Renrui Human Resources Technology Holdings Limited
人瑞人才科技控股有限公司
(Stock Code: 6919.HK)
Announced Preliminary Review of FY2021 Unaudited Management Account
Revenue Expected to Increase by 59%-69% YoY
Adjust Net Profit Expected to Decrease 35%-45% YoY
Expanding Service Verticals to Capture Growing Digital Talents Demands
Hong Kong－11March 2022 Renrui Human Resources Technology Holdings Limited(“Renrui HR” or the “Company”, together with its subsidiaries, the “Group”) (HKEX: 6919), today announced that following the preliminary review of the Group’s unaudited consolidated management accounts for the year ended 31 December 2021 (the “Year”), as well as the management’s estimate based on the information currently available to the Board, the Group expects an increase in revenue of approximately 59% to 69% year-on-year (YoY), a decrease in net profit of approximately 40% to 50% YoY, and a decrease in adjusted net profit of approximately 35% to 45% YoY.
The revenue growth for the Group's comprehensive flexible staffing services remained strong. Nonetheless, there was an overall decrease in the Group’s gross profit margin, which was mainly attributable to (i) the relatively significant adjustment in the amount of flexible staffing service premium payable per comprehensive flexible staffing employee according to a new agreement entered into between the Group and a major customer as disclosed in the announcements of the Company, resulting in a considerable drop in the gross profit of the relevant business project; (ii) the decline in staffing demand of internet industry, leading to a slowdown in the growth of demand of the Group’s certain customers in the internet industry for comprehensive staffing service and a lower service fee or service premium payable to the Group; and (iii) the regulation issued in the second half of 2021 imposing restrictions on the online education industry, negatively impacting on the demand for comprehensive flexible staffing service and the service premium payable to the Group.
Mr. Zhang Jianguo, Chairman and Chief Executive Officer of Renrui Human Resources Technology Holdings Limited, commented, ‘Due tothe market uncertainties throughout the second half of 2021, some of our major customers were largely impacted by the regulations and restrictions imposed on the internet industry and the online education industry, resulting in a lower growth and strategy adjustments, which negatively impacted on the gross profit of our Group. Facing with these challenges, we further expand the market for information technology and digital talents services and increase the revenue generated therefrom through organic growth, mergers and acquisitions and joint cooperation opportunities since the second half of 2021, capturing the megatrend of the acceleration of digital transformation of the PRC economy as well as corporate clients’ huge demand for information technology and digital information talents. Since the information technology and digital talent service markets have relatively high barrier of entries for professional knowledge and certificates, it is expected to generate relatively high gross profit margin. As at the end of December in 2021, the number of the comprehensive flexible staffing employees serving in the banking and financial institutions industry had increased by approximately 231.3% as compared to the last year, and the number of the comprehensive flexible staffing employees in information technology positions had increased by approximately 353.9% as compared to the last year. The above measures could lay a solid foundation for our steady growth in 2022. In the future, we will continue to actively expand high-value business opportunities and diversify our client base to adapt to the dynamic market environments, and in turn, create better value for our corporate clients.’
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About Renrui Human Resources Technology Holdings Limited
Renrui HR is a fast-growing pioneer in the human resources solutions sector in China and a strategic partner for many industry leaders, primarily engaged in the provision of human resources outsourcing services, professional recruitment, and other human resources solutions. The Group has reinvented traditional human resources business process with digitalization and new technology innovation. Its one-stop ecological system allows Renrui HR to serve its customers across the PRC in a result-oriented manner and effectively solves large-scale talent recruitment and management problems in the PRC. Currently, Renrui HR operates over 60 branches and subsidiaries across the PRC with business coverage in over 300 cities.
Company website:http://www.renruihr.com/
This press release is issued by DLK Advisory Limited on behalf of Renrui Human Resources Technology Holdings Limited.
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Phone:+852 2857 7101
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