2025-03-11 13:02Financial Performance - In Q4 2024, the company achieved GAAP revenue of RMB1.82 billion, a 15% year-on-year increase [4] - Adjusted net income for Q4 reached RMB720 million, reflecting a 15% year-on-year growth [4] - For the full year 2024, GAAP revenue was RMB7.36 billion, up 24% year-on-year [5] - Adjusted net income for the full year was RMB2.71 billion, a 26% year-on-year increase [5] - Adjusted operating income for 2024 was RMB2.32 billion, rising by 41% year-on-year [5] - Share-based compensation expenses as a percentage of revenue decreased by 2.3 percentage points compared to 2023 [5] - The company reported a historical high adjusted operating margin of 36.1% in Q4 [24] Business Lines and User Metrics - Average verified monthly active users (MAU) on the app increased by 28% year-on-year to 52.7 million in Q4 [4] - The company attracted nearly 49.5 million new verified users in 2024, setting a record for annual user growth [5] - Revenue contribution from blue-collar segments rose to 38% in 2024, with the manufacturing sector showing the fastest growth [8][9] - The number of paid enterprise customers reached 6.1 million, marking a 17% year-on-year growth [22] Market Data and Trends - The recruitment market showed signs of stabilization towards the end of 2024, despite challenges [21] - Post-Chinese New Year, key metrics such as active users and job postings reached historical highs [18] - AI-related job postings surged by over 50% year-on-year, indicating a revitalized ecosystem for emerging business [19] Company Strategy and Industry Competition - The company is committed to enhancing user experience through continuous product and service optimization [10] - AI implementation is a key focus, with applications aimed at improving management efficiency and reducing costs [16] - The company plans to explore AI applications further, with a roadmap for new services [41] Management Commentary on Future Outlook - Management expects total revenues for Q1 2025 to be between RMB1.9 billion and RMB1.92 billion, reflecting a year-on-year increase of 11.5% to 12.7% [29] - The company aims for a non-GAAP operating profit target of RMB3 billion for 2025, a 30% increase from 2024 [54] Other Important Information - The company repurchased approximately $229 million worth of shares in 2024, accounting for 3.7% of total outstanding shares [20] - Cash position stood at RMB14.7 billion as of December 31, 2024, supporting future growth initiatives [28] Q&A Session Summary Question: Impact of AI boom on online recruitment industry - Management noted a significant increase in AI-related job postings and active searches, indicating a shift in recruitment dynamics [32][34] Question: Future roadmap for AI product development - The company plans to continue investing in AI applications and has already established a strong computing power base [39][41] Question: Recruitment demand across different enterprise sizes and industries - Management highlighted strong sequential growth in recruitment demand, particularly in AI-related jobs [46] Question: Customer acquisition cost and marketing plans for 2025 - There are no major marketing campaigns planned for 2025, with a focus on user growth and brand awareness [52] Question: Revenue contribution from blue-collar business and client feedback - The blue-collar segment is growing, with significant contributions from the HaiLuo program [56]