Shares of Kanzhun (BZ 18.80%) soared 18.8% on Tuesday after the Chinese online recruitment platform announced stronger-than-expected quarterly results and a new share repurchase program.On Kanzhun's blue-collar successKanzhun's fourth-quarter 2023 revenue grew 46% year over year to 1,58 billion yuan (or $222.6 million U.S. dollars), translating to non-GAAP (adjusted) net income of 628.6 million yuan (USD $88.5 million USD), or 1.39 yuan (USD $0.20) per American depositary share (ADS). Most analysts, on aver ...

Kanzhun Ltd (NASDAQ:BZ) Q4 2023 Earnings Conference Call March 12, 2024 8:00 AM ET Company Participants Wenbei Wang - Head of Investor Relations Jonathan Peng Zhao - Founder, Chairman and Chief Executive Officer Phil Yu Zhang - Director and Chief Financial Officer Conference Call Participants Eddy Wang - Morgan Stanley Timothy Zhao - Goldman Sachs Yang Bai - CICC Robin Zhu - Bernstein Operator Ladies and gentlemen, thank you for standing by. Welcome to the Kanzhun Limited Fourth Quarter and Fiscal Year 2023 ...

BEIJING, March 12, 2024 (GLOBE NEWSWIRE) -- KANZHUN LIMITED ("BOSS Zhipin" or the "Company") (NASDAQ:BZ, HKEX: 2076))), a leading online recruitment platform in China, today announced that its board of directors has authorized a new share repurchase program effective from March 20, 2024 for a 12-month period, under which the Company may repurchase up to US$200 million of its shares (including in the form of American depositary shares). The Company's proposed repurchases may be made from time to time on the ...

Financial Performance - Revenues for Q4 2023 were RMB1,580.2 million (US$222.6 million), a 46.0% increase from RMB1,082.3 million in Q4 2022[2] - Full year revenues for 2023 reached RMB5,952.0 million (US$838.3 million), up 31.9% from RMB4,511.1 million in 2022[14] - Total revenues for the three months ended December 31, 2023, were RMB 1,580,231 thousand, representing a 46.3% increase from RMB 1,082,275 thousand in the same period of 2022[35] - Revenues for the year ended December 31, 2023, reached RMB 5,952,028, up from RMB 4,511,062 in 2022, indicating a year-over-year increase of about 32.2%[44] Customer Growth - Total paid enterprise customers increased to 5.2 million, a 44.4% rise from 3.6 million in the previous year[2] - Average monthly active users (MAU) for Q4 2023 were 41.2 million, a 33.3% increase from 30.9 million in Q4 2022[3] Profitability - Net income for Q4 2023 was RMB331.2 million (US$46.7 million), compared to a net loss of RMB184.8 million in Q4 2022[10] - The net income attributable to ordinary shareholders for the year ended December 31, 2023, was RMB 1,099,218 thousand, a significant increase from a net loss of RMB 184,793 thousand in 2022[35] - Adjusted net income for the full year 2023 was RMB2,156.2 million (US$303.7 million), up from RMB799.4 million in 2022[20] - Adjusted net income attributable to ordinary shareholders for the year ended December 31, 2023, was RMB 2,156,194, a substantial rise from RMB 799,449 in 2022, marking an increase of around 169.5%[44] Cash Flow and Liquidity - Cash and cash equivalents as of December 31, 2023, totaled RMB12,909.6 million (US$1,818.3 million)[13] - Net cash provided by operating activities for the year ended December 31, 2023, was RMB 3,047,009, compared to RMB 1,003,042 in 2022, reflecting a significant increase of approximately 203.5%[41] - Cash and cash equivalents at the end of the period decreased from RMB 9,751,824 in 2022 to RMB 2,472,959 in 2023, a decline of approximately 74.7%[41] Cost Management - The company reported a total operating cost and expenses of RMB 1,363,251 thousand for the three months ended December 31, 2023, down from RMB 1,426,113 thousand in the same period of 2022, indicating a cost reduction strategy[35] - Research and development expenses for the year ended December 31, 2023, were RMB 1,543,568 thousand, an increase from RMB 1,182,716 thousand in 2022, reflecting the company's commitment to innovation[35] Shareholder Equity and Investments - The company’s total shareholders' equity increased from RMB 11,640,763 in 2022 to RMB 13,429,193 in 2023, reflecting a growth of about 15.4%[39] - The company’s long-term investments grew to RMB 2,473,128 in 2023, compared to zero in 2022, indicating a strategic expansion in investment activities[39] Future Outlook - The company expects Q1 2024 revenues to be between RMB1.64 billion and RMB1.67 billion, reflecting a year-on-year increase of 28.3% to 30.7%[25] Financial Metrics - Calculated cash billings for Q4 2023 were RMB1,780.4 million (US$250.8 million), a 61.2% increase from RMB1,104.5 million in Q4 2022[2] - Calculated cash billings for the year ended December 31, 2023, were RMB 6,685,211, up from RMB 4,613,384 in 2022, representing an increase of approximately 45.0%[44] - The company emphasizes the importance of non-GAAP financial measures, such as calculated cash billings, to provide insights into cash generated from sales and monitor service demand[28] Company Overview - KANZHUN LIMITED operates the leading online recruitment platform BOSS Zhipin in China, leveraging a large and diverse user base to enhance recruitment efficiency and drive rapid expansion[33]

BEIJING, Feb. 29, 2024 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in China, today announced that it will report its unaudited consolidated results for the fourth quarter and full year ended December 31, 2023, before the U.S. market opens on Tuesday, March 12, 2024. The Company will host a conference call on Tuesday, March 12, 2024 at 8:00PM Beijing Time (8:00AM U.S. Eastern Time) to discuss the results. Participants ar ...

KANZHUN LIMITED Sponsored ADR (BZ) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Si ...

Ceva (CEVA) recently launched the RivieraWaves Wi-Fi 7 IP platform, which focuses on leveraging the latest IEEE 802.11be standard. The platform is claimed to offer all the features, including channel bandwidth up to 320 MHz supported by 6GHz band, multiple input, multiple output configuration of up to 16 x 16 and 4K Quadrature Amplitude Modulation.CEVA is already leading the WiFi IP segment with approximately 40 Wi-Fi 6 licensing till now. With its latest introduction of RivieraWaves Wi-Fi 7 IP, the company ...

Investors are lowering their expectations for interest rate cuts this year. Numerous analysts believe that, even with a gradual reduction in the federal rate, monetary policy will remain restrictive, potentially impacting economic activities adversely. The uncertainty may make the market volatile, prompting an immediate need to construct a portfolio comprising low-beta stocks. Such securities are expected to yield strong returns and provide a safeguard against choppy market conditions.In this regard, stocks ...

Exhibit 99.1 KANZHUN LIMITED Environmental, Social and Governance Report ...

Kanzhun Limited (NASDAQ:BZ) Q2 2023 Earnings Conference Call August 29, 2023 8:00 AM ET Company Participants Wenbei Wang - Head of Investor Relations Jonathan Peng Zhao - Founder, Chairman and Chief Executive Officer Phil Yu Zhang - Director and Chief Financial Officer Conference Call Participants Eddy Wang - Morgan Stanley Timothy Zhao - Goldman Sachs Yu Bai - Haitong International Wei Xiong - UBS Yang Bai - CICC Operator Ladies and gentlemen, thank you for standing by, and welcome to the Kanzhun Limited S ...