证券代码：300662 证券简称：科锐国际 公告编号：2025-022 北京科锐国际人力资源股份有限公司 关于使用暂时闲置自有资金进行现金管理的更正公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 北京科锐国际人力资源股份有限公司（以下简称"公司"）于2025年4月26 日在巨潮资讯网披露了《关于使用暂时闲置自有资金进行现金管理的公告》（公 告编号：2025-012），因工作人员失误，现将有关内容更正如下： 更正前： 北京科锐国际人力资源股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第四届董事会第八次会议、第四届监事会第八次会议，审议通过了《关 于使用暂时闲置自有资金进行现金管理的议案》，同意公司及全资子公司、控股 子公司在不影响公司正常经营的前提下，在不超过人民币 10 亿元额度内，使用 公司及全资子公司、控股子公司闲置自有资金择机购买保本、低风险的现金管理 类理财产品，在董事会审议通过之日起 12 个月内，资金可在上述额度内滚动使 用并授权公司董事长在上述投资额度内签署相关合同文件，公司财务负责人负责 组织实施。 本次现金管理事 ...

证券代码：300662 证券简称：科锐国际 公告编号：2025-024 北京科锐国际人力资源股份有限公司 关于使用暂时闲置自有资金进行现金管理的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 北京科锐国际人力资源股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第四届董事会第八次会议、第四届监事会第八次会议，审议通过了《关 于使用暂时闲置自有资金进行现金管理的议案》，同意公司及全资子公司、控股 子公司在不影响公司正常经营的前提下，在不超过人民币 10 亿元额度内，使用 公司及全资子公司、控股子公司闲置自有资金择机购买保本、低风险的现金管理 类理财产品，在股东会审议通过之日起 12 个月内，资金可在上述额度内滚动使 用并授权公司董事长在上述投资额度内签署相关合同文件，公司财务负责人负责 组织实施。 本次现金管理事项不构成关联交易，亦不构成《上市公司重大资产重组管理 办法》规定的重大资产重组。本次现金管理事项尚需提请股东会审议。具体情况 如下： 一、现金管理概述 （一）投资目的 在不影响正常经营及风险可控的前提下，使用暂时闲置的自有资金进 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5][26][27] Core Views - The company is expected to significantly improve operational efficiency in 2024, with a good start in 2025. The revenue for 2024 is projected to be 11.788 billion yuan, representing a 20.5% increase year-on-year, while the net profit attributable to shareholders is expected to be 205 million yuan, a 2.4% increase [1][2][8] - The flexible employment business is maintaining high turnover efficiency, and the headhunting business is showing a continued improvement in performance [1][13] - The company is actively developing AI systems to enhance efficiency, with a dividend payout ratio increased to 15.3% in 2024 [2][25] Summary by Sections Financial Performance - In Q4 2024, the company achieved a revenue of 3.272 billion yuan, a 25.4% increase year-on-year, and a net profit of 70 million yuan, a 44.3% increase [1][8] - For Q1 2025, the company reported a revenue of 3.303 billion yuan, a 25.1% increase, and a net profit of 58 million yuan, a 42.2% increase, exceeding expectations [2][24] Business Segments - The flexible employment segment generated revenue of 11.136 billion yuan in 2024, a 22.4% increase, while the headhunting segment saw a decline in revenue to 375 million yuan, an 11.6% decrease [13][14] - The company’s domestic revenue reached 9.49 billion yuan, a 28.7% increase, while overseas revenue was 2.3 billion yuan, a 4.39% decrease [13] Cost and Profitability - The gross margin for 2024 was 6.4%, down 1.0 percentage points, primarily due to the increased proportion of low-margin flexible employment business [2][18] - The net profit margin for 2024 was 1.7%, a decrease of 0.3 percentage points [2][18] Future Outlook - The company has raised its net profit forecasts for 2025 and 2026 to 284 million yuan and 339 million yuan, respectively, with a projected compound annual growth rate (CAGR) of approximately 24% over the next three years [3][26] - The company is expected to return to a rapid growth trajectory in 2025, supported by internal efficiency improvements and AI-driven business transformations [3][26]

Group 1 - The core viewpoint emphasizes the importance of finding certainty amid uncertainty, which is both stimulating and meaningful [1] - The company, Beijing Keri International Human Resources Co., Ltd., is focused on helping Chinese enterprises establish core teams overseas, addressing the dual demand gap between Chinese companies and international talent [5] - The company successfully conducted a four-month talent search for a Chinese co-founder with expertise in nuclear drug development, showcasing its ability to navigate complex recruitment challenges [4] Group 2 - Cultural differences pose significant challenges in the recruitment process, as Chinese companies prefer quick hiring while foreign executives often require lengthy legal and tax consultations [6][7] - The company acts as a "cultural translator," facilitating communication and understanding between Chinese enterprises and foreign executives to resolve misunderstandings and improve negotiation outcomes [8] - The trend of globalization is driving Chinese companies to expand overseas, necessitating a deeper understanding of diverse cultures and the ability to adapt to various uncertainties [8]

Core Insights - The company, Beijing Keri International Human Resources Co., Ltd., achieved revenue and net profit growth in its 2024 annual report, but experienced a significant decline in net cash flow from operating activities [1][12]. Financial Performance - The company reported total revenue of 11,787,660,144.16 yuan, a 20.55% increase from 9,778,499,802.73 yuan in the previous year [2]. - The flexible employment business generated 11,136,854,475.11 yuan, accounting for 94.48% of total revenue, with a year-on-year growth of 22.42% [2]. - Net profit attributable to shareholders was 205,349,967.12 yuan, up 2.42% from 200,501,198.39 yuan [3]. - Basic earnings per share increased to 1.0434 yuan, a 2.33% rise from 1.0196 yuan [4]. Expense Analysis - Sales expenses decreased by 8.97% to 166,139,351.69 yuan, reflecting a strategic reduction in market investment [5]. - Management expenses rose by 8.42% to 277,039,614.96 yuan, driven by increased personnel costs and stock issuance [6]. - Financial expenses surged by 124,118.18% to 28,427,528.20 yuan due to new long-term borrowings and reduced interest income from deposits [7]. Research and Development - R&D expenses remained stable at 41,280,794.03 yuan, with a focus on digital product development and internal information systems [8]. - The number of R&D personnel decreased by 21.67% from 323 to 253, which may impact innovation capabilities [10]. - Capitalized R&D expenditures accounted for 75.20% of total R&D investment, indicating strong project conversion capabilities [11]. Cash Flow Insights - Net cash flow from operating activities fell by 32.40% to 118,299,677.73 yuan, attributed to increased business pre-financing [12]. - Investment cash inflows rose by 37.08% to 29,977,821.37 yuan, while outflows decreased by 14.74% to 96,611,675.46 yuan [13]. - Financing cash inflows increased by 61.09% to 6,976,156,878.50 yuan, with outflows rising by 53.33% to 7,251,891,099.42 yuan [14].

Key Points - The core viewpoint of the articles highlights the financial performance and stock trading activities of Keri International, indicating a positive trend in revenue and net profit growth for 2024, alongside notable changes in shareholder structure and trading dynamics [1][2][3] Trading Information Summary - On April 25, Keri International's stock closed at 34.06 yuan, up 5.45%, with a turnover rate of 2.83%, trading volume of 55,500 shares, and a transaction value of 188 million yuan [1] - The capital flow on the same day showed a net inflow of 18.22 million yuan from institutional investors, while retail investors experienced a net outflow of 15.77 million yuan [1] Shareholder Structure Changes - As of April 18, 2025, the number of shareholders in Keri International decreased to 8,982, a reduction of 156 shareholders or 1.71% compared to April 10 [1][3] - The average number of shares held per shareholder increased from 21,500 to 21,900 shares, with the average market value of holdings reaching 682,300 yuan [1] Financial Performance Highlights - Keri International's 2024 annual report indicates a total revenue of 11.788 billion yuan, representing a year-on-year increase of 20.55% [2][3] - The net profit attributable to shareholders was 205 million yuan, up 2.42% year-on-year, while the net profit excluding non-recurring items was 139 million yuan, reflecting a 3.57% increase [2] - In Q4 2024, the company reported a quarterly revenue of 3.272 billion yuan, a 25.44% increase year-on-year, and a net profit of 70.1 million yuan, which is a 44.25% increase compared to the same quarter last year [2][3]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price based on the last closing price of 34.06 [1][15]. Core Insights - The company achieved a total revenue of 11.788 billion yuan in 2024, representing a year-on-year growth of 20.55%. The net profit attributable to shareholders was 205 million yuan, up 2.42% year-on-year [4][9]. - In Q1 2025, the company reported a revenue of 3.303 billion yuan, a year-on-year increase of 25.13%, and a significant net profit growth of 42.15% [4][5]. - The flexible employment business remains the core driver of revenue growth, with the number of outsourced positions increasing to 47,400 by the end of March 2025, contributing to a revenue growth rate of 22.42% in this segment [5][6]. Financial Performance - The company's total assets reached 4.025 billion yuan at the end of 2024, a 7.37% increase from the beginning of the year. The equity attributable to shareholders was 2.055 billion yuan, up 10.93% [4][6]. - The gross margin for 2024 was 6.36%, a decrease of 0.95 percentage points year-on-year, primarily due to the rapid expansion of lower-margin businesses [6][8]. - The net profit margin for 2024 was 1.74%, down 0.31 percentage points year-on-year, but the company effectively controlled various expense ratios [6][8]. Business Strategy - The company focuses on structural demand in the recruitment market, leveraging technological innovation and industry integration, particularly in high-end manufacturing, artificial intelligence, and digitalization [7][8]. - The report emphasizes the integration of platform products and the enhancement of AI-driven recruitment matching systems to improve operational efficiency [8][9]. - The company is expected to achieve net profits of 271 million yuan, 336 million yuan, and 395 million yuan for 2025, 2026, and 2027, respectively, with corresponding growth rates of 31.99%, 24.03%, and 17.42% [8][9].

Core Insights - The company reported a revenue of 11.79 billion in 2024, representing a year-on-year increase of 20.55%, with a net profit attributable to shareholders of 205 million, up 2.42% year-on-year [1] - In Q1 2025, the company achieved a revenue of 3.303 billion, marking a 25.1% year-on-year growth, with a net profit of 57.78 million [1] - The increase in revenue and net profit in Q4 2024 and Q1 2025 is attributed to increased government subsidies and improved operational performance [1] Revenue Growth - The flexible employment segment generated 11.14 billion in 2024, a 22.4% increase year-on-year, while the mid-to-high-end talent search revenue decreased by 11.6% to 375 million [2] - The number of flexible employment placements reached 500,000, a 30% increase from the previous year, with IT R&D positions being the main growth driver [2] - By the end of 2024, the company had over 45,500 outsourced employees in flexible employment, a 28.16% increase year-on-year, with technical R&D positions making up 68.2% of the total [2] AI and Digital Transformation - In Q1 2025, the company placed 145,700 flexible workers, with over 47,400 outsourced employees, a 31% year-on-year increase, and technical R&D positions reaching a new high of 68.3% [2] - The company is accelerating the application of AI technology and digital transformation, enhancing delivery efficiency and management effectiveness [2] - The interconnectivity platform "He Wa" delivered 15,000 positions, a 120% year-on-year increase [2] Profit Forecast and Investment Rating - The trend of industrial upgrading is driving a structural recovery in the domestic recruitment market, leading to accelerated revenue growth for the company [3] - The net profit forecast for 2025-2026 has been raised to 268 million and 317 million respectively, with a new forecast for 2027 at 355 million [3] - The latest closing price corresponds to a price-to-earnings ratio of 25, 21, and 19 for 2025-2027, maintaining a "buy" rating [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant revenue growth, with a 20.55% year-on-year increase in 2024 revenue, reaching 11.79 billion yuan, and a slight increase in net profit by 2.42% to 205.35 million yuan [7] - The flexible employment model has driven revenue acceleration, with a 22.4% increase in this segment, while traditional recruitment services have seen a decline [7] - The integration of AI technology is expected to enhance operational efficiency and broaden business opportunities, with a notable increase in the number of outsourced positions in technical roles [7] Financial Performance Summary - Total revenue projections for the company are as follows: 2023A: 9.779 billion yuan, 2024A: 11.788 billion yuan, 2025E: 13.965 billion yuan, 2026E: 16.055 billion yuan, and 2027E: 18.299 billion yuan, with respective growth rates of 7.55%, 20.55%, 18.47%, 14.96%, and 13.98% [1] - Net profit forecasts indicate a recovery, with 2024A at 205.35 million yuan, 2025E at 268.04 million yuan, 2026E at 316.53 million yuan, and 2027E at 355.41 million yuan, reflecting growth rates of -31.05%, 2.42%, 30.53%, 18.09%, and 12.29% [1] - The latest diluted EPS is projected to be 1.04 yuan for 2024, increasing to 1.81 yuan by 2027, with corresponding P/E ratios decreasing from 32.64 to 18.86 over the same period [1] Business Segment Analysis - The flexible employment segment generated 111.4 billion yuan in 2024, with a 22.4% year-on-year increase, while mid-to-high-end talent search revenue decreased by 11.6% to 3.75 billion yuan [7] - The number of outsourced employees in flexible employment reached over 50,000, a 30% increase from the previous year, with a significant focus on IT development roles [7] - The company has accelerated the application of AI technology, leading to a 120% year-on-year increase in job placements through its digital platform [7]

Core Points - The company has implemented a comprehensive "technology + service + platform" ecosystem model, enhancing its digital infrastructure and developing various recruitment platforms and SaaS products to provide professional human resource services [5][11]. - The company has a diverse range of services including high-end talent search, recruitment process outsourcing, flexible employment, and technical services, catering to both traditional and emerging industries [6][8][10][11]. - The company has approved a profit distribution plan, distributing cash dividends of 0.80 RMB per 10 shares, totaling approximately 15.74 million RMB [16]. Company Overview - The company is focused on providing a complete solution for human resource services, integrating online platforms with offline services and coordinating domestic and international operations [5]. - The high-end talent search service targets mid to senior-level professionals across various industries, ensuring efficient recruitment processes [6][7]. - Recruitment process outsourcing is tailored for companies with large-scale hiring needs, allowing them to outsource their recruitment processes to improve efficiency and reduce costs [8][9]. Financial and Governance Highlights - The company has received a standard unqualified audit opinion from its accounting firm, indicating sound financial practices [3]. - The company has approved a stock incentive plan, granting 4.0726 million restricted stocks at a price of 15.66 RMB per share to eligible participants [15]. - The company has confirmed that there are no significant discrepancies in its financial indicators compared to previously disclosed reports [14].