Seek, Australia's leading recruitment website and the major shareholder of China's Zhaopin.com, has published its first semi-annual financial report in 2009, which states Chinese job website Zhaopin.com made a CNY170 million loss in 2008.
By December 31, 2008, Seek has increased its stake in Zhaopin.com from 30% in the previous year to 56.2% and its loss caused by the Chinese website reached AUD10.68 million in the six months from June 1 to December 31, 2008. In the entire year of 2008, Seek's investment losses in Zhaopin.com were AUD14.47 million.
Estimating with Seek's stake in Zhaopin.com, the Chinese recruitment website made CNY170 million loss in 2008, which was 3.5 times as that of the second half of 2007.
Prior to this, another leading Chinese recruitment website ChinaHR.com also reported a high loss of CNY175 million.