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    Bing Duan

    Research Analyst at Nomura

    Bing Duan is an Equity Research Analyst at Nomura in Hong Kong, specializing in coverage of technology and internet companies across the Hong Kong and US markets. He has analyzed specific firms such as Kingsoft Cloud and Agora, with his most profitable recommendation yielding an 89.5% gain for Kingdee International Software Group. Duan’s career spans over 15 years, including roles as Manager, Associate, and Business Analyst prior to joining Nomura in January 2017. He holds an MBA from HKUST and both Master’s and Bachelor’s degrees from Shanghai Jiao Tong University; however, specific FINRA or securities license registrations are not publicly listed.

    Bing Duan's questions to Agora (API) leadership

    Bing Duan's questions to Agora (API) leadership • Q1 2025

    Question

    Bing Duan from Nomura inquired about the expected timing for the mass adoption of conversational AI, given its current price premium, and asked about the competitive landscape and pricing trends in China and their potential impact on gross margins.

    Answer

    Founder, CEO & Chairman Tony Zhao stated that a single tipping point for AI adoption is unlikely; instead, it will occur gradually across hundreds of different products as they each achieve product-market fit, making a specific timeline difficult to predict. CFO Jingbo Wang addressed competition in China, noting market consolidation and Agora's strategy of focusing on higher-value use cases and technical optimization to maintain stable gross margins. She believes the future of competition will be a combination of real-time communication and conversational AI.

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