Tongdao Liepin (06100) announced its financial results for the year ended December 31, 2025. The group recorded revenue of 19.86 billion yuan, a decrease of 4.56% year-on-year. Net profit attributable to equity shareholders was 103 million yuan, down 23.12% compared to the previous year. Basic earnings per share stood at 21.51 cents, and the company proposed a final dividend of 20 Hong Kong cents per share.
Due to a decline in repayments during 2024 and the first half of 2025, coupled with ongoing instability in the mid-to-high-end recruitment market throughout 2025, the company's enterprise-side revenue fell by 6.2% year-on-year to 16.52 billion yuan. However, in the second half of 2025, by focusing on high-value clients and promoting AI products, the company achieved a year-on-year turnaround in business cash repayments from decline to growth.
Amid challenges in the mid-to-high-end recruitment market in 2025, the company leveraged its over ten years of expertise, brand influence, and continuously upgraded AI products and technological capabilities in the human resources sector. This enabled the Liepin platform to maintain its appeal to enterprises, talent, and headhunters, translating into measurable user growth. As of December 31, 2025, the number of verified enterprises on Liepin reached 1.474 million, up 3.2% year-on-year. Paid enterprise clients totaled 72,000, an increase of 5.3%. Verified headcount reached approximately 225,000, rising by 4.7%. Registered job seekers grew by 10% to 116.1 million. The BHC (Business-Headhunter-Candidate) ecosystem continued to develop healthily, reinforcing the company's leading position in the mid-to-high-end talent recruitment market.
In 2025, the company continued to focus on expanding the user base of Liepin Enterprise Edition and strengthening its "AI + recruitment services" competitive edge. By capitalizing on opportunities in new quality productivity development, deepening its presence in key industries, and refining services for high-value clients, supported by a diverse AI recruitment product portfolio, the company effectively improved new client signings and renewal rates. During the year, new client acquisitions for the standard package of Liepin Enterprise Edition increased by over 60% year-on-year, successfully driving a year-on-year turnaround in cash repayments for recruitment business in the second half of the year.
Internally, the operational mid-office utilized AI technology to empower the sales team, leveraging large model analytics to identify high-potential users. This facilitated intelligent management of business opportunities and optimized sales strategies, leading to a 286% improvement in the "client coverage – repayment conversion rate" by year-end compared to the first half. Additionally, the company continued to promote organizational flattening, with all departments implementing cost reduction and efficiency enhancement measures. Through optimized organizational and opportunity management, sales efficiency stabilized and turned to growth, with positive operational leverage effects gradually emerging.