| --- | --- | --- | --- | |-------|-----------------------------------------------------------------------------------------------------|-------|-------| | | | | | | | Renrui Human Resources | | | | | Technology Holdings Limited 人瑞人才科技控股有限公司 (於開曼群島註冊成立之有限公司) 股份代號： 6919 | | | | 000 | 000 | | | | | 中 + 000 中 中 | th | | | | 中期報告 | l | | 公司資料 財務摘要 管理層討論與分析 其他資料 簡明綜合收益表 簡明綜合全面收益表 簡明綜合資產負債表 簡明綜合權益變動表 簡明綜合現金流量表 簡明綜合中期財務資料附註 目錄 all children 2 4 6 34 39 40 41 43 45 46 | Unlivel BIBI l o-o-o 000 (0) (0) 人 瑞 人 才 科 技 控 ...

| --- | --- | --- | |-----------|-----------------------------------------------------------------------------------------------------|-------| | | | | | | Renrui Human Resources | | | | Technology Holdings Limited 人瑞人才科技控股有限公司 (於開曼群島註冊成立之有限公司) 股份代號： 6919 | | | 000 中 中 | 000 中 + 000 | th | | | | l | 公司資料 財務摘要 主席報告 管理層討論與分析 董事及高級管理層的履歷 董事會報告 企業管治報告 環境、社會及管治報告 獨立核數師報告 綜合利潤表 綜合全面收益╱（虧損）表 綜合資產負債表 綜合權益變動表 綜合現金流量表 綜合財務報表附註 目錄 2 4 6 10 39 45 70 82 111 116 117 118 120 122 123 人 瑞 人 才 科 技 控 股 有 限 公 司 2020 年 度 報 告 公司 ...

Financial Performance - For the six months ended June 30, 2020, the company reported revenue of RMB 1,195,572,000, an increase of 11% compared to RMB 1,077,361,000 for the same period in 2019[17] - The gross profit for the same period was RMB 99,710,000, resulting in a gross margin of 8.3%, down from 10.8% in 2019[24] - The company achieved a net profit attributable to equity holders of RMB 53,019,000, compared to a net loss of RMB 229,202,000 in the previous year[17] - The adjusted net profit for the six months ended June 30, 2020, was RMB 53,019,000, while the adjusted net profit margin was 4.4%, down from 5.4% in 2019[24][29] - The company reported a pre-tax profit of RMB 60,285,000 for the first half of 2020, a significant recovery from a loss of RMB 222,636,000 in the same period of the previous year[17] - The total revenue for the six months ended June 30, 2020, was approximately RMB 1,195.6 million, an increase of RMB 118.2 million or 11.0% compared to RMB 1,077.4 million for the same period in 2019[81] - The total cost of revenue for the same period was approximately RMB 1,095.9 million, an increase of RMB 134.5 million or 14.0% compared to RMB 961.4 million in the previous year[82] - The net profit for the six months ended June 30, 2020, was approximately RMB 53.0 million, a significant improvement from a loss of approximately RMB 229.2 million for the same period in 2019[103] Asset and Liability Management - As of June 30, 2020, total assets amounted to RMB 1,571,894,000, an increase from RMB 1,484,361,000 as of December 31, 2019[20] - The total equity as of June 30, 2020, was RMB 1,191,043,000, up from RMB 1,067,371,000 at the end of 2019[20] - Total current assets as of June 30, 2020, were approximately RMB 1,470.3 million, an increase from RMB 1,378.2 million as of December 31, 2019[110] - Total current liabilities as of June 30, 2020, were approximately RMB 334.0 million, a decrease from RMB 362.6 million as of December 31, 2019[110] - The net current assets as of June 30, 2020, were approximately RMB 1,136.3 million, an increase from RMB 1,015.5 million as of December 31, 2019[111] Market and Operational Insights - The flexible employment service market experienced an annual growth rate of 8.3% in 2020, with the number of flexible workers increasing by approximately 6.0% compared to December 31, 2019[33] - Approximately 87.3% of total revenue for the first half of 2020 came from clients in China's new economy sector, which grew at an annual rate of about 5.9%[41] - The flexible staffing market in China is expected to grow at an annual rate of approximately 28.4% in the second half of 2020, with the company experiencing a recovery in its flexible staffing business since June 2020[147] Employee and Recruitment Metrics - The number of employees recruited in the first half of 2020 was 24,499, a decrease of approximately 32.6% compared to 36,338 in the same period of 2019[40] - The number of flexible workers increased from 25,118 as of December 31, 2019, to 28,257 as of June 30, 2020, representing a growth of 8,101 or approximately 40.2% year-over-year[40] - The company had a total of 34,602 employees, with 641 internal employees, showing a slight decrease from 645 at the end of 2019[65] Revenue Breakdown - Revenue from the flexible staffing segment accounted for 93.0% of total revenue, amounting to RMB 1,112.2 million for the first half of 2020[41] - The company’s revenue from professional recruitment services was RMB 18.1 million, accounting for 1.5% of total revenue for the first half of 2020[41] - The company’s revenue from business process outsourcing was RMB 52.9 million, representing 4.4% of total revenue for the first half of 2020[41] Cost and Expense Management - The average labor cost for flexible workers managed by the company was approximately RMB 6,500 per month, a decrease from RMB 7,600 per month in 2019[82] - Sales and marketing expenses for the six months ended June 30, 2020, were approximately RMB 18.6 million, a decrease of about RMB 4.4 million or 19.1% from RMB 23.0 million in the same period of 2019[89] - Administrative expenses for the six months ended June 30, 2020, were approximately RMB 33.8 million, relatively stable compared to RMB 33.1 million in the same period of 2019, with a decrease in listing expenses[93] Corporate Governance and Management - The company has adopted the corporate governance code as per the listing rules and believes it has complied with all applicable provisions as of June 30, 2020, except for a deviation regarding the roles of the Chairman and CEO[186] - The Chairman and CEO roles are held by the same individual, Mr. Zhang Jianguo, which the board believes does not compromise the balance of power between the board and management[187] - The company established an Investment and Compliance Committee on June 26, 2020, chaired by non-executive director Mr. Zou Xiaolei[190] Future Plans and Investments - The company plans to recruit 30 to 40 new sales personnel to enhance the sales team's scale and capabilities starting from July 2020[155] - The company aims to accelerate the market development of flexible employment services for IT positions, including software developers, in the second half of 2020[160] - The company plans to gradually resume offline recruitment activities starting from August 2020, aiming to recover recruitment capabilities[153] Recent Developments and Guidance - The company reported a revenue of $5.2 billion for Q3 2023, representing a 15% year-over-year increase[200] - User base grew to 150 million active users, up from 130 million in the previous quarter, indicating a 15% growth[200] - The company provided guidance for Q4 2023, expecting revenue to be between $5.5 billion and $5.7 billion, reflecting a potential growth of 6% to 10%[200]

Financial Performance - Total revenue for 2019 reached RMB 2,287,601 thousand, a 41.5% increase from RMB 1,615,891 thousand in 2018[16]. - Gross profit for 2019 was RMB 240,885 thousand, representing a gross margin of 10.5%, up from 9.6% in 2018[16][17]. - Operating profit for 2019 was RMB 118,269 thousand, compared to RMB 57,527 thousand in 2018, indicating a significant improvement in operational efficiency[16]. - The company reported a net loss attributable to equity holders of RMB 779,831 thousand for 2019, worsening from a loss of RMB 136,935 thousand in 2018[16]. - Adjusted net profit for 2019 was RMB 134,262 thousand, up from RMB 67,690 thousand in 2018, reflecting a net profit margin of 5.9%[16][17]. - Revenue for the fiscal year 2019 was approximately RMB 2,287.6 million, with flexible staffing revenue accounting for about RMB 2,151.0 million[31]. - Adjusted net profit for 2019 was approximately RMB 134.3 million, representing a year-on-year growth of about 98.3%[31]. - Operating cash flow increased by approximately 260.6% year-on-year, with adjusted net profit margin rising from about 4.2% in 2018 to approximately 5.9% in 2019[31]. - For the year ended December 31, 2019, the company achieved revenue of approximately RMB 2,287.6 million, representing a growth of 41.6% compared to RMB 1,615.9 million for the year ended December 31, 2018[45]. - The total cost of revenue for the fiscal year ending December 31, 2019, was approximately RMB 2,046.7 million, an increase of about RMB 585.8 million or 40.1% compared to RMB 1,460.9 million for the previous year[81]. Asset and Liability Management - Total assets increased to RMB 473,197 thousand in 2019, compared to RMB 232,689 thousand in 2018, indicating strong growth in asset base[16]. - Total liabilities rose to RMB 772,609 thousand in 2019, up from RMB 383,851 thousand in 2018, highlighting increased leverage[16]. - The current ratio improved to 1.4 in 2019 from 1.2 in 2018, suggesting better short-term financial health[17]. - Cash and cash equivalents increased by approximately RMB 989.2 million, from RMB 40.3 million in 2018 to RMB 1,029.5 million in 2019[102]. - The company has eliminated all borrowings by the end of 2019, reducing the borrowing balance from approximately RMB 10.0 million in 2018 to zero[102]. - Total current assets rose to approximately RMB 1,378.2 million in 2019 from RMB 379.8 million in 2018, while current liabilities increased to RMB 362.6 million from RMB 328.8 million[102]. - Net current assets increased significantly from approximately RMB 51.0 million in 2018 to approximately RMB 1,015.5 million in 2019[102]. Workforce and Recruitment - The company ranked first among all flexible staffing service providers in China, with over 25,000 flexible workers employed as of December 31, 2019, and 82.1% of these workers serving new economy clients[23]. - The number of flexible workers increased from 19,464 as of December 31, 2018, to 25,118 as of December 31, 2019[25]. - The company recruited a total of 74,735 employees across all business segments for the year ended December 31, 2019, reflecting an increase of approximately 11.9% compared to the previous year[45]. - The flexible workforce attrition rate decreased from approximately 10.6% in 2018 to about 9.9% in 2019, indicating improved service capabilities[141]. - The conversion rate from job offer to candidate onboarding improved from over 40% in 2018 to approximately 54.6% in 2019[56]. Market Position and Strategy - The company aims to strengthen its position as a strategic partner for rapidly growing new economy companies and industry leaders[22]. - The company plans to focus on providing flexible staffing services to leading unicorn companies in the new economy sector, capitalizing on the projected compound annual growth rate of 23.3% for the flexible staffing industry in China from 2019 to 2024[33]. - The company aims to become a world-class human resources service provider, focusing on customer-centric values and long-term growth strategies[36]. - The company is committed to enhancing its professional service capabilities by recruiting high-level talent and providing more specialized training for employees in 2020[141]. - The company emphasizes a business development direction focused on flexible workforce services and recruitment as its core competitiveness[142]. Research and Development - The company invested over RMB 10 million in R&D for information systems, continuously optimizing existing systems to meet market changes and client needs[30]. - Research and development expenses for the year ended December 31, 2019, were approximately RMB 13.4 million, focusing on optimizing existing systems and platforms[66]. - The company applied for five software copyrights in 2019, bringing the total number of software copyrights to 57[63]. Corporate Governance - The company has a strong board with members holding various significant positions in other listed companies, enhancing its governance and strategic oversight[158]. - The company is committed to maintaining high standards of corporate governance and compliance through its independent directors[163]. - The management team is well-equipped with a mix of financial, operational, and strategic expertise to navigate market challenges[161]. Social Responsibility and Compliance - The company is committed to social responsibility, employee welfare, environmental protection, community contribution, and sustainable development[178]. - The company has not identified any non-compliance issues under the laws and regulations of its operating jurisdictions that could materially adversely affect its business or financial condition[180]. - The company believes that the likelihood of being ordered to make back payments for social insurance and housing fund contributions is minimal, thus not significantly impacting its business or financial performance[180].