EX-99.1 2 v472416_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

 

Contact:

Linda Chien

Investor Relations

51job, Inc.

+86-21-6879-6250

ir@51job.com

 

51job, Inc. Reports Second Quarter 2017 Financial Results

 

SHANGHAI, August 3, 201751job, Inc. (Nasdaq: JOBS) (“51job” or the “Company”), a leading provider of integrated human resource services in China, announced today its unaudited financial results for the second quarter of 2017 ended June 30, 2017.

 

Second Quarter 2017 Financial Highlights:

 

·Total revenues increased 20.3% over Q2 2016 to RMB673.2 million (US$99.3 million), exceeding the Company’s guidance range

 

·Online recruitment services revenues increased 19.0% over Q2 2016 to RMB443.9 million (US$65.5 million)

 

·Other human resource related revenues increased 22.8% over Q2 2016 to RMB229.2 million (US$33.8 million), which reflected the impact of a value-added tax (“VAT”) policy change effective May 1, 2016

 

·Gross margin of 73.2% compared with 71.8% in Q2 2016

 

·Income from operations increased 46.8% over Q2 2016 to RMB188.1 million (US$27.7 million)

 

·Fully diluted earnings per share were RMB1.16 (US$0.17)

 

·Excluding share-based compensation expense, loss from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect of these items, non-GAAP adjusted fully diluted earnings per share were RMB3.34 (US$0.49), exceeding the Company’s guidance range

 

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, “We are pleased to deliver a solid second quarter, during which we continued to build positive sales momentum and raise operating efficiency throughout the company. Our online business again successfully balanced robust acquisition of new users with increased spend by established customers to maintain a consistent overall average revenue per employer level. In the other HR services area, we saw an improved growth trajectory as our intensified cross-selling efforts gained traction and the impact of VAT implementation on year-over-year revenue comparisons came to an end. The investments we have made in business productivity and product development are bearing fruit, and we are confident that we are strengthening 51job’s position as the full service, end-to-end HR solutions leader in China.”

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

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Second Quarter 2017 Unaudited Financial Results

 

Total revenues for the second quarter ended June 30, 2017 were RMB673.2 million (US$99.3 million), an increase of 20.3% from RMB559.8 million for the same quarter in 2016.

 

Online recruitment services revenues for the second quarter of 2017 were RMB443.9 million (US$65.5 million), representing a 19.0% increase from RMB373.1 million for the same quarter of the prior year. The growth was driven by an increase in the number of unique employers utilizing the Company’s online services as well as higher revenue per unique employer. The number of unique employers increased 18.1% to 380,717 in the second quarter of 2017 compared with 322,236 in the same quarter of the prior year due to strong customer acquisition. Average revenue per unique employer increased 0.7% in the second quarter of 2017 as compared with the same quarter in 2016.

 

Other human resource related revenues for the second quarter of 2017 increased 22.8% to RMB229.2 million (US$33.8 million) from RMB186.6 million in the same quarter of 2016. The increase was primarily due to greater customer adoption and usage of business process outsourcing, training and placement services. However, this growth was slightly offset by the remaining impact from the implementation of a VAT policy change effective May 1, 2016 on year-over-year revenue comparisons.

 

Gross profit for the second quarter of 2017 increased 23.3% to RMB487.0 million (US$71.8 million) from RMB395.0 million for the same quarter of the prior year. Gross margin, which is gross profit as a percentage of net revenues, was 73.2% in the second quarter of 2017 compared with 71.8% in the same quarter in 2016.

 

Operating expenses for the second quarter of 2017 increased 12.0% to RMB298.9 million (US$44.1 million) from RMB266.8 million for the same quarter of 2016. Sales and marketing expenses for the second quarter of 2017 increased 15.3% to RMB228.2 million (US$33.7 million) from RMB198.0 million for the same quarter of the prior year primarily due to higher employee compensation expenses, headcount additions and greater advertising expenditures. General and administrative expenses for the second quarter of 2017 increased 2.6% to RMB70.6 million (US$10.4 million) from RMB68.9 million for the same quarter of the prior year primarily due to higher employee and office expenses, which was largely offset by a decrease in share-based compensation expense.

 

Income from operations for the second quarter of 2017 increased 46.8% to RMB188.1 million (US$27.7 million) from RMB128.2 million for the second quarter of 2016. Operating margin, which is income from operations as a percentage of net revenues, increased to 28.3% in the second quarter of 2017 compared with 23.3% in the same quarter of 2016. Excluding share-based compensation expense, operating margin would have been 31.3% in the second quarter of 2017 compared with 27.5% in the same quarter of 2016.

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

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The Company recognized a loss from foreign currency translation of RMB1.8 million (US$0.3 million) in the second quarter of 2017 compared with RMB6.6 million in the second quarter of 2016 primarily due to the impact of the change in exchange rate between the Renminbi and the U.S. dollar on the Company’s U.S. dollar cash deposits and U.S. dollar-denominated convertible senior notes issued in 2014.

 

In the second quarter of 2017, the Company recognized a mark-to-market, non-cash loss of RMB114.8 million (US$16.9 million) associated with a change in fair value of convertible senior notes compared with a gain of RMB8.6 million in the second quarter of 2016.

 

Other income in the second quarter of 2017 included local government financial subsidies of RMB20.5 million (US$3.0 million) compared with RMB64.2 million in the second quarter of 2016.

 

Net income attributable to 51job for the second quarter of 2017 was RMB70.6 million (US$10.4 million) compared with RMB168.7 million for the same quarter in 2016. Fully diluted earnings per share for the second quarter of 2017 were RMB1.16 (US$0.17) compared with RMB2.90 for the same quarter in 2016.

 

In the second quarter of 2017, total share-based compensation expense was RMB19.9 million (US$2.9 million) compared with RMB23.1 million in the second quarter of 2016.

 

Excluding share-based compensation expense, loss from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job for the second quarter of 2017 increased 9.1% to RMB207.1 million (US$30.5 million) compared with RMB189.8 million for the second quarter of 2016. Non-GAAP adjusted fully diluted earnings per share were RMB3.34 (US$0.49) in the second quarter of 2017 compared with RMB3.19 in the second quarter of 2016.

 

As of June 30, 2017, cash and short-term investments totaled RMB7,003.7 million (US$1,033.1 million) compared with RMB6,080.4 million as of December 31, 2016. Short-term investments consist of certificates of deposit with original maturities from three months to one year.

 

Business Outlook

 

Based on current market and operating conditions, the Company’s total revenues target for the third quarter of 2017 is in the estimated range of RMB685 million to RMB705 million (US$101.0 million to US$104.0 million).

 

Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of convertible senior notes. The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact and changes. Excluding share-based compensation expense, any gain or loss from foreign currency translation, and any mark-to-market gain or loss associated with a change in fair value of convertible senior notes, as well as the related tax effect of these items, the Company’s non-GAAP fully diluted earnings target for the third quarter of 2017 is in the estimated range of RMB3.10 to RMB3.30 (US$0.46 to US$0.49) per share. The Company expects total share-based compensation expense in the third quarter of 2017 to be in the estimated range of RMB24 million to RMB25 million (US$3.5 million to US$3.7 million).

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

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Currency Convenience Translation

 

For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollars at the rate of RMB6.7793 to US$1.00, the noon buying rate on June 30, 2017 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

 

Conference Call Information

 

The Company’s management will hold a conference call at 9:00 p.m. Eastern Time on August 3, 2017 (9:00 a.m. Beijing / Hong Kong time zone on August 4, 2017) to discuss its second quarter 2017 financial results, operating performance and business outlook. To dial in to the call, please use the following telephone numbers:

 

US: +1-888-346-8982

International: +1-412-902-4272

Hong Kong: 800-905945

China: 4001-201203

Conference ID: 51job

 

The call will also be available live and on replay through 51job’s investor relations website, http://ir.51job.com.

 

Use of Non-GAAP Financial Measures

 

To supplement the consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), 51job uses non-GAAP financial measures of income before income tax expense, income tax expense, adjusted net income, adjusted net income attributable to 51job and adjusted earnings per share, which are adjusted from results based on GAAP to exclude share-based compensation expense, loss from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect of these items. The Company believes excluding share-based compensation expense and its related tax effect from its non-GAAP financial measures is useful for its management and investors to assess and analyze the Company’s core operating results as such expense is not directly attributable to the underlying performance of the Company’s business operations and do not impact its cash earnings. The Company believes excluding loss from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect, from its non-GAAP financial measures is useful for its management and investors as such translation or mark-to-market gain/loss is not indicative of the Company’s core business operations and will not result in cash settlement nor impact the Company’s cash earnings. 51job also believes these non-GAAP financial measures excluding share-based compensation expense, loss from foreign currency translation and change in fair value of convertible senior notes, as well as the related tax effect of these items, are important in helping investors to understand the Company’s current financial performance and future prospects and to compare business trends among different reporting periods on a consistent basis. The presentation of these additional measures should not be considered a substitute for or superior to GAAP results or as being comparable to results reported or forecasted by other companies. The non-GAAP measures have been reconciled to GAAP measures in the attached financial statements.

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

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About 51job

 

Founded in 1998, 51job is a leading provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. The Company’s main online recruitment platforms (http://www.51job.com, http://www.yingjiesheng.com, and http://www.51jingying.com), as well as mobile applications, connect millions of people with employment opportunities every day. 51job also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, executive search and compensation analysis. 51job has a call center in Wuhan and a nationwide sales office network spanning 25 cities across China.

 

Safe Harbor Statement

 

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," “targets, "confident" and similar statements. Among other things, statements that are not historical facts, including statements about 51job’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as 51job’s strategic and operational plans, are or contain forward-looking statements. 51job may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. All forward-looking statements are based upon management’s expectations at the time of the statements and involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: execution of 51job’s strategies and business plans; behavioral and operational changes of enterprises in meeting their human resource needs as they respond to evolving social, political, regulatory and financial conditions in China; introduction by competitors of new or enhanced products or services; price competition in the market for the various human resource services that 51job provides in China; acceptance of new products and services developed or introduced by 51job outside of the human resources industry; risks related to acquisitions or investments 51job has made or will make in the future; accounting adjustments that may occur during the quarterly or annual close or auditing process; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; and fluctuations in general economic and business conditions in China. Further information regarding these and other risks are included in 51job’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release and based on assumptions that 51job believes to be reasonable as of this date, and 51job undertakes no obligation to update any forward-looking statement, except as required under applicable law.

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

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51job, Inc.

Consolidated Statements of Operations and Comprehensive Income

            

   For the Three Months Ended 
   June 30, 2016   June 30, 2017   June 30, 2017 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
Revenues:               
Online recruitment services   373,146    443,945    65,485 
Other human resource related revenues   186,608    229,222    33,812 
                
Total revenues   559,754    673,167    99,297 
Less: Business tax and surcharges   (9,235)   (7,620)   (1,124)
                
Net revenues   550,519    665,547    98,173 
Cost of services (Note 2)   (155,480)   (178,541)   (26,336)
                
Gross profit   395,039    487,006    71,837 
                
Operating expenses:               
Sales and marketing (Note 3)   (197,979)   (228,247)   (33,668)
General and administrative (Note 4)   (68,869)   (70,638)   (10,420)
                
Total operating expenses   (266,848)   (298,885)   (44,088)
                
Income from operations   128,191    188,121    27,749 
                
Loss from foreign currency translation   (6,577)   (1,822)   (269)
Interest and investment income, net   13,900    19,451    2,869 
Change in fair value of convertible senior notes   8,596    (114,829)   (16,938)
Other income, net   64,421    20,366    3,004 
                
Income before income tax expense   208,531    111,287    16,415 
Income tax expense   (40,332)   (40,529)   (5,978)
                
Net income   168,199    70,758    10,437 
Net loss (income) attributable to non-controlling interests   490    (164)   (24)
                
Net income attributable to 51job, Inc.   168,689    70,594    10,413 
                
Net income   168,199    70,758    10,437 
Other comprehensive income (loss)   371    (345)   (51)
                
Total comprehensive income   168,570    70,413    10,386 
                
Earnings per share:               
Basic   2.91    1.18    0.17 
Diluted (Note 5)   2.90    1.16    0.17 
                
Weighted average number of common shares outstanding:               
Basic   58,065,551    60,031,311    60,031,311 
Diluted   58,257,432    60,831,254    60,831,254 

 

 

Notes:

(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.7793 to US$1.00 on June 30, 2017 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

(2) Includes share-based compensation expense of RMB3,701 and RMB3,186 (US$470) for the three months ended June 30, 2016 and 2017, respectively.

(3) Includes share-based compensation expense of RMB3,183 and RMB2,739 (US$404) for the three months ended June 30, 2016 and 2017, respectively.

(4) Includes share-based compensation expense of RMB16,219 and RMB13,961 (US$2,059) for the three months ended June 30, 2016 and 2017, respectively.

(5) Diluted earnings per share is calculated in accordance with the "if converted" method. The potential conversion of the convertible senior notes was excluded in the computation of diluted earnings per share for the three months ended June 30, 2016 and 2017 because the effect would be anti-dilutive.

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

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51job, Inc.

Consolidated Statements of Operations and Comprehensive Income

            

   For the Six Months Ended 
   June 30, 2016   June 30, 2017   June 30, 2017 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
Revenues:               
Online recruitment services   724,908    864,033    127,452 
Other human resource related revenues   358,602    416,847    61,488 
                
Total revenues   1,083,510    1,280,880    188,940 
Less: Business tax and surcharges   (21,461)   (15,678)   (2,313)
                
Net revenues   1,062,049    1,265,202    186,627 
Cost of services (Note 2)   (294,727)   (337,209)   (49,741)
                
Gross profit   767,322    927,993    136,886 
                
Operating expenses:               
Sales and marketing (Note 3)   (375,712)   (433,130)   (63,890)
General and administrative (Note 4)   (136,328)   (142,297)   (20,990)
                
Total operating expenses   (512,040)   (575,427)   (84,880)
                
Income from operations   255,282    352,566    52,006 
                
Loss from foreign currency translation   (1,308)   (1,862)   (275)
Interest and investment income, net   32,559    34,874    5,144 
Change in fair value of convertible senior notes   (31,012)   (139,910)   (20,638)
Other income, net   64,376    69,724    10,285 
                
Income before income tax expense   319,897    315,392    46,522 
Income tax expense   (65,889)   (81,606)   (12,038)
                
Net income   254,008    233,786    34,484 
Net loss (income) attributable to non-controlling interests   538    (272)   (40)
                
Net income attributable to 51job, Inc.   254,546    233,514    34,444 
                
Net income   254,008    233,786    34,484 
Other comprehensive income (loss)   293    (461)   (68)
                
Total comprehensive income   254,301    233,325    34,416 
                
Earnings per share:               
Basic   4.40    3.93    0.58 
Diluted (Note 5)   4.37    3.88    0.57 
                
Weighted average number of common shares outstanding:               
Basic   57,847,308    59,494,235    59,494,235 
Diluted   58,188,986    60,175,896    60,175,896 

 

 

Notes:

(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.7793 to US$1.00 on June 30, 2017 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

(2) Includes share-based compensation expense of RMB7,138 and RMB6,716 (US$991) for the six months ended June 30, 2016 and 2017, respectively.

(3) Includes share-based compensation expense of RMB6,137 and RMB5,773 (US$852) for the six months ended June 30, 2016 and 2017, respectively.

(4) Includes share-based compensation expense of RMB31,280 and RMB29,427 (US$4,340) for the six months ended June 30, 2016 and 2017, respectively.

(5) Diluted earnings per share is calculated in accordance with the "if converted" method. The potential conversion of the convertible senior notes was excluded in the computation of diluted earnings per share for the six months ended June 30, 2016 and 2017 because the effect would be anti-dilutive.

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

Page 8

 

51job, Inc.

Reconciliation of GAAP and Non-GAAP Results

                    

   For the Three Months Ended 
   June 30, 2016   June 30, 2017   June 30, 2017 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
GAAP income before income tax expense   208,531    111,287    16,415 
Add back: Share-based compensation   23,103    19,886    2,933 
Add back: Loss from foreign currency translation   6,577    1,822    269 
Add back: Change in fair value of convertible senior notes   (8,596)   114,829    16,938 
Non-GAAP income before income tax expense   229,615    247,824    36,555 
                
GAAP income tax expense   (40,332)   (40,529)   (5,978)
Tax effect of non-GAAP line items   22    (57)   (8)
Non-GAAP income tax expense   (40,310)   (40,586)   (5,986)
                
Non-GAAP adjusted net income   189,305    207,238    30,569 
                
Non-GAAP adjusted net income attributable to 51job, Inc.   189,795    207,074    30,545 
                
Non-GAAP adjusted earnings per share:               
Basic   3.27    3.45    0.51 
Diluted (Note 2)   3.19    3.34    0.49 
                
Weighted average number of common shares outstanding:               
Basic   58,065,551    60,031,311    60,031,311 
Diluted   62,293,104    64,866,926    64,866,926 

 

   For the Six Months Ended 
   June 30, 2016   June 30, 2017   June 30, 2017 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
GAAP income before income tax expense   319,897    315,392    46,522 
Add back: Share-based compensation   44,555    41,916    6,183 
Add back: Loss from foreign currency translation   1,308    1,862    275 
Add back: Change in fair value of convertible senior notes   31,012    139,910    20,638 
Non-GAAP income before income tax expense   396,772    499,080    73,618 
                
GAAP income tax expense   (65,889)   (81,606)   (12,038)
Tax effect of non-GAAP line items   11    (56)   (8)
Non-GAAP income tax expense   (65,878)   (81,662)   (12,046)
                
Non-GAAP adjusted net income   330,894    417,418    61,572 
                
Non-GAAP adjusted net income attributable to 51job, Inc.   331,432    417,146    61,532 
                
Non-GAAP adjusted earnings per share:               
Basic   5.73    7.01    1.03 
Diluted (Note 3)   5.62    6.80    1.00 
                
Weighted average number of common shares outstanding:               
Basic   57,847,308    59,494,235    59,494,235 
Diluted   62,224,658    64,211,568    64,211,568 

 

 

Notes:

(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.7793 to US$1.00 on June 30, 2017 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

(2) Diluted earnings per share is calculated in accordance with the "if converted" method. This includes the add-back of interest expense of RMB9,189 and RMB9,592 (US$1,415) related to the convertible senior notes to the numerator of non-GAAP adjusted net income attributable to 51job for the three months ended June 30, 2016 and 2017, respectively. The maximum number of 4,035,672 potentially converted shares related to the convertible senior notes

was added to the denominator of diluted common shares for the three months ended June 30, 2016 and 2017.

(3) Diluted earnings per share is calculated in accordance with the "if converted" method. This includes the add-back of interest expense of RMB18,326 and RMB19,231 (US$2,837) related to the convertible senior notes to the numerator of non-GAAP adjusted net income attributable to 51job for the six months ended June 30, 2016 and 2017, respectively. The maximum number of 4,035,672 potentially converted shares related to the convertible senior notes was added to the denominator of diluted common shares for the six months ended June 30, 2016 and 2017.

 

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51job, Inc. Reports Second Quarter 2017 Financial Results

August 3, 2017

Page 9

 

51job, Inc.

Consolidated Balance Sheets

             

   As of 
   December 31,
2016
  

June 30,

2017

  

June 30,

2017

 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
ASSETS               
                
Current assets:               
Cash   1,921,074    1,780,512    262,639 
Restricted cash   389    8,512    1,256 
Short-term investments   4,159,318    5,223,154    770,456 
Accounts receivable (net of allowance of RMB6,144               
  and RMB4,128 as of December 31, 2016 and               
  June 30, 2017 respectively)   111,246    104,378    15,397 
Prepayments and other current assets   527,558    474,084    69,931 
                
Total current assets   6,719,585    7,590,640    1,119,679 
                
Non-current assets:               
Long-term investments   189,017    285,984    42,185 
Property and equipment, net   526,541    511,845    75,501 
Goodwill   217,394    217,394    32,067 
Intangible assets, net   73,620    69,715    10,284 
Other long-term assets   8,988    8,155    1,203 
Deferred tax assets, non-current   765    693    102 
                
Total non-current assets   1,016,325    1,093,786    161,342 
                
Total assets   7,735,910    8,684,426    1,281,021 
                
LIABILITIES AND EQUITY               
                
Current liabilities:               
Accounts payable   32,516    35,135    5,183 
Salary and employee related accrual   103,559    85,192    12,566 
Taxes payable   155,786    140,881    20,781 
Advance from customers   655,416    825,065    121,704 
Convertible senior notes, current   1,257,709         
Other payables and accruals   498,036    573,682    84,623 
                
Total current liabilities   2,703,022    1,659,955    244,857 
                
Non-current liabilities:               
Deferred tax liabilities, non-current   57,166    71,558    10,555 
Convertible senior notes, non-current       1,366,600    201,584 
                
Total non-current liabilities   57,166    1,438,158    212,139 
                
Total liabilities   2,760,188    3,098,113    456,996 
                
Shareholders' equity:               
Common shares (US$0.0001 par value: 500,000,000               
  shares authorized, 60,062,385 and 61,410,810               
  shares issued and outstanding as of December 31,               
  2016 and June 30, 2017, respectively)   49    50    7 
Additional paid-in capital   1,299,350    1,676,615    247,314 
Statutory reserves   13,360    13,360    1,971 
Accumulated other comprehensive income   32,282    31,821    4,694 
Retained earnings   3,622,402    3,855,916    568,778 
                
Total 51job, Inc. shareholders' equity   4,967,443    5,577,762    822,764 
                
Non-controlling interests   8,279    8,551    1,261 
                
Total equity   4,975,722    5,586,313    824,025 
                
Total liabilities and equity   7,735,910    8,684,426    1,281,021 

 

 

Note (1):  The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.7793 to US$1.00 on June 30, 2017 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

 

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