[Today's focus]

BOSS Direct Employment-W (02076.HK) Announces Annual Results, Adjusted Net Profit Reaches 2.56 Billion Yuan; Total Revenue for the First Quarter Is Expected to Increase by 28.3% to 30.7%

BOSS Direct Recruitment-W (02076.HK) announced that revenue for the fourth quarter of 2023 was RMB 1,580.2 million, an increase of 46.0% over RMB 1,082.3 million for the same period in 2022. Revenue for the full year of 2023 was RMB 5,952.0 million, an increase of 31.9% over RMB 4,511.1 million for the full year of 2022.

Net profit for the fourth quarter of 2023 was RMB 331.2 million, and net loss for the same period of 2022 was RMB 184.8 million. Adjusted net profit for the fourth quarter of 2023 was RMB 628.6 million, compared to RMB 59.5 million for the same period in 2022. Net profit for the full year of 2023 was RMB 1,099.2 million, and RMB 107.2 million for the full year of 2022. Adjusted net profit for the full year of 2023 was RMB 2,156.2 million, and RMB 799.4 million for the full year of 2022.

The calculated cash receipts for the fourth quarter of 2023 were RMB 1,780.4 million, an increase of 61.2% over the previous year. The calculated cash receipts for the full year of 2023 were RMB 6,685.2 million, an increase of 44.9% over the previous year.

The average monthly active users in the fourth quarter of 2023 was 41.2 million, up 33.3% from 30.9 million in the same period of 2022. The average monthly active users in 2023 was 42.3 million, an increase of 47.4% over 28.7 million in 2022.

R&D expenses for the full year of 2023 were RMB 1,543.6 million, an increase of 30.5% over RMB 1,182.7 million for the full year of 2022, mainly due to increased employee-related expenses and increased investment in technology.

In March 2024, the company's board of directors approved a new share repurchase plan, which will take effect for a period of 12 months from March 20, 2024. According to this, the company can repurchase no more than 200 million US dollars of shares.

Furthermore, the company currently expects total revenue for the first quarter of 2024 to be between RMB 1.64 billion and RMB 1.67 billion, an increase of 28.3% to 30.7% over the previous year. This forecast reflects the company's current views on the Chinese market and operating conditions. These conditions are subject to change, and it is not possible to make reasonable and accurate predictions as of the date of this announcement.

Mr. Zhao Peng, founder, chairman and CEO of the company, said, “Over the past year, in the face of various external challenges, we have resumed strong growth in terms of user size and revenue. Our higher-than-expected financial performance was mainly driven by strong user growth, particularly penetration into blue-collar industries, low-tier cities, and small and medium-sized enterprises. This growth reflects our continued investment in technology and in-depth exploration of various user needs, which is also the key to helping us seize opportunities to further consolidate and expand our competitive advantage.”

Chief Financial Officer Zhang Yu added, “We are delighted to have had strong financial performance throughout the year. For the year, calculated cash receipts and revenue increased by 44.9% and 31.9%, respectively, due to strong user growth and increased payment ratios; the number of our annual paying corporate customers reached a record high of 5.2 million. Notably, our adjusted operating margin increased to 27.5% while maintaining rapid user growth, which once again proved the effectiveness of our business model.”

[Important matters]

Crazy Sports (00082.HK) will continue to implement development plans in key strategic areas in the digital sports industry to achieve long-term sustainable growth

[Financial results]

FIT HON TENG (06088.HK) annual profit of US$130 million decreased by 23.5% year-on-year

Yingpu Precision (01286.HK) achieved an adjusted net profit of HK$532 million in 2023 and plans to allocate a second interim interest rate of HK8 cents

Profit attributable to shareholders of APAC Satellite (01045.HK) in 2023 was HK$238 million, up 2.6% year-on-year

Tianfu (06868.HK): Net profit increased 3.2% year over year in 2023 to HK$0.12 million with final interest of HK$0.12

Dongyangguang Changjiang Pharmaceutical (01558.HK) Yingxi: Expected net profit of 1.90 billion yuan to mother in 2023 to 210 billion yuan

Shide Global (00487.HK) Profit: Expected annual profit of approximately HK$160 million to HK$190 million

Hima Ophthalmology (03309.HK) Profit: Expected net profit of HK$60 million to HK$65 million in 2023

Modern Chinese Medicine Group (01643.HK) expects net profit of 46 million yuan to 51 million yuan in 2023

Ruigang Construction (06816.HK) expects a loss of over HK$84 million before tax in the 2023 fiscal year

Dongyue Group (00189.HK) Profit Alert: Net profit attributable to company owners is expected to decrease by about 82% year-on-year in 2023

[Operational data]

The total premium income of China Financial Insurance (02328.HK) from January to February was 101,243 billion yuan, up 1.0% year-on-year

Hong Kong Science and Technology Exploration (01137.HK): HKTVMall and the market today and February average daily order total product transaction volume fell 10.9% month-on-month to HK$22.1 million

[Pharmaceutical Innovation]

Xiansheng Pharmaceutical (02096.HK): Injectable SIM0500 (humanized GPRC5D-BCMA-CD3 tri-specific antibody) was issued a drug clinical trial approval notice by the State Drug Administration

Fu Hong Han Lin (02696.HK): The clinical trial application for HLX6018 (recombinant anti-GARP/TGF-beta 1 anthropogenic monoclonal antibody injection) for the treatment of idiopathic pulmonary fibrosis was approved by the State Drug Administration

Shandong Xinhua Pharmaceutical Co., Ltd. (00719.HK): Obtained ibuprofen sustained-release capsule drug registration certificate

[Equity Incentives]

Standard Chartered Group (02888.HK) grants approximately 24.3818 million share awards

Pacific Shipping (02343.HK) grants a total of 17.74 million bonus shares

Edwin Group (09919.HK) grants 1.47 million bonus shares

[Repurchase Cancellation]

HSBC Holdings (00005.HK) spent HK$169 million to repurchase 2,898,400 shares on March 11

Standard Chartered Group (02888.HK) spent £22.36 million to buy back 3.4 million shares on March 11

Swire Group A (00019.HK) spent HK$21.76 million to repurchase 338,000 shares on March 12

Yao Ming Kangde (02359.HK) spent 2010 million yuan to buy back 350,000 A shares on March 12

AIA (01299.HK) spent HK$2.346 million to repurchase 37,200 shares on March 12

Riel Group (06639.HK) spent HK$1.831 million to buy back 342,000 shares on March 12

Haier Smart Home (06690.HK) spent 1.689 million yuan to buy back 69,000 A shares on March 12