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 ...

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Financial Performance - For Q3 2023, the revenue was RMB 1,606.6 million (USD 220.2 million), an increase of 36.3% compared to RMB 1,178.6 million in Q3 2022[5] - The calculated cash receipts for Q3 2023 were RMB 1,635.8 million (USD 224.2 million), up 32.1% from RMB 1,238.2 million in the same period last year[5] - Net profit for Q3 2023 was RMB 425.7 million (USD 58.3 million), up 101.1% from RMB 211.7 million in Q3 2022[5] - Adjusted net profit for Q3 2023 was RMB 714.1 million (USD 97.9 million), an increase of 89.6% from RMB 376.6 million in the same quarter last year[5] - Operating profit for Q3 2023 was RMB 261.0 million (USD 35.8 million), an increase of 89.3% compared to RMB 137.9 million in Q3 2022[8] - Total revenue for the three months ended September 30, 2023, was RMB 1,606,636 thousand, representing a year-over-year increase of 36.3% from RMB 1,178,563 thousand in the same period of 2022[20] - Net profit for the three months ended September 30, 2023, was RMB 425,717 thousand, a significant increase of 100.5% compared to RMB 211,717 thousand in the same period of 2022[20] - Adjusted net profit for the nine months ended September 30, 2023, was RMB 1,527,538, a substantial increase of 106.5% from RMB 739,999 for the same period in 2022[24] User Metrics - The average monthly active users reached 44.6 million, a 37.7% increase from 32.4 million in Q3 2022[5] - The total number of paying enterprise customers was 4.9 million, a 32.4% increase from 3.7 million in the previous year[5] Expenses and Costs - The operating costs and expenses totaled RMB 1,358.7 million (USD 186.2 million), a 30.1% increase from RMB 1,044.1 million in Q3 2022[7] - Research and development expenses for Q3 2023 were RMB 414.4 million (USD 56.8 million), a 42.8% increase from RMB 290.2 million in Q3 2022[7] - The company reported a total operating cost of RMB 1,358,727 thousand for the three months ended September 30, 2023, which is an increase of 30.1% from RMB 1,044,125 thousand in the same period of 2022[20] Cash Flow and Assets - Cash flow from operating activities for Q3 2023 was RMB 812.6 million (USD 111.4 million), an increase of 121.7% compared to RMB 366.6 million in Q3 2022[10] - As of September 30, 2023, cash and cash equivalents totaled RMB 12,799.2 million (USD 1,754.3 million)[10] - Cash flow from operating activities for the nine months ended September 30, 2023, was RMB 2,120,172, compared to RMB 847,499 for the same period in 2022, indicating a significant increase of 150.3%[23] - Total assets increased to RMB 17,323,613 as of September 30, 2023, from RMB 14,826,867 as of December 31, 2022, reflecting a growth of 16.8%[22] - Cash and cash equivalents decreased to RMB 2,444,620 as of September 30, 2023, from RMB 9,751,824 at the beginning of the year, a decline of 74.9%[23] Shareholder Returns - The board approved a special cash dividend of approximately USD 80 million, reflecting the company's commitment to providing sustainable value to shareholders[5] - The company announced a special cash dividend of USD 0.09 per ordinary share and USD 0.18 per American Depositary Share, totaling approximately USD 80 million[11] Future Outlook - The company expects total revenue for Q4 2023 to be between RMB 1.51 billion and RMB 1.55 billion, representing a year-over-year increase of 39.6% to 43.3%[14] - A new share repurchase plan was approved in March 2023, allowing the company to repurchase up to USD 150 million of its shares within the next 12 months[13] - The company plans to continue expanding its user base and enhancing its mobile application features to improve recruitment efficiency and drive growth[20] Conference and Reporting - The company will hold a conference call on November 14, 2023, to discuss financial performance[15] - The company utilizes non-GAAP financial metrics to assess business performance, including adjusted net profit and adjusted earnings per share[17] Earnings Per Share - The diluted earnings per share for the three months ended September 30, 2023, was RMB 0.47, compared to RMB 0.23 in the same period of 2022[20] - The basic adjusted earnings per share for the three months ended September 30, 2023, was RMB 0.82, compared to RMB 0.43 for the same period in 2022, reflecting an increase of 90.7%[24]

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

Financial Performance - Revenue for the first half of 2023 reached RMB 2,765.2 million, representing a 22.9% increase compared to RMB 2,250.2 million in the same period of 2022[6] - Net profit for the first half of 2023 was RMB 342.3 million, a significant increase of 326.1% from RMB 80.3 million in the first half of 2022[6] - Adjusted net profit (non-GAAP) for the first half of 2023 was RMB 813.5 million, up 123.9% from RMB 363.4 million in the same period of 2022[6] - The company reported a pre-tax profit of RMB 383.7 million for the first half of 2023, a remarkable increase of 306.3% from RMB 94.4 million in the same period of 2022[6] - Total revenue increased by 22.9% from RMB 2,250.2 million in the first half of 2022 to RMB 2,765.2 million in the first half of 2023[19] - Revenue from online recruitment services for enterprise clients rose by 22.6% to RMB 2,730.9 million in the first half of 2023, compared to RMB 2,227.2 million in the same period of 2022[22] - Other services revenue, primarily from paid value-added services for job seekers, increased by 49.1% to RMB 34.3 million in the first half of 2023 from RMB 23.0 million in the first half of 2022[22] - Operating profit grew by 33.8% from RMB 73.0 million in the first half of 2022 to RMB 97.7 million in the first half of 2023[27] User Engagement - Average monthly active users reached 41.7 million in the first half of 2023, a 61.0% increase from 25.9 million in the first half of 2022[9] - The average daily active users to monthly active users ratio was 26.8% in the first half of 2023, consistent with the previous year[9] - The company reported a significant increase in daily active users, with a total of 1.5 million users logging in at least once per day on the BOSS recruitment mobile application[118] - The company reported a total of 55 million monthly active users as of June 30, 2023, indicating a significant user engagement[119] Operational Efficiency - The company aims to enhance operational efficiency to achieve sustainable high-quality growth in the future[10] - The company continues to focus on technology innovation and user experience optimization to strengthen its leadership in the online recruitment market in China[9] - The company is committed to continuous improvement in its operational efficiency and cost management strategies to enhance profitability[118] Expenses and Costs - Operating costs rose by 47.2% to RMB 517.5 million in the first half of 2023, up from RMB 351.6 million in the first half of 2022[23] - Marketing expenses increased by 19.4% to RMB 1,100.4 million in the first half of 2023, compared to RMB 921.9 million in the first half of 2022[24] - R&D expenses grew by 16.8% to RMB 699.0 million in the first half of 2023 from RMB 598.4 million in the first half of 2022[25] - General and administrative expenses increased by 16.3% to RMB 367.6 million in the first half of 2023, up from RMB 316.0 million in the first half of 2022[26] Cash Flow and Financial Position - As of June 30, 2023, total cash and cash equivalents, time deposits, and short-term investments amounted to RMB 12.8 billion, with a net cash flow from operating activities of RMB 1.3 billion for the first half of 2023[29] - The group had no interest-bearing bank or other borrowings as of June 30, 2023, resulting in a debt-to-equity ratio of zero[30][32] - Cash and cash equivalents decreased to RMB 2,740,769 thousand as of June 30, 2023, from RMB 9,751,824 thousand as of December 31, 2022, a decline of 71.9%[66] - Total assets increased to RMB 16,382,801 thousand as of June 30, 2023, from RMB 14,826,867 thousand as of December 31, 2022, representing a growth of 10.5%[66] - Total liabilities rose to RMB 3,550,793 thousand as of June 30, 2023, compared to RMB 3,186,104 thousand as of December 31, 2022, an increase of 11.5%[66] Corporate Governance - The company has complied with all provisions of the corporate governance code, except for the separation of roles between the Chairman and CEO, which is held by Mr. Zhao[38] - The company has established a corporate governance committee to ensure compliance with regulations and protect shareholder interests[43] - The corporate governance committee consists of three independent non-executive directors, with Zhao Peng serving as the chairman[43] Share Structure and Incentives - The company has a dual-class share structure, with Class A shares granting one vote and Class B shares granting ten votes, allowing significant voting control to Mr. Zhao, who holds approximately 16.2% of the issued shares[36] - The company has a total of 19,355,262 Class A shares reserved for future grants under the share incentive plan, which will affect voting rights if exercised[36] - The board of directors has approved a share incentive plan to motivate key employees, which is expected to drive productivity and innovation[120] Future Outlook - The company has outlined future performance guidance, aiming for a revenue growth rate of 20% year-over-year for the next fiscal year[118] - The company plans to expand its market presence in Southeast Asia, targeting a 15% increase in user acquisition by the end of 2024[120] - New product launches are expected to contribute an additional RMB 300 million in revenue for the second half of 2023[120] - A strategic acquisition is in progress, which is projected to enhance the company's market share by 10%[120]

Financial Data and Key Metrics Changes - The company reported a GAAP revenue of RMB1.49 billion for Q2 2023, representing a 34% year-over-year increase and a 16% quarter-on-quarter growth [5][11] - Calculated cash billings reached RMB1.62 billion, up 65% year-on-year [5][12] - Net income for the quarter was approximately RMB310 million, with adjusted net income increasing by 135% year-on-year to around RMB570 million, marking the highest quarterly record in the company's operational history [5][15] - Adjusted operating margin improved to 29.2%, up by 8.8 percentage points year-on-year [13][15] - Cash, cash equivalents, and short-term investments totaled RMB12.8 billion as of June 30, 2023 [16] Business Line Data and Key Metrics Changes - Average monthly active users (MAU) on the BOSS Zhipin app rose to 43.6 million, up 65% year-on-year [5][11] - The revenue contribution from blue-collar users increased to over 32% of total revenues for the quarter [7] - Total paid enterprise customers reached a record-high of 4.5 million, up 18% year-on-year and 13% quarter-on-quarter [8][12] Market Data and Key Metrics Changes - Recruitment demand in sectors such as catering, hotel, tourism, beauty, personal care, and logistics has significantly increased [6] - The number of active enterprise users reached a new high, indicating a recovery in recruitment demand since the beginning of August [9] Company Strategy and Development Direction - The company continues to invest in algorithms and products to enhance service capabilities, particularly targeting blue-collar workers and SMEs [8] - The strategy focuses on increasing market share and improving technology investments to adapt to changing market conditions [35] - The company aims to capture growth opportunities in lower-tier cities and blue-collar populations [8][35] Management's Comments on Operating Environment and Future Outlook - Management noted a quick recovery in recruitment demand following the graduation season in July, with a promising upward trend observed since early August [9] - The company expects total revenues for Q3 2023 to be between RMB1.53 billion and RMB1.56 billion, reflecting a year-on-year increase of 30% to 32% [17] Other Important Information - The company has initiated a share buyback program with a total size of RMB150 million, reflecting its strong cash position and commitment to shareholder returns [40] Q&A Session Summary Question: What factors will impact white-collar recruitment demand? - Management indicated that the recovery of white-collar recruitment is influenced by macroeconomic improvements and industry recovery trends [20][22] Question: Are new annual subscription enterprise users from existing platforms or new customers? - Most new annual contract customers are converted from existing users, with an increasing trend of customers switching from competitors [20][21] Question: What strategies are in place to improve ARPU and paying ratio of enterprise users? - The company is cautious about monetizing job seekers and focuses on converting more users into paid customers [26][27] Question: What is the outlook for operating margin in the second half? - Management expects operating margins to maintain a healthy level with potential for improvement, subject to seasonality [30] Question: How does the company view its competitive advantages in the blue-collar recruitment space? - The company highlighted its strong double-sided network effect and continuous investment in technology as key competitive advantages [43][44]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 2,765,161 thousand, representing a 22.9% increase from RMB 2,250,224 thousand in the same period of 2022[2] - Operating profit increased by 33.8% to RMB 97,732 thousand for the six months ended June 30, 2023, compared to RMB 73,029 thousand in the prior year[2] - Net profit surged by 326.1% to RMB 342,260 thousand for the six months ended June 30, 2023, up from RMB 80,321 thousand in the same period of 2022[2] - Adjusted net profit (non-GAAP) reached RMB 813,453 thousand, a 123.9% increase from RMB 363,367 thousand in the same period of 2022[2] - Total revenue increased by 22.9% from RMB 2,250.2 million in the first half of 2022 to RMB 2,765.2 million in the first half of 2023[16] - Revenue from online recruitment services for corporate clients rose by 22.6% to RMB 2,730.9 million in the first half of 2023, compared to RMB 2,227.2 million in the same period of 2022[15] - The company achieved a net profit of RMB 309.6 million and an adjusted net profit of RMB 568.5 million in Q2 2023, both representing historical highs for the company[6] - The company reported a pre-tax profit of RMB 383,740 thousand for the six months ended June 30, 2023, up from RMB 94,444 thousand in the same period of 2022, indicating a growth of approximately 305.5%[40] User Engagement - Average monthly active users (MAUs) increased by 61.0% to 41.7 million for the six months ended June 30, 2023, compared to 25.9 million in the same period of 2022[5] - The average daily active users (DAUs) as a percentage of MAUs remained stable at 26.8% for the first half of 2023[5] Expenses and Investments - Marketing expenses rose by 19.4% to RMB 1,100.4 million in the first half of 2023, compared to RMB 921.9 million in the first half of 2022[18] - Research and development expenses increased by 16.8% to RMB 699.0 million in the first half of 2023, up from RMB 598.4 million in the same period of 2022[19] - The company invested RMB 100.0 million in August 2023 to acquire approximately 1.38% equity in a technology company[59] Cash and Assets - Cash and cash equivalents, along with short-term investments, totaled RMB 12.8 billion as of June 30, 2023[24] - Cash and cash equivalents decreased to RMB 2,740,769 thousand as of June 30, 2023, down from RMB 9,751,824 thousand as of December 31, 2022, a decline of approximately 71.9%[41] - Total assets increased to RMB 16,382,801 thousand as of June 30, 2023, from RMB 14,826,867 thousand as of December 31, 2022, representing a growth of approximately 10.5%[41] - The total amount of fixed deposits and short-term investments grew from RMB 3,458.1 million as of December 31, 2022, to RMB 10,050.1 million as of June 30, 2023, an increase of about 190.5%[53] Corporate Governance and Shareholder Communication - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited consolidated financial statements for the six months ended June 30, 2023[37] - The company complied with all corporate governance codes during the reporting period, except for the separation of roles between the chairman and CEO[35] - The announcement reflects the company's commitment to corporate governance[60] - The board is actively involved in overseeing the company's operations and performance[60] - The company is focused on transparency and timely communication with stakeholders[60] - The interim report will include key financial metrics and operational highlights[60] Future Outlook and Strategy - The company continues to focus on technology innovation and user experience optimization to strengthen its leadership in the online recruitment market in China[5] - The company is confident in further improving operational efficiency to achieve sustainable high-quality growth in the future[6] - The company plans to enhance its technology infrastructure and optimize data analytics and deep learning capabilities to improve user experience[14] - The company aims to expand its user base across various industries and regions in the second half of 2023[14] Share Repurchase and Debt - The company approved a share repurchase plan allowing for the buyback of up to $150 million worth of shares over the next 12 months[13] - The company repurchased a total of 721,426 American Depositary Shares (equivalent to 1,442,852 Class A ordinary shares) for a total consideration of $9,999,822.98 during the reporting period[38] - The highest price paid per share during the buyback was $7.185, while the lowest was $6.585[38] - The company's debt ratio was zero as of June 30, 2023, with no borrowings reported[29] Tax and Liabilities - Total income tax expense surged from RMB 14.1 million in 2022 to RMB 41.5 million in 2023, marking an increase of approximately 194.5%[50] - The deferred income tax expense for 2023 was RMB 14.4 million, indicating the company’s strategic tax planning efforts[50] - The total liabilities for other payables and accrued liabilities decreased from RMB 633.5 million as of December 31, 2022, to RMB 520.0 million as of June 30, 2023, a reduction of about 17.8%[58] Employee Statistics - The company had a total of 5,434 employees as of June 30, 2023, with 49.7% in sales and marketing, 24.8% in R&D, and 20.4% in operations[32] Legal and Regulatory Matters - The company has not been involved in any significant litigation or arbitration during the reporting period[39] - There were no major events after the reporting period that could impact the company[39]

Financial Performance - For Q2 2023, the revenue was RMB 1,487.6 million (USD 205.2 million), an increase of 33.7% compared to RMB 1,112.3 million in Q2 2022[4] - The calculated cash receipts for Q2 2023 were RMB 1,619.5 million (USD 223.3 million), up 65.4% from RMB 979.2 million in the same period last year[4] - The net profit for Q2 2023 was RMB 309.6 million (USD 42.7 million), a significant increase of 234.7% from RMB 92.5 million in Q2 2022[4] - The adjusted net profit for Q2 2023 was RMB 568.5 million (USD 78.4 million), up 134.6% from RMB 242.3 million in the same quarter last year[4] - Operating profit for Q2 2023 was RMB 175.0 million (USD 24.1 million), an increase of 129.4% compared to RMB 76.3 million in Q2 2022[8] - Total revenue for the three months ended June 30, 2023, was RMB 1,487,615 thousand, representing a 33.7% increase from RMB 1,112,344 thousand in the same period of 2022[18] - Net profit attributable to ordinary shareholders for the three months ended June 30, 2023, was RMB 309,597 thousand, a significant increase of 234.5% compared to RMB 92,493 thousand in the same period of 2022[18] - Total revenue for the six months ended June 30, 2023, was RMB 2,765,161,000, representing a year-over-year increase from RMB 2,250,224,000[22] - Net profit for the three months ended June 30, 2023, was RMB 309,597,000, compared to RMB 92,493,000 for the same period in 2022, reflecting a significant increase[22] - Adjusted net profit for the six months ended June 30, 2023, was RMB 813,453,000, compared to RMB 363,367,000 for the same period in 2022[22] User and Customer Growth - The average monthly active users reached 43.6 million, a 64.5% increase from 26.5 million in Q2 2022[4] - The total number of paying enterprise customers was 4.5 million, an 18.4% increase from 3.8 million as of June 30, 2022[4] Expenses and Costs - Operating costs and expenses totaled RMB 1,310.8 million (USD 180.8 million), a 25.8% increase from RMB 1,041.8 million in Q2 2022[6] - Marketing expenses for Q2 2023 were RMB 471.6 million (USD 65.0 million), an 18.0% increase from RMB 399.5 million in Q2 2022[7] - R&D expenses for Q2 2023 were RMB 365.9 million (USD 50.5 million), an 18.9% increase from RMB 307.7 million in Q2 2022[7] - The company reported a total operating cost of RMB 1,310,808 thousand for the three months ended June 30, 2023, which is a 25.8% increase from RMB 1,041,790 thousand in the same period of 2022[18] - Research and development expenses for the six months ended June 30, 2023, totaled RMB 698,975 thousand, an increase of 16.8% from RMB 598,425 thousand in the same period of 2022[18] Cash Flow and Investments - Net cash flow from operating activities for Q2 2023 was RMB 763.7 million (USD 105.3 million), representing a 308.6% increase from RMB 186.9 million in Q2 2022[10] - Cash flow from operating activities for the six months ended June 30, 2023, was RMB 1,307,618,000, up from RMB 480,948,000 in the same period of 2022[21] - The company reported a net cash outflow from investing activities of RMB (8,390,368,000) for the six months ended June 30, 2023, compared to RMB (97,909,000) for the same period in 2022[21] Future Outlook - The company expects total revenue for Q3 2023 to be between RMB 1.53 billion and RMB 1.56 billion, reflecting a year-over-year increase of 29.8% to 32.3%[12] - The company aims to enhance operational efficiency for sustainable high-quality growth in the future[5] Shareholder Information - Basic and diluted earnings per American Depositary Share for Q2 2023 were RMB 0.71 (USD 0.10) and RMB 0.69 (USD 0.09), respectively, compared to RMB 0.21 and RMB 0.20 in Q2 2022[9] - Adjusted earnings per American Depositary Share for Q2 2023 were RMB 1.31 (USD 0.18) and RMB 1.26 (USD 0.17), up from RMB 0.56 and RMB 0.53 in the same period last year[9] - The board approved a share repurchase plan in March 2023, allowing the company to repurchase up to USD 150 million worth of shares over the next 12 months[11] Financial Position - As of June 30, 2023, cash and cash equivalents, along with short-term investments, totaled RMB 12,790.8 million (USD 1,763.9 million)[11] - Total assets increased from RMB 14,826,867,000 as of December 31, 2022, to RMB 16,382,801,000 as of June 30, 2023[20] - Cash and cash equivalents decreased from RMB 9,751,824,000 at the end of 2022 to RMB 2,740,769,000 by June 30, 2023[21] - Deferred revenue increased from RMB 2,060,892,000 as of December 31, 2022, to RMB 2,564,777,000 as of June 30, 2023[20] - The total liabilities rose from RMB 3,186,104,000 at the end of 2022 to RMB 3,550,793,000 by June 30, 2023[20] - The company’s total equity increased from RMB 11,640,763,000 as of December 31, 2022, to RMB 12,832,008,000 as of June 30, 2023[20] Non-GAAP Metrics - The company emphasizes the importance of non-GAAP financial metrics to assess operational performance and trends[15]