Group 1 - The core viewpoint is that BOSS Zhipin (02076, BZ.US) is expected to benefit from a recovery in demand in the second half of 2025, with optimism about its long-term prospects due to increasing online recruitment penetration [1] - The company’s non-GAAP net profit forecasts for fiscal years 2025 and 2026 have been raised by 1% and 2% respectively, reflecting improved profit outlook driven by demand recovery and operational leverage [1] - The target price for BOSS Zhipin's Hong Kong stock has been increased from HKD 86 to HKD 101, and the target price for its US stock has been raised from USD 22 to USD 26, maintaining a buy rating [1] Group 2 - In Q2 of this year, BOSS Zhipin's performance exceeded expectations, with revenue increasing by 10% year-on-year, surpassing forecasts by 1%, and non-GAAP net profit rising by 31%, exceeding expectations by 16%, attributed to ongoing efficiency improvements [1] - The demand trend for the company is expected to continue improving, with accelerated growth anticipated in the second half of 2025, and enhanced business performance driven by AI capabilities [1] - The new shareholder return plan is projected to yield a return of 3.4% over the next 12 months, indicating a positive outlook for shareholder value [1]
招证国际：升BOSS直聘-W(02076)目标价至101港元 需求改善助下半年增长持续