Tim Yao's questions to EHang Holdings (EH) leadership • Q2 2025
Question
Tim Yao of Morgan Stanley inquired about the rationale and timing behind the significant reduction in the full-year revenue guidance, questioning if it was driven by external factors or operational challenges. He also requested an update on the progress of Operating Certificate (OC) applications for EHang's clients.
Answer
COO Zhao Wang clarified that the strategic adjustment to lower the revenue guidance to approximately RMB 500 million is not due to a lack of market demand but reflects a deliberate shift in focus towards supporting existing clients in establishing safe, regular commercial operations post-OC attainment. He affirmed the company's confidence in meeting the revised target. Regarding client OC applications, Mr. Wang noted significant interest and outlined two progressing models: clients applying directly with EHang's full support, or EHang managing the application process on the client's behalf.