EH EHang Holdings Ltd

EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, today announced that it has signed a cooperation framework agreement (“Agreement”) with Zhejiang Sunriver Culture and Tourism Co., Ltd. (“Sunriver”, 600576.SH), a China A-share listed company, to explore an industrial model that integrates low-altitude economy with cultural tourism in China. Under the Agreement, Sunriver plans to purchase 50 units of EH216-S or similar pilotless passenger-carrying aircraft from EHang for its cultural tourism projects based on market development needs. Sunriver has placed a purchase order for 5 units of EH216-S as the first batch for aerial tourism use cases. The remaining aircraft will be gradually deployed in the tourism attractions under the Sunriver.

Sunriver, with its parent company Sunriver Holding Group, have invested and operated over 40 renowned tourist attractions in China, including Bailong Elevator and Huanglong Cave in Zhangjiajie City, Hunan Province, Phoenix Ancient Town and Mang Mountain in Hunan Province, Bifeng Canyon in Ya'an City, Sichuan Province, Qiyun Mountain in Anhui Province, and Danxia Mountain in Guangdong Province. Sunriver has established a distinctive cultural tourism industry model integrated cultural IPs, tourism and technologies, and provides consumers with rich and diversified cultural and tourism products and high-quality, comforting and convenient travel experience through its platform “Sunriver Travel”. Given the promising outlook for the integration of low-altitude economy and tourism, Sunriver has recently established a subsidiary, Sunriver General Aviation Development (Shanghai) Co., Ltd. (“Sunriver General Aviation”), with a goal of leveraging EHang’s pilotless electric vertical take-off and landing (“eVTOL”) aircraft to conduct aerial sightseeing services at various tourism destinations under their management. This initiative is expected to create smart low-altitude tourism models for over 40 destinations and further strengthen market competitiveness and the influence of Sunriver’s product.

EHang will leverage its first-mover advantages in R&D, production, manufacturing, and operations in the pilotless passenger-carrying aerial vehicle sector to provide full-spectrum assistance to Sunriver in the commercialization of low-altitude tourism, including technical support and operational guidance. This partnership aims to help Sunriver create an innovative model for smart tourism at scenic locations as well as establish a strategic presence for EHang's EH216-S and other eVTOLs in high-quality and popular scenic areas nationwide by providing tourists with smarter, more comfortable, and convenient low-altitude sightseeing experiences, driving the growth of low-altitude tourism market.

Heng Wang, Chairman of Sunriver, stated, “Our mission at Sunriver has always been to enrich life through the synergy of culture, tourism, and technology. We are constantly exploring how these fields can evolve together. The application of the EH216-S in the cultural tourism sector not only offers visitors unique perspectives and experiences but also further advances the intelligent transformation of the cultural tourism industry, bringing cost-effectiveness and operational efficiency to low-altitude tourism sightseeing. We are confident in the growth potential of the low-altitude economy within the cultural tourism sector and look forward to a mutually beneficial partnership with EHang. Together, we look ahead to leveraging our respective strengths to accelerate the nationwide strategic deployment of an integrated low-altitude cultural tourism model and to achieve profitability in low-altitude sightseeing business across scenic areas.”

At the signing ceremony, Mr. Conor Yang, Chief Financial Officer of EHang, stated, “Our partnership with Sunriver marks a significant step forward in EHang's strategic expansion in smart low-altitude tourism. We're excited to work together and look forward to being at the forefront of advancing commercial operations at scale of low-altitude tourism in China’s many premier scenic spots. Our aim is to provide tourists with safer, autonomous and eco-friendly low-altitude cultural tourism experiences, driving innovation and sustainable growth within the low-altitude tourism industry. Together, we will set up benchmark projects for the smart low-altitude tourism and create brand value for Chinese pilotless eVTOL in cultural tourism industry.”

(Photo: EH216-S conducting an aerial sightseeing flight)

About EHang

EHang (Nasdaq: EH) is the world’s leading urban air mobility (“UAM”) technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle (“UAV”) systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang’s flagship product EH216-S has obtained the world’s first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.

About Sunriver

Sunriver (600576.SH) is a listed company on the main board of Shanghai Stock Exchange, specializing in investments and operations in destinations, with a strong focus on integrating tourism and technology innovation. Guided by the mission, “Enhancing Life through Tourism and Technology,” Sunriver has built a unique business model combining cultural IPs, tourism and technologies, establishing a dynamic business portfolio that includes destination resorts, animation and film, cultural and creative products, and digital technology. Sunriver strives to become a global leader in the cultural tourism industry, supporting more people in their pursuit of a richer, more fulfilling life. For more information, please visit www.600576.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about management’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause EHang’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

Media Contact: pr@ehang.com

Investor Contact: ir@ehang.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96278f8a-dd32-4d22-8095-3a278a13ee63