On September 21, Kanzhun Limited fell 5.07% in pre-market trading, trading at $14.48/share, with turnover of approximately $508,600. The decline was triggered by a wave of concentrated insider and major shareholder sell-offs disclosed in recent days.
Chairman and CEO Peng Zhao sold a total of 743,600 Class A ordinary shares on September 10-11 at a weighted average price of approximately $8.23, cashing out around $6.12 million. Separately, Director and CMO Xu Chen exercised options and sold a combined 600,000 shares across multiple transactions in early September, generating proceeds of roughly $5.03 million. More notably, shareholder Image Frame Investment (HK) Limited filed a Form 144 on September 15 declaring its intent to sell approximately 36.65 million Class A ordinary shares valued at around $283 million, representing a significantly larger potential disposal. Additionally, Techwolf Limited filed to sell 192,000 ADS worth approximately $3.09 million.
The simultaneous large-scale selling by multiple insiders and institutional holders has weighed heavily on near-term sentiment, intensifying downside pressure on the stock despite the company having reported solid Q2 results in late August, including revenue of RMB 2.40 billion and adjusted EPS that beat consensus estimates.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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