JOBS - JOBS STOCK NEWS

On May 6, 2022, 51job (NASDAQ: JOBS) announced the completion of its merger with Garnet Faith Limited, resulting in the company's transition to a privately held entity. As part of the merger, shareholders will receive $61.00 per share in cash. The company has suspended trading of its American Depositary Shares (ADSs) and requested their delisting from NASDAQ. This move follows shareholder approval during an extraordinary general meeting on April 27, 2022, and signifies a shift in 51job's operational strategy.

On April 27, 2022, 51job (Nasdaq: JOBS) announced that shareholders overwhelmingly approved a merger with Garnet Faith Limited. Approximately 76% of shareholders voted, with 93% in favor of the merger plan, which will make 51job a privately held company. The merger's completion is contingent on fulfilling the conditions in the merger agreement. Post-merger, 51job's American Depositary Shares (ADSs) will be delisted from stock exchanges, including NASDAQ. This move is expected to streamline operations and enhance strategic focus.

51job, Inc. (NASDAQ: JOBS) reported its Q4 2021 financial results with net revenues increasing by 15.7% year-over-year to RMB1,345.2 million (US$211.1 million). For the full year, net revenues rose by 19.8% to RMB4,420.4 million (US$693.7 million). However, income from operations fell by 36.4% to RMB551.3 million (US$86.5 million) due to higher sales and marketing expenses. Fully diluted EPS for Q4 was RMB5.23 (US$0.82), a slight increase from last year. The company recognized losses from foreign currency translation totaling RMB10.9 million (US$1.7 million).

51job, Inc. (Nasdaq: JOBS), a prominent provider of human resource services in China, will release its unaudited financial results for Q4 and the fiscal year 2021 on March 31, 2022, following market close. This report follows a comprehensive assessment of their integrated HR solutions, from recruitment to employee retention. Established in 1998, the company operates various online recruitment platforms and offers value-added HR services across China, highlighting their commitment to meeting the needs of enterprises and job seekers.

51job, Inc. (NASDAQ: JOBS) has announced an extraordinary general meeting of shareholders, scheduled for April 27, 2022, in Shanghai. The meeting will focus on a proposal to approve a merger agreement which, if completed, will result in 51job becoming a privately held company. The company’s American depositary shares (ADSs) will no longer be traded on stock exchanges, including NASDAQ, and the ADS program will be terminated. Shareholders and ADS holders are encouraged to review proxy materials for crucial information related to the merger.

51job, Inc. (NASDAQ: JOBS) announced an amendment to its merger agreement with Garnet Faith Limited, valuing the company at approximately US$4.3 billion. The revised agreement includes a cash consideration of US$61.00 per share and ADS, a reduction from US$79.05. The merger's termination date has been extended to August 31, 2022, with reduced termination fees. Key stakeholders in the consortium include DCP Capital, Ocean Link, and CEO Rick Yan, with plans to fund through equity contributions and loans up to US$1.875 billion. Approval from shareholders is required for the merger's completion.

On January 12, 2022, 51job (Nasdaq: JOBS) announced receipt of a proposal from Garnet Faith Limited to revise the merger agreement. The proposal suggests reducing the merger consideration from US$79.05 to US$57.25 per share and adjusting ownership by DCP Capital Partners II and Ocean Link Partners to 9.99%. The special committee is evaluating this suggestion amidst challenging regulatory and market conditions in China, including a significant decline in the NASDAQ Golden Dragon China Index by approximately 40% in late 2021 and ongoing COVID-19 impacts.

51job, a premier human resource service provider in China, reported strong financial results for Q3 2021, with net revenues rising 19.3% year-over-year to RMB1,081.4 million (US$167.8 million). Online recruitment service revenues saw a 17.8% increase, driven by heightened hiring demand. Despite a gross profit increase of 16.6% to RMB681.5 million (US$105.8 million), the operating margin dropped to 12.0%. Fully diluted EPS was RMB0.68 (US$0.11), down from RMB2.55 in Q3 2020. The company continues to face challenges from COVID-19 and global economic uncertainties.

51job, Inc. (Nasdaq: JOBS) will report its unaudited financial results for the third quarter ended September 30, 2021, after the market closes on December 15, 2021. As a leading provider of integrated human resource services in China, 51job offers a comprehensive suite of HR solutions, addressing the needs of both enterprises and job seekers. Founded in 1998, the company operates major online recruitment platforms and provides various value-added services, including business process outsourcing and executive search.