为让返岗服务更贴合企业用工需求与劳动者就业意愿，本市人社部门动态排摸重点产业链，并配备就业 服务专员，建立"重点企业用工服务档案"，提供"一企一策"定制化服务。同时，与云南、湖南、安徽、 四川等劳务输出大省密切联络，提前开展驻点招聘、组团招工、定向招聘、联合招聘，开展校企合作、 直播带岗、订单式培训，让务工人员返岗前就敲定就业岗位。由属地人社部门提供"专人接站、专车到 厂、专属服务"，让劳动者从"家门口"直达"厂门口"返岗更便捷，还能享受职业指导、定向培训、权益 维护等"一站式"公共就业服务，让来沪劳动者切实感受上海温度、增加收入、扎根城市发展。 除了春节期间"点对点"包机包列返岗服务外，全市各级人社部门将针对高校毕业生、农民工、失业人员 等重点群体，以及建筑、航海、养老家政等重点行业，密集举办130多场专场招聘活动，以更精准的对 接、更优质的服务，全力保障重点行业和重点企业用工，吸引更多劳动者在沪就业创业。 "我春节前就找好了上海的工作，这次出门有高铁包列，到站有专人接站，员工宿舍也提前安排好了， 一点也不用操心！"来自湖南的务工人员代表接过暖心礼包时不禁感慨。据悉，春节长假期间，全市各 级人社部门将组织一 ...

春节前后，青海省人力资源和社会保障厅依托各级公共就业服务机构和乡镇、村"两委"、驻村工作组等 力量，精准摸排农民工就业意向、技能水平和返岗需求。充分发挥经营性人力资源服务机构、驻外人力 资源服务站、劳务经纪人等市场作用，用好对口支援和东西部协作资源优势，精准收集适合农民工就业 的岗位信息。 此外，在乡镇、村社举办"小而美""专而精"的招聘活动40余场次，把500多家企业1.4万个岗位信息送到 群众家门口，积极对接交通运输、青藏铁路等部门，主动协调专车、专列、包车等方式，"点对点、一 站式"把农牧民送到江苏、安徽、福建等省市企业务工，让求职者足不出户就能找到合适的工作岗位， 真正打通就业服务"最后一公里"。 本报讯 （记者 丁玉梅） 2月18日，记者从青海省人力资源和社会保障厅获悉，一季度我省将举办"春风 行动暨就业援助季"招聘活动预计100场次，参与企业2000余家，挖掘发布就业岗位超10万个。 ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $418 million, an increase of 8% year-over-year, with organic revenue growing by 5% [10] - Gross margin decreased to 21.5% from 26.6% in the prior year, primarily due to less favorable workers' compensation reserve adjustments and changes in revenue mix [11] - The company reported a net loss of $32 million for the quarter, which included an $18 million non-cash impairment charge [13] Business Line Data and Key Metrics Changes - PeopleReady revenue grew by 11%, driven by strong performance in the energy sector, with revenue more than doubling in this vertical for the second consecutive quarter [14] - PeopleManagement revenue declined by 2% due to lower on-site volumes in the retail vertical, but new site launches are expected to drive future revenue expansion [15] - People Solutions revenue increased by 42%, with HSP contributing to this growth, although organic growth was flat year-over-year [16] Market Data and Key Metrics Changes - Energy sector revenue grew by 60%, indicating strong demand and market capture [5] - The healthcare market remains a significant long-term opportunity, with new business wins and expansion into three new states by Healthcare Staffing Professionals [7] Company Strategy and Development Direction - The company restructured its business model to enhance sales capabilities and improve profitability while managing costs [3] - Strategic partnerships and cross-selling initiatives are prioritized to fuel growth, with a notable partnership leading to approximately $15 million in annualized new business wins [4] - The focus for 2026 includes capturing market share and expanding in growing markets, leveraging an efficient operating structure [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic plan to enhance the sales model and capitalize on growth opportunities, despite cautious customer sentiment due to market uncertainties [22] - The company expects revenue growth of 3%-9% year-over-year for Q1 2026, with a focus on maintaining operational efficiency [17] Other Important Information - The company successfully reduced SG&A expenses by 11% while revenue grew, demonstrating improved cost management [12] - The board of directors underwent a refreshment process, adding two independent directors to strengthen oversight and engagement [21] Q&A Session Summary Question: Margin trajectory and business recovery - Management indicated that they are poised for significant incremental margins as demand rebounds, with historical incremental margins between 15%-20% expected to improve [28] Question: Energy business visibility and sustainability - The energy business has doubled for two consecutive quarters, with a healthy pipeline for continued growth, driven by strong client relationships [32] Question: Healthcare vertical and M&A potential - HSP delivered about $14 million of inorganic growth, and while the company is not prioritizing M&A currently, they remain open to opportunities that maximize shareholder value [34][36] Question: Pricing environment - The company is experiencing some pricing pressure, with pay rates up 3.8% and bill rates up 2.5%, leading to a 40 basis points decline in margin [74]

Group 1 - The Hong Kong Stock Exchange announced that BOSS Zhipin-W's initial public offering (IPO) plan was conditionally approved and adopted on December 14, 2022, and became effective after the listing of Class A ordinary shares on December 22, 2022 [1] - On February 13, 2026, the company will allocate internal resources to purchase a total of 341,100 Class A ordinary shares (equivalent to 170,600 American Depositary Shares) in the open market [1] - The average cost per Class A ordinary share purchased (excluding all related expenses) is $8.70 [1]

经济观察网北京人力（600861）预计2025年净利润为10.5亿元至13亿元，同比增长32.68%至64.26%。 人力资源和社会保障部在2026年1月宣布，将出台应对人工智能影响促就业文件、制定新就业形态劳动 者权益保障办法等举措。这些政策可能为人力资源服务行业带来结构性机会，对北京人力等龙头企业形 成潜在利好。 以上内容基于公开资料整理，不构成投资建议。 根据北京人力于2026年1月27日发布的业绩预告，公司预计2025年年度实现归属于上市公司股东的净利 润为10.5亿元至13亿元，较上年同期增长32.68%至64.26%。业绩变动主要源于主业客户开发与服务价值 提升、成本费用优化，以及出售全资子公司股权确认的非经常性收益。 行业政策与环境 业绩经营情况 ...

Financial Data and Key Metrics Changes - Consolidated revenues for the quarter were $20.5 million, down $3.5 million or 15% from the prior year quarter [13] - Gross profit was $7.4 million with a gross margin of 36.1%, compared to $7.9 million and 33% from the prior year quarter [15] - Net loss from continuing operations was $150,000 or $0.00 per diluted share, an improvement from a loss of $684,000 or $0.01 per diluted share in the prior year quarter [18] Business Line Data and Key Metrics Changes - Contract staffing services revenues were $17.8 million, down $3.7 million or 17% from the prior year quarter [13] - Direct hire revenues increased to $2.7 million, up $200,000 or 8% from the prior year quarter [14] - Selling, general and administrative expenses were $7.7 million, down $700,000 or 9% from the prior year quarter [16] Market Data and Key Metrics Changes - The hiring environment for staffing services has been challenging due to over-hiring in 2021 and 2022, along with macroeconomic weaknesses [3][4] - Many businesses are implementing layoffs and hiring freezes, leading to lower volumes of business [4] - The company anticipates stabilization in the use of contingent labor as some businesses begin new projects [5] Company Strategy and Development Direction - The company is focusing on integrating AI into its operations to enhance recruiting and sales processes [6] - Plans to restore profitability during fiscal 2026 include streamlining operations and reducing SG&A expenses [17] - The company is also considering strategic alternatives to enhance shareholder value, including potential acquisitions [12][20] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through current challenges and restore growth and profitability [10] - The company has a strong balance sheet with substantial liquidity, positioning it well for future growth [10] - Management remains cautious in the near-term outlook but is committed to long-term improvements [20] Other Important Information - The company completed the acquisition of Hornet Staffing in fiscal 2025 and is looking for additional acquisition opportunities [20] - The current working capital ratio is 5.3 to 1, with $20.1 million in cash and no outstanding debt [19] Q&A Session Questions and Answers Question: What incentives would need to be put in place for management to consider a value realization event? - Management has existing employment agreements that provide necessary incentives, so no additional incentives are needed [24] Question: Is an activist investor takeover the only route towards getting a return for shareholders? - No, the board and management are committed to acting in the best interest of shareholders [25] Question: If the company was sold at a comparable multiple to BGSF's recent sale, why is the company not actively pursuing this? - The company evaluates proposals to maximize shareholder value and believes that any potential offer would be better than the current stock price [26] Question: When is it time for dramatic changes to correct the lower stock value? - Management agrees that changes are necessary and is working on several new initiatives [27] Question: Can you provide more color on what multiple offers you mentioned included? - Specific details cannot be disclosed at this time, but they are being evaluated [27]

（编辑 丛可心） 证券日报网讯 2月13日，外服控股在互动平台回答投资者提问时表示，根据公司披露的2025年第三季度 报告，前三季度，公司实现营收185.66亿元，同比增长16.65%；归属于公司股东的净利润5.21亿元，同 比增长3.88%。公司聚焦人力资源服务主业，持续推进专业化深耕，提升经营效率和盈利能力。股价波 动受市场行情、投资偏好等多种因素影响，敬请广大投资者注意二级市场交易风险。公司将努力做好经 营和管理，争取以更好的业绩来回报股东。 ...

Core Insights - Jinyou Group's establishment of its self-operated company in Spain marks a significant step in its globalization strategy, enhancing its service network across Europe and providing comprehensive human resource solutions for Chinese enterprises entering the Spanish and broader European markets [1][14] Group 1: Strategic Importance of Spain - Spain serves as a crucial gateway for Chinese companies entering the European market due to its geographical location, connecting Europe, Africa, and Latin America [4] - The bilateral trade between China and Spain has shown resilience, with trade volume exceeding $50 billion in 2024 and cumulative investments surpassing $11 billion, indicating deepening cooperation in various sectors [4] - The action plan for strengthening the comprehensive strategic partnership between China and Spain (2025-2028) is expected to further unlock cooperation potential [4] Group 2: Challenges for Chinese Enterprises - Chinese companies face significant challenges in human resources, including strict regulations on work and residence permits for foreign employees, which demand high compliance standards [6][7] - There is a mismatch in the supply and demand for technical talent in emerging sectors like renewable energy and high-end manufacturing, complicating local recruitment efforts [6] - Cultural differences across regions in Spain can hinder business negotiations and team management, necessitating the establishment of personal trust before formal cooperation [6] Group 3: Jinyou Group's Solutions - Jinyou Group's Jinyou GEO offers a comprehensive cross-border human resource service system, addressing key pain points for Chinese enterprises in Spain through services like overseas talent recruitment and payroll management [9] - The establishment of a localized professional service team aims to provide compliance support and cross-cultural management guidance, enhancing operational efficiency for Chinese companies [10] - The integration of AI technology into human resource processes is designed to improve compliance and efficiency, facilitating digital transformation and reducing management costs [10] Group 4: Collaborative Ecosystem Development - Jinyou Group aims to create a full-cycle, all-chain empowerment system for overseas expansion by leveraging its integrated ecosystem solutions and collaborating with its training and consulting brand [12] - The focus is on building a customized training and consulting service system that aligns with the different stages of overseas expansion, ensuring that companies can effectively meet their talent and management needs [12] - The establishment of the self-operated company in Spain is seen as a response to the growing demand for human resource services among Chinese enterprises, reinforcing Jinyou Group's commitment to supporting their global development [14]

Core Insights - The report highlights the emergence of "high prosperity spillover" in the AI sector, suggesting that while the fundamental elasticity may not match the high prosperity itself, there is still potential for elasticity in spillover markets [2][11] - It emphasizes the importance of basic bottom-line requirements for spillover markets, indicating that the prosperity cycle needs to confirm a clear bottom [11] - The report suggests that the valuation structure of high prosperity can break through historical averages, but the spillover structure may face challenges [11] Industry Summaries AI Sector - The report identifies specific industries benefiting from AI price spillover, recommending attention to fiberglass and optical fiber due to their favorable valuations and visible price increases [2][11] - Fiberglass is noted for its strong bargaining power in the global supply chain, with a valuation slightly above historical averages, indicating a favorable risk-reward profile [11] - The optical fiber sector is experiencing a recovery in traditional segments alongside expectations for AI business advancements, presenting a high short-term success rate [11] Real Estate - The report indicates that the most challenging period for the real estate sector may be over, with signs of marginal improvement in supply and demand dynamics [11] - Data shows a narrowing decline in key indicators, with a significant reduction in the year-on-year decline of second-hand housing transactions [11] - Policy measures are being implemented to stabilize the real estate market, focusing on risk management and ensuring the protection of livelihoods [11] Consumer Electronics - The report discusses the impact of the "old-for-new" policy on the home appliance market, noting significant sales volumes and revenue generated from this initiative [15][18] - It highlights the performance of various appliance categories, with a focus on the kitchen appliance sector, which is experiencing varied performance amid high base pressures [18] - The report anticipates that the 2026 "old-for-new" policy will continue to benefit leading brands with superior product efficiency and performance [18] Tourism and Hospitality - The report outlines the expected surge in domestic tourism during the extended Spring Festival holiday, predicting a significant increase in passenger transport volumes [21] - It notes a shift in consumer preferences towards high-quality accommodations and diverse travel experiences, driven by family and senior travelers [21] - The report suggests that the tourism market is experiencing a multi-faceted explosion, with emerging destinations gaining popularity [21]

Group 1: AI High Prosperity Spillover - The report reviews the storage and lithium battery market since September 2025, summarizing the basic rules of the "high prosperity spillover" trend, indicating that while the fundamental elasticity may not be as strong as the high prosperity itself, spillover trends can still exhibit elasticity [2][11] - It highlights that the spillover trend has basic bottom-line requirements, necessitating a clear confirmation of the prosperity cycle's bottom, including manageable demand risks and sufficient supply clearance [11] - The report suggests focusing on industries experiencing AI price spillover, recommending fiberglass due to its reasonable valuation and visible price increases, and optical fiber due to traditional recovery and short-term AI business progress [2][11] Group 2: January Policy Tracking - The report notes that the longest Spring Festival holiday in 2026 is expected to boost consumer spending, which is crucial for driving domestic demand in the first quarter and solidifying the foundation for economic recovery throughout the year [2][10] - It emphasizes the collaborative efforts of multiple ministries to accelerate support for the economy, particularly in consumption, equipment investment, and the private sector, with significant increases in government bond financing [10][13] - Local governments are proactively deploying economic work, moving away from a wait-and-see attitude, with many regions advancing their annual work deployment to early January [10][13] Group 3: January Inflation Analysis - The report discusses the January inflation data released by the National Bureau of Statistics, indicating a CPI increase of 0.2% year-on-year, down from 0.8% previously, and a PPI decrease of 1.4% year-on-year, with a month-on-month increase of 0.4% [3][12] - It identifies the divergence in inflation as being influenced by the timing of the Spring Festival, external factors, and weak demand, with a notable narrowing of the PPI decline primarily driven by rising copper prices [12][16] - The report also highlights that the CPI remains weak overall, with significant declines in food prices and core commodity CPI, reflecting ongoing challenges in the economy [12][16] Group 4: Home Appliance Industry Insights - The report indicates that the home appliance sector has seen significant sales through the "old-for-new" policy, with over 6.81 million units sold in January, generating substantial revenue [15][18] - It notes that the home appliance market is facing high base pressure in 2025, with a focus on core categories for subsidies, which are expected to benefit leading brands [18] - The report highlights the competitive landscape in the home appliance market, with leading brands gaining market share, particularly in the offline market, while online competition is intensifying [18][19] Group 5: Tourism and Service Industry Outlook - The report anticipates a significant increase in travel during the 2026 Spring Festival, with a projected 95 million passengers expected to travel by air, marking a 5.3% increase year-on-year [21] - It emphasizes the diverse recovery in the domestic tourism market, with family and senior travelers driving demand for high-quality accommodations and unique travel experiences [21][20] - The report suggests that the tourism sector is poised for a strong recovery, with a focus on cross-border travel and differentiated experiences becoming key growth drivers [21][20] Group 6: Banking Sector Analysis - The report discusses the recent approval for a major shareholder of Nanjing Bank to increase their stake above 15%, which is expected to unlock significant incremental capital for the bank [22][23] - It highlights the bank's strong performance, with a projected revenue growth of 10.5% and a net profit growth of approximately 8.1% for 2025, indicating a positive outlook for 2026 [22][23] - The report recommends Nanjing Bank as a buy due to its solid performance, high dividend yield, and the potential for valuation recovery driven by major shareholder support [22][23]