Q2 2024 Tongdao Liepin Group Earnings Call (Chinese, English) Transcript
Key Points
- Gross profit margin increased to 78.8%, a 2.8 percentage point rise year-on-year.
- Non-GAAP operating profit doubled to CNY93.95 million, a 100% increase year-on-year.
- Revenue from talent development services grew by 41% year-on-year, maintaining growth for three consecutive quarters.
- Number of registered business users increased by 12.4% year-on-year, reaching 1.37 million.
- Average Monthly Active Users (MAU) grew by 10.3% year-on-year in the second quarter.
- Total revenue decreased by 7.2% year-on-year, amounting to CNY1.02 billion.
- Revenue from talent acquisition and other HR services for business customers fell by 14.1% year-on-year.
- Mid to high-end recruitment market remains under pressure, affecting overall demand.
- Cash billings continued to decline in the second quarter.
- Net cash outflow from operating activities was around CNY120 million in the first half of the year.
Good day, and welcome to the Tongdao Liepin Group 2024 second-quarter earnings conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to [Catherine Chen]. Please go ahead.
Hi, everyone. Thank you for joining us on today's conference call to discuss our results for the second quarter 2024. The company's financial and operating results were published and were posted on the company's IR website at [email protected].
On today's call, Mr. Rick Dai, company's Chairman and CEO, will kick off with our business operations and highlights. After that, Mr. Tim Tian, our CFO, will continue to detailed financial review. The remarks will be in Chinese, followed by English translation.
Before we continue, I would like to remind you that this call may contain forward-looking statements made under the Safe Harbor provisions. Such statements are made on management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks,
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