JOBS - 51job reports weak margins for Q1
51job ([[JOBS]] -0.2%) reports Q1 revenue growth of 13.2% Y/Y to RMB895.2B.The Co. recognized a mark-to-market, non-cash loss of RMB13.3M in Q1 2021 compared with a gain of RMB9.9M in Q1 2020.Online recruitment services revenues decreased 0.3% Y/Y.Other human resource related revenues increased 43.3% Y/Y.Gross margin declined 380 bps to 64.1%, the increase in cost of services was primarily due to higher employee compensation expenses and staff additions.Adj. operating margin declined 2,140 bps to 4.8%.As of Mar. 31, 2021, cash and short-term investments totaled RMB10,359.3M compared with RMB10,761.9M as of Dec. 31, 2020.The Co. intends to purchase an office building in Shanghai (estimated to be about RMB2.07B) which will serve as its new corporate headquarters.Previously: 51job reports Q1 results (June 25)
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51job reports weak margins for Q1