Investor Relations
Presentation
Zhaopin Limited
August 20, 2014
0
This presentation 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 presentations 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 presentation is current as of
the date of the presentation, and Zhaopin does not undertake any obligation to update such information, except
as required under applicable law.
Safe Harbor Statement and Disclaimer
1
Executive Summary Page 3
Business Overview Page 4-5
Investment Highlights Page 6-10
Key Financials and Operational Metrics Page11-16
Growth Strategy Page17-19
Table of Contents
2
Executive Summary
FY14 Results Highlight
• Accelerated growth: total revenues ~19% yoy growth, net income
~20% yoy growth
• Solid profitability: gross margin at ~91%, net margin at ~18%
• Strong cash position: RMB1.5bn in cash, ~63% yoy growth
Key Drivers of Result
• Number of unique customers grew to 335,168 for FY14, representing
~30% yoy growth
• Continued penetration into low tier cities and expansion of SME base
• Market leadership in job seeker traffic (i.e. average daily unique
visitors)
Operational Update
• Opened 5 new sales offices in high growth Tier 2/3 cities
• Successful IPO in June 2014
• Acquisition of Jobs DB China Investments Ltd. and its affiliates
(“CJOL”) in June 2014 assisted in establishing a leadership position in
Shenzhen and southern China
Gross
Profit
+21% yoyTotal
Revenues
+19% yoyNet
Income
+20% yoy
3* Our consolidated results in FY13 and FY14 include the financial results of CJOL as if our acquisition of the company had taken place since the inception of common control of both
companies by SEEK Ltd..
Overview of Zhaopin’s business and marketplace
Zhaopin engages white-collar users through their career lifecycle
Enter and graduation from college
cdc.zhaopin.com
Change job
White collar
recruitment
Career advancement
www.highpin.cn
Skills and personality assessmentAssessment and
testing services
Continuous educationVocational learning
and training
Complementary service offerings across the entire life cycle of our users
Jobseekers EmployersBest search and
matching experience
Core onlinerecruitment platform
4
Zhaopin30%
Player 225%
Others45%
2.2 2.0
0.6
Zhaopin Player 2 Player 3
Zhaopin – China’s leading career platform
Source: iResearch Public Data, iResearch Survey
Note:
1) Simple average number of daily unique visitors each month in FY2014.
2) Average of monthly visits per user throughout FY2014.
3) According to iResearch Survey for CY2013.
4) As of June 30, 2014, including CJOL data.
5) For the fiscal year ended June 30, 2014., including CJOL data.
Zhaopin is a leading career platform in China which connects users with relevant job opportunities throughout their career lifecycle
Average daily unique visitors(1)
(in millions)
A large user and employer platform
Unique customers(5):
335,168Job postings(5):
18.1mn
Registered users(4):
89.5mnCompleted resumes(4):
66.5mn
Average monthly visits per user(2)
10.2
5.6
1.5
Zhaopin Player 2 Player 3
“Most frequently used job-search website in China” (3)
5
(frequency)
Source: Company data.
Key Investment Highlights
Nationwide sales and customer services network & large and diversified customer base
3
Evolving career platform exposed to a large and growing addressable market
1
Backed by a leading strategic investor and new IPO investors
4
Market leading career platform and highly recognized brand
2
6
74
104
151
2013 2017EZhaopin's (stand-alone) registered users
Number of online job seekers in China
Zhaopin is underpenetrated and exposed to a large, growing
market opportunity across job seekers and employers
Zhaopin registered users vs. China online job seekers Zhaopin unique employers vs. China online employers
1
(in millions) (in millions)
Source: Company data and iResearch Survey
Notes:
(1) # of online job seekers in China.
(2) # of online employers in China.
(3) Zhaopin‟s number of registered users as of December 31, 2013.(Zhaopin standalone data)
(4) Zhaopin‟s number of unique employers for the 12 months ended December 31, 2013. (Zhaopin standalone data)
Multiplier effect on the
number of placements as
a result of increase in job
changes per user
Under-penetrated and growing user(1)
base … …and employer base(2)
0.27
2.0
3.9
2013 2017E
Zhaopin's (stand-alone) number of unique customers
Number of online employers in China
(4)
Penetration
=71.3%
Penetration
=13.5%
(3)
7
Jul 2013 1st 2nd 7th
Aug 2013 1st 2nd 7th
Sep 2013 1st 2nd 7th
Oct 2013 1st 2nd 5th
Nov 2013 1st 2nd 5th
Dec 2013 1st 2nd 5th
Jan 2014 1st 2nd 6th
Feb 2014 1st 2nd 7th
Mar 2014 1st 2nd 8th
Apr 2014 1st 2nd 7th
May 2014 1st 2nd 7th
Jun 2014 1st 2nd 7th
Market leader focused on recruitment and career
related services
Players that focus exclusively on
recruitment and career-related services
High-end niche recruitment websites
Does not provide full suite of recruitment and
career-related services
Professional networking websites
Student-focused niche websites
General websites which offer recruitment as
part of their services
2
Source: iResearch Public Data.
0
500
1,000
1,500
2,000
2,500
3,000
Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13
Zhaopin 51 job China HR
Based on job seeker metrics, Zhaopin is consistently the
market leader focused on recruitment and career-related
services
Ranking by average daily unique visitors
8
Extensive nationwide network leading to a strong and
diversified customer base
Our nationwide sales footprint enables us to develop business relationships with customers in targeted local markets and
industry verticals
Cities with online coverage only
Cities with online and newspaper
City with online and centralized call center
Regions covered by centralized call center
Shanghai
Chongqing
Chengdu
Changsha
Wuhan
Xian
Fuzhou
Xiamen
ShenzhenGuangzhou
Hangzhou
SuzhouHefei
Zhengzhou
DalianShijiazhuang Tianjin
Beijing
JinanQingdao
ShenyangMore than 2,100
sales and account managementrepresentatives in 33 regional offices nationwide
Taiyuan
Haerbin
Nanjing
Kunming
Ningbo
Wuxi
ChangchunJilin
Nanchang
Guiyang
3
Real estate
Automotive
Consumer /
retail
Technology
Financial
services
9
Strong shareholder support from SEEK & other new
shareholders
SEEK is a global online employment business
Largest global online employment marketplace by earnings
and market cap
Operations in 14 countries
Strong growth track record (FY10 to FY14)
−Revenue CAGR = 34%
−EBITDA CAGR = 50%
Total shareholder returns (“TSR”) at c.7 times S&P/ASX
200(1) since SEEK’s IPO in April 2005
Source: Seek public filings, Seek website, CIA world Factbook and Internet World Stats
Note:
1) Total shareholder returns include dividends and share price appreciation to 18 August, 2014
4
New Shareholders since the IPO
Apax Partners came in as the Concurrent Private
Placement investor
Other new shareholders include leading institutional
investors across U.S., Europe, Asia and Australia
markets
Zhaopin is currently covered by Credit Suisse & UBS
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14.1%58.4%
108.2%78.8%
298.6%
776.7%
1 year TSR 5 year TSR Since SEEK's IPO(19 April 2005)
S&P/ASX 200 SEEK
772.9 866.9
1,057.7
FY2012 FY2013 FY2014
Online recruitment
services 81.7%
Campus recruitment
services 8.8%
Assessment services
5.1%
Other HR related
services4.4%
821.5
908.9
1,079.8
FY2012 FY2013 FY2014
Accelerated growth in total revenues and net revenues in FY14
at 18.8% yoy and 22.0% yoy respectively
Total revenues FY2014 revenue breakdown
(RMB million)
Net revenues
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(RMB million)
Source: Company data.
Online recruitment services revenues Number of unique customers and ARPU
(RMB million) (Average Revenue per Customer ("ARPU") in RMB)
692.8
769.1
882.5
FY2012 FY2013 FY2014
222
257
335
FY2012 FY2013 FY2014
No. of unique customers („000)
3,114 2,991
2,633
FY2012 FY2013 FY2014
ARPU
Accelerated online revenues growth at 14.7% yoy, mainly
driven by strong customer volume growth
• Faster growth in online recruitment services revenues primarily driven by strong growth in customer volume, which is a
reflection of our strategic focus on growing expansion of SME base and further penetrating in lower tier cities.
• ARPU decline mainly due to change in customer mix as we acquired more SMEs who typically purchased introductory, lower-
priced products.12
Source: Company data.
Strong growth in campus, assessment and other human
resources related services
Campus recruitment services Assessment services
Other human resources related services
(RMB million)(RMB million)
(RMB million)
58.8 67.3
94.8
FY2012 FY2013 FY2014
17.0
32.7
55.4
FY2012 FY2013 FY2014
53.0
39.7
47.1
FY2012 FY2013 FY2014
13
Source: Company data.
Robust profitability achieved despite strategic focus on market
share and re-investment
Operating expenses (unaudited)
Operating profit and margin (unaudited)
(RMB million)
(RMB million)
(RMB million)
* Reported net profits for FY13 Q3 and Q4 included withholding taxes associated with cash dividends by a subsidiary to Zhaopin Ltd. in an amount of RMB12.5 million and RMB 9.9 million respectively.
Excluding such taxes, the net profits and net margins would be RMB 35.8m and 16.8% for FY13 Q3 and RMB47.5m and 20.4% for FY13 Q4, respectively.
1
Net profit and margin (unaudited)
(RMB million)
1
Gross profit and margin (unaudited)
185.8202.2 194.8
215.5 216.7
249.5237.9
258.393.5%
91.0% 91.3%92.7% 93.0%
88.4%
90.3%
92.6%
FY13 Q1 FY13 Q2 FY13 Q3 FY13 Q4 FY14 Q1 FY14 Q2 FY14 Q3 FY14 Q4
131.6150.6 151.6 156.1
165.2194.0 184.5 191.7
66.2%67.8%
71.0%67.2%
70.8% 68.7% 70.0% 68.7%
FY13 Q1 FY13 Q2 FY13 Q3 FY13 Q4 FY14 Q1 FY14 Q2 FY14 Q3 FY14 Q4
54.2 51.6
43.3
59.451.5
55.5 53.3
66.5
27.3%
23.2%20.3%
25.5%22.1%
19.7% 20.2%23.9%
FY13 Q1 FY13 Q2 FY13 Q3 FY13 Q4 FY14 Q1 FY14 Q2 FY14 Q3 FY14 Q4
49.645.2
23.3
37.6
47.240.5 43.4
55.5
25.0%20.3%
10.9%
16.2%20.2%
14.4%16.5%
19.9%
FY13 Q1 FY13 Q2FY13 Q3*FY13 Q4*FY14 Q1 FY14 Q2 FY14 Q3 FY14 Q4
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Source: Company data. All quarterly margins are calculated as a % of quarterly net revenue.
617.8
944.9
1,536.7
FY2012 FY2013 FY2014
Growing deferred revenue balance provides high transparency
on revenue and growing cash balance positions Zhaopin for
investment opportunities
Deferred revenue
(RMB million)
Cash balance*
(As of fiscal year-end, RMB million)
330.0
390.7
488.7
FY2012 FY2013 FY2014
* Including restricted cash, time deposits and restricted time deposits.
15
Source: Company data.
Healthy growth in key operating metrics*
No. of Registered Users No. of Completed Resumes
No. of Job Postings
(in million)
56.6
76.9 89.5
FY2012 FY2013 FY2014
7.6 11.0
18.1
FY2012 FY2013 FY2014
41.3
57.1 66.5
FY2012 FY2013 FY2014
Average Daily Unique Visitors
(in million)
1.4 1.8
2.1
FY2012 FY2013 FY2014
* Includes CJOL‟s metrics for the four months ended June 30, 2013 and for the fiscal year ended and as of June 30, 2014, when both Zhaopin Ltd. and CJOL were under common control
of SEEK16
(As of fiscal year-end, in million) (As of fiscal year-end, in million)
Source: Company data.
Our vision and strategy going forward
Our vision is to connect the largest number of users with
career opportunities throughout their career lifecycle
Attract and retain more users and customers through branding and
enhanced user experience
Leverage our core platform to expand into adjacent product offerings
Continue to pursue our mobile strategies
Pursue strategic investment and acquisition opportunities
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Continue to strengthen our core online recruiting business
1 2
3 4
Geographic expansion
Expand to areas outside of tier-
one and tier-two cities to over
100 cities
Cooperation with local
government
SME customer base growth
Increase the number of SMEs with
products like Zhilian iPin
Design special product package for
SMEs like YiPin
Customer retention and loyalty
Further build brand loyalty and
increase repeat usage of our
website by providing key account
services
Customer lifecycle engagement
("Moment of Truth")
Targeted industries penetration
Acquire new customers from key
industry verticals where we are
already well established, such as real
estate, finance, high-tech, and
automotive
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White-collar Higher endWhite-collarCollege
Learning
Recruiting
Assessment
Leverage our core platform to expand into adjacent product
offerings
智 联 培 训
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