Zhaopin Limited (ZPIN)

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ZPINhttp://www.nasdaq.com/symbol/zpinTechnology2014Professional Services

Latest Zhaopin Limited (ZPIN) company news

China White-collar Average Salary Went Up in the Third Quarter of 2017

BEIJING, Oct. 19, 2017 /PRNewswire/ -- Zhaopin Limited ("Zhaopin" or the "Company"), a leading career platform[2] in China focused on connecting users with relevant job opportunities through their career lifecycle, released its 2017 third-quarter report on China labor market supply and demand for white-collar workers. While the competition for jobs continued to ease in the third quarter, the average monthly salary for white-collar workers went up to reach RMB7,599, representing a 3% increase over the previous quarter.

Third-Quarter of 2017 China White-Collar Labor Market Highlights:

  • The average monthly salary reached RMB7,599 in the third quarter of 2017, up 3% over the second quarter.
  • The overall economy was picking up in the third quarter, and emerging first-tier cities were offering higher salaries and subsidies to attract more talent, which pushed up the average monthly salary for white-collar workers in China.
  • Beijing continued to be the city with the highest pay in the third quarter of 2017, with an average monthly salary of RMB9,900, up from RMB9,791 in the second quarter.
  • Competition for jobs among white-collar workers continued to ease in the third quarter of 2017, with an average of 30.4 applications per job vacancy, down from 35.8 applications in the second quarter.
  • Online games returned to the top as the most competitive sector for job seekers in the third quarter of 2017, with 50.0 applications per vacancy.
  • The most competitive occupation in the third quarter of 2017 was software/internet development/system integration with 101.2 applications per vacancy.

Salaries going up slightly

Based on online job postings in 37 key cities in China compiled by Zhaopin, the average monthly salary in the third quarter of 2017 was RMB7,599, up 3% over the second quarter. The overall economy was picking up in the third quarter, and emerging first-tier cities were offering higher salaries and subsidies to attract more talent, which pushed up the average monthly salary for white-collar workers in China.

Average monthly salary for white-collar workers

Quarter

Average salary (RMB)

Change over previous quarter

Q3 2016

7,531

4.1%

Q4 2016

7,606

1.0%

Q1 2017

7,665

0.8%

Q2 2017

7,376

- 3.8%

Q3 2017

7,599

3.0%

Among job postings in the third quarter of 2017, 32.6% of positions offered monthly salaries between RMB4,001 and 6,000, and 27.6% offered monthly salaries of more than RMB8,000. About 21% of positions offered monthly salaries between RMB6,001 and 8,000.

Breakdown of positions by monthly salaries in the third quarter of 2017

Salary (RMB)

Percentage of positions

Over 8,000

27.6 %

6,001 to 8,000

21.0%

4,001 to 6,000

32.6%

2,001 to 4,000

18.0%

Below 2,000

0.8%

Beijing continued to be the city with the highest pay in the third quarter of 2017, with an average monthly salary of RMB9,900, up from RMB9,791 in the second quarter. Ningbo climbed to 5th in the ranking with an average monthly salary of RMB7,843 in the third quarter, and Haikou jumped to 7th from 13th with an average monthly salary of RMB7,722. Both cities were making efforts to lure talents with attractive packages.

Average monthly salary for cities in the third quarter of 2017

Ranking

City

Average monthly salary (RMB)

Ranking

City

Average monthly salary (RMB)

1

Beijing

9,900

20

Wuxi

7,003

2

Shanghai

9,365

21

Wuhan

6,992

3

Shenzhen

8,666

22

Chengdu

6,910

4

Hangzhou

8,301

23

Nanchang

6,829

5

Ningbo

7,843

24

Changsha

6,822

6

Guangzhou

7,776

25

Jinan

6,783

7

Haikou

7,722

26

Hefei

6,762

8

Dongguan

7,692

27

Tianjin

6,760

9

Foshan

7,596

28

Qingdao

6,665

10

Urumqi

7,595

29

Dalian

6,598

11

Nanning

7,469

30

Zhengzhou

6,578

12

Nanjing

7,441

31

Yantai

6,437

13

Suzhou

7,346

32

Shijiazhuang

6,423

14

Xiamen

7,335

33

Taiyuan

6,284

15

Guiyang

7,324

34

Xi'an

6,201

16

Kunming

7,196

35

Changchun

6,086

17

Chongqing

7,183

36

Shenyang

6,028

18

Lanzhou

7,159

37

Harbin

6,004

19

Fuzhou

7,015




The best-paying sector in the third quarter of 2017 continued to be professional services/consulting (finance and accounting, legal and Human Resources, etc.) with an average monthly salary of RMB10,187, followed by RMB9,703 for funds/securities/futures/investment and RMB9,336 for academic/R&D.

Top 10 highest paid sectors in the third quarter of 2017

Sector

Average monthly salary (RMB)

Professional service/consulting (finance and accounting, legal and HR, etc.)

10,187

Funds/securities/futures/investment

9,703

Academic/R&D

9,336

Energy/mineral/mining/smelting

9,233

Intermediary service

9,225

Cross-industry operation

9,191

Trust/warrant/auction/pawn

8,657

Real estate/construction/building materials/engineering

8,540

Banking

8,482

Traffic/transportation

8,373

The top three occupations with the highest monthly salaries in the third quarter of 2017 were senior management (RMB20,019), IT management/project coordination (RMB14,127) and securities/futures/investment management/service (RMB11,690).

Top 10 highest paid occupations in the third quarter of 2017

Occupation

Average monthly salary (RMB)

Senior management

20,019

IT management/project coordination

14,127

Securities/futures/investment management/service

11,690

Sales management

10,961

Real estate development/broker/agency

10,410

Software/internet development/system integration

9,828

Project management/project coordination

9,711

Hardware development

9,386

Banking

9,313

law/legal/compliance

9,252

Wholly foreign-owned enterprises offered the highest average monthly salary of RMB8,286 in the third quarter, followed by RMB8,163 for joint ventures and RMB8,080 for public companies.

Average monthly salaries from different types of companies

in the third quarter of 2017

Type of Company

Average monthly salary (RMB)

Wholly foreign-owned enterprises

8,286

Joint ventures

8,163

Public companies

8,080

Public institutions

8,037

State-owned enterprises

7,968

Private companies

7,357

Larger companies offered higher salaries in the third quarter. Small and micro-sized companies were not competitive to attract talent.

Average monthly salaries for companies of different sizes

in the third quarter of 2017

Size of company by employee numbers

Average monthly salary (RMB)

Below 20

6,977

20-99

7,352

100-499

7,445

500-999

7,776

1,000-9,999

8,227

Above 10,000

8,189

Job market competition easing for white-collar workers

Zhaopin publishes the quarterly competitive index for the labor market based on data collected from its online platform. The competitive index is calculated based on the number of resume applications divided by the number of job vacancies. For the third quarter of 2017, the competitive index was 30.4, which means there were an average of 30.4 applications per job vacancy, down from 35.8 in the second quarter of 2017.

Compared with the previous four quarters, the job market competition for white-collar workers continued to ease in the third quarter of 2017. Autumn is traditionally a slow season for job hopping, and white-collar workers were more cautious in seeking new opportunities.

Competitive index

Quarter

Competitive index

Q3 2016

37.8

Q4 2016

40.3

Q1 2017

44.6

Q2 2017

35.8

Q3 2017

30.4

(Competitive index = number of applications/number of job vacancies)

Beijing was by far the most competitive city for white-collar workers, with a competitive index of 82.4 in the third quarter of 2017, down from 89.9 in the second quarter of 2017.

Competitive index for cities in the third quarter of 2017

Ranking

City

Index

Ranking

City

Index

1

Beijing

82.4

20

Wuhan

19.1

2

Shenzhen

39.7

21

Qingdao

19.0

3

Shenyang

39.3

22

Guiyang

17.9

4

Chengdu

37.8

23

Zhengzhou

17.1

5

Shanghai

37.4

24

Kunming

17.1

6

Tianjin

31.5

25

Shijiazhuang

16.4

7

Dalian

30.8

26

Jinan

16.0

8

Xi'an

27.7

27

Urumqi

14.0

9

Guangzhou

26.3

28

Yantai

13.6

10

Changchun

24.7

29

Wuxi

13.5

11

Harbin

23.7

30

Hefei

12.6

12

Changsha

20.9

31

Nanchang

11.3

13

Nanjing

20.8

32

Nanning

11.2

14

Chongqing

20.7

33

Fuzhou

10.0

15

Suzhou

20.3

34

Dongguan

9.6

16

Lanzhou

20.3

35

Xiamen

9.4

17

Taiyuan

20.2

36

Foshan

9.1

18

Haikou

19.7

37

Ningbo

7.7

19

Hangzhou

19.2




Competitive index = number of applications/number of job vacancies

First-tier cities (Beijing, Shanghai, Shenzhen and Guangzhou) continued to be the top four cities with the highest job demand in the third quarter of 2017. Emerging first-tier cities, including Chengdu, Hangzhou, Nanjing and Xi'an, were also among the top ten cities with the highest job demand.

Top ten cities with the highest job demand

 in the third quarter of 2017

Ranking

City

1

Beijing

2

Shanghai

3

Shenzhen

4

Guangzhou

5

Zhengzhou

6

Chengdu

7

Hangzhou

8

Xi'an

9

Nanjing

10

Wuhan

Eight of the top ten cities with most job applications in the third quarter of 2017 were also cities with the highest job demand, indicating that these cities with high job demand were also attracting job seekers.

Top ten cities with most job applications

 in the third quarter of 2017

Ranking

City

1

Beijing

2

Shanghai

3

Shenzhen

4

Chengdu

5

Guangzhou

6

Tianjin

7

Xi'an

8

Zhengzhou

9

Hangzhou

10

Shenyang

In terms of employer size, companies with 1,000 to 9,999 employees were the most competitive for job seekers, with an index of 39.7, followed by 34.1 for companies over 10,000 employees. The competition for positions in small and micro-sized companies was relatively low due to low brand recognition.

Competitve index for different size companies

 in the third quarter of 2017

Size of Company by employee numbers

Index

Below 20

20.2

20-99

26.2

100-499

31.1

500-999

32.8

1,000-9,999

39.7

Over 10,000

34.1

Supply and demand by sector

In the third quarter of 2017, the internet/e-commerce sector continued to top the list with the most job vacancies, followed by real estate/construction/building materials/engineering and education/training/college sectors.

Top ten sectors with the highest job demand in the third quarter of 2017

Ranking

Sector

1

Internet/e-commerce

2

Real estate/construction/building materials/engineering

3

Education/training/college

4

Funds/securities/futures/investment

5

Computer software

6

Professional service/consulting (finance and accounting, legal and HR, etc.)

7

Trade/export and import

8

FMCG (food, drinks, alcohol and tobacco, and chemicals for daily use)

9

IT services (system/data/maintenance)

10

Home furnishing/interior design/decoration

Online games returned to the top as the most competitive sector for job seekers in the third quarter of 2017, with 50 applications per vacancy. The competitive index for most sectors declined in the third quarter of 2017 from the previous quarter.

Top ten most competitive sectors in the third quarter of 2017

Ranking

Sector

Index

Ranking in previous quarter

1

Online games

50.0

2

2

IT services (system/data/maintenance)

42.8

4

3

Internet/e-commerce

41.5

8

4

Real estate/construction/building materials/engineering

41.1

5

5

Computer software

39.6

7

6

Telecom/carrier operators/value-added service

39.2

1

7

Cross-industry operation

38.7

6

8

Aviation/aerospace research and manufacturing

35.0

3

9

Funds/securities/futures/investment

34.8

16

10

Media/publishing/movie and TV/culture communications

34.8

12

Insurance continued to be the least competitive sector in the third quarter of 2017, with 12.5 applications per vacancy, followed by 15.6 for intermediary service and 17.0 for office supplies and equipment.

Least competitive sectors in the third quarter of 2017

Sector

Index

Insurance

12.5

Intermediary service

15.6

Office supplies and equipment

17.0

Printing/packaging/papermaking

17.6

Outsourcing service

19.2

Home furnishing/interior design/decoration

20.5

Processing and manufacturing (raw material processing/mould)

20.6

Gifts/toys/arts and crafts/collection/luxuries

22.6

Trust/warrant/auction/pawn

22.7

Banking

22.8

The sectors with the most job applications in the third quarter of 2017 included internet/e-commerce, computer software and real estate/construction/building materials/engineering.

Top ten sectors with the most job applications in the third quarter of 2017

Ranking

Sector

1

Internet/e-commerce

2

Computer software

3

Real estate/construction/building materials/engineering

4

Funds/securities/futures/investment

5

Education/training/college

6

IT services (system/data/maintenance)

7

Professional service/consulting (finance and accounting, legal and HR, etc.)

8

FMCG (food, drinks, alcohol and tobacco, and chemicals for daily use)

9

Media/publishing/movie and TV/culture communications

10

Trade/export and import

Supply and demand by occupation

The top occupations with the most vacancies for white collar workers in the third quarter of 2017 were almost the same as in the second quarter of 2017, including sales, administration/logistics/secretary, and software/internet development/system integration.

Top ten occupations with the highest job demand in the third quarter of 2017

Ranking

Occupation

1

Sales

2

Administration/logistics/secretary

3

Software/internet development/system integration

4

Sales management

5

Education/training

6

Finance/auditing/tax

7

Customer service/pre-sales and after-sales support

8

Human resources

9

Civil engineering/construction/decoration/municipal engineering

10

Internet products/operation management

The most competitive occupation in the third quarter of 2017 was software/internet development/system integration with 101.2 applications per vacancy, followed by 87.1 for IT quality management/testing/configuration management, and 59.3 for senior management.

Top 10 most competitive occupations in the third quarter of 2017

Ranking

Occupation

Index

Ranking in previous quarter

1

Software/internet development/system integration

101.2

1

2

IT quality management/testing/configuration management

87.1

2

3

Senior management

59.3

5

4

Transportation services

56.8

4

5

Finance/auditing/tax

50.1

3

6

Human resources

47.0

6

7

Administration/logistics/secretary

41.5

8

8

Civil engineering/construction/decoration/municipal engineering

38.5

7

9

Purchasing/trade

36.1

10

10

IT operation and maintenance/technical support

36.0

12

The least competitive occupations in the third quarter of 2017 were healthcare/beauty/hairdressing/bodybuilding with 9.7 applications per vacancy, followed by 10.3 for community/residency/housekeeping, and 10.5 for insurance.

Least competitive occupations in the third quarter of 2017

Occupation

Index

Healthcare/beauty/hairdressing/bodybuilding

9.7

Community/residency/housekeeping

10.3

Insurance

10.5

Mechanic/operator

11.2

Sales

11.7

Cooking/catering/food R&D

11.7

Farming/forestry/animal husbandry/fishery

12.3

Trust/warrant/auction/pawn

14.8

Hospital/medical care/nursing

15.5

Customer service/pre-sales and after-sales support

16.0

The top ten occupations with the most job applications in the third quarter of 2017 were almost the same as in the second quarter of 2017.

Top ten occupations with the most job applications in the third quarter of 2017

Ranking

Occupation

1

Software/internet development/system integration

2

Finance/auditing/tax

3

Administration/logistics/secretary

4

Human resources

5

Civil engineering/construction/decoration/municipal engineering

6

Sales

7

Sales management

8

Internet product/operation management

9

Art/design

10

Marketing

About Zhaopin Limited

Zhaopin is a leading career platform in China, focusing on connecting users with relevant job opportunities throughout their career lifecycle. The Company's zhaopin.com website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended June 30, 2017, number of registered users as of June 30, 2017 and number of unique customers[3] for the three months ended June 30, 2017. The Company's over 140.0 million registered users include diverse and educated job seekers who are at various stages of their careers and are in demand by employers as a result of the general shortage of skilled and educated workers in China. In the fiscal year ended June 30, 2017, approximately 49.3 million job postings[4] were placed on Zhaopin's platform by 613,083 unique customers including multinational corporations, small and medium-sized enterprises and state-owned entities. The quality and quantity of Zhaopin's users and the resumes in the Company's database attract an increasing number of customers. This in turn leads to more users turning to Zhaopin as their primary recruitment and career- related services provider, creating strong network effects and significant entry barriers for potential competitors. For more information, please visit http://www.zhaopin.com.

For more information, please contact:

ICR Beijing
Mr. Edmond Lococo
Phone: +86 10 6583-7510
[email protected]

[1] This announcement may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "will," "should," "may," "believes," "expects" or similar expressions. All of such assumptions are inherently subject to uncertainties and contingencies beyond the Company's control. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

[2] Zhaopin's website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended June 30, 2017, the number of registered users as of June 30, 2017 and the number of unique customers for the three months ended June 30, 2017.

[3] A "unique customer" refers to a customer that purchases the Company's online recruitment services during a specified period. Zhaopin makes adjustments for multiple purchases by the same customer to avoid double counting. Each customer is assigned a unique identification number in the Company's information management system. Affiliates and branches of a given customer may, under certain circumstances, be counted as separate unique customers.
[4] Zhaopin calculates the number of job postings by counting the number of newly placed job postings during each respective period. Job po

View original content:http://www.prnewswire.com/news-releases/china-white-collar-average-salary-went-up-in-the-third-quarter-of-2017-1-300539661.html

Zhaopin Limited Announces Completion of Going Private Transaction

BEIJING, Sept. 29, 2017 /PRNewswire/ -- Zhaopin Limited (ZPIN) ("Zhaopin" or the "Company"), a leading career platform[1] in China focused on connecting users with relevant job opportunities through their career lifecycle, today announced the completion of its merger (the "Merger") with Zebra Mergerco, Ltd. ("Merger Company"), pursuant to the previously announced agreement and plan of merger (the "Merger Agreement"), dated April 6, 2017, among the Company, SEEK International Investments Pty Ltd. ("Parent") and Merger Company. As a result of the Merger, Parent together with affiliates of Hillhouse Capital Management, Ltd. and FountainVest Partners acquired the Company and the Company ceased to be a publicly traded company thereafter.

As previously announced, on June 19, 2017, the Company declared the final amount of a cash special dividend (the "Special Dividend") of US$0.94 per ordinary share of the Company (each a "Share"), corresponding to US$1.88 per American depositary share of the Company (each, an "ADS") (each representing two Shares) as contemplated under and determined in accordance with the terms of the Merger Agreement, payable to holders of record of issued and outstanding Shares and ADSs as of immediately prior to the effective time of the Merger (the "Effective Time"), subject to and conditioned upon the consummation of the Merger. The Special Dividend will be paid by the Company as soon as practicable and no later than three business days (as such term is defined in the Merger Agreement) following the Effective Time.

In addition, under the terms of the Merger Agreement, which has been approved by the Company's shareholders at an extraordinary general meeting held on September 25, 2017, other than certain of the Company's ordinary shares described below, each Share that was issued and outstanding immediately prior to the Effective Time of the Merger has been cancelled and converted into and exchanged for the right to receive US$8.16 (which represents US$9.10 per Share minus the US$0.94 per Share amount of the Special Dividend) (such amount, the "Per Share Merger Consideration"), and each ADS, together with the two Shares underlying each such ADS, has been cancelled in exchange for US$16.32 (which amount represents US$18.20 per ADS minus the US$1.88 per ADS amount of the Special Dividend) (such amount, the ''Per ADS Merger Consideration'') to be paid, net of the cancellation fee of US$0.05 per ADS, pursuant to the terms of the Deposit Agreement, dated as of June 11, 2014, among the Company, JPMorgan Chase Bank, N.A., in its capacity as the ADS depositary (the "ADS Depositary"), and the holders and beneficial owners of ADSs issued thereunder, in each case, in cash, without interest and net of any applicable withholding taxes.

The US$8.16 Per Share Merger Consideration, together with the US$0.94 per Share amount of the Special Dividend, will result in holder of Shares immediately prior to the Effective Time being entitled to receive a total of US$9.10 in cash per Share, and the US$16.32 Per ADS Merger Consideration, together with the US$1.88 per ADS amount of the Special Dividend, will result in holder of ADSs immediately prior to the Effective Time being entitled to receive a total of US$18.20 in cash per ADS, in each case in connection with the Merger.

Notwithstanding the foregoing, the following Shares (including Shares represented by ADSs) were not converted into or exchanged for the right to receive the Per Share Merger Consideration or the Per ADS Merger Consideration described in the immediately preceding paragraphs:

(a) 54,503,586 Shares held by Parent immediately prior to the Effective Time, which are deemed "Continuing Shares" pursuant to the terms of the Merger Agreement, which do not entitle Parent to payment of the Per Share Merger Consideration or the Per ADS Merger Consideration in respect therefor (but entitle Parent to payment of the Special Dividend in respect therefor), and were not cancelled and instead continue to exist without interruption, and each represents one validly issued, fully paid and non-assessable Class B ordinary share of the surviving company,

(b) ordinary shares (including Class A ordinary shares represented by ADSs) held by the Company or its subsidiaries and the ADS Depositary and reserved for issuance pursuant to the Company's share incentive plans immediately prior to the Effective Time have been cancelled and ceased to exist without payment of any consideration or distribution (including the right to receive the Special Dividend) therefor, and

(c) ordinary shares held by holders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Merger pursuant to Section 238 of the Cayman Islands Companies Law Cap. 22 (Law 3 of 1961, as consolidated and revised) have been cancelled at the Effective Time for the right to receive the fair value of such Shares determined in accordance with the provisions of Section 238 of the Cayman Islands Companies Law.

Shareholders of record as of immediately prior to the Effective Time who are entitled to the Per Share Merger Consideration will receive a letter of transmittal and instructions on how to surrender their Share certificates in exchange for the merger consideration. Shareholders should wait to receive the letter of transmittal before surrendering their ordinary share certificates.  The Special Dividend will be paid to shareholders of record as of immediately prior to the Effective Time pursuant to the Company's memorandum and articles of association, applicable law and the Merger Agreement.

ADS holders of record as of immediately prior to the Effective Time who are entitled to the merger consideration and the Special Dividend will automatically receive from the ADS Depositary, per each such ADS held by them, US$16.32 (less an ADS cancellation fee of US$0.05 per ADS) as the Per ADS Merger Consideration and US$1.88 as the per ADS amount of the Special Dividend, in cash, without interest and net of any applicable withholding taxes, in exchange for the cancellation of such ADSs. Payment of the net per ADS Merger Consideration and Special Dividend will be made to such ADS holders as soon as practicable after the ADS Depositary receives the merger consideration and Special Dividend. ADS holders which hold their ADSs in "street name" through their broker, bank or other nominee will not be required to take any action to receive the net Per ADS Merger Consideration and Special Dividend for their ADSs as the ADS Depositary will arrange for the surrender of such ADSs and the remittance of the net Per ADS Merger Consideration and Special Dividend with The Depository Trust Company (the clearance and settlement system for the ADSs) for distribution to the applicable broker, bank or nominee on behalf of such beneficial owners. Any questions concerning the receipt of the Per ADS Merger Consideration and Special Dividend from holders who hold ADSs in "street name" should be directed by such holders to their applicable broker, bank or nominee.

The Company also announced today that it requested that trading of its ADSs on the New York Stock Exchange (the "NYSE") be suspended. The Company requested that the NYSE file a Form 25 with the Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of its ADSs on the NYSE and the deregistration of the Company's registered securities. The deregistration will become effective 90 days after the filing of the Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC in approximately ten days. The Company's obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

About Zhaopin Limited

Zhaopin is a leading career platform in China, focusing on connecting users with relevant job opportunities throughout their career lifecycle. The Company's zhaopin.com website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended June 30, 2017, number of registered users as of June 30, 2017 and number of unique customers[2] for the three months ended June 30, 2017. The Company's over 140.0 million registered users include diverse and educated job seekers who are at various stages of their careers and are in demand by employers as a result of the general shortage of skilled and educated workers in China. In the fiscal year ended June 30, 2017, approximately 49.3 million job postings[3] were placed on Zhaopin's platform by 613,083 unique customers including multinational corporations, small and medium-sized enterprises and state-owned entities. The quality and quantity of Zhaopin's users and the resumes in the Company's database attract an increasing number of customers. This in turn leads to more users turning to Zhaopin as their primary recruitment and career- related services provider, creating strong network effects and significant entry barriers for potential competitors. For more information, please visit http://www.zhaopin.com.

Safe Harbor Statements

This announcement may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "will," "should," "may," "believes," "expects" or similar expressions. All of such assumptions are inherently subject to uncertainties and contingencies beyond the Company's control. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

[1] Zhaopin's website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended June 30, 2017, the number of registered users as of June 30, 2017 and the number of unique customers for the three months ended June 30, 2017.

[2] A "unique customer" refers to a customer that purchases the Company's online recruitment services during a specified period. Zhaopin makes adjustments for multiple purchases by the same customer to avoid double counting. Each customer is assigned a unique identification number in the Company's information management system. Affiliates and branches of a given customer may, under certain circumstances, be counted as separate unique customers.

[3] Zhaopin calculates the number of job postings by counting the number of newly placed job postings during each respective period. Job postings that were placed prior to a specified period - even if available during such period - are not counted as job postings for such period. Any particular job posting placed on the Company's website may include more than one job opening or position.

For more information, please contact:

Zhaopin Limited
Ms. Daisy Wang
Investor Relations 
 (86-10) 5863 5888 ext. 68346
[email protected]

View original content:http://www.prnewswire.com/news-releases/zhaopin-limited-announces-completion-of-going-private-transaction-300528423.html

Zhaopin Limited Announces Shareholders' Approval of Merger Agreement

BEIJING, Sept. 25, 2017 /PRNewswire/ -- Zhaopin Limited (ZPIN) ("Zhaopin" or the "Company"), a leading career platform[1] in China focused on connecting users with relevant job opportunities through their career lifecycle, today announced that, at an extraordinary general meeting of shareholders held today, the Company's shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement") dated April 6, 2017, among the Company, SEEK International Investments Pty Ltd. ("Parent") and Zebra Mergerco, Ltd. ("Merger Company"), pursuant to which Merger Company will be merged with and into the Company with the Company continuing as the surviving company (the "Merger"), the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") and the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger.

Approximately 94.0% voting rights of the Company entitled to vote at the extraordinary general meeting were voted in person or by proxy at today's extraordinary general meeting. Of those voting rights, approximately 98.0% were voted in favor of the proposal to authorize and approve the Merger Agreement, the Plan of Merger and any and all transactions contemplated by the Merger Agreement, including the Merger. A two-thirds majority of the voting power represented by the ordinary shares of the Company present and voting in person or by proxy at the extraordinary general meeting was required for approving the Merger.

The parties currently expect to complete the Merger as soon as practicable, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. If and when completed, the Merger will result in the Company becoming a privately-held company and its ADSs will no longer be listed on the New York Stock Exchange. In addition, the ADSs and the Company's Class A ordinary shares represented by the ADSs will cease to be registered under Section 12 of the Securities Exchange Act of 1934.

About Zhaopin Limited

Zhaopin is a leading career platform in China, focusing on connecting users with relevant job opportunities throughout their career lifecycle. The Company's zhaopin.com website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended June 30, 2017, number of registered users as of June 30, 2017 and number of unique customers[2] for the three months ended June 30, 2017. The Company's over 140.0 million registered users include diverse and educated job seekers who are at various stages of their careers and are in demand by employers as a result of the general shortage of skilled and educated workers in China. In the fiscal year ended June 30, 2017, approximately 49.3 million job postings[3] were placed on Zhaopin's platform by 613,083 unique customers including multinational corporations, small and medium-sized enterprises and state-owned entities. The quality and quantity of Zhaopin's users and the resumes in the Company's database attract an increasing number of customers. This in turn leads to more users turning to Zhaopin as their primary recruitment and career- related services provider, creating strong network effects and significant entry barriers for potential competitors. For more information, please visit http://www.zhaopin.com.

Safe Harbor Statements

This news release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These forward-looking statements can be identified by terminology such as "if," "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the expected timing of the completion of the Merger; the parties' ability to complete the Merger considering the various closing conditions, including any conditions related to regulatory approvals; the possibility that various closing conditions to the Merger may not be satisfied or waived and other risks and uncertainties discussed in the Company's filings with the U.S. Securities and Exchange Commission, as well as the Schedule 13E-3 transaction statement and the proxy statement filed by the Company in connection with the Merger. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

[1] Zhaopin's website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended June 30, 2017, the number of registered users as of June 30, 2017 and the number of unique customers for the three months ended June 30, 2017.

[2] A "unique customer" refers to a customer that purchases the Company's online recruitment services during a specified period. Zhaopin makes adjustments for multiple purchases by the same customer to avoid double counting. Each customer is assigned a unique identification number in the Company's information management system. Affiliates and branches of a given customer may, under certain circumstances, be counted as separate unique customers.

[3] Zhaopin calculates the number of job postings by counting the number of newly placed job postings during each respective period. Job postings that were placed prior to a specified period - even if available during such period - are not counted as job postings for such period. Any particular job posting placed on the Company's website may include more than one job opening or position.

For more information, please contact:

Zhaopin Limited
Ms. Daisy Wang
Investor Relations 
 (86-10) 5863 5888 ext. 68346
[email protected]

View original content:http://www.prnewswire.com/news-releases/zhaopin-limited-announces-shareholders-approval-of-merger-agreement-300524881.html

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