BOSS ZHIPIN(BZ) - 2024 Q3 - Quarterly Report

Customer Growth - Total paid enterprise customers increased by 22.4% to 6.0 million for the twelve months ended September 30, 2024, compared to 4.9 million for the same period in 2023[4] - Average monthly active users (MAU) grew by 30.0% to 58.0 million in Q3 2024, up from 44.6 million in Q3 2023[4] Financial Performance - Revenues for Q3 2024 were RMB1,911.6 million (US$272.4 million), representing a 19.0$66.1 million), an increase of 8.9% from RMB425.7 million in Q3 2023[6] - Adjusted income from operations for Q3 2024 was RMB605.3 million (US$86.2 million), reflecting a 10.2$269.2 million) in Q3 2024, up 18.7% from RMB1,591.5 million in Q3 2023[9] - Total revenues for the three months ended September 30, 2024, were RMB 1,911,575, representing a 19% increase from RMB 1,606,636 in the same period of 2023[34] - Online recruitment services to enterprise customers generated RMB 1,889,102 in revenue for the three months ended September 30, 2024, up from RMB 1,591,500, reflecting a growth of 19%[34] - Net income attributable to ordinary shareholders for the nine months ended September 30, 2024, was RMB 1,122,801, compared to RMB 767,977 for the same period in 2023, marking a 46% increase[34] Cash Flow and Assets - The company reported a net cash provided by operating activities of RMB 812,290 for the three months ended September 30, 2024[40] - The balance of cash and cash equivalents as of September 30, 2024, was RMB14,599.5 million (US$2,080.4 million)[20] - Cash and cash equivalents at the end of the period were RMB 2,816,158, an increase from RMB 2,444,620 at the beginning of the period[40] - Total current assets decreased to RMB 13,373,037 as of September 30, 2024, from RMB 15,147,115 as of December 31, 2023[38] Expenses and Liabilities - Research and development expenses increased by 12.0$66.1 million) in Q3 2024, driven by higher technology investments[14] - Research and development expenses for the three months ended September 30, 2024, were RMB 464,151, up from RMB 414,429 in the same period of 2023, indicating a 12% increase[34] - The company’s total liabilities as of September 30, 2024, were RMB 4,510,855, compared to RMB 4,179,665 as of December 31, 2023[38] Shareholder Information - A new share repurchase program was authorized in August 2024, allowing the company to repurchase up to US$150 million of its shares[21] - Basic net income per ordinary share attributable to ordinary shareholders for the nine months ended September 30, 2024, was RMB 1.28, compared to RMB 0.88 for the same period in 2023, reflecting a 45% increase[34] - The weighted average number of ordinary shares used in computing net income per share for the nine months ended September 30, 2024, was 1,135,056[34] Future Outlook - The company expects total revenues for Q4 2024 to be between RMB1.795 billion and RMB1.81 billion, indicating a year-on-year increase of 13.6% to 14.6%[22] - The company anticipates continued growth in user data and market expansion strategies in the upcoming quarters[42] - New product and technology developments are expected to contribute positively to future revenue streams and market positioning[42]