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    Yanyan Zhao

    Managing Director and Senior Analyst at CICC

    Yanyan Zhao is a Managing Director and Senior Analyst at CICC, specializing in the coverage of the Chinese consumer sector with a primary focus on leading companies such as Kweichow Moutai, Wuliangye Yibin, and China Resources Beer. She has garnered recognition for her insightful equity research, achieving strong rankings among Mainland China analysts and delivering above-market returns on her stock recommendations, often cited for a track record of outperforming sector benchmarks. Zhao began her career as an analyst after earning an advanced finance degree, previously working at CITIC Securities before joining CICC in 2014, and she has steadily risen through the ranks due to her analytical acumen and market foresight. She holds industry-standard securities analyst credentials in China, is known for presenting at major investment conferences, and has received accolades for her role in shaping the consumer sector research landscape.

    Yanyan Zhao's questions to Kanzhun (BZ) leadership

    Yanyan Zhao's questions to Kanzhun (BZ) leadership • Q3 2024

    Question

    Yanyan Zhao questioned the progress of the company's overseas business and how investments would be balanced with profit targets. She also asked for the company's view on AI applications in recruitment and their potential for revenue generation or cost reduction.

    Answer

    CEO Peng Zhao stated that there will be no large-scale investment in overseas business next year, as the company is still in a small-scale, experimental phase and will not commit significant capital without more certainty. On AI, he noted that while there is much hype, practical applications are key. He outlined principles of fairness and transparency in AI use. A primary current application is enhancing platform security, where AI has improved the efficiency of the safety review team, thereby increasing the cost for fraudulent actors and creating real operational value.

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