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ManpowerGroup Greater China Announces 2021 Interim Results:Flexible Staffing Maintains Strong Growth Momentum, Diversity of Business Segments Benefits Profitability

2021-08-26

Financial Highlights

  •  For the 6 months ended 30June 2021, the Group recorded totalrevenue of RMB1871.0million, representing an increase of approximately 16.7% compared to the same period of 2020.
  • Revenuefrom flexiblestaffing business, thelargest segment of the Group, grewby approximately 15.4% on a year over year basis to RMB1739.3million, of which the flexible staffing revenue from Mainland China increasedapproximately 34.3%compared with the same period last year.
  • Recruitment & Solutions (Headhunting& RPO) segment rebounded strongly, with revenue growing by 32.8% on a year over year basis to RMB115.8million.
  • Net profit attributable to owners of the Company increased to RMB64.3million, representing a growth of approximately 14.7% year onyear; Adjusted net profit attributable to owners of the Company, after taking into account ofone-time expenses, increased to RMB66.6 million by approximately 16.8% year on year.


【26 August 2021 – Hong Kong】ManpowerGroup GreaterChina Limited (“ManpowerGroup GreaterChina” or together with its subsidiaries, the “Group”; stock code:2180.HK), the largest human resource solutions provider in Greater China, is pleased to announceits interim results today for the 6 months ended 30 June 2021 (the “Period”).


According to the latest industry report of China Insight Consultancy, the Group is the largest player in the work force solutions market in Greater China by its revenue in 2020. With its strong market position, the Group continued to show robust growth during thef irst half of 2021. Total revenue reached RMB1871.0 million, representing a growth of approximately 16.7% compared to the same period last year. Revenue generated from flexible staffing business, the largest segment of the Group, grew by approximately 15.4% on a year over year basis to RMB1739.3million, of which flexible staffing revenue from Mainland China increased significantly by 34.3% compared with the same period last year. Revenue from Recruitment& Solutions segment rebounded strongly to RMB115.8 million, up 32.8% on a yearover year basis. During the Period, net profit attributable to owners of the Company increased to RMB64.3 million, representing a growth of approximately 14.7% year over year. Adjusted net profit attributable to owners of the Company, after taking into account of one-offexpenses, increased to RMB66.6million by approximately 16.8% on a year over year basis.


Diversity of Business Segments Benefits Profitability

Despite regional outbreak of COVID-19 pandemic during the first half of 2021, the Group's diverse business segments have showngreat resilience. Flexible staffing business kept up robust growth momentum with total revenueincreasing by 16.7% on a year over year basis, of which flexible staffing business in Mainland China recorded a strong growth of approximately 34.3%. Recruitment & Solutions (Headhunting & RPO) segment rebounded strongly, with revenue growing by 32.8% on a year over year basis. During the Period, the Group streamlined its geographical operational structures in Mainland China, expanded into under-penetrated regions in southern, central,and western China, such as Wuhan and Chengdu, and bolstered its strong market position in tier-one cities such as Shanghai, Beijing, Guangzhou and Hong Kong .Total number of associates placed bythe Group increased by around 19% on a year over year basis from approximately 21,000 on 30June 2020 toapproximately 25,000 on 30 June 2021, among which the number of associates placed in Mainland China grew significantly by approximately 40%. The Group believes that it will continue to benefit from the human resources industry growth on the back of its strong brand andleading market position.


Further Business Development in the New Economy & Technology Sector; Technology Platform to Optimize Operational Efficiency

During the Period, the Group remained committed to growingits existing accounts, and further strengthened business development capabilities in the new economy and technology sector, with the number ofclients from such sector increasing by approximately 320 compared with the end of 2020. All thetop five clients of the Group belong to the new economy and technology sector with revenue increasing by approximately 37.1% on a year-over-year basis.


To implement its strategicinitiatives of digitalisation, the Group further strengthened its human resources technology platform (職場+) utilizing AItechnology and big data analysis to optimize operational efficiency and createmore synergy between different business lines. By June 30 2021, the Group’s candidate job portal (天天U才)had recorded around 38,000 Monthly Active User(MAU) with approximately 7,200 positions posted; the crowdsourcing platform (天天U單) hadposted around 3,800 positions during the Period; the Group’s employee welfare platform (天天U福)had registered over 21,000 members. As of 30 June 2020, the Group’s talent poolhas reached a total number of around 5.4million.


Leading Human Resources Services Provider in Greater China with Wide Recognition

The Group’s effortsin providing customized and professional services to its clients in the GreaterChina region have been widely recognized with a number of awards, including “Leading Human Resources Service Organization in 2020” ( “2020年度人力資源服務機構) by HRoot, “2021 Top100 HumanResources Service Organization” (“中國人力資源服務機構100”) by TopHR, “2021 Recruitment&Staffing Solution Power Value Awards” (“2021中國招聘與任用供應商價值大獎-白領崗位+服務業”) by HREC, and “2020 HR TechChina Best Service Providers” (“中國人力資源科技最佳服務機構”) by HR Tech China.


Looking forward, the Group expects tosee continued recovery of its businesses for the rest of the year. With flexible staffing as its strategic focus in the medium term, the Group will continue to optimize its workforce technology platform (“職場+”科技平台)with focus onthree critical application scenarios of work, training and life and tofurther increase operation efficiency and profitability.


CuiZhihui, Executive Director and Chief Executive Officer of the Group, said “We are very confident about the growthpotential of the flexible staffing industry. The Group’s leading market position in the Greater China region, together with its diversified business segments, strong business development capability, sufficient cash reserve, coupled with the optimization of the workforce technology platform, will help us takefull advantage of the growth potential of the human resources market in the Greater China region.” 


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About ManpowerGroup Greater China

ManpowerGroup Greater China Limited (“ManpowerGroup Greater China” or the“Company”, together with its subsidiaries, the “Group”, stockcode: 2180.HK), is the largest workforce solutions provider in the Greater China Region by its revenue in 2020. The Group provides comprehensive workforce solutions and other HR services to clients located in Greater China,including Mainland China, Hong Kong, Macau and Taiwan. The Group’s services,namely flexible staffing, recruitment & solutions and other HR services, are aimed at providing comprehensive human resources solutions throughout different stages of clients’ business cycles. The Group’s largest stakeholder, ManpowerGroup Inc., is a Fortune 500 company listed on the New York Stock Exchange(NYSE:MAN) and is a global leader in workforce solutions and services with operating history of over 70 years and a network of nearly 2,600 offices. 

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