T.H. Capital - 51job Inc Sponsored ADR (IWQ) T. H. Data Flash â€“ 51job Inc. â€“ December 4Q18: Macro Economic Headwinds Continue To Have Negative Impact On JOBS

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T.H. Capital

Tian Hou

EUR 186.12 For Business Accounts Only

T. H. Data Flash â€“ 51job Inc. â€“ December & 4Q18: Macro Economic Headwinds Continue To Have Negative Impact On JOBS

We are negative on JOBS into 4Q18. China’s economy is still in the process of deleveraging, which resulted in the decline for job demands. The number of newly posted listings as well as the number of unique employers on JOBS platform declined. Based on our data and calculations, we believe 51Job’s 4Q18 revenue is likely to be in-line or slightly lower than consensus at RMB1,111.1M.

21/12/2018 6 EN

Underlying

51job Inc Sponsored ADR

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US3168271043 Cayman Islands

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T.H. Capital

T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.

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Analysts

Tian Hou

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T. H. Data Flash â€“ 51job Inc. â€“ December & 4Q18: Macro Economic Headwinds Continue To Have Negative Impact On JOBS

Monthly LMI Update Independent Investment Research

An unfavourable environment weighs on 51JOB INCO., which sees a downgrade to Slightly Negative

New Street: Japanese Telcos - Another strong quarter, more upside to come, stay bullish – Q3FY20 review

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BABA: Positive On Longer-Term Outlook As China’s Economy Is Showing Signs of Bottoming; Negatives Are In The Stock Price

JD: China’s Economy May Have Bottomed As The Property Market Is Starting To Show Signs Of Stabilization; JD To Benefit From the Resumption In Growth Of China’s Economy

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