51job, Inc. Reports Third Quarter 2017 Financial Results
SHANGHAI, Nov. 9, 2017 /PRNewswire/ -- 51job, 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 third quarter of 2017 ended September 30, 2017.
Third Quarter 2017 Financial Highlights:
-- Total revenues increased 22.4% over Q3 2016 to RMB728.2 million
(US$109.5 million), exceeding the Company's guidance range
-- Online recruitment services revenues increased 22.5% over Q3 2016 to
RMB488.2 million (US$73.4 million)
-- Other human resource related revenues increased 22.1% over Q3 2016 to
RMB240.0 million (US$36.1 million)
-- Gross margin of 72.8% compared with 71.5% in Q3 2016
-- Income from operations increased 36.9% over Q3 2016 to RMB200.9 million
(US$30.2 million)
-- Due to the significant impact of the change in fair value of convertible
senior notes, basic and fully diluted loss per share was RMB(2.76)
(US$(0.41))
-- 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 RMB3.32 (US$0.50), exceeding the
Company's guidance range
Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "Through clear and consistent execution of our strategic plan, we achieved solid revenue growth and margin improvement in the third quarter. The online business outperformed our expectations, with meaningful contribution from both new customer additions as well as higher average spend per customer due to our successful up-selling efforts. The other HR services area is also regaining growth momentum as we better integrate and promote our product offerings into complete, end-to-end HR solutions for employers. We are excited that our business initiatives and investments are demonstrating strong and measurable progress across the board. We believe that 51job is better positioned than ever to efficiently and effectively capture the large HR market opportunity before us in China."
Third Quarter 2017 Unaudited Financial Results
Total revenues for the third quarter ended September 30, 2017 were RMB728.2 million (US$109.5 million), an increase of 22.4% from RMB595.0 million for the same quarter in 2016.
Online recruitment services revenues for the third quarter of 2017 were RMB488.2 million (US$73.4 million), representing a 22.5% increase from RMB398.5 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 13.9% to 380,866 in the third quarter of 2017 compared with 334,401 in the same quarter of the prior year due to new customer acquisition. Average revenue per unique employer increased 7.6% in the third quarter of 2017 as compared with the same quarter in 2016, driven by successful up-selling efforts that resulted in the purchase of multiple and/or higher value online products and services by customers.
Other human resource related revenues for the third quarter of 2017 increased 22.1% to RMB240.0 million (US$36.1 million) from RMB196.6 million in the same quarter of 2016. The increase was primarily due to greater customer adoption and usage of training, assessment, placement and business process outsourcing services.
Gross profit for the third quarter of 2017 increased 24.4% to RMB524.2 million (US$78.8 million) from RMB421.5 million for the same quarter of the prior year. Gross margin, which is gross profit as a percentage of net revenues, increased to 72.8% in the third quarter of 2017 compared with 71.5% in the same quarter in 2016 primarily due to economies of scale and operating efficiency.
Operating expenses for the third quarter of 2017 increased 17.7% to RMB323.3 million (US$48.6 million) from RMB274.6 million for the same quarter of 2016. Sales and marketing expenses for the third quarter of 2017 increased 19.8% to RMB245.0 million (US$36.8 million) from RMB204.5 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 third quarter of 2017 increased 11.5% to RMB78.2 million (US$11.8 million) from RMB70.1 million for the same quarter of the prior year primarily due to higher employee compensation expenses and provision for doubtful accounts.
Income from operations for the third quarter of 2017 increased 36.9% to RMB200.9 million (US$30.2 million) from RMB146.8 million for the third quarter of 2016. Operating margin, which is income from operations as a percentage of net revenues, increased to 27.9% in the third quarter of 2017 compared with 24.9% in the same quarter of 2016. Excluding share-based compensation expense, operating margin would have been 31.1% in the third quarter of 2017 compared with 28.5% in the same quarter of 2016.
The Company recognized a loss from foreign currency translation of RMB2.2 million (US$0.3 million) in the third quarter of 2017 compared with RMB0.02 million in the third 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 third quarter of 2017, the Company recognized a mark-to-market, non-cash loss of RMB351.5 million (US$52.8 million) associated with a change in fair value of convertible senior notes compared with RMB42.5 million in the third quarter of 2016. The large non-cash loss was a result of the significant increase in the price of the Company's American Depositary Shares traded on the Nasdaq Global Select Market during the third quarter of 2017 and its corresponding effect on the fair value of the convertible senior notes.
Other income in the third quarter of 2017 included local government financial subsidies of RMB4.2 million (US$0.6 million) compared with RMB23.0 million in the third quarter of 2016.
Net loss attributable to 51job for the third quarter of 2017 was RMB(167.0) million (US$(25.1) million) compared with net income of RMB108.0 million for the same quarter in 2016. Fully diluted loss per share for the third quarter of 2017 was RMB(2.76) (US$(0.41)) compared with earnings per share of RMB1.84 for the same quarter in 2016.
In the third quarter of 2017, total share-based compensation expense was RMB22.9 million (US$3.4 million) compared with RMB21.4 million in the third 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 third quarter of 2017 increased 22.0% to RMB209.8 million (US$31.5 million) compared with RMB171.9 million for the third quarter of 2016. Non-GAAP adjusted fully diluted earnings per share were RMB3.32 (US$0.50) in the third quarter of 2017 compared with RMB2.89 in the third quarter of 2016.
As of September 30, 2017, cash and short-term investments totaled RMB7,448.7 million (US$1,119.5 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.
Recent Transaction
In September 2017, the Company announced that it had entered into an agreement to acquire a 60% equity interest in Lagou Information Limited, the holding company incorporated in the Cayman Islands of Beijing Lagou Network Technology Co., Ltd. ("Lagou"), for US$119 million. Founded in 2013, Lagou operates a recruitment website focused on addressing the growing demand for technology and engineering talent in China. The Company is currently in the process of completing the Lagou transaction, and while closing is expected before the end of 2017, the Company's business outlook and financial guidance for the fourth quarter of 2017 does not include any contribution from the transaction.
Business Outlook
Based on current market and operating conditions, the Company's total revenues target for the fourth quarter of 2017 is in the estimated range of RMB825 million to RMB845 million (US$124.0 million to US$127.0 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 fourth quarter of 2017 is in the estimated range of RMB3.90 to RMB4.10 (US$0.59 to US$0.62) per share. The Company expects total share-based compensation expense in the fourth quarter of 2017 to be in the estimated range of RMB23 million to RMB24 million (US$3.5 million to US$3.6 million).
Currency Convenience Translation
For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollars at the rate of RMB6.6533 to US$1.00, the noon buying rate on September 29, 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 8:00 p.m. Eastern Time on November 9, 2017 (9:00 a.m. Beijing / Hong Kong time zone on November 10, 2017) to discuss its third 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 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.
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.
Contact:
Linda Chien
Investor Relations
51job, Inc.
+86-21-6879-6250
ir@51job.com
51job, Inc.
Consolidated Statements of Operations and Comprehensive Income
For the Three Months Ended
--------------------------
September 30, September 30, September 30,
2016 2017 2017
(In thousands, except share and per share data)
(unaudited) (unaudited) (unaudited)
---------- ---------- ----------
RMB RMB US$ (Note 1)
Revenues:
Online recruitment services 398,475 488,224 73,381
Other human resource related revenues 196,558 240,005 36,073
------- ------- ------
Total revenues 595,033 728,229 109,454
Less: Government surcharges (5,746) (7,891) (1,186)
------ ------ ------
Net revenues 589,287 720,338 108,268
Cost of services (Note 2) (167,827) (196,155) (29,482)
-------- -------- -------
Gross profit 421,460 524,183 78,786
------- ------- ------
Operating expenses:
Sales and marketing (Note 3) (204,514) (245,033) (36,829)
General and administrative (Note 4) (70,124) (78,218) (11,756)
------- ------- -------
Total operating expenses (274,638) (323,251) (48,585)
-------- -------- -------
Income from operations 146,822 200,932 30,201
Loss from foreign currency translation (18) (2,183) (328)
Interest and investment income, net 12,749 21,230 3,191
Change in fair value of convertible senior notes (42,523) (351,500) (52,831)
Other income, net 25,011 6,043 908
------ ----- ---
Income (Loss) before income tax expense 142,041 (125,478) (18,859)
Income tax expense (34,175) (41,010) (6,164)
------- ------- ------
Net income (loss) 107,866 (166,488) (25,023)
Net loss (income) attributable to non-controlling interests 135 (494) (74)
--- ---- ---
Net income (loss) attributable to 51job, Inc. 108,001 (166,982) (25,097)
======= ======== =======
Net income (loss) 107,866 (166,488) (25,023)
Other comprehensive income (loss) 110 (316) (47)
--- ---- ---
Total comprehensive income (loss) 107,976 (166,804) (25,070)
======= ======== =======
Earnings (Loss) per share:
Basic 1.85 (2.76) (0.41)
Diluted (Note 5) 1.84 (2.76) (0.41)
Weighted average number of common shares outstanding:
Basic 58,236,116 60,566,713 60,566,713
Diluted 58,613,908 60,566,713 60,566,713
Notes:
(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.6533
to US$1.00 on September 29, 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 RMB3,424 and RMB3,674 (US$552) for the three months ended
September 30, 2016 and 2017, respectively.
(3) Includes share-based compensation expense of RMB2,942 and RMB3,159 (US$475) for the three months ended
September 30, 2016 and 2017, respectively.
(4) Includes share-based compensation expense of RMB15,002 and RMB16,103 (US$2,420) for the three months ended
September 30, 2016 and 2017, respectively.
(5) Diluted earnings (loss) per share is calculated in accordance with the "if converted" method. The potential
conversion of the convertible senior notes was excluded in the computation of diluted earnings (loss) per share for
the three months ended September 30, 2016 and 2017 because the effect would be anti-dilutive. The impact of
share options was also excluded in the computation of diluted loss per share for the three months ended
September 30, 2017 because the effect would be anti-dilutive.
51job, Inc.
Consolidated Statements of Operations and Comprehensive Income
For the Nine Months Ended
-------------------------
September 30, September 30, September 30,
2016 2017 2017
(unaudited) (unaudited) (unaudited)
---------- ---------- ----------
(In thousands, except share and per share data)
RMB RMB US$ (Note 1)
Revenues:
Online recruitment services 1,123,383 1,352,257 203,246
Other human resource related revenues 555,160 656,852 98,726
------- ------- ------
Total revenues 1,678,543 2,009,109 301,972
Less: Business tax and surcharges (27,207) (23,569) (3,542)
------- ------- ------
Net revenues 1,651,336 1,985,540 298,430
Cost of services (Note 2) (462,554) (533,364) (80,165)
-------- -------- -------
Gross profit 1,188,782 1,452,176 218,265
--------- --------- -------
Operating expenses:
Sales and marketing (Note 3) (580,226) (678,163) (101,929)
General and administrative (Note 4) (206,452) (220,515) (33,144)
-------- -------- -------
Total operating expenses (786,678) (898,678) (135,073)
-------- -------- --------
Income from operations 402,104 553,498 83,192
Loss from foreign currency translation (1,326) (4,045) (608)
Interest and investment income, net 45,308 56,104 8,433
Change in fair value of convertible senior notes (73,535) (491,410) (73,860)
Other income, net 89,387 75,767 11,388
------ ------ ------
Income before income tax expense 461,938 189,914 28,545
Income tax expense (100,064) (122,616) (18,429)
-------- -------- -------
Net income 361,874 67,298 10,116
Net loss (income) attributable to non-controlling interests 673 (766) (115)
--- ---- ----
Net income attributable to 51job, Inc. 362,547 66,532 10,001
======= ====== ======
Net income 361,874 67,298 10,116
Other comprehensive income (loss) 403 (777) (117)
--- ---- ----
Total comprehensive income 362,277 66,521 9,999
======= ====== =====
Earnings per share:
Basic 6.25 1.11 0.17
Diluted (Note 5) 6.22 1.09 0.16
Weighted average number of common shares outstanding:
Basic 57,977,857 59,855,656 59,855,656
Diluted 58,331,573 60,763,317 60,763,317
Notes:
(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.6533
to US$1.00 on September 29, 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 RMB10,562 and RMB10,390 (US$1,562) for the nine months ended
September 30, 2016 and 2017, respectively.
(3) Includes share-based compensation expense of RMB9,079 and RMB8,932 (US$1,342) for the nine months ended
September 30, 2016 and 2017, respectively.
(4) Includes share-based compensation expense of RMB46,282 and RMB45,530 (US$6,843) for the nine months ended
September 30, 2016 and 2017, respectively.
(5) Diluted earnings per share is calculated in accordance with the "if converted" method. The potential conversion
of the convertible senior notes was excluded in the computation of diluted earnings per share for the nine months
ended September 30, 2016 and 2017 because the effect would be anti-dilutive.
51job, Inc.
Reconciliation of GAAP and Non-GAAP Results
For the Three Months Ended
--------------------------
September 30, September 30, September 30,
2016 2017 2017
(unaudited) (unaudited) (unaudited)
---------- ---------- ----------
(In thousands, except share and per share data)
RMB RMB US$ (Note 1)
GAAP income (loss) before income tax expense 142,041 (125,478) (18,859)
Add back: Share-based compensation 21,368 22,936 3,447
Add back: Loss from foreign currency translation 18 2,183 328
Add back: Change in fair value of convertible senior notes 42,523 351,500 52,831
------ ------- ------
Non-GAAP income before income tax expense 205,950 251,141 37,747
GAAP income tax expense (34,175) (41,010) (6,164)
Tax effect of non-GAAP line items (3) 124 19
--- --- ---
Non-GAAP income tax expense (34,178) (40,886) (6,145)
------- ------- ------
Non-GAAP adjusted net income 171,772 210,255 31,602
------- ------- ------
Non-GAAP adjusted net income attributable to 51job, Inc. 171,907 209,761 31,528
======= ======= ======
Non-GAAP adjusted earnings per share:
Basic 2.95 3.46 0.52
Diluted (Note 2) 2.89 3.32 0.50
Weighted average number of common shares outstanding:
Basic 58,236,116 60,566,713 60,566,713
Diluted 62,649,580 65,962,406 65,962,406
For the Nine Months Ended
-------------------------
September 30, September 30, 2 September 30,
2016 017 2017
(unaudited) (unaudited) (unaudited)
---------- ---------- ----------
(In thousands, except share and per share data)
RMB RMB US$ (Note 1)
GAAP income before income tax expense 461,938 189,914 28,545
Add back: Share-based compensation 65,923 64,852 9,747
Add back: Loss from foreign currency translation 1,326 4,045 608
Add back: Change in fair value of convertible senior notes 73,535 491,410 73,860
------ ------- ------
Non-GAAP income before income tax expense 602,722 750,221 112,760
GAAP income tax expense (100,064) (122,616) (18,429)
Tax effect of non-GAAP line items 8 68 10
--- --- ---
Non-GAAP income tax expense (100,056) (122,548) (18,419)
-------- -------- -------
Non-GAAP adjusted net income 502,666 627,673 94,341
------- ------- ------
Non-GAAP adjusted net income attributable to 51job, Inc. 503,339 626,907 94,226
======= ======= ======
Non-GAAP adjusted earnings per share:
Basic 8.68 10.47 1.57
Diluted (Note 3) 8.51 10.12 1.52
Weighted average number of common shares outstanding:
Basic 57,977,857 59,855,656 59,855,656
Diluted 62,367,245 64,799,349 64,799,349
Notes:
(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.6533
to US$1.00 on September 29, 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 RMB9,353 and RMB9,328 (US$1,402) related to the convertible senior notes to the numerator
of non-GAAP adjusted net income attributable to 51job for the three months ended September 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 September 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 RMB27,679 and RMB28,559 (US$4,292) related to the convertible senior notes to the numerator
of non-GAAP adjusted net income attributable to 51job for the nine months ended September 30, 2016 and 2017,
respectively. The maximum number of 4,035,672 potentially converted shares related to the convertible senior notes
was added to the denominator of diluted common shares for the nine months ended September 30, 2016 and 2017.
51job, Inc.
Consolidated Balance Sheets
As of
-----
December 31, September30, September30,
2016 2017 2017
(unaudited) (unaudited) (unaudited)
---------- ---------- ----------
(In thousands, except share and per share data)
RMB RMB US$ (Note 1)
ASSETS
Current assets:
Cash 1,921,074 2,041,519 306,842
Restricted cash 389 9,244 1,389
Short-term investments 4,159,318 5,407,178 812,706
Accounts receivable (net of allowance of RMB6,144
and RMB4,770 as of December 31, 2016 and
September 30, 2017 respectively) 111,246 137,309 20,638
Prepayments and other current assets 527,558 542,022 81,467
-------
Total current assets 6,719,585 8,137,272 1,223,042
--------- --------- ---------
Non-current assets:
Long-term investments 189,017 286,284 43,029
Property and equipment, net 526,541 504,373 75,808
Goodwill 217,394 217,394 32,675
Intangible assets, net 73,620 68,311 10,267
Other long-term assets 8,988 7,197 1,082
Deferred tax assets, non-current 765 770 116
---
Total non-current assets 1,016,325 1,084,329 162,977
--------- --------- -------
Total assets 7,735,910 9,221,601 1,386,019
========= ========= =========
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable 32,516 38,075 5,723
Salary and employee related accrual 103,559 125,341 18,839
Taxes payable 155,786 148,656 22,343
Advance from customers 655,416 894,258 134,408
Convertible senior notes, current 1,257,709 - -
Other payables and accruals 498,036 739,339 111,124
-------
Total current liabilities 2,703,022 1,945,669 292,437
--------- --------- -------
Non-current liabilities:
Deferred tax liabilities, non-current 57,166 69,102 10,386
Convertible senior notes, non-current - 1,689,386 253,917
------------------------------------
Total non-current liabilities 57,166 1,758,488 264,303
------ --------- -------
Total liabilities 2,760,188 3,704,157 556,740
--------- --------- -------
Shareholders' equity:
Common shares (US$0.0001 par value: 500,000,000
shares authorized, 60,062,385 and 61,782,154
shares issued and outstanding as of December 31,
2016 and September 30, 2017, respectively) 49 50 8
Additional paid-in capital 1,299,350 1,774,550 266,717
Statutory reserves 13,360 13,360 2,008
Accumulated other comprehensive income 32,282 31,505 4,735
Retained earnings 3,622,402 3,688,934 554,452
---------
Total 51job, Inc. shareholders' equity 4,967,443 5,508,399 827,920
Non-controlling interests 8,279 9,045 1,359
----- ----- -----
Total equity 4,975,722 5,517,444 829,279
--------- --------- -------
Total liabilities and equity 7,735,910 9,221,601 1,386,019
========= ========= =========
Note (1): The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of
RMB6.6533 to US$1.00 on September 29, 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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SOURCE 51job, Inc.
