人社部人力资源流动管理司负责人表示，下一步将结合国家和区域重大发展战略，把人力资源服务业与 制造业融合发展纳入"十五五"经济社会发展规划，通过加强顶层设计、强化政策支持、创新供给方式， 统筹谋划推动试点任务落到实处、取得实效。 "十五五"时期，我国经济长期向好的支撑条件和基本趋势没有改变，为稳定就业提供了坚实基础，但就 业总量压力依然存在，结构性就业矛盾更为突出，外部环境变化也将带来新情况新问题。在此背景下， 《建议》明确提出，深入实施就业优先战略，健全就业促进机制，构建就业友好型发展方式。 首都经济贸易大学中国新就业形态研究中心主任张成刚表示："构建就业友好型社会，应把产业结构优 化升级作为创造高质量岗位的核心抓手。"他建议，依托数字平台和"AI+就业"降低就业摩擦，提升服务 业就业吸纳能力；通过大规模职业教育和技能培训提升就业质量、应对技术变革；把完善就业服务体系 作为重点群体就业保障的重要支撑，将优化劳动者权益保障与就业生态作为就业友好的制度性抓手。 为打造更利于就业的发展模式，相关部门将进一步加强产业发展和就业工作的协同配合，支持企业稳定 现有岗位、扩大招聘规模；在数字经济、高端制造、现代服务等领域培 ...

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， ...

Group 1 - The core point of the news is that Keri International's stock price has dropped by 5.05%, currently trading at 26.32 CNY per share, with a total market capitalization of 5.18 billion CNY [1] - Keri International, established on December 5, 2005, and listed on June 8, 2017, is a technology-driven human resources solution provider, with its main business revenue composition being 95.22% from flexible employment, 2.77% from high-end talent search, 0.84% from other services, 0.64% from recruitment process outsourcing, and 0.54% from technical services [1] Group 2 - From the perspective of fund holdings, Keri International is a significant investment for the Guotou Ruijin Fund, which holds 219,600 shares, accounting for 3.12% of the fund's net value, making it the ninth largest holding [2] - The Guotou Ruijin Fund has a total asset size of 201 million CNY and has achieved a year-to-date return of 10.29%, ranking 5577 out of 8136 in its category [2]

Core Insights - Maharah Human Resources Company has signed a Brand License Agreement with ManpowerGroup for five years, aiming to enhance its professional workforce recruitment and outsourcing capabilities [1][2] Group 1: Strategic Alignment - The Brand License Agreement (BLA) aligns with Maharah's growth strategy "NMOU" and focuses on expanding into professional workforce recruitment and outsourcing [1][2] - The BLA is designed to strengthen Maharah's competitive position in the human resources services market through value-added activities [2] Group 2: Financial Impact - The financial impact of the BLA on Maharah is expected to be realized in 2026, with no related parties involved in the agreement [3] Group 3: Operational Goals - The BLA will utilize Manpower's global brand and presence to provide employment and human resources services in Saudi Arabia, adhering to international standards [4] - The agreement emphasizes the transfer of global expertise and enhancement of local capabilities, supporting national value through localization programs and empowerment of national talents, in line with Saudi Vision 2030 [4] Group 4: ManpowerGroup Overview - ManpowerGroup is a leading workforce solutions company, publicly listed on the New York Stock Exchange, with over 2,100 branches in 75 countries and territories, and recorded revenues of approximately USD 18 billion in 2024 [5] - The BLA will enable comprehensive human resources solutions for local Saudi companies and foreign investors entering the Saudi market [5]

Core Viewpoint - The stock of Core International has experienced fluctuations, with a year-to-date increase of 32.82% but a recent decline of 4.77% over the past five trading days [1] Financial Performance - For the period from January to September 2025, Core International achieved a revenue of 10.755 billion yuan, representing a year-on-year growth of 26.29%, and a net profit attributable to shareholders of 220 million yuan, which is a 62.46% increase compared to the previous year [2] Shareholder Information - As of November 10, 2025, the number of shareholders of Core International is 14,600, a decrease of 0.29% from the previous period, with an average of 13,401 circulating shares per shareholder, which is an increase of 0.29% [2] - The company has distributed a total of 199 million yuan in dividends since its A-share listing, with 70.26 million yuan distributed over the past three years [3] Stock Performance and Market Activity - As of November 20, 2025, Core International's stock price is 27.76 yuan per share, with a market capitalization of 5.463 billion yuan. The stock has seen a trading volume of 28.003 million yuan and a turnover rate of 0.51% [1] - The main capital flow indicates a net outflow of 1.1045 million yuan, with large orders accounting for 6.58% of purchases and 10.53% of sales [1] Business Overview - Core International, established on December 5, 2005, and listed on June 8, 2017, is based in Beijing and specializes in technology-driven human resource solutions. Its main business revenue composition includes flexible employment (95.22%), mid-to-high-end talent search (2.77%), and other services [1]

Core Insights - Tianjin Tianbao Holdings Co., Ltd. has signed a strategic cooperation agreement with Beijing Keri International Human Resources Co., Ltd. to enhance human resource service business model innovation and explore new market opportunities [1][3] Group 1: Strategic Cooperation - The cooperation follows Tianbao Holdings' acquisition of a 55% stake in Tianjin Zhirui, a subsidiary of Keri International, marking a significant upgrade in their partnership [3] - This collaboration represents a formal implementation of the "regional state-owned enterprise resources + listed platform advantages" model [3] Group 2: Company Profiles - Tianbao Holdings is a large state-owned enterprise in Tianjin, ranking 336th among China's top 500 service companies, with subsidiaries in construction, energy, and human resources [4] - Keri International is the first publicly listed human resources company in A-shares, serving over 6,000 clients and operating more than 100 branches globally [4] Group 3: Collaborative Framework - The partnership aims to establish a three-dimensional cooperation system focusing on resource integration, market expansion, and technological empowerment [5] - Tianbao Holdings will leverage its industrial resources while Keri International will utilize its global talent network and technological capabilities to optimize the regional talent supply chain [5] Group 4: Strategic Goals - The collaboration is part of Tianbao Holdings' efforts to implement the "industry collaboration" strategy, integrating regional resource advantages with Keri International's global service capabilities [6] - The partnership aims to enhance regional talent aggregation and industrial transformation, contributing to high-quality regional development [6]

Korn Ferry (NYSE: KFY) FY Conference Summary Company Overview - Korn Ferry has transformed from a $700 million business in 2012, primarily focused on executive search, to a nearly $3 billion organization today, offering a wide range of services related to employee engagement and talent management [3][4][5] Core Capabilities - The company has developed capabilities in organizational strategy, talent acquisition, leadership development, and total rewards consulting, making it unique in the industry [4][5] - Korn Ferry is the largest assessment house globally, utilizing psychometric assessments developed by a team of 25 I/O psychologists [4][5] Talent Suite Launch - Korn Ferry recently launched its Talent Suite, a single technology platform designed to integrate data, intellectual property, and behavioral science to enhance service delivery [6][30] - The Talent Suite aims to improve efficiency and effectiveness in utilizing the company's extensive data assets, which include assessments of 110 million people and 25 million paid data points [6][30] Go-to-Market Strategy - The primary go-to-market strategy focuses on marquee and diamond accounts, which represent the top 350 clients and account for approximately 40% of total fee revenue [13][14] - The company aims to increase cross-selling opportunities, with 25-26% of fee revenues currently generated from referrals between different service areas [14] Impact of AI - Korn Ferry recognizes the significant impact of AI on the talent marketplace and is actively integrating AI into its services to enhance client offerings [15][16] - The company is helping clients redesign their organizations to leverage AI effectively, focusing on talent readiness and development [17][22] Financial Performance - Korn Ferry has achieved an adjusted EBITDA margin of around 17%, with a revenue run rate between $2.8 billion and $2.9 billion, maintaining the same workforce of 9,000 employees [61][62] - The company has reduced its real estate footprint by 35% and cut business development costs significantly, contributing to improved profitability [62][63] Digital Business Growth - The digital business has grown to approximately $360 million-$370 million, with subscription and license revenue making up about 40% of that total [41][42] - Korn Ferry aims to increase the subscription and license portion of its digital business to 60-65% through the Talent Suite [42] Capital Allocation and M&A Strategy - Korn Ferry adopts a disciplined approach to M&A, focusing on strategic alignment with human capital and ensuring financial viability [66][67] - The company prioritizes reinvesting in its business, including technology and talent development, while also returning capital to shareholders through dividends and buybacks [68][69] Future Outlook - The company is optimistic about the future, particularly with the rollout of the Talent Suite and the potential for further integration of AI into its services [70][72] - Korn Ferry aims to break down internal silos and position itself as a comprehensive talent partner for clients, enhancing its value proposition [72][73]

全行业年均为3亿人次劳动者提供就业、择业和流动服务。 11月28日~11月29日，人力资源和社会保障部、湖北省人民政府将在湖北省武汉市举办第三届全国人力资源服务业发展大会。 人力资源服务业是现代生产性服务业重要门类，为劳动者求职和职业发展、为用人单位招聘和人力资源管理开发提供专业服务。 自2021年以来，人社部先后在重庆市、广东省深圳市举办两届全国人力资源服务业发展大会，共吸引上千家人力资源服务企业参会交流，400余个优质项目 合作洽谈，200余个创新产品路演宣讲，全方位展示了行业发展成就，全要素呈现了人力资源市场化配置的各个领域，全覆盖分享了各业态经验做法，得到 了广泛关注。 人力资源流动管理司二级巡视员薄世媛在人社部第三季度新闻发布会上表示，第三届大会以"塑造现代化人力资源 促进高质量充分就业"为主题，设置"研、 会、才、聘"四个专项活动。 "研"就是开展人力资源服务业高质量发展研讨，聚焦促进高质量充分就业、强化现代化建设人才支撑和人力资源服务业创新发展等主题，开展对话交 流。"会"就是举行人力资源服务供需洽谈会，聚焦现代化产业体系协同发展和构建"双循环"格局进行洽谈合作。"才"就是开展港澳引才聚才活动， ...

21世纪经济报道记者陈思琦深圳报道 近日，人力资源社会保障部办公厅印发《关于做好人力资源服务业与制造业融合发展试点有关工作的通知》，公布承担试点任务的39个城市 名单，广东省广州市、深圳市入选。 11月17日，21世纪经济报道记者从深圳市人社局获悉，深圳将聚焦重点行业、重点企业、重点任务，通过创新工作机制、强化制造业用人保 障、织密服务网络、培育新兴业态等四方面工作，推出特色融合发展举措。 （图源：人社部官网） 具体来看，深圳将组建招聘用工联合体、跨企业培训联合体等创新联合体，引导社会力量深度参与，拓展制造业企业与人力资源服务机构协 同发展路径。探索建立用工余缺调剂机制，组织人力资源服务机构与制造业企业开展供需对接，保障重点产业、重点企业用工需求。鼓励依 法开展灵活用工平台服务，保障制造业企业弹性用工需要。动态更新"20+8"重点产业高端紧缺岗位清单，实施深圳市"引才伯乐奖"，鼓励引 导人力资源服务机构为重点产业引进高端紧缺人才。 同时，深圳将建设4个人力资源服务业集聚区，引导中国深圳人力资源服务产业园9个分园区建设常设性制造业招聘服务专区，提供招聘信息 发布、直播带岗等服务。制造业集聚区还将设立人力资源服务 ...

Investment Rating - The report maintains a "Recommendation" rating for the consumer services industry [3]. Core Insights - The consumer services industry is experiencing a marginal improvement in revenue growth driven by strong travel demand [2]. - For the first three quarters of 2025, the social services industry achieved a revenue of 178.43 billion yuan, a year-on-year increase of 1.2%, and a net profit of 10.09 billion yuan, a year-on-year decrease of 14.4% [11]. - The overall gross profit margin for the industry is 23.8%, down by 2.0 percentage points year-on-year [11]. Summary by Sections Overall Industry Situation - In the first three quarters of 2025, the social services industry saw stable revenue growth but a decline in profit margins, with revenue reaching 178.43 billion yuan and net profit at 10.09 billion yuan [11]. - The comprehensive gross profit margin was 23.8%, with a net profit margin of 5.7%, reflecting a year-on-year decrease of 1.0 percentage points [11]. Sub-Industry Analysis - **Hotels**: The hotel sector showed a sequential improvement in operations, with RevPAR for Jinjiang and Shouqi recovering to 101.1% and 94.3% of 2019 levels, respectively [31]. - **Tourism and Scenic Areas**: There is significant performance differentiation among tourism companies, with some showing positive net profit growth while others face declines [40]. - **Dining**: The dining sector's performance is mixed, with some leading companies demonstrating resilience through innovation and brand strength [27]. - **Duty-Free**: The duty-free sector is showing signs of stabilization, with a narrowing revenue decline and positive growth in Hainan's duty-free sales [27]. - **Human Resources Services**: The human resources sector continues to thrive, driven by flexible employment needs and digital transformation [27]. - **Exhibitions**: The exhibition industry is under short-term pressure but is benefiting from a recovery in domestic demand and international exchanges [27].