthers~
~
~
n
SubtotalProducts~
P~
{
~
:7
Revenues?Services
Aerial media solutions~
~
zy
~
Air mobility solutions~
j~
~
SubtotalServices~
N~
~
~
~
Total Revenues~
VW~
~
I
$____________________________1)Created by Morningstar Document Research.Dlvj^Rf(g#p?8PD8
0 (http://documentresearch.morningstar.com/H=PF0*8X>
@J
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }}$ }y}$ }}
$ } }$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
Number of Weighted average
Weighted average
RSUs
grant date fair
amortization
value
period
(US$)
(Years)!
Unvested, January 1, 2019
~
_
m4@
?
Granted ?
Vested~
Cm4@
Forfeited ?
Unvested, June 30, 2019~
M9m4@
ףp=
?
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6
vj^Rr0o=PF0*8X>
@j
l d
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }U}$ }U}
$ }$}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
) !For the six months ended June 30,
~
~
RMBRMB
US$Cost of revenues~
z~
~
$
Sales and marketing expenses
~
~
>
~
Z
+#General and administrative expenses~
fZ~
X
~
)!Research and development expenses~
B~
b4
~
~
J~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 vj^Re
WVz=PF0*8X>
@J
l 5
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }y#}$ }
}$ }}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data) Mezzanine equity Series C
preferredsharesRMBUS$%
Balance as of January 1, 2019
~
~
.)
Issuance~
~
Fj%Accretion to redemption value~
j/~
#Balance as of June 30, 2019~
~
Z$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4vj^RqG`[d=PF0*8X>
@B
l >V
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }
}$ }$}
$ }$}$ }
}$ }
}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
9 1Fair Value Measurements as of June 30, 2019 using
Quoted Price in
Significant
Unobservable
Total fair value
Active Market for
Other
InputsIdentical Assets
Observable
(Level 3)
(Level 1)
Inputs (Level 2)RMBRMB
RMB
RMBUS$Fair value measurement
Shortterm investments~
҄ ?
?
~
҄~
Z
+#Total assets measured at fair value~
҄ ?
?
~
҄~
Z
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8s
vj^RV#Xw]a:>2&=PF0*8X>
@
l w
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }7}$ }
}$ }
}
$ }}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
) !For the six months ended June 30,
~
~
RMBRMB
US$
Numerator:
/
'Net loss attributable to EHang Holdings
~
A
~
~
Limited3+Accretion to redemption value of Redeemable ?~
~
$Convertible Preferred Shares
6.Net loss attributable to ordinary shareholders~
A~
~
%Denominator (in thousands of shares):
2*Weightedaverage number of ordinary shares~
bw~
bw
~
bw%outstanding?basic and diluted
( Loss per share?basic and dilutedGz
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlvj^Re
>zQ("
=PF0*8X>
@J
l (ȟ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (59)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }:}$ }
}$ }}
$ }
}$ }}$
(
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data)
. &For the six months ended June 30, 2019
Class A
Class B
RMBUS$
RMB
US$
Numerator:
6
.Net loss attributable to ordinary shareholders
~
~
~
~
80Add: Accretion to redemption value of redeemable~
j/~
?
?$convertible preferred shares
1)Numerator for pro forma basic and diluted~
~
~
~
loss per share
%Denominator (in thousands of shares):
.&Weighted average number of shares used~
&~
&
~
>
~
>80in calculating net loss per ordinary share?basicand diluted1)Add: adjustment to reflect assumed effect~
H~
H
~
~
3+of automatic conversion of Preferred Sharesto ordinary shares
5Weighted average number of shares outstanding~
~
~
~
1)used for pro forma basic and diluted loss per shareDlvj^R0&PNL$X[Au9HN !"#$%&'
2!*Pro forma loss per share?basic and diluted!!!RQؿ!!!!Q!! !
!RQؿ!!
!!Q!"""""""""" "
"""
"""#$$%____________________________1&)Created by Morningstar Document Research.0'(http://documentresearch.morningstar.com/4&ZNB=PF0*8X>
@R
''&&%%
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!INFORMATION NOT REQUIRED IN PRO
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }*}$ }
}$ }U}$
EHang Holdings LtdF1
10/31/20197/except for number of shares and per share data) RMB US$ +
#Six months ending December 31, 2019
~
B
~
~
~
F~
J
~
~
~
F~
~
~
R
2023 and thereafter~
~
v
Total~
V~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2vj^R ?=PF0*8X>
@*
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)
Exhibit IndexExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }1}$ }a}$ }y}
$ }}$
EHang Holdings LtdF1
10/31/2019.&INFORMATION NOT REQUIRED IN PROSPECTUS
Securities/Purchaser Date of Issuance Number of
Consideration
Securities!Series C Preferred Shares
Lung Biotechnology PBCDecember 27, 2016~
g
US$10,000,000.53
Dragon Chariot Limited
June 5, 2017
~
US$3,046,784.44
Dragon Chariot LimitedSeptember 20, 2017~
>
US$2,014,849.98'United Therapeutics CorporationFebruary 11, 2019~
VH
US$7,000,000 Ordinary Shares
Ballman Inc.
July 25, 2019~
2k
N/A$JM Elegance Holdings Limited
July 25, 2019~
XO
N/ARichztx Limited
July 25, 2019~
~f'
N/ABob Skyline LimitedAugust 22, 2019~
"
N/A Restricted Share Units
1)Certain directors, officers and employeesAugust 1, 2015 ?~
?
Past and futureJuly 1, 2019
services to us$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BXsg[
%VwHJ>2
=PF0*8X>
@:
l i w
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE!Investing in the ADSs involves
PROSPECTUSPROSPECTUS (1)!SUMMARY CONSOLIDATED FINANCIAL SUMMARY CONSOLIDATED FINAN (1) SUMMARY CONSOLIDATED FINAN (2) SUMMARY CONSOLIDATED FINAN (3)NonGAAP Financial MeasureCAPITALIZATIONCAPITALIZATION (1)
DILUTIONDILUTION (1)!SELECTED CONSOLIDATED FINANCIAL!SELECTED CONSOLIDATED FINAN (1)!SELECTED CONSOLIDATED FINAN (2)!SELECTED CONSOLIDATED FINAN (3)NonGAAP Financial Measure (1)
RevenuesOperating expensesResults of OperationsResults of Operations (1)Results of Operations (2) Cash flows and working capitalContractual obligationsSharebased compensation
OverviewPassengergrade AAVsNonpassengergrade AAVs Employees
Facilities!Directors and Executive Officer2015 Share Incentive PlanPRINCIPAL SHAREHOLDERSFees and ExpensesUNDERWRITINGUNDERWRITING (1)!EXPENSES RELATED TO THIS OFFERI!INDEX TO CONSOLIDATED FINANCIAL!except for number of shares and!except for number of shares (1)!except for number of shares (2)!except for number of shares (3)!except for number of shares (4)!except for number of shares (5)!except for number of shares (6)!except for number of shares (7)!except for number of shares (8)!except for number of shares (9)Commitment Letter Continued!except for number of share (10)!except for number of share (11)!except for number of share (12)!except for number of share (13)!except for number of share (14)!except for number of share (15)!except for number of share (16)!except for number of share (17)!except for number of share (18)!except for number of share (19)!except for number of share (20)!except for number of share (21)!except for number of share (22)!except for number of share (23)!except for number of share (24)PRC PRC (1)!except for number of share (25)!except for number of share (26)Unrecognized Tax Benefit!except for number of share (27)!except for number of share (28)!except for number of share (29)!except for number of share (30)!except for number of share (31)!except for number of share (32)Condensed balance sheets!Condensed statements of compreh!Condensed statements of cash fl!except for number of share (33)!except for number of share (34)!except for number of share (35)!except for number of share (36)!except for number of share (37)!except for number of share (38)!except for number of share (39)!except for number of share (40)!except for number of share (41)!except for number of share (42)!except for number of share (43)!except for number of share (44)!except for number of share (45)!except for number of share (46)!except for number of share (47)!except for number of share (48)!except for number of share (49)!except for number of share (50)!except for number of share (51)!except for number of share (52)!except for number of share (53)!except for number of share (54)!except for number of share (55)!except for number of share (56)!except for number of share (57)!except for number of share (58)!except for number of share (59)!INFORMATION NOT REQUIRED IN PROExhibit Index (1)
PRELIMINARYPRELIMINARY (1)PRELIMINARY (2)PRELIMINARY (3)PRELIMINARY (4)PRELIMINARY (5)INTERPRETATIONINTERPRETATION (1)!REMAINDER OF THIS PAGE LEFT INT
FoundersSeries Seed ShareholdersSeries A ShareholdersSeries B ShareholdersSeries C Shareholders!Shareholders Agreement as the I!19 Notices Any notice required !IN WITNESS WHEREOF the Agreemen!EXCLUSIVE TECHNICAL CONSULTING EXCLUSIVE OPTION AGREEMENTARTICLE 1 Ordered Products Annex A EHANG AAV Product List ARTICLE 1 Ordered Products (1) Annex A EHANG AAV Product (1) Subsidiaries of the Registrant
NO TITLEU }I }$ }y<
i
EHang Holdings LtdF1
10/31/2019
Exhibit Index Exhibit Description of Document
Number 1.1*&Form of Underwriting Agreement
@.&Fourth Amended and Restated Memorandum6.and Articles of Association of the Registrant,as currently in effect @5Form of Fifth Amended and Restated Memorandum5and Articles of Association of the Registrant6.(effective immediately prior to the completionof this offering) 4.1*1)Registrant?s Specimen American Depositary)!Receipt (included in Exhibit 4.3)@%Registrant?s Specimen Certificate forOrdinary Shares 4.3*80Form of Deposit Agreement, among the Registrant,1)the depositary and the owners and holders7/of American Depositary Shares issued thereunderD{ltP49aIJ !"#$%&'()*+,./0123456789:;<=>? !@!0!(Second Amended and Restated Shareholders""2"*Agreement between the Registrant and other##/#'parties thereto dated December 27, 2016$$%ffffff@%0%(Opinion of Maples and Calder (Hong Kong)&&2&*LLP regarding the validity of the ordinary''2'*shares being registered and certain Cayman(((Islands tax matters))*333333 @*0*(Opinion of Maples and Calder (Hong Kong)++0+(LLP regarding certain Cayman Islands tax,,),!matters (included in Exhibit 5.1).ffffff @.2.