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Yan Liu

Research Analyst at Citigroup

Yan Liu is an equity research analyst at Citigroup specializing in biotechnology and pharmaceutical equities, providing in-depth coverage of innovative companies such as HUTCHMED and others in the sector. With a strong analytical background and a proven track record in company research and investment recommendations, Liu’s coverage reports are frequently referenced by leading life sciences firms and investor relations teams. Liu joined Citigroup after advancing through premier academic and quantitative training, where they honed expertise in financial modeling and sector analysis. Professionally credentialed with key securities licenses, Liu has consistently been recognized for a data-driven approach and insightful sector forecasting.

Yan Liu's questions to JOYY (JOYY) leadership

Question · Q3 2025

Yan Liu inquired about JOYY's long-term strategic goals for its advertising business and the operational plans for 2026.

Answer

Jane Xie, Senior Manager of Investor Relations, on behalf of Chairperson and CEO Ting Li, outlined plans to establish BIGO Ads as a global, performance-driven, multi-channel advertising platform. Key strategies include expanding the supply base through multi-channel layouts (web, open networks, mobile apps), diversifying advertiser verticals (casual games, e-commerce, finance), accumulating data for user profiling and model optimization, and maintaining a global footprint with a focus on North America and Europe. 2026 growth drivers include traffic expansion, increased advertiser spending, new vertical penetration, improved data infrastructure, and geographic market expansion.

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