Core Viewpoint - The article emphasizes the importance of vigilance among recent graduates during the peak recruitment season, highlighting four common job-seeking scams that they should be aware of to protect their financial interests [1][2]. Group 1: Types of Scams - The first type of scam is "paid internal referrals," where fraudsters impersonate HR or employees from reputable companies, promising quick job placements in exchange for fees [1]. - The second type is "false assessments," where scammers require job seekers to download unknown apps or click suspicious links, often leading to financial exploitation [2]. - The third type involves "high-paying part-time jobs," where individuals are lured with fake job offers and later asked to pay various fees under false pretenses [2]. - The fourth type is "training loans," where scammers convince job seekers to enroll in expensive training programs with promises of high-paying jobs, leading to significant debt [2]. Group 2: Reporting and Prevention Measures - The platform BOSS Zhipin has enhanced its reporting mechanism, allowing users to report suspicious activities easily, with verified reports leading to strict actions against violators [3]. - BOSS Zhipin has implemented AI technology to identify and review high-risk job postings, aiming to create a safer job-seeking environment [5]. - The company provides four risk prevention guidelines for job seekers: use official channels for applications, avoid paying any fees, verify the credentials of recruiters, and protect personal information from unverified sources [5].

Core Insights - The online recruitment sector is experiencing a "head effect," with leading platforms outperforming in user scale, revenue, and technology application since 2025 [1] - The recruitment industry is entering a new competitive cycle characterized by "scale x efficiency," accelerated by the implementation of AI [1] User Metrics - As of April 2025, the total monthly active users (MAU) for job recruitment apps reached approximately 113 million, a year-on-year increase of 5.5% [2] - The leading platforms, BOSS Zhipin, Zhilian Recruitment, and 51Job, had MAUs of 51.65 million, 26.58 million, and 17.65 million respectively, with a cumulative unique user count of 95.88 million [2] - By June 2025, the cumulative unique users for these three platforms increased to 97 million, adding 1.12 million users since April [2] User Engagement - BOSS Zhipin maintained its growth post-spring recruitment, with MAU reaching 54 million in June 2025 [3] - The top three platforms accounted for 94.1% of the total cumulative user engagement time in April 2025, which increased to 94.6% by June [3] Market Share - BOSS Zhipin's market share increased from 62% in April 2025 to 64.5% in June 2025 [4] Customer Acquisition Costs - Despite the increase in active users, leading online recruitment platforms have managed to control customer acquisition costs. BOSS Zhipin reported a 16.5% year-on-year increase in MAU while its sales and marketing expenses decreased by 23% [5] - This trend is attributed to the "head effect," where leading platforms benefit from first-mover advantages, scale effects, resource accumulation, and brand influence [5] Revenue Trends - Zhilian Recruitment's revenues for fiscal years 2024 and 2025 were AUD 635 million and AUD 561 million, reflecting a year-on-year decline of 13.2% [6] - In contrast, BOSS Zhipin's revenues for the same periods were CNY 6.807 billion and CNY 7.761 billion, showing a year-on-year increase of 14% [6] - BOSS Zhipin's growth is attributed to companies tightening budgets, leading them to prefer top platforms, and its expansion from a white-collar recruitment platform to a comprehensive platform covering blue-collar and lower-tier markets [6] AI Integration - The online recruitment industry is increasingly focusing on AI, similar to the discussions around mobile internet in 2013 [7] - AI is seen as a key factor in reducing transaction costs and improving matching efficiency in the dual-sided market of job seekers and employers [7] Competitive Advantages - Leading platforms have advantages in AI application due to their larger user pools, which provide better data for training models [8] - These platforms cover the entire service chain from job recommendations to interviews, allowing for more data accumulation and efficiency [8] Investment and Compliance - BOSS Zhipin announced an $80 million dividend and a $250 million buyback plan to enhance investor interest [9] - The online recruitment sector is also facing increased regulatory scrutiny, necessitating ongoing investments in risk control and compliance [9] - The integration of AI is expected to shift the industry focus from "traffic competition" to "efficiency competition," with leading platforms benefiting from user scale, organizational efficiency, and cash returns [9]

Core Viewpoint - The article highlights a positive outlook on Kanzhun Limited (NASDAQ: BZ) (2076.HK), citing better-than-expected results and guidance, along with a change in the company's cash distribution strategy that may attract more investors [1]. Group 1: Company Overview - Kanzhun Limited is positioned as a stock with promising near-term prospects, driven by its recent performance and strategic changes [1]. Group 2: Investment Strategy - The Asia Value & Moat Stocks research service focuses on identifying value investment opportunities in Asia, particularly in Hong Kong, emphasizing deep value balance sheet bargains and wide moat stocks [2].

Core Insights - BOSS Zhipin (BZ.US) shares rose over 7%, closing at $23.68, following the release of its financial report [1] - In Q2 2025, BOSS Zhipin reported revenue of 2.102 billion yuan, a 9.7% increase compared to the same period in 2024 [1] - The CEO Zhao Peng indicated a recovery trend in the recruitment market and limited impact from external competition on the recruitment business [1] Company Updates - BOSS Zhipin announced the appointment of Chen Xu as the new president, effective August 20, 2025, to optimize governance structure and enhance organizational efficiency [1] - Following this appointment, Chen Xu will no longer serve as Chief Marketing Officer but will continue as an executive director [1]

Group 1: OptimizeRx - OptimizeRx provides consumer and physician platforms to assist patients in affording and complying with their medications and healthcare products [1] - The company has a Zacks Rank of 1 (Strong Buy) and the Zacks Consensus Estimate for its current year earnings increased by 26.4% over the last 60 days [1] - OptimizeRx's shares gained 33.4% over the last three months, outperforming the S&P 500's gain of 9.5% [2] - The company possesses a Momentum Score of A [2] Group 2: Kanzhun - Kanzhun operates an online recruitment platform primarily in China [2] - The company also has a Zacks Rank of 1 and the Zacks Consensus Estimate for its current year earnings increased by 1.9% over the last 60 days [2] - Kanzhun's shares gained 23.3% over the last three months, again outperforming the S&P 500's gain of 9.5% [3] - The company possesses a Momentum Score of A [3] Group 3: Arista Networks - Arista Networks provides cloud networking solutions for data centers and cloud computing environments [3] - The company holds a Zacks Rank of 1 and the Zacks Consensus Estimate for its current year earnings increased by 9.8% over the last 60 days [3] - Arista Networks' shares gained 42.2% over the last three months, significantly outperforming the S&P 500's gain of 9.5% [4] - The company possesses a Momentum Score of A [4]

Core Insights - BOSS Zhipin (BZ.US) shares rose over 7% to $23.68 following the release of its financial report for Q2 2025, which showed a revenue of 2.102 billion yuan, representing a 9.7% increase compared to the same period in 2024 [1] Company Developments - The company announced the appointment of Chen Xu as President effective August 20, 2025, a new position aimed at optimizing governance structure and enhancing organizational efficiency, reporting directly to founder and CEO Zhao Peng [1] - Chen Xu will no longer serve as Chief Marketing Officer but will continue as an executive director [1] Industry Trends - The recruitment market is showing signs of recovery, with limited impact from external competitive pressures on the recruitment business [1]

Core Insights - BOSS Zhipin reported a recovery in the recruitment market demand in Q2 2025, with significant improvements in user ecosystem and AI applications across various business areas [1][3]. Financial Performance - In Q2 2025, the company achieved revenue of 2.102 billion yuan, with 99% of this revenue coming from the recruitment segment, which contributed 2.078 billion yuan [1]. - The growth in recruitment revenue was driven by increased penetration in emerging markets, particularly among blue-collar workers, second-tier cities, and small to medium-sized enterprises [1]. User Engagement - The platform's user base continued to expand, with over 30 million new users added from January to July 2025. The average monthly active users (MAU) reached 63.6 million in Q2 2025 [1]. - There was a notable increase in job postings for fresh graduates, with new positions rising over 18% year-on-year during the peak hiring season in June and July [3]. AI Integration - The number of users utilizing AI tools for job searching and recruitment continued to grow in Q2 2025, with ongoing experiments and iterations of AI products enhancing user experience [4]. - AI tools were employed to assist job seekers with resume optimization and interview preparation, leading to improved efficiency in job matching [5]. Safety and Compliance - The company enhanced its risk control capabilities by increasing investments in AI technology for user safety, resulting in a higher detection rate of violations and fraudulent activities [6]. - In Q2 2025, over 50 million risk alerts were sent to users, warning them about common scams and fraudulent job offers [6]. Social Responsibility - BOSS Zhipin has been actively promoting employment for key demographics, including blue-collar workers and individuals with disabilities, through various initiatives and partnerships [7]. - The company has also contributed 3.25 million yuan for disaster relief and recovery efforts in several regions since June 30, 2025 [7].

Financial Performance - The company achieved total revenue of RMB 2.1 billion, reflecting a year-on-year increase of 9.7% [5] - Net income reached RMB 710 million, showing a significant year-on-year growth of 70.4% and a net profit margin exceeding 33% [5] - Adjusted operating profit was RMB 880 million, up 33% year on year, with share-based compensation expenses decreasing by nearly 10% quarter on quarter [5][24] - The average verified monthly active users reached 63.56 million, up 16.5% year on year [5] Business Line Performance - Revenue contributions from blue-collar workers, lower-tier cities, and small and medium-sized enterprises increased compared to last year [6] - The total number of paid enterprise customers reached 6.5 million, up 10% year on year [9][22] - Recruitment demand from small and medium-sized enterprises showed pronounced recovery, driving revenue contributions [22] Market Dynamics - The recruitment market showed recovery, with job postings increasing by approximately 20% year on year in July [8] - The number of new job postings for fresh graduates grew by over 18% year on year [7] - The company observed a recovery in the internet industry, with active job postings reaching a new high since 2021 [9] Company Strategy and Industry Competition - The company is making ongoing progress in AI, enhancing user experience and operational efficiency [4][10] - AI tools are being integrated into recruitment processes, improving job seeker safety and operational efficiency [11][18] - The company completed a Hong Kong secondary share offering of HKD 2.2 billion to enhance liquidity and broaden the shareholder base [19][28] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of recruitment demand recovery, citing improved job seeker to recruiter ratios [36] - The company expects revenue growth to accelerate, projecting total revenues for 2025 to be between RMB 2.13 billion and RMB 2.16 billion, a year-on-year increase of 11.4% to 13% [29] - Management emphasized the importance of shareholder returns, announcing an annual dividend policy and a share repurchase program [20][63] Other Important Information - The company reported a strong cash position of RMB 16 billion and net cash provided by operating activities of RMB 1.052 billion, up 21% year on year [27][28] - Share-based compensation expenses have been controlled, decreasing for four consecutive quarters [24][66] Q&A Session Summary Question: What are the drivers behind the recruitment demand recovery? - Management noted that smaller enterprises are recovering faster, with companies having fewer than 20 employees contributing nearly 20% to revenue [33] - The impact of food delivery competition on recruitment demand was observed to be minor [34] Question: How should margins be viewed going forward? - Management indicated that margin improvement is expected to be gradual, driven by the company's business model and effective cost control [40][41] Question: What are the plans for capital markets and liquidity improvement? - The company aims to improve liquidity in Hong Kong through public offerings and has successfully increased trading volume post-offering [62][63]

Core Insights - BOSS Zhipin reported a positive financial performance for Q2 2025, with revenue growth driven by an expanding user base and improved market conditions in the recruitment sector [1][2] Revenue and Market Performance - In Q2 2025, the company achieved revenue of 2.102 billion yuan, a year-on-year increase of 9.7%, surpassing market expectations [1] - Revenue from the recruitment segment was 2.078 billion yuan, up 9.8% year-on-year, primarily due to increased market penetration and contributions from blue-collar jobs and small to medium enterprises [1][2] - The number of new job postings on the platform increased by approximately 20% year-on-year in July, indicating a recovery in the overall recruitment market [2] Profitability and Cost Management - The company reported a net profit of 710 million yuan for Q2 2025, showing significant growth, while adjusted operating profit rose by 33.4% to 880 million yuan [3] - Sales and marketing expenses decreased by 23% year-on-year to 420 million yuan, marking a historical low as a percentage of revenue [3] Shareholder Returns - BOSS Zhipin announced an annual dividend policy, with an expected total cash dividend of approximately 80 million USD to be distributed in October 2025 [4] - The existing share buyback plan was extended for an additional 12 months, with a maximum buyback amount increased to 250 million USD [5] AI Integration and User Engagement - The number of users utilizing AI tools for job searching and recruitment continued to grow, with AI applications enhancing user experience and operational efficiency [6] - AI tools provided job seekers with personalized content and improved matching capabilities, leading to higher success rates in job placements [6] User Safety and Security Measures - The company enhanced its risk control capabilities through AI, improving the identification of violations and reducing response times for user reports [7] - Over 50 million risk alerts were sent to users in Q2 2025, warning them about common scams and fraudulent activities [7]

Group 1 - BOSS Zhipin (02076) announced that Ms. Dong Mengyuan has resigned from her positions as independent non-executive director, chairman of the audit committee, member of the remuneration committee, and member of the corporate governance committee effective August 20, 2025 [1] - Ms. Liu Hongyu has been appointed as the chairman of the audit committee and a member of the corporate governance committee [1] - Mr. Li Yan has been appointed as a member of the remuneration committee [1] - Mr. Chen Xu has been appointed as the company's president [1]