{"url_path":"/sec/eh/10-k/2026/item-7","section_key":"item-7","section_title":"Item 7 Major Shareholders and Related Party Transaction","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1759783/0001193125-26-226608-index.html","accession_number":"0001193125-26-226608","cik":"0001759783","ticker":"EH","issuer_name":"EHang Holdings Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1759783/0001193125-26-226608-index.html","primary_entity_key":"0001759783","primary_entity_name":"EHang Holdings Ltd"},"word_count":781,"has_tables":true,"body_markdown":"Item 7.\n\nMajor Shareholders and Related Party Transaction\n\nA. Major Shareholders\n\nPlease refer to “Item 6. Directors, Senior Management and Employees—E. Share Ownership.”\n\nB. Related Party Transactions\n\nContractual Arrangements with the VIE and its Shareholders\n\nPlease refer to “Item 4. Information on the Company—C. Organizational Structure” for a detail description of the contractual arrangements among the WFOE, the VIE and the VIE’s shareholders.\n\n \n\n129\n\n##### Table of Contents\n\nIn October 2020, the VIE paid a guarantee deposit of RMB2.6 million (US$0.4 million) to a court in Guangzhou, China to lift a judicial freeze on certain equity interests of the VIE, which were then nominally held under the name of our founder and director, Mr. Huazhi Hu. The judicial freeze was placed in connection with an arbitration in which Mr. Hu was named as a party. As of December 31, 2021, the judicial freeze had been lifted and the VIE has collected the deposit.\n\nTransactions with Related Parties\n\nIn 2025, we generated total revenue of (i) RMB13,316 thousand (US$1,904 thousand) from sale of products to Hefei Heyi Aviation Co., Ltd. (“Hefei Heyi”), Zhejiang Zhiyi Navigation Co., Ltd. (“Zhejiang Zhiyi”), Guangzhou Yitong Zhihang Technology Co., Ltd. (“Yitong Zhihang”), Hangzhou Zhongan Aviation Co., Ltd. (“Hangzhou Zhongan”) and other equity investees, and (ii) RMB394 thousand (US$56 thousand) from provision of services to Wanyi Tianxia (Zhuhai) Aviation Co., Ltd. (“Wanyi Tianxia”), Guangxi Fengshan Fengyi Aviation Service Co., Ltd. (“Fengshan Fengyi”), Hefei Heyi, Wuxi Liangyun Low-Altitude Commercial Operation Management Co., Ltd. (“Wuxi Liangyun”), Shenzhen Pengcheng Wing General Aviation Co., Ltd. (“Pengcheng Wing”) and Yitong Zhihang. Each of these entities is an equity investee of our company and we have significant influence over them. RedChip Strategy Limited (“RedChip”) is a company wholly owned by a director and classified as a related party of the Group on November 24, 2025 upon its shareholder’s appointment to the Group’s director. The Group maintained a consulting agreement with consulting firm RedChip. The consulting fees incurred during the period from November 24, 2025 to December 31, 2025 amounted to RMB1,127 thousand (US$161 thousand), which were settled via a combination of cash and RSUs. As of December 31, 2025, we had accounts receivable of RMB5,188 thousand (US$741 thousand) due from, and contract liabilities of RMB2,307 thousand (US$330 thousand) due to, these equity investees in connection with product sales and services. In addition, as of December 31, 2025, the Group had a six-month loan and interest receivable of RMB2,070 thousand (US$296 thousand) due from Hefei Heyi, with an interest rate of 3% per annum, which was settled in March 2026. In April 2025, the Group invested RMB14,500 thousand (US$2,073 thousand) in Yihang Zhifang Equipment (Guangzhou) Co., Ltd. (“Zhifang”), a company under the control of our founder and Chairman of the Board, Mr. Huazhi Hu, to acquire 4.63% equity interests.\n\nIn 2024, we generated total revenue of (i) RMB0.1 million from sale of products to Hefei Heyi Aviation Co., Ltd. (“Hefei Heyi”), Wanyi Tianxia (Zhuhai) Aviation Co., Ltd. (“Wanyi Tianxia”) and Guangxi Fengshan Fengyi Aviation Service Co., Ltd. (“Fengshan Fengyi”), and (ii) RMB1.2 million from provision of services to Guangzhou Yitong Zhihang Technology Co., Ltd. (“Yitong Zhihang”), Hefei Heyi, Wanyi Tianxia and Wuxi Liangyun Low-Altitude Commercial Operation Management Co., Ltd. (“Wuxi Liangyun”). Each of Hefei Heyi, Wanyi Tianxia, Fengshan Fengyi, Yitong Zhihang and Wuxi Liangyun is an equity investee of our company and we have significant influence over them. As of December 31, 2024, we had account receivables of RMB0.5 million due from, and contract liabilities of RMB2.0 million due to, these equity investees in connection with product sales and services.\n\nIn 2023, we generated revenue of RMB3.0 million and RMB8.9 million from Yitong Zhihang and Xinjiang Xiyu Qingniao General Aviation Co., Ltd. (“Xiyu Qingniao”), respectively, through our sales of pilotless eVTOL aircraft. Each of Yitong Zhihang and Xiyu Qingniao is an equity investee of our company and we have significant influence over them. As of December 31, 2023, we had amount due from Yitong Zhihang of RMB1.7 million and contract liabilities to Xiyu Qingniao of RMB2.0 million relating to such sales.\n\nAs of December 31, 2025, RMB29,941 thousand (US$4,282 thousand) short-term bank loans and RMB7,000 thousand (US$1,001 thousand) long-term bank loans were guaranteed by Mr. Huazhi Hu, our founder, chairman and chief executive officer.\n\nEmployment Agreements and Indemnification Agreements\n\nPlease refer to “Item 6. Directors, Senior Management and Employees—B. Compensation—Employment Agreements and Indemnification Agreements.”\n\n \n\n130\n\n##### Table of Contents\n\nShare Incentive Plans\n\nPlease refer to “Item 6. Directors, Senior Management and Employees—B. Compensation—2015 Share Incentive Plan,” “Item 6. Directors, Senior Management and Employees—B. Compensation—2019 Share Incentive Plan” and “Item 6. Directors, Senior Management and Employees—B. Compensation—2023 Share Incentive Plan.”\n\nC. Interests of Experts and Counsel\n\nNot applicable."}