集团收入的预计增长乃主要由于集团信息技术人才及中后台职位的灵活用工在岗人数的增长，推动数字 技术与云服务和通用服务外包产生的收入继续保持增长。数字技术与云服务作为集团经营战略的第二增 长曲线，是近几年重点发展的方向，互联网、通信及汽车行业的客户对数字技术与云服务需求的增加， 推动本集团信息技术人才灵活用工在岗人数增长。在通用服务外包业务派出的人员职位方面，集团一直 努力拓展客户对于运营、人力资源及行政管理等服务价值更高、服务期限更长的中后台职位的灵活用工 需求。随着客户对于中后台职位灵活用工需求的增加，推动集团通用服务外包业务灵活用工在岗人数增 长。 智通财经APP讯，人瑞人才(06919)发布公告，预期集团将于截至2025年12月31日止年度取得约人民币 7410万元至人民币8410万元的年度溢利，以及约人民币8060万元至人民币9060万元的公司权益持有人应 占溢利，相较于截至2024年12月31日止年度实现扭亏为盈。主要因为因收购上海思芮信息科技有限公司 所产生的商誉的减值拨备于截至2024年12月31日止年度的财务报表入账，而预期并无该减值拨备将于截 至2025年12月31日止年度的财务报表确认;及集 ...

格隆汇1月7日丨人瑞人才(06919.HK)公告，预期集团将于截至2025年12月31日止年度录得约人民币7410 万元至人民币8410万元的年度溢利，以及约人民币8060万元至人民币9060万元的公司权益持有人应占溢 利，相较于截至2024年12月31日止年度实现扭亏为盈，主要因为(i)因收购上海思芮信息科技有限公司 ("上海思芮")所产生的商誉的减值拨备于截至2024年12月31日止年度的财务报表入账，而预期并无该减 值拨备将于截至2025年12月31日止年度的财务报表确认；(ii)集团截至2025年12月31日止年度的溢利随 集团截至2025年12月31日止年度收入的增长而相应增长。 集团收入的预计增长乃主要由于集团信息技术人才及中后台职位的灵活用工在岗人数的增长，推动数字 技术与云服务和通用服务外包产生的收入继续保持增长。 数字技术与云服务作为集团经营战略的第二增长曲线，是近几年重点发展的方向，互联网、通信及汽车 行业的客户对数字技术与云服务需求的增加，推动集团信息技术人才灵活用工在岗人数增长。在通用服 务外包业务派出的人员职位方面，集团一直努力拓展客户对于运营、人力资源及行政管理等服务价值更 高、服 ...

在当今竞争激烈的商业环境中，灵活用工正成为企业应对挑战的关键策略。这种模式通过兼职、临时工、外包等形式，为企业提供动态人力资源调整能力， 显著提升运营效率。 该模式有效解决了企业面临的多重问题。首先，它缓解了招聘压力，通过快速配置人力资源应对项目高峰期需求。其次，灵活用工降低了用工风险，企业无 需承担长期雇佣的社保和赔偿等固定成本。此外，它帮助企业更好地适应市场变化，在业务波动时保持运营弹性。 灵活用工的核心优势在于成本优化。企业可根据业务需求灵活调整用工规模，避免固定用工带来的资源浪费，尤其在业务淡季能有效降低人力成本。同时， 它简化了人力资源管理流程，减少招聘、培训和办公支出，使企业能将资源集中于核心业务发展。 对于员工而言，灵活用工提供了更多自主选择，有助于实现工作与生活的平衡。对企业来说，这种模式促进了创新，能够引入多元化人才，增强竞争力。 ...

Core Viewpoint - Banu International is rapidly advancing its IPO process in Hong Kong after its initial application was invalidated, showing strong revenue growth and profitability but facing internal governance challenges and compliance issues related to labor practices [1][3][16]. Financial Performance - For the first three quarters of 2025, Banu International reported revenue of 2.077 billion yuan, a year-on-year increase of 24.5% [1][13]. - The adjusted net profit reached 235 million yuan, marking a significant growth of 80.8% compared to the same period in 2024, with an adjusted net profit margin exceeding 10% for the first time since 2022 [1][13]. - The company had 162 directly operated stores as of the last feasible date, with a net increase of 18 stores compared to the end of 2024 [1][13]. Sales and Customer Metrics - Same-store sales growth improved from 2.1% to 4.3% compared to the first quarter, with first-tier cities experiencing a 15.9% increase [1][13]. - The average customer spending remained at 138 yuan, while the average spending in the hot pot category across China was around 58 yuan during the same period [1][13]. Employee Structure and Compliance Issues - As of September 30, 2025, Banu International employed 11,100 staff, with only 1,974 being full-time employees, representing 17.8% of the total workforce [4][17]. - The company has accumulated unpaid social insurance and housing fund contributions totaling 4 million yuan from 2022 to the first three quarters of 2025 [4][19]. - The reliance on part-time and outsourced employees, which make up 82.2% of the workforce, raises concerns about compliance with labor regulations [4][17]. Dividend and Financing Strategy - In January 2025, Banu International declared a dividend of 70 million yuan, which accounted for 41.7% of the adjusted net profit for 2024, despite facing significant short-term debt pressures [21][22]. - As of September 30, 2025, the company had current liabilities of 320 million yuan while cash and cash equivalents were only 69.63 million yuan, a decrease of 68.6% from the end of 2024 [21][22]. Valuation and Investment Dynamics - Banu International's valuation has seen a significant increase, with the founders' investments contributing to a 134.1% rise in valuation over four years [25]. - The company has faced challenges in securing substantial external financing, with a notable failed transaction in 2021 that was expected to raise over 500 million yuan [25].

酒店：经营端环比改善，关注供需关系变化 2025年三季度，酒店集团经营层面环比改善，主要驱动因素为房价，入住率受行业整体供需关系影响， 表现相对较弱。单2025年三季度，锦江、首旅-不含轻管理RevPAR分别恢复至2019年同期的101.1%、 94.3%，二季度恢复率分别为96.4%、88.3%，环比恢复率提升。其中ADR分别恢复至2019年同期的 113.7%、113.2%，OCC分别恢复至2019年同期的88.9%、83.3%。 旅游及景区：业绩分化明显 2025年单三季度，各旅游景区业绩分化较为明显。与2024年相比，23家景区公司中，8家公司归母净利 润同比正增长，12家公司营收同比正增长。从归母净利润增速上看，增速最高为*ST张股（000430）(张 家界)405%，其次为西藏旅游（600749）34.7%，最低为曲江文旅（600706）-277%；从营收增速上看， 增速最高为祥源文旅（600576）35.1%，其次为凯撒旅业（000796）19.8%，最低为云南旅游 （002059）-53.6%。 华创证券发布研报称，2025年前三季度，社会服务行业整体营收平稳增长，利润率有所下滑。细分行 业， ...

Core Insights - The high turnover rate of blue-collar workers poses significant challenges for companies, leading to increased recruitment and training costs, decreased production efficiency, and potential loss of core technologies [2] - Retaining blue-collar employees requires a strategic approach that goes beyond human resources, focusing on creating a stable and supportive work environment [2] Compensation and Benefits - Competitive and fair compensation is crucial for blue-collar employee retention, as it directly reflects respect for their labor [3] - A transparent and equitable pay structure is essential to prevent dissatisfaction among employees [3] - Companies are increasingly recognizing the importance of personalized benefits, such as housing support and emergency funds, to enhance employee satisfaction [4] Career Development and Training - Providing clear career advancement pathways is vital for retaining blue-collar workers, as they seek growth and progression in their careers [6] - Companies must invest in training and skill development to meet the evolving demands of the industry, particularly with the rise of automation and smart technologies [7] - External professional support for training can help companies overcome internal resource limitations and enhance employee skills [7] Work Environment - A safe and comfortable work environment is a key factor in employee retention, with physical safety being a top priority [8] - The cultural environment, including relationships with colleagues and management, significantly impacts employee morale and loyalty [9] Flexible Employment Strategies - Companies face challenges related to workforce fluctuations, necessitating flexible employment strategies to maintain core teams during peak and off-peak seasons [10] - Utilizing professional service providers for recruitment and management of temporary staff can alleviate the burden on HR teams and enhance operational efficiency [11] Conclusion - Retaining blue-collar employees requires a multifaceted approach that integrates compensation, career development, work environment, and flexible employment strategies [12] - A shift in management philosophy from top-down control to a more human-centered approach is essential for fostering a supportive workplace culture [12]

Core Insights - The article emphasizes the importance of employee efficiency (人效比) as a critical metric for business health, indicating that high efficiency reflects a capable team and streamlined processes, while low efficiency suggests internal issues and stagnation [2][6] Measurement of Employee Efficiency - Employee efficiency is defined as the ratio of output to input, where output can be sales, profit, production, or customer numbers, and input typically refers to the number of employees or labor costs [2] - A multi-dimensional and refined indicator system is necessary for measuring efficiency across different departments, as the metrics for sales, production, R&D, and support functions vary significantly [3][6] Selecting the Right Talent - The first step in improving efficiency is ensuring the right talent is selected, as poor hiring can hinder overall team performance [7] - Different recruitment strategies are needed for various talent levels, with bulk hiring requiring speed and breadth, while high-level talent often necessitates targeted headhunting [8] Streamlining Organizational Processes - Low efficiency may stem from inefficient internal processes rather than employee performance, necessitating the optimization of business workflows and organizational structures [9] - Business Process Outsourcing (BPO) can enhance efficiency by allowing companies to focus on core competencies while outsourcing non-core tasks [9][10] Continuous Empowerment and Training - Continuous employee training and motivation are essential for maintaining high efficiency, as stagnant skills and low morale can diminish productivity [11] - Platforms that aggregate training services can help companies find suitable training providers to enhance employee skills [11] Technological Support for Decision-Making - Technology, particularly HR technology, is crucial for enhancing employee efficiency by automating repetitive tasks and providing valuable data insights [13][14] - Implementing HR SaaS systems can streamline HR processes, improve decision-making, and enhance overall efficiency [15] Conclusion - The analysis and enhancement of employee efficiency require a systematic approach, starting with accurate measurement, followed by strategic hiring, process optimization, continuous training, and leveraging technology [15][16]

Core Viewpoint - The article discusses the differences in employment models between consulting firms in developed countries and traditional employment practices in China, highlighting a shift towards more flexible, project-based work arrangements in response to changing market conditions. Group 1: Employment Models - Consulting firms in developed countries often operate with a model where technical personnel are hired on a short-term basis, similar to "technical outsourcing" in China [2][5] - In countries like Australia and some European nations, the scarcity of projects leads companies to avoid long-term high-salary contracts for technical staff, opting instead for project-based hiring [3][4] - Technical personnel in these regions typically work on a project basis, moving from one project to another, which results in lower loyalty to specific companies [19][20] Group 2: Comparison with China - In contrast, large enterprises in China and Japan tend to have long-term employment contracts, fostering high employee loyalty and a culture of seniority-based salary increases [11][12][14] - Chinese companies often retain a large number of technical staff for ongoing projects, reflecting a market with abundant opportunities [17][30] - The traditional model in China is beginning to shift as investment growth slows and companies explore more flexible employment arrangements [30][34] Group 3: Future Trends - The article predicts a future where technical personnel in China may increasingly adopt a freelance or "gig" work model, similar to trends seen in developed countries [36][39] - Companies are expected to place greater emphasis on standardized documentation and project management systems, moving away from reliance on individual knowledge transfer [37][38] - The emergence of talent platforms and the rise of technical outsourcing are indicative of this evolving landscape [31][32]

Group 1 - The article discusses the increasing trend of elderly individuals re-entering the workforce, highlighting the case of Zheng, who started working at a supermarket while her daughter was job hunting in Shanghai [2][3][4] - The new social security regulations effective from September 1, which invalidate agreements not to pay social security, are expected to create more opportunities for elderly employment [4][25] - Major companies like McDonald's and Beijing Universal Studios are actively recruiting retired individuals, indicating a shift in hiring practices towards older workers [4][25] Group 2 - The article explores the concept of "retirement re-employment" as a potential future employment trend, balancing flexibility and social security [5][25] - The experiences of individuals like Xu and Liu illustrate the challenges and motivations behind elderly workers seeking employment, often driven by a desire to remain active and contribute [9][17] - The current social security structure shows that there are 534 million participants in the urban employee basic pension insurance and 538 million in the rural resident basic pension insurance, indicating a significant portion of the population is engaged in these systems [22][19] Group 3 - The article raises concerns about the legal implications of classifying workers as "partners" or using labor agreements to avoid social security obligations, emphasizing that actual working conditions will determine the nature of the employment relationship [14][26][27] - The rapid growth of flexible employment, with over 200 million individuals involved, particularly among retirees, poses challenges to existing social security systems and labor laws [28][25] - The need for adaptation of social security and labor regulations to accommodate the realities of the evolving workforce is highlighted, stressing the importance of protecting workers' rights [28][26]

Core Viewpoint - The pharmaceutical industry is transitioning towards a "small but refined" recruitment strategy, reflecting a shift from aggressive expansion to a focus on quality and efficiency in response to market challenges [1][4][5]. Recruitment Trends - Overall recruitment in the pharmaceutical sector has not shown significant recovery, with a reduction in hiring levels [1][4]. - Companies are adopting a more cautious approach, leading to increased demand for specific roles and levels [4][5]. - 43% of surveyed companies reported stable recruitment compared to the previous year, while 33% indicated a decline in hiring [5]. Salary Expectations - There has been a notable decrease in salary expectations among industry professionals, with the anticipated increase dropping from 20%-30% to 10%-20% [4][9]. - The phenomenon of accepting lower salaries for suitable opportunities has emerged, indicating a shift in job-seeker priorities [4][9]. Job Role Demand - Demand for traditional support roles and general pharmaceutical representatives is declining, while specialized roles such as academic representatives and human resource managers remain in high demand [7]. - There is a growing need for talent in innovation, operational efficiency, and regulatory compliance, including new drug development and digitalization [7][10]. Employment Environment - The financing environment for pharmaceutical companies has worsened, leading to a more pragmatic approach to hiring and potential layoffs [10]. - The tightening profit margins due to price controls have reduced the incentive for hiring, as new personnel may not yield proportional profit increases [10]. New Graduate Employment - Despite an apparent oversupply of graduates in pharmaceutical fields, there is a disconnect between their skills and market needs, prompting companies to reduce campus recruitment [10][11]. - Recommendations for graduates include pursuing passion in their field, gaining practical experience, and maintaining a commitment to lifelong learning [11]. Flexible Employment Trends - An increasing number of pharmaceutical companies are adopting flexible employment models, such as outsourcing and project-based hiring, to enhance operational efficiency and reduce costs [12][13]. Human Resource Service Adaptation - Human resource service providers need to remain sensitive to market changes, improve operational efficiency through AI, and adapt to the trend of flexible employment [14]. - Companies like 科锐国际 are already engaging a significant number of flexible workers to meet diverse client needs [14]. Future Outlook - The "small but refined" recruitment trend is expected to persist as the pharmaceutical industry shifts from generic drugs to innovative original drugs, making it a strategic choice for optimizing operations in the short term [15].