China’s Drone Maker EHang Goes Public in the US in a Bid to Fund $100 Million

China’s drone maker EHang submitted its F-1 prospectus to SEC in October 31st EST. It is expect6ed to trade on NASDAQ with the transaction code EH. According to the prospectus, EH is a smart drones technology company which provides solutions to clients in the area of passenger transport, logistics, smart city management, and aerial media through the design, development, manufacturing, sales, and operation of AAV.

When it comes to financial performance, EHang’s revenue reached ￥31.70 million and ￥66.49 million in 2017 and 2018 respectively, a year-on-year increase of 109.8%. Its net loss stood at ￥86.58 million and ￥80.46 million respectively, a year-on-year decrease of 7.1%.

The investment raised in this funding raising event will be used on five areas including further development of products, service, and technology, sales and marketing including the development of global sales channel, continued expansion of capacity, development of solution for urban aerial traffic, and potential strategic investment and merger.