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51job, Inc. Reports Fourth Quarter and Fiscal Year 2012 Financial Results

SHANGHAI, Feb. 20, 2013 /PRNewswire/ -- 51job, Inc. (Nasdaq: JOBS), a leading provider of integrated human resource services in China, announced today its unaudited financial results for the fourth quarter of 2012 and for the fiscal year ended December 31, 2012.

Fourth Quarter 2012 Financial Highlights:

  • Total revenues increased 7.4% over Q4 2011 to RMB397.3 million (US$63.8 million), exceeding the Company's guidance
  • Online recruitment services revenues increased 9.6% over Q4 2011 to RMB237.9 million (US$38.2 million)
  • Gross margin was 70.6% compared with 71.2% in Q4 2011
  • Income from operations increased 6.5% over Q4 2011 to RMB119.4 million (US$19.2 million)
  • Fully diluted earnings per common share were RMB2.06 (US$0.66 per ADS)
  • Excluding share-based compensation expense, loss from foreign currency translation and gain from sale of long-term investments as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB2.30 (US$0.74 per ADS), exceeding the Company's guidance

Fiscal Year 2012 Financial Highlights:

  • Total revenues increased 10.4% from 2011 to RMB1,512.2 million (US$242.7 million)
  • Gross margin increased to 72.0% compared with 71.5% in 2011
  • Operating income increased 10.1% over 2011 to RMB485.5 million (US$77.9 million)
  • Fully diluted earnings per common share were RMB7.92 (US$2.54 per ADS)
  • Excluding share-based compensation expense, loss from foreign currency translation and gain from sale of long-term investments as well as their related tax impact, non-GAAP adjusted fully diluted earnings per common share were RMB8.75 (US$2.81 per ADS)
  • Cash and short-term investments increased to RMB2,531.4 million (US$406.3 million) as of December 31, 2012

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, Inc., said, "Against the backdrop of an uncertain economic climate in China, weaker hiring demand and the accelerated wind down of our print operations, we are pleased to have achieved revenue growth and improved profitability in 2012.  With a sharp focus on executing our product development and sales strategies, we made meaningful progress in our online business, expanding our customer base and enhancing the user experience of job seekers.  We also benefited from the increasing contribution from our other HR services, which maintained a healthy growth trajectory despite volatile market conditions.  Our initiatives for 2013 are centered on further strengthening our position as the leading platform connecting employers and individuals in China, and we look forward to capturing exciting opportunities over the coming year."

Fourth Quarter 2012 Unaudited Financial Results

Total revenues for the fourth quarter ended December 31, 2012 were RMB397.3 million (US$63.8 million), an increase of 7.4% from RMB369.8 million for the same quarter in 2011.

Online recruitment services revenues for the fourth quarter of 2012 were RMB237.9 million (US$38.2 million), representing a 9.6% increase from RMB216.9 million for the same quarter of the prior year.  The growth was principally due to an increase in the number of unique employers using the Company's online recruitment services, which was partially offset by a decrease in average revenue per unique employer.  Unique employers increased 18.3% to 183,446 in the fourth quarter of 2012 compared with 155,050 in the same quarter of the prior year driven by successful customer acquisition efforts and the growing usage of online recruitment services by employers.  However, average revenue per unique employer decreased 7.3% in the fourth quarter of 2012 as compared to the same quarter in 2011 due to reduced spending by employers amid a slower economic environment in China in 2012.

Print advertising revenues for the fourth quarter of 2012 decreased 53.5% to RMB12.7 million (US$2.0 million) compared with RMB27.3 million for the same quarter in 2011 primarily due to the ongoing shift in demand away from print advertising services.  The estimated number of print advertising pages generated in the fourth quarter of 2012 declined 55.6% to 377 from 850 pages in the same quarter in 2011.  In addition, due to the Company's decision to discontinue certain newspaper editions, the number of cities where 51job Weekly is published decreased to 7 as of December 31, 2012 from 14 cities as of December 31, 2011.

Other human resource related revenues for the fourth quarter of 2012 increased 16.8% to RMB146.8 million (US$23.6 million) from RMB125.6 million in the same quarter of 2011 primarily due to greater market demand for business process outsourcing services.

Gross profit for the fourth quarter of 2012 increased 7.2% to RMB268.7 million (US$43.1 million) from RMB250.8 million for the same quarter of the prior year.  Gross margin, which is gross profit as a percentage of net revenues, was 70.6% in the fourth quarter of 2012 compared with 71.2% in the same quarter in 2011.

Operating expenses for the fourth quarter of 2012 increased 7.7% to RMB149.4 million (US$24.0 million) from RMB138.7 million for the same quarter of 2011.  Operating expenses as a percentage of net revenues was 39.2% for the fourth quarter of 2012 compared with 39.4% for the fourth quarter of 2011.  Sales and marketing expenses for the fourth quarter of 2012 decreased 0.7% to RMB97.2 million (US$15.6 million) from RMB97.9 million for the same quarter of the prior year primarily due to lower advertising and promotion expenses, which was mostly offset by higher employee compensation expenses.  General and administrative expenses for the fourth quarter of 2012 increased 28.0% to RMB52.2 million (US$8.4 million) from RMB40.8 million in the fourth quarter of 2011 primarily due to higher employee compensation, rental and office expenses as well as bad debt provision.

Income from operations for the fourth quarter of 2012 increased 6.5% to RMB119.4 million (US$19.2 million) from RMB112.1 million for the same quarter of the prior year.  Operating margin, which is income from operations as a percentage of net revenues, was 31.4% in the fourth quarter of 2012 compared with 31.8% in the same quarter of 2011.  Excluding share-based compensation expense, operating margin would be 35.0% in the fourth quarter of 2012 compared with 34.9% in the same quarter of 2011.  Other income in the fourth quarter of 2012 included financial subsidies of RMB12.1 million (US$1.9 million) and a gain of RMB1.3 million (US$0.2 million) from the sale of the coupon advertising services business owned by Area Link Co., Ltd., an entity in which we made investments in 2007 and 2008.

Net income for the fourth quarter of 2012 increased 7.2% to RMB122.1 million (US$19.6 million) from RMB113.9 million for the same quarter in 2011.  Fully diluted earnings per common share for the fourth quarter of 2012 were RMB2.06 (US$0.33) compared with RMB1.93 for the same quarter in 2011.  Fully diluted earnings per ADS for the fourth quarter of 2012 were RMB4.11 (US$0.66) compared with RMB3.87 in the fourth quarter of 2011.

In the fourth quarter of 2012, the Company recognized total share-based compensation expense of RMB13.8 million (US$2.2 million) compared with RMB11.0 million in the fourth quarter of 2011.  The Company also recognized a loss from foreign currency translation of RMB1.8 million (US$0.3 million) in the fourth quarter of 2012 compared with RMB0.9 million in the fourth quarter of 2011.

Excluding share-based compensation expense, loss from foreign currency translation and gain from sale of long-term investments as well as their related tax impact, non-GAAP adjusted net income for the fourth quarter of 2012 increased 8.4% to RMB136.3 million (US$21.9 million) compared with RMB125.8 million for the fourth quarter of 2011.  Non-GAAP adjusted fully diluted earnings per common share were RMB2.30 (US$0.37) in the fourth quarter of 2012 compared with RMB2.14 in the fourth quarter of 2011.  Non-GAAP adjusted fully diluted earnings per ADS in the fourth quarter of 2012 were RMB4.59 (US$0.74) compared with RMB4.27 in the fourth quarter of 2011.

Fiscal Year 2012 Unaudited Financial Results

Total revenues for 2012 were RMB1,512.2 million (US$242.7 million), an increase of 10.4% from RMB1,370.1 million in 2011.

Unique employers using the Company's online recruitment services grew 11.5% to 272,322 in 2012 from 244,243 in 2011.  Employers who purchase online services multiple times or in multiple quarters throughout the fiscal year are counted as one unique employer for the annual total.  The estimated number of print advertising pages generated in 2012 decreased 54.1% to 2,742 compared with 5,980 estimated pages in 2011.

Income from operations for 2012 increased 10.1% to RMB485.5 million (US$77.9 million) from RMB441.2 million in 2011.  Net income for 2012 increased 21.6% to RMB470.1 million (US$75.5 million) from RMB386.5 million in 2011.  Fully diluted earnings per common share for 2012 increased to RMB7.92 (US$1.27) from RMB6.54 in 2011.  Fully diluted earnings per ADS for 2012 were RMB15.84 (US$2.54) compared with RMB13.09 in 2011.

Excluding share-based compensation expense, loss from foreign currency translation, loss from impairment and gain from sale of long-term investments as well as their related tax impact, non-GAAP adjusted net income for 2012 increased 15.8% to RMB519.8 million (US$83.4 million) from RMB448.9 million in 2011.  Non-GAAP adjusted fully diluted earnings per common share were RMB8.75 (US$1.41) for 2012 compared with RMB7.60 in 2011.  Non-GAAP adjusted fully diluted earnings per ADS for 2012 were RMB17.51 (US$2.81) compared with RMB15.20 in 2011.

As of December 31, 2012, the Company had cash and short-term investments totaling RMB2,531.4 million (US$406.3 million) compared with RMB2,054.0 million as of December 31, 2011.  Short-term investments consist of certificates of deposit with original maturities from three months to one year.

Business Outlook

For the first quarter of 2013, the Company's business outlook will be impacted by the late arrival of the Chinese New Year holiday relative to 2012, which will materially affect seasonality and year-over-year comparisons.  Based on current market conditions and an expected significant year-over-year decrease in print advertising revenues as the Company transitions away from this business, the Company's revenue target for the first quarter of 2013 is in the estimated range of RMB380 million to RMB400 million (US$61.0 million to US$64.2 million).  Excluding share-based compensation expense and any loss or gain from foreign currency translation as well as their related tax impact, the Company's non-GAAP fully diluted earnings target for the first quarter of 2013 is in the estimated range of RMB1.95 to RMB2.20 per common share (US$0.63 to US$0.71 per ADS).  The Company expects total share-based compensation expense in the first quarter of 2013 to be approximately RMB13 million to RMB14 million (US$2.1 million to US$2.2 million).

Other Company News

In November and December 2012, the Company discontinued the publication of 51job Weekly in Shanghai and Ningbo, respectively, but continues to maintain its facilities and all other operations in these cities.

In November 2012, the Company paid RMB3.1 million (US$0.5 million) to complete the acquisition of 5,400 square meters of office space in Guangzhou.  The total purchase price was RMB95.8 million (US$15.4 million).

Currency Convenience Translation

For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollars at the rate of RMB6.2301 to US$1.00, the noon buying rate on December 31, 2012 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

Management will hold a conference call at 8:00 p.m. Eastern Time on February 20, 2013 (9:00 a.m. Shanghai / Hong Kong time zone on February 21, 2013) to discuss its fourth quarter and fiscal year 2012 financial results, operating performance and business outlook.  To dial in to the call, please use conference ID 4594776 and the following telephone numbers:

US:

+1-877-941-6009

Hong Kong:

+852-3009-5027

International:

+1-480-629-9819

The call will also be available live and on replay through 51job's investor relations website, ir.51job.com.  Please go to the website at least fifteen minutes early to register or install any necessary audio software.

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 measures of income before income tax expense, income tax expense, adjusted net income, adjusted earnings per share and adjusted earnings per ADS, which are adjusted from results based on GAAP to exclude share-based compensation expense, loss from foreign currency translation, loss from impairment and gain from sale of long-term investments as well as their related tax impact.  The Company believes excluding share-based compensation expense and its related tax impact 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 its related tax impact from its non-GAAP financial measures is useful for its management and investors as such translation 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.  The Company believes excluding the loss from impairment and gain from sale of long-term investments and its related tax impact from its non-GAAP financial measures is useful for its management and investors as such loss from impairment and gain from sale is unrelated to the Company's core business operations.  51job also believes these non-GAAP measures excluding share-based compensation expense, loss from foreign currency translation, loss from impairment and gain from sale of long-term investments, as well as their related tax impact, 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

51job, Inc. (Nasdaq: JOBS) is a leading provider of integrated human resource services in China with a strong focus on recruitment related services.  Through online recruitment services at www.51job.com and print advertisements in 51job Weekly, 51job enables enterprises to attract, identify and recruit employees and connects millions of job seekers with employment opportunities.  51job also provides a number of other value-added human resource services, including business process outsourcing, training, executive search and compensation and benefits analysis. 51job has a call center in Wuhan and a nationwide sales office network spanning 25 cities across China.

Safe Harbor Statement

Statements in this release regarding targets for the first quarter of 2013, future business and operating results constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995.  These statements are based upon management's current expectations, and actual results could differ materially.  Among the factors that could cause actual results to differ are the number of recruitment advertisements placed, sales orders received and customer contracts executed during the remaining weeks of the first quarter of 2013; any accounting adjustments that may occur during the quarterly close; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; behavioral and operational changes of customers in meeting their human resource needs as they respond to evolving social, economic and political changes in China as well as stock market volatilities; introduction by its competitors of new or enhanced products or services; price competition in the market for the various human resource services that the Company provides in China; acceptance of new products and services developed or introduced by the Company outside of the human resources industry and fluctuations in general economic conditions.  For additional information on these and other factors that may affect the Company's financial results, please refer to the Company's filings with the Securities and Exchange Commission.  51job undertakes no obligation to update these targets prior to announcing final results for the first quarter of 2013 or as a result of new information, future events or otherwise.

Contact:

Rebecca Liu
Investor Relations
51job, Inc.
+(86-21) 6879-6250
ir@51job.com

51job, Inc.

Consolidated Statements of Operations and Comprehensive Income








For the Three Months Ended


December 31,
2011


December 31,
2012


December 31,
2012


(unaudited)


(unaudited)


(unaudited)

(In thousands, except share, per share and per ADS data)







RMB


RMB


USD (Note 1)

Revenues:






                Online recruitment services

216,937


237,861


38,179

                Print advertising

27,275


12,677


2,035

                Other human resource related revenues

125,621


146,774


23,559

Total revenues

369,833


397,312


63,773

Less: Business and related tax

(17,422)


(16,656)


(2,674)

Net revenues

352,411


380,656


61,099

Cost of services (Note 2)

(101,644)


(111,908)


(17,962)

Gross profit

250,767


268,748


43,137

Operating expenses:






                Sales and marketing (Note 3)

(97,925)


(97,195)


(15,601)

                General and administrative (Note 4)

(40,781)


(52,195)


(8,378)

Total operating expenses

(138,706)


(149,390)


(23,979)

Income from operations

112,061


119,358


19,158

Loss from foreign currency translation

(921)


(1,760)


(282)

Interest and investment income

11,911


16,186


2,598

Other income

5,367


13,443


2,157

Income before income tax expense

128,418


147,227


23,631

Income tax expense

(14,488)


(25,104)


(4,029)

Net income

113,930


122,123


19,602

Other comprehensive income:






                Currency translation adjustments

35


23


4

Comprehensive income

113,965


122,146


19,606

Earnings per share:






                Basic

2.00


2.12


0.34

                Diluted

1.93


2.06


0.33

Earnings per ADS (Note 5):






                Basic

4.00


4.23


0.68

                Diluted

3.87


4.11


0.66

Weighted average number of common shares outstanding:






                Basic

56,942,481


57,721,227


57,721,227

                Diluted

58,902,070


59,359,096


59,359,096








Notes:







1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of US$1.00 to RMB6.2301 on
     December 31, 2012 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 RMB1,754 and RMB2,145 (US$344) for the three months ended December 31,
     2011 and 2012, respectively.

3. Includes share-based compensation expense of RMB1,508 and RMB1,844 (US$296) for the three months ended December 31,
    2011 and 2012, respectively.

4. Includes share-based compensation expense of RMB7,689 and RMB9,774 (US$1,569) for the three months ended December 31,
     2011 and 2012, respectively.

5. Each ADS represents two common shares.

 

51job, Inc.

Consolidated Statements of Operations and Comprehensive Income










For the Year Ended



December 31,
2011


December 31,

2012


December 31,
2012



(unaudited)


(unaudited)


(unaudited)

(In thousands, except share, per share and per ADS data)








RMB


RMB


USD (Note 1)

Revenues:






                Online recruitment services

803,004


943,432


151,431

                Print advertising

208,365


105,309


16,903

                Other human resource related revenues

358,730


463,508


74,399

Total revenues

1,370,099


1,512,249


242,733

Less: Business and related tax

(70,421)


(64,911)


(10,419)

Net revenues

1,299,678


1,447,338


232,314

Cost of services (Note 2)

(370,661)


(405,233)


(65,044)

Gross profit

929,017


1,042,105


167,270

Operating expenses:






                Sales and marketing (Note 3)

(329,466)


(370,100)


(59,405)

                General and administrative (Note 4)

(158,355)


(186,460)


(29,929)

Total operating expenses

(487,821)


(556,560)


(89,334)

Income from operations

441,196


485,545


77,936

Loss from foreign currency translation

(9,363)


(447)


(72)

Loss from impairment of long-term investments

(15,081)


-


-

Interest and investment income

42,033


61,653


9,896

Other income

8,779


18,934


3,038

Income before income tax expense

467,564


565,685


90,798

Income tax expense

(81,056)


(95,579)


(15,341)

Net income

386,508


470,106


75,457

Other comprehensive income:






                Currency translation adjustments

325


(9)


(1)

Comprehensive income

386,833


470,097


75,456

Earnings per share:






                Basic

6.81


8.17


1.31

                Diluted

6.54


7.92


1.27

Earnings per ADS (Note 5):






                Basic

13.62


16.35


2.62

                Diluted

13.09


15.84


2.54

Weighted average number of common shares outstanding:






                Basic

56,754,240


57,510,591


57,510,591

                Diluted

59,067,424


59,375,123


59,375,123








Notes:







1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of US$1.00 to RMB6.2301 on
    December 31, 2012 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 RMB6,084 and RMB7,870 (US$1,263) for 2011 and 2012, respectively.

3. Includes share-based compensation expense of RMB5,230 and RMB6,766 (US$1,086) for 2011 and 2012, respectively.

4. Includes share-based compensation expense of RMB26,660 and RMB35,902 (US$5,763) for 2011 and 2012, respectively.

5. Each ADS represents two common shares.

 

51job, Inc.

Reconciliation of GAAP and Non-GAAP Results










For the Three Months Ended



December 31,
2011


December 31,
2012


December 31,
2012



(unaudited)


(unaudited)


(unaudited)

(In thousands, except share, per share and per ADS data)








RMB


RMB


USD (Note 1)

GAAP income before income tax expense

128,418


147,227


23,631

Add back: Share-based compensation expense

10,951


13,763


2,209

Add back: Loss from foreign currency translation

921


1,760


282

Subtract: Gain from sale of long-term investments

-


(1,318)


(211)

Non-GAAP income before income tax expense

140,290


161,432


25,911

GAAP income tax expense

(14,488)


(25,104)


(4,029)

Tax impact of share-based compensation expense, loss from






                foreign currency translation and gain from sale of long-term






                investments

(3)


0


0

Non-GAAP income tax expense

(14,491)


(25,104)


(4,029)

Non-GAAP adjusted net income

125,799


136,328


21,882

Non-GAAP adjusted earnings per share:






                Basic

2.21


2.36


0.38

                Diluted

2.14


2.30


0.37

Non-GAAP adjusted earnings per ADS (Note 2):






                Basic

4.42


4.72


0.76

                Diluted

4.27


4.59


0.74

Weighted average number of common shares outstanding:






                Basic

56,942,481


57,721,227


57,721,227

                Diluted

58,902,070


59,359,096


59,359,096










For the Year Ended



December 31,
2011


December 31,
2012


December 31,
2012



(unaudited)


(unaudited)


(unaudited)

(In thousands, except share, per share and per ADS data)








RMB


RMB


USD (Note 1)

GAAP income before income tax expense

467,564


565,685


90,798

Add back: Share-based compensation expense

37,974


50,538


8,112

Add back: Loss from foreign currency translation

9,363


447


72

Add back: Loss from impairment of long-term investments

15,081


-


-

Subtract: Gain from sale of long-term investments

-


(1,318)


(211)

Non-GAAP income before income tax expense

529,982


615,352


98,771

GAAP income tax expense

(81,056)


(95,579)


(15,341)

Tax impact of share-based compensation expense, loss from






                foreign currency translation, loss from impairment and gain






                from sale of long-term investments

(51)


2


0

Non-GAAP income tax expense

(81,107)


(95,577)


(15,341)

Non-GAAP adjusted net income

448,875


519,775


83,430

Non-GAAP adjusted earnings per share:






                Basic

7.91


9.04


1.45

                Diluted

7.60


8.75


1.41

Non-GAAP adjusted earnings per ADS (Note 2):






                Basic

15.82


18.08


2.90

                Diluted

15.20


17.51


2.81

Weighted average number of common shares outstanding:






                Basic

56,754,240


57,510,591


57,510,591

                Diluted

59,067,424


59,375,123


59,375,123








Notes:







1. The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of US$1.00 to RMB6.2301 on
    December 31, 2012 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal
    Reserve Board.

2. Each ADS represents two common shares.

 

51job, Inc.

Consolidated Balance Sheets








As of


December 31,


December 31,


December 31,


2011


2012


2012

(In thousands, except share and per share data)

(unaudited)


(unaudited)


(unaudited)


RMB


RMB


USD (Note 1)







ASSETS






Current assets:






                Cash

783,699


1,122,557


180,183

                Restricted cash

4,263


14,468


2,322

                Short-term investments

1,270,343


1,408,845


226,135

                Accounts receivable (net of allowance of RMB2,022 and 
                       RMB3,260 as of December 31, 2011 and December 31, 
                       2012, respectively)

43,708


52,688


8,457

                Prepayments and other current assets

199,836


280,242


44,982

                Deferred tax assets, current

11,042


8,643


1,387

Total current assets

2,312,891


2,887,443


463,466

Property and equipment, net

192,120


280,657


45,049

Intangible assets, net

4,290


3,919


629

Other long-term assets

48,649


69,343


11,130

Deferred tax assets, non-current

86


-


-

Total non-current assets

245,145


353,919


56,808

Total assets

2,558,036


3,241,362


520,274

LIABILITIES






Current liabilities:






                Accounts payable

20,326


17,146


2,752

                Salary and employee related accrual

44,287


48,450


7,777

                Taxes payable

54,623


65,858


10,571

                Advance from customers

290,460


338,330


54,306

                Other payables and accruals

40,793


103,565


16,623

Total current liabilities

450,489


573,349


92,029

Deferred tax liabilities, non-current

1,972


1,985


318

Total liabilities

452,461


575,334


92,347

Shareholders' equity:






                Common shares (US$0.0001 par value; 500,000,000 
                       shares authorized, 56,981,341 and 57,786,679 shares 
                       issued and outstanding as of December 31, 2011 and 
                       December 31, 2012, respectively)

47


48


8

                Additional paid-in capital

1,061,819


1,152,174


184,937

                Statutory reserves

7,332


6,944


1,115

                Accumulated other comprehensive income

1,638


1,629


261

                Retained earnings

1,034,739


1,505,233


241,606

Total shareholders' equity

2,105,575


2,666,028


427,927

Total liabilities and shareholders' equity

2,558,036


3,241,362


520,274








Note 1: The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of US$1.00 to RMB6.2301 on
            December 31, 2012 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal
            Reserve Board.








 


SOURCE 51job, Inc.

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Cloud Expo Breaking News
File sync and share. Endpoint protection. Both are massive opportunities for today’s enterprise thanks to their business benefits and widespread user appeal. But one size does not fit all, especially user-adopted consumer technologies. Organizations must apply the right enterprise-ready tool for the job in order to properly manage and protect endpoint data. In his session at 14th Cloud Expo, Michael Bachman, Senior Enterprise Systems Architect at Code42, he will discuss how the synergy of an enterprise platform – where sync/share and endpoint protection converge – delivers incredible value for the business.
Simply defined the SDDC promises that you’ll be able to treat “all” of your IT infrastructure as if it’s completely malleable. That there are no restrictions to how you can use and assign everything from border controls to VM size as long as you stay within the technical capabilities of the devices. The promise is great, but the reality is still a dream for the majority of enterprises. In his session at 14th Cloud Expo, Mark Thiele, EVP, Data Center Tech, at SUPERNAP, will cover where and how a business might benefit from SDDC and also why they should or shouldn’t attempt to adopt today.
Today, developers and business units are leading the charge to cloud computing. The primary driver: faster access to computing resources by using the cloud's automated infrastructure provisioning. However, fast access to infrastructure exposes the next friction point: creating, delivering, and operating applications much faster. In his session at 14th Cloud Expo, Bernard Golden, VP of Strategy at ActiveState, will discuss why solving the next friction point is critical for true cloud computing success and how developers and business units can leverage service catalogs, frameworks, and DevOps to achieve the true goal of IT: delivering increased business value through applications.
APIs came about to help companies create and manage their digital ecosystem, enabling them not only to reach more customers through more devices, but also create a large supporting ecosystem of developers and partners. While Facebook, Twitter and Netflix were the early adopters of APIs, large enterprises have been quick to embrace the concept of APIs and have been leveraging APIs as a connective tissue that powers all interactions between their customers, partners and employees. As enterprises embrace APIs, some very specific Enterprise API Adoption patterns and best practices have started emerging. In his session at 14th Cloud Expo, Sachin Agarwal, VP of Product Marketing and Strategy at SOA Software, will talk about the most common enterprise API patterns and will discuss how enterprises can successfully launch an API program.
MapDB is an Apache-licensed open source database specifically designed for Java developers. The library uses the standard Java Collections API, making it totally natural for Java developers to use and adopt, while scaling database size from GBs to TBs. MapDB is very fast and supports an agile approach to data, allowing developers to construct flexible schemas to exactly match application needs and tune performance, durability and caching for specific requirements.
The social media expansion has shown just how people are eager to share their experiences with the rest of the world. Cloud technology is the perfect platform to satisfy this need given its great flexibility and readiness. At Cynny, we aim to revolutionize how people share and organize their digital life through a brand new cloud service, starting from infrastructure to the users’ interface. A revolution that began from inventing and designing our very own infrastructure: we have created the first server network powered solely by ARM CPU. The microservers have “organism-like” features, differentiating them from any of the current technologies. Benefits include low consumption of energy, making Cynny the ecologically friendly alternative for storage as well as cheaper infrastructure, lower running costs, etc.
Next-Gen Cloud. Whatever you call it, there’s a higher calling for cloud computing that requires providers to change their spots and move from a commodity mindset to a premium one. Businesses can no longer maintain the status quo that today’s service providers offer. Yes, the continuity, speed, mobility, data access and connectivity are staples of the cloud and always will be. But cloud providers that plan to not only exist tomorrow – but to lead – know that security must be the top priority for the cloud and are delivering it now. In his session at 14th Cloud Expo, Kurt Hagerman, Chief Information Security Officer at FireHost, will detail why and how you can have both infrastructure performance and enterprise-grade security – and what tomorrow's cloud provider will look like.
Web conferencing in a public cloud has the same risks as any other cloud service. If you have ever had concerns over the types of data being shared in your employees’ web conferences, such as IP, financials or customer data, then it’s time to look at web conferencing in a private cloud. In her session at 14th Cloud Expo, Courtney Behrens, Senior Marketing Manager at Brother International, will discuss how issues that had previously been out of your control, like performance, advanced administration and compliance, can now be put back behind your firewall.
More and more enterprises today are doing business by opening up their data and applications through APIs. Though forward-thinking and strategic, exposing APIs also increases the surface area for potential attack by hackers. To benefit from APIs while staying secure, enterprises and security architects need to continue to develop a deep understanding about API security and how it differs from traditional web application security or mobile application security. In his session at 14th Cloud Expo, Sachin Agarwal, VP of Product Marketing and Strategy at SOA Software, will walk you through the various aspects of how an API could be potentially exploited. He will discuss the necessary best practices to secure your data and enterprise applications while continue continuing to support your business’s digital initiatives.
The revolution that happened in the server universe over the past 15 years has resulted in an eco-system that is more open, more democratically innovative and produced better results in technically challenging dimensions like scale. The underpinnings of the revolution were common hardware, standards based APIs (ex. POSIX) and a strict adherence to layering and isolation between applications, daemons and kernel drivers/modules which allowed multiple types of development happen in parallel without hindering others. Put simply, today's server model is built on a consistent x86 platform with few surprises in its core components. A kernel abstracts away the platform, so that applications and daemons are decoupled from the hardware. In contrast, networking equipment is still stuck in the mainframe era. Today, networking equipment is a single appliance, including hardware, OS, applications and user interface come as a monolithic entity from a single vendor. Switching between different vendor'...
Cloud backup and recovery services are critical to safeguarding an organization’s data and ensuring business continuity when technical failures and outages occur. With so many choices, how do you find the right provider for your specific needs? In his session at 14th Cloud Expo, Daniel Jacobson, Technology Manager at BUMI, will outline the key factors including backup configurations, proactive monitoring, data restoration, disaster recovery drills, security, compliance and data center resources. Aside from the technical considerations, the secret sauce in identifying the best vendor is the level of focus, expertise and specialization of their engineering team and support group, and how they monitor your day-to-day backups, provide recommendations, and guide you through restores when necessary.
Cloud scalability and performance should be at the heart of every successful Internet venture. The infrastructure needs to be resilient, flexible, and fast – it’s best not to get caught thinking about architecture until the middle of an emergency, when it's too late. In his interactive, no-holds-barred session at 14th Cloud Expo, Phil Jackson, Development Community Advocate for SoftLayer, will dive into how to design and build-out the right cloud infrastructure.
You use an agile process; your goal is to make your organization more agile. What about your data infrastructure? The truth is, today’s databases are anything but agile – they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver on new features and capabilities needed to make your organization competitive. As your application and business needs change, data repositories and structures get outmoded rapidly, resulting in increased work for application developers and slow performance for end users. Further, as data sizes grow into the Big Data realm, this problem is exacerbated and becomes even more difficult to address. A seemingly simple schema change can take hours (or more) to perform, and as requirements evolve the disconnect between existing data structures and actual needs diverge.
SYS-CON Events announced today that SherWeb, a long-time leading provider of cloud services and Microsoft's 2013 World Hosting Partner of the Year, will exhibit at SYS-CON's 14th International Cloud Expo®, which will take place on June 10–12, 2014, at the Javits Center in New York City, New York. A worldwide hosted services leader ranking in the prestigious North American Deloitte Technology Fast 500TM, and Microsoft's 2013 World Hosting Partner of the Year, SherWeb provides competitive cloud solutions to businesses and partners around the world. Founded in 1998, SherWeb is a privately owned company headquartered in Quebec, Canada. Its service portfolio includes Microsoft Exchange, SharePoint, Lync, Dynamics CRM and more.
The world of cloud and application development is not just for the hardened developer these days. In their session at 14th Cloud Expo, Phil Jackson, Development Community Advocate for SoftLayer, and Harold Hannon, Sr. Software Architect at SoftLayer, will pull back the curtain of the architecture of a fun demo application purpose-built for the cloud. They will focus on demonstrating how they leveraged compute, storage, messaging, and other cloud elements hosted at SoftLayer to lower the effort and difficulty of putting together a useful application. This will be an active demonstration and review of simple command-line tools and resources, so don’t be afraid if you are not a seasoned developer.