Shares of Kanzhun (BZ -1.99%) climbed 13.2% this week, according to data provided by S&P Global Market Intelligence, after the China-based online recruitment platform released strong quarterly results and a new $200 million share repurchase authorization.To be sure, shares rose nearly 19% on Tuesday alone after Kanzhun's report hit the wires, but have since given back some of that single-day gain along with the broader market.How Kanzhun easily beat expectations this quarterKanzhun's cutting-edge recruitmen ...

Investment Rating - The report maintains a "Buy" rating for BOSS Zhipin (BZ) [1] Core Insights - The recruitment demand is showing marginal improvement, with blue-collar jobs continuing to contribute to growth [1] - In Q4 2023, the company achieved revenue of 1.58 billion yuan, a year-on-year increase of 46%, exceeding previous guidance [5] - The adjusted net profit for Q4 2023 reached 630 million yuan, surpassing market expectations [5] - The company’s cash flow reached 1.78 billion yuan in Q4 2023, reflecting a year-on-year growth of 61.2% [5] - The number of paid enterprises reached 5.2 million, a year-on-year increase of 44.4% [5] - The user structure is gradually optimizing, with blue-collar users contributing over 34% to revenue [5] - The gross margin for Q4 2023 was 82.6%, with a Non-GAAP net profit margin of 39.8% [5] Financial Forecasts - Revenue forecasts for 2024 and 2025 have been adjusted to 7.6 billion yuan and 9.6 billion yuan, respectively, with year-on-year growth rates of 28% and 26% [6] - Non-GAAP net profit forecasts for 2024 and 2025 have been adjusted to 2.7 billion yuan and 3.4 billion yuan, with growth rates of 24% and 27% [6] - The expected Non-GAAP PE ratios for 2024, 2025, and 2026 are 23x, 18x, and 15x, respectively [6] Market Data - The market capitalization of BOSS Zhipin is approximately 8.72 billion USD [3] - The stock price closed at 19.60 USD, with a 52-week range of 12.57 to 21.32 USD [6]

Investment Rating - The report maintains a "Buy" rating for BOSS Zhipin-W (2076) [4][6]. Core Views - The recruitment market is showing significant recovery, with the company experiencing an improvement in market conditions, expanding market share, and a continuous rise in profit margins [4]. - The adjusted net profit estimates for 2024 and 2025 have been raised to 2.648 billion and 3.810 billion RMB, respectively, reflecting an increase of 165 million and 617 million RMB [4]. - The company is positioned as a leading recruitment platform, with a target market capitalization of 79.4 billion RMB for 2024, corresponding to a target price of 98.33 HKD [4]. Financial Summary - Revenue for the latest quarter reached 1.580 billion RMB, representing a quarter-on-quarter increase of 4.01% [4]. - The net profit was reported at 331 million RMB, with an adjusted net profit of 628 million RMB, showing a significant recovery from a loss of 185 million RMB in the previous quarter [4]. - Monthly Active Users (MAU) increased to 41.2 million, a growth of 33% compared to the previous quarter [4]. - The number of annual paying enterprise users reached a record high of 5.2 million [4]. - The adjusted operating profit margin stood at 27.5% [4]. Market Dynamics - The demand for recruitment has stabilized since Q3 2023, with large enterprises showing a stronger recovery in hiring needs compared to small and medium enterprises [4]. - The active user ratio on the platform is shifting towards B-end users, indicating a positive trend in business client engagement [4]. - Sectors such as blue-collar services, machinery manufacturing, transportation logistics, and sales are experiencing upward trends in hiring demand [4].

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 ...

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 5,952,028, representing a 31.9% increase from RMB 4,511,062 in 2022[2] - Operating profit for 2023 was RMB 580,971, a significant recovery from an operating loss of RMB 129,519 in 2022[2] - Net profit surged to RMB 1,099,218 in 2023, up 925.0% from RMB 107,245 in 2022[2] - Adjusted net profit (non-GAAP) reached RMB 2,156,185, reflecting a 169.7% increase from RMB 799,449 in 2022[2] - Total revenue for the year ended December 31, 2023, was RMB 5,952,028, an increase from RMB 4,511,062 in the previous year, representing a growth of approximately 32.2%[32] - The company reported a net profit of RMB 1,099,218 for the year ended December 31, 2023, compared to RMB 107,245 in the previous year, indicating a significant increase[32] - The cash flow from operating activities for the year ended December 31, 2023, was RMB 3,047,009, up from RMB 1,003,042 in the previous year[34] - The company's total assets increased from RMB 14,826,867 as of December 31, 2022, to RMB 17,940,048 as of December 31, 2023, reflecting a growth of approximately 20.5%[33] - The company's total liabilities increased from RMB 3,186,104 as of December 31, 2022, to RMB 4,510,855 as of December 31, 2023[33] - The basic earnings per share increased significantly from RMB 0.12 in 2022 to RMB 1.26 in 2023, reflecting a growth of 950%[42] User Growth and Engagement - Average monthly active users (MAUs) grew by 47.4% to 42.3 million in 2023, compared to 28.7 million in 2022[5] - The number of paid enterprise customers reached a historical high of 5.2 million, contributing to a 44.9% increase in cash collections[6] - Revenue from key accounts (KA clients) rose from RMB 1,033.6 million in 2022 to RMB 1,261.7 million in 2023, marking an increase of about 22.0%[38] Cost and Expenses - Research and development expenses increased by 30.5% to RMB 1,543.6 million in 2023, primarily due to higher employee-related costs and technology investments[14] - Marketing expenses remained stable at RMB 1,991.2 million in 2023, compared to RMB 2,000.9 million in 2022, with a reduction in advertising costs offset by increased employee-related expenses[13] - Operating costs rose by 40.4% to RMB 1,059.9 million in 2023, mainly due to increased server and bandwidth costs[12] Shareholder Returns - A new share repurchase plan was approved by the board, allowing the company to repurchase up to USD 200 million of shares over the next 12 months starting March 20, 2024[9] - The company repurchased a total of 1,765,456 American Depositary Shares for a total consideration of $25,987,996.28 during the reporting period[28] - The company declared a special cash dividend of $0.09 per ordinary share, totaling approximately $79.2 million, which was fully paid in December 2023[49] Corporate Governance and Compliance - The audit committee reviewed the unaudited financial results for the year ended December 31, 2023, with no disagreements on accounting policies[27] - The company complied with all corporate governance codes during the reporting period, except for the separation of roles between the Chairman and CEO[24] Technology and Innovation - The company plans to enhance its technology infrastructure and optimize data analysis and deep learning capabilities to improve recommendation algorithms[9] - The company has developed a large model for generative AI services, which is the first of its kind in the recruitment industry to complete the filing under the "Interim Measures for the Management of Generative AI Services" in January 2024[9] Liabilities and Financial Position - The company has no significant contingent liabilities as of December 31, 2023[22] - The company has no major investment or capital asset future plans as of December 31, 2023[20] - The company does not use any derivative financial instruments to hedge foreign exchange risks but monitors currency risks regularly[21] Employee and Operational Metrics - The total number of employees as of December 31, 2023, was 5,346, with 49.3% in sales and marketing, 26.1% in R&D, 19.2% in operations, and 5.4% in general administration[23] - Customer advances increased to RMB 73,196 thousand in 2023 from RMB 58,630 thousand in 2022, showing a rise of 25%[48] Other Financial Metrics - The current income tax expense surged from RMB 427 thousand in 2022 to RMB 108,488 thousand in 2023, reflecting a significant increase of over 25,400%[41] - The amount payable for share repurchases was recorded at RMB 113,387 thousand in 2023, indicating a new liability category[48] - Other payables decreased significantly to RMB 17,832 thousand in 2023 from RMB 55,800 thousand in 2022, a decline of 68%[48]

Financial Performance - For Q4 2023, the revenue was RMB 1,580.2 million (USD 222.6 million), a 46.0% increase from RMB 1,082.3 million in Q4 2022[4] - For the full year 2023, the revenue reached RMB 5,952.0 million (USD 838.3 million), up 31.9% from RMB 4,511.1 million in 2022[4] - The net profit for Q4 2023 was RMB 331.2 million (USD 46.7 million), compared to a net loss of RMB 184.8 million in Q4 2022[4] - Adjusted net profit for Q4 2023 was RMB 628.6 million (USD 88.5 million), significantly up from RMB 59.5 million in Q4 2022[4] - The net profit for the year 2023 was RMB 1,099,218 thousand, compared to a net loss of RMB 107,245 thousand in 2022, marking a significant turnaround[22] - Adjusted net profit for the full year 2023 was RMB 2,156.2 million (USD 303.7 million), compared to RMB 799.4 million in 2022, driven by improved operational efficiency and increased interest and investment income[12] - The adjusted net profit for Q4 2023 was RMB 628,647 thousand, compared to a loss of RMB 184,793 thousand in Q4 2022, marking a turnaround of over 440%[25] User Metrics - The average monthly active users for Q4 2023 were 41.2 million, a 33.3% increase from 30.9 million in Q4 2022[4] - The total number of paying enterprise customers reached 5.2 million for the year, a 44.4% increase from 3.6 million in 2022[4] Operating Costs and Expenses - The operating costs for Q4 2023 totaled RMB 1,363.3 million (USD 192.0 million), a decrease of 4.4% from RMB 1,426.1 million in Q4 2022[6] - Total operating costs and expenses for the full year 2023 were RMB 5,406.4 million (USD 761.5 million), an increase of 16.1% from RMB 4,658.2 million in 2022[11] - Marketing expenses for Q4 2023 were RMB 433.5 million (USD 61.1 million), a 36.4% decrease from RMB 682.1 million in Q4 2022 due to reduced advertising costs[6] - R&D expenses for Q4 2023 were RMB 430.2 million (USD 60.6 million), an increase of 46.3% compared to RMB 294.1 million in Q4 2022, primarily due to higher employee-related costs and increased technology investments[7] Cash Flow and Liquidity - Operating cash flow for Q4 2023 was RMB 926.8 million (USD 130.5 million), a substantial increase from RMB 155.5 million in Q4 2022[9] - The net cash flow from operating activities for Q4 2023 was RMB 926,837 thousand, a significant increase from RMB 155,543 thousand in Q4 2022, representing a growth of 495%[24] - Cash and cash equivalents decreased to RMB 2,472,959 thousand as of December 31, 2023, down from RMB 9,751,824 thousand at the end of 2022[23] - The cash and cash equivalents at the end of Q4 2023 were RMB 2,472,959 thousand, a slight increase from RMB 2,444,620 thousand at the end of Q3 2022[24] - The company reported a net cash flow from financing activities of RMB (442,151) thousand in Q4 2023, down from RMB (627,954) thousand in Q4 2022, indicating reduced financing outflows[24] Future Outlook - The company expects total revenue for Q1 2024 to be between RMB 1.64 billion and RMB 1.67 billion, representing a year-over-year increase of 28.3% to 30.7%[16] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22] Recruitment Services - The online recruitment service revenue for enterprise clients in Q4 2023 was RMB 1,566.7 million (USD 220.7 million), a 46.5% increase from RMB 1,069.6 million in Q4 2022[5] - Revenue from online recruitment services for enterprise clients in 2023 was RMB 5,889.1 million (USD 829.5 million), up 32.0% from RMB 4,461.3 million in 2022, driven by user growth and engagement[10] Shareholder Returns - The company approved a new share repurchase plan in March 2024, allowing for the repurchase of up to USD 200 million of shares over a 12-month period[15] Financial Metrics and Definitions - The company utilizes non-GAAP financial metrics such as adjusted net profit and adjusted earnings per share to assess operational performance[19] - Non-GAAP financial metrics are not defined by US GAAP and should not replace the most directly comparable GAAP financial metrics[20] - The company emphasizes the importance of cash receipts as a key indicator of financial performance and service demand[19] - Cash receipts calculated from deferred revenue changes plus recognized income are used to measure sales growth, indicating strong service demand[19] Company Overview - The company operates China's leading online recruitment platform "BOSS Zhipin," which connects job seekers and corporate users through a highly interactive mobile application[21] - The mobile application focuses on intelligent recommendations and creates new scenarios in the online recruitment process[21] - The strong network effect from a large and diverse user base enhances recruitment efficiency and drives rapid expansion[21]

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 ...