On May 20th, Yihang Intelligence released its first quarter results, showing that the company's total revenue in the first quarter was 61.7 million yuan (approximately 8.5 million US dollars), a year-on-year increase of 178.0% and a month on month increase of 9.1%; The adjusted net loss under non US GAAP was 10.1 million yuan (approximately 1.4 million US dollars), a year-on-year decrease of 69.9% and a month on month decrease of 54.4%.
During the reporting period, the sales and delivery quantity of Yihang Intelligent EH216 series autonomous aircraft was 26, doubling from 11 in the first quarter of 2023 and 23 in the fourth quarter of 2023. In addition, the company expects a total revenue of approximately 90 million yuan in the second quarter, an increase of approximately 804% year-on-year.
Hu Huazhi, founder, chairman, and CEO of Yihang Intelligence, said, "With the completion of EH216-S airworthiness certification, the company's commercial operation is also accelerating. We are actively working closely with partners to create a model city and demonstrate the huge potential of low altitude economy. We have also established strategic cooperation with Juwan Technology Research to jointly develop advanced ultra fast rechargeable batteries for eVTOL aircraft, laying the foundation for promoting large-scale and efficient operation."
In addition, Yihang Intelligence has made positive progress in expanding its international market, reaching strategic partnerships and conducting flight demonstrations in regions such as the United Arab Emirates, Spain, Costa Rica, and Japan. At the same time, the company is actively promoting the model license certification of EH216-S overseas, thereby promoting the delivery of international orders and laying the foundation for further expanding the international market.