EHang Holdings Limited

Good day, ladies and gentlemen. Thank you for standing by and welcome to the Ehang Third Quarter 2021 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 Chan, Managing Director of the Blue Shirt Group Asia. Ms. Chan, please proceed.

Hello, everyone. Thank you all for joining us on today's conference call to discuss company's financial result for the third quarter of 2021. We released the result 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 Hsu, 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 on 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's public filing with SEC. The company does not assume any obligation to update any forward-looking statement except as required under Capable Law. Also, please note that unless otherwise stated, all the figures mentioned during this call are in RMB. With that, let me now turn the call over to our CEO, Mr. Hu Huazi. Mr. Hu is speaking in Chinese. Our CSO Edward Shi will translate his remarks to English. Please go ahead, Mr. Hu. 大家好,我是胡华志,一航的创始人,董事长兼CEO。 今天很高兴和大家分享一航智能2021年三季度的经营情况。 大家都知道,我们正在向中国民航局申请无人驾驶航空器的试航证。

Considering the acquisition of the pilot certificate is a key part of ensuring the sales and operation of our aircraft. Recently, the company's focus is still on promoting product market. At this stage, our core goal is not to promote a large number of sales. Specifically, the Civil Aviation Bureau has basically completed the specification of unmanned aerial aircraft system market validation standards. At the same time, we will continue to carry out the audit work of the Bank 216 model. According to our designated audit plan, the audit project is completed, and we have reached a consensus with the authorities to continue to carry out trial operation in a way that combines audit and operation. At the same time, we will continue to promote the large number of layout and high-quality flight operation points and routes of our designed 100-line operation plan. At this stage of operation preparation, we think it is more important that we can polish our products more carefully, carry out more pressure tests on all system software, and review all kinds of simulation errors, and increase the test strength of multi-fly control integration control, so that each flight is smooth and reliable. For the future of flight and large-scale operations, Early exploration of how to make air traffic a common way of travel for every ordinary person. While we are more strictly polishing the product, we are also increasing the construction force of the entire operating system. Strictly design in terms of product management, operating services, and other systems, including a digital operating platform and software and other many aspects. For example, multi-engine co-pilot flight, create a line of clouds, improve network security, improve the online booking of air taxi apps, etc. I believe that in the near future, we will let everyone see and use the online booking platform app for each of us. In terms of long-range products, our VT30 already has flight capability, including all the flight control systems, battery systems, This is the main reason why we can continue to maintain strong core competitiveness in the future. For VT30, our work is based on the 216 stable system, so that VT30 also has a perfect and commercialized system design and deployment. In recent months, we have been continuously doing trial and error work to greatly improve the stability and security of each of the key components of VT30. While preparing to test and launch VT30's public flight, we want it to become a mature and qualified product. What we are doing now is an innovative experiment. There is no precedent to follow. We need everyone's patience. I see that many investors and friends have been supporting us silently. Thank you, Mr. Hu. Hello, everyone. I'm Edward Xu, Chief Strategy Officer of eHang.