Career International(300662) 天风证券·2025-03-01 10:23Investment Rating - The investment rating for the company is "Buy" with a target price indicating a relative return expectation of over 20% within six months [6][17]. Core Insights - The company's performance showed a quarter-on-quarter improvement, with a 40% year-on-year increase in net profit attributable to the parent company for Q4 2024. The revenue for 2024 is projected to be 11.8 billion yuan, representing a year-on-year growth of 20.6% [1][4]. - The company has developed an AI-driven matching system, enhancing the efficiency of candidate searches and integrating AI models into recruitment processes, which is expected to significantly improve operational efficiency [2]. - The company is focusing on large clients and regional customer development, showing strong potential for growth and vitality across its business lines [3]. Financial Performance Summary - The company reported a revenue of 9.09 billion yuan in 2022, which increased to 9.78 billion yuan in 2023, and is expected to reach 11.79 billion yuan in 2024, with a growth rate of 20.6% [5][11]. - The net profit attributable to the parent company was 290.69 million yuan in 2022, decreasing to 200.50 million yuan in 2023, but is projected to recover to 203.52 million yuan in 2024, reflecting a growth rate of 1.5% [5][11]. - The company's earnings per share (EPS) is expected to be 1.03 yuan in 2024, with a projected increase to 1.32 yuan in 2025 and 1.59 yuan in 2026 [5][11]. Business Development Strategy - The company is enhancing its technology platform and digital capabilities, focusing on consolidating large clients and developing technology-related positions to capture market opportunities as the macroeconomic environment improves [4]. - The integration of AI in recruitment processes is a key strategy, with the company leveraging its self-developed CRE model and matching system to improve candidate sourcing and internal collaboration [2][3].