51job, Inc. Reports Fourth Quarter and Fiscal Year 2021 Financial Results

Rhea-AI Summary

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).

Positive

• Net revenues for Q4 2021 were RMB1,345.2 million, a 15.7% increase from Q4 2020.
• Full year net revenues increased 19.8% to RMB4,420.4 million.
• Online recruitment services revenues grew 12.0% in Q4.
• Other HR related revenues surged 19.0% in Q4.
• Cash and short-term investments totaled RMB10,587.0 million as of December 31, 2021.

Negative

• Income from operations decreased by 36.4% to RMB551.3 million in 2021.
• Gross margin declined to 62.1% in 2021 from 65.8% in 2020.
• Sales and marketing expenses increased by 34.3% in Q4 2021.

SHANGHAI, March 31, 2022  /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 fourth quarter and fiscal year of 2021 ended December 31, 2021.

Fourth Quarter 2021 Financial Highlights:

• Net revenues increased 15.7% over Q4 2020 to RMB1,345.2 million (US$211.1 million)
• Online recruitment services revenues increased 12.0%
• Other human resource related revenues increased 19.0%
• Income from operations was RMB304.6 million (US$47.8 million)
• Fully diluted earnings per share was RMB5.23 (US$0.82)
• Non-GAAP adjusted fully diluted earnings per share^[1] was RMB5.99 (US$0.94)

Fiscal Year 2021 Financial Highlights:

• Net revenues increased 19.8% from 2020 to RMB4,420.4 million (US$693.7 million)
• Online recruitment services revenues increased 11.6%
• Other human resource related revenues increased 31.3%
• Income from operations was RMB551.3 million (US$86.5 million)
• Fully diluted earnings per share was RMB9.40 (US$1.47)
• Non-GAAP adjusted fully diluted earnings per share was RMB13.12 (US$2.06)

[1] Adjusted fully diluted earnings per share is a non-GAAP financial measure, which excludes share-based compensation expense, loss from foreign currency translation, and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items. Please refer to the "Use of Non-GAAP Financial Measures" section and "Reconciliation of GAAP and Non-GAAP Results" tables contained in this press release.

Fourth Quarter 2021 Unaudited Financial Results

Net revenues for the fourth quarter ended December 31, 2021 were RMB1,345.2 million (US$211.1 million), an increase of 15.7% from RMB1,163.1 million for the same quarter in 2020.

Online recruitment services revenues for the fourth quarter of 2021 increased 12.0% to RMB617.7 million (US$96.9 million) compared with RMB551.6 million for the same quarter in 2020, primarily due to an improvement in hiring sentiment, demand and activity from employers in 2021.

Other human resource related revenues for the fourth quarter of 2021 increased 19.0% to RMB727.5 million (US$114.2 million) from RMB611.5 million for the same quarter in 2020. The growth was primarily driven by robust employer demand for seasonal campus recruitment, business process outsourcing and training services in 2021.

Cost of services for the fourth quarter of 2021 increased 29.1% to RMB535.2 million (US$84.0 million) from RMB414.5 million for the same quarter in 2020, primarily due to higher employee compensation expenses, headcount additions and greater direct costs, such as venue rental, media production and technology support, incurred in providing campus recruitment services to employers. Gross profit for the fourth quarter of 2021 increased 8.2% to RMB810.0 million (US$127.1 million) from RMB748.6 million for the same quarter in 2020. Gross margin, which is gross profit as a percentage of net revenues, was 60.2% in the fourth quarter of 2021 compared with 64.4% for the same quarter in 2020.

Operating expenses for the fourth quarter of 2021 increased 28.9% to RMB505.4 million (US$79.3 million) from RMB392.0 million for the same quarter in 2020. Sales and marketing expenses for the fourth quarter of 2021 increased 34.3% to RMB403.6 million (US$63.3 million) from RMB300.6 million for the same quarter in 2020, primarily due to higher employee compensation expenses, staff additions and greater spending on advertising and brand awareness campaigns. Advertising and promotion expenses increased 27.7% to RMB90.0 million (US$14.1 million) for the fourth quarter of 2021 from RMB70.5 million for the same quarter in 2020.

General and administrative expenses for the fourth quarter of 2021 increased 11.3% to RMB101.8 million (US$16.0 million) from RMB91.4 million for the same quarter in 2020, primarily due to higher employee compensation expenses

Income from operations for the fourth quarter of 2021 was RMB304.6 million (US$47.8 million) compared with RMB356.6 million for the fourth quarter of 2020. Operating margin, which is income from operations as a percentage of net revenues, was 22.6% for the fourth quarter of 2021 compared with 30.7% for the same quarter in 2020. Excluding share-based compensation expense, operating margin would have been 24.9% for the fourth quarter of 2021 compared with 33.7% for the same quarter in 2020.

The Company recognized a loss from foreign currency translation of RMB10.9 million (US$1.7 million) in the fourth quarter of 2021 compared with RMB33.9 million in the fourth quarter of 2020, 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.

The Company recognized a mark-to-market, non-cash loss of RMB10.7 million (US$1.7 million) in the fourth quarter of 2021 compared with RMB9.4 million in the fourth quarter of 2020 associated with a change in fair value of listed equity securities investment in Huali University Group Limited, which is traded on the Hong Kong Stock Exchange. The Company also recognized RMB3.4 million (US$0.5 million) in professional services fees and administrative expenses related to the proposed going-private transaction in the fourth quarter of 2021.

Other income in the fourth quarter of 2021 included local government financial subsidies of RMB98.6 million (US$15.5 million) compared with RMB14.9 million in the fourth quarter of 2020.

Net income attributable to 51job for the fourth quarter of 2021 was RMB355.2 million (US$55.7 million) compared with RMB342.0 million for the same quarter in 2020. Fully diluted earnings per share for the fourth quarter of 2021 was RMB5.23 (US$0.82) compared with RMB5.01 for the same quarter in 2020.

In the fourth quarter of 2021, total share-based compensation expense was RMB29.9 million (US$4.7 million) compared with RMB35.0 million in the fourth quarter of 2020.

Excluding share-based compensation expense, loss from foreign currency translation and change in fair value of listed equity securities investment, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job for the fourth quarter of 2021 was RMB406.7 million (US$63.8 million) compared with RMB420.1 million for the fourth quarter of 2020. Non-GAAP adjusted fully diluted earnings per share was RMB5.99 (US$0.94) in the fourth quarter of 2021 compared with RMB6.16 in the fourth quarter of 2020.

Fiscal Year 2021 Unaudited Financial Results

Net revenues in 2021 were RMB4,420.4 million (US$693.7 million), an increase of 19.8% from RMB3,689.0 million in 2020

Online recruitment services revenues in 2021 increased 11.6% to RMB2,396.2 million (US$376.0 million) from RMB2,147.3 million in 2020. The increase was primarily due to the improvement in business activity and more recruitment needs of employers in China in 2021.

Other human resource related revenues in 2021 increased 31.3% to RMB2,024.2 million (US$317.6 million) from RMB1,541.6 million in 2020, primarily due to resilient customer demand and usage of the Company's training, campus recruitment, placement and business process outsourcing services.

Cost of services in 2021 increased 32.9% to RMB1,676.7 million (US$263.1 million) from RMB1,261.7 million in 2020, primarily due to higher employee compensation expenses and headcount additions. Gross profit in 2021 increased 13.0% to RMB2,743.7 million (US$430.5 million) from RMB2,427.2 million in 2020. Gross margin was 62.1% in 2021 compared with 65.8% in 2020.

Income from operations in 2021 decreased 36.4% to RMB551.3 million (US$86.5 million) from RMB867.1 million in 2020, primarily due to the significant increase in sales and marketing expenses in 2021. Operating margin was 12.5% in 2021 compared with 23.5% in 2020. Excluding share-based compensation expense, operating margin would have been 15.9% in 2021 compared with 27.4% in 2020.

Net income attributable to 51job in 2021 was RMB640.7 million (US$100.5 million) compared with RMB1,097.3 million in 2020. Fully diluted earnings per share in 2021 was RMB9.40 (US$1.47) compared with RMB16.12 in 2020.

Excluding share-based compensation expense, loss from foreign currency translation, and changes in fair value of listed equity securities investment and long-term investment, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job in 2021 was RMB894.4 million (US$140.4 million) compared with RMB1,243.9 million in 2020. Non-GAAP adjusted fully diluted earnings per share was RMB13.12 (US$2.06) in 2021 compared with RMB18.28 in 2020.

As of December 31, 2021, cash and short-term investments totaled RMB10,587.0 million (US$1,661.3 million) compared with RMB10,761.9 million as of December 31, 2020.

Currency Convenience Translation

For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollar amounts at the rate of RMB6.3726 to US$1.00, the noon buying rate on December 30, 2021 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

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 changes in fair value of listed equity securities investment and long-term investment, 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 changes in fair value of listed equity securities investment and long-term investment, 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, loss from foreign currency translation and changes in fair value of listed equity securities investment and long-term investment, 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, 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.

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, 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.

Contact
Investor Relations, 51job, Inc.
Tel: +86-21-6879-6250
Email: ir@51job.com

 

 

51job, Inc.
Consolidated Statements of Operations and Comprehensive Income
	For the Three Months Ended
	December 31, 2020		December 31, 2021		December 31, 2021
(In thousands, except share and per share data)	(unaudited)		(unaudited)		(unaudited)
	RMB		RMB		US$ (Note 1)
Revenues:
Online recruitment services	551,562		617,703		96,931
Other human resource related revenues	611,545		727,480		114,157
Net revenues	1,163,107		1,345,183		211,088
Cost of services (Note 2)	(414,504)		(535,189)		(83,983)
Gross profit	748,603		809,994		127,105
Operating expenses:
Sales and marketing (Note 3)	(300,583)		(403,604)		(63,334)
General and administrative (Note 4)	(91,439)		(101,786)		(15,972)
Total operating expenses	(392,022)		(505,390)		(79,306)
Income from operations	356,581		304,604		47,799
Loss from foreign currency translation	(33,851)		(10,917)		(1,713)
Interest and investment income, net	59,482		56,142		8,810
Change in fair value of listed equity securities investment	(9,404)		(10,715)		(1,681)
Fees and expenses related to proposed going-private      transaction	—		(3,357)		(527)
Other income, net	11,691		98,335		15,431
Income before income tax expense	384,499		434,092		68,119
Income tax expense	(52,695)		(83,210)		(13,057)
Net income	331,804		350,882		55,062
Net loss attributable to non-controlling interests	10,244		4,273		671
Net income attributable to 51job, Inc.	342,048		355,155		55,733
Net income	331,804		350,882		55,062
Other comprehensive income (loss)	22,745		(269)		(42)
Total comprehensive income	354,549		350,613		55,020
Earnings per share:
Basic	5.07		5.27		0.83
Diluted	5.01		5.23		0.82
Weighted average number of common shares outstanding:
Basic	67,402,582		67,437,209		67,437,209
Diluted	68,245,670		67,941,118		67,941,118
Notes:
(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.3726
to US$1.00 on December 30, 2021 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 RMB6,307 and RMB4,933 (US$774) for the three months ended
December 31, 2020 and 2021, respectively.
(3) Includes share-based compensation expense of RMB5,422 and RMB4,241 (US$666) for the three months ended
December 31, 2020 and 2021, respectively.
(4) Includes share-based compensation expense of RMB23,280 and RMB20,717 (US$3,251) for the three months ended
December 31, 2020 and 2021, respectively.

 

 

51job, Inc.
Consolidated Statements of Operations and Comprehensive Income
	For the Year Ended
	December 31, 2020		December 31, 2021		December 31, 2021
(In thousands, except share and per share data)	(unaudited)		(unaudited)		(unaudited)
	RMB		RMB		US$ (Note 1)
Revenues:
Online recruitment services	2,147,334		2,396,209		376,017
Other human resource related revenues	1,541,617		2,024,219		317,644
Net revenues	3,688,951		4,420,428		693,661
Cost of services (Note 2)	(1,261,731)		(1,676,727)		(263,115)
Gross profit	2,427,220		2,743,701		430,546
Operating expenses:
Sales and marketing (Note 3)	(1,182,677)		(1,790,535)		(280,974)
General and administrative (Note 4)	(377,438)		(401,827)		(63,055)
Total operating expenses	(1,560,115)		(2,192,362)		(344,029)
Income from operations	867,105		551,339		86,517
Loss from foreign currency translation	(53,442)		(15,793)		(2,478)
Interest and investment income, net	228,500		212,690		33,376
Change in fair value of listed equity securities investment	10,760		(88,296)		(13,856)
Fees and expenses related to proposed going-private      transaction	—		(87,544)		(13,738)
Change in fair value of long-term investment	39,614		—		—
Other income, net	167,308		192,233		30,166
Income before income tax expense	1,259,845		764,629		119,987
Income tax expense	(188,417)		(155,721)		(24,436)
Net income	1,071,428		608,908		95,551
Net loss attributable to non-controlling interests	25,848		31,775		4,986
Net income attributable to 51job, Inc.	1,097,276		640,683		100,537
Net income	1,071,428		608,908		95,551
Other comprehensive income (loss)	22,451		(415)		(65)
Total comprehensive income	1,093,879		608,493		95,486
Earnings per share:
Basic	16.35		9.50		1.49
Diluted	16.12		9.40		1.47
Weighted average number of common shares outstanding:
Basic	67,101,601		67,429,296		67,429,296
Diluted	68,056,724		68,185,891		68,185,891
Notes:
(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.3726
to US$1.00 on December 30, 2021 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 RMB23,648 and RMB24,019 (US$3,769) for the year ended
December 31, 2020 and 2021, respectively.
(3) Includes share-based compensation expense of RMB20,329 and RMB20,648 (US$3,240) for the year ended
December 31, 2020 and 2021, respectively.
(4) Includes share-based compensation expense of RMB99,829 and RMB104,889 (US$16,460) for the year ended
December 31, 2020 and 2021, respectively.

 

 

51job, Inc.
Reconciliation of GAAP and Non-GAAP Results
	For the Three Months Ended
	December 31, 2020		December 31, 2021		December 31, 2021
(In thousands, except share and per share data)	(unaudited)		(unaudited)		(unaudited)
	RMB		RMB		US$ (Note 1)
GAAP income before income tax expense	384,499		434,092		68,119
Add: Share-based compensation	35,009		29,891		4,691
Add: Loss from foreign currency translation	33,851		10,917		1,713
Add: Change in fair value of listed equity securities investment	9,404		10,715		1,681
Non-GAAP income before income tax expense	462,763		485,615		76,204
GAAP income tax expense	(52,695)		(83,210)		(13,057)
Tax effect of non-GAAP line items	(208)		(7)		(1)
Non-GAAP income tax expense	(52,903)		(83,217)		(13,058)
Non-GAAP adjusted net income	409,860		402,398		63,146
Non-GAAP adjusted net income attributable to 51job, Inc.	420,104		406,671		63,817
Non-GAAP adjusted earnings per share:
Basic	6.23		6.03		0.95
Diluted	6.16		5.99		0.94
Weighted average number of common shares outstanding:
Basic	67,402,582		67,437,209		67,437,209
Diluted	68,245,670		67,941,118		67,941,118
	For the Year Ended
	December 31, 2020		December 31, 2021		December 31, 2021
(In thousands, except share and per share data)	(unaudited)		(unaudited)		(unaudited)
	RMB		RMB		US$ (Note 1)
GAAP income before income tax expense	1,259,845		764,629		119,987
Add: Share-based compensation	143,806		149,556		23,469
Add: Loss from foreign currency translation	53,442		15,793		2,478
Add (Less): Change in fair value of listed equity securities      investment	(10,760)		88,296		13,856
Less: Change in fair value of long-term investment	(39,614)		—		—
Non-GAAP income before income tax expense	1,406,719		1,018,274		159,790
GAAP income tax expense	(188,417)		(155,721)		(24,436)
Tax effect of non-GAAP line items	(279)		79		12
Non-GAAP income tax expense	(188,696)		(155,642)		(24,424)
Non-GAAP adjusted net income	1,218,023		862,632		135,366
Non-GAAP adjusted net income attributable to 51job, Inc.	1,243,871		894,407		140,352
Non-GAAP adjusted earnings per share:
Basic	18.54		13.26		2.08
Diluted	18.28		13.12		2.06
Weighted average number of common shares outstanding:
Basic	67,101,601		67,429,296		67,429,296
Diluted	68,056,724		68,185,891		68,185,891
Note (1): The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of
RMB6.3726 to US$1.00 on December 30, 2021 in New York for cable transfers of Renminbi as set forth in the
H.10 weekly statistical release of the Federal Reserve Board.

 

 

51job, Inc.
Consolidated Balance Sheets
		As of
		December 31, 2020		December 31, 2021		December 31, 2021
(In thousands, except share and per share data)		(unaudited)		(unaudited)		(unaudited)
		RMB		RMB		US$ (Note 1)
ASSETS
Current assets:
	Cash	3,292,698		10,539,923		1,653,944
	Restricted cash	2,258		—		—
	Short-term investments	7,469,213		47,116		7,394
	Accounts receivable (net of allowance of RMB26,798 and
	RMB27,522 as of December 31, 2020 and 2021, respectively)	290,480		382,164		59,970
	Prepayments and other current assets	492,980		561,677		88,139
Total current assets		11,547,629		11,530,880		1,809,447
Non-current assets:
	Time deposits	719,189		745,450		116,977
	Long-term investments	1,576,250		1,474,928		231,448
	Property and equipment, net	273,157		755,789		118,600
	Goodwill	1,036,124		1,036,124		162,590
	Intangible assets, net	163,503		126,497		19,850
	Right-of-use assets	307,869		1,839,143		288,602
	Other long-term assets	13,946		14,065		2,207
	Deferred tax assets	38,013		52,793		8,284
Total non-current assets		4,128,051		6,044,789		948,558
Total assets		15,675,680		17,575,669		2,758,005
LIABILITIES, MEZZANINE EQUITY AND EQUITY
Current liabilities:
	Current portion of long-term bank loan	—		52,500		8,238
	Accounts payable	83,087		136,999		21,498
	Salary and employee related accrual	182,565		221,890		34,819
	Taxes payable	172,254		212,873		33,404
	Advances from customers	1,158,604		1,163,615		182,598
	Lease liabilities, current	34,952		42,093		6,605
	Other payables and accruals	1,178,955		1,132,921		177,780
Total current liabilities		2,810,417		2,962,891		464,942
Non-current liabilities:
	Long-term bank loan	—		997,500		156,530
	Lease liabilities, non-current	44,949		37,776		5,928
	Deferred tax liabilities	232,087		224,571		35,240
Total non-current liabilities		277,036		1,259,847		197,698
Total liabilities		3,087,453		4,222,738		662,640
Mezzanine equity:
	Redeemable non-controlling interests	189,811		156,880		24,618
Shareholders' equity:
	Common shares (US$0.0001 par value: 500,000,000 shares
	authorized, 67,406,657 and 67,437,209 shares issued and
	outstanding as of December 31, 2020 and 2021, respectively)	54		54		8
	Additional paid-in capital	5,206,154		5,363,570		841,661
	Statutory reserves	18,474		18,840		2,956
	Accumulated other comprehensive income	276,975		276,560		43,398
	Retained earnings	6,871,090		7,511,407		1,178,704
Total 51job, Inc. shareholders' equity		12,372,747		13,170,431		2,066,727
Non-controlling interests		25,669		25,620		4,020
Total equity		12,398,416		13,196,051		2,070,747
Total liabilities, mezzanine equity and equity		15,675,680		17,575,669		2,758,005
Note (1): The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB6.3726
to US$1.00 on December 30, 2021 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

FAQ

What were 51job's Q4 2021 net revenues?

51job's Q4 2021 net revenues were RMB1,345.2 million (US$211.1 million), a 15.7% increase from the same quarter in 2020.

How did 51job perform in fiscal year 2021?

In fiscal year 2021, 51job reported net revenues of RMB4,420.4 million (US$693.7 million), a 19.8% increase from 2020.

What was 51job's fully diluted EPS for Q4 2021?

The fully diluted earnings per share for 51job in Q4 2021 was RMB5.23 (US$0.82), up from RMB5.01 in Q4 2020.

What were the main factors contributing to 51job's revenue growth in 2021?

Revenue growth in 2021 was primarily driven by increased demand in online recruitment services and strong demand for other human resource-related services.

What were the operating income results for 51job in 2021?

Operating income for 51job decreased by 36.4% to RMB551.3 million in 2021 compared to RMB867.1 million in 2020.