51job, Inc. Reports Second Quarter 2018 Financial Results
SHANGHAI, Aug. 2, 2018 /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 second quarter ended June 30, 2018.
Second Quarter 2018 Financial Highlights:
-- Total revenues increased 33.0% over Q2 2017 to RMB895.5 million
(US$135.3 million), exceeding the Company's guidance range
-- Online recruitment services revenues increased 32.5% over Q2 2017 to
RMB588.4 million (US$88.9 million)
-- Other human resource related revenues increased 34.0% over Q2 2017 to
RMB307.1 million (US$46.4 million)
-- Gross margin was 72.4% compared with 73.2% in Q2 2017
-- Income from operations increased 16.0% over Q2 2017 to RMB218.1 million
(US$33.0 million)
-- Due to the significant impact of the loss from foreign currency
translation and the change in fair value of convertible senior notes,
fully diluted loss per share was RMB(0.92) (US$(0.14))
-- 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 RMB5.43 (US$0.82), exceeding the
Company's guidance range
Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, "With clear focus and purpose, we continued to solidly execute our high-quality growth strategy. Our online business maintained an uptrend in revenue per employer as we successfully drove greater spending by existing, more sophisticated customers and worked through increased prices on certain entry-level online packages among new, smaller sized customers. We also saw positive customer demand for our other HR services which, combined with recruitment services, can provide employers with complete end-to-end talent management solutions. Demonstrating proven capabilities, dedicated coverage and industry expertise built over two decades, 51job is further cementing its leadership and remains uniquely positioned to capture all aspects of the HR opportunity in China."
Second Quarter 2018 Unaudited Financial Results
Total revenues for the second quarter ended June 30, 2018 were RMB895.5 million (US$135.3 million), an increase of 33.0% from RMB673.2 million for the same quarter in 2017.
Online recruitment services revenues for the second quarter of 2018 were RMB588.4 million (US$88.9 million), representing a 32.5% increase from RMB443.9 million for the same quarter of the prior year. This growth was driven mainly by higher average revenue per unique employer, which increased 33.5% in the second quarter of 2018 due to successful up-selling efforts that resulted in the purchase of multiple and/or higher value online products and services by customers, as well as price increases for select like-for-like products when compared with the same quarter in 2017. In line with the Company's strategy to focus attention on higher potential customers and moderate new employer additions, the estimated number of unique employers decreased slightly to 377,831 in the second quarter of 2018 compared with 380,717 in the same quarter of the prior year. The estimated number of unique employers in the second quarter of 2018 reflects those employers currently assigned a unique identification number in the Company's management information systems and does not include employers utilizing Lagou.com.
Other human resource related revenues for the second quarter of 2018 increased 34.0% to RMB307.1 million (US$46.4 million) from RMB229.2 million for the same quarter in 2017. This increase was primarily due to greater usage and growth of business process outsourcing, training, assessment and placement services.
Gross profit for the second quarter of 2018 increased 31.6% to RMB641.0 million (US$96.9 million) from RMB487.0 million for the same quarter of the prior year. Gross margin, which is gross profit as a percentage of net revenues, was 72.4% in the second quarter of 2018 compared with 73.2% for the same quarter in 2017.
Operating expenses for the second quarter of 2018 increased 41.5% to RMB422.9 million (US$63.9 million) from RMB298.9 million for the same quarter in 2017. Sales and marketing expenses for the second quarter of 2018 increased 46.4% to RMB334.2 million (US$50.5 million) from RMB228.2 million for the same quarter of the prior year primarily due to higher employee compensation expenses, headcount additions as well as greater advertising, branding and promotion expenses. General and administrative expenses for the second quarter of 2018 increased 25.5% to RMB88.7 million (US$13.4 million) from RMB70.6 million for the same quarter of the prior year primarily due to higher employee compensation, rent and office expenses.
Income from operations for the second quarter of 2018 increased 16.0% to RMB218.1 million (US$33.0 million) from RMB188.1 million for the second quarter of 2017. Operating margin, which is income from operations as a percentage of net revenues, was 24.6% in the second quarter of 2018 compared with 28.3% for the same quarter in 2017. Excluding share-based compensation expense, operating margin would have been 27.5% in the second quarter of 2018 compared with 31.3% for the same quarter in 2017.
The Company recognized a loss from foreign currency translation of RMB80.8 million (US$12.2 million) in the second quarter of 2018 compared with RMB1.8 million in the second quarter of 2017 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 2018, the Company recognized a mark-to-market, non-cash loss of RMB309.3 million (US$46.7 million) associated with a change in fair value of convertible senior notes compared with RMB114.8 million in the second quarter of 2017. 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 second quarter of 2018 and its corresponding effect on the fair value of the convertible senior notes.
Other income in the second quarter of 2018 included local government financial subsidies of RMB154.0 million (US$23.3 million) compared with RMB20.5 million in the second quarter of 2017.
Net loss attributable to 51job for the second quarter of 2018 was RMB(56.6) million (US$(8.6) million) compared with net income of RMB70.6 million for the same quarter in 2017. Fully diluted loss per share for the second quarter of 2018 was RMB(0.92) (US$(0.14)) compared with earnings per share of RMB1.16 for the same quarter in 2017.
In the second quarter of 2018, total share-based compensation expense was RMB25.1 million (US$3.8 million) compared with RMB19.9 million in the second quarter of 2017.
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 2018 increased 73.2% to RMB358.7 million (US$54.2 million) compared with RMB207.1 million for the second quarter of 2017. Non-GAAP adjusted fully diluted earnings per share were RMB5.43 (US$0.82) in the second quarter of 2018 compared with RMB3.34 in the second quarter of 2017.
As of June 30, 2018, cash and short-term investments totaled RMB7,935.8 million (US$1,199.3 million) compared with RMB7,132.0 million as of December 31, 2017.
Business Outlook
Based on current market and operating conditions, the Company's total revenues target for the third quarter of 2018 is in the estimated range of RMB905 million to RMB935 million (US$136.8 million to US$141.3 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 2018 is in the estimated range of RMB3.70 to RMB4.00 (US$0.56 to US$0.60) per share. The Company expects total share-based compensation expense in the third quarter of 2018 to be in the estimated range of RMB32 million to RMB33 million (US$4.8 million to US$5.0 million).
Management Change
In June 2018, Mr. David Weimin Jin, Senior Vice President of Sales, resigned from the Company for personal reasons, and his responsibilities were smoothly transitioned to other members of sales management. "We thank David for his many years of service and wish him all the best as he pursues other interests in the future," said Mr. Yan.
Currency Convenience Translation
For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollars at the rate of RMB6.6171 to US$1.00, the noon buying rate on June 29, 2018 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 2, 2018 (9:00 a.m. Beijing / Hong Kong time zone on August 3, 2018) to discuss its second quarter 2018 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: +852-800-905-945
China: +86-400-120-1203
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, http://www.51jingying.com, and http://www.lagou.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, placement, 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
--------------------------
June 30, 2017 June 30, 2018 June 30, 2018
(In thousands, except
share and per share
data) (unaudited) (unaudited) (unaudited)
---------- ---------- ----------
RMB RMB US$ (Note 1)
Revenues:
Online recruitment
services 443,945 588,379 88,918
Other human resource
related revenues 229,222 307,147 46,417
------- ------- ------
Total revenues 673,167 895,526 135,335
Less: Government
surcharges (7,620) (9,741) (1,472)
------ ------ ------
Net revenues 665,547 885,785 133,863
Cost of services (Note
2) (178,541) (244,771) (36,991)
-------- -------- -------
Gross profit 487,006 641,014 96,872
------- ------- ------
Operating expenses:
Sales and marketing
(Note 3) (228,247) (334,217) (50,508)
General and
administrative (Note
4) (70,638) (88,655) (13,398)
------- ------- -------
Total operating
expenses (298,885) (422,872) (63,906)
-------- -------- -------
Income from operations 188,121 218,142 32,966
Loss from foreign
currency translation (1,822) (80,775) (12,207)
Interest and
investment income,
net 19,451 26,420 3,993
Change in fair value
of convertible senior
notes (114,829) (309,313) (46,744)
Other income, net 20,366 153,869 23,253
------ ------- ------
Income before income
tax expense 111,287 8,343 1,261
Income tax expense (40,529) (65,662) (9,923)
------- ------- ------
Net income (loss) 70,758 (57,319) (8,662)
Net (income) loss
attributable to non-
controlling interests (164) 691 104
---- --- ---
Net income (loss)
attributable to
51job, Inc. 70,594 (56,628) (8,558)
====== ======= ======
Net income (loss) 70,758 (57,319) (8,662)
Other comprehensive
income (loss) (345) 856 129
---- --- ---
Total comprehensive
income (loss) 70,413 (56,463) (8,533)
====== ======= ======
Earnings (Loss) per
share:
Basic 1.18 (0.92) (0.14)
Diluted (Note 5) 1.16 (0.92) (0.14)
Weighted average
number of common
shares outstanding:
Basic 60,031,311 61,350,009 61,350,009
Diluted 60,831,254 61,350,009 61,350,009
Notes:
(1) The conversion of Renminbi amounts into U.S.
dollar amounts is based on the noon buying rate of
RMB6.6171
to US$1.00 on June 29, 2018 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
RMB3,186 and RMB3,384 (US$511) for the three months
ended
June 30, 2017 and 2018, respectively.
(3) Includes share-based compensation expense of
RMB2,739 and RMB2,909 (US$440) for the three months
ended
June 30, 2017 and 2018, respectively.
(4) Includes share-based compensation expense of
RMB13,961 and RMB18,798 (US$2,841) for the three
months ended
June 30, 2017 and 2018, respectively.
(5) Diluted earnings (loss) per share is calculated
in accordance with the "if converted" method. The
potential
conversion of the convertible senior notes was
excluded in the computation of diluted earnings
(loss) per share for the
three months ended June 30, 2017 and 2018 because the
effect would be anti-dilutive. The impact of share
options
was also excluded in the computation of diluted loss
per share for the three months ended June 30, 2018
because
the effect would be anti-dilutive.
51job, Inc.
Consolidated Statements of Operations and Comprehensive Income
For the Six Months Ended
------------------------
June 30, 2017 June 30, 2018 June 30, 2018
(In thousands, except
share and per share
data) (unaudited) (unaudited) (unaudited)
---------- ---------- ----------
RMB RMB US$ (Note 1)
Revenues:
Online recruitment
services 864,033 1,136,671 171,778
Other human resource
related revenues 416,847 570,128 86,160
------- ------- ------
Total revenues 1,280,880 1,706,799 257,938
Less: Government
surcharges (15,678) (19,651) (2,970)
------- ------- ------
Net revenues 1,265,202 1,687,148 254,968
Cost of services (Note
2) (337,209) (449,756) (67,969)
-------- -------- -------
Gross profit 927,993 1,237,392 186,999
------- --------- -------
Operating expenses:
Sales and marketing
(Note 3) (433,130) (609,030) (92,039)
General and
administrative (Note
4) (142,297) (174,185) (26,323)
-------- -------- -------
Total operating
expenses (575,427) (783,215) (118,362)
-------- -------- --------
Income from operations 352,566 454,177 68,637
Loss from foreign
currency translation (1,862) (44,488) (6,723)
Interest and
investment income,
net 34,874 49,434 7,471
Change in fair value
of convertible senior
notes (139,910) (898,415) (135,772)
Other income, net 69,724 154,184 23,301
------ ------- ------
Income (Loss) before
income tax expense 315,392 (285,108) (43,086)
Income tax expense (81,606) (109,837) (16,599)
------- -------- -------
Net income (loss) 233,786 (394,945) (59,685)
Net (income) loss
attributable to non-
controlling interests (272) 5,505 832
---- ----- ---
Net income (loss)
attributable to
51job, Inc. 233,514 (389,440) (58,853)
======= ======== =======
Net income (loss) 233,786 (394,945) (59,685)
Other comprehensive
income (loss) (461) 156 24
---- --- ---
Total comprehensive
income (loss) 233,325 (394,789) (59,661)
======= ======== =======
Earnings (Loss) per
share:
Basic 3.93 (6.37) (0.96)
Diluted (Note 5) 3.88 (6.37) (0.96)
Weighted average
number of common
shares outstanding:
Basic 59,494,235 61,143,380 61,143,380
Diluted 60,175,896 61,143,380 61,143,380
Notes:
(1) The conversion of Renminbi amounts into U.S.
dollar amounts is based on the noon buying rate of
RMB6.6171
to US$1.00 on June 29, 2018 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
RMB6,716 and RMB6,953 (US$1,051) for the six months
ended
June 30, 2017 and 2018, respectively.
(3) Includes share-based compensation expense of
RMB5,773 and RMB5,977 (US$903) for the six months
ended
June 30, 2017 and 2018, respectively.
(4) Includes share-based compensation expense of
RMB29,427 and RMB34,963 (US$5,284) for the six
months ended
June 30, 2017 and 2018, respectively.
(5) Diluted earnings (loss) per share is calculated
in accordance with the "if converted" method. The
potential
conversion of the convertible senior notes was
excluded in the computation of diluted earnings
(loss) per share for the
six months ended June 30, 2017 and 2018 because the
effect would be anti-dilutive. The impact of share
options
was also excluded in the computation of diluted loss
per share for the six months ended June 30, 2018
because
the effect would be anti-dilutive.
51job, Inc.
Reconciliation of GAAP and Non-GAAP Results
For the Three Months Ended
--------------------------
June 30, 2017 June 30, 2018 June 30, 2018
(In thousands,
except share and
per share data) (unaudited) (unaudited) (unaudited)
---------- ---------- ----------
RMB RMB US$ (Note 1)
GAAP income before
income tax expense 111,287 8,343 1,261
Add back: Share-
based compensation 19,886 25,091 3,792
Add back: Loss from
foreign currency
translation 1,822 80,775 12,207
Add back: Change in
fair value of
convertible senior
notes 114,829 309,313 46,744
------- ------- ------
Non-GAAP income
before income tax
expense 247,824 423,522 64,004
GAAP income tax
expense (40,529) (65,662) (9,923)
Tax effect of non-
GAAP line items (57) 132 20
--- --- ---
Non-GAAP income tax
expense (40,586) (65,530) (9,903)
------- ------- ------
Non-GAAP adjusted
net income 207,238 357,992 54,101
------- ------- ------
Non-GAAP adjusted
net income
attributable to
51job, Inc. 207,074 358,683 54,205
======= ======= ======
Non-GAAP adjusted
earnings per share:
Basic 3.45 5.85 0.88
Diluted (Note 2) 3.34 5.43 0.82
Weighted average
number of common
shares outstanding:
Basic 60,031,311 61,350,009 61,350,009
Diluted 64,866,926 67,708,774 67,708,774
For the Six Months Ended
------------------------
June 30, 2017 June 30, 2018 June 30, 2018
(In thousands,
except share and
per share data) (unaudited) (unaudited) (unaudited)
---------- ---------- ----------
RMB RMB US$ (Note 1)
GAAP income (loss)
before income tax
expense 315,392 (285,108) (43,086)
Add back: Share-
based compensation 41,916 47,893 7,238
Add back: Loss from
foreign currency
translation 1,862 44,488 6,723
Add back: Change in
fair value of
convertible senior
notes 139,910 898,415 135,772
------- ------- -------
Non-GAAP income
before income tax
expense 499,080 705,688 106,647
GAAP income tax
expense (81,606) (109,837) (16,599)
Tax effect of non-
GAAP line items (56) 51 8
--- --- ---
Non-GAAP income tax
expense (81,662) (109,786) (16,591)
------- -------- -------
Non-GAAP adjusted
net income 417,418 595,902 90,056
------- ------- ------
Non-GAAP adjusted
net income
attributable to
51job, Inc. 417,146 601,407 90,888
======= ======= ======
Non-GAAP adjusted
earnings per share:
Basic 7.01 9.84 1.49
Diluted (Note 3) 6.80 9.20 1.39
Weighted average
number of common
shares outstanding:
Basic 59,494,235 61,143,380 61,143,380
Diluted 64,211,568 67,332,502 67,332,502
Notes:
(1) The conversion of Renminbi amounts into U.S.
dollar amounts is based on the noon buying rate of
RMB6.6171
to US$1.00 on June 29, 2018 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 RMB9,592 and RMB9,050
(US$1,368) 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, 2017 and
2018,
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, 2017 and 2018.
(3) Diluted earnings per share is calculated in
accordance with the "if converted" method. This
includes the add-back
of interest expense of RMB19,231 and RMB17,903
(US$2,706) related to the convertible senior notes
to the numerator
of non-GAAP adjusted net income attributable to
51job for the six months ended June 30, 2017 and
2018,
respectively. The maximum number of 4,035,672
potentially converted shares related to the
convertible senior notes
was added to the denominator of diluted common shares
for the six months ended June 30, 2017 and 2018.
51job, Inc.
Consolidated Balance Sheets
As of
-----
December 31, June 30, June 30,
2018 2018
2017
(In thousands, except share
and per share data) (unaudited) (unaudited) (unaudited)
---------- ---------- ----------
RMB RMB US$ (Note 1)
ASSETS
Current assets:
Cash 2,292,476 1,880,018 284,115
Restricted cash 249 7,317 1,106
Short-term investments 4,839,550 6,055,788 915,173
Accounts receivable (net of allowance
of RMB5,384
and RMB8,744 as of December 31, 2017
and
June 30, 2018, respectively) 186,861 176,329 26,647
Prepayments and other current assets 559,105 550,777 83,237
-------
Total current assets 7,878,241 8,670,229 1,310,278
--------- --------- ---------
Non-current assets:
Long-term investments 433,886 465,621 70,366
Property and equipment, net 497,845 540,527 81,686
Goodwill 1,021,454 1,021,454 154,366
Intangible assets, net 162,024 236,874 35,797
Other long-term assets 17,370 14,033 2,121
Deferred tax assets 12,912 15,424 2,331
------
Total non-current assets 2,145,491 2,293,933 346,667
--------- --------- -------
Total assets 10,023,732 10,964,162 1,656,945
========== ========== =========
LIABILITIES, MEZZANINE EQUITY
AND EQUITY
Current liabilities:
Accounts payable 35,532 54,947 8,304
Salary and employee related accrual 134,966 140,043 21,164
Taxes payable 230,734 182,299 27,550
Advance from customers 937,981 1,180,497 178,401
Convertible senior notes, current - 2,623,002 396,398
Other payables and accruals 703,441 683,791 103,337
-------
Total current liabilities 2,042,654 4,864,579 735,154
--------- --------- -------
Non-current liabilities:
Deferred tax liabilities 121,348 144,588 21,851
Convertible senior notes, non-current 1,667,967 - -
------------
Total non-current liabilities 1,789,315 144,588 21,851
--------- ------- ------
Total liabilities 3,831,969 5,009,167 757,005
--------- --------- -------
Mezzanine equity:
Redeemable non-controlling interests 228,230 222,317 33,597
Shareholders' equity:
Common shares (US$0.0001 par value:
500,000,000
shares authorized, 61,853,004 and
61,730,368
shares issued and outstanding as of
December 31,
2017 and June 30, 2018, respectively) 50 50 8
Additional paid-in capital 1,809,732 1,963,244 296,693
Statutory reserves 13,874 13,874 2,097
Accumulated other comprehensive
income 136,947 137,103 20,719
Retained earnings 3,993,777 3,604,337 544,700
---------
Total 51job, Inc.
shareholders' equity 5,954,380 5,718,608 864,217
Non-controlling interests 9,153 14,070 2,126
----- ------ -----
Total equity 5,963,533 5,732,678 866,343
--------- --------- -------
Total liabilities, mezzanine
equity and equity 10,023,732 10,964,162 1,656,945
========== ========== =========
Note (1): The conversion of
Renminbi amounts into U.S.
dollar amounts is based on
the noon buying rate of
RMB6.6171 to US$1.00 on June
29, 2018 in New York for
cable transfers of Renminbi
as set forth in the H.10
weekly statistical release of
the Federal Reserve Board.
View original content:http://www.prnewswire.com/news-releases/51job-inc-reports-second-quarter-2018-financial-results-300690933.html
SOURCE 51job, Inc.
