Career International Key Recommendation

English summary

Q2 Update: Q2 revenue growth expected at 15%-20%, non-GAAP net profit growth expected above 20%. Maintain 2026 full-year profit target of 360M RMB (excluding AI product revenue), +15% YoY. Q2 flexible workforce headcount net increase of over 1,700 (including nearly 900 after-sales installation and O&M engineers, over 270 road test/measurement personnel, over 100 IT R&D personnel), flexible work business maintains double-digit growth; Q2 recruitment business continues Q1 growth trend, AI improves recruitment efficiency by 50%+; Q2 Hewa offer revenue doubled, offer unit price maintained growth, revenue doubled, Q1 personnel optimization reduced costs, full-year target to turn profitable; mina payment method undecided, focus on overseas clients. Impact of stricter social insurance contributions on Career International: The company has generally paid social insurance in full for its flexible work business; a very small number of clients use a one-price model; the scale of outsourced labor dispatch is only a few thousand people, a very low proportion, and downstream outsourcing vendors' social insurance non-compliance has minimal impact on the company. ...