2025-05-22 13:02Financial Performance - The company achieved GAAP revenue of RMB 1.92 billion, reflecting a 13% year-on-year increase [7] - Net income reached RMB 510 million, representing a 112% year-on-year growth [7] - Adjusted operating income was RMB 690 million, with an adjusted operating margin of 36%, up 13 percentage points year-on-year [7][28] - Total operating costs decreased by 8% year-on-year to RMB 1.5 billion, with share-based compensation expenses down by 13% year-on-year [27][29] - Net cash provided by operating activities was RMB 1 billion, up 11% year-on-year [30] Business Line Performance - The average verified monthly active users on the Foss Shipping app reached 57.56 million, up 24% year-on-year [10] - Revenue from enterprises with fewer than 100 employees hit a record high contribution for the period, driven by the growth of smaller-sized companies [11] - Blue collar new users accounted for over 45% of total users, driving their share of revenue up to more than 39% [11] Market Data - Average new job postings grew 17% year-on-year from January to April, with total paid enterprise customers increasing to 6.38 million, up 2012% year-on-year [12] - Recruitment demand for blue collar workers has been steadily rebounding since April, with manufacturing recruitment showing resilience despite tariff impacts [13] Company Strategy and Industry Competition - The company is focused on driving profitability and has made solid progress in AI applications to enhance operational efficiency [6][14] - Management remains cautious about the competitive landscape, noting that while AI technology is important, no revolutionary changes have been observed yet [56] Management Commentary on Operating Environment and Future Outlook - Management noted that the impact of the tariff war on business has not intensified, and hiring demand has shown a recovery trend since the Chinese New Year [6][12] - The company is optimistic about the year ahead, with plans to continue focusing on high-impact priorities to enhance operational certainty [7][23] Other Important Information - The company has a strong cash position of RMB 14.8 billion as of March 31, 2025, providing financial flexibility for growth initiatives [31] - For Q2 2025, the company expects total revenues to be between RMB 2.05 billion and RMB 2.08 billion, representing a year-on-year increase of 7% to 8% [31] Q&A Session Summary Question: How has hiring demand evolved since the start of the tariff war? - Management indicated that the overall supply and demand relationship has continued to improve, with new job postings maintaining good growth rates [35][36] Question: What feedback has been received regarding AI features, and what are the plans for monetization? - Management reported positive feedback from AI product testing, with plans for gradual monetization as efficiency improvements are observed [41][44] Question: Are there any expected changes in the competitive landscape due to AI adoption? - Management expressed a conservative view, noting that while AI is important, no significant changes have been observed in the competitive landscape yet [54][56]