Career International Released 2019 Annual Report: Revenues over RMB 3.5 Bn Yuan ($507 Mn USD), with Net Income Attributable to Shareholders 29.38% up YOY

2019-04-23 11:16

The A-shares listed talent sourcing agency Career International (300662.SZ) published its Annual Report 2019 on April 23rd. According to the report, the company’s revenues reached RMB 3.586 Bn Yuan ($508 Mn USD), up 63.24% Year-on-Year (YoY), for the year ended December 31, 2019 (“the review year”); net income attributable to shareholders increased by 29.38% YoY to RMB 152 Mn Yuan ($22Mn USD); and net income net of non-recurring gains and losses attributable to shareholders grew to RMB 133 Mn Yuan ($19 Mn USD) with a rise of 22.91% from a year earlier.

Upholding its “Four Basic Strategies”, Career International has fostered innovation in technologies and business models, and sought a sustainable business growth through coordinated development of domestic and foreign markets. With the joint efforts of 2,200+ seasoned consultants at CI, 28,300-plus mid-to-senior managerial and technical candidates were recommended to over 3,700 clients, and 250+ profit centers formed in the review year.

Enhanced service capability as enabled by technology

As cloud computing, AI and digitalization has become a vital strategy for China, digital technology is applied to make up for the loss of population dividend in human resources development. As a response, CI has continued to advance its digital transformation and thus enhances its overall service capability. By growing its technical strength, the company is dedicated to developing new business model of “products + services” tailored to the demands of long tail customers.

During the reporting period, CI increased investments in “CAIDAO” (HR SaaS) and other HR technologies. After careful and considerable adjustments, it has developed a clear product system based on three new platforms: SaaS products based on “CAIDAO” that offer talent recruitment, induction, attendance and C&B management; Specialized hiring platforms based on “Your Career” dedicated to niche positions and fields like graduates, Big Health, Retail, etc.; and an HR platform “Hewa” based on crowdsourcing model.

Meanwhile, Career International has kept up with customer demands to deliver innovative services. The developing of data analytics platforms for BI has empowered various front-end business scenarios. The project results have been used into our candidate tracking system (CTS) to make the work of consultants more efficient in resumes analysis, screening and candidate-position matching. New service functions online like multi-party interview are realized to meet the varying needs of different clients.

Advanced “front-end & back-end” business operations with focus on five major economic circles

As for business development offline, CI is devoted to enhancing cross selling among three of its major businesses, namely executive search, recruitment process outsourcing and flexible staffing. Via creating novel business model of “HR service + platform + technology”, CI aims to cultivate growth point in new job functions and positions across different industries. Also, it advocates the “front-end & back-end” business operations, combined with specializations in different positions and economic circles. And so far, the company has excelled at filling openings in R&D, engineering, manufacturing, supply chain, marketing, sales, finance, law, HR, etc. from 18 sectors.

In order to better develop long tail customers and increase its market share, CI is now focused on China’s five major economic circles of Greater Bay Area, the Yangtze River Delta, the middle and lower reaches of the Yangtze River, Beijing-Tianjin-Hebei region and Chengdu-Chongqing city cluster. The company has endeavored to offer more specialized HR services via focusing on “industries + economic circles” to answer the needs of clients from within.

Promising flexible staffing business with coordinated development between domestic and foreign markets

The advent of the shared economy has gradually changed traditional human resources service model. Diversified employment is playing a greater role in reconstructing relationship between individual and organization. Thus, flexible staffing has emerged, and prospered against the outbreak of coronavirus. Being among the pioneers of flexible staffing service in China, Career International has seen this business flourishing. It generated 2,766 Mn yuan ($392 Mn USD) in the review year and contributed close to 80% of the group’s overall revenues, with up to 160,600 dispatches.

While as to overseas business, Cl has expanded its global market in an active but careful way, by seizing the business opportunities brought about by the global expansion of Chinese and foreign corporates, as well as the “Belt and Road” initiatives. As of the end of the reporting period, we’ve opened 109 branches worldwide with presence in China, the UK, the Netherlands, Singapore, India, Thailand, Malaysia, Indonesia, Vietnam, and the US. To add up, revenues from markets outside Mainland China accounted for over 30% of the group’s total.

The coronavirus outbreak early this year has exerted a great impact on the economic and social development. Facing the rapidly changing market, Career International has rolled out a series of non-contact integrated talent solutions thanks to its tech advantages. The company has actively assisted Chinese local governments and enterprises in carrying out online hiring, interviewing, testing and onboarding to acquire talents in these special times. Also, CI has worked to promote employment of graduates via online campus recruitment and other campaigns, so as to relieve the pressure of employment amid the COVID-19 pandemic.

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