Strong Internal Momentum: RENRUI HR's 2024 Performance Increased by 22.4% Year-on-Year

According to Zhitong Finance APP, on March 31, 2025, Renrui Talent Technology Holdings Limited (stock code: 06919), a leading integrated human resources service and digital technology solutions provider in China, announced its annual performance report for 2024, which ended on December 31, 2024. The report shows that Renrui Talent's revenue for 2024 reached 5.473 billion yuan, an increase of approximately 22.4% year-on-year; gross profit was approximately 499 million yuan, an increase of about 18.1% year-on-year; and adjusted net profit attributable to shareholders was approximately 88 million yuan, an increase of about 28.8% year-on-year. The performance report indicates that Renrui Talent's revenue in 2024 mainly came from general service outsourcing, digital technology and cloud services, digital operations and customer service, recruitment, etc., with all business segments achieving steady growth. Among them, comprehensive flexible staffing services, including general service outsourcing and digital technology and cloud services, achieved revenue of approximately 5.43 billion yuan in 2024, a year-on-year increase of about 22.5%. The number of employees in comprehensive flexible staffing increased from 35,908 at the end of 2023 to 41,868 at the end of 2024. The number of employees in general service outsourcing increased by 14.8% year-on-year to 26,319, while the number of employees in information technology flexible staffing increased by 25.0% to 11,834. Strong endogenous momentum is the key to Renrui Talent's performance growth in 2024. Revenue from digital technology and cloud services reached approximately 2.14 billion yuan, a year-on-year increase of 22.4%, with gross profit from this business increasing by 14.5% year-on-year to 275 million yuan, accounting for about 55.2% of Renrui Talent's overall gross profit. Notably, excluding the contribution from the sold Shanghai Sire, the number of employees in information technology flexible staffing still reached 6,899 (2023: 5,072), with a year-on-year increase of approximately 36.0%. Clients mainly come from technology and internet, intelligent manufacturing and automotive, telecommunications, and automotive sectors, with 27 clients having more than 100 outsourced employees. Wang Sai, managing partner of the Kotler Consulting Group in China, pointed out in his book "Growth Structure" that "the endogenous growth capability of enterprises has become the dividing line between mediocre and great enterprises, which can deduce who is swimming naked after the wave." The essence of endogenous growth is the upgrade of a company's value creation capability, reflecting the sustainability and long-term competitiveness of the business. Endogenous growth relies on the enhancement of the company's own capabilities (such as technology research and development, process optimization, brand building), and once this capability is formed, it becomes a structural advantage that is difficult for competitors to replicate quickly. Renrui Talent's business development is a model of endogenous growth. Since it first proposed "secondary entrepreneurship" in mid-2021, focusing on building a "second growth curve" in the digital technology talent business, it has just been three years, and Renrui Talent has achieved a leap from 0 to over 2 billion yuan in this business, with the endogenous portion accounting for 58.3% of the number of employees as of the end of 2024, becoming the biggest driving force behind Renrui Talent's continuous performance explosion