Tongdao Liepin Group (6100:HKG), the operator of Chinese online recruitment platform Liepin.com, reported revenue on 24 November of RMB 558.9 million (USD 78.8 million) for the three months ended 30 September 2023, a decrease of 12.9% when compared to the previous year.

Revenue was primarily generated from providing talent acquisition and other Human Resource services to its business customers and providing talent development services to individual users. Gross profit was RMB 424.5 million (USD 59.9 million) for the three months ending 30 September 2023, a 15.0% decrease when compared to the three months ending 30 September 2022.

Due to the limited recovery in recruitment demand from business customers and drag from decreasing cash billings during the previous period, the company saw a declining financial performance.

Revenue generated from providing talent acquisition services and other HR services to its business customers was RMB 496.4 million (USD 70.0 million) in the third quarter, representing a year-on-year decrease of 14.4%.

Revenue generated from providing talent development services to individual users was RMB62.0 million in the third quarter of this year, representing a year-on-year increase of 1.7%. The increase was mainly due to the group's resumption of online professional certification training services.

The group also posted revenue of RMB 1.65 billion (USD 232.86 million) for the nine months ending 30 September 2023, a 17.9% decrease from the previous year. Gross profit was RMB 1.24 billion (USD 174.99 million) for the nine months ended 30 September 2023, a 21.3% decrease compared to the same period a year ago. Net profit stood at RMB 53.3 million (USD 7.52 million), a fall of 82.9% over the year.

Tongdao shares closed on 24 November at HKD 6.75 (USD 0.86), up 0.44% on the day. The company has a market cap of HKD 2.95 billion (USD 377.43 million).