EHang Announces US$30 Million Share Repurchase Program
22 Novembre 2024 - 10:40AM
EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the
world’s leading Urban Air Mobility (“UAM”) technology platform
company, today announced that the Company’s Board of Directors has
approved a Share Repurchase Program, pursuant to which the Company
may repurchase up to US$30 million of its American
Depositary Shares (“ADSs”) or ordinary shares over the next 12
months.
Mr. Huazhi Hu, Founder, Chairman and CEO of
EHang, commented, “This Share Repurchase Program underscores our
confidence in EHang’s long-term growth potential as well as our
capability in continuously delivering value to our shareholders.
Looking ahead, we remain focused on advancing our leadership in
providing safe, pilotless, and sustainable eVTOL solutions in the
Urban Air Mobility sector, while maintaining a disciplined approach
to capital allocation to ensure sustainable growth and
profitability.”
The Company's proposed repurchases may be made
from time to time through open market transactions at prevailing
market prices, in privately negotiated transactions, in block
trades and/or through other legally permissible means, depending on
the market conditions and in accordance with applicable federal
securities laws, including Rule 10b5-1 and Rule 10b-18 of the
Securities Exchange Act of 1934, as amended. The timing and amount
of any share repurchases under the Share Repurchase Program will be
determined by the Company’s management at its discretion based on
ongoing assessments of price, trading volume and general market
conditions, along with the Company’s working capital requirements,
general business conditions and other factors. The Company expects
to fund repurchases made under this program from its existing cash
balance and cash generated from operations.
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.
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.
Investor Contact:
ir@ehang.com
Media Contact: pr@ehang.com
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