《大行報告》匯豐研究首予人瑞人才(06919.HK)、萬寶盛華(02180.HK)及同道獵聘(06100.HK)「買入」評級 內地HR外包行業方興未艾
匯豐研究發表報告,指對內地人力資源服務行業看法樂觀,屬修正市場不平衡的關鍵;並料彈性上崗及線上招聘兩大板塊將有最強增長展望,首予人瑞人才(06919.HK)、萬寶盛華(02180.HK)及同道獵聘(06100.HK)「買入」投資評級,目標價分別45元、18元及35元。考慮低估值,該行偏好彈性合約工服務供應商人瑞人才及萬寶盛華。
報告稱,隨著內地邁向高科技及服務導向經濟,重塑了對技術員工需求。公司對所招聘員工質素及其職業經驗更加重視。不過,勞工市場適應不易,企業難於填補空缺,而求職者亦面對更大競爭。這亦是HR服務外部供應商發揮作用之處,特別是專注招聘臨時工及線上招聘的企業。有些情況下,它們可以三日內招聘100名員工,少於行業平均需時十日。這類行業正在崛起,但滲透率仍低,特別是相對於全球其他地方,意味蘊藏重大機遇。
匯豐料人瑞人才及萬寶盛華未來兩年核心純利增長逾20%,其估值屆谷底並不合理,料迎來估值重評機遇。另該行稱同道獵聘是更科技及線上導向,主要向僱主提供服務,但現正轉型至服務平台,並提供更多元化產品組合。
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