Tongdao Liepin (06100.HK) released its financial report for the first half of 2021 as of June 30, 2021. According to the financial report, Liepin had revenue of RMB 1.199 billion in the first half of the year, a year-on-year increase of 48.3%; gross profit of RMB 954 million, a year-on-year increase of 47.6%; adjusted operating profit of RMB 167 million, a year-on-year increase of 45.5%.
Among them, in the first half of 2021, Liepin’s revenue from corporate users was 1.024 billion yuan, a year-on-year increase of 34.2%, accounting for 85.4% of total revenue; revenue from individual users was 174 million yuan, a year-on-year increase of 297.2%, accounting for The proportion of total revenue is 14.5%, and the proportion of C-end revenue has further increased.
According to the financial report, in the first half of 2021, Liepin’s sales and marketing expenses were 559 million yuan, a year-on-year increase of 50.8%; R&D expenses were 143 million yuan, a year-on-year increase of 21.4%; management expenses were 173 million yuan, a year-on-year increase of 29.4%.
In terms of business data, as of the end of June 2020, the number of verified enterprise users on the hunting platform increased to 882,000, an increase of 41% year-on-year; the number of paying enterprise users increased to 66,000, an increase of 25% year-on-year; the number of verified headhunters increased to 180,000, a year-on-year increase of 10%; the number of individual users increased to 68.5 million, a year-on-year increase of 16%.
According to Liepin, the recruitment industry continues to pick up, and the demand for mid-to-high-end talents has accelerated, which has injected strong impetus into Liepin’s performance growth in the first half of the year. According to Liepin’s big data, the industry’s recruitment demand has increased significantly in the first half of 2021, which has exceeded the level of the same period in 2019. In addition, revenue structure optimization, cost improvement, and brand rejuvenation strategies have become more effective. These factors constitute an important growth point for Liepin.
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