Regulatory and Certification Milestones
Obtained TC, PC and AC certifications and two operators hold OCs; company remains the only global eVTOL firm with TC, PC, AC and commercial operation license foundations, benefiting from newly revised Civil Aviation Law and a strengthened regulatory framework (NDRC/CAAC two-tier governance).
Strong Safety and Operational Track Record
EH216-S accumulated over 90,000 safe flight hours globally across 21 countries; two OC-certified operators (Hefei and Guangzhou) have maintained 0 accidents and 0 violations since March 2025 and completed over 3,000 EH216-S flights, supporting commercial credibility.
Revenue Diversification — Aerial Media Growth
Aerial Media (formation drones and related services) contributed ~40% of Q1 revenue; GD 4.0 formation-drone performances and services reported ~50% gross margin for that segment, helping keep consolidated gross margin elevated.
High Gross Margin Profile
Reported gross margin of 62.5% in Q1 2026, essentially flat YoY (62.4%) and up from 61.6% in Q4 2025 (+0.9 percentage points), reflecting manufacturing efficiency and supply chain improvements.
Operational & Product Enhancements
Introduced a battery cooling vehicle that doubled EH216-S utilization in field tests by reducing battery cooldown time; upgraded independent cabin air conditioning to improve passenger comfort in hot climates; Guangzhou Command & Control Center now fully operational to support multiple mission types.
Commercialization & Global Progress
Active progress in Thailand AAM sandbox (battery cooling tests, route/vertiport planning), first human-carrying flight in Mexico, trial permits in Thailand, Japan, South Korea, Middle East and Spain; targeting overseas VTCs leveraging bilateral agreements and aiming for Thailand commercial breakthrough by year-end.
VT35 and Product Pipeline Advancement
VT35 certification is progressing (certification-basis definition, system and flight tests, detailed avionics design) and non-human-carrying variants (firefighting, logistics) are under development to expand addressable market.
Solid Liquidity & Share Repurchase Program
Combined cash, equivalents and short-term investments totaled RMB 1.03 billion as of March 31, 2026; Board approved share repurchase program of up to USD 30 million, signaling confidence in long-term value.
Brand and Public Visibility Boost
Featured 16 EH216-S aircraft and 22,580 GD 4.0 formation drones at a high-profile Spring Festival Gala, setting a Guinness World Record and increasing public awareness and industry visibility.