Renrui Human Resources Technology Holdings Limited provided earnings guidance for the financial year ended 31 December 2020. The Group expects to record (i) an increase in revenue of approximately 20% to 30% for full year 2020 as compared to the revenue (audited) for the corresponding period in 2019, and (ii) net profit for full year 2020 of approximately RMB160 million to RMB 175 million, as compared to the net loss (audited) of approximately RMB 779.8 million for the corresponding period in 2019, which was mainly due to the fact that (i) no fair value loss on hybrid financial instruments were incurred in full year 2020 following the conversion of preferred shares held by certain pre-IPO investors into ordinary shares of the Company upon the listing of the Shares on the Stock Exchange in December 2019; and (ii) leveraging on the gradual cessation of the epidemic effect of COVID-19 in the second half of FY2020, the Group's business has been improved. In the second half of FY2020, revenue generated from flexible staffing services increased due to the continuous increase in the number of the Group's flexible staffing employees deployed to clients, and revenue generated from professional recruitment also increased due to the greater recruitment demand from clients. The Group's gross profit margin for the second half of FY2020 has also increased as compared to that for the first half of full year 2020. The above estimated net profit for full year 2020 represented an increase of approximately 20% to 30%, as compared to the adjusted net profit of approximately RMB 134.3 million for the corresponding period in 2019, which was mainly due to the increase in revenue as a result of the Group's improved business.