Core Viewpoint - The "Million Talents Gathering in South Guangdong" spring recruitment event aims to attract top talent to Guangdong, showcasing a strong demand for skilled professionals across various industries, with significant salary offerings and comprehensive support services for new recruits [9]. Group 1: Recruitment Event Overview - The recruitment event took place in four major cities: Beijing, Hangzhou, Wuhan, and Xi'an, featuring participation from 1,650 employers and offering a total of 60,000 job positions [3]. - In Beijing, 793 companies provided 42,000 job openings, including 240 positions with annual salaries exceeding 1 million yuan and 2,456 positions with salaries between 500,000 and 1 million yuan [3]. - The Hangzhou event featured 683 companies offering over 21,945 positions, with 109 positions offering salaries above 1 million yuan and 966 positions between 500,000 and 1 million yuan [5]. Group 2: Talent Attraction Strategies - The event included unique offerings such as the "Bay Area Gift Package," which provided attendees with experiences and gifts that highlighted local culture and lifestyle, aiming to create a welcoming environment for talent [4]. - Guangdong's recruitment strategy emphasizes addressing the concerns of potential recruits regarding living conditions, with initiatives like free accommodation, rapid household registration, and various financial incentives [9]. - The focus on high-quality job positions and the presence of leading companies reflect Guangdong's commitment to attracting and retaining top talent in key industries such as artificial intelligence, biotechnology, and renewable energy [5][9]. Group 3: Future Outlook - The recruitment initiative is part of a broader strategy to ensure that Guangdong remains competitive in attracting high-caliber talent, with ongoing improvements in policies and support systems to enhance the living and working conditions for new arrivals [10]. - The emphasis on creating a supportive environment for talent is seen as essential for fostering innovation and economic growth in the region, with a focus on long-term development and collaboration between talent and local industries [10].

Financial Data and Key Metrics Changes - Revenues for 2024 were $3.7 billion, a 6% increase from $3.49 billion in 2023 [55] - GAAP earnings per share (EPS) rose to $7.81 from $7.71 in the prior year, while adjusted EPS increased to $7.99 from $7.71 [55] - Adjusted EBITDA for 2024 was $403.7 million, or 10.9% of revenues, down from $424.8 million, or 12.2% of revenues in 2023 [56][57] - Net income grew to $280.1 million from $274.9 million in 2023, primarily due to a lower tax rate [56] Business Line Data and Key Metrics Changes - Corporate Finance and Restructuring revenues decreased by 8.2% year-over-year to $335.7 million, with restructuring representing 47% of segment revenues [67][68] - Forensic and Litigation Consulting (FLC) revenues increased by 6.3% to $175.9 million, driven by higher demand for data and analytics services [70] - Economic Consulting revenues were flat at $200.1 million, with adjusted segment EBITDA dropping significantly due to higher bad debt [73] - Technology segment revenues decreased by 10.2% to $90.6 million, primarily due to lower demand for M&A-related services [75] Market Data and Key Metrics Changes - The fourth quarter saw a slowdown in M&A-related activities, impacting revenues in Corporate Finance and Restructuring and Technology segments [25][26] - Economic pressures in various global markets, particularly in the UK, have affected several business lines [26] Company Strategy and Development Direction - The company remains focused on long-term growth despite facing headwinds in 2025, emphasizing the importance of building a stronger business over optimizing short-term results [11][12] - There is a commitment to attract and invest in top talent, even amidst near-term financial pressures [22][44] - The company anticipates a revenue range of $3.66 billion to $3.81 billion for 2025, reflecting a cautious outlook due to current market conditions [82] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about serious headwinds for 2025, including senior departures in the US competition practice and a low tax rate comparison from 2024 [21][22] - Despite these challenges, management remains optimistic about the company's long-term trajectory and ability to navigate through market fluctuations [48][54] Other Important Information - The company reported a special charge of $8.2 million in Q4 2024 related to severance and other employee-related costs, with additional charges expected in Q1 2025 [56][59] - Free cash flow for 2024 was $360.2 million, up from $174.9 million in 2023, indicating improved cash generation capabilities [80] Q&A Session Summary Question: Impact of senior departures on 2025 guidance - Management indicated that the $35 million figure mentioned was a reference point for potential impacts, but emphasized uncertainty around the exact effects on 2025 and 2026 [94][96] Question: Overall headcount growth plans for 2025 - Management expects to hire more senior professionals than those leaving, maintaining a focus on growth despite current headwinds [104][106] Question: M&A trends and outlook - There is optimism for a pickup in M&A activity, although uncertainty remains regarding government policies and their impact on market conditions [110][112] Question: Industry verticals impacted by competition practice changes - Management noted that the departures are not specific to any industry vertical but are driven by individual relationships and connections [115][116]