BZ: Positive On 3Q23 Performance, Supported By Meaningful Job Listing Improvements In IT & Internet Sector
We are positive about BZ’s performance in 3Q23. Due to the natural recovery of China’s non-State-owned economy as well as State-driven economic stimulus, the job market has started to show some improvement. The improvement in August is more significant than most other months since January 2022. The number of total paid jobs listings on the platform is likely to increase 13.7% Y/Y 3Q23E, up from 11.1% Y/Y growth in 2Q23, as the IT & Internet sector improved substantially.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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