BOSS ZHIPIN(BZ) - 2022 Q4 - Annual Report

Financial Position - As of December 31, 2022, the company had RMB2,631.3 million in RMB-denominated cash and cash equivalents and short-term investments, and US$1,518.9 million in U.S. dollar-denominated cash and cash equivalents and short-term investments[797] - If RMB2,631.3 million were converted to U.S. dollars at the end of 2022 exchange rate of RMB6.8972 for US$1.00, the U.S. dollar cash balance would have been US$1,900.4 million[797] - A 10% depreciation of RMB against the U.S. dollar would result in a U.S. dollar cash balance of US$1,862.3 million[797] Currency and Interest Rate Risk - The company has not used any derivative financial instruments to hedge foreign exchange risk but monitors currency risk exposure[794] - The company has not been exposed to material risks due to changes in market interest rates, and has not used derivative financial instruments to manage interest rate risk exposure[798] - The company will consider hedging significant foreign currency exposure should the need arise[794] - The conversion of U.S. dollars into RMB for operations may be adversely affected by appreciation of the RMB against the U.S. dollar[796] - The company’s future interest income may fall short of expectations due to changes in market interest rates[798] Initial Public Offering - The company raised RMB 6.4 billion in net proceeds from its initial public offering after deducting underwriting commissions and expenses, selling 55,200,000 ADSs at an initial price of US$19.00 per ADS[822] - Total expenses incurred for the company's initial public offering amounted to RMB 26.8 million, with no payments made to directors or officers[823] - The company intends to use the proceeds from the initial public offering as disclosed in its registration statements on Form F-1, with no material changes in the use of proceeds[823] Other Financial Information - In 2022, the company received a reimbursement of US$7.1 million from the depositary after deduction of applicable U.S. taxes[803] - The company intends to submit any annual report provided to security holders in electronic format as an exhibit to a current report on Form 6-K[794]