億航智能: Q2收入超指引，調後淨利潤轉正，訂單持續增長

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EHang Holdings (EH US) Q2收入超指引，調後淨利潤轉正，訂單持續增長 24Q2E results takeaways: revenue surpassed guidance; adjusted net profit turnaround; orders in full flow BUY (maintain) 投資要點/Investment Thesis 投資要点/Investment Thesis 24Q2業績概覽：收入超此前指引，調後淨利潤轉正。 24Q2收入1.0億元，同比增長920%，高於公司此前指引的9000萬元；毛利率62.4%，同比增加2.2pcts；調整後淨利潤120萬元，同比轉正。經營現金流連續三季度爲正。EH216-S產品交付數量爲49架，同比/環比均實現大幅增長。 Q2E revenue surpassed company guidance; adjusted net earnings swung to profit Key metrics: EHang’s unaudited 24Q2E results had revenue at RMB100m, up 920% yoy, higher than its RMB90m guidance. Gross margin came to 62.4%, up 2.2ppt yoy, bringing adjusted net profit to RMB1.2m, a turnaround from the yoy loss. Operating cash flow remained positive for the third straight quarter as th ………………………………