Category: 3. Business

Following a comprehensive strategic review of Castrol, bp has reached an agreement to sell a 65% shareholding in Castrol to Stonepeak, at an enterprise value of $10.1 billion. This represents an implied EV / LTM EBITDA of around 8.6x reflecting the strength of the business and future growth potential. The transaction represents a significant milestone in bp’s commitment to accelerate its strategy, including simplifying the portfolio, strengthening the balance sheet, and focusing the downstream on its leading integrated businesses.

The transaction is expected to result in total net proceeds to bp of approximately $6.0 billion, which includes around $0.8 billion for the pre-payment of future dividend income over the short to medium term on bp’s retained 35% stake and other adjustments. The implied total equity value of Castrol is $8.0 billion after deducting JV minority interests totaling $1.8 billion, and other debt-like obligations of around $0.3 billion, and subject to customary adjustments. A significant proportion of Castrol JV minority interests relate to the shareholding in the publicly listed Castrol India Limited. 

Upon completion of the transaction a new joint venture will be incorporated comprising a 65% Stonepeak and 35% bp ownership. bp’s retained stake provides exposure to Castrol’s growth plan over the coming years, which builds on a strong track record of nine quarters of consecutive year on year earnings growth. Following a two-year lock-up period, bp has optionality to sell its 35% stake in Castrol. 

The transaction is expected to complete by end of 2026, subject to regulatory approvals. 

Carol Howle, interim CEO at bp, said: “Today’s announcement is a very good outcome for all stakeholders. We concluded a thorough strategic review of Castrol, that generated extensive interest and resulted in the sale of a majority interest to Stonepeak. The transaction allows us to realise value for our shareholders, generating significant proceeds while continuing to benefit from Castrol’s strong growth momentum. And with this, we have now completed or announced over half of our targeted $20bn divestment programme, with proceeds to significantly strengthen bp’s balance sheet. The sale marks an important milestone in the ongoing delivery of our reset strategy. We are reducing complexity, focusing the downstream on our leading integrated businesses, and accelerating delivery of our plan. And we are doing so with increasing intensity – with a continued focus on growing cash flow and returns, and delivering value for our shareholders.”

Anthony Borreca, Senior Managing Director and Co-Head of Energy at Stonepeak, said: “Lubricants are a mission-critical product, which are essential to the safe and efficient functioning of virtually every vehicle, machine, and industrial process in the world. Castrol’s 126-year heritage has created a leading market position, an iconic brand, and a portfolio of differentiated products that deliver meaningful value to its customers. We are excited to work alongside Castrol’s talented employees, coupled with bp’s continued guidance as a minority interest holder, as we support the business’s continued growth.”

The sale is part of bp’s previously announced $20 billion divestment programme and brings completed and announced divestment proceeds to date to around $11.0 billion. All proceeds from this transaction will be allocated to reducing net debt towards bp’s target of $14-18 billion by end 2027. As of the end of 3Q 2025 bp’s net debt was $26.1 billion. Divestment proceeds guidance for 2025 is over $4 billion, of which $1.7 billion has been received as at 3Q25 results, with the remainder expected to be received by year-end 2025.

bp remains committed to driving the highest value for its shareholders, and will continue to:

• seek opportunities to high-grade its portfolio and reduce complexity;
• strengthen its balance sheet and optimise its cost base; and
• invest with discipline with a focus on maximising cash flow and returns.

In doing so, bp is accelerating its strategy to become a simpler, leaner, and more profitable company.

A Powerball player in Arkansas won a $1.817 billion jackpot in Wednesday’s Christmas Eve drawing, ending the lottery game’s three-month stretch without a top-prize winner.

The winning numbers were 04, 25, 31, 52 and 59, with the Powerball number being 19.

READ MORE: Some personal finance advice on winning Powerball (or what would Voltaire do?)

Final ticket sales pushed the jackpot higher than previous expected, making it the second-largest in U.S. history and the largest Powerball prize of 2025, according to www.powerball.com. The jackpot had a lump sum cash payment option of $834.9 million.

“Congratulations to the newest Powerball jackpot winner! This is truly an extraordinary, life-changing prize,” Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, was quoted as saying by the website. “We also want to thank all the players who joined in this jackpot streak — every ticket purchased helps support public programs and services across the country.”

The prize followed 46 consecutive drawings in which no one matched all six numbers.

The last drawing with a jackpot winner was Sept. 6, when players in Missouri and Texas won $1.787 billion.

Organizers said it is the second time the Powerball jackpot has been won by a ticket sold in Arkansas. It first happened in 2010.

The last time someone won a Powerball jackpot on Christmas Eve was in 2011, Powerball said. The company added that the sweepstakes also has been won on Christmas Day four times, most recently in 2013.

Powerball’s odds of 1 in 292.2 million are designed to generate big jackpots, with prizes growing as they roll over when no one wins. Lottery officials note that the odds are far better for the game’s many smaller prizes.

“With the prize so high, I just bought one kind of impulsively. Why not?” Indianapolis glass artist Chris Winters said Wednesday.

Tickets cost $2, and the game is offered in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

Associated Press videojournalist Obed Lamy in Indianapolis contributed. Olivia Diaz is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

UK shoppers are expected to spend £3.8bn this Boxing Day, 2% more than last year, with online sellers experiencing most of that growth but high streets also enjoying a boost from a renewed appetite for post-Christmas bargains.

Boxing Day remains one of the busiest shopping days of the year, but in recent years the dash for the high street has eased as more people opt to search for bargains from the sofa.

With many discounts kicking off from midnight on Christmas Eve, Christmas Day is now worth more than £1bn in sales, with 23 million people in the UK expected to be buying online shortly after unwrapping their gifts. That is half a million more than last year, according to analysis by the research company GlobalData for Vouchercodes.co.uk.

High streets and other shopping centres are expected to record a 1.5% rise in sales on Boxing Day compared with last year, ahead of the 0.6% pace of shop price inflation, according to the latest British Retail Consortium figures. That is less than half the 3.4% growth expected in online sales, according to GlobalData.

Kien Tan at the advisory firm PwC said Boxing Day could benefit from a more lacklustre Black Friday sales period this year, during which retailers were disappointed by demand as shoppers held out for better bargains.

“There are signs are that Black Friday has peaked in the UK and there will still be people looking for bargains on Boxing Day. It’s not necessarily a comeback but it’s still there – a British institution.”

He said the hunt for bargains came as shoppers were feeling more cautious than a year ago as there was “a lot more uncertainty and people are holding back”.

Tan said online shopping was on the rise again, driven by busy middle-aged people rather than fashion shoppers. They are likely to be ready to spend more on furniture and other gadgets for the home in the post-Christmas sales as it is now five years since the pandemic fuelled a boom in spending on home improvements, so many goods bought at that time are becoming worn out.

Before Christmas, there were signs that shoppers were holding off on purchases. On Christmas Eve, fashion retailers launched early discounts after a mild autumn and winter for much of the country held back sales of knitwear and coats. New Look, Boohoo and Sports Direct all offered discounts of up to 70%, and Next, John Lewis and Topshop offered 50% off.

Visitor numbers were down 4.5% on Tuesday compared with 23 December last year, according to the retail footfall measuring firm MRI as a bounceback in cities including London was offset by poor numbers in towns and shopping centres. Footfall recovered some ground on Christmas Eve, up 0.4% on a year earlier.

Moji Oshisanya, the chief commercial officer of VoucherCodes.co.uk, said: “The uplift in sales over the Boxing Day sales period is driven by two key factors. We’re seeing a resurgence in appetite for the Boxing Day sales, with shopper numbers forecast to be at their highest level in four years – a healthy 105.2 million [over a week]. The Boxing Day sales are often a moment for consumers to treat themselves post-Christmas, and with finances tight, the deals and discounts available will be used to stretch budgets further.

“However, increased participation isn’t the only driver: inflation is also to blame. Over the wider six-week Christmas period, from mid-November to the end of December, sales value is expected to grow by 3.2%, yet sales volume is forecast to fall by 0.3%. This indicates that while people are spending more, driving up overall sales figures, they won’t necessarily be taking home more items.”

Boxing Day now vies with 27 December for the busiest shopping day post-Christmas and that will be particularly true this year as the 27th is a Saturday, so many people will be off work.

About 44% of consumers say they plan to hit the high streets from Boxing Day onwards, with 29% heading to retail parks and 22% expecting to visit big shopping centres, according to MRI.

High street spending has come under pressure in recent years as some big retailers – including most John Lewis outlets, Aldi, Poundland, B&Q, Next and large Marks & Spencer stores, remain closed on Boxing Day.

With family structures more diverse, many households also enjoy several celebratory meals in different locations, while public transport shutdowns can hold up trade on the traditional start to the post-Christmas sales.

In order to win the jackpot, a lottery ticket holder must match all five white balls and the red Powerball selected during a drawing.

Tickets for the lottery cost $2 each – and the odds of winning the jackpot are 1 in 292.2 million, according to game organisers.

A winner has an option to choose a lump-sum payment or receive the full amount in an annuity paid over 29 years, but most winners opt for the upfront cash option.

The game, which began in 1992, is played in 45 of the 50 US states, the capital city of Washington, and in the US territories of Puerto Rico and the Virgin Islands.

The winnings are subject to federal taxes of between 24% and 37%, and, in most cases, state taxes.

A Powerball player in Arkansas won a whopping $1.817bn (£1.34bn) jackpot in a Christmas Eve drawing, making it the second-largest lottery prize ever claimed.

The single winning ticket matched all six numbers – 4, 25, 31, 52, 59 and red Powerball 19 – giving the winner the option of taking a lump-sum cash payment of $834.9m.

This marks only the second time a Powerball jackpot has been won by a ticket sold in Arkansas, according to the lottery operator. Powerball did not identify the winner.

The largest single-ticket prize remains the $2.04bn jackpot won in 2022 by a player in Altadena, California.

In order to win the jackpot, a lottery ticket holder must match all five white balls and the red Powerball selected during a drawing.

Tickets for the lottery cost $2 each – and the odds of winning the jackpot are 1 in 292.2 million, according to game organisers.

A winner has an option to choose a lump-sum payment or receive the full amount in an annuity paid over 29 years, but most winners opt for the upfront cash option.

The game, which began in 1992, is played in 45 of the 50 US states, the capital city of Washington, and in the US territories of Puerto Rico and the Virgin Islands.

The winnings are subject to federal taxes of between 24% and 37%, and, in most cases, state taxes.

UK-listed companies will be able to bury controversies over executive pay for the first time in eight years, a thinktank has warned, after the Labour government shut down a public tracker meant to curb “abuses and excess in the boardroom”.

The public register was launched under the Tory prime minister Theresa May in 2017 to name and shame companies hit by shareholder revolts at their annual general meetings (AGMs). That included rebellions over issues such as excessive bonuses or salary increases for top earning bosses.

However, the Treasury – under the chancellor, Rachel Reeves – instructed the Investment Association (IA), the UK asset management trade body that maintained the register, to shut it down this autumn as part of a wider regulation action plan to increase economic growth by cutting “red tape” for businesses. The closure of the public log follows lobbying campaign by companies including the London Stock Exchange, whose bosses claim bad publicity over executive pay is harming the City’s competitiveness and deterring UK listings.

However, the High Pay Centre, a thinktank, is warning the move will harm transparency and make it easier for companies listed on the FTSE All-Share Index to dismiss investors’ concerns, starting in the 2026 annual shareholder meetings season.

“This is worrying, from our perspective,” Paddy Goffey, a researcher at the thinktank, said. “This would make it more likely that significant cases of shareholder dissent on issues of pay, governance and wider strategy will go unnoticed.”

About 26% of FTSE 100 companies have had a shareholder rebellion against executive pay over the past three years. Dissent is considered a shareholder rebellion if 20% or more of the vote is against a specific resolution. “This reflects the significant levels of dissent within shareholder votes and how crucial such information is for investors and other stakeholders,” Goffey said.

The High Pay Centre acknowledged corporate reporting rules could be burdensome and complex, and should be streamlined. However, that should not include discontinuing tools such as the register that provided genuine value to stakeholders, the thinktank said. The closure added to other “worrying trends” around corporate transparency such as the shift to online-only AGMs.

Rather than closing the register, companies should be forced to provide more detailed explanations about the reason for shareholder dissent and how their boards planned to respond in the future, the High Pay Centre said.

“Ultimately, discontinuing the register will make it much harder and more time-consuming to gather the relevant data and information, as such data could be ‘buried’ in complex filings, AGM results or lengthy reports,” it added.

The decision illustrates the significant cultural shift that has taken place across the City since the May government launched the world’s first public log of dissenting shareholder votes in order to “restore public confidence in big business”.

“It [the register] definitely had a role in holding companies to account in the early years, especially on remuneration, and for a while companies truly did worry about the prospect of being named on the register,” said Yousif Ebeed, the corporate governance lead at the assent managers Schroders.

“And at the time, there was a sense that companies were not giving sufficient weight to shareholder concerns. The register helped shine a light on these companies, to an extent kickstarting an environment where transparency and shareholder engagement have become embedded practice.”

Fast forward to 2025, and City campaigners are raising fears that the UK is losing out on investment to the US, where Donald Trump has embarked on a “bonfire of regulation” in an attempt to lure money and business.

The UK Treasury said in October tit was “grateful to the IA for establishing the register following a request from government” but that the public log had “served its purpose”. The Treasury added that the corporate governance code “already offered transparency for investors”.

Ebeed said most institutional investors would remain “unaffected”.

However, at a time when the government is pushing for more of the public to buy up UK shares, there is a fear that small retail investors could be left at a disadvantage.

“The reduction in transparency and knowledge on company practice could reduce the ability of investors to make informed decisions,” Goffey said.

“Having all this data in one place also makes it easier to track discontent, identify trends and compare companies or sectors. It is plausible that, with the raising of the barrier to holding companies accountable in this way, they [companies] will be less likely to take such dissent seriously and respond appropriately.”

The UK’s rollout of electric car chargers slackened markedly in 2025 amid investor concerns over a slower-than-expected switch to cleaner battery vehicles.

There were 87,200 chargers installed in the UK at the end of November, an increase of 13,500 compared with the end of 2024, according to data from Zapmap, which tracks charger installations.

That represented the smallest number of new chargers installed in the UK since 2022, and put the industry on track for growth of less than 20%, down from 37% the year before. It would be the slowest annual growth in the decade since installations started to take off.

The number of electric cars sold is still growing rapidly, accounting for 23% of British sales in the first 11 months of 2025 – up from 19% at the same point last year. However, growth has not been as quick as previously expected. Some manufacturers have slowed their switch from petrol to electric, while some investors in charging infrastructure have also slowed down.

Carmakers persuaded the UK government to weaken electric car sales targets despite warnings from the charging industry that lower sales would imperil investment.

Colin Walker, the head of transport at the Energy and Climate Intelligence Unit, a thinktank, said the slowdown in charger installations this year was “no surprise” given the “rather mixed messages on EVs” from the UK government, including a new pay-per-mile tax on electric cars from 2028, announced at last month’s budget.

“Its weakening of the zero emission vehicle mandate could incentivise the sale of plug-in hybrids rather than EVs,” he said. “And while it won’t change the fact that EVs will remain considerably cheaper to run, the 3p per mile tax on EVs risks undermining consumer confidence. All of this could slow EV sales considerably, which, in turn, could undermine business confidence and slow investment in the public charging infrastructure this country needs.”

There were 48,100 slow chargers at the end of November, an increase of 15% over the year. The number of ultra-rapid chargers, which tend to be used for quick top-ups on longer journeys, rose 39% to about 9,800.

Vicky Read, the chief executive of ChargeUK, a lobby group for the charging industry, said that there had been fewer installations than the industry wanted of slow chargers, which tend to be used to charge more cheaply overnight.

“Across the market charge point operators have been facing rapidly rising costs, which has impacted the pace of the rollout in some more commercially challenging locations, while grid connections continue to hold back installations,” she said.

Some analysts believe that the UK’s charger rollout is on track. The supply of public charging across Great Britain remains ahead of demand by 1.5 years, according to analysis in September by Cenex, a non-profit research body. However, rapid chargers by motorways for longer journeys are much more developed: existing charge points could cope with demand for the next six years without any more added, Cenex said.

Read said delayed local electric vehicle infrastructure (Levi) funding for councils would start arriving in bulk in 2026 and 2027, helping installations to accelerate again.

She said: “To ensure we stay on track as we make this transition, we need to have the government’s support to reduce the cost burden – which is affecting driver prices as well as pace of rollout – and to remove the bottlenecks like connecting to the grid.”

Despite the UK’s progress in charger installations, the regional variations remain large. Northern Ireland, the poorest region in the UK, has only 39 public chargers for each 100,000 people, compared with 301 for London, according to Zapmap data last updated in October. Northern Ireland, the East Midlands and north-east England were the slowest regions for charger installations per person in the year to October.

Melanie Shufflebotham, the Zapmap chief operating officer, said there was still “strong growth in ultra-rapid charging”.

“Charge point operators face challenges as the tender and commercial contract process for the Levi fund have taken longer than anticipated, and in parallel, there are also concerns in terms of accessing grid connections in a timely fashion,” she added.

Story Continues

American Eagle pays an annual dividend of $0.50, yielding 1.84%. Its most recent quarterly cash dividend of $0.125 per share is payable on Jan. 23, 2026, to shareholders of record on Jan. 9, 2026. While modest, the payout reinforces balance-sheet stability and shareholder alignment.

On Dec. 2, American Eagle reported Q3 fiscal 2025 earnings that exceeded expectations on both revenue and profit, sending shares up 15.1% the following session. Revenue rose 5.7% year-over-year (YOY) to $1.36 billion, surpassing Wall Street’s $1.32 billion forecast.

The company delivered record third-quarter revenue, led by Aerie’s double-digit comparable sales growth and positive momentum at American Eagle. Net income climbed 14.2% from the prior year to $91.34 million, while EPS increased 29.3% to $0.53, beating the $0.44 Street estimate.

Buoyed by stronger trends, American Eagle’s management has raised fourth-quarter operating income guidance to $155–$160 million, based on comparable sales growth of 8% to 9%. This marks a significant upgrade from prior guidance of $125–$130 million, which assumed low single-digit comps.

For the full year, adjusted operating income guidance has risen to $303–$308 million, with comparable sales in the low single digits. This compares with prior guidance of $255–$265 million on flat comps.

Meanwhile, analysts project fiscal 2025 Q4 EPS to rise 22.2% YOY to $0.66. However, full-year fiscal 2025 EPS may decline 23.6% to $1.33, before rebounding 18.8% to $1.58 in fiscal year 2026, reflecting normalization after outsized volatility.

Wall Street maintains a cautious stance on AEO. The stock holds a consensus “Hold” rating, with two of 13 analysts recommending “Strong Buy,” nine advising “Hold,” one suggesting “Moderate Buy,” and one issuing a “Strong Sell,” underscoring divided conviction.

AEO stock already trades above its average price target of $22.70, signaling that much optimism is priced in. However, the Street-high target of $31 implies potential upside of 16.3% from current levels.

On the date of publication, Aanchal Sugandh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

China achieved new breakthroughs in fields including integrated circuits, artificial intelligence (AI) and basic software over the past five years, with over 700 generative AI large model products having completed filing procedures, the Cyberspace Administration of China (CAC) said on Thursday.

During the 14th Five-Year Plan period (2021-2025), the total number of products equipped with HarmonyOS, an open-source operating system, exceeded 1.19 billion units, and embodied intelligence is gradually advancing toward industrial application, according to the CAC.

China has seen remarkable improvement in its information technology application, with internet penetration rising from 70.4 percent to 79.7 percent during the period, the CAC said.

Read More: 9th CPEC Media Forum brings together leaders

The country’s urban-rural gap in internet penetration narrowed by 8.2 percentage points compared to five years ago, the CAC said, adding that the rate of information technology application in agricultural production increased from 22.5 percent to over 30 percent.

In 2024, national online retail sales in rural areas exceeded 2.5 trillion yuan (about 355 billion US dollars), a 43 percent growth from the end of the 13th Five-Year Plan period (2016-2020). The telemedicine service network now covers all cities and counties across the country, according to the CAC. 

Beijing, China, December 25, 2025 – EHang Holdings Limited (Nasdaq: EH) (“EHang” or “the Company”), the world’s leading Advanced Air Mobility (“AAM”) technology platform company, announced that the first EH216-F electric vertical take-off and landing (“eVTOL”) firefighting aircraft has been rolled off from the assembly line at EHang’s Low-Altitude Emergency Rescue Equipment Headquarters (“the Headquarters”) in Fangshan District, Beijing. Marking the first anniversary of the Company’s strategic cooperation with the local government, this milestone marks a solid beginning for the Company’s manufacturing in the low-altitude emergency rescue sector through a benchmark project of government-enterprise collaboration and the integration of industrial production with R&D.

Government officials visit EHang’s Fangshan headquarters in Beijing, accompanied by Zhao Wang, Chief Operating Officer of EHang, and other executives.

The rollout ceremony took place this afternoon of at the Headquarters in Fangshan District, Beijing. Leaders including Zhixin Di, Deputy Secretary of the Fangshan District Committee and District Mayor, as well as Wujun Gao, Deputy District Mayor, attended the event. Accompanied by Zhao Wang, Chief Operating Officer of EHang, and other senior executives, the guests toured the EH216-F firefighting eVTOL assembly line.

The rollout ceremony took place this afternoon at the Headquarters in Fangshan District, Beijing. Attendees included leaders from the Beijing Fangshan District Government and Kun Guo, Chairman of Beijing Xinzhi Airport Management Co., Ltd and so on. Accompanied by Zhao Wang, Chief Operating Officer of EHang, and other senior executives, the guests toured the EH216-F firefighting eVTOL assembly line.

Since December 2024, EHang and Fangshan District Government have implemented a strategic partnership centered on “one headquarters, multiple scenarios, full-industry coverage” to build the Low-Altitude Emergency Rescue Equipment Headquarters. Supported by Fangshan’s “Six Ones” industrial framework—comprising a target industry, a dedicated coordination team, an affiliated university, an industry fund, a startup incubator, and a specialized industrial park—the project has progressed efficiently. The initial phase of factory construction has been completed, and the site will continue to be developed into a comprehensive base integrating R&D, testing, assembly, maintenance, and training, laying a solid foundation for the sustainable development of China’s low-altitude emergency rescue sector.

Zhao Wang (first from left), Chief Operating Officer of EHang, and guests attend the rollout of the first EH216-F firefighting eVTOL at EHang’s Fangshan headquarters in Beijing.

China’s 15th Five-Year Plan (2026-2030) has reinforced the low-altitude economy as a strategic emerging industry cluster, with ongoing policies promoting industrial innovation. The General Aviation Equipment Innovation and Application Implementation Plan (2024–2030) also targets the commercial deployment of unmanned, electric, and intelligent general aviation equipment in emergency rescue and other fields by 2027. Leveraging Beijing’s strategic position, EHang intends to build a national benchmark project at the Headquarters in Fangshan, advancing modern emergency rescue management and high-quality development of the low-altitude economy during the 15th Five-Year Plan period.

First fully assembled EH216-F at EHang’s Beijing Fangshan low-altitude emergency rescue base

Fangshan District will continue to deepen its leading cooperation with key industry players such as EHang, with a focus on key areas including aircraft manufacturing and aviation batteries, while promoting technology and resource integration across the entire value chain. Leveraging the advantages of our industrial park, Fangshan will actively participate in the coordinated low-altitude emergency rescue development across the Beijing–Tianjin–Hebei region, facilitate cross-regional aerial connectivity, and build a service support platform for industrial chain upgrading

Zhao Wang, Chief Operating Officer of EHang deliver a speech at the ceremony

Zhao Wang, Chief Operating Officer of EHang, added: “Low-altitude emergency rescue sector is not only a vital component of the low-altitude economy, but also a key direction for developing aerial rescue capabilities and advancing integrated social security systems. It represents a strategic fulcrum for fostering and strengthening new quality productive forces. Since partnering with the Fangshan District Government, both sides have been committed to building a new ecosystem for the low-altitude emergency rescue sector, aiming to establish a national benchmark project for early-stage deployment and trials, featuring comprehensive and scalable capabilities. The successful assembly of the first EH216-F at the Headquarters in Fangshan signifies a positive beginning for low-altitude firefighting equipment manufacturing in the Beijing-Tianjin-Hebei region, laying the groundwork for the subsequent development of the low-altitude emergency rescue industry. Moving forward, we will continue advancing innovation in pilotless eVTOL technologies, working closely with Fangshan District Government and industry partners to further strengthen the low-altitude emergency rescue ecosystem. Through these efforts, we aim to deliver safer, smarter, more efficient, and greener low-altitude solutions for the modernization of China’s emergency rescue systems during the 15th Five-Year Plan period.”

About EHang

EHang (Nasdaq: EH) is the world’s leading advanced air mobility (“AAM”) technology platform company, committed to making safe, autonomous, and eco-friendly air mobility accessible to everyone. The company develops and manufactures a diversified portfolio of pilotless electric vertical take-off and landing (“eVTOL”) aircraft for a wide range of use cases, including aerial tourism, intra-city transport, intercity travel, logistics and emergency firefighting. Its flagship model, EH216-S, has obtained the world’s first type certificate, production certificate and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China, and is now commercially operated under the country’s first Air Operator Certificates for human-carrying eVTOL services. Complementing this, EHang’s VT35 expands its reach into long-range and intercity scenarios, supporting the development of a multi-tiered low-altitude mobility network. By integrating advanced autonomous technologies with scalable operational infrastructure, EHang is redefining how people and goods move—across cities, regions, and natural barriers—shaping the future of air mobility. For more information, please visit www.ehang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about management’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause EHang’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.