Career International(300662) 天风证券·2025-03-01 16:01Investment Rating - The investment rating for the company is "Buy" with a target price indicating a potential return of over 20% within the next six months [6][17]. Core Insights - The company's performance has shown a quarter-on-quarter improvement, with a 40% year-on-year increase in net profit attributable to shareholders in 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 selection in recruitment processes. This system is based on extensive data and aims to improve operational efficiency in the recruitment sector [2]. - The company is focusing on integrating online and offline resources to enhance its business development, particularly targeting large clients and expanding its presence in key markets [3]. Summary by Sections Financial Performance - In Q4 2024, the company reported a revenue of 3.28 billion yuan, a year-on-year increase of 25.6%, and a net profit of 68.26 million yuan, up 40.5% year-on-year. The net profit margin for this quarter was 2.1% [1]. - The projected revenues for 2024-2026 are 11.8 billion yuan, 14.2 billion yuan, and 17 billion yuan, with respective year-on-year growth rates of 20.6%, 20.1%, and 19.7% [4][5]. Business Development - The company has initiated the development of a data platform since 2022 and launched the CRE large model in 2023, which is designed to enhance candidate matching in recruitment [2]. - The integration of AI technologies is expected to significantly improve the efficiency of recruitment processes, particularly in the mid-to-high-end recruitment sector [2]. Market Position - The company is actively collaborating with global resources to strengthen its recruitment ecosystem, focusing on large clients and enhancing its service offerings in both domestic and international markets [3].