Financial Performance - Revenue for the year ended December 31, 2024, reached RMB 7,355,677 thousand, representing a 23.6% increase from RMB 5,952,028 thousand in 2023[8] - Operating profit for 2024 was RMB 1,172,946 thousand, a significant increase of 101.9% compared to RMB 580,971 thousand in 2023[8] - The adjusted net profit for 2024 was RMB 2,710,711 thousand, reflecting a 25.7% growth from RMB 2,156,185 thousand in 2023[8] - The pre-tax profit for 2024 was RMB 1,832,660 thousand, a 50.0% increase from RMB 1,221,789 thousand in 2023[8] - The company reported a net profit increase of 42.5% from RMB 1,099.2 million in 2023 to RMB 1,567.0 million in 2024[26] - The adjusted operating profit margin reached a historical high of 31.5% due to strong operational leverage and improved marketing and operational efficiency[26] User Engagement - The average monthly active users reached 53.0 million in 2024, up 25.3% from 42.3 million in 2023[12] - The average daily active users as a percentage of monthly active users reached 24.8% in 2024[12] Cost and Expenses - Operating costs increased by 17.0% from RMB 1,059.9 million in 2023 to RMB 1,239.7 million in 2024, mainly due to rising server and bandwidth costs[30] - Marketing expenses increased by 4.1% from RMB 1,991.2 million in 2023 to RMB 2,073.1 million in 2024, primarily due to increased employee-related costs, partially offset by a decrease in advertising and marketing expenses[31] - R&D expenses rose by 17.6% from RMB 1,543.6 million in 2023 to RMB 1,815.8 million in 2024, mainly due to increased technology investments[32] - General and administrative expenses increased by 34.7% from RMB 811.8 million in 2023 to RMB 1,093.9 million in 2024, primarily due to increased employee-related costs[33] Strategic Initiatives - The company plans to continue focusing on user growth and service innovation to enhance monetization capabilities in 2024[24] - The company aims to accelerate the application of AI technology in its products and services, particularly in enhancing job matching efficiency[25] - The company is exploring AI's value in enhancing operational efficiency and user experience, including AI resume polishing and interview simulation features[13] - The company has enhanced its blue-collar service capabilities, leading to significant growth in the manufacturing sector[12] Shareholder and Capital Management - The company has launched a new share repurchase plan, allowing for the repurchase of up to USD 150 million in shares over the next 12 months, reflecting confidence in future growth[23] - As of December 31, 2024, the total cash and cash equivalents, short-term deposits, and short-term investments amounted to RMB 14.7 billion, with a net cash flow from operating activities of RMB 3.5 billion for 2024[37] - The company had no interest-bearing bank loans or other borrowings as of December 31, 2024, resulting in a debt-to-equity ratio of zero[45] Corporate Governance - The board of directors includes five executive directors, with Mr. Zhao serving as the CEO and founder, bringing over 20 years of experience in the internet industry[100] - The board consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors[139] - The company has established a remuneration committee to determine the compensation policy for directors and senior management[116] - The company has a dual-class share structure, with Class A shares granting one vote and Class B shares granting ten votes per share[92] - The independent non-executive directors confirmed that the contractual arrangements continue to provide economic benefits to the group[91] Risk Management - The company faces significant risks including the inability to implement new technologies and respond to changing user preferences, which could adversely affect user growth and retention[63] - The company is subject to complex and evolving data protection and cybersecurity laws in mainland China, non-compliance may lead to penalties and operational impacts[64] - The company has confirmed that its risk management and internal control systems are effective and adequate as of the fiscal year ending December 31, 2024[178] Employee and Social Responsibility - The company had a total of 5,688 employees as of December 31, 2024, with 50.9% in sales and marketing, 23.4% in R&D, 17.7% in operations, and 8.0% in general administration[49] - The company made charitable donations amounting to RMB 2.5 million during the year ended December 31, 2024[58] - Training on anti-bribery and anti-corruption has been provided to all employees to enhance their understanding of the company's business ethics policies[136] Compliance and Regulatory Matters - The company is committed to maintaining compliance with listing rules and regulations, ensuring transparency and accountability in its operations[96] - The company has adopted a securities trading code that meets or exceeds the standards set out in the listing rules, regulating all securities transactions by directors and relevant employees[194] - The company has not disclosed any related party transactions that meet the definition of "related transactions" under listing rules[120]
BOSS直聘-W(02076) - 2024 - 年度财报