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    Alicis a Yap

    Yap is a Vice President and Analyst at China International Capital Corporation

    Alicis A Yap is a Vice President and Analyst at China International Capital Corporation, specializing in equity research within the consumer and technology sectors. She has covered top Chinese companies such as Meituan and other leading retail and tech enterprises, maintaining a track record of accurate market insights and strong performance metrics, including competitive sector rankings and positive investment returns. Yap began her analyst career at a regional investment bank before joining CICC in 2021, where she has consistently contributed high-quality research analysis. She holds professional credentials including securities licenses recognized by Chinese financial authorities and is noted for her analytical contributions to industry publications.

    Alicis a Yap's questions to Sohu.com (SOHU) leadership

    Alicis a Yap's questions to Sohu.com (SOHU) leadership • Q3 2024

    Question

    Alicis a Yap of CICC inquired about the advertising outlook for Q4 and 2025, the reasons for conservative Q4 gaming guidance after a Q3 beat, and the slow execution of the share buyback program.

    Answer

    Chairman and CEO Dr. Charles Zhang stated the advertising market remains soft, with Q3 strength coming from unique events rather than a broad economic recovery. Changyou CEO Dewen Chen explained the Q3 gaming beat was due to strong performance from TLBB PC content, while Q4 guidance is conservative as the focus shifts to user stability over revenue. Dr. Zhang attributed the slow buyback pace to daily trading volume limits, necessitating the program's extension to 2026.

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