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    Ronnen Zhou

    Vice President and Equity Research Analyst at Citigroup

    Ronnen Zhou is a Vice President and Equity Research Analyst at Citigroup, specializing in the coverage of Chinese internet and technology companies including JD.com, Alibaba, Tencent, and Pinduoduo. Renowned for consistent and actionable investment insights, Zhou has delivered a published success rate above 62% and has ranked among the top 50 Wall Street analysts on TipRanks, generating average returns in the double-digit percentage range. Zhou began his career in equity research after graduating from Tsinghua University and joined Citi in 2019, following previous research experience with UBS and Bank of China International. He holds active FINRA Series 7, 63, and 79 licenses and is recognized for his deep sector expertise and strong performance track record in Greater China equities research.

    Ronnen Zhou's questions to EHang Holdings (EH) leadership

    Ronnen Zhou's questions to EHang Holdings (EH) leadership • Q2 2025

    Question

    Ronnen Zhou from Citigroup asked if the downward revision of revenue guidance would affect the planned expansion of the Yunfu production base to a capacity of 1,000 units per year. He also inquired if this would lead to any changes in the 2025 CapEx guidance.

    Answer

    CFO Connor Yang confirmed that the Yunfu production base expansion to 1,000 units annually will proceed as planned to ensure capacity for future demand and diverse models like the VT-35 and firefighting aircraft. He also stated that the full-year 2025 CapEx guidance remains unchanged at US$14 million.

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