Career International(300662) 太平洋·2025-03-03 13:25Investment Rating - The report assigns a "Buy" rating to the company, indicating an expected relative increase of over 15% compared to the CSI 300 index in the next six months [6][14]. Core Insights - The recruitment market is experiencing a structural recovery, driven by technological empowerment within the industry ecosystem [1][11]. - The company reported a total revenue of 11.79 billion yuan for 2024, reflecting a year-on-year growth of 20.6%, with a net profit attributable to shareholders of 204 million yuan, up 1.5% year-on-year [4][9]. - The company is focusing on structural demand in the recruitment market, particularly in high-end manufacturing, artificial intelligence, semiconductors, and digitalization [5][6]. Financial Performance Summary - For Q4, the company achieved a revenue of 3.28 billion yuan, a year-on-year increase of 25.6%, and a net profit of 68.26 million yuan, marking a significant growth of 40.5% year-on-year [4][5]. - The company’s revenue growth rates for the four quarters were 10.3%, 22.9%, 23.1%, and 25.6%, indicating a positive trend [5]. - The projected financials for 2024-2026 include revenues of 11.79 billion yuan, 14.03 billion yuan, and 16.49 billion yuan, with corresponding net profits of 204 million yuan, 249 million yuan, and 302 million yuan [9][12]. Business Strategy and Outlook - The company is enhancing its digital and technological capabilities to drive business development, focusing on a unique ecosystem model that integrates technology, services, and platforms [6][11]. - The flexible workforce business is expected to maintain rapid growth, with an anticipated increase of over 10,000 outsourced positions by year-end [5][6]. - The company aims to integrate platform products and improve data management to enhance recruitment efficiency through AI-driven solutions [6][11].