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.
|
View original
content:https://www.prnewswire.com/news-releases/51job-inc-reports-fourth-quarter-and-fiscal-year-2021-financial-results-301514753.html
SOURCE 51job