ManpowerGroup Greater China Limited Announces Acquisition of Shares from Beijing FESCO


【2 November 2020 – Hong Kong】ManpowerGroup Greater China Limited (“ManpowerGroup Greater China” or together with its subsidiaries, the “Group”; stock code: 2180.HK) is pleased to announce that the Group’s wholly-owned subsidiary, 萬寶盛華人力資源(中國)有限公司 (ManpowerGroup (China) Human Resources Co., Ltd.*), has recently entered into a share transfer agreement (“STA”) with 北京外企人力資源服務有限公司 (Beijing Foreign Enterprise Human Resources Services Co., Ltd.) (“Beijing FESCO”) to acquire 45% equity interest of 中瑞方勝金融服務外包(北京)有限公司 (ZhongRui FESCO Outsourcing (Beijing) Co., Ltd) (“ZhongRui FESCO”) at a consideration of RMB17.55 million (the “Acquisition”).

ZhongRui FESCO, a company founded in 2014 in Beijing, China, is a professional staffing enterprise with abundant client resources in the finance sector, and is principally engaged in the provision of specialized staffing services, accounting and financial consultation services, and tax planning services to local clients.

Mr. DU Cheng (杜成), founder and general manager of ZhongRui FESCO, has over 20 years of experience in the human resource industry. Prior to joining ZhongRui FESCO, Mr. DU served as Vice General Manager and Finance Director at Beijing FESCO. Mr. Du also served as a board of director of FESCO Adecco Co., Ltd.

With the addition of ZhongRui FESCO’s client resources and experienced management team, the Group believes the Acquisition would generate a strong synergy in its staffing business and further expand its business offering to clients in the finance sector and increase its market share in Mainland China.

Furthermore, the Acquisition will accelerate the development of the Group’s all-in-one workforce technology platform and provide more digitalized solutions and products in payroll and tax services to enterprises and employees by integrating ZhongRui FESCO’s profound knowledge and the Group’s information technology development capabilities.

Yuan Jianhua, Executive Director and Chief Executive Officer of the Group said “the Acquisition will benefit both parties from the reform of China's social security and individual income tax system and the industry trend of digitalization. We believe the Group is well-positioned to meet the growing demand of our clients for one-stop comprehensive human resources solutions and take full advantage of the growth potential of the human resources market in the Greater China region”.


Previous: Next: