BEIJING, March 18, 2026 (GLOBE NEWSWIRE) -- KANZHUN LIMITED ("BOSS Zhipin" or the "Company") (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in China, today announced its unaudited financial results for the quarter and full year ended December 31, 2025.
Fourth Quarter and Full Year 2025 Highlights
-- Total paid enterprise customers1 in the twelve months ended December 31,
2025 were 6.8 million, an increase of 11.5% from 6.1 million in the
twelve months ended December 31, 2024.
-- Average monthly active users (MAU)2 for the fourth quarter of 2025 were
58.0 million, an increase of 10.1% from 52.7 million for the same quarter
of 2024.Average MAU for the full year of 2025 were 60.7 million, an
increase of 14.5% from 53.0 million for the full year of 2024.
-- Revenues for the fourth quarter of 2025 were RMB2,078.5 million (US$297.2
million), an increase of 14.0% from RMB1,823.6 million for the same
quarter of 2024.Revenues for the full year of 2025 were RMB8,267.5
million (US$1,182.2 million), an increase of 12.4% from RMB7,355.7
million for the full year of 2024.
-- Income from operations for the fourth quarter of 2025 was RMB686.0
million (US$98.1 million), an increase of 80.2% from RMB380.6 million for
the same quarter of 2024. Adjusted3 income from operations for the fourth
quarter of 2025 was RMB900.1 million (US$128.7 million), an increase of
36.6% from RMB658.8 million for the same quarter of 2024.Income from
operations for the full year of 2025 was RMB2,464.1 million (US$352.4
million), an increase of 110.1% from RMB1,172.9 million for the full year
of 2024. Adjusted income from operations for the full year of 2025 was
RMB3,376.1 million (US$482.8 million), an increase of 45.7% from
RMB2,316.6 million for the full year of 2024.
-- Net income for the fourth quarter of 2025 was RMB691.8 million (US$98.9
million), an increase of 55.7% from RMB444.2 million for the same quarter
of 2024. Adjusted net income for the fourth quarter of 2025 was RMB905.9
million (US$129.5 million), an increase of 25.4% from RMB722.4 million
for the same quarter of 2024.Net income for the full year of 2025 was
RMB2,690.5 million (US$384.7 million), an increase of 71.7% from
RMB1,567.0 million for the full year of 2024. Adjusted net income for the
full year of 2025 was RMB3,602.5 million (US$515.1 million), an increase
of 32.9% from RMB2,710.7 million for the full year of 2024.
Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, remarked, "Throughout 2025, the Company achieved a steady and high-quality growth. The recruitment market showed signs of a structural recovery over the year; while further penetrating the blue-collar sector, the development of emerging technologies such as AI drove growth and recovery in recruitment demand within white-collar technical industries. The Company achieved positive results in both exploring cutting-edge AI technologies and deploying AI products. Its self-developed large language model Nanbeige ranked first among HuggingFace's trending text models. On the product front, the Company leveraged AI capabilities to enhance recommendation accuracy and user experience while accelerating the commercialization of AI products.
The Company continues to increase shareholder returns, planning to allocate no less than 50% of the previous year's adjusted net income annually to share buybacks and dividends over the next three years starting from 2026, while raising the buyback limit to US$400 million. This reflects the Company's confidence in long-term growth and its commitment to sharing the benefits of its development with shareholders."
Ms. Wenbei Wang, Deputy Chief Financial Officer of the Company, elaborated, "In the fourth quarter and full year of 2025, we delivered strong sets of financials, with quality growth for both top-line and profitability. Driven by continued user penetration and enhanced monetization capabilities through service innovation, the Company's annual revenue grew by 12.4% year over year, further solidifying our industry-leading position as China's largest online recruitment platform. The full-year profit margin reached record high and increased significantly year over year, demonstrating the strong operating leverage and superior cost control capabilities driven by our robust double-sided network effects."
(_____________________________)
(1 Paid enterprise customers are defined as enterprise users and company accounts from which the Company recognizes revenues for online recruitment services.) (2 Monthly active users refer to the number of verified user accounts, including both job seekers and enterprise users, that logged on to the Company's mobile application in a given month at least once.) (3 It is a non-GAAP financial measure, excluding the impact of share-based compensation expenses. For more information about the non-GAAP financial measures, please see the section of "Non-GAAP Financial Measures.")
Fourth Quarter 2025 Financial Results
Revenues
Revenues were RMB2,078.5 million (US$297.2 million) for the fourth quarter of 2025, representing an increase of 14.0% from RMB1,823.6 million for the same quarter of 2024.
-- Revenues from online recruitment services to enterprise customers were
RMB2,066.9 million (US$295.6 million) for the fourth quarter of 2025,
representing an increase of 14.6% from RMB1,804.1 million for the same
quarter of 2024. This increase was mainly driven by the paid enterprise
customer growth.
-- Revenues from other services, primarily comprising paid value-added
services offered to job seekers, were RMB11.6 million (US$1.7 million)
for the fourth quarter of 2025, decreasing from RMB19.5 million for the
same quarter of 2024. The decrease was mainly driven by the optimization
of certain value-added features. The Company simplified these offerings
to enhance the value proposition for job seekers, prioritizing platform
engagement and long-term ecosystem growth.
Operating cost and expenses
Total operating cost and expenses were RMB1,359.7 million (US$194.4 million) for the fourth quarter of 2025, representing a decrease of 6.6% from RMB1,456.3 million for the same quarter of 2024. Total share-based compensation expenses were RMB214.1 million (US$30.6 million) for the fourth quarter of 2025, representing a decrease of 23.0% from RMB278.2 million for the same quarter of 2024.
-- Cost of revenues was RMB309.1 million (US$44.2 million) for the fourth
quarter of 2025, representing a decrease of 1.5% from RMB313.7 million
for the same quarter of 2024, primarily due to a decrease in
employee-related expenses, partially offset by an increase in payment
processing cost.
-- Sales and marketing expenses were RMB388.6 million (US$55.6 million) for
the fourth quarter of 2025, representing a decrease of 8.8% from RMB426.3
million for the same quarter of 2024, primarily due to a decrease in
employee-related expenses, partially offset by an increase in advertising
and marketing expenses.
-- Research and development expenses were RMB406.0 million (US$58.1 million)
for the fourth quarter of 2025, representing a decrease of 7.8% from
RMB440.4 million for the same quarter of 2024, primarily due to a
decrease in employee-related expenses, partially offset by an increase in
server depreciation expenses.
-- General and administrative expenses were RMB256.1 million (US$36.6
million) for the fourth quarter of 2025, representing a decrease of 7.1%
from RMB275.8 million for the same quarter of 2024, primarily due to a
decrease in employee-related expenses.
Income from operations and adjusted income from operations
Income from operations was RMB686.0 million (US$98.1 million) for the fourth quarter of 2025, representing an increase of 80.2% from RMB380.6 million for the same quarter of 2024.
Adjusted income from operations was RMB900.1 million (US$128.7 million) for the fourth quarter of 2025, representing an increase of 36.6% from RMB658.8 million for the same quarter of 2024.
Income tax expenses
Income tax expenses were RMB164.5 million (US$23.5 million) for the fourth quarter of 2025, representing an increase of 81.4% from RMB90.7 million for the same quarter of 2024, primarily due to the growth in income before income tax expenses as well as the provision of a top-up tax of RMB37.6 million under the Pillar Two rules.
Net income and adjusted net income
Net income was RMB691.8 million (US$98.9 million) for the fourth quarter of 2025, representing an increase of 55.7% from RMB444.2 million for the same quarter of 2024.
Adjusted net income was RMB905.9 million (US$129.5 million) for the fourth quarter of 2025, representing an increase of 25.4% from RMB722.4 million for the same quarter of 2024.
Net income per American depositary share ("ADS") and adjusted net income per ADS
Basic and diluted net income per ADS attributable to ordinary shareholders for the fourth quarter of 2025 were RMB1.49 (US$0.21) and RMB1.45 (US$0.21), respectively, compared to basic and diluted net income per ADS of RMB1.03 and RMB1.00 for the same quarter of 2024.
Adjusted basic and diluted net income per ADS attributable to ordinary shareholders for the fourth quarter of 2025 were RMB1.96 (US$0.28) and RMB1.90 (US$0.27), respectively, compared to adjusted basic and diluted net income per ADS of RMB1.67 and RMB1.62 for the same quarter of 2024.
Net cash provided by operating activities
Net cash provided by operating activities was RMB1,323.6 million (US$189.3 million) for the fourth quarter of 2025, representing an increase of 38.4% from RMB956.1 million for the same quarter of 2024.
Cash position
Balance of cash and cash equivalents, short-term time deposits and short-term investments was RMB19,945.3 million (US$2,852.1 million) as of December 31, 2025.
Full Year 2025 Financial Results
Revenues
Revenues were RMB8,267.5 million (US$1,182.2 million) for the full year of 2025, representing an increase of 12.4% from RMB7,355.7 million for the full year of 2024.
-- Revenues from online recruitment services to enterprise customers were
RMB8,192.7 million (US$1,171.5 million) for the full year of 2025,
representing an increase of 12.7% from RMB7,270.0 million for the full
year of 2024. This increase was mainly driven by the paid enterprise
customer growth.
-- Revenues from other services, primarily comprising paid value-added
services offered to job seekers, were RMB74.8 million (US$10.7 million)
for the full year of 2025, decreasing from RMB85.7 million for the full
year of 2024. The decrease was mainly driven by the optimization of
certain value-added features. The Company simplified these offerings to
enhance the value proposition for job seekers, prioritizing platform
engagement and long-term ecosystem growth.
Operating cost and expenses
Total operating cost and expenses were RMB5,781.4 million (US$826.7 million) for the full year of 2025, representing a decrease of 7.1% from RMB6,222.5 million for the full year of 2024. Total share-based compensation expenses were RMB912.0 million (US$130.4 million) for the full year of 2025, representing a decrease of 20.3% from RMB1,143.7 million for the full year of 2024.
-- Cost of revenues was RMB1,235.2 million (US$176.6 million) for the full
year of 2025, remaining relatively stable compared with RMB1,239.7
million for the full year of 2024. The decreases in employee-related
expenses and rental expenses were largely offset by the increase in
payment processing cost.
-- Sales and marketing expenses were RMB1,693.2 million (US$242.1 million)
for the full year of 2025, representing a decrease of 18.3% from
RMB2,073.1 million for the full year of 2024, primarily due to decreases
in advertising and marketing expenses, employee-related expenses and
rental expenses.
-- Research and development expenses were RMB1,653.6 million (US$236.5
million) for the full year of 2025, representing a decrease of 8.9% from
RMB1,815.8 million for the full year of 2024, primarily due to a decrease
in employee-related expenses.
-- General and administrative expenses were RMB1,199.4 million (US$171.5
million) for the full year of 2025, representing an increase of 9.6% from
RMB1,093.9 million for the full year of 2024, primarily due to an
impairment of intangible assets.
Income from operations and adjusted income from operations
Income from operations was RMB2,464.1 million (US$352.4 million) for the full year of 2025, representing an increase of 110.1% from RMB1,172.9 million for the full year of 2024.
Adjusted income from operations was RMB3,376.1 million (US$482.8 million) for the full year of 2025, representing an increase of 45.7% from RMB2,316.6 million for the full year of 2024.
Income tax expenses
Income tax expenses were RMB509.7 million (US$72.9 million) for the full year of 2025, representing an increase of 91.9% from RMB265.6 million for the full year of 2024, primarily due to the growth in income before income tax expenses as well as the provision of a top-up tax of RMB37.6 million under the Pillar Two rules and withholding tax of RMB14.7 million.
Net income and adjusted net income
Net income was RMB2,690.5 million (US$384.7 million) for the full year of 2025, representing an increase of 71.7% from RMB1,567.0 million for the full year of 2024.
Adjusted net income was RMB3,602.5 million (US$515.1 million) for the full year of 2025, representing an increase of 32.9% from RMB2,710.7 million for the full year of 2024.
Net income per ADS and adjusted net income per ADS
Basic and diluted net income per ADS attributable to ordinary shareholders for the full year of 2025 were RMB6.07 (US$0.87) and RMB5.90 (US$0.84), respectively, compared to basic and diluted net income per ADS of RMB3.59 and RMB3.49 for the full year of 2024.
Adjusted basic and diluted net income per ADS attributable to ordinary shareholders for the full year of 2025 were RMB8.10 (US$1.16) and RMB7.87 (US$1.13), respectively, compared to adjusted basic and diluted net income per ADS of RMB6.19 and RMB6.00 for the full year of 2024.
Net cash provided by operating activities
Net cash provided by operating activities was RMB4,552.4 million (US$651.0 million) for the full year of 2025, representing an increase of 28.5% from RMB3,542.5 million for the full year of 2024.
Annual Dividend Policy and Share Repurchase Program
The board of directors (the "Board") of the Company has approved an annual dividend policy (the "Dividend Policy"), pursuant to which the Board intends to declare and distribute a dividend each year in accordance with the memorandum and articles of association of the Company and applicable laws and regulations. Under the Dividend Policy, the determination to make dividend distributions and the amount of such distributions in any particular annual period will be made at the discretion of the Board upon review of the Company's operations and earnings, cash flow, financial condition and other relevant factors.
Under the Dividend Policy, and subject to the Board's final determination and the prevailing market conditions, the Company currently expects that for each of the next three years starting from 2026, to allocate no less than 50% of the Company's adjusted net income (a non-GAAP financial measure) of the preceding fiscal year for distribution of dividend and share repurchases.
The Board may adjust its share repurchase and dividend plan at its discretion based on financial performance, capital requirements, market conditions and other relevant factors, and will provide timely update to shareholders of the Company as and when appropriate in accordance with applicable laws and regulations.
On March 18, 2026, the Board approved amendments to the existing share repurchase program, increasing the total authorization under the program to repurchase up to US$400 million of the Company's shares (including ADSs) over the extended term of the program through August 28, 2027, in a sign of confidence about the Company's continued growth in the future.
Outlook
For the first quarter of 2026, the Company currently expects its total revenues to be between RMB2.05 billion and RMB2.085 billion, representing a year-on-year increase of 6.6% to 8.4%. This forecast reflects the Company's current views on the market and operational conditions in China, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.
Conference Call Information
The Company will host a conference call at 8:00 AM U.S. Eastern Time on Wednesday, March 18, 2026 (8:00 PM Beijing Time on Wednesday, March 18, 2026) to discuss the financial results.
Participants are required to pre-register for the conference call at:
https://register-conf.media-server.com/register/BI4c5b047965fc423ea1aa4f7ec2d0e319
Upon registration, participants will receive an email containing participant dial-in numbers and a unique personal PIN. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.zhipin.com.
Exchange Rate
This press release contains translations of certain RMB amounts into U.S. dollar ("US$") amounts at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the exchange rate of RMB6.9931 to US$1.00 on December 31, 2025 as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.
Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP financial measures, such as adjusted income from operations, adjusted net income, adjusted net income attributable to ordinary shareholders, adjusted basic and diluted net income per ordinary share attributable to ordinary shareholders and adjusted basic and diluted net income per ADS attributable to ordinary shareholders as supplemental measures to review and assess operating performance. The Company defines these non-GAAP financial measures by excluding the impact of share-based compensation expenses, which are non-cash expenses, from the related GAAP financial measures. The Company believes that these non-GAAP financial measures help identify underlying trends in the business and facilitate investors' assessment of the Company's operating performance.
The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP information used by other companies. The non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for most directly comparable GAAP financial measures. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures has been provided in the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" at the end of this press release.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Among other things, the outlook and quotations from management in this press release contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange of Hong Kong Limited, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission and The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About KANZHUN LIMITED
KANZHUN LIMITED operates the leading online recruitment platform BOSS Zhipin in China. The Company connects job seekers and enterprise users in an efficient and seamless manner through its highly interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network effects to deliver higher recruitment efficiency and drive rapid expansion.
For investor and media inquiries, please contact:
KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com
PIACENTE FINANCIAL COMMUNICATIONS
Email: kanzhun@tpg-ir.com
KANZHUN LIMITED
Unaudited Condensed Consolidated Statements of Operations
(All amounts in thousands, except share and per share
data)
For the three months ended December 31, For the year ended December 31,
------------------------------------------- ------------------------------------------
2024 2025 2024 2025
--------------- -------------------------- ------------ ----------------------------
RMB RMB US$ RMB RMB US$
Revenues
Online recruitment
services to
enterprise
customers 1,804,114 2,066,890 295,561 7,270,026 8,192,714 1,171,543
Others 19,492 11,637 1,664 85,651 74,804 10,697
----------- ----------- ----------- ----------- ----------- -----------
Total revenues 1,823,606 2,078,527 297,225 7,355,677 8,267,518 1,182,240
----------- ----------- ----------- ----------- ----------- -----------
Operating cost and
expenses
Cost of revenues((1) (313,715) (309,097) (44,200) (1,239,712) (1,235,153) (176,625)
Sales and marketing
expenses((1) (426,345) (388,585) (55,567) (2,073,052) (1,693,245) (242,131)
Research and
development
expenses((1) (440,360) (405,968) (58,053) (1,815,809) (1,653,601) (236,462)
General and
administrative
expenses((1) (275,835) (256,054) (36,615) (1,093,949) (1,199,367) (171,507)
----------- ----------- ----------- ----------- ----------- -----------
Total operating cost and
expenses (1,456,255) (1,359,704) (194,435) (6,222,522) (5,781,366) (826,725)
----------- ----------- ----------- ----------- ----------- -----------
Other operating
income/(expenses),
net 13,210 (32,831) (4,695) 39,791 (22,051) (3,153)
----------- ----------- ----------- ----------- ----------- -----------
Income from operations 380,561 685,992 98,095 1,172,946 2,464,101 352,362
----------- ----------- ----------- ----------- ----------- -----------
Interest and
investment income,
net 156,464 171,546 24,531 625,282 705,963 100,951
Foreign exchange
(loss)/gain (132) 7,302 1,044 (68) 11,161 1,596
Other
(expenses)/income,
net (1,925) (8,592) (1,229) 34,500 18,987 2,715
----------- ----------- ----------- ----------- ----------- -----------
Income before income tax
expenses 534,968 856,248 122,441 1,832,660 3,200,212 457,624
----------- ----------- ----------- ----------- ----------- -----------
Income tax expenses (90,743) (164,469) (23,519) (265,634) (509,745) (72,893)
----------- ----------- ----------- ----------- ----------- -----------
Net income 444,225 691,779 98,922 1,567,026 2,690,467 384,731
----------- ----------- ----------- ----------- ----------- -----------
Net loss
attributable to
non-controlling
interests 5,383 2,396 343 17,638 44,873 6,417
----------- ----------- ----------- ----------- ----------- -----------
Net income attributable
to ordinary
shareholders of KANZHUN
LIMITED 449,608 694,175 99,265 1,584,664 2,735,340 391,148
=========== =========== =========== =========== =========== ===========
Weighted average number
of ordinary shares used
in computing net income
per share
-- Basic 874,099,493 928,924,405 928,924,405 881,882,225 901,033,318 901,033,318
-- Diluted 898,715,743 956,104,965 956,104,965 909,228,757 926,992,531 926,992,531
Net income per ordinary
share attributable to
ordinary shareholders
-- Basic 0.51 0.75 0.11 1.80 3.04 0.43
-- Diluted 0.50 0.73 0.10 1.74 2.95 0.42
Net income per ADS((2)
attributable to
ordinary shareholders
-- Basic 1.03 1.49 0.21 3.59 6.07 0.87
-- Diluted 1.00 1.45 0.21 3.49 5.90 0.84
(1) Include share-based compensation expenses as follows:
For the three months ended For the year ended December
December 31, 31,
-------------------------- ----------------------------
2024 2025 2024 2025
------- ----------------- --------- -----------------
RMB RMB US$ RMB RMB US$
Cost of revenues 10,080 2,803 401 43,332 22,550 3,225
Sales and
marketing
expenses 71,209 57,013 8,153 280,668 239,800 34,291
Research and
development
expenses 106,079 74,235 10,615 421,411 317,653 45,424
General and
administrative
expenses 90,830 80,051 11,447 398,274 331,984 47,473
------- ------- -------- --------- ------- --------
Total 278,198 214,102 30,616 1,143,685 911,987 130,413
======= ======= ======== ========= ======= ========
(2) Each ADS represents two Class A ordinary shares.
KANZHUN LIMITED
Unaudited Condensed Consolidated Balance Sheets
(All amounts in thousands)
As of December 31,
---------------------------------
2024 2025
---------- ---------------------
RMB RMB US$
ASSETS
Current assets
Cash and cash equivalents 2,553,090 4,104,917 586,995
Short-term time deposits 5,488,631 6,390,158 913,780
Short-term investments 6,639,389 9,450,244 1,351,367
Accounts and notes receivable,
net 40,713 33,137 4,739
Inventories 3,042 2,395 342
Amounts due from related parties 7,258 9,241 1,321
Prepayments and other current
assets 368,260 365,205 52,224
---------- ---------- ---------
Total current assets 15,100,383 20,355,297 2,910,768
---------- ---------- ---------
Non-current assets
Long-term time deposits - 782,460 111,890
Long-term investments 1,914,530 1,898,178 271,436
Property, equipment and software,
net 1,733,786 1,245,022 178,036
Right-of-use assets, net 302,856 161,452 23,087
Intangible assets, net 252,589 100,909 14,430
Goodwill 6,528 6,528 934
Deferred tax assets - 18,168 2,598
---------- ---------- ---------
Total non-current assets 4,210,289 4,212,717 602,411
---------- ---------- ---------
Total assets 19,310,672 24,568,014 3,513,179
========== ========== =========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable 110,668 119,966 17,155
Deferred revenue 3,084,839 3,235,959 462,736
Other payables and accrued
liabilities 815,767 921,319 131,747
Operating lease liabilities,
current 180,782 94,016 13,444
Total current liabilities 4,192,056 4,371,260 625,082
---------- ---------- ---------
Non-current liabilities
Operating lease liabilities,
non-current 121,345 64,027 9,156
Deferred tax liabilities 34,451 51,689 7,391
---------- ---------- ---------
Total non-current liabilities 155,796 115,716 16,547
---------- ---------- ---------
Total liabilities 4,347,852 4,486,976 641,629
---------- ---------- ---------
Total shareholders' equity 14,962,820 20,081,038 2,871,550
---------- ---------- ---------
Total liabilities and shareholders'
equity 19,310,672 24,568,014 3,513,179
========== ========== =========
KANZHUN LIMITED
Unaudited Condensed Consolidated Statements of Cash
Flows
(All amounts in thousands)
For the three months ended December
31, For the year ended December 31,
------------------------------------- -------------------------------------
2024 2025 2024 2025
------------- ---------------------- -----------
RMB RMB US$ RMB RMB US$
Net cash provided by
operating
activities 956,108 1,323,571 189,268 3,542,495 4,552,371 650,980
Net cash used in
investing
activities (723,128) (1,437,929) (205,621) (2,016,899) (4,608,212) (658,966)
Net cash (used
in)/provided by
financing
activities (520,351) (456,492) (65,278) (1,460,539) 1,654,508 236,592
Effect of exchange
rate changes on cash
and cash
equivalents 24,303 (22,318) (3,191) 15,074 (46,840) (6,698)
--------- ---------- -------- ---------- ---------- --------
Net
(decrease)/increase
in cash and cash
equivalents (263,068) (593,168) (84,822) 80,131 1,551,827 221,908
--------- ---------- -------- ---------- ---------- --------
Cash and cash
equivalents at
beginning of the
period 2,816,158 4,698,085 671,817 2,472,959 2,553,090 365,087
--------- ---------- -------- ---------- ---------- --------
Cash and cash
equivalents at end
of the period 2,553,090 4,104,917 586,995 2,553,090 4,104,917 586,995
========= ========== ======== ========== ========== ========
KANZHUN LIMITED
Unaudited Reconciliation of GAAP and Non-GAAP Results
(All amounts in thousands, except share and per share
data)
For the three months ended December
31, For the year ended December 31,
------------------------------------- -------------------------------------
2024 2025 2024 2025
----------- ------------------------ -----------
RMB RMB US$ RMB RMB US$
Income from
operations 380,561 685,992 98,095 1,172,946 2,464,101 352,362
Add:
Share-based
compensation
expenses 278,198 214,102 30,616 1,143,685 911,987 130,413
----------- ----------- ----------- ----------- ----------- -----------
Adjusted
income from
operations 658,759 900,094 128,711 2,316,631 3,376,088 482,775
=========== =========== =========== =========== =========== ===========
Net income 444,225 691,779 98,922 1,567,026 2,690,467 384,731
Add:
Share-based
compensation
expenses 278,198 214,102 30,616 1,143,685 911,987 130,413
----------- ----------- ----------- ----------- ----------- -----------
Adjusted net
income 722,423 905,881 129,538 2,710,711 3,602,454 515,144
=========== =========== =========== =========== =========== ===========
Net income
attributable
to ordinary
shareholders
of KANZHUN
LIMITED 449,608 694,175 99,265 1,584,664 2,735,340 391,148
Add:
Share-based
compensation
expenses 278,198 214,102 30,616 1,143,685 911,987 130,413
----------- ----------- ----------- ----------- ----------- -----------
Adjusted net
income
attributable
to ordinary
shareholders
of KANZHUN
LIMITED 727,806 908,277 129,881 2,728,349 3,647,327 521,561
=========== =========== =========== =========== =========== ===========
Weighted
average
number of
ordinary
shares used
in computing
adjusted net
income per
share
(Non-GAAP)
-- Basic 874,099,493 928,924,405 928,924,405 881,882,225 901,033,318 901,033,318
-- Diluted 898,715,743 956,104,965 956,104,965 909,228,757 926,992,531 926,992,531
Adjusted net
income per
ordinary
share
attributable
to ordinary
shareholders
-- Basic 0.83 0.98 0.14 3.09 4.05 0.58
-- Diluted 0.81 0.95 0.14 3.00 3.93 0.56
Adjusted net
income per
ADS
attributable
to ordinary
shareholders
-- Basic 1.67 1.96 0.28 6.19 8.10 1.16
-- Diluted 1.62 1.90 0.27 6.00 7.87 1.13
(END) Dow Jones Newswires
March 18, 2026 07:30 ET (11:30 GMT)
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