Business summary
The Group provides integrated human resources solutions and other human resources services to clients in various markets in Greater China (i.e. mainland China, Hong Kong, Macau and Taiwan). ManpowerGroup Inc., the group's biggest stakeholder, is listed on the New York Stock Exchange and is a global leader in human resources solutions and services. Headquartered in Wisconsin, USA, MAN is a Fortune 500 company with a global network of nearly 2,600 offices in 80 countries and regions, including the Americas, Europe, Asia Pacific and the Middle East. MAN led advanced forces in Greater China in 1997 and began operations in Hong Kong and Taiwan. They then advanced to mainland China and Macau in 2003 and 2007. As of today, the Group has served many enterprises and government customers in more than 130 cities in the Greater China market, operating more than 20 offices as of December 31, 2018. As of December 31, 2018, the Group has provided services to more than 22,500 clients, including over 260 Fortune 500 companies, as well as well-known local public and private employers, such as Lenovo and several other leading technology companies in mainland China.
Competitive advantage
World-renowned brands, trusted by international and local customers
It has the advantage of occupying one seat in the rapidly growing human resources services market in mainland China
Rooted in local markets, a long history of operation and a strong customer base
Risk Factors
Operating performance may be significantly adversely affected by fluctuations or uncertainties, and demand for group services may be affected by geopolitical events such as the Sino-US trade war and Brexit
If the group fails to continue to provide quality services, it may not be able to retain existing customers and attract new customers
May not be able to remain competitive in an ever-changing market
Use of proceeds
Approximately 30.0% will be used to further expand business scale and market share
About 30.0% will be used as a platform to invest in R&D, enhance technical capabilities and develop digital human resources
Approximately 25.0% were used to seek strategic mergers and acquisitions
Approximately 5.0% will be used to further invest in brand building and digital marketing
Approximately 10.0% is used as general working capital