ZHAOPIN LTD (ADR) BEIJING, July 17, 2017 /PRNewswire/ -- Zhaopin Limited (NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career platform([1]) in China focused on connecting users with relevant job opportunities throughout their career lifecycle, released its 2017 second-quarter report on China labor market supply and demand for white-collar workers. As the competition for jobs eased in the second quarter, the average monthly salary dropped by 3.8% over the previous quarter, the first quarter-over-quarter decline in two years.
Second-Quarter of 2017 China White-Collar Labor Market Highlights:
-- The average monthly salary dropped to RMB7,376 in the second quarter of
2017, down 3.8% over the first quarter. This was the first salary
decline in China since the second quarter of 2015.
-- The falling average salary for white-collar workers was mainly caused by
the plunge in salaries at micro-sized companies, which cut their
salaries by 31% in the second quarter of 2017.
-- Beijing continued to be the city with the highest pay in the second
quarter of 2017, with an average monthly salary of RMB9,791,
representing a drop of RMB151 from the first quarter.
-- Competition among white-collar workers for jobs eased in the second
quarter of 2017, with an average of 35.8 applications per job vacancy,
down from 44.6 applications in the first quarter.
-- Telecommunication/carrier operators/value-added service replaced online
games as the most competitive sector for job seekers in the second
quarter of 2017, with 57.3 applications per vacancy.
-- The most competitive occupation in the second quarter of 2017 was
software/internet development/system integration with 122.7 applications
per vacancy.
Declining Salaries
Based on online job postings in 37 key cities in China compiled by Zhaopin, the average monthly salary in the second quarter of 2017 was RMB7,376, down 3.8% over the first quarter. This was the first time that the average monthly salary declined quarter-over-quarter since the second quarter of 2015 when Zhaopin began to calculate the nationwide average salary for white-collar workers.
The falling average salary for white-collar workers was mainly caused by the plunge in salaries at micro-sized companies, which cut their salaries by 31% in the second quarter. With investment waning, many small start-ups became more rational and could no longer offer higher salaries to attract talents. An additional factor contributing to the overall decline in salaries in the second quarter of 2017 was that more jobs were located in lower-tier cities, where pay is normally lower.
Average monthly salary for white-collar workers
-----------------------------------------------
Quarter Average salary Change over
(RMB) previous quarter
--- ---- ----------------
Q2 2016 7,233 3.1%
------- ----- ---
Q3 2016 7,531 4.1%
------- ----- ---
Q4 2016 7,606 1.0%
------- ----- ---
Q1 2017 7,665 0.8%
------- ----- ---
Q2 2017 7,376 - 3.8%
------- ----- -----
Among job postings in the second quarter of 2017, 32.8% of positions offered monthly salaries between RMB4,001 and 6,000, and 25.9% offered monthly salaries of more than RMB8,000. About 20.3% of positions offered monthly salaries between RMB2,001 and 4,000.
Breakdown of positions by monthly salaries in the
second quarter of 2017
-------------------------------------------------
Salary (RMB) Percentage of positions
----------- -----------------------
Over 8,000 25.9%
---------- ----
6,001 to 8,000 19.8%
-------------- ----
4,001 to 6,000 32.8%
-------------- ----
2,001 to 4,000 20.3%
-------------- ----
Below 2,000 1.1%
----------- ---
Beijing continued to be the city with the highest pay in the second quarter of 2017, with an average monthly salary of RMB9,791, representing a drop of RMB151 from the first quarter. The average monthly salary also declined slightly in Shanghai and Shenzhen in the second quarter. The salary in Hangzhou actually went up to RMB7,933, jumping to the 4(th) in ranking.
Average monthly salary for cities in the second quarter of 2017
---------------------------------------------------------------
Ranking City Average Ranking City Average
monthly salary (RMB) monthly salary
(RMB)
--- ----
1 Beijing 9,791 20 Changsha 6,721
--- ------- ----- --- -------- -----
2 Shanghai 9,337 21 Wuxi 6,704
--- -------- ----- --- ---- -----
3 Shenzhen 8,866 22 Lanzhou 6,638
--- -------- ----- --- ------- -----
4 Hangzhou 7,933 23 Kunming 6,592
--- -------- ----- --- ------- -----
5 Guangzhou 7,754 24 Nanchang 6,538
--- --------- ----- --- -------- -----
6 Dongguan 7,552 25 Hefei 6,516
--- -------- ----- --- ----- -----
7 Ningbo 7,423 26 Tianjin 6,477
--- ------ ----- --- ------- -----
8 Nanjing 7,263 27 Zhengzhou 6,448
--- ------- ----- --- --------- -----
9 Urumqi 7,230 28 Jinan 6,447
--- ------ ----- --- ----- -----
10 Xiamen 7,206 29 Qingdao 6,343
--- ------ ----- --- ------- -----
11 Suzhou 7,198 30 Dalian 6,213
--- ------ ----- --- ------ -----
12 Foshan 7,152 31 Xi'an 6,089
--- ------ ----- --- ----- -----
13 Haikou 7,145 32 Shijiazhuang 6,027
--- ------ ----- --- ------------ -----
14 Chongqing 6,978 33 Taiyuan 5,959
--- --------- ----- --- ------- -----
15 Guiyang 6,918 34 Changchun 5,871
--- ------- ----- --- --------- -----
16 Nanning 6,908 35 Yantai 5,868
--- ------- ----- --- ------ -----
17 Chengdu 6,850 36 Shenyang 5,810
--- ------- ----- --- -------- -----
18 Fuzhou 6,785 37 Harbin 5,701
--- ------ ----- --- ------ -----
19 Wuhan 6,762
--- ----- -----
The best-paying sector in the second quarter of 2017 continued to be professional services/consulting (finance and accounting, legal and Human Resources, etc.) with an average monthly salary of RMB10,165, followed by RMB9,475 for funds/securities/futures/investment and RMB9,159 for intermediary services.
Top 10 highest paid sectors in the second quarter of 2017
---------------------------------------------------------
Sector Average monthly
salary (RMB)
--- -----------
Professional service/consulting (finance and accounting, legal
and HR, etc.) 10,165
-------------------------------------------------------------- ------
Funds/securities/futures/investment 9,475
----------------------------------- -----
Intermediary service 9,159
-------------------- -----
Cross-industry operation 8,832
------------------------ -----
Banking 8,578
------- -----
Trust/warrant/auction/pawn 8,339
-------------------------- -----
Real estate/construction/building materials/engineering 8,305
------------------------------------------------------- -----
Insurance 8,246
--------- -----
Telecom/carrier operators/value-added service 8,143
--------------------------------------------- -----
Energy/mineral/mining/smelting 7,934
------------------------------ -----
The top three occupations with the highest monthly salaries in the second quarter of 2017 were senior management (RMB18,818), IT management/project coordination (RMB13,915) and securities/futures/investment management/service (RMB11,546).
Top 10 highest paid occupations in the second quarter of 2017
-------------------------------------------------------------
Occupation Average monthly
salary (RMB)
--- -----------
Senior management 18,818
----------------- ------
IT management/project coordination 13,915
---------------------------------- ------
Securities/futures/investment management/
service 11,546
----------------------------------------- ------
Sales management 10,455
---------------- ------
Civil servant/public institution/research
institution 10,168
----------------------------------------- ------
Real estate development/broker/agency 9,979
------------------------------------- -----
Banking 9,665
------- -----
Software/internet development/system
integration 9,559
------------------------------------ -----
Trust/warrant/auction/pawn 9,361
-------------------------- -----
Project management/project coordination 9,348
--------------------------------------- -----
Wholly foreign-owned enterprises offered the highest average monthly salary of RMB8,064 in the second quarter, followed by RMB8,025 for public companies and RMB7,903 for joint ventures.
Average monthly salaries from different types of
companies
in the second quarter of 2017
-----------------------------
Type of Company Average monthly
salary (RMB)
--- -----------
Wholly foreign-owned
enterprises 8,064
-------------------- -----
Public companies 8,025
---------------- -----
Joint ventures 7,903
-------------- -----
State-owned enterprises 7,662
----------------------- -----
Private companies 7,118
----------------- -----
Public institutions 7,109
------------------- -----
The average monthly salary of micro-sized companies with fewer than 20 employees plunged from RMB9,532 in the first quarter to RMB6,568 in the second quarter. With investment waning, many start-ups could no longer afford to offer higher salaries as before to attract talents.
Average monthly salaries for companies of different
sizes
in the second quarter of 2017
-----------------------------
Size of company by Average monthly salary
(RMB)
employee numbers
---------------- ----------------
Below 20 6,568
-------- -----
20-99 7,014
----- -----
100-499 7,217
------- -----
500-999 7,651
------- -----
1,000-9,999 8,098
----------- -----
Above 10,000 8,097
------------ -----
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 second quarter of 2017, the competitive index was 35.8, which means there were an average of 36 applications per job vacancy, down from 44.6 in the first quarter of 2017.
Compared with the previous four quarters, the job market competition for white-collar workers eased in the second quarter of 2017. With the aging demographic, the labor supply began to dwindle in China. Meanwhile, job seekers were more cautious and tended to submit fewer resumes than before.
Competitive index
-----------------
Quarter Competitive index
------- -----------------
Q2 2016 45.1
------- ----
Q3 2016 37.8
------- ----
Q4 2016 40.3
------- ----
Q1 2017 44.6
------- ----
Q2 2017 35.8
------- ----
(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 89.9 in the second quarter of 2017, down from 96.0 in the first quarter of 2017.
Competitive index for cities in the second quarter of 2017
----------------------------------------------------------
Ranking City Index Ranking City Index
------- ---- ----- ------- ---- -----
1 Beijing 89.9 20 Zhengzhou 20.6
--- ------- ---- --- --------- ----
2 Shenzhen 48.5 21 Lanzhou 20.5
--- -------- ---- --- ------- ----
3 Shanghai 42.7 22 Wuxi 19.0
--- -------- ---- --- ---- ----
4 Chengdu 42.4 23 Haikou 18.9
--- ------- ---- --- ------ ----
5 Shenyang 42.1 24 Shijiazhuang 18.8
--- -------- ---- --- ------------ ----
6 Dalian 36.3 25 Kunming 18.0
--- ------ ---- --- ------- ----
7 Xi'an 35.4 26 Guiyang 17.1
--- ----- ---- --- ------- ----
8 Tianjin 34.0 27 Hefei 16.6
--- ------- ---- --- ----- ----
9 Guangzhou 29.1 28 Jinan 16.1
--- --------- ---- --- ----- ----
10 Chongqing 28.1 29 Yantai 14.6
--- --------- ---- --- ------ ----
11 Changsha 26.9 30 Urumqi 14.5
--- -------- ---- --- ------ ----
12 Wuhan 26.8 31 Fuzhou 14.3
--- ----- ---- --- ------ ----
13 Harbin 26.8 32 Nanchang 13.0
--- ------ ---- --- -------- ----
14 Suzhou 26.7 33 Xiamen 12.4
--- ------ ---- --- ------ ----
15 Hangzhou 25.4 34 Dongguan 12.1
--- -------- ---- --- -------- ----
16 Nanjing 25.1 35 Foshan 11.4
--- ------- ---- --- ------ ----
17 Changchun 23.9 36 Nanning 10.9
--- --------- ---- --- ------- ----
18 Taiyuan 22.0 37 Ningbo 10.0
--- ------- ---- --- ------ ----
19 Qingdao 21.5
--- ------- ----
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 second quarter of 2017. Emerging first-tier cities, including Chengdu, Nanjing, Hangzhou, Tianjin 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 second quarter of 2017
-----------------------------
Ranking City
------- ----
1 Beijing
--- -------
2 Shanghai
--- --------
3 Shenzhen
--- --------
4 Guangzhou
--- ---------
5 Zhengzhou
--- ---------
6 Chengdu
--- -------
7 Nanjing
--- -------
8 Hangzhou
--- --------
9 Tianjin
--- -------
10 Xi'an
--- -----
The top ten cities with most job applications in the second quarter of 2017 were the same cities with the highest job demand, indicating that cities with high job demand were also attracting job seekers.
Top ten cities with most job applications
in the second quarter of 2017
-----------------------------
Ranking City
------- ----
1 Beijing
--- -------
2 Shanghai
--- --------
3 Shenzhen
--- --------
4 Chengdu
--- -------
5 Guangzhou
--- ---------
6 Xi'an
--- -----
7 Tianjin
--- -------
8 Hangzhou
--- --------
9 Zhengzhou
--- ---------
10 Nanjing
--- -------
In terms of employer size, companies with 1,000 to 9,999 employees were the most competitive for job seekers, with an index of 42.5, followed by 40.5 for companies with 500 to 999 employees. The competition for positions in small and micro-sized companies was relatively low due to low brand recognition.
Competitive index for different size companies
in the second quarter of 2017
-----------------------------
Size of Company by Index
employee numbers
---------------- ----------------
Below 20 26.2
-------- ----
20-99 31.4
----- ----
100-499 38.5
------- ----
500-999 40.5
------- ----
1,000-9,999 42.5
----------- ----
Over 10,000 35.1
----------- ----
Supply and demand by sector
In the second quarter of 2017, the internet/e-commerce sector still topped the list with the most job vacancies, followed by real estate/construction/building materials/engineering and education/training/college sectors. The booming of artificial intelligence created huge job demand in the internet/e-commerce sector.
Top ten sectors with the highest job demand in the second 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 Media/publishing/movie and TV/culture communications
--- ----------------------------------------------------
Telecommunication/carrier operators/value-added service replaced online games as the most competitive sector for job seekers in the second quarter of 2017, with 57.3 applications per vacancy. The competitive index for most sectors declined in the second quarter of 2017 from the previous quarter.
Top ten most competitive sectors in the second quarter of 2017
--------------------------------------------------------------
Ranking Sector Index Ranking in previous
quarter
------- ------ ----- -------------------
1 Telecom/carrier operators/value-added service 57.3 3
--- --------------------------------------------- ---- ---
2 Online games 53.4 1
--- ------------ ---- ---
3 Aviation/aerospace research and manufacturing 49.9 4
--- --------------------------------------------- ---- ---
4 IT services (system/data/maintenance) 47.8 5
--- ------------------------------------- ---- ---
5 Real estate/construction/building 47.4 2
materials/engineering
--- ---------------------
6 Cross-industry operation 45.1 8
--- ------------------------ ---- ---
7 Computer software 44.9 6
--- ----------------- ---- ---
8 Internet/e-commerce 42.7 7
--- ------------------- ---- ---
9 Computer hardware 42.1 14
--- ----------------- ---- ---
10 Government/public service/non-profit 41.7 10
--- ------------------------------------ ---- ---
Insurance continued to be the least competitive sector in the second quarter of 2017, with 15.5 applications per vacancy, followed by 19.4 for intermediary service and 22.1 for office supplies and equipment.
Least competitive sectors in the second quarter of 2017
-------------------------------------------------------
Sector Index
------ -----
Insurance 15.5
--------- ----
Intermediary service 19.4
-------------------- ----
Office supplies and equipment 22.1
----------------------------- ----
Printing/packaging/papermaking 23.4
------------------------------ ----
Home furnishing/interior design/decoration 25.5
------------------------------------------ ----
Outsourcing service 25.9
------------------- ----
Banking 26.5
------- ----
Processing and manufacturing (raw material processing/
mould) 26.7
------------------------------------------------------ ----
Hotel/restaurant 27.3
---------------- ----
Healthcare/nursing/beauty 27.3
------------------------- ----
The sectors with the most job applications in the second 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 second 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 IT services (system/data/maintenance)
--- -------------------------------------
6 Education/training/college
--- --------------------------
7 Professional service/consulting (finance and accounting, legal and HR, etc.)
--- ----------------------------------------------------------------------------
8 Media/publishing/movie and TV/culture communications
--- ----------------------------------------------------
9 FMCG (food, drinks, alcohol and tobacco, and chemicals for daily use)
--- --------------------------------------------------------------------
10 Trade/export and import
--- -----------------------
Supply and demand by occupation
The top occupations with the most vacancies for white collar workers in the second quarter of 2017 were almost the same as in the first quarter of 2017, including sales, administration/logistics/secretary, and software/internet development/system integration.
Top ten occupations with the highest job demand in the second 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 Marketing
--- ---------
The most competitive occupation in the second quarter of 2017 was software/internet development/system integration with 122.7 applications per vacancy, followed by 88.4 for IT quality management/testing/configuration management, and 67.4 for finance/auditing/tax.
Top 10 most competitive occupations in the second quarter of 2017
-----------------------------------------------------------------
Ranking Occupation Index Ranking in previous quarter
------- ---------- ----- ---------------------------
1 Software/internet development/system integration 122.7 1
--- ------------------------------------------------ ----- ---
2 IT quality management/testing/configuration management 88.4 4
--- ------------------------------------------------------ ---- ---
3 Finance/auditing/tax 67.4 2
--- -------------------- ---- ---
4 Transportation services 60.4 5
--- ----------------------- ---- ---
5 Senior management 58.2 6
--- ----------------- ---- ---
6 Human resources 53.6 7
--- --------------- ---- ---
7 Civil engineering/construction/decoration/municipal engineering 51.2 3
--- --------------------------------------------------------------- ---- ---
8 Administration/logistics/secretary 44.6 9
--- ---------------------------------- ---- ---
9 IT management/project coordination 42.6 14
--- ---------------------------------- ---- ---
10 Purchasing/trade 42.0 8
--- ---------------- ---- ---
The least competitive occupations in the second quarter of 2017 were healthcare/beauty/hairdressing/bodybuilding with 9.6 applications per vacancy, followed by 12.4 for community/residency/housekeeping, and 12.7 for insurance.
Least competitive occupations in the second quarter of 2017
-----------------------------------------------------------
Occupation Index
---------- -----
Healthcare/beauty/hairdressing/bodybuilding 9.6
------------------------------------------- ---
Community/residency/housekeeping 12.4
-------------------------------- ----
Insurance 12.7
--------- ----
Sales 12.9
----- ----
Cooking/catering/food R&D 14.4
------------------------- ----
Mechanic/operator 15.1
----------------- ----
Hospital/medical care/nursing 15.7
----------------------------- ----
Education/training 16.1
------------------ ----
Farming/forestry/animal husbandry/fishery 16.5
----------------------------------------- ----
Customer service/pre-sales and after-sales 18.3
support
-------
The top ten occupations with the most job applications in the second quarter of 2017 were the same as in the first quarter of 2017 with some changes in rankings.
Top ten occupations with the most job applications in the second 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 Internet product/operation management
--- -------------------------------------
8 Art/design
--- ----------
9 Sales management
--- ----------------
10 Purchasing/trade
--- ----------------
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 March 31, 2017, number of registered users as of March 31, 2017 and number of unique customers([2]) for the three months ended March 31, 2017. The Company's over 135.0 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, 2016, approximately 36.9 million job postings([3]) were placed on Zhaopin's platform by 509,813 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 March 31, 2017, the number of
registered users as of March 31,
2017 and the number of unique
customers for the three months ended
March 31, 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
ir@zhaopin.com.cn
ICR Beijing
Mr. Edmond Lococo
Phone: +86 10 6583-7510
Edmond.Lococo@icrinc.com
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SOURCE Zhaopin Limited
