Source: Agricultural Bank of China Guangzhou Branch

It is reported on December 13 by Xinhua Guangdong, the Guangzhou Branch of the Agricultural Bank of China (hereafter referred to as ABC or the bank) continues to make efforts to escort the high-quality development of the manufacturing industry, closely link to the reconstruction of the industrial base and the upgrading of the industrial chain, optimize structure, innovate service, and promote a virtuous cycle of finance, industry, and technology.

In the report, EHang has been taken as one of the two examples for the bank to escort the high-quality development of the manufacturing industry, with the other example being Guangzhou FiiO Electronic Technology Co., Ltd., which is engaged in the research and development of audio equipment.

According to the report, EHang is an intelligent autonomous aircraft technology enterprise. Since 2022, with the continuous increase of customers and sales orders, the enterprise needs more financial support in terms of research and development, production and business.

After learning about this situation, the bank pledged the patent rights of the enterprise and granted it a working capital loan of 30 million yuan pledged with intellectual property rights.

“ABC’s intellectual property pledge loans help us transform ‘intellectual property’ into ‘assets’, enhance the company’s financial flexibility and liquidity, and help us expand production and business.” Peng Songfen, financial manager of EHang, said.

In June 2022, the Guangzhou Branch of the Agricultural Bank of China and EHang held a strategic cooperation signing ceremony and reached a long-term cooperation with an intentional credit line of 1 billion yuan.