On the evening of November 14th, BOSS Direct Employment released its financial report for the third quarter of 2023, with a revenue of 1.607 billion yuan, a year-on-year increase of 36.3%; The net profit was 426 million yuan, a year-on-year increase of 101.1%. Excluding other income such as financial management, the company's adjusted operating profit was 549 million yuan.
The penetration rate of BOSS direct recruitment in blue collar jobs and lower tier cities continues to increase. The average monthly active user count (MAU) during the reporting period reached 44.6 million, a year-on-year increase of 37.7%; As of September 30, 2023, the number of paying enterprises reached 4.9 million, a year-on-year increase of 32.4%.
The market penetration rate of blue collar and lower tier cities has increased.
In the third quarter, the number of active users directly hired by BOSS on the platform's job search and recruitment platforms showed a steady growth trend. During the quarter, the company added nearly 12 million new and improved users, with an average monthly active user count (MAU) of 44.6 million. As of the end of the quarter, the number of paid enterprises in the 12 months reached 4.9 million.
From the perspective of job categories, blue collar workers have become an important engine driving the growth of platform users. Both in terms of job growth on the recruitment end and the number of active job seekers, blue collar workers are leading the market.
From the recruitment perspective, the service industry is leading in terms of job growth, with a significant increase in demand for positions related to offline physical consumption such as waiters, shop assistants/salespeople, and chefs. The growth rate of supply chain logistics positions is significant, with express delivery personnel, freight drivers, warehouse administrators, and delivery personnel showing the most prominent growth rates. From an industry perspective, there has been a significant month on month increase in recruitment for consumer goods, automotive aftermarket, new energy, internet lifestyle services, and raw materials related to mechanical manufacturing.
In terms of job seekers, blue collar workers have also maintained a high proportion of new job seekers since the beginning of this year. Traditional manufacturing hubs such as Dongguan, Suzhou, and Foshan rank among the top in the platform for active job seekers in production and manufacturing.
From a regional perspective, BOSS direct recruitment continues to accelerate its popularity in lower tier cities. The number of positions and job seekers from second tier and below cities maintained a high growth rate in the third quarter.
While monthly active users continued to grow and user stickiness remained stable, the direct sales and marketing expenses of BOSS in the third quarter were 457 million yuan, accounting for 28% of revenue. This also means that the compound interest value brought about by the accumulation of platform brand effects is constantly emerging, and the marginal cost of the company's customer acquisition is decreasing.
Faced with a larger number of hierarchical and more complex sub categories and regions, BOSS direct recruitment ensures the accuracy and efficiency of matching between job seekers and enterprises through continuous research and development investment. In response to the increasing attention to part-time positions since the beginning of this year, the production and research team has explored potential demand for part-time positions on the recruitment end through data analysis, optimized the experience of releasing part-time positions on products, and jointly increased job supply.
Based on long-term confidence in performance growth, BOSS Direct Hire will make its first dividend payout after going public, with a payout amount of $0.09 per ordinary share, or $0.18 per American Depositary Stock (ADS), approximately $80 million. It is expected to be distributed in mid to late December 2023.