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

Zhaopin Announces 2017 Top 100 Employers in China

BEIJING, Sept. 17, 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, announced the Top 100 companies nominated for "China Best Employer Award 2017".

Among this year's Top 100 Employers, 25% were from IT/telecom/electronics/internet sector, 20% from manufacturing/processing sector and 18% from trade/wholesale/retail/leasing sector. The Top 100 Employers were selected from 17,554 nominated companies, representing an increase of 80% from last year. More than 24.3 million online votes were cast by employees nationwide, which was six times of last year's total votes.

The "China Best Employer Award" was launched by Zhaopin in 2005, and has become the most influential and prestigious employer brand event for both China-based and multinational companies. The "Oscar" of the human resources industry in China, the award is both a valuable reference for job seekers, and an important way for local and international employers to measure themselves and their work environment against the best in the industry.

"The employment relationship in China has undergone profound changes with the transformation of China's economy," said Mr. Evan Guo, Chief Executive Officer and Director of Zhaopin. "In 2015, we identified the trend and defined the 'new employer economy' in which equality and cooperation had replaced the old controlling relationship. This new employer economy has continued to evolve, driven by the digital revolution."

In China's labor market, digital natives have become the mainstream, with shared values of openness, freedom, equality, sharing, transparency and diversity.

"This year's Top 100 Employers have been adapting to the trend and are making efforts to build a new relationship between individuals and organizations," Guo added. "These companies have developed more efficient and flexible organizational structures to interact with and empower employees to drive win-win growth for both employees and employers."

In this year's nominations, 37% of candidate companies were from emerging first-tier cities. With the fast growth of emerging first-tier cities, companies in these cities were trying to attract more talents to improve competitiveness. Companies with fewer than 100 employees accounted for 41% of total nominations this year. These small companies were participating to learn from industry best practices, and to build up their brands.

Zhaopin also found that this year employees were less loyal to their employers and were changing their jobs more frequently. About 36% of employees had been with their current job for less than one year, and only 4% of employees had been working for the same company for over 10 years. It is still a great challenge for employers to attract and retain employees.

This year's award selection was based on professional evaluation by a jury committee and public online voting by employees and job seekers. The jury committee consists of academic professionals, employment specialists, senior media reporters and third-party consultants. The professional evaluation focused on employer image, management, salary and benefits, growth and training, work environment and company culture. A jury team of 1,000 HR professionals reviewed the nominations made by the public.

2017 Top 100 Employers in China

Zhaopin 2017 Top 100 Employers

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 press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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," "confident" and similar statements. Zhaopin may also make written or oral forward-looking statements in its reports filed with or furnished 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. Any statements that are not historical facts, including statements about Zhaopin's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Zhaopin's goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user and customer base for its online career platform; the growth of, and trends in, the markets for its services in China; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Zhaopin does not undertake any obligation to update such information, 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
[email protected]

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


View original content with multimedia:http://www.prnewswire.com/news-releases/zhaopin-announces-2017-top-100-employers-in-china-300520942.html

Zhaopin: China White Collar Career Confidence Drops Sharply in Fall

BEIJING, Sept. 11, 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, found in its 2017 fall survey that the confidence of white-collar workers in their career outlooks waned sharply, and that they were less likely to change jobs compared with this spring.

Zhaopin conducted its fall research and survey in August 2017 to gauge white-collar workers' confidence in their careers, their intentions to switch jobs and their sense of belonging to the cities where they live. More than 24,300 white collar workers participated in this nationwide survey.

Highlights of Zhaopin survey for fall 2017:

  • The confidence of white-collar workers in their career development dropped significantly to 2.99, compared with 3.95 in the spring. The confidence index is measured from 1 to 5, with 5 as the highest.
  • Only 32% of white-collar workers were confident or very confident in their career opportunities, plummeting from 69.7% this spring.
  • More than 60% of white-collar workers were taking actions to seek new jobs in the fall, down from nearly 80% in the spring.
  • The most important reason for job-hopping was still salary/welfare, with 59.3% of white-collar workers considering a change in jobs because of unsatisfactory pay and welfare packages.
  • White-collar workers had a strong sense of belonging to the cities in which they live. The index for sense of belonging was 3.42 out of 5 in the fall 2017.

Sharp decline in confidence

The confidence of white-collar workers in their career development dropped significantly to 2.99, compared with 3.95 this spring. The confidence index is measured from 1 to 5, with 5 as the highest. In fall 2017, only 32% of white-collar workers were confident or very confident in their career opportunities, plummeting from 69.7% in the spring. Meanwhile, 34.5% of white-collars had low or no confidence in their careers in the fall, compared with only 8.6% in spring 2017.

Confidence Index 2015 - 2017

Year

Index

Spring 2015

3.72

Fall 2015

2.21

Spring 2016

3.26

Fall 2016

3.07

Spring 2017

3.95

Fall 2017

2.99

Dongguan (3.27) enjoyed the highest confidence from white-collar workers in the fall of 2017, followed by Hangzhou (3.21), Suzhou (3.12) and Nanchang (3.10). Compared with the heavy pressures in first-tier cities, white-collars workers in emerging first-tier and some second-tier cities were more confident and enthusiastic in their careers.

Top 10 Cities in Confidence Index

Ranking

City

Index

1

Dongguan

3.27

2

Hangzhou

3.21

3

Suzhou

3.12

4

Nanchang

3.10

5

Beijing

3.06

6

Shenzhen

3.06

7

Harbin

3.05

8

Nanjing

3.04

9

Zhengzhou

3.04

10

Shenyang

3.03

In terms of work experience, the more experience, the more confident white-collar workers became. Those with over 10 years of experience had the highest confidence of 3.23, while those with less than one year of experience suffered the lowest confidence of 2.78.

Confidence Index by Work Experience

Experience

Index

Within 1 year

2.78

1-3 years

2.91

3-5 years

2.97

5-8 years

3.05

8-10 years

3.16

Over 10 years

3.23

A more cautious approach to switching jobs

With decreasing confidence, white-collar workers became more cautious in switching jobs in the fall. There were still more than 60% of white-collar workers taking actions to seek new jobs in the fall, but that was down from nearly 80% in the spring.

According to Zhaopin's survey, 13.7% of white-collar workers were in the process of quitting or onboarding in the fall, and 51% were looking for new opportunities with updated resumes. The other 31.7% of white collar workers indicated intentions to switch jobs without any action taken yet. Only 3.6% indicated that they would not consider job-hopping.

Job-hopping Intention

Intention/action

Percentage

In the process of quitting or onboarding

13.7%

Looking for new opportunities with updated resumes

51.0%

Having intention but no action yet

31.7%

No intention

3.6%

Guangzhou was the city with the highest percentage of job-hoppers (70.9%) in the fall 2017, followed by Wuhan (68.7%) and Shenzhen (68.6%).

Top 10 Cities with Job-hopping Actions

Ranking

City

Percentage of Taking Actions

1

Guangzhou

70.9%

2

Wuhan

68.7%

3

Shenzhen

68.6%

4

Xi'an

68.5%

5

Urumqi

68.4%

6

Dongguan

68.2%

7

Shanghai

66.9%

8

Beijing

66.5%

9

Chengdu

66.2%

10

Nanchang

66.1%

The most important reason for job-hopping was salary/welfare, according to the survey, with 59.3% of white-collar workers considering a change in jobs because of unsatisfactory pay and welfare packages. Also, 44% wanted to quit their jobs due to the uncertain prospects of their companies. Promotion limits and imbalance of work and life were also key concerns for white collars to jump ship.

Reasons for Job-hopping

Reason

Percentage

Salary/welfare

59.3%

Uncertain prospects of companies

44.0%

Promotion limits

36.2%

Imbalance of work and life

23.9%

Superior-subordinate/co-workers relationship

19.9%

Not interested in current work

18.8%

Better opportunities

8.9%

Hoping to move to another city

8.3%

Others

8.5%

The fall survey found that 50.2% of white-collar workers would join start-up companies when they considered different job-hopping opportunities and 27.8% would not consider start-ups. Instability and high risk was the top reason that deterred white-collars from joining start-up companies.

Reasons for Not Choosing Start-ups

Reason

Percentage

Instability and high risk of start-ups

64.9%

Need to accumulate more experience before joining start-ups

40.3%

Limited resources at start-ups for capability improvement

27.1%

Too much pressures at start-ups

21.5%

Others

10.5%

Strong sense of belonging

Zhaopin's survey found that white-collar workers had a strong sense of belonging to the cities in which they live. The index for sense of belonging was 3.42 in the fall 2017. The belonging index is measured from 1 to 5, with 5 as the highest.

Chongqing (3.78) enjoyed the strongest sense of belonging from white-collar workers, followed by Changsha (3.74) and Shenyang (3.73). None of the four first-tier cities edged into the top 10 for sense of belonging because of their fast pace of living, high costs and competitive pressures.

Top 10 Cities for Sense of Belonging

Ranking

City

Index

1

Chongqing

3.78

2

Changsha

3.74

3

Shenyang

3.73

4

Tianjin

3.71

5

Shijiazhuang

3.66

6

Chengdu

3.64

7

Guiyang

3.64

8

Changchun

3.63

9

Nanjing

3.62

10

Taiyuan

3.61

The biggest contributor for sense of belonging was "good medical facilities" (57.6%) in their city, Zhaopin's survey found. Other key reasons included "parents, relatives and friends living in the same city" (48.5%), and "convenient living" (35.6%).

Reasons for Sense of Belonging

Reason

Percentage

Good medical facilities

57.6%

Parents, relatives and friends living in the same city

48.5%

Convenient living

35.6%

More opportunities with space to grow

33.1%

Used to life in the city

6.2%

The top reason for lacking a sense of belonging was "still renting without own apartment" (52.8%), followed by "high living cost and pressure" (50.2%) and "lack of significant other" (33.6%), according to Zhaopin's survey.

Reasons for Lacking a Sense of Belonging

Reason

Percentage

Still renting without own apartment

52.8%

High living cost and pressure

50.2%

Lack of significant other

33.6%

Not living with parents

33.3%

Could not adapt to local culture and environment

19.2%

Without hukou, children could not go to school

11.2%

Zhaopin's survey found that 37.4% of white-collar workers would move back to their hometowns when there's an opportunity, 23.2% already live in their hometowns and 25.1% would not go back to their hometowns.

The key reasons for willingness to return to hometowns were to be "close to parents" (78.2%), "enjoying life without much pressure" (31.1%) and "better environment" (29.7%)

Reasons for Returning to Hometowns

Reason

Percentage

Close to parents

78.2%

Enjoying life without much pressure

31.1%

Better environment

29.7%

Children could go to school

22.6%

"Used to current life and do not want to start all over again" (47.1%) was the top reason for not being willing to go back to one's hometown. "Don't want to give up current job" (40.2%) and "enjoy current convenient life" (37.9%) were also reasons that kept white-collar workers from going home.

Reasons for Not Returning to Hometowns

Reason

Percentage

Already get used to current life and do not want to start all over again

47.1%

Don't want to give up current job

40.2%

Enjoy current convenient life

37.9%

Enjoy current cultural environment

22.8%

Relatives and friends already left hometown

18.1%

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 press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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," "confident" and similar statements. Zhaopin may also make written or oral forward-looking statements in its reports filed with or furnished 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. Any statements that are not historical facts, including statements about Zhaopin's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Zhaopin's goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user and customer base for its online career platform; the growth of, and trends in, the markets for its services in China; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Zhaopin does not undertake any obligation to update such information, 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
[email protected]

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

View original content:http://www.prnewswire.com/news-releases/zhaopin-china-white-collar-career-confidence-drops-sharply-in-fall-300516912.html

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