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ManpowerGroup Greater China Announces 2021 Annual Results

2022-03-31

Financial Highlights

  •  As of 31 December 2021, the Group recorded total revenue of RMB3968.9 million, representing an increase of approximately 23.2% compared to the same period of 2020.
  •  Revenue generated from flexible staffing segment, the largest business segment of the Group, grew by approximately 22.5% on a year over year basis to RMB3688.6 million, of which the flexible staffing revenue from Mainland China achieved historical high growth of 41% on a year over year basis.
  • Recruitment & Solutions (Headhunting & RPO) segment continued to maintain strong growth momentum with revenue increasing by 33.3% on a year-over-year basis to RMB248.3 million.
  • Net profit attributable to owners of the Company increased to RMB139.2 million, representing an increase of approximately 10.1% year over year. Adjusted net profit attributable to owners of the Company recorded RMB145.7 million after adjusting expenses, growing by 7.0% year over year.
  • The Board recommended payment of a final dividend of HKD$0.37 per ordinary share for the year ended 31 December 2021, representing approximately 45% of the Group’s earnings per share 


(31 March 2022 – Hong Kong) ManpowerGroup Greater China Limited (“ManpowerGroup Greater China” or together with its subsidiaries, the “Group”; stock code: 2180.HK) is pleased to announce its annual results today for the 12 months ended 31 December 2021 (the “Period”). For the full year 2021, the Group achieved strong growth in all business lines. Total revenue increased by approximately 23.2% compared to the same period of 2020 to RMB3968.9 million. Revenue generated from flexible staffing segment, the largest business segment of the Group, grew by approximately 22.5% on a year over year basis to RMB3688.6 million, of which the flexible staffing revenue from Mainland China achieved historical high growth of 41% compared with last year

Recruitment & Solutions (Headhunting & RPO) segment, the second largest business segment of the Group, continued to maintain strong growth momentum with revenue increasing by 33.3% year-on-year to RMB248.3 million. During the Period, net profit attributable to owners of the Company increased to RMB139.2 million, representing a growth of approximately 10.1% year over year. Adjusted net profit attributable to owners of the Company recorded RMB145.7 million, growing by 7.0% year over year. The Board recommended payment of a final dividend of HKD$0.37 per ordinary share for the year ended 31 December 2021, representing approximately 45% of the Group’s earnings per share.

Flexible staffing in Mainland China recorded historical high growth 

Despite the continuing Covid-19 pandemic, increasing geo political tension, and volatile macroeconomic environments, the Group continued to deliver solid growth of its flexible staffing business with revenue from Mainland China achieving historical high growth of 41% on a year over year basis. During the Period, in a view of accelerating expansion into under-penetrated regions in southern, central, and western China, the Group has increased its team capacity in Wuhan and Chengdu, as well as in tier-one cities including Beijing, Shanghai, Shenzhen, Guangzhou to bolster its strong market position. The total number of associates placed during the Period increased by 24.7% from approximately 38,500 as of the end of 2020 to approximately 48000 as of 31 December 2021, among which the total number of associates placed in Mainland China grew by approximately 40%.  

In addition, the Group further strengthened business development capabilities in the New Economy and Technology sector, to which its top 5 clients belong, with the number of clients from such sector increasing by 21.0% on a year over year basis. 

Technology platform to further shore up competitiveness

To implement its strategic initiatives of digitalisation, the Group has been transforming its workforce technology platform by providing HR SaaS product to corporate clients, small HR service providers, the Group’s alliance and invested companies to enlarge its own client base, facilitate order matching, and enhance distribution productivity. 

By the end of 2021, the Group’s mobile recruiting platform(天天U才) recorded approximately 46400 Monthly Active Users (MAUs) with approximately 15000 new positions posted; the collaborative platform (天天U單) had posted approximately 12400 positions during the year; the Group’s employee value-adding platform (天天U福) had registered over 27000 members. In addition, the Group’s HR SaaS platform has been refined across Mainland China, Hong Kong, Taiwan and Macau. As of the end 2021, the Group’s talent pool reached a total number of around 570 million. 

Leading Human Resources Services Provider in Greater China with Wide Recognition

The Group’s efforts in providing customized and professional services to its clients in the Greater China region have been recognized with a number of awards, including “Top 3 in China’s Headhunting Industry Ranking in 2021” (“2021中國獵頭行業排行榜Top3”) by TopHR, “2021 China Recruitment & Staffing Supplier 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 “Top 30 Chinese HR Technology Innovation Brands” (“中國人力資源科技創新品牌30強”) by HR Tech China. 

Looking forward to the year of 2022, despite the ongoing COVID-19 pandemic, escalated regional conflicts, and uncertain global political and economic outlook, the Group is cautiously optimistic with the confidence of the resilience of its people, the robustness of the business model, and the diversification within the business. 

Mr. Ricky Cui, Executive Director and CEO of the Group said, “We are confident about the growth potential of the human resources 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 competitiveness of the workforce technology platform, will help us take full advantage of the growth potential of the human resources market in the Greater China region.”

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