智通财经APP获悉，周四，纳斯达克中国金龙指数涨逾1%，热门中概股走高，小鹏汽车(XPEV.US)涨逾 9%，名创优品(MNSO.US)涨逾8%，蔚来(NIO.US)、BOSS直聘(BZ.US)涨逾7%，途牛(TOUR.US)涨逾 5%，老虎证券(TIGR.US)涨近5%。 ...

BOSS直聘今日宣布，自2025年8月20日起，陈旭已获委任为公司总裁。该新职位是公司为优化治理结构 和提升组织效率而设立，将向公司创始人、董事长兼首席执行官赵鹏先生汇报工作。鉴于陈旭担任总裁 的新职务，自2025年8月20日起，陈旭已不再担任首席营销官。陈旭将继续担任执行董事。 智通财经APP获悉，周四，BOSS直聘(BZ.US)涨逾7%，报23.68美元。财报显示，2025年第二季度， BOSS直聘实现营收21.02亿元，较2024年同期增长9.7%。创始人、董事长兼CEO赵鹏在财报会议中表 示，二季度招聘市场需求呈现回暖趋势，且外部竞争环境对招聘业务的影响有限。 ...

Core Insights - Boss Zhipin (BZ.US) shares rose over 7%, reaching a high of $22.21, the highest since February 2023 [1] Financial Performance - For the mid-term results of 2025, Boss Zhipin reported total revenue of 4.026 billion yuan, an increase of 11.19% year-on-year [1] - The net profit attributable to shareholders was 1.235 billion yuan, reflecting an increase of 85.17% year-on-year [1] Dividend and Share Buyback - The board approved an annual dividend policy, setting the dividend amount for this year at approximately $80 million [1] - The existing share buyback plan has been extended by 12 months until the end of August 2026, with a maximum buyback amount increased to $250 million from the previous $150 million [1] Analyst Ratings and Price Targets - Citigroup raised its earnings forecasts for Boss Zhipin for 2025 to 2027 by 5%, 4%, and 3% respectively, and increased the target price from $21 to $26, maintaining a "Buy" rating [1] - Jefferies also raised its target price from $20 to $24, while maintaining a "Buy" rating [1]

证券研究报告 | 公司点评报告 2025 年 08 月 21 日 BOSS 直聘（BZ.O） 费用优化提速利润释放，业绩表现超市场预期 消费品/商业 8 月 20 日，BOSS 直聘发布 25Q2 业绩，公司 2025Q2 实现营收 21.0 亿元 /+9.7%，经调整归母净利润 9.5 亿元/+30.8%，整体收入与指引基本一致，符合 市场预期，业绩表现超市场预期；25Q2 公司用户维持强劲增长， MAU（平均 月活跃用户）为 6360 万人/+16.5%，过去 12 个月付费企业客户总数为 650 万 /+10.2%。考虑到 25Q2 以来国内招聘行业需求稳步复苏，蓝领/制造业招聘 5 月以来边际回暖，小微企业加速恢复，叠加公司持续推进成本管控和降本增效， 看好 Q3 公司收入及业绩继续保持同比增长，我们小幅上调全年利润预期，维 持"强烈推荐"评级。 % 1m 6m 12m 绝对表现 16.9 43.4 58.5 相对表现 13.3 33.4 15.7 资料来源：公司数据、招商证券 -40 -20 0 20 40 60 Aug-24 Dec-24 Apr-25 % BOSS直聘 MSCI中国(美元) 相关 ...

Financial Performance - As of June 30, 2025, BOSS Zhipin reported total revenue of 4.026 billion RMB, representing a year-on-year growth of 11.19% [1] - The company's net profit attributable to shareholders reached 1.235 billion RMB, showing a significant year-on-year increase of 85.17% [1] Market Activity - On August 21, BOSS Zhipin's stock opened with a rise of 5.21%, trading at $23.23 per share, with a total transaction volume of $6.7785 million and a market capitalization of $11.1 billion [1] Analyst Ratings - On August 21, BOSS Zhipin received a "Buy" rating from CMB International, with the target price raised to $25.5 [1] Company Overview - Founded in 2014, BOSS Zhipin is currently the largest online recruitment platform in China by average monthly active users (MAU) [2] - The company introduced a disruptive "direct hiring" model in the online recruitment industry, facilitating instant communication between employers and job seekers through its mobile-native application [2] - BOSS Zhipin's operational philosophy emphasizes respect for job seekers and providing them with greater autonomy during the job search process [2] - The company aims to enhance user experience by offering efficient, direct, and convenient services throughout the recruitment cycle [2] - BOSS Zhipin's unique model, strong technological capabilities, and vast data accumulation create sustainable barriers in the industry, paving the way for further scalable growth [2]

⑤ 【Meta冻结AI岗位招聘】当地时间8月20日，据媒体报道，在招聘了50多名研究人员和工程师后， Meta已暂停其AI部门的招聘。摩根士丹利分析师在8月18日的一份研究报告中警告称，Meta和谷歌为吸 引AI人才而提供的快速上涨的股票薪酬，可能会威胁到他们通过回购股票向股东返还资本的能力。截 至发稿，Meta下跌0.21%。 ⑥ 【诺和诺德冻结非关键职位招聘】当地时间8月20日，诺和诺德表示，已对全球范围内的非关键职位 实施招聘冻结。据媒体报道，为节约成本，诺和诺德还将在未来考虑裁员。截至发稿，诺和诺德上涨 0.24%。 ⑦ 【美国达美航空一客机飞行中机翼受损】 据CCTV国际时讯报道，近日，达美航空一架波音737型客 机从美国奥兰多国际机场飞往奥斯汀—伯格斯特龙国际机场。机上乘客拍摄的视频显示，客机在飞行过 程中，飞机左翼"和机身出现分离"。达美航空随后确认这架客机出现机翼受损，目前已被停飞并进行维 修。据悉，机上载有62名乘客和6名机组人员，所幸无人受伤。美国联邦航空局正在对该起事件进行调 查。截至发稿，达美航空下跌0.08%，波音下跌0.27%。 ⑧ 【强生公司将在美投资20亿美元以应对药品关税】当 ...

Core Viewpoint - Boss Zhipin (BZ.US) shows strong performance with a pre-market increase of over 3.2%, reaching $22.8, following a previous day increase of approximately 4.8% [1] Financial Performance - For the mid-year 2025, Boss Zhipin reported total revenue of 4.026 billion yuan, a year-on-year increase of 11.19% [1] - The net profit attributable to shareholders reached 1.235 billion yuan, reflecting a significant year-on-year increase of 85.17% [1] - The average monthly active users reached 60.6 million, up 19.8% from 50.6 million in the same period of 2024 [1] Dividend and Share Buyback - The board approved an annual dividend policy, setting the dividend amount for this year at approximately $80 million [1] - The existing share buyback plan has been extended by 12 months until the end of August 2026, with a maximum buyback amount increased to $250 million from the previous $150 million [1] Analyst Ratings - Citigroup published a research report indicating that Boss Zhipin's Q2 performance was robust, with revenue and profit exceeding expectations [1] - The firm raised its earnings forecasts for 2025 to 2027 by 5%, 4%, and 3% respectively, and increased the target price for the stock from $21 to $26, maintaining a "Buy" rating [1]

新浪科技讯 8月21日下午消息，BOSS直聘今日宣布，自2025年8月20日起，陈旭已获委任为公司总裁。 该新职位是公司为优化治理结构和提升组织效率而设立，将向公司创始人、董事长兼首席执行官赵鹏先 生汇报工作。 鉴于陈旭担任总裁的新职务，自2025年8月20日起，陈旭已不再担任首席营销官。陈旭将继续担任执行 董事。 资料显示，陈旭，49岁，自2018年2月起至2025年8月担任首席营销官，在此期间彼负责集团的营销、平 台运营及公共关系职能。彼自2021年5月起担任boss直聘的董事，并自2022年12月16日获重新委任为执 行董事。 陈旭于大中华区拥有超过24年的市场营销经验。加入boss直聘之前，陈旭于2015年11月至2016年11月在 中国电子商务公司酒仙网担任副总裁。陈旭在北京物资学院获得学士学位。 董梦媛女士已辞任独立非执行董事、审计委员会主席、薪酬委员会成员及企业管治委员会成员。刘虹瑜 女士获委任为审计委员会主席及企业管治委员会成员。李延已获委任为薪酬委员会成员。 责任编辑：何俊熹 ...

Group 1: Fixed Income Market Insights - The fixed income market is experiencing a weak sentiment, with a preference for short to medium-term credit instruments as the stock market remains strong since June, leading to adjustments in the bond market [2][4] - Recommendations include focusing on city investment bonds with maturities of three years or less, high-quality city rural commercial bank bonds, and high-grade central state-owned enterprise real estate bonds with maturities of one year or less [2][4] - The bond curve is expected to remain steep, and investors are advised to avoid ultra-long-term bonds and credit ETF securities [2] Group 2: Transportation Sector Recovery - The transportation sector is entering a recovery phase, with expectations of a seasonal increase in demand as the peak season approaches [6] - The industry has seen a slowdown in volume growth, with retail sales and express delivery volumes showing year-on-year increases of 4.0%, 8.3%, and 15.1% respectively [6] - Recommendations include focusing on the e-commerce express delivery sector and leading international logistics companies like SF Express [6] Group 3: Beverage Industry Outlook - The liquor sector is showing signs of stabilization, with government policies aimed at boosting domestic demand providing support [6] - Major liquor companies are focusing on maintaining investor interests through long-term and interim dividend plans, with current dividend yields for leading brands exceeding 3.5% [6] - The sector is expected to enter a phase of healthy recovery, with strong fundamentals among leading companies [6] Group 4: AI and Technology Sector - The AI technology revolution is anticipated to drive corporate profit growth, providing a counterbalance to macroeconomic uncertainties [4] - Industrial Fulian's stock has surged approximately 69% since mid-July, reflecting renewed market interest in its growth potential within the AI industry [14] - The report emphasizes the importance of understanding the investment ceiling for AI computing power and the potential for significant growth in the sector [14] Group 5: Logistics and Delivery Sector - The logistics sector is expected to benefit from a price recovery due to the "anti-involution" policy, which aims to improve service quality and profitability [30] - ZTO Express reported a revenue increase of 9.8% year-on-year, although net profits declined due to intense price competition [30] - The outlook for the second half of the year remains positive, with expectations of improved profitability as the industry adjusts pricing strategies [30] Group 6: Insurance Sector Performance - Zhong An Insurance reported a significant increase in net profit for the first half of 2025, driven by strong growth in underwriting profits across various business lines [19] - The company’s overall performance reflects improvements in both insurance and investment segments, with a notable turnaround in its banking operations [19] - The report maintains a "buy" rating based on the positive trends across multiple business areas [19] Group 7: Power Generation Sector - Guiguan Electric's performance is in line with expectations, with a forecast for increased hydropower generation in the upcoming quarter due to favorable water conditions [26] - The company reported a revenue decline of 13.99% year-on-year, but net profits showed resilience [26] - The report suggests maintaining a "buy" rating based on anticipated growth in hydropower output [26] Group 8: E-commerce and Retail Sector - Salted Fish Shop's revenue and net profit for the first half of 2025 exceeded market expectations, driven by strong performance in its membership and retail channels [13] - The company reported a year-on-year revenue increase of 19.6%, with significant growth in its snack and retail segments [13] - The report highlights the importance of channel and product category growth in sustaining performance [13]

Core Insights - BOSS Zhipin-W (02076) saw a stock price increase of over 5%, closing at HKD 86.15 with a trading volume of HKD 9.8849 million [1] Financial Performance - For the first half of 2025, BOSS Zhipin reported total revenue of RMB 4.026 billion, a year-on-year increase of 11.19% [1] - The net profit attributable to shareholders reached RMB 1.235 billion, reflecting a significant year-on-year increase of 85.17% [1] - Revenue from online recruitment services for corporate clients increased from RMB 3.577 billion in the same period of 2024 to RMB 3.979 billion, marking an increase of 11.2% [1] - Other services revenue, primarily from paid value-added services to job seekers, rose from RMB 43.7 million in 2024 to RMB 46.7 million, a growth of 6.9% [1] User Engagement - The average monthly active users reached 60.6 million, a 19.8% increase compared to 50.6 million in the same period of 2024 [1] - The average daily active users to monthly active users ratio stood at 25.0% for the six months ending June 30, 2025 [1] Shareholder Returns - The board approved an annual dividend policy, with the dividend amount set at approximately USD 80 million for the year [1] - A share repurchase plan of up to USD 250 million was also announced [1]