China's leading online recruitment platform Zhaopin Limited (ZPIN.NYSE) announced on Thursday that it achieved net profit of 70.7 million yuan in the third quarter, up 18.1 percent year on year. According to a company filing, it generated operating turnover of 349.5 million yuan during the period, up 19.1 percent year on year.
The company's online recruitment business witnessed year-on-year increase of 23.7 percent in Q3 to 312.7 million yuan. Zhaopin Limited still has large development space in the domestic market, with market share at 14 percent in 2015, according to the statistics released by iResearch. Its job seekers reached 120 million in number and is estimated to reach 150 million in 2017.
Zhaopin Limited made its debut on the New York Stock Exchange (NYSE) on June 12, 2014. Zhaopin announced that it has priced its initial public offering (IPO) of 5.61 million American depositary shares (ADSs), each representing two Class A ordinary shares of the company, at 13.50 U.S. dollars per ADS for a total offering of 75.7 million dollars.
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