Career International(300662) 申万宏源·2024-11-01 11:53Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook despite short-term performance pressures due to weak market demand for recruitment [7]. Core Insights - The company reported a revenue of 8.516 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 18.77%. However, the net profit attributable to shareholders decreased by 10.96% to 135 million yuan [4][5]. - The flexible employment business continues to grow robustly, with a 20.59% year-on-year increase in revenue for this segment. The company successfully placed 13814 high-end management and technical personnel in the first three quarters [5][6]. - The digital transformation efforts are progressing well, with significant investments in technology amounting to 120 million yuan. The company has enhanced its operational capabilities through various digital platforms [6]. Financial Summary - For the third quarter of 2024, the company achieved a revenue of 2.975 billion yuan, a 23.12% increase year-on-year, while the net profit was 49.916 million yuan, down 9.60% from the previous year [4][5]. - The gross margin for Q3 2024 was reported at 6.87%, a decline of 1.17 percentage points compared to the same period in 2023 [4]. - The company’s total revenue projections for 2024 to 2026 are 11.985 billion yuan, 14.512 billion yuan, and 17.322 billion yuan, respectively, with corresponding net profits of 198 million yuan, 274 million yuan, and 330 million yuan [8].