Zhiyuan Zeng

Liang Hu, Jianpeng Jiao, Jiashuo Liu et al.

Search has emerged as core infrastructure for LLM-based agents and is widely viewed as critical on the path toward more general intelligence. Finance is a particularly demanding proving ground: analysts routinely conduct complex, multi-step searches over time-sensitive, domain-specific data, making it ideal for assessing both search proficiency and knowledge-grounded reasoning. Yet no existing open financial datasets evaluate data searching capability of end-to-end agents, largely because constructing realistic, complicated tasks requires deep financial expertise and time-sensitive data is hard to evaluate. We present FinSearchComp, the first fully open-source agent benchmark for realistic, open-domain financial search and reasoning. FinSearchComp comprises three tasks -- Time-Sensitive Data Fetching, Simple Historical Lookup, and Complex Historical Investigation -- closely reproduce real-world financial analyst workflows. To ensure difficulty and reliability, we engage 70 professional financial experts for annotation and implement a rigorous multi-stage quality-assurance pipeline. The benchmark includes 635 questions spanning global and Greater China markets, and we evaluate 21 models (products) on it. Grok 4 (web) tops the global subset, approaching expert-level accuracy. DouBao (web) leads on the Greater China subset. Experimental analyses show that equipping agents with web search and financial plugins substantially improves results on FinSearchComp, and the country origin of models and tools impact performance significantly.By aligning with realistic analyst tasks and providing end-to-end evaluation, FinSearchComp offers a professional, high-difficulty testbed for complex financial search and reasoning.

Zhengyan Zhang, Zhiyuan Zeng, Yankai Lin et al.

This work examines the presence of modularity in pre-trained Transformers, a feature commonly found in human brains and thought to be vital for general intelligence. In analogy to human brains, we consider two main characteristics of modularity: (1) functional specialization of neurons: we evaluate whether each neuron is mainly specialized in a certain function, and find that the answer is yes. (2) function-based neuron grouping: we explore finding a structure that groups neurons into modules by function, and each module works for its corresponding function. Given the enormous amount of possible structures, we focus on Mixture-of-Experts as a promising candidate, which partitions neurons into experts and usually activates different experts for different inputs. Experimental results show that there are functional experts, where clustered are the neurons specialized in a certain function. Moreover, perturbing the activations of functional experts significantly affects the corresponding function. Finally, we study how modularity emerges during pre-training, and find that the modular structure is stabilized at the early stage, which is faster than neuron stabilization. It suggests that Transformers first construct the modular structure and then learn fine-grained neuron functions. Our code and data are available at https://github.com/THUNLP/modularity-analysis.