Core Insights - Kanzhun Limited reported quarterly earnings of $0.3 per share, matching the Zacks Consensus Estimate and showing an increase from $0.23 per share a year ago [1] - The company achieved revenues of $303.87 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 0.95% and up from $272.4 million year-over-year [2] - Kanzhun shares have increased approximately 48.7% year-to-date, significantly outperforming the S&P 500's gain of 13.4% [3] Earnings Performance - The company has surpassed consensus EPS estimates three out of the last four quarters, with a surprise of +3.57% in the previous quarter [1] - The current consensus EPS estimate for the upcoming quarter is $0.29, with expected revenues of $289.36 million, and for the current fiscal year, the estimate is $1.13 on $1.15 billion in revenues [7] Market Outlook - The sustainability of Kanzhun's stock price movement will largely depend on management's commentary during the earnings call [3] - The Zacks Rank for Kanzhun is currently 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] - The Internet - Software industry, to which Kanzhun belongs, is currently ranked in the top 25% of over 250 Zacks industries, suggesting a favorable outlook [8]

Financial Data and Key Metrics Changes - In Q3 2025, the company generated total revenue of RMB 2.16 billion, representing a year-on-year increase of 13.2% [5] - Adjusted operating profit reached RMB 900 million, up 49.3% year on year [5] - GAAP net profit was RMB 780 million, reflecting a 67.2% year-on-year increase, with a net profit margin of 35.8% [5][21] - Share-based compensation expenses decreased to RMB 220 million, marking a 21% year-on-year drop [5] - Net cash provided by operating activities reached RMB 1.2 billion, up 45% year on year [22] Business Line Data and Key Metrics Changes - The average verified monthly active users (MAU) on the BOSS Zhipin app reached 63.82 million, with user activity remaining strong [6] - Newly posted job positions increased by 25% year on year, indicating a rebound in enterprise-side demand [7] - The number of paid enterprise customers grew by 13.3% year on year to 6.8 million [7][17] Market Data and Key Metrics Changes - Blue-collar revenue growth led the market, with manufacturing industries showing the highest revenue growth for five consecutive quarters [8] - Demand in tier-one cities is rebounding, while tier-two cities remain stable, and revenue contribution from tier-three cities continues to rise [10] Company Strategy and Development Direction - The company is focusing on integrating AI into its products and operations, with significant progress in AI Job Search Assistant and AI interview features [11][12] - The strategy includes improving the online job search environment for blue-collar workers and enhancing user trust through initiatives like the KONGE Project [9] Management's Comments on Operating Environment and Future Outlook - Management noted a recovery in recruitment activities, with improved hiring demand contributing to accelerated revenue growth [25][28] - The company expects total revenue for Q4 2025 to be between RMB 2.05 billion and RMB 2.07 billion, indicating continued growth momentum [22] Other Important Information - The company completed an annual dividend payment of approximately $80 million in October [16] - The overall ARPPU remained stable despite structural shifts in customer mix [17] Q&A Session Summary Question: What is the overall recruitment demand recently? - Management observed that recruitment activities from enterprises recovered in Q3, with a faster growth rate of enterprise users compared to job seekers, alleviating pressure on the platform [25][26] Question: What is the perception of KA renewal willingness? - The company noted improving contract renewal rates, particularly in Q3, signaling a potential turning point in company-level net dollar retention rates [30] Question: How much more market share can the company gain over peers? - The company highlighted that over 80% of paid enterprise customers are small and micro enterprises, indicating ample room for growth in market share [35] Question: What are the major investment areas for next year? - Management indicated that profitability will not be sacrificed for revenue growth, with a focus on user service and revenue growth as higher priorities [37] Question: What is the impact of AI on the recruitment industry? - The company is cautiously exploring AI applications in recruitment, noting that high-quality data is critical for success in this evolving landscape [45]

Financial Data and Key Metrics Changes - In Q3 2025, the company generated total revenue of RMB 2.16 billion, representing a year-on-year increase of 13.2% [5] - Adjusted operating profit reached RMB 900 million, up 49.3% year-on-year, while GAAP net profit was RMB 780 million, up 67.2% year-on-year, with a net profit margin of 35.8% [5][18] - Share-based compensation expenses decreased to RMB 220 million, marking a 21% year-on-year drop [5] - Net cash provided by operating activities reached RMB 1.2 billion, up 45% year-on-year, with a strong cash position of RMB 19.2 billion as of September 30, 2025 [22] Business Line Data and Key Metrics Changes - The average verified monthly active users (MAU) on the BOSS Zhipin app reached 63.82 million, with user activity remaining strong [6] - Newly posted job positions increased by 25% year-on-year, with the number of paid enterprise customers growing by 13.3% year-on-year to 6.8 million [7][17] - The average number of daily active enterprise users grew faster than job seekers for the first time in three years [7] Market Data and Key Metrics Changes - Blue-collar revenue growth led the market, with manufacturing industries showing the highest revenue growth for five consecutive quarters [8] - Demand in tier-one cities is rebounding, while revenue contribution from tier-three cities continues to rise [10] - Mid-to-large enterprises are growing the fastest among different enterprise sizes [10] Company Strategy and Development Direction - The company is focusing on integrating AI into its products and operations, with significant progress in AI Job Search Assistant and AI interview features [11][12] - The KONGE Project aims to improve the job search environment for blue-collar workers, enhancing user trust and combating false information [9] - The company plans to continue strengthening its core business capabilities while fulfilling commitments to shareholders [16] Management's Comments on Operating Environment and Future Outlook - Management noted a recovery in recruitment demand, with improved hiring conditions contributing to accelerated revenue growth [25][28] - The company expects total revenue for Q4 2025 to reach between RMB 2.05 billion and RMB 2.07 billion, indicating continued growth momentum [22] - Management expressed confidence in sustaining growth despite potential competitive pressures as the macro environment improves [35] Other Important Information - The company completed an annual dividend payment of approximately $80 million in October [16] - The overall ARPPU remained stable despite structural shifts in customer mix [18] Q&A Session Summary Question: What is the overall recruitment demand recently? - Management observed a recovery in recruitment activities, with improved ratios between job seekers and recruiters, indicating a healthier hiring environment [25][26] Question: What is the perception of KA renewal willingness? - The company noted improving contract renewal rates, particularly in Q3, signaling a potential turning point in customer retention and spending [30] Question: How can the company sustain above-peer growth? - The company highlighted that over 80% of paid enterprise customers are small and micro enterprises, indicating ample room for growth in market share [35] Question: What are the major investment areas for next year? - Management indicated that profitability will not be sacrificed for revenue growth, with a focus on user service and revenue growth as higher priorities [38] Question: What progress has been made in different verticals within the recruitment industry? - The company is cautiously exploring new services while integrating AI, with ongoing experiments showing promising results [42][44]

Financial Performance - In Q3 2025, the company generated total revenue of RMB 2.16 billion, representing a year-on-year increase of 13.2% [6][46] - Adjusted operating profit reached RMB 900 million, up 49.3% year on year [6] - GAAP net profit was RMB 780 million, a 67.2% increase year on year, with a net profit margin of 35.8% [8][50] - Share-based compensation expenses decreased by 21% year on year to RMB 220 million [8][47] - Net cash provided by operating activities was RMB 1.2 billion, up 45% year on year [51] Business Line Performance - The average verified monthly active users (MAU) on the BOSS Zhipin app reached 63.82 million, with over 40 million newly verified users acquired from January to October [10] - Newly posted job positions increased by 25% year on year, indicating a rebound in enterprise-side demand [12] - The number of paid enterprise customers grew by 13.3% year on year to 6.8 million [16][46] Market Performance - Blue-collar revenue growth led the sectors, with manufacturing industries showing the highest revenue growth for five consecutive quarters [19] - Participation from small and medium-sized enterprises in the white-collar industry increased, with a stable average spending per customer [28] - Demand in tier-one cities is rebounding, while revenue contribution from tier-three cities continues to rise [29] Company Strategy and Industry Competition - The company is focusing on integrating AI into its products and operations, with significant progress in AI Job Search Assistant and AI interview features [30][31] - The strategy includes improving the online job search environment for blue-collar workers and developing a user scale of double-sided users [20][26] - The competitive landscape is evolving, with traditional recruitment platforms facing pressure from AI companies entering the market [90][100] Management Comments on Operating Environment and Future Outlook - Management noted that recruitment activities from enterprises recovered in Q3, with improved hiring demand driving revenue growth [53][67] - The company expects total revenue for Q4 2025 to reach between RMB 2.05 billion and RMB 2.07 billion, indicating continued growth momentum [51] - The management emphasized a focus on profitability while also prioritizing user growth and market share expansion [86][87] Other Important Information - The company completed an annual dividend payment of approximately $80 million in October [45] - The overall ARPPU remained stable despite structural mix shifts [47] Q&A Session Summary Question: What is the overall recruitment demand recently? - Management confirmed that recruitment activities from enterprises recovered in Q3, with improved hiring demand driving accelerated revenue growth [53][67] Question: What is the perception of KA renewal willingness? - The company observed improving contract renewal rates, particularly in Q3, signaling a potential turning point in customer retention [69] Question: How can the company sustain above-peer growth? - The company highlighted that over 80% of paid enterprise customers are small and micro enterprises, indicating ample room for growth despite macro uncertainties [78] Question: What are the major investment areas for next year? - Management indicated that profitability will not be sacrificed for revenue growth, with a focus on user growth and maintaining a high margin profile [84][86]

Core Insights - BOSS Zhipin reported a Q3 revenue of RMB 21.63 billion, a year-on-year increase of 13.2%, and a net profit of RMB 7.75 billion, up 67.2%, achieving a record net profit margin of 35.8% [1][4][5] - The company anticipates Q4 revenue to be between RMB 20.5 billion and RMB 20.7 billion, reflecting a growth of 12.4% to 13.5% [1][7] Financial Performance - Q3 revenue from online recruitment services for corporate clients reached RMB 21.5 billion, growing 13.6% year-on-year [4] - Adjusted net profit for Q3 was RMB 9.92 billion, a 34.2% increase [5] - Operating profit for Q3 was RMB 6.87 billion, up 108.1% year-on-year [5] Cost Management - Total operating costs and expenses decreased by 7.0% year-on-year to RMB 14.8 billion [6] - Marketing expenses fell by 24.6% to RMB 3.94 billion, while R&D expenses decreased by 12.1% to RMB 4.08 billion [6] - The effective cost control contributed to an increase in net profit margin by 11.5 percentage points [6] Customer Growth - The total number of paying corporate clients reached 6.8 million, a year-on-year increase of 13.3% [4] - Average monthly active users (MAU) rose to 63.8 million, a 10.0% increase from the previous year [4] AI Integration - The company is integrating AI technology into its operations to enhance user experience and service capabilities [7] - There is a cautious exploration of AI-driven full-process recruitment services [7] Shareholder Returns - The board approved an extension of the share buyback plan for an additional 12 months, allowing for the repurchase of up to USD 250 million in shares [7]

KANZHUN LIMITED 3Q 2025 Results Presentation Disclaimer The following document has been prepared by KANZHUN LIMITED ("BOSS Zhipin" or the "Company") solely for informational purposes and should not be construed to be, directly or indirectly, in whole or in part, an offer to buy or sell and/or an invitation and/or a recommendation and/or a solicitation of an offer to buy or sell any security or instrument or to participate in any investment or trading strategy, nor shall any part of it form the basis of, or ...

Core Insights - BOSS Zhipin reported Q3 2025 revenue of 2.16 billion yuan, representing a year-on-year growth of 13.2% [1] - The majority of the company's revenue, 2.15 billion yuan, came from online recruitment services for corporate clients [1] - As of September 30, 2025, the number of paying corporate clients reached 6.8 million, an increase of 13.3% year-on-year [1] - The company noted a steady recovery in the recruitment market, with increasing penetration in blue-collar and lower-tier cities [1]

Core Insights - BOSS Zhipin (NASDAQ: BZ, HK: 2076) reported its Q3 2025 financial results on November 18, indicating a steady recovery in the recruitment market and increased penetration in blue-collar and lower-tier cities [1] Financial Performance - The company achieved revenue of 2.16 billion yuan, representing a year-on-year growth of 13.2% [1] - Revenue primarily came from online recruitment services for corporate clients, amounting to 2.15 billion yuan [1] Client Growth - As of September 30, 2025, the number of paid corporate clients reached 6.8 million, reflecting a year-on-year increase of 13.3% [1]

Core Insights - The company reported a revenue of approximately 2.163 billion RMB for Q3 2025, representing a year-on-year increase of 13.2% [1] - Operating profit reached 687 million RMB, up 108.1% year-on-year, while net profit was 775 million RMB, reflecting a 67.2% increase [1] - Adjusted net profit was about 992 million RMB, marking a 34.2% year-on-year growth [1] - The average monthly active users increased to 63.8 million, a 10.0% rise compared to the previous year [1] - The total number of paying enterprise clients reached 6.8 million, up 13.3% from 6 million a year earlier [1] Financial Performance - The company expects Q4 2025 total revenue to be between 2.05 billion RMB and 2.07 billion RMB, indicating a year-on-year increase of 12.4% to 13.5% [1] - The net profit margin increased by 11.5 percentage points year-on-year, achieving a historical high [2] Strategic Initiatives - The company is integrating AI into its technology, products, and operations to enhance user experience and service capabilities [2] - There is a cautious exploration of AI recruitment services for full-process management or delivery in specific scenarios [2] - The company completed its annual dividend distribution in Q3, fulfilling its responsibility towards shareholder returns [2]

Core Insights - The company reported a revenue of approximately 2.163 billion RMB for Q3 2025, representing a year-on-year increase of 13.2% [1] - Operating profit reached 687 million RMB, up 108.1% year-on-year [1] - Net profit was 775 million RMB, reflecting a year-on-year increase of 67.2% [1] - Adjusted net profit was approximately 992 million RMB, marking a 34.2% year-on-year increase [1] - Average monthly active users grew to 63.8 million, a 10.0% increase year-on-year [1] - The total number of paid enterprise clients reached 6.8 million, up 13.3% from 6.0 million in the previous year [1] Financial Performance - The company expects Q4 2025 total revenue to be between 2.05 billion RMB and 2.07 billion RMB, indicating a year-on-year increase of 12.4% to 13.5% [1] - The net profit margin increased by 11.5 percentage points year-on-year, achieving a historical high [2] Strategic Initiatives - The company is integrating AI into its technology, products, and operations to enhance user experience and service capabilities [2] - There is a cautious exploration of AI recruitment services for full-process management or delivery in specific scenarios [2] - The company completed its annual dividend distribution in Q3, fulfilling its responsibility to shareholders [2]