Ge Long Hui A P P·2025-08-28 05:58Core Insights - The report from Cinda Securities highlights that Core International achieved a net profit attributable to shareholders of 130 million yuan in the first half of the year, representing a year-on-year increase of 47.0% [1] - Revenue and net profit accelerated in Q2 2025, showcasing strong performance driven by deepening AI applications [1] - Revenue from mainland China reached 5.86 billion yuan, up 33.6% year-on-year, while revenue from Hong Kong and overseas markets showed a positive growth of 5.1%, amounting to 1.22 billion yuan [1] Financial Performance - The company reported a robust mid-year performance with significant growth in flexible employment and a notable recovery in recruitment process outsourcing [1] - The forecast for net profit attributable to shareholders for the years 2025 to 2027 is maintained at 289 million yuan, 358 million yuan, and 420 million yuan respectively [1] - The current stock price corresponds to a price-to-earnings ratio of 22x for 2025, 18x for 2026, and 15x for 2027, with a "buy" rating maintained [1] AI Application and Business Growth - The Heva platform has seen a deepening of AI applications, with the launch of nine intelligent agents covering the entire recruitment process in July 2025 [1] - The recovery in Hong Kong and overseas business has contributed to the positive revenue growth, indicating a rebound in these markets [1]