Tongdao Liepin Group, previously known as Wise Talent Technology Services Co (6100:HKG), the operator of Chinese job board Liepin.com, reported revenue on 29 August of RMB 543.7 million (USD 76.5  million) for the three months ended 30 June 2024, a decrease of 7.8% when compared to the previous year.

The group said in the second quarter of this year, China’s recruitment market continued to diversify, with an increasing recruitment demand for grey-collar and blue-collar positions, while demand for white-collar and above talent remained under pressure.

Non-GAAP operating profit of the company (excluding share-based compensation expenses and amortisation of intangible assets resulting from acquisition) was RMB 95.4 million (USD 13.4 million) for the three months ended 30 June 2024, a 51.7% increase from RMB 62.9 million (USD 8.8 million) for the three months ended 30 June 2023.

Tongdao Liepin Group also reported H1 revenue of RMB 1.01 billion (USD 142.1 million), down 7.2% when compared to the same period a year ago.

Looking ahead, the group stated in a press release, “In the medium to long term, we will focus on the sustainable development of the group, implementing flexible strategies in response to market changes, and continuously creating value for our users and the industry.”

Tongdao Liepin Group shares on 29 August closed in Hong Kong at HKD 1.97 (USD 0.25), down 1.50% on the day. The company has a market cap of HKD 1.05 billion (USD 134.6 million).