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Yuan Liu

Vice President and equity research analyst at Citigroup

Yuan Liu is a Vice President and equity research analyst at Citigroup, specializing in coverage of biopharmaceutical companies including HUTCHMED and other publicly listed global pharma firms. Liu's analytical expertise has positioned him as a recognized commentator on industry trends, with regular appearances in company analyst coverage lists, though public records do not disclose specific performance metrics, tip rankings, or returns. He began his career in equity research after graduating from a leading university, joining Citigroup in the early 2020s following previous internships or analyst roles in related financial institutions. Yuan Liu holds industry-standard credentials, such as FINRA registration and applicable securities licenses, to conduct equity research and investment analysis for institutional clients.

Yuan Liu's questions to JOYY (JOYY) leadership

Question · Q3 2025

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

Answer

Jane Xie, Senior Manager of Investor Relations, outlined the strategy to transform BIGO Ads into a global platform for performance-driven, multi-channel advertising across diverse verticals. Key goals include establishing a multi-channel layout (web, open networks, mobile app developers), diversifying advertiser coverage (casual games, tools, mid-hardcore games, content/social, e-commerce, finance, D2C), and leveraging accumulated data for full-domain user profiling. Geographically, BIGO Ads will maintain a global footprint with a core focus on North America and Europe. For 2026, plans include continued traffic expansion, strong growth in IAA and web-based advertisers, new vertical penetration, improved advertising data infrastructure (including the iOS ecosystem), and geographic market expansion.

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