Company Overview - Lucas GC Limited is an AI technology-driven Platform-as-a-Service (PaaS) company focusing on human capital management services [3][6] - The company is recognized as the largest AI technology-driven online agent-centric human capital management service provider in China based on the number of active users as of June 30, 2022 [6] Recent Achievements - Lucas GC Limited won The 2024 Cberi Prize for The Most Valuable Brand for Investment during the Asian Brand Economy Conference (ABEC) [3][4] - The award highlights the company's strong foundation in AI technology and its potential for forming beneficial partnerships in Asia [5] Market Position and Strategy - Lucas leverages its unique patented AI technology and has 638,000 active users to disrupt the human resources market [4] - The company aims to expand its footprint outside China, initially targeting emerging Asian countries [5] - Lucas provides a platform that supports trusted private social networks of professionals, offering services such as recruitment, outsourcing, IT services, and training [6] Conference Insights - The Asian Brand Economy Conference (ABEC) is a significant marketing event in Asia, focusing on brand building, digital marketing, and sustainable development [1] - The theme for the 2024 ABEC was "Innovation, Digital Integration, and Sustainable Development," reflecting current trends in the market [1]

Core Insights - Lucas GC Limited has been awarded The 2024 Cberi Prize for The Most Valuable Brand for Investment at the Asian Brand Economy Conference (ABEC) [1][2] - The conference, attended by over 500 participants from various Asian countries, focused on brand building, digital marketing, and sustainable development [2] - The company plans to expand its operations beyond China, targeting emerging Asian markets, leveraging its AI technology for partnerships [2][3] Company Overview - Lucas GC Limited is an AI technology-driven Platform-as-a-Service (PaaS) company specializing in human capital management services [1][4] - It is recognized as the largest AI technology-driven online agent-centric human capital management service provider in China, based on active users and total net revenues as of June 30, 2022 [4] - The company utilizes its patented AI technology and has 638,000 active users to enhance the human resources market by efficiently connecting job candidates with corporate clients [3][4] Strategic Focus - The company aims to digitalize and intellectualize the human capital management process through AI, data analytics, and blockchain technologies [4] - Lucas provides a platform that supports private social networks for professionals, offering services such as recruitment, outsourcing, IT services, and training [4]

Company Overview - Lucas GC Limited is an AI technology-driven Platform-as-a-Service (PaaS) company focusing on human capital management services [4] - It is the largest AI technology-driven online agent-centric human capital management service provider in China, based on the number of active users and total net revenues as of June 30, 2022, and December 31, 2021, respectively [4] - The company utilizes artificial intelligence, data analytics, and blockchain technologies to digitalize and intellectualize the human capital management process [4] Services Offered - Lucas provides a platform that supports trusted private social networks of professionals, offering services such as recruitment, outsourcing, information technology, and training [4] - The primary users of the platform are professionals in human resources-related functions, while corporate customers include companies with needs in recruitment, training, sales lead generation, and outsourcing [4] Upcoming Events - Lucas will participate in a webcasted presentation and host one-on-one meetings with investors at the Lytham Partners Spring 2024 Investor Conference on May 30, 2024 [1] - The webcasted presentation is scheduled for 9:30 a.m. ET and will be accessible via the conference home page or directly through a provided link [2] - Management will be available for virtual one-on-one meetings throughout the event, with arrangements possible through Lytham Partners [3]

Investment activities in the PRC by foreign investors are principally governed by the Guidance Catalogue of Industries for Foreign Investment, or the Negative List, promulgated and as amended from time to time by the Ministry of Commerce of the PRC, or MOFCOM, and NDRC. The NDRC and the MOFCOM promulgated the 2021 Negative List on December 27, 2021, which took effect on January 1, 2022 and uniformly set forth the ownership requirements, requirements for senior executives, and other special administrative me ...

[Press Release Overview](index=1&type=section&id=Press%20Release%20Overview) [Headline](index=1&type=section&id=Headline) Lucas GC Limited announced its fiscal year 2023 results, with revenue increasing by 92.3% to $208 million - Lucas GC Limited announced its fiscal year 2023 results, with revenue reaching **$208 million**, a **92.3% year-over-year increase**[10](index=10&type=chunk) [Date and Company Information](index=1&type=section&id=Date%20and%20Company%20Information) The press release was issued on April 29, 2024, in New York by AI-powered PaaS company Lucas GC Limited (Nasdaq: LGCL) - The press release was issued on **April 29, 2024**, by Lucas GC Limited (Nasdaq: LGCL) announcing its fiscal year 2023 financial results[6](index=6&type=chunk) - Lucas GC Limited is an **AI-powered PaaS company** currently focused on providing human capital management services[6](index=6&type=chunk) [About Lucas GC Limited](index=4&type=section&id=About%20Lucas%20GC%20Limited) [Company Profile](index=4&type=section&id=Company%20Profile) Lucas GC Limited is an AI-powered PaaS company specializing in human capital management services, recognized as China's largest AI-driven online agency center PaaS provider for professionals, leveraging AI, data analytics, and blockchain for digital and intelligent HCM processes, offering recruitment, outsourcing, and other services - Lucas GC Limited is an **AI-powered PaaS company** focused on providing human capital management services[2](index=2&type=chunk) - As of June 30, 2022, Lucas was China's largest AI-powered online agency center human capital management service provider for professionals, based on active users in the HR industry and total net revenue in 2021[2](index=2&type=chunk) - The company leverages **AI, data analytics, and blockchain technologies** to digitize and intellectualize human capital management processes, offering recruitment, outsourcing, IT services, and training services[2](index=2&type=chunk) [Fiscal Year 2023 Highlights](index=1&type=section&id=Fiscal%20Year%202023%20Highlights) [Operational Highlights](index=1&type=section&id=Operational%20Highlights) In 2023, Lucas GC Limited saw active registered users grow by 48% to 638,020 and enterprise clients increase to 582, pioneered generative AI content in recruitment by integrating LLMs with proprietary data, secured multiple AI-related patents, and successfully completed its IPO on Nasdaq in March 2024 - Active registered users increased by **48% year-over-year** to **638,020** in 2023[11](index=11&type=chunk) - Enterprise clients increased to **582** in 2023 from 391 in 2022[11](index=11&type=chunk) - Pioneered a transformative approach to generative AI content in recruitment services by combining **Large Language Models (LLMs)** with proprietary data[11](index=11&type=chunk) - Secured **two additional AI-related patents** in 2023 and one in 2024, bringing the total granted patents to **17**[11](index=11&type=chunk) - Successfully completed a **$6 million IPO** in March 2024 and commenced trading on Nasdaq[11](index=11&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) For fiscal year 2023, the company reported revenue of RMB 1.474 billion ($208 million), a 92.3% year-over-year increase; gross profit margin of 28.4%, up 32 basis points; and net income of RMB 78 million ($11 million), up 115% Key Financial Data for Fiscal Year 2023 | Metric | FY 2023 | FY 2022 | YoY Growth | |---|---|---|---| | Revenue | RMB 1.474 billion ($208 million) | - | 92.3% | | Gross Profit Margin | 28.4% | - | 32 bps | | Net Income | RMB 78 million ($11 million) | - | 115% | [Management Commentary](index=1&type=section&id=Management%20Commentary) [CEO Statement](index=1&type=section&id=CEO%20Statement) CEO Howard Lee highlighted the company's journey as a public entity post-IPO, its position as China's largest AI-driven human capital management provider, strong revenue growth of 92.3% in 2023 with an 86% CAGR since 2020, four consecutive years of profitability, 48% growth in active registered users, and plans for further expansion through organic growth and overseas acquisitions - CEO Howard Lee stated that the company has embarked on its journey as a public company following its successful IPO[12](index=12&type=chunk) - Lucas is China's largest AI-powered online agency center human capital management provider for professionals based on PaaS[12](index=12&type=chunk) - Total revenue increased by **92.3% in 2023**, primarily driven by growth in enterprise clients and active registered users, alongside China's post-pandemic recovery[13](index=13&type=chunk) - The company's revenue has achieved a **Compound Annual Growth Rate (CAGR) of approximately 86% since 2020**, and it has been profitable for the past four consecutive years[13](index=13&type=chunk) - Active registered users grew by **48% in 2023**, laying a foundation for strong future revenue growth in human resource services, IT outsourcing, and information services[13](index=13&type=chunk) - The company anticipates further growth expansion through **organic growth** and **value-added acquisitions outside of China**, aiming to create shareholder value[13](index=13&type=chunk) [Full Year 2023 Financial Results](index=2&type=section&id=Full%20Year%202023%20Financial%20Results) [Total Revenue](index=2&type=section&id=Total%20Revenue) For the fiscal year ended December 31, 2023, total revenue was RMB 1.474 billion ($208 million), a 92.3% increase from RMB 767 million in fiscal year 2022 Total Revenue | Metric | FY 2023 (RMB) | FY 2023 (USD) | FY 2022 (RMB) | YoY Growth | |---|---|---|---|---| | Total Revenue | 1.474 billion | 208 million | 767 million | 92.3% | [Revenue by Service Type](index=2&type=section&id=Revenue%20by%20Service%20Type) In fiscal year 2023, recruitment service revenue increased by 59.6% to RMB 659 million ($92.8 million), outsourcing service revenue grew by 136.5% to RMB 714 million ($100.6 million), and other service revenue rose by 95.5% to RMB 101 million ($14.2 million) Revenue by Service Type for Fiscal Year 2023 | Service Type | FY 2023 (RMB) | FY 2023 (USD) | YoY Growth | |---|---|---|---| | Recruitment Services | 659 million | 92.8 million | 59.6% | | Outsourcing Services | 714 million | 100.6 million | 136.5% | | Other Services | 101 million | 14.2 million | 95.5% | [Gross Profit Margin](index=2&type=section&id=Gross%20Profit%20Margin) The gross profit margin for fiscal year 2023 was 28.4%, up from 28.1% in fiscal year 2022, primarily driven by improved productivity and a more favorable product mix Gross Profit Margin | Metric | FY 2023 | FY 2022 | Change | |---|---|---|---| | Gross Profit Margin | 28.4% | 28.1% | Increased by 0.3 percentage points | - The increase in gross profit margin is attributed to **improved productivity** and a **more favorable product mix**[16](index=16&type=chunk) [Operating Expenses](index=2&type=section&id=Operating%20Expenses) Total operating expenses for fiscal year 2023 were RMB 351 million ($49.4 million), a 91.1% increase from RMB 184 million in 2022, with selling and marketing expenses up 51.7%, general and administrative expenses up 127.1%, and R&D expenses up 97.3% Total Operating Expenses | Metric | FY 2023 (RMB) | FY 2023 (USD) | FY 2022 (RMB) | YoY Growth | |---|---|---|---|---| | Total Operating Expenses | 351 million | 49.4 million | 184 million | 91.1% | [Selling and Marketing Expenses](index=2&type=section&id=Selling%20and%20Marketing%20Expenses) - Selling and marketing expenses increased by **51.7%** from 2022, primarily due to continued investment in branding activities for proprietary platforms Star Career and Columbus to drive new user growth and customer lead generation[17](index=17&type=chunk) [General and Administrative Expenses](index=2&type=section&id=General%20and%20Administrative%20Expenses) - General and administrative expenses increased by **127.1%** from 2022, mainly due to increased user support operational costs from a larger user base, higher expenses for inviting industry experts to maintain user engagement, and increased professional service fees related to IPO activities[18](index=18&type=chunk) [Research and Development Expenses](index=2&type=section&id=Research%20and%20Development%20Expenses) - Research and development expenses increased by **97.3%** from 2022, primarily due to continuous investment in **AI-powered technologies**, including generative pre-trained Transformers and related AI-generated content technologies, as well as investments in proprietary platforms Star Career and Columbus, which provide advantages in business expansion and market competition[19](index=19&type=chunk) [Net Income and EPS](index=3&type=section&id=Net%20Income%20and%20EPS) Net income for fiscal year 2023 was RMB 78.2 million ($11 million), a 115% increase from RMB 36.4 million in 2022, with earnings per share at $0.14, up 133.7% Net Income | Metric | FY 2023 (RMB) | FY 2023 (USD) | FY 2022 (RMB) | YoY Growth | |---|---|---|---|---| | Net Income | 78.2 million | 11 million | 36.4 million | 115% | Earnings Per Share | Metric | FY 2023 (USD) | FY 2022 (USD) | YoY Growth | |---|---|---|---| | EPS | 0.14 | - | 133.7% | [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) [Adjusted EBITDA](index=3&type=section&id=Adjusted%20EBITDA) The company provides Adjusted EBITDA as a non-GAAP financial measure for internal period-over-period comparison and analysis of operational performance and liquidity, considering it supplementary for investors to analyze, trend, and benchmark business performance and value, while noting it is not a substitute for GAAP metrics and may differ from non-GAAP measures used by other companies - The company provides **Adjusted EBITDA** as a non-GAAP financial measure[1](index=1&type=chunk) - This metric is used internally to facilitate period-over-period comparisons and analysis of operational performance and liquidity, and is considered useful for investors to analyze, trend, and benchmark business performance and value[1](index=1&type=chunk) - This measure is not intended to be a substitute for GAAP-reported metrics and may differ from non-GAAP measures used by other companies[1](index=1&type=chunk) [Conference Call Details](index=3&type=section&id=Conference%20Call%20Details) [Call Information](index=3&type=section&id=Call%20Information) The conference call was held on April 29, 2024, at 4:30 PM ET, offering both dial-in and webcast participation, with a replay available until May 6, 2024 - The conference call was held on **Monday, April 29, 2024, at 4:30 PM Eastern Time**[22](index=22&type=chunk) - Participants could access the conference call by dialing **(844) 836-8745** or **(412) 317-6797**[22](index=22&type=chunk) - A live webcast was available on the company's investor relations website at **https://ir.lucasgc.com/** or **https://app.webinar.net/mDz45GVdeZl**[23](index=23&type=chunk) - A replay of the conference call will be available until **May 6, 2024**, with replay access code **9832113**[24](index=24&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) [Disclaimer](index=4&type=section&id=Disclaimer) Statements in the press release regarding future expectations, plans, and prospects constitute "forward-looking statements," where actual results may differ materially due to various important factors, including market uncertainties, and the company disclaims any obligation to update such statements - Statements in the press release regarding future expectations, plans, and prospects may constitute "**forward-looking statements**"[3](index=3&type=chunk) - Actual results may differ materially from those indicated by forward-looking statements due to various important factors, including market uncertainties[3](index=3&type=chunk) - The company explicitly disclaims any obligation to update any forward-looking statements[3](index=3&type=chunk) [Investor Contact](index=4&type=section&id=Investor%20Contact) [Contact Information](index=4&type=section&id=Contact%20Information) Investors can contact Ben Shamsian, Vice President at Lytham Partners, LLC, for further information - Investors may contact **Ben Shamsian, Vice President at Lytham Partners, LLC**[4](index=4&type=chunk)

NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- Lucas GC Limited (NASDAQ:LGCL) ("Lucas" or the "Company"), an artificial intelligence (the "AI") technology-driven Platform-as-a-Service (the "PaaS") company currently focusing on offering human capital management services, today announced its financial results for fiscal year of 2023. Full Year 2023 Financial Highlights Revenues of RMB1,474 million (US$208 million), representing a 92.3% increase versus 2022.Gross margin of 28.4%, representing a 32bps increase ve ...

NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- Lucas GC Limited (NASDAQ:LGCL) ("Lucas" or the "Company"), an artificial intelligence (the "AI") technology-driven Platform-as-a-Service (the "PaaS") company currently focusing on offering human capital management services, announced that it will report financial results for the fiscal year ended December 31, 2023, later today, Monday, April 29, 2024, after the market closes. The Company has scheduled a conference call on the same day, Monday, April 29, 2024, at  ...

NEW YORK, March 7, 2024 /PRNewswire/ -- Lucas GC Limited (NASDAQ: LGCL) (the "Company" or "Lucas"), an artificial intelligence (AI) technology-driven online agent-centric human capital management service provider focused initially on targeting professionals based on Platform-as-a-Service, or PaaS, in the human resources industry, today announced the closing of its initial public offering (the "Offering") of 1,500,000 ordinary shares (the "Ordinary Shares") at a public offering price of $4.00 per share for t ...