Investment Rating - The report assigns an investment rating of "Positive" for the education industry [1]. Core Viewpoints - The number of recruits for the national civil service examination in 2025 is expected to slightly increase, with a total of 39,700 positions planned, representing a year-on-year growth of 0.3%. Among these, 26,700 positions are specifically set aside for fresh graduates to support their employment [1]. - The report anticipates a continuous rise in the number of applicants due to the ongoing employment pressure faced by young people. As of August 2024, the urban survey unemployment rate for individuals aged 16-24 is 18.8%, an increase of 1.7 percentage points month-on-month. The number of college graduates is projected to reach 11.79 million in 2024, a year-on-year increase of 12.6% [1]. - The report suggests that the increasing number of civil service examination applicants will drive the demand for training in recruitment, highlighting investment opportunities in the recruitment training industry, particularly in companies like Fenbi, Huatu Shandian, and Zhonggong Education [1]. Summary by Sections - Recruitment Growth: The civil service recruitment plan for 2025 includes 39,700 positions, with a focus on hiring fresh graduates [1]. - Applicant Trends: The report expects a record high in the number of applicants for the civil service examination due to rising unemployment rates among young people and an increasing number of college graduates [1]. - Investment Opportunities: The report emphasizes the potential for growth in the recruitment training sector, recommending a focus on specific companies within this industry [1].
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Xinda Securities·2024-10-14 06:03