HONG KONG, March 30, 2021 /PRNewswire/ -- Renrui Human Resources Technology Holdings Limited ("Renrui HR" or the "Company", together with its subsidiaries, the "Group") (Stock Code: 6919.HK), today announced its annual results for the year ended 31 December 2020 (the "year").
Summary of Key Financial Performances for the Full Year
* Adjusted net profit (non-HKFRS) is defined as the net profit/(loss) for the year excluding non-operational fair value losses on hybrid financial instruments, listing expenses and share-based payment expenses under the Post-IPO Share Option Scheme, where applicable.
** Adjusted net profit margin (non-HKFRS) is calculated as adjusted net (loss) / profit as a percentage of revenue for the same year.
Revenue Breakdown by Business Segments
Business Highlights for the Year 2020
Mr. Zhang Jianguo, Chairman and Chief Executive Officer of Renrui Human Resources Technology Holdings Limited, stated, "The outbreak of the COVID-19 pandemic in 2020 brought many challenges to the market. However, benefitted from the effective pandemic prevention policies by the Chinese government, as well as a series of finacial and currency stimulation policies, the economy in Mainland China rapidly recovered. It is therefore expected that the demand for human resources from corporations will continuously increase. The IMF expects that the actual growth rate of China's GDP in 2021 will be about 8.1%, and the annual growth rate of China's flexible staffing market is expected to be 20.6% in 2021. Given the rapid growth of China's flexible staffing industry and the Chinese government's emphasis on employment stability, the Group is confident of the rapid business development in 2021. Looking forward, we will continue to diversify and expand our customer base to increase revenue. In addition, we will continue expand the geographic support network for domestic and overseas customer service, while continue to enhance the integrated human resource ecosystem and platform, striving to create a professional career ecosystem."
Mr. Kenneth Ke, Chief Investment Officer of Renrui Human Resource Technology Holdings Limited, added, "The recurring income model of Renrui HR has achieved notable results, which increase the accuracy of financial forecast. Consider that China's flexible staffing market remains large and untapped, the Group will leverage its market leading position and technological first-mover advantage to serve unicorn companies in developing their businesses. Last year, the Group invested in Tianjin Binhai Xunteng Group Co., Ltd. Through comprehensive integration of industry and education, we have established the human resource academia supply chain for Renrui HR. In the next three years, we will speed up the rollout and build-up of a professional career ecological chain through investment and acquisitions. Looking forward, the Group is confident in its business prospects, competitive advantages and growth potential."
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About Renrui Human Resources Technology Holdings Limited
Renrui HR Group is a fast-growing pioneer in HR solutions In China. The company services a large number of industry leaders in new economy and other sectors as their strategic partner. Renrui HR Group provides the largest scale of Flexible Staffing services and other complementary HR services including Professional Recruitment, BPO services, and Corporate Training. The company has reinvented traditional human resources services with comprehensive digital and cutting-edge technology, to effectively solve large-scale talent recruitment and management problems in the market. Currently Renrui HR Group operates more than 49 branch offices across China and provides one-stop HR services to clients in over 300 cities, enabling a strong national linkage and cross-region talent transfer. In addition, the company has nearly 900 employees and over 34,000 contract employees.
Company website: http://www.renruihr.com/
This press release is issued by DLK Advisory Limited on behalf of Renrui Human Resources Technology Holdings Limited.
For enquiries, please contact,
Renrui HR
Chief Investment Officer
Kenneth Ke (ketingjun@renruihr.com)
DLK Advisory
Michelle Shi (michelleshi@dlkadvisory.com)
Rachel Chung (rachelchung@dlkadvisory.com)
Alvin Tam (alvintam@dlkadvisory.com)
Ivy Cheung (ivycheung@dlkadvisory.com)
Phone: +852 2857 7101
Fax: +852 2857 7103