EHang Holdings Limited

Good day ladies and gentlemen, thank you for standing by and welcome to Yihang's first quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session, and instructions will follow at that time. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. Now I will turn the call over to Julia Qian. Managing Director of the Blue Shirt Group Asia. Ms. Qian, please proceed.

Hello, everyone. Thank you all for joining us on today's conference call to discuss the company's financial results for the first quarter of 2020. We released the results early today. The press release is available on the company's website as well as from Newswire Services. On the call with me today are Mr. Hu Huazi, Chief Executive Officer, Mr. Edward Xu, Chief Strategy Officer, and Mr. Richard Liu, Chief Financial Officer. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provision of the U.S. Private Security Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. Further information regarding these and other risks and uncertainties is included in the company power refining with the SEC. Company does not assume any obligation to update any forward-looking statement, except as required under biblical law. Also, please note that unless otherwise stated, all the figures mentioned during the conference call are in Chinese RMB. With that, let me now turn to the call to the management team and our CEO, Mr. Hu Huazhi. Mr. Hu will speak in Chinese, then our CSO Edward Xu will translate his comments to English. Please go ahead, Mr. Hu. Thank you, Julia.

Hello, everyone. Thank you for attending our phone call meeting today. Even though from the beginning of this year, the world has experienced the unprecedented COVID-19 epidemic, but we can still tell you that the financial performance of the first quarter is still growing. The total income is RMB18.8 million, which is 80.3% of the total growth, and the net profit is 82.7% of the total growth. The sales of a line of 216 are 9. increased by 200% compared to the same period in 2019. In the first quarter, China implemented strict epidemic prevention measures, including blockade of epidemic areas, corporate shutdowns, and isolation of people. Therefore, we have indeed been affected by some short-term effects, including the interruption of supply chain and the temporary reduction of customer demand, and the delay of orders. However, we have started a new business in this crisis, We successfully applied the I-216 and Falcon-B autonomous pilots to medical emergency rescue and transportation. We conducted flight demonstrations in Guangxi, Hezhou, China, to fully prove that the I-216 will be able to apply advanced technology to emergency scenarios. We will continue to actively develop air traffic scenarios in more cities. For example, emergency response and air travel We will expand the network of air traffic test cities And in the United States and Europe Achieve the breakthrough of supervision For global expansion after the epidemic Spread the road Since the beginning of April Our business in China Has gradually returned to normal The situation is getting better and better Sales and business are back to normal Our self-driving aircraft Can provide cost-effective and safe service Therefore I believe that in 2020, we can achieve more than 200% of income growth Thank you Mr. Hu and hello everyone. Let me first do the translation of what Mr. Hu said in his opening remarks and then I will talk about our key business strategies going forward. Hello everyone. Thank you for joining us on the call today.