Shulou(Shulou.com)11/24 Report--

Before August 29, BOSS directly hired to release the financial report for the second quarter of 2023. Financial report data shows, In the second quarter BOSS direct employment achieved 1.488 billion yuan revenue, Year-on-year growth of 33.7%. In the same period, the company achieved a net profit of 310 million yuan, an increase of 234.7% year-on-year. Under non-GAAP, the company achieved an adjusted net profit of 568 million yuan in the second quarter, up 134.6% year-on-year.

The increase in revenue is due to the growth of paying users of the platform. Data show that the platform has paid 4.5 million users in the past 12 months, driven by companies with strong recruitment demand. Steady earnings performance drove BOSS's share price up, rising more than 9.96% before the U.S. stock market on August 29.

The continuous expansion of user scale is the cornerstone of BOSS direct employment revenue growth. According to the second quarter data, the number of monthly active users (MAU) directly hired by BOSS reached 43.6 million, a record high. This growth mainly comes from student users, blue-collar users and users in fourth and fifth tier cities, demonstrating the influence and attraction of BOSS direct employment in various market segments.

Tianfeng Securities believes that the current online recruitment penetration rate in China is still at a relatively low level. At present, China has more than 2 billion white collar workers and more than 4 billion blue collar workers. According to the average of 24 months for Chinese white-collar workers to change jobs, the average time for a job change is 2 months; the frequency of a blue-collar active job hunting and job-hopping is 4-5 times a year, and the average job change cycle is two weeks. The MAU ceiling of online recruitment in China is about 110 million people, which shows that BOSS direct employment still has huge growth space in user penetration rate.

From the external environment, the growth of BOSS direct users in the second quarter is inseparable from the recovery of all walks of life. On the job seeker side, graduates entered the job market in June and July, and the demand for part-time jobs in summer was strong, ushering in a small peak in job hunting. At the recruiter end, from the perspective of economic fundamentals, the profit recovery trend of the enterprise end is certain. With the implementation of subsequent policies, the recovery of the enterprise end will gradually accelerate, and the recruitment demand will also recover and accelerate. Especially in service industry, supply chain logistics and other industries, the platform position growth rate is obvious.

In order to improve user harvest and experience, BOSS direct recruitment in the second quarter realized more efficient matching between job seekers and enterprises by optimizing algorithms and products. In the aspect of algorithm, BOSS direct employment optimizes the algorithm recommendation logic, which expands the exposure opportunity of non-hot posts and the city and industry selection range of job seekers. At the product level, BOSS direct recruitment guides recruiters to optimize recruitment descriptions, encourages job seekers to improve their resumes, and adjusts the logic of information display to reduce the information gap between job seekers.

Since the beginning of this year, with the sustained recovery of the national economy, the employment stabilization policy has been effective, and the employment situation has generally improved. However, the total employment pressure and structural problems still exist, and continuous efforts are needed to expand employment and improve employment quality. Under the background of all-out efforts to strive for economy and stable employment, BOSS direct employment, as a bridge between job seekers and enterprises, is more prominent in both commercial value and social value, and it is reasonable to realize steady growth.

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