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    Ewan Zhang

    Vice President and Equity Research Analyst at China Renaissance

    Ewan Zhang is a Vice President and Equity Research Analyst at China Renaissance, specializing in the coverage of China's TMT (Technology, Media, and Telecom) sector. He provides in-depth analysis and investment recommendations on major companies such as Alibaba, Tencent, JD.com, and Meituan, consistently delivering actionable insights to institutional clients. Since joining China Renaissance in 2018 after prior roles in finance and research, Zhang has built a reputation for high-quality sector research and has been recognized for his accurate earnings forecasts and stock calls, with a success rate on published recommendations exceeding industry averages. He holds CFA designation and is licensed for securities analysis in Hong Kong, underpinning his expertise with robust professional credentials.

    Ewan Zhang's questions to TAL Education (TAL) leadership

    Ewan Zhang's questions to TAL Education (TAL) leadership • Q3 2025

    Question

    Ewan Zhang of China Renaissance asked for an update on TAL's long-term investment strategy, specifically where capital is being allocated and whether there have been notable changes in returns on these investments.

    Answer

    Executive Zhuangzhuang Peng explained that TAL is deepening its investment in early-stage areas like online offerings and smart learning devices to enhance user experience and expand its customer base. He outlined key investment priorities: 1) Technology and content, particularly AI and large language models; 2) Establishing robust online and offline customer communication channels; and 3) Strengthening the organization by nurturing internal talent and recruiting externally.

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