Career International(SZ:300662) Soochow Securities·2025-08-28 05:45Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant revenue and profit growth, with a focus on AI technology expanding its business potential [9] - The domestic recruitment market is expected to experience a structural recovery driven by industry upgrades, which will accelerate the company's revenue growth [9] Financial Performance Summary - Total revenue for 2023 is projected at 9,778 million RMB, with a year-on-year growth of 7.55%. This is expected to increase to 11,788 million RMB in 2024, representing a growth of 20.55% [1] - The net profit attributable to the parent company is forecasted to be 200.50 million RMB in 2023, with a significant decline of 31.05%. However, it is expected to recover to 205.35 million RMB in 2024, showing a growth of 2.42% [1] - The earnings per share (EPS) is estimated to be 1.02 RMB for 2023, increasing to 1.04 RMB in 2024 and further to 1.36 RMB in 2025 [1] Business Segment Analysis - The flexible employment segment generated revenue of 67.36 billion RMB in the first half of 2025, reflecting a year-on-year increase of 29.3%. The high-end talent search segment saw a slight decline in revenue [9] - AI technology is driving significant growth in business metrics, with a notable increase in the number of positions delivered through AI applications [9] Valuation Metrics - The projected price-to-earnings (P/E) ratios for 2025, 2026, and 2027 are 24, 20, and 18 respectively, indicating a favorable valuation outlook [9]