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Corporation
INTERNET | Internet Software & Services / HR & Workforce Management
zhaopin.com

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Founded Year

1994

Stage

Private Equity | Alive

Total Raised

$136.19M

Revenue

$0000 

About Zhaopin

Zhaopin is a professional HR service provider in China. With the proper HR licenses granted by the government, Zhaopin can provide all-in-one HR services to large companies, as well as fast-growing small and medium-sized enterprises. These services include online recruiting, newspaper recruiting, headhunting, campus recruiting, HR outsourcing, corporate training, and staff assessment.

Zhaopin Headquarter Location

Building A4 Huitong Office Park No. 71 Jianguo Road District

Beijing, Beijing, 100025,

China

86-10-5863-5888

Latest Zhaopin News

SEEK (ASX:SEK) share price jumps 7% to record high on trading update

May 4, 2021

Image source: Getty Images The SEEK Limited (ASX: SEK) share price has been on form on Tuesday. In morning trade, the job listings giant’s shares jumped 7% to a record high of $32.91. At the time of writing, the SEEK share price has eased back, but remains 3% higher at $31.62. Why is the SEEK share price charging higher? The catalyst for the strong rise by the SEEK share price today was the release of a market update this morning. That update provided investors with details relating to its Zhaopin divestment, its dividend, and its guidance for FY 2021. In respect to the former, SEEK announced that all conditions precedent to completion of the Zhaopin transaction have been satisfied. As a result, it will now reduce its holding in Zhaopin from 61.1% to 23.5%. Approximately A$500 million of the total anticipated gross proceeds of A$697 million were received in April. Dividend update The SEEK board has decided to return some of the funds raised from the Zhaopin transaction to shareholders. According to the release, it has determined to pay a dividend of 20 cents per share with a record date of 11 May and a payment date of 24 May. Post receipt of funds from the transaction and including payment of the dividend, SEEK notes that it is operating well within its original pre-existing borrower group covenant limits. This has enabled it to end its temporary arrangement which allowed an increase in key covenant limits through to 30 June 2021. FY 2021 guidance Management notes that its results for the nine months ended 31 March and its outlook for the remainder of the year are ahead of previous expectations. This has been driven by the outperformance of its SEEK ANZ (primarily SMEs) and SEEK Asia businesses. As a result, it now expects FY 2021 revenue to be in the order of $1,740 million and EBITDA to be ~$510 million. This compares to previous guidance of $1,700 million and $510 million, respectively. On the bottom line, reported net profit after tax is expected to be in the order of $150 million, up from $100 million previously. SEEK’s Founder and CEO, Andrew Bassat, said: “Completion of the Zhaopin transaction and receipt of funds is an important milestone. A portion of the Zhaopin proceeds will be returned to shareholders as a dividend, which reflects our confidence in SEEK’s outlook and ongoing cash generation. Post the dividend, SEEK will still have significant balance sheet flexibility for ongoing re-investment and future dividends.” “We are pleased to upgrade our FY21 guidance. Our willingness to invest through the cycle has meant our key businesses, in particular SEEK ANZ and SEEK Asia are now capitalising on improving macro conditions. Of note, SEEK ANZ continues to benefit from record high levels of SME hiring activity and increasing usage of our depth products. We look forward to providing another update at SEEK’s full year results in August,” he concluded. Where to invest $1,000 right now When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more. * Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now. These stocks could rocket in a Post-COVID world In this FREE STOCK REPORT, Scott Phillips just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. By clicking this button, you agree to our Terms of Service and Privacy Policy . We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe at anytime. Please refer to our Financial Services Guide (FSG) for more information. Browse Articles by Category

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