UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2020

 

Commission File Number: 000-50841

 

51job, Inc.

(Translation of registrant’s name into English)

 

Building 3

No. 1387 Zhang Dong Road

Shanghai 201203

People’s Republic of China

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

 

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  51JOB, INC.
       
       
  By:   /s/ Rick Yan
    Name: Rick Yan
    Title: President and Chief Executive Officer

  

Date: August 11, 2020

 

 

 

 

EXHIBIT INDEX

 

Exhibit Description
   
99.1 Press release regarding second quarter 2020 unaudited financial results dated August 10, 2020

 

 

 

 

Exhibit 99.1

 

 

51job, Inc. Reports Second Quarter 2020 Financial Results

 

SHANGHAI, August 10, 2020 – 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 of 2020 ended June 30, 2020.

 

Second Quarter 2020 Financial Highlights:

 

·Net revenues decreased 14.0% from Q2 2019 to RMB828.6 million (US$117.3 million)

 

·Online recruitment services revenues decreased 17.6%

 

·Other human resource related revenues decreased 7.7%

 

·Income from operations was RMB165.5 million (US$23.4 million)

 

·Fully diluted earnings per share was RMB5.55 (US$0.79)

 

·Excluding share-based compensation expense, loss from foreign currency translation and change in fair value of equity securities investment, as well as the related tax effect of these items, non-GAAP adjusted fully diluted earnings per share was RMB5.28 (US$0.75)

 

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, “Our second quarter results reflected a sequential rebound in our other HR services segment and sound profitability that balanced cost management and strategic investments. While economic recovery is underway in China and we have seen steady improvement in labor market activity since March, hiring tends to be a lagging indicator, and companies remain careful and selective in adding headcount amid lingering uncertainty from the COVD-19 pandemic and geopolitical tensions. As we rebuild our revenue pipeline and work with employers and job seekers to adjust to a new normal, we remain committed to providing our users with the high quality service, innovative technology and dedicated support they need to overcome current challenges. With our strong financial and competitive position, we will continue to prioritize new product development, strategic investments and operational improvement that we expect to drive our future growth and success.”

 

Second Quarter 2020 Unaudited Financial Results

 

Net revenues for the second quarter ended June 30, 2020 were RMB828.6 million (US$117.3 million), a decrease of 14.0% from RMB963.6 million for the same quarter in 2019.

 

Online recruitment services revenues for the second quarter of 2020 were RMB503.3 million (US$71.2 million), representing a 17.6% decrease from RMB611.0 million for the same quarter of the prior year. The decline was due to the significant impact of the COVID-19 pandemic and global economic uncertainty on the business operations of companies in China, which has reduced their recruitment demand and curtailed their spending on the Company’s online recruitment platforms compared to the same quarter in 2019.

 

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51job, Inc. Reports Second Quarter 2020 Financial Results

August 10, 2020

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Other human resource related revenues for the second quarter of 2020 decreased 7.7% to RMB325.4 million (US$46.1 million) from RMB352.6 million for the same quarter in 2019. The decrease was primarily due to fewer in-person training events conducted in the second quarter of 2020 as a result of the pandemic’s impact on physical interaction and limitations on social gatherings and travel instituted by local authorities from time to time.

 

Gross profit for the second quarter of 2020 was RMB557.5 million (US$78.9 million) compared with RMB675.9 million for the same quarter of the prior year. Gross margin, which is gross profit as a percentage of net revenues, was 67.3% in the second quarter of 2020 compared with 70.1% for the same quarter in 2019. The decrease in gross margin was primarily due to a lower level of revenues in the second quarter of 2020, which was partially offset by a reduction in contributions to social welfare funds as well as less direct costs related to training events.

 

Operating expenses for the second quarter of 2020 decreased 3.4% to RMB391.9 million (US$55.5 million) from RMB405.6 million for the same quarter in 2019. Sales and marketing expenses for the second quarter of 2020 decreased 6.7% to RMB292.7 million (US$41.4 million) from RMB313.7 million for the same quarter of the prior year primarily due to a decrease in performance-based bonuses and a reduction in contributions to social welfare funds, which was partially offset by greater spending on advertising and promotion activities. General and administrative expenses for the second quarter of 2020 increased 7.9% to RMB99.2 million (US$14.0 million) from RMB92.0 million for the same quarter of the prior year primarily due to higher share-based compensation expense and a larger provision for doubtful accounts, which was partially offset by a decrease in salaries and performance-based bonuses as well as a reduction in contributions to social welfare funds.

 

Income from operations for the second quarter of 2020 was RMB165.5 million (US$23.4 million) compared with RMB270.2 million for the second quarter of 2019. Operating margin, which is income from operations as a percentage of net revenues, was 20.0% in the second quarter of 2020 compared with 28.0% for the same quarter in 2019. Excluding share-based compensation expense, operating margin would have been 24.6% in the second quarter of 2020 compared with 30.9% for the same quarter in 2019.

 

The Company recognized a loss from foreign currency translation of RMB0.5 million (US$0.1 million) in the second quarter of 2020 compared with a gain of RMB28.6 million in the second quarter of 2019 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.

 

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51job, Inc. Reports Second Quarter 2020 Financial Results

August 10, 2020

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In the second quarter of 2020, the Company recognized a mark-to-market, non-cash gain of RMB56.8 million (US$8.0 million) associated with a change in fair value of equity securities investment in Huali University Group Limited, which is traded on the Hong Kong Stock Exchange.

 

Other income in the second quarter of 2020 included local government financial subsidies of RMB144.9 million (US$20.5 million) compared with RMB123.1 million in the second quarter of 2019.

 

Net income attributable to 51job for the second quarter of 2020 was RMB376.7 million (US$53.3 million) compared with RMB67.4 million for the same quarter in 2019. Fully diluted earnings per share for the second quarter of 2020 was RMB5.55 (US$0.79) compared with RMB1.00 for the same quarter in 2019.

 

In the second quarter of 2020, total share-based compensation expense was RMB38.1 million (US$5.4 million) compared with RMB28.0 million in the second quarter of 2019.

 

Excluding share-based compensation expense, gain/loss from foreign currency translation, and changes in fair value of equity securities investment and 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 2020 was RMB358.5 million (US$50.7 million) compared with RMB400.1 million for the second quarter of 2019. Non-GAAP adjusted fully diluted earnings per share was RMB5.28 (US$0.75) in the second quarter of 2020 compared with RMB5.90 in the second quarter of 2019.

 

As of June 30, 2020, cash and short-term investments totaled RMB10,729.4 million (US$1,518.7 million) compared with RMB9,940.6 million as of December 31, 2019.

 

Business Outlook

 

Based on current market and operating conditions, the Company’s net revenues target for the third quarter of 2020 is in the estimated range of RMB820 million to RMB870 million (US$116.1 million to US$123.1 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation and any change in fair value of equity securities investment, as well as the related tax effect of these items, the Company’s non-GAAP fully diluted earnings target for the third quarter of 2020 is in the estimated range of RMB2.70 to RMB3.20 (US$0.38 to US$0.45) per share. The Company expects total share-based compensation expense in the third quarter of 2020 to be in the estimated range of RMB37 million to RMB39 million (US$5.2 million to US$5.5 million). The above forecast reflects 51job’s current and preliminary view, which is subject to change and substantial uncertainty.

 

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 equity securities investment. 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.

 

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51job, Inc. Reports Second Quarter 2020 Financial Results

August 10, 2020

Page 4

 

Currency Convenience Translation

 

For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollar amounts at the rate of RMB7.0651 to US$1.00, the noon buying rate on June 30, 2020 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 10, 2020 (9:00 a.m. Beijing / Hong Kong time zone on August 11, 2020) to discuss its second quarter 2020 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: +852-3018-4992

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, gain/loss from foreign currency translation, and changes in fair value of equity securities investment and 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 gain/loss from foreign currency translation, and changes in fair value of equity securities investment and 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, mark-to-market gain or 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, gain/loss from foreign currency translation, and changes in fair value of equity securities investment and 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 2020 Financial Results

August 10, 2020

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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, http://www.51jingying.com, http://www.lagou.com, and http://www.51mdd.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, campus recruitment, executive search and compensation analysis. 51job has a call center in Wuhan and a nationwide network of sales and service locations spanning more than 30 cities across China.

 

Contact

 

Investor Relations, 51job, Inc.

Tel: +86-21-6879-6250

Email: ir@51job.com

 

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; growth and trends of the human resource services industry in China; market acceptance of 51job’s products and services; competition in the industry; 51job’s ability to control costs and expenses; 51job’s ability to retain key personnel and attract new talent; relevant government policies and regulations relating to 51job’s industry, corporate structure and business operations; seasonality in the business; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; 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; and fluctuations in general economic and business conditions in China and globally, including the impact of the coronavirus or other pandemic. 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 2020 Financial Results

August 10, 2020

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51job, Inc.

Consolidated Statements of Operations and Comprehensive Income

 

   For the Three Months Ended 
   June 30, 2019   June 30, 2020   June 30, 2020 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
Revenues:               
Online recruitment services   611,025    503,254    71,231 
Other human resource related revenues   352,567    325,374    46,054 
                
Net revenues   963,592    828,628    117,285 
Cost of services (Note 2)   (287,733)   (271,176)   (38,382)
                
Gross profit   675,859    557,452    78,903 
                
Operating expenses:               
Sales and marketing (Note 3)   (313,687)   (292,732)   (41,434)
General and administrative (Note 4)   (91,956)   (99,192)   (14,040)
                
Total operating expenses   (405,643)   (391,924)   (55,474)
                
Income from operations   270,216    165,528    23,429 
                
Gain (Loss) from foreign currency translation   28,571    (547)   (77)
Interest and investment income, net   45,424    66,419    9,401 
Change in fair value of equity securities investment   —    56,806    8,040 
Change in fair value of convertible senior notes   (333,287)   —    — 
Other income, net   123,059    144,590    20,465 
                
Income before income tax expense   133,983    432,796    61,258 
Income tax expense   (67,420)   (59,621)   (8,439)
                
Net income   66,563    373,175    52,819 
Net loss attributable to non-controlling interests   861    3,485    493 
                
Net income attributable to 51job, Inc.   67,424    376,660    53,312 
                
Net income   66,563    373,175    52,819 
Other comprehensive income (loss)   378    (5)   (1)
                
Total comprehensive income   66,941    373,170    52,818 
                
Earnings per share:               
Basic   1.03    5.62    0.80 
Diluted (Note 5)   1.00    5.55    0.79 
                
Weighted average number of common shares outstanding:               
Basic   65,618,355    67,009,015    67,009,015 
Diluted   67,754,553    67,878,333    67,878,333 

 

 

Notes:

(1)The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB7.0651 to US$1.00 on June 30, 2020 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 RMB4,459 and RMB6,079 (US$860) for the three months ended June 30, 2019 and 2020, respectively.
(3)Includes share-based compensation expense of RMB3,833 and RMB5,225 (US$740) for the three months ended June 30, 2019 and 2020, respectively.
(4)Includes share-based compensation expense of RMB19,684 and RMB26,826 (US$3,797) for the three months ended June 30, 2019 and 2020, respectively.
(5)On April 15, 2019, the convertible senior notes matured, and the note holders requested the conversion of the senior notes into 4,035,664 shares.

 

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51job, Inc. Reports Second Quarter 2020 Financial Results

August 10, 2020

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51job, Inc.

Consolidated Statements of Operations and Comprehensive Income

 

   For the Six Months Ended 
   June 30, 2019   June 30, 2020   June 30, 2020 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
Revenues:               
Online recruitment services   1,224,401    1,050,271    148,656 
Other human resource related revenues   651,052    569,468    80,603 
                
Net revenues   1,875,453    1,619,739    229,259 
Cost of services (Note 2)   (537,097)   (525,479)   (74,377)
                
Gross profit   1,338,356    1,094,260    154,882 
                
Operating expenses:               
Sales and marketing (Note 3)   (602,415)   (568,924)   (80,526)
General and administrative (Note 4)   (182,199)   (189,834)   (26,869)
                
Total operating expenses   (784,614)   (758,758)   (107,395)
                
Income from operations   553,742    335,502    47,487 
                
Gain from foreign currency translation   42,351    9,624    1,362 
Interest and investment income, net   77,980    110,734    15,673 
Change in fair value of equity securities investment   —    66,697    9,440 
Change in fair value of convertible senior notes   (752,073)   —    — 
Other income, net   185,387    148,925    21,079 
                
Income before income tax expense   107,387    671,482    95,041 
Income tax expense   (127,476)   (96,392)   (13,643)
                
Net income (loss)   (20,089)   575,090    81,398 
Net loss attributable to non-controlling interests   2,697    6,816    965 
                
Net income (loss) attributable to 51job, Inc.   (17,392)   581,906    82,363 
                
Net income (loss)   (20,089)   575,090    81,398 
Other comprehensive income   60    303    43 
                
Total comprehensive income (loss)   (20,029)   575,393    81,441 
                
Earnings (Loss) per share:               
Basic   (0.27)   8.70    1.23 
Diluted (Note 5)   (0.27)   8.56    1.21 
                
Weighted average number of common shares outstanding:               
Basic   63,642,818    66,906,106    66,906,106 
Diluted   63,642,818    67,942,579    67,942,579 

 

 

Notes:

(1)The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB7.0651 to US$1.00 on June 30, 2020 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 RMB9,120 and RMB11,996 (US$1,698) for the six months ended June 30, 2019 and 2020, respectively.
(3)Includes share-based compensation expense of RMB7,840 and RMB10,312 (U$1,460) for the six months ended June 30, 2019 and 2020, respectively.
(4)Includes share-based compensation expense of RMB40,302 and RMB52,946 (US$7,494) for the six months ended June 30, 2019 and 2020, respectively.
(5)On April 15, 2019, the convertible senior notes matured, and the note holders requested the conversion of the senior notes into 4,035,664 shares. The impact of share options was excluded in the computation of diluted loss per share for the six months ended June 30, 2019 because the effect would be anti-dilutive.

 

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51job, Inc. Reports Second Quarter 2020 Financial Results

August 10, 2020

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51job, Inc.

Reconciliation of GAAP and Non-GAAP Results

 

   For the Three Months Ended 
   June 30, 2019   June 30, 2020   June 30, 2020 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
GAAP income before income tax expense   133,983    432,796    61,258 
Add: Share-based compensation   27,976    38,130    5,397 
Add (Less): (Gain) Loss from foreign currency translation   (28,571)   547    77 
Less: Change in fair value of equity securities investment   —    (56,806)   (8,040)
Add: Change in fair value of convertible senior notes   333,287    —    — 
Non-GAAP income before income tax expense   466,675    414,667    58,692 
                
GAAP income tax expense   (67,420)   (59,621)   (8,439)
Tax effect of non-GAAP line items   (64)   (8)   (1)
Non-GAAP income tax expense   (67,484)   (59,629)   (8,440)
                
Non-GAAP adjusted net income   399,191    355,038    50,252 
                
Non-GAAP adjusted net income attributable to 51job, Inc.   400,052    358,523    50,745 
                
Non-GAAP adjusted earnings per share:               
Basic   6.10    5.35    0.76 
Diluted (Note 2)   5.90    5.28    0.75 
                
Weighted average number of common shares outstanding:               
Basic   65,618,355    67,009,015    67,009,015 
Diluted   67,754,553    67,878,333    67,878,333 

 

   For the Six Months Ended 
   June 30, 2019   June 30, 2020   June 30, 2020 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
GAAP income before income tax expense   107,387    671,482    95,041 
Add: Share-based compensation   57,262    75,254    10,652 
Less: Gain from foreign currency translation   (42,351)   (9,624)   (1,362)
Less: Change in fair value of equity securities investment   —    (66,697)   (9,440)
Add: Change in fair value of convertible senior notes   752,073    —    — 
Non-GAAP income before income tax expense   874,371    670,415    94,891 
                
GAAP income tax expense   (127,476)   (96,392)   (13,643)
Tax effect of non-GAAP line items   (56)   (39)   (6)
Non-GAAP income tax expense   (127,532)   (96,431)   (13,649)
                
Non-GAAP adjusted net income   746,839    573,984    81,242 
                
Non-GAAP adjusted net income attributable to 51job, Inc.   749,536    580,800    82,207 
                
Non-GAAP adjusted earnings per share:               
Basic   11.78    8.68    1.23 
Diluted (Note 2)   11.44    8.55    1.21 
                
Weighted average number of common shares outstanding:               
Basic   63,642,818    66,906,106    66,906,106 
Diluted   65,542,618    67,942,579    67,942,579 

 

 

Notes:

(1)The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB7.0651 to US$1.00 on June 30, 2020 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.
(2)On April 15, 2019, the convertible senior notes matured, and the note holders requested the conversion of the senior notes into 4,035,664 shares.

 

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51job, Inc. Reports Second Quarter 2020 Financial Results

August 10, 2020

Page 9

 

51job, Inc.

Consolidated Balance Sheets

 

   As of
   December 31, 2019   June 30,
2020		   June 30,
2020		 
(In thousands, except share and per share data)  (unaudited)   (unaudited)   (unaudited) 
   RMB   RMB   US$ (Note 1) 
             
ASSETS               
                
Current assets:               
Cash   2,294,904    1,953,885    276,554 
Restricted cash   66,169    —    — 
Short-term investments   7,645,686    8,775,551    1,242,099 
Accounts receivable (net of allowance of RMB21,952 and               
  RMB18,915 as of December 31, 2019 and June 30, 2020,               
  respectively)   266,437    207,615    29,386 
Prepayments and other current assets   669,208    408,797    57,861 
                
Total current assets   10,942,404    11,345,848    1,605,900 
                
Non-current assets:               
Long-term investments   1,482,544    1,551,453    219,594 
Property and equipment, net   271,932    273,514    38,713 
Goodwill   1,036,124    1,036,124    146,654 
Intangible assets, net   203,162    182,887    25,886 
Right-of-use assets   320,809    319,401    45,208 
Other long-term assets   10,420    15,219    2,154 
Deferred tax assets   22,147    28,052    3,971 
                
Total non-current assets   3,347,138    3,406,650    482,180 
                
Total assets   14,289,542    14,752,498    2,088,080 
                
LIABILITIES, MEZZANINE EQUITY AND EQUITY               
                
Current liabilities:               
Accounts payable   48,114    49,748    7,041 
Salary and employee related accrual   162,775    156,139    22,100 
Taxes payable   267,596    153,164    21,679 
Advance from customers   1,108,518    999,801    141,513 
Lease liabilities, current   34,817    38,852    5,499 
Other payables and accruals   1,211,642    1,163,578    164,694 
                
Total current liabilities   2,833,462    2,561,282    362,526 
                
Non-current liabilities:               
Lease liabilities, non-current   50,763    49,801    7,049 
Deferred tax liabilities   214,307    214,356    30,340 
                
Total non-current liabilities   265,070    264,157    37,389 
                
Total liabilities   3,098,532    2,825,439    399,915 
                
Mezzanine equity:               
Redeemable non-controlling interests   216,974    209,550    29,658 
                
Shareholders' equity:               
Common shares (US$0.0001 par value: 500,000,000 shares               
  authorized, 66,784,688 and 67,159,498 shares issued and               
  outstanding as of December 31, 2019 and June 30, 2020,               
  respectively)   53    54    8 
Additional paid-in capital   4,901,466    5,063,342    716,670 
Statutory reserves   17,930    17,930    2,538 
Accumulated other comprehensive income   254,524    254,827    36,068 
Retained earnings   5,774,358    6,356,264    899,671 
                
Total 51job, Inc. shareholders' equity   10,948,331    11,692,417    1,654,955 
                
Non-controlling interests   25,705    25,092    3,552 
                
Total equity   10,974,036    11,717,509    1,658,507 
                
Total liabilities, mezzanine equity and equity   14,289,542    14,752,498    2,088,080 

 

 

Note (1): The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB7.0651 to US$1.00 on June 30, 2020 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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