经济观察网北京人力（600861）预计2025年净利润为10.5亿元至13亿元，同比增长32.68%至64.26%。 人力资源和社会保障部在2026年1月宣布，将出台应对人工智能影响促就业文件、制定新就业形态劳动 者权益保障办法等举措。这些政策可能为人力资源服务行业带来结构性机会，对北京人力等龙头企业形 成潜在利好。 以上内容基于公开资料整理，不构成投资建议。 根据北京人力于2026年1月27日发布的业绩预告，公司预计2025年年度实现归属于上市公司股东的净利 润为10.5亿元至13亿元，较上年同期增长32.68%至64.26%。业绩变动主要源于主业客户开发与服务价值 提升、成本费用优化，以及出售全资子公司股权确认的非经常性收益。 行业政策与环境 业绩经营情况 ...

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector [3]. Core Insights - The 2026 Spring Festival will feature a "9-day no work adjustment" policy, leading to a high public satisfaction rate of 92.9%. This extended holiday is expected to significantly boost travel and consumption during the Spring Festival period [7][8]. - The aviation sector anticipates a record passenger volume of 95 million during the 40-day Spring Festival travel period, representing a year-on-year increase of 5.3%. The number of flights planned by domestic airlines is expected to reach 657,000, also up by 5% [8]. - The domestic tourism market is experiencing diverse growth, with family travel becoming increasingly popular. The proportion of family travelers is expected to reach 39%, while the elderly demographic (aged 60 and above) will account for 19% of travelers [18][20]. - There is a notable increase in outbound travel demand, with booking volumes rising nearly 40% year-on-year. Southeast Asia is dominating international travel routes, capturing nearly 50% of outbound flights, while flights to Japan have decreased significantly [31][40]. Summary by Sections 1. Expansion of Aviation and Railway Capacity - The Spring Festival travel period will see a significant increase in passenger flow, with the aviation sector expecting 95 million passengers, and the railway sector projecting 539 million passengers, both reflecting a 5% increase year-on-year [8][16]. 2. Emergence of Diverse Customer Groups - Family travel is on the rise, with a notable increase in the average booking price for family accommodations, which is 9% higher than other types. The demand for larger, more private accommodations is also increasing, with a 77% year-on-year growth in bookings for standalone villas during the winter holiday [18][20]. 3. Restructuring of Destination Patterns - Outbound travel is seeing a shift, with Thailand regaining its position as the top destination. The demand for long-haul and differentiated travel experiences is becoming mainstream, with a significant increase in interest for destinations like Turkey and New Zealand [31][42]. 4. Investment Analysis Recommendations - The report suggests focusing on companies that can leverage the benefits of the extended holiday and the growth in inbound and long-haul outbound travel. Recommended sectors include tourism attractions, exhibition and sports events, human resources, hotels, and duty-free retail [43].

Investment Rating - The report maintains a "Buy" recommendation for the consumer services industry, particularly focusing on the upcoming Spring Festival consumption boost [1]. Core Insights - The report highlights that the Spring Festival consumption season is set to begin, with various local governments implementing consumption-boosting policies, which are expected to drive strong market performance [1][2]. - Three major highlights of the consumption promotion activities are identified: unprecedented subsidy levels directly reaching consumers, innovative consumption scenarios integrating various sectors, and the synergy between online and offline channels through digital empowerment [2][3]. Summary by Sections Industry Investment Rating - The consumer services industry is rated as "Recommended" with a focus on benefiting companies in dining, hotels, tourism, duty-free, and retail sectors due to the anticipated recovery in consumer enthusiasm [1][3]. Key Highlights of Consumption Promotion - Subsidies are at an all-time high, with local governments offering consumption vouchers and subsidies exceeding 100 million yuan in various provinces, which is expected to enhance consumer purchasing power [2]. - Innovative consumption scenarios are being developed, moving beyond traditional discounts to immersive experiences that combine culture, tourism, and sports, thereby revitalizing traditional service sectors [2]. - The integration of online and offline channels is becoming more pronounced, with e-commerce platforms actively participating in promotional activities, enhancing efficiency and broadening the consumption landscape [2]. Market Outlook - The report anticipates a robust recovery in the Spring Festival consumption market in 2026, with data potentially exceeding market expectations, laying a solid foundation for sustained consumer market recovery throughout the year [3].

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [13]. Core Insights - The report highlights the recent policy benefits in the service consumption sector, emphasizing the importance of optimizing and expanding service supply to foster new growth points in service consumption. The government's plan includes 12 measures across key and potential areas, aiming to enhance service quality and support economic development [1][3]. - The focus on supply-side structural reforms is expected to stimulate both short-term and long-term consumer demand, promoting a virtuous cycle of employment, income, and consumption, thereby providing long-term support for economic growth [3][7]. - Key areas of focus include transportation, domestic services, cultural tourism, and sports events, with potential areas such as performance services and experiential consumption also highlighted for their growth potential [3][7]. Summary by Relevant Sections Policy Support Areas - The report outlines three main policy support areas with twelve specific measures, including: 1. Transportation services aimed at integrating tourism and enhancing service quality [7]. 2. Domestic services focusing on innovation and skill training [7]. 3. Cultural tourism services that encourage infrastructure development and enhance consumer experiences [7]. Potential Growth Areas - The report identifies potential growth areas such as performance services, sports events, and experiential consumption, which are expected to drive demand in related sectors like accommodation and dining [3][7]. Financial and Structural Support - The report emphasizes the need for a robust support system, including the establishment of standards, credit building, and financial backing to ensure the stable development of service consumption [3][7].

| 序 | 开户银行 | 账户名称 | 账号 | | --- | --- | --- | --- | | 号 | | | | | 1 | 北京银行红星支行 | 北京国际人力资本集团 | 20000020274300207977049 | | | | 股份有限公司 | | 根据《上市公司募集资金监管规则》和《上海证券交易所上市公司自律监管 指引第 1 号——规范运作》的相关规定，上述账户将专用于暂时闲置募集资金 购买理财产品的结算，不会用于存放非募集资金或用作其他用途。公司将在产品 到期且无后续使用计划时及时注销以上账户。 二、风险控制措施 证券代码：600861 证券简称：北京人力 公告编号：临 2026-005 号 北京国际人力资本集团股份有限公司 关于开立募集资金现金管理专用结算账户的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 北京国际人力资本集团股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第十届董事会第十八次会议，审议通过了《关于公司使用部分闲置募 集资金进行现金管理及以协定存款方式存 ...

Group 1 - The core viewpoint of the article indicates that Beijing Human Resources (600861) has a small proportion of overseas business in its overall revenue [1] Group 2 - The company responded to investor inquiries on an interactive platform regarding its business operations [1] - The current overseas business revenue is not a significant contributor to the company's total income [1]

证券日报网讯 1月28日，北京人力在互动平台回答投资者提问时表示，经公司财务部门初步测算，公司 预计2025年年度实现归属于上市公司股东的净利润为105000.00万元到130000.00万元，较去年预计增加 25859.52万元到50859.52万元，具体情况详见《北京人力2025年年度业绩预增公告》（临2026-004 号）。 （文章来源：证券日报） ...

Group 1 - The meeting aimed to promote collaboration between enterprises under Beijing State Capital Operation Management Co., Ltd. and explore innovative models of fund investment and human capital services [2][3] - Shunxi Fund manages four government-guided funds focused on strategic emerging industries and high-precision industries in Beijing, aiming to empower industries with capital and enhance synergy for high-quality development [3] - Beijing International Human Capital Group, as a key component of Beijing State Capital, expressed confidence in developing a collaborative ecosystem and emphasized the importance of resource complementarity for future strategic cooperation [3] Group 2 - Both parties plan to establish a regular communication mechanism to gradually implement cooperation content, leveraging their professional advantages to develop high-value talent and capital solutions [3] - The collaboration will focus on high-end talent recruitment, management consulting, market activities, and digital technology to support Shunxi Fund comprehensively [3] - The partnership aims to provide new momentum for the implementation of Beijing State Capital's high-quality development strategy [3]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ●北京国际人力资本集团股份有限公司（以下简称"公司"）2025年年度的业绩预告适用于实现盈利，且 净利润与上年同期相比上升50%以上的情形。 ●经公司财务部门初步测算，公司预计2025年年度实现归属于上市公司股东的净利润为105,000.00万元 到130,000.00万元，预计增加25,859.52万元到50,859.52万元。公司预计2025年年度实现归属于上市公司 股东的扣除非经常性损益后的净利润为54,000.00万元到60,000.00万元，预计增加653.94万元到6,653.94 万元。 证券代码：600861 证券简称：北京人力 公告编号：临2026-004号 北京国际人力资本集团股份有限公司 2025年年度业绩预增公告 一、本期业绩预告情况 （一）业绩预告期间 2025年1月1日至2025年12月31日。 （二）业绩预告情况 1.经公司财务部门初步测算，公司预计2025年年度实现归属于上市公司股东的净利润为105,000.00万元 到130,00 ...

证券日报网讯1月27日，北京人力（600861）发布2025年年度业绩预增公告称，公司预计2025年年度归 属于上市公司股东的净利润为105，000.00万元到130，000.00万元，与上年同期(法定披露数据)相比， 预计增加25，859.52万元到50，859.52万元，同比增加32.68%到64.26%。 ...