EHang Holdings Limited has announced that Mr. Nick Ning Yang has been appointed as a new director to the Company’s Board of Directors (the “Board”), effective December 5, 2022. The Board has reviewed and determined that Mr. Yang meets all the “independence” requirements under Rule 10A-3 of the United States Exchange Act of 1934 and Rule 5605 of the Nasdaq Stock Market Rules.
Mr. Yang is a renowned serial technology entrepreneur and investor highlighted by success across the U.S. and China. He is a founding Partner of LeBox Capital, a venture investment fund established in 2011 that focuses on early-stage high growth TMT companies in China. Prior to that, Mr. Yang was a co-founder of KongZhong Corporation, a company focusing on wireless value-added services and listed on Nasdaq in July 2004 and served as Chief Technology Officer from 2002 to 2008. Mr. Yang had also held the position of Vice President of Technology at Nasdaq-listed Sohu from 2000 to 2001. From 1999 to 2000, Mr. Yang served as Chief Technology Officer of ChinaRen.com, a company he co-founded. Mr. Yang received a bachelor’s degree in electrical engineering from the University of Michigan in 1997 and a master’s degree in electrical engineering from the Stanford University in 1999.
Mr. Huazhi Hu, EHang’s Founder, Chairman of the Board and Chief Executive Officer, commented, “We are greatly honored to have Mr. Yang join us as our independent director. Mr. Yang has witnessed the growth of the Company and the global emerging Urban Air Mobility (“UAM”) industry as one of our early investors and brings to us more than 20 years of rich capital market experience in TMT investments and invaluable entrepreneurial expertise in several successful technology companies. We look forward to high-quality, sustainable growth with Mr. Yang onboard as we continue our strategic development into a new stage with his extensive professional industry insights and corporate management capabilities.”