证券代码：300662 证券简称：科锐国际 公告编号：2025-024 北京科锐国际人力资源股份有限公司 关于使用暂时闲置自有资金进行现金管理的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 北京科锐国际人力资源股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开第四届董事会第八次会议、第四届监事会第八次会议，审议通过了《关 于使用暂时闲置自有资金进行现金管理的议案》，同意公司及全资子公司、控股 子公司在不影响公司正常经营的前提下，在不超过人民币 10 亿元额度内，使用 公司及全资子公司、控股子公司闲置自有资金择机购买保本、低风险的现金管理 类理财产品，在股东会审议通过之日起 12 个月内，资金可在上述额度内滚动使 用并授权公司董事长在上述投资额度内签署相关合同文件，公司财务负责人负责 组织实施。 本次现金管理事项不构成关联交易，亦不构成《上市公司重大资产重组管理 办法》规定的重大资产重组。本次现金管理事项尚需提请股东会审议。具体情况 如下： 一、现金管理概述 （一）投资目的 在不影响正常经营及风险可控的前提下，使用暂时闲置的自有资金进 ...

证券研究报告 | 2025年04月28日 科锐国际（300662.SZ） 优于大市 2024 年经营效能提升显著，2025 年开局良好 2024Q4 归母净利润同比+44%，与业绩快报一致。2024 年，公司营收 117.88 亿元/+20.5%，归母净利润 2.05 亿元/+2.4%，扣非后归母净利润 1.39 亿元 /+3.6%，与业绩快报基本一致符合预期，但收入利润表现未达到 2023 年限 制性股票解锁目标。2024Q4，公司营收 32.72 亿元/+25.4%，归母净利润 0.70 亿元/+44.3%，扣非归母净利润 0.27 亿元/+42.2%，第四季度利润增速转正。 灵活用工维持高周转效率，猎头经营环比继续改善。2024 年，灵活用工业 务营收 111.36 亿元/+22.4%，毛利率 5.5%/-0.8pct，期末灵活用工在管 人数 4.55 万人/+28.2%，期内累计派出人次 49.95 万人/+30.3%，2025Q1 末技术研发类岗位在职人数占比达 68%/+7pct；猎头业务收入 3.75 亿元 /-11.6%，毛利率 26.0%/-0.6pct，环比 24H1（收入同比-15%/毛 ...

Core Insights - The company, Beijing Keri International Human Resources Co., Ltd., achieved revenue and net profit growth in its 2024 annual report, but experienced a significant decline in net cash flow from operating activities [1][12]. Financial Performance - The company reported total revenue of 11,787,660,144.16 yuan, a 20.55% increase from 9,778,499,802.73 yuan in the previous year [2]. - The flexible employment business generated 11,136,854,475.11 yuan, accounting for 94.48% of total revenue, with a year-on-year growth of 22.42% [2]. - Net profit attributable to shareholders was 205,349,967.12 yuan, up 2.42% from 200,501,198.39 yuan [3]. - Basic earnings per share increased to 1.0434 yuan, a 2.33% rise from 1.0196 yuan [4]. Expense Analysis - Sales expenses decreased by 8.97% to 166,139,351.69 yuan, reflecting a strategic reduction in market investment [5]. - Management expenses rose by 8.42% to 277,039,614.96 yuan, driven by increased personnel costs and stock issuance [6]. - Financial expenses surged by 124,118.18% to 28,427,528.20 yuan due to new long-term borrowings and reduced interest income from deposits [7]. Research and Development - R&D expenses remained stable at 41,280,794.03 yuan, with a focus on digital product development and internal information systems [8]. - The number of R&D personnel decreased by 21.67% from 323 to 253, which may impact innovation capabilities [10]. - Capitalized R&D expenditures accounted for 75.20% of total R&D investment, indicating strong project conversion capabilities [11]. Cash Flow Insights - Net cash flow from operating activities fell by 32.40% to 118,299,677.73 yuan, attributed to increased business pre-financing [12]. - Investment cash inflows rose by 37.08% to 29,977,821.37 yuan, while outflows decreased by 14.74% to 96,611,675.46 yuan [13]. - Financing cash inflows increased by 61.09% to 6,976,156,878.50 yuan, with outflows rising by 53.33% to 7,251,891,099.42 yuan [14].

Key Points - The core viewpoint of the articles highlights the financial performance and stock trading activities of Keri International, indicating a positive trend in revenue and net profit growth for 2024, alongside notable changes in shareholder structure and trading dynamics [1][2][3] Trading Information Summary - On April 25, Keri International's stock closed at 34.06 yuan, up 5.45%, with a turnover rate of 2.83%, trading volume of 55,500 shares, and a transaction value of 188 million yuan [1] - The capital flow on the same day showed a net inflow of 18.22 million yuan from institutional investors, while retail investors experienced a net outflow of 15.77 million yuan [1] Shareholder Structure Changes - As of April 18, 2025, the number of shareholders in Keri International decreased to 8,982, a reduction of 156 shareholders or 1.71% compared to April 10 [1][3] - The average number of shares held per shareholder increased from 21,500 to 21,900 shares, with the average market value of holdings reaching 682,300 yuan [1] Financial Performance Highlights - Keri International's 2024 annual report indicates a total revenue of 11.788 billion yuan, representing a year-on-year increase of 20.55% [2][3] - The net profit attributable to shareholders was 205 million yuan, up 2.42% year-on-year, while the net profit excluding non-recurring items was 139 million yuan, reflecting a 3.57% increase [2] - In Q4 2024, the company reported a quarterly revenue of 3.272 billion yuan, a 25.44% increase year-on-year, and a net profit of 70.1 million yuan, which is a 44.25% increase compared to the same quarter last year [2][3]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price based on the last closing price of 34.06 [1][15]. Core Insights - The company achieved a total revenue of 11.788 billion yuan in 2024, representing a year-on-year growth of 20.55%. The net profit attributable to shareholders was 205 million yuan, up 2.42% year-on-year [4][9]. - In Q1 2025, the company reported a revenue of 3.303 billion yuan, a year-on-year increase of 25.13%, and a significant net profit growth of 42.15% [4][5]. - The flexible employment business remains the core driver of revenue growth, with the number of outsourced positions increasing to 47,400 by the end of March 2025, contributing to a revenue growth rate of 22.42% in this segment [5][6]. Financial Performance - The company's total assets reached 4.025 billion yuan at the end of 2024, a 7.37% increase from the beginning of the year. The equity attributable to shareholders was 2.055 billion yuan, up 10.93% [4][6]. - The gross margin for 2024 was 6.36%, a decrease of 0.95 percentage points year-on-year, primarily due to the rapid expansion of lower-margin businesses [6][8]. - The net profit margin for 2024 was 1.74%, down 0.31 percentage points year-on-year, but the company effectively controlled various expense ratios [6][8]. Business Strategy - The company focuses on structural demand in the recruitment market, leveraging technological innovation and industry integration, particularly in high-end manufacturing, artificial intelligence, and digitalization [7][8]. - The report emphasizes the integration of platform products and the enhancement of AI-driven recruitment matching systems to improve operational efficiency [8][9]. - The company is expected to achieve net profits of 271 million yuan, 336 million yuan, and 395 million yuan for 2025, 2026, and 2027, respectively, with corresponding growth rates of 31.99%, 24.03%, and 17.42% [8][9].

Core Insights - The company reported a revenue of 11.79 billion in 2024, representing a year-on-year increase of 20.55%, with a net profit attributable to shareholders of 205 million, up 2.42% year-on-year [1] - In Q1 2025, the company achieved a revenue of 3.303 billion, marking a 25.1% year-on-year growth, with a net profit of 57.78 million [1] - The increase in revenue and net profit in Q4 2024 and Q1 2025 is attributed to increased government subsidies and improved operational performance [1] Revenue Growth - The flexible employment segment generated 11.14 billion in 2024, a 22.4% increase year-on-year, while the mid-to-high-end talent search revenue decreased by 11.6% to 375 million [2] - The number of flexible employment placements reached 500,000, a 30% increase from the previous year, with IT R&D positions being the main growth driver [2] - By the end of 2024, the company had over 45,500 outsourced employees in flexible employment, a 28.16% increase year-on-year, with technical R&D positions making up 68.2% of the total [2] AI and Digital Transformation - In Q1 2025, the company placed 145,700 flexible workers, with over 47,400 outsourced employees, a 31% year-on-year increase, and technical R&D positions reaching a new high of 68.3% [2] - The company is accelerating the application of AI technology and digital transformation, enhancing delivery efficiency and management effectiveness [2] - The interconnectivity platform "He Wa" delivered 15,000 positions, a 120% year-on-year increase [2] Profit Forecast and Investment Rating - The trend of industrial upgrading is driving a structural recovery in the domestic recruitment market, leading to accelerated revenue growth for the company [3] - The net profit forecast for 2025-2026 has been raised to 268 million and 317 million respectively, with a new forecast for 2027 at 355 million [3] - The latest closing price corresponds to a price-to-earnings ratio of 25, 21, and 19 for 2025-2027, maintaining a "buy" rating [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown significant revenue growth, with a 20.55% year-on-year increase in 2024 revenue, reaching 11.79 billion yuan, and a slight increase in net profit by 2.42% to 205.35 million yuan [7] - The flexible employment model has driven revenue acceleration, with a 22.4% increase in this segment, while traditional recruitment services have seen a decline [7] - The integration of AI technology is expected to enhance operational efficiency and broaden business opportunities, with a notable increase in the number of outsourced positions in technical roles [7] Financial Performance Summary - Total revenue projections for the company are as follows: 2023A: 9.779 billion yuan, 2024A: 11.788 billion yuan, 2025E: 13.965 billion yuan, 2026E: 16.055 billion yuan, and 2027E: 18.299 billion yuan, with respective growth rates of 7.55%, 20.55%, 18.47%, 14.96%, and 13.98% [1] - Net profit forecasts indicate a recovery, with 2024A at 205.35 million yuan, 2025E at 268.04 million yuan, 2026E at 316.53 million yuan, and 2027E at 355.41 million yuan, reflecting growth rates of -31.05%, 2.42%, 30.53%, 18.09%, and 12.29% [1] - The latest diluted EPS is projected to be 1.04 yuan for 2024, increasing to 1.81 yuan by 2027, with corresponding P/E ratios decreasing from 32.64 to 18.86 over the same period [1] Business Segment Analysis - The flexible employment segment generated 111.4 billion yuan in 2024, with a 22.4% year-on-year increase, while mid-to-high-end talent search revenue decreased by 11.6% to 3.75 billion yuan [7] - The number of outsourced employees in flexible employment reached over 50,000, a 30% increase from the previous year, with a significant focus on IT development roles [7] - The company has accelerated the application of AI technology, leading to a 120% year-on-year increase in job placements through its digital platform [7]

Group 1 - The company actively embraces technological transformation with a total technology investment of 169 million yuan, resulting in a 44.18% year-on-year increase in new technology business revenue [1] - Significant progress has been made in internal information and digital construction, financial management, and outsourced employee management [1] - The company has integrated advanced technologies such as Agentic, RAG, and reinforcement learning, continuously upgrading industry-level pre-trained language models and matching systems to enhance AI matching capabilities in recruitment scenarios [1] Group 2 - The company has expanded its overseas business footprint, establishing over 10 branches in countries including the UK, USA, Netherlands, Malaysia, Singapore, Germany, Australia, and Switzerland, aligning with global development trends [1] - The company aims to strengthen its talent strategy foundation for enterprises in the new productivity sector while actively embracing the AI technology revolution [1] - The company reported a record revenue of 11.788 billion yuan, a year-on-year increase of 20.55%, and a net profit of 205 million yuan, reflecting a stable recovery trend [3]

北京科锐国际人力资源股份有限公司 董事会对独董独立性评估的专项意见 根据《上市公司独立董事管理办法》《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第2号——创业板上市公司规范运作》 等要求，北京科锐国际人力资源股份有限公司（以下简称"公司"）董事会就第 四届董事会独立董事邢世鸿女士、荀恩东先生、姜俊禄先生的任职经历结合3名 独立董事出具的《独立董事关于独立性自查情况的报告》，对3名独立董事独立 性情况进行了评估，并出具如下评估专项意见： 经核查第四届董事会独立董事邢世鸿女士、荀恩东先生、姜俊禄先生的任职 经历以及签署的相关自查文件，上述人员不存在以下情形： （一）在上市公司或者其附属企业任职的人员及其配偶、父母、子女、主要 社会关系； （二）直接或者间接持有上市公司已发行股份百分之一以上或者是上市公司 前十名股东中的自然人股东及其配偶、父母、子女； （八）法律、行政法规、中国证监会规定、证券交易所业务规则和公司章程 规定的不具备独立性的其他人员。 北京科锐国际人力资源股份有限公司 2025年4月25日 （四）在上市公司控股股东、实际控制人的附属企业任职的人员及其配偶、 父母、子女； ...

北京科锐国际人力资源股份有限公司 章程 （2025 年 4 月） | 第一章 | 总则 | 1 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 2 | | 第三章 | 股份 | 2 | | 第一节 | 股份发行 2 | | | 第二节 | 股份增减和回购 3 | | | 第三节 | 股份转让和质押 5 | | | 第四章 | 股东和股东大会 | 5 | | 第一节 | 股东 5 | | | 第二节 | 股东大会的一般规定 7 | | | 第三节 | 股东大会的召集 11 | | | 第四节 | 股东大会的提案与通知 12 | | | 第五节 | 股东大会的召开 14 | | | 第六节 | 股东大会的表决和决议 16 | | | 第五章 | 董事会 | 20 | | 第一节 | 董事 20 | | | 第二节 | 独立董事 23 | | | 第三节 | 董事会 26 | | | 第四节 | 董事会专门委员会 31 | | | 第五节 | 董事会秘书 32 | | | 第六章 | 总经理及其他高级管理人员 | 34 | | 第七章 | 监事会 | 35 | | 第一节 | 监事 ...