Core Viewpoint - BOSS Zhipin (02076) announced the issuance of a total of 14,200 Class A ordinary shares due to the exercise of stock options from January 2 to January 5, 2026, and the conversion of 3.904 million Class B ordinary shares to Class A ordinary shares on January 8, 2026 [1] Summary by Categories - **Share Issuance** - A total of 14,200 Class A ordinary shares will be issued due to stock option exercises between January 2 and January 5, 2026 [1] - **Share Conversion** - On January 8, 2026, 3.904 million Class B ordinary shares will be converted into Class A ordinary shares [1]

FF305 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 不同投票權架構公司普通股 | 股份類別 A | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02076 | | 說明 A類普通股 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | 每股發行/出售價 (註4) | | 已發行股份總數 | | | | | 已發行股份（不包括庫存股份）數 目 | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | | | | 於下列日期開始時的結存(註1) | 2025年12月31日 | | 832,378,695 | | 0 | | | 832,378,695 | | 1). 就根據股份計劃授予參與人（發行人的董事除外）的股份獎勵或期權 而發行新股或轉讓庫存股份 - 涉及新股 | | ...

Core Viewpoint - The recent transfer of shares from Goldman Sachs (Asia) Securities to Morgan Stanley Hong Kong Securities indicates a significant movement in BOSS Zhipin-W's stock ownership, with a market value of HKD 1.691 billion, representing 2.20% of the total shares [1] Group 1 - On January 8, shareholders of BOSS Zhipin-W (02076) transferred shares valued at HKD 1.691 billion from Goldman Sachs (Asia) Securities to Morgan Stanley Hong Kong Securities [1] - BOSS Zhipin announced plans to issue a total of 114,100 shares due to the exercise of stock options between December 5 and December 16, 2025 [1] - Additionally, the company will issue 1,425,600 shares due to the vesting and settlement of restricted stock units during the same period [1]

Core Viewpoint - The recent transfer of shares from Goldman Sachs (Asia) Securities to Morgan Stanley Hong Kong Securities indicates a strategic shift in shareholder composition for BOSS Zhipin-W (02076), with a market value of HKD 1.691 billion, representing 2.20% of the total shares [1] Group 1 - On January 8, shareholders of BOSS Zhipin-W transferred shares valued at HKD 1.691 billion from Goldman Sachs (Asia) Securities to Morgan Stanley Hong Kong Securities [1] - BOSS Zhipin announced the issuance of a total of 114,100 shares due to the exercise of stock options between December 5 and December 16, 2025 [1] - Additionally, the company will issue 1,425,600 shares due to the vesting and settlement of restricted stock units during the same period [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02076 | 說明 | A類普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,800,000,000 | USD | | 0.0001 USD | | 180,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 1,800,000,000 | USD | | 0.0001 USD | | 180,000 | | 2. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | B | | 於香港聯交所上市 ...

Group 1: Market Performance - The U.S. stock market saw all three major indices rise, with the Dow Jones Industrial Average reaching a new historical high, approaching the 50,000 mark, closing at 49,462.08 points, up 0.99% [3] - The Philadelphia Semiconductor Index increased by 2.75%, setting a new historical high, with notable gains in chip stocks such as Microchip Technology up over 11%, Micron Technology up over 10%, and NXP Semiconductors up over 9% [5][6] Group 2: Federal Reserve Insights - Federal Reserve Governor Milan stated that the Fed should lower interest rates by more than 100 basis points this year, as economic data trends may support further rate cuts [5] - Milan noted that core inflation has returned to around the Fed's 2% target, and he expects strong economic growth in the U.S. this year [5] Group 3: Commodity Prices - Silver prices surged again, with COMEX silver futures breaking the $80 per ounce mark, reflecting a rise of approximately 6% [8] - Gold prices also saw a slight increase, with COMEX gold futures surpassing $4,500 per ounce, up over 1% [8]

Core Insights - Kanzhun Limited operates China's largest online recruitment marketplace, BOSS Zhipin, connecting job seekers with employers and generating revenue through recruitment-related services [5][10] - The company reported trailing twelve months (TTM) revenue of $1.09 billion and net income of $304.08 million through June 30, 2025, indicating strong financial performance [3][10] - As of November 13, 2025, Kanzhun's shares were priced at $20.88, reflecting a 51.4% increase over the past year, significantly outperforming the S&P 500 by 39.93 percentage points [3][4] Institutional Interest - CoreView Capital Management increased its stake in Kanzhun Limited by purchasing an additional 298,584 shares, bringing its total holdings to 9,447,889 shares valued at $220.70 million, which now represents 24.27% of CoreView's reportable U.S. equity assets [2][9] - The increase in stake occurred despite Kanzhun's strong recent performance, suggesting that CoreView views the company as a core holding rather than a short-term investment [9] Market Position - Kanzhun Limited has a market capitalization of $9.73 billion, positioning it as a significant player in the online recruitment industry [4] - The company serves a diverse range of corporate clients, from small and medium-sized enterprises to large organizations, indicating a broad market appeal [6] Future Considerations - The sustainability of Kanzhun's profitability in a potentially volatile hiring environment will be crucial for its long-term valuation, with a focus on enterprise spending behavior and margin stability [11] - Investors are encouraged to monitor Kanzhun's ability to maintain earnings without relying on a hiring boom, which would support its classification as a durable platform business [11]

Group 1 - The core point of the news highlights the top short-selling stocks in the market, with Hang Seng Bank-R, Sun Hung Kai Properties-R, and Lenovo Group-R leading in short-selling ratios at 100% each [1][2] - Alibaba-W, China Merchants Bank, and Baidu Group have the highest short-selling amounts, with figures of 1.242 billion, 1.018 billion, and 746 million respectively [1][2] - The deviation values for Hang Seng Bank-R, Hong Kong Exchanges-R, and Alibaba-W are the highest, recorded at 61.59%, 55.31%, and 48.34% respectively [1][2] Group 2 - The top ten short-selling ratio rankings show that Hang Seng Bank-R, Sun Hung Kai Properties-R, and Lenovo Group-R all have a short-selling ratio of 100% [2] - The top ten short-selling amounts list indicates Alibaba-W leading with 1.242 billion, followed by China Merchants Bank at 1.018 billion and Baidu Group at 746 million [2] - The top ten deviation values list features Hang Seng Bank-R with a deviation of 61.59%, followed by Hong Kong Exchanges-R at 55.31% and Alibaba-W at 48.34% [2]

Group 1 - The top short-selling stocks include China Resources Beer (80291) with a short-selling ratio of 100.00%, Lenovo Group (80992) at 91.04%, and BYD Company (81211) at 90.24% [1][2] - The highest short-selling amounts are led by Alibaba (09988) at 1.293 billion, Tencent Holdings (00700) at 1.057 billion, and Xiaomi Group (01810) at 0.925 billion [1][2] - The stocks with the highest deviation values are China Resources Beer (80291) at 31.62%, Lenovo Group (80992) at 17.55%, and BYD Company (81211) at 32.51% [1][2] Group 2 - The top short-selling ratio rankings show that China Resources Beer has the highest ratio at 100.00%, followed by Lenovo Group at 91.04% and BYD Company at 90.24% [2] - The top short-selling amounts indicate that Alibaba leads with 1.293 billion, followed by Tencent at 1.057 billion and Xiaomi at 0.925 billion [2] - The highest deviation values are recorded for China Resources Beer at 31.62%, Xiaomi at 35.05%, and BYD at 32.51% [2]

Group 1 - Kanzhun Ltd. (BZ) has solid revenue growth momentum and recovering profitability, with positive progress in AI monetization, maintaining a buy rating [1] - The author emphasizes a diverse investment approach, incorporating fundamental, technical, and momentum investing strategies to enhance the investment process [1] Group 2 - The article serves as a platform for tracking investment ideas and connecting with like-minded investors [1]