Author：Summer

Source：GPLP

On March 17, 51Job (JOBS.NASDAQ) released the unaudited financial statements for the fourth quarter and the entire fiscal year of 2019 as of December 31.

According to the report, the total revenue of 51Job in the fourth quarter was 1.136 billion yuan, up 1.3% from 1.121 billion yuan in the same period of 2018; The Net Income was 250 million yuan, down 71.0% from 856 million yuan in 2018.

Moreover, the total revenue in 2019 was 4 billion yuan, an increase of 5.8% over 2018; the Net Income was 532.2 million yuan, while its Net Income in 2018 was 1.252.3 billion yuan, a decrease of 57.49% over the same period last year.

The revenue of 51Job mainly comes from online recruitment services and other human resource services. According to the financial report, the estimated number of independent employers using 51Job online recruitment service in the fourth quarter of fy19f decreased by 13.1% to 298462 compared with 343405 in the same period of 2018, mainly due to the decrease in recruitment demand or the employers’ unwillingness to take action.

In fact, due to the public health and safety impact, the overall situation of the recruitment industry is not optimistic. According to the survey of Zhaopin, After the Spring Festival, the number of recruitment positions of enterprises in the first week of returning to work has decreased by 71.66%, compared with the same period in 2018.

In addition, 51Job expects revenue in the first quarter of 2020 will between 725 million yuan and 775 million yuan, down 15% to 20% from 912 million yuan in the same period of 2019.