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    C. C. Chen

    Research Analyst at CLSA

    Astoria Chen is an Investment Analyst at CLSA, specializing in the semiconductor industry and providing in-depth investment analysis on major companies within this sector. Their expertise encompasses evaluating leading semiconductor firms, contributing analytically rigorous insights for institutional clients. Astoria Chen began their analyst career at CLSA and has developed a reputation for sector-specific knowledge, although detailed performance rankings and quantitative metrics are not publicly available. Professional credentials and securities licenses for Astoria Chen have not been disclosed.

    C. C. Chen's questions to JOYY (JOYY) leadership

    C. C. Chen's questions to JOYY (JOYY) leadership • Q2 2025

    Question

    C. C. Chen of CLSA inquired about the primary drivers and unique advantages behind the advertising business's robust growth, which has outpaced the industry average. She also asked about the potential for synergy between JOYY's different business segments.

    Answer

    Ting Li, Chairperson and CEO, attributed the ad tech growth to algorithm optimization, development of vertical models, and market expansion. She highlighted competitive advantages from proprietary data from 263 million users and ecosystem synergies. Regarding synergy, she explained that the ad tech business was built upon the live streaming foundation and that future achievements in ad tech will, in turn, empower the live streaming business, creating a reinforcing flywheel effect and driving the company's evolution into a diversified tech firm.

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