104 — Interim / Quarterly Report 2012

Mar 8, 2013

==> picture [696 x 56] intentionally omitted <==

® 104 人力銀行 104 Corporation (3130)

A Total Solution Provider in Chinese HR Service Market

March 2013

1

==> picture [696 x 56] intentionally omitted <==

Safe Harbor Statement

This presentation contains some forward-looking statements that are subject to substantial risks and uncertainties. Typically, these statements contain words such as “anticipate," “believe,” “could,” “estimate,” “expect,” “intend,” “plan,” forecast,” “project,” “predict,” “potential,” “continue,” “may,” “should,” “will” and “would” or similar words. You should consider these forward-looking statements carefully because such statements are only our expectations or projections about future events, and actual results may differ materially from those expressed or implied by such statements.

You should be cautioned that the forward-looking statements are not the guarantees of our future performance. The forward-looking statements contained in this presentation are made only as of the date of this presentation and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances, except as required by law.

This presentation and the information contained herein is the property of 104 Corporation.

2

==> picture [696 x 56] intentionally omitted <==

AGENDA

==> picture [13 x 15] intentionally omitted <==

==> picture [13 x 14] intentionally omitted <==

==> picture [13 x 14] intentionally omitted <==

==> picture [13 x 15] intentionally omitted <==

Corporate Profile and Market Information Management Team Online and Offline Products and Services Sales & Financial Review

3

==> picture [696 x 56] intentionally omitted <==

Company Profile

Market Position

Core Competencies

Financial Strengths

• 104 Job Bank was established in 1996.

• Strong resume and customer databases.

• Zero debts.

• Solid cash positions.

• First IPO Job Bank company in Taiwan in 2006.

• Providing a comprehensive range of HR related services.

• Sound operating margin.

• The survey conducted by ACNielsen has shown 104 was the first mentioned channel of 81% when corporates were recruiting their talents in 2012.

• High satisfaction and recognition of 104 brand name and services.

• Strong capability to generate cash in difficult economical period.

4

Source: 2008 Dec. Global View Monthly & Company information

==> picture [696 x 56] intentionally omitted <==

Management Team

– Rocky Yang Founder and Chairman

BA, English Literature, National Cheng-Kong University, Taiwan. 1992-1994 Vice President, Sunrex Computer Corporation (TSE: 2387). 1985-1991 Sales Manager, American Research Corporation.

==> picture [11 x 11] intentionally omitted <==

==> picture [11 x 12] intentionally omitted <==

==> picture [11 x 11] intentionally omitted <==

==> picture [80 x 98] intentionally omitted <==

Simon Juan – President & G.M. of Job Bank Business Group MA, European Studies, Katholieke Universiteit Leuven, Belgium BS, Naval Architecture Engineering, National Taiwan Ocean University. 1998-2000 Sales Director-China/HK, Philips China, Digital Video Systems. 1995-1997 Marketing Manager-Far East, Philips Digital Video Systems.

==> picture [81 x 97] intentionally omitted <==

– Steven Su G.M. of Executive Search and Temporary Staffing Business Group, General Administration and Chief Legal Officer Master of Laws, Law Center, University of Houston, USA. Bachelor of Laws, Fu-Jen Catholic University, Taiwan. 1996-2000, Attorney-at-Law, Su and Associates.

1993-1996, Manager-Administration, Taipei Computer Association.

==> picture [10 x 12] intentionally omitted <==

==> picture [85 x 103] intentionally omitted <==

5 Source: company information

==> picture [696 x 56] intentionally omitted <==

Full Range Services and Products

==> picture [647 x 376] intentionally omitted <==

----- Start of picture text -----

Job Banks 104 Ads 104 Learn
Large jobs base for job
seekers with an easy to
access platform.
Survey & Ads Training Program
Job Posting Services Services Posting Services Career center and
value added services
for job seekers.
104 Survey 104 Case 104 Tutor
Large and diversified
resumes pool for
corporate users.
Online Survey Outsourcing Case Tuition Posting
Services Posting Services Services
Integrated matching &
selecting platform for
HR Academy
104 Hunter 104 Temp corporate users.
Variety of integrated
HR Solutions Executive Search Temporary services satisfy different
Services Staffing level of users needs.
& Consultancy
----- End of picture text -----

6

Source: company information

==> picture [696 x 56] intentionally omitted <==

Our History of Business Expansion

Unit: NT$’000

==> picture [667 x 350] intentionally omitted <==

----- Start of picture text -----

An9.com
2,500,000 104 Consulting
+2%
+22%
104 Mini Job, 104 Super
Listed in TSE &
+1%
2,000,000 expanded into China +9%
Divided into 4 +16%
Business Groups
YoY
+13%
1,500,000 100% subsidiary 104 HR Consulting Growth
Inc. /Temp Staffing +39%
104 104 Case
Market Tutor, Boss
+68%
1,000,000 104 104
Learn Hunter, eHR
No. 1 in Taiwan
+40%
Market
2012 3Q Consolidated:
500,000 +34%
104 Job Bank
+145% +5% Parent: Temp ~ 54.1%
established
+128% Online ~ 83.1% Online ~ 38.1%
+336% Offline ~ 16.9% Offline ~ 7.8%
-
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
----- End of picture text -----

7 Source: company information

revenue / year

==> picture [696 x 56] intentionally omitted <==

Revenue Trend –YTD

Revenue Trend (IFRS)

Revenue Trend (Taiwan GAAP)

(Unit: NTD’000)

IFRS	2013 Jan	2012 Jan			2007 FY	2008 FY	2009 FY	2010FY	2011 FY	2012 YTD
				NTD	1,061,442	1,022,952	798,150	1,027,179	1,047,107	964,959
NTD	174,271	191,671
				QoQ	-	-	-	-	-	-
YoY	-9.08%	-
				YoY	7%	-3.6%	-21.9%	+28.7%	1.9%	-7.8%

Revenue Trend (Taiwan GAAP)

==> picture [679 x 164] intentionally omitted <==

Note: Blue bars represent the total revenue of the month, and the gray ones represent the advertising revenues.

8

Source: company data

==> picture [696 x 56] intentionally omitted <==

Parent Income Statement – unaudited 4Q 2012

Quarterly Unaudited Operating Performance

Unit: NTD ‘000 (except EPS) Quarterly Unaudited Operating Performance
4Q 2012 4Q 2011 Net Sales 237,148 233,242 Operating Income 54,351 48,377 Operating Margin (%) 22.9% 20.7% Income Before Tax 63,062 42,743	YoY 1.7% 12.3% 47.5%

Unit: NTD ‘000 (except EPS) Accumulated Unaudited Operating Performance	Unit: NTD ‘000 (except EPS) Accumulated Unaudited Operating Performance
FY 2012 FY 2011 Net Sales 964,959 1,040,084 Operating Income 181,059 269,891 Operating Margin (%) 18.8% 25.9% Income Before Tax 208,325 265,128	YoY -7.2% -32.9% -21.4%

9 Source: company data

==> picture [696 x 56] intentionally omitted <==

Financial Highlights – Net Sales

2012 3Q Net Sales ~ NT$ 261 million QoQ +2.8%; YoY -4.0%

2012 3Q Business Breakdown Online ~ 83.1%; Offline ~ 16.9%

==> picture [353 x 269] intentionally omitted <==

==> picture [309 x 272] intentionally omitted <==

10 Source: company data

==> picture [696 x 56] intentionally omitted <==

Financial Highlights-Operating & Net Income

2012 3Q Operating Income ~ NT$ 57mn Operating margin ~ 21.8% QoQ +8.3% ; YoY -30.7%

2012 3Q Net Income ~ NT$ 56 million Net margin ~ 21.4% QoQ -0.4% ; YoY -30.0%

==> picture [320 x 263] intentionally omitted <==

==> picture [324 x 263] intentionally omitted <==

11 Source: company data

==> picture [696 x 56] intentionally omitted <==

Parent Income Statement – 1-3Q 2012

Unit: NTD ‘000 (except EPS)

1-3Q 2012 1-3Q 2011 Net Sales 727,811 806,842 Gross Profit 628,648 699,076 Gross Margin (%) 86.4% 86.6% Operating Expenses 501,912 477,562 Operating Income 126,736 221,514 Operating Margin (%) 17.4% 27.5% Net Non-Operating Income (Loss) 18,556 871 Income Before Tax 145,292 222,385 Net Income 124,174 190,133	YoY Change -9.8% -10.1% +5.1% -42.8% +2030.4% -34.7% -34.7%
Pre-Tax EPS (NT$) 4.27 6.54 After-Tax EPS (NT$) 3.65 5.59

==> picture [10 x 11] intentionally omitted <==

As of September 30, 2012, the company had 34,013 thousand outstanding shares.

12

==> picture [696 x 56] intentionally omitted <==

Parent Balance Sheet – September 30, 2012

==> picture [274 x 29] intentionally omitted <==

----- Start of picture text -----

Unit: NTD’000
----- End of picture text -----

==> picture [165 x 29] intentionally omitted <==

----- Start of picture text -----

Sep 30, 2012
----- End of picture text -----

==> picture [211 x 29] intentionally omitted <==

----- Start of picture text -----

Sep 30, 2011
----- End of picture text -----

	Amount	%	Amount	%
Cash & S-T Investment	1,146,543	73 %	1,142,997	73 %
AR & NR	50,347	3 %	56,048	3 %
Total Current Asset	1,222,258	78 %	1,226,945	78 %
Net PP & E	173,698	10 %	162,785	11 %
Long term Investment	135,127	9 %	146,019	9 %
Total Asset	1,575,458	100 %	1,574,061	100 %
Accrued Expenses	138,634	9 %	140,610	9 %
Sales Revenue Received in Advance	242,924	15%	185,215	11%
Total Current Liabilities	416,422	26 %	374,262	24 %
Total Liabilities	416,422	26 %	374,262	24 %
Equity	1,159,036	74 %	1,199,799	76 %

13

==> picture [696 x 56] intentionally omitted <==

Parent Cash flow – 1-3Q 2012

==> picture [307 x 28] intentionally omitted <==

----- Start of picture text -----

Unit: NTD’000
----- End of picture text -----

==> picture [138 x 28] intentionally omitted <==

----- Start of picture text -----

1-3Q 2012
----- End of picture text -----

==> picture [171 x 28] intentionally omitted <==

----- Start of picture text -----

1-3Q 2011
----- End of picture text -----

	Amount	Amount
From Operation	202,743	230,753
Net Profit	124,174	190,133
Depreciation and Amortization	37,590	36,142
Other Operation Sources / (Uses)	40,979	4,478
From Investment	(52,822)	(65,143)
L-T Investment	(29,506)	(10,190)
Property, plant and equipment	(36,722)	(49,079)
Other Investing Sources / (Uses)	13,406	(5,874)
From Financing	(204,080)	(198,947)
Dividend Paid	(204,080)	(203,997)
ESOP	-	5,050
Cash and cash equivalents at end of Sep 30	1,146,543	1,142,997

14 Source: company data

==> picture [696 x 56] intentionally omitted <==

Consolidated Income Statement – 1-3Q 2012

Unit: NTD ‘000 (except EPS)

1-3Q 2012 1-3Q 2011 Net Sales 1,646,944 1,754,103 Gross Profit 706,543 791,651 Gross Margin (%) 42.9% 45.1% Operating Expenses 567,443 567,707 Operating Income 139,100 223,944 Operating Margin (%) 8.4% 12.8% Net Non-Operating Income (Loss) 8,279 1,562 Income Before Tax 147,379 225,506 Net Income 125,161 189,239	YoY Change -6.1% -10.8% - -37.9% +430.0% -34.6% -33.9%
Parent Shareholding 124,174 190,133 Minority Interest 987 (894)

==> picture [9 x 11] intentionally omitted <==

As of September 30, 2012, the company had 34,132 thousand outstanding shares.

15 Source: company data

==> picture [696 x 56] intentionally omitted <==

Consolidated Balance Sheet – Sep 30, 2012

==> picture [228 x 30] intentionally omitted <==

----- Start of picture text -----

Unit: NTD’000
----- End of picture text -----

==> picture [211 x 30] intentionally omitted <==

----- Start of picture text -----

Sep 30, 2012
----- End of picture text -----

==> picture [211 x 30] intentionally omitted <==

----- Start of picture text -----

Sep 30, 2011
----- End of picture text -----

	Amount	%	Amount	%
Cash & S-T Investment	1,244,360	72 %	1,257,110	71 %
AR & NR	231,895	14 %	231,799	14 %
Total Current Asset	1,502,532	87 %	1,520,200	87 %
Net PP & E	179,019	9 %	174,959	10 %
Total Asset	1,739,691	100 %	1,742,574	100 %
Accrued Expenses	277,332	16 %	285,490	16 %
Sales Revenue Received in Advance	253,932	15 %	194,090	11 %
Total Current Liabilities	577,738	34 %	540,770	31 %
Total Liabilities	577,738	34 %	540,770	31 %
Equity	1,161,953	66 %	1,201,804	69 %

16

==> picture [696 x 56] intentionally omitted <==

Consolidated Cash Flow – 1-3Q 2012

==> picture [313 x 27] intentionally omitted <==

----- Start of picture text -----

Unit: NTD’000
----- End of picture text -----

==> picture [137 x 27] intentionally omitted <==

----- Start of picture text -----

1-3Q 2012
----- End of picture text -----

==> picture [171 x 27] intentionally omitted <==

----- Start of picture text -----

1-3Q 2011
----- End of picture text -----

	Amount	Amount
From Operation	131,910	159,348
Net Profit	125,161	189,239
Depreciation and Amortization	39,313	38,392
Other Operation Sources / (Uses)	(32,564)	(68,283)
From Investment	(23,933)	(61,111)
L-T Investment	-	-
Property, plant and equipment	(37,821)	(54,959)
Other Investing Sources / (Uses)	(13,888)	(6,152)
From Financing	(219,289)	(199,186)
Dividend Paid	(204,080)	(203,997)
Other Financing Cash Flows	(15,209)	(239)
ESOP	-	5,050
Cash and cash equivalents at end of Sep 30	1,244,360	1,257,110

17

Source: company data

==> picture [696 x 56] intentionally omitted <==

Dividend Policy

==> picture [677 x 100] intentionally omitted <==

==> picture [677 x 100] intentionally omitted <==

Unit: NTD’000	Unit: NTD’000	Unit: NTD’000	Unit: NTD’000	Unit: NTD’000	Unit: NTD’000	Unit: NTD’000
Fiscal Year	2006	2007	2008	2009	2010	2011
Net Income	306,802	245,417	238,328	171,542	261,328	228,164
Cash Dividend	236,250	191,363	142,763	154,237	203,996	204,079
Dividend Payout Ratio	77%	78%	60%	90%	78%	89%
Average Stock Price	206.9	158.5	99.5	73.3	112.6	99.23
Yield Rate(%)	3.4%	4.5%	6.5%	5.8%	4.0%	6.5%
Employee Cash Bonus	32,965	26,702	26,356	18,424	28,168	24,614

18 Source: company data

==> picture [696 x 56] intentionally omitted <==

Thank you!

For more information, please contact: Brenda Shih, CFO 886-2-2912-6104 ext.8719 brenda.shih@104.com.tw

Suzzen Hsu, Investor Relations of Finance Department 886-2-2912-6104 ext. 8684 suzzen.hsu@104.com.tw

19