Q3 2025 EHang Holdings Ltd Earnings Call Transcript

Nov 26, 2025 / 01:00 PM GMT

Transcript

Key Points

Positve

EHang Holdings Ltd (EH) delivered 42 units in Q3 2025, generating RMB92.5 million in total revenues.
The company launched the VT35, a next-generation long-range lift and cruise pilotless human-carrying vehicle, expanding its product portfolio.
EHang Holdings Ltd (EH) has received purchase orders for the VT35 from multiple regions in China and has started deliveries and test flights.
The company is advancing global deployment with notable progress in Asia, the Middle East, and Africa, including trial operations in Thailand and Qatar.
EHang Holdings Ltd (EH) maintains a strong capital reserve of RMB1.13 billion, providing flexibility for future R&D investments and production expansion.

Negative

There was a temporary slowdown in deliveries due to the company's strategic focus on operational preparations, affecting short-term revenue.
The gross profit margin declined slightly to 60.8% in Q3 2025, compared to 61.2% in Q3 2024 and 62.6% in Q2 2025.
Revenues and deliveries saw quarter-over-quarter and year-over-year declines due to delayed payment schedules from certain customers.
The VT35 is still in the trial production phase, resulting in high unit costs and affecting profitability.
The company reported an adjusted net loss of RMB20.3 million in Q3 2025, primarily due to decreased revenue.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

EH.OQ - EHang Holdings Ltd
Q3 2025 EHang Holdings Ltd Earnings Call
Nov 26, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day ladies and gentlemen.

Thank you for standing by and welcome to the Ahhang 3rd quarter 2025 earnings conference call.

Please note that the management's prepared remarks and the subsequent Q&A session will primarily be conducted in Chinese, and the corresponding simultaneous or consecutive interpretation can be accessed on the English line.

As a reminder, all translations are for convenient purpose only. In case of any discrepancy, the management statement in the original language will prevail.

To listen to the original remarks by management, please join the Chinese line.

Additionally, both Chinese and English lines are open for questions, and today's call is being recorded.

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