On June 8, 2017 Career International successfully completed its IPO on the ChiNext Market of the Shenzhen Stock Exchange. The company had an issuance of 45 million A-shares at a price of 6.55 yuan per share. According to Career International, the proceeds raised will be used to fund the expansion of the company’s human resources (HR) services network and its comprehensive digital upgrade.
As China’s first A-share listed HR service provider, Career International has over 1,000 professional recruitment consultants working in 73 offices across mainland China, Hong Kong, India, Singapore, Malaysia and other Asian countries and regions, offering a full suite of HR services including executive search, recruitment process outsourcing (RPO) and flexible staffing for clients across 18 sectors and industries.
Career International has entered into long-term partnerships with over 2,000 multinational corporations, locally listed companies, fast-growing private firms and non-profits. In the past year, the company has successfully recommended more than 15,000 middle to senior-level management, professional and technical talents, as well as over 60,000 times of total-risk flexible staffing.
Based on 21 years of commitment to the HR sector, Career International established a stable business model early on that has assured the company’s sustainable profitability. With leading international investors such as Matrix Partners and Morgan Stanley as strategic shareholders, the company has benefited from the global networks and resources of these two key investors to sustain the growth of international operations and maintain industry leadership.
As of the end of 2016, assets totaled 526.06 million yuan backed by operating revenue for the year of 868.14 million yuan. Average compound annual growth rate over the last three years reached 17.73%. Looking forward, Career International plans to further improve upstream and downstream products and services competencies all along the HR service industry chain, consolidate its Asia Pacific presence via capital injection and expansion and enhance its footprint across North America and Europe, culminating in a complete global business network based in China.
The listing is expected to have a far-reaching impact on the future development of China’s HR market. As of the end of 2015, China’sHR service market as a whole reported total revenue of 968 billion yuan with the figure on track to surpass 2 trillion yuan by 2020. In addition, the fast growth of an industry leader will facilitate consolidation of the highly fragmented industry and attract more capital that can be expected to boost further growth.
SOURCE Career International
Edited by G. Davila