Shares declined modestly by 0.3% as investors digested a mixed quarter marked by slower revenue growth amid challenging seasonality and a cautious outlook on peak recruitment season timing.
- Q1 revenue grew 7.6% year-over-year to RMB 2.07 billion, reflecting comparison of one peak season month in 2026 versus two in 2025, suggesting underlying revenue momentum was softer than it appears.
- Adjusted operating income rose 17.8% year-over-year to over RMB 810 million, with margins expanding by 3.4 percentage points to 39.4%.
- Paid enterprise customers increased 10.9% year-over-year to 7.1 million, while monthly active users reached 16.9 million, up 5.7%.
- Delayed Chinese New Year (February 17 in 2026 vs. January 29 in 2025) compressed early-quarter hiring activity, pushing peak recruitment demand into March, complicating near-term comparisons.
- Strong demand growth for software engineering and AI-related roles noted, yet broader platform revenue growth was tempered, reflecting mixed trends across customer segments.
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