Career International 2021 Annual Report released: Business growth sees strong momentum and sustained development

2022-04-22 10:22

Career International (300662.SZ), China’s first A-share listed talent sourcing agency, published its 2021 Annual Report on April 21st. According to the report, the company's business income and net profit touched record highs in 2021, demonstrating strong growth potential and resilience. Specifically speaking, revenues registered RMB 7.01 billion for the year ending December 31st, 2021, a Year-over-Year (YoY) increase of 78.29%; net profit attributable to shareholders rose by 35.55% YoY to RMB 253 million, and net profit after deducting non-recurring gains and losses attributable to shareholders touched RMB 211 million, a YoY increase of 41.09%. 

Over the past year, in the face of new situations and challenges in China and overseas, Career International, the leading comprehensive technology-driven talent solution provider, advanced its “HR Technology + Platform + Service” business model and increased technical investment in an all-round manner. The company continued with its strategy of “Specialization, Standardization, Normalization and Digitalization”,  and consistently focused on core products, service scenarios, and ecosystem platforms. Furthermore, Career International continued to consolidate its international service capabilities by expanding its global footprints, to enhance its overall hard power and competitiveness. During the reporting period, the company’s platforms had upwards of 16,000 registered clients, a YoY increase of 200%; nearly 6,200 customers contributed to the company’s business performance in 2021, a YoY increase of 17%. The company successfully recommended 35,000 mid-to-senior level managerial and technical candidates to clients in China and overseas, up 40% YoY. Furthermore, it also dispatched temporary workers to 311,750 jobs through its flexible staffing services, which saw a YoY growth of 64%.

Focused on building professional expertise in niche domain—improved quality and efficiency became the cornerstone of profit

In 2021, Career International continued its business strategies of “synergy between front-end and back-end office”, “one recruitment specialist for one job position”, and “focus on five major economic circles”. Placing impetus on key economic circles, industries, customers, and positions, the company worked to strengthen professional expertise in niche domains. Leveraging technology, it further improved the job-talent matching efficiency and delivery rate, which prompted strong growth in offline business.

Career International’s executive search business runs along two main lines—region and industry, and achieved breakthrough in the fields of big health, semiconductors, cloud computing, new energy, electronic manufacturing, artificial intelligence, etc. The overall revenues of executive search grew by more than 50% YoY. The recruitment process outsourcing service continued to target key accounts, while strengthening and integrating the advantages of internal and external resources, with YoY revenues up 30%. With standardizing service middle end and enabling technology middle end, the candidate sourcing center ensured more efficient recruitment, and the business revenues of flexible staffing registered rapid growth of more than 90% YoY. Among them, domestic flexible staffing increased significantly, with a YoY increase of more than 115%, and took the lead in the outsourcing of professional and technical jobs such as IT R&D, pharma R&D, technicians, etc.

Technology as a foundation—"second curve" fosters new growth points

During the reporting period, Career International invested over RMB 110 million in technology innovation. The company’s technology platforms and SaaS products worked as traffic portals, connecting a wider range of long-tail customers. This helped enhance the “front-end” business development capabilities, while releasing professional and standardized products in the market, enabling co-creation and sharing with ecosystem partners and empowering the digital intelligence of governments and enterprises.

As of the end of the reporting period, Yimai Tongdao, a comprehensive vertical recruitment platform in the big health field under Career International, saw its userbase grow to over 11,000 registered enterprise users, acquired data on more than 600,000 candidates, and saw nearly 300,000 monthly active users (MAU). Furthermore, Career International’s HR SaaS solution CAIDAO Cloud provided services to over 200 enterprises. In particular, the SaaS product “Integrated Recruitment and Examination System”, which is designed to meet the needs of government institutions for talent recruitment and online examinations, served more than 800 clients. Career International’s HR industry interconnection platform, Hewa, attracted registration by 6,500+ talent service agencies and 57,000+ recruiting consultants, and delivered 11,000+ mid-to-senior positions.

In addition, Career International has signed contracts to set up and implement “Region Talent Brain” platforms in Chongqing High-tech Zone and Wuhu/Anhui. In future, more projects will be launched in key areas and major economic circles, to link talent chains with industry chains and provide local governments strong support in talent introduction and placement.

Global service capabilities manifested under a dual circulation development pattern

Under the novel dual circulation development pattern and the basic “Belt and Road” strategy, and at the new development stage of human resources service industry, Career International continues to adhere to its global expansion goals. Giving full play to their advantages, and getting integrated into the global talent chain, the company aspires to further enhance global service capabilities, and provide talent support for accelerating the construction of building China into the world's major talent center and innovation highland. As of the end of the reporting period, Career International had set up more than 110 branches with 300-plus professional consultants worldwide. Revenues from markets outside mainland China jumped by 44.34%, equaling nearly 30% of the group’s total. In UK’s leading recruiting specialist Investigo alone, the company’s overall business revenues increased by 44.18% YoY, with recruiting business up 82.79% YoY and flexible staffing business up 29.15% YoY. Overseas business has registered steady growth.

Be actively involved in public welfare activities and practice corporate social responsibility

Career International eagerly shoulders its social responsibility and mission and strives to create value for society. The company adheres to the belief of being a responsible enterprise to achieve sustainable development of the company and the society. During the reporting period, Career International contributed efforts to social welfare, rural revitalization, and employment promotion. Specifically, it donated RMB 500,000 to the Red Cross Society of Zhengzhou for rainstorm disaster relief and rescue and offered help to improve the infrastructure in Shuixiang Village in Kangbao County of Hebei Province, North China. It also supported the Ministry of Human Resources and Social Security’s 2021 job fair for graduates, held jointly by large and medium-sized cities. During the event, it released more than 5,000 job openings, organized seminars on job market and career planning for 22 colleges and universities, and provided nearly 20,000 internship opportunities, which attracted over 120,000 views of graduates.

The human resources service industry is ushering in a new development era and there are tremendous opportunities. Career International will continue with its advantageous "HR Tech + Platform + Service" business model, while accelerating the company’s development. It will help create rich ecological interconnections and enhance the efficiency of human resource elements at both ends of the supply and demand, while covering a wider range and creating greater value.