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Chris Zeng

Research Analyst at UBS Group AG

Chris Zeng is an Executive Director and Equity Research Analyst at UBS Group AG, specializing in the coverage of China’s technology, hardware, and semiconductor sectors. He provides research and investment analysis on leading companies such as Lenovo, Xiaomi, Luxshare Precision, and BYD, and his stock recommendations have consistently ranked among the more accurate in Asia-Pacific technology research, achieving a success rate above the sector average and positive annualized returns according to major independent analyst rating platforms. Chris began his career at Credit Suisse before joining UBS in 2017, progressing to his current senior role and steadily expanding his influence in Greater China’s TMT research landscape. He holds key industry credentials, including CFA charterholder status and regional securities licenses, and is recognized for his detailed fundamental analysis and timely market insights.

Chris Zeng's questions to Western Union (WU) leadership

Chris Zeng's questions to Western Union (WU) leadership • Q4 2024

Question

Chris Zeng of UBS inquired about Western Union's long-term investment needs and priorities beyond 2025, and how future investments would be funded after the current $150 million expense redeployment program concludes.

Answer

CFO Matt Hagan assured that the company has ample capacity for investment and sees continued opportunities for cost optimization beyond the current program. CEO Devin McGranahan added that ongoing operational efficiency gains will continue to provide funds for reinvestment. Crucially, he highlighted that the final deferred tax payment related to the Tax Act in April 2025 will significantly free up cash flow, enhancing the company's ability to return capital to shareholders and/or pursue inorganic growth opportunities.

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