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Ewen Zhang

Research Analyst at China Renaissance

Ewen Zhang is an analyst at China Renaissance specializing in equity research within the technology and consumer sectors, providing in-depth coverage of leading Chinese companies in these industries. Zhang is recognized for rigorous analysis on firms such as Meituan, Alibaba, JD.com, and Pinduoduo, consistently delivering actionable investment insights. With a career spanning several years at China Renaissance, Zhang has established a reputation for research accuracy, though detailed performance metrics and rankings are not publicly disclosed. Ewen Zhang holds professional credentials relevant to the financial analysis field, supporting a track record of sector expertise and credibility in equity markets.

Ewen Zhang's questions to HUYA (HUYA) leadership

Ewen Zhang's questions to HUYA (HUYA) leadership • Q4 2024

Question

Ewen Zhang of China Renaissance asked for an update on the live streaming revenue trend and the company's overall profitability margin outlook.

Answer

Junhong Huang, Acting Co-CEO and SVP, reported that live streaming revenue remained weak in Q4 due to the macro environment and expects a seasonal decline in Q1 2025. However, profitability improved, with Q4 gross margin reaching 11.4%, a significant YoY increase driven by lower content and streamer costs. Huang noted that while the company will control expenses, future bottom-line performance will depend more on operating results, as interest income is expected to decrease significantly due to the large dividend payment.

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