1. Company Overview
Kanzhun Limited (traded as BZ) operates the BOSS Zhipin mobile app, offering AI‑enhanced online recruitment services in China, facilitating direct connections between job seekers and employers. Founded in January 2014 and headquartered in Beijing, it was originally a company review site before pivoting to recruitment. The platform has grown rapidly, backed by high-profile investors like Lei Jun, Neil Shen, and Tencent, and is now among the largest recruitment platforms in China. Listed on Nasdaq in June 2021 and later dual‑listed in Hong Kong, Kanzhun has established a strong foothold in its market. Its business model combines AI matching, messaging, and automation to streamline hiring.
2. Most Recent Earnings
For Q2 2025 (reported August 20, 2025), Kanzhun delivered an EPS of US $0.29, surpassing the estimate of US $0.18 by roughly 61%. Revenue came in at US $293.49 million, slightly above the US $288.75 million estimate.
For Q1 2025 (reported May 22, 2025), EPS was US $0.24 vs estimate of US $0.22; revenue was US $265.03 million vs estimate of US $264.74 million—a modest beat.
Management guided for Q2 2025 revenue between RMB 2.05–2.08 billion, reflecting 7.0%–8.5% YoY growth, and reaffirmed focus on profitability and share buybacks.
3. Company Background
Kanzhun was founded in January 2014 in Beijing by Peng Zhao, initially as a company review site. It pivoted to recruitment by launching the BOSS Zhipin app, which quickly rose to become China’s largest online recruitment platform—reaching 100 million users and millions of corporate clients by 2021. Its AI-powered matching engine and direct messaging features were key differentiators. After its Nasdaq IPO in June 2021 (raising USD 912 million, with shares jumping 96% on debut), it underwent a cybersecurity review by China’s CAC in mid‑2021, halting new user registrations temporarily; this was resolved in June 2022. In December 2022, Kanzhun completed a dual listing on the Hong Kong Stock Exchange. Its headquarters remain in Beijing.
4. Market Landscape
Kanzhun competes in China’s online recruitment market, which is expanding as digital and AI-based hiring becomes mainstream. With rising blue‑collar and lower-tier city user growth (blue‑collar revenue >39%, tier 3 city contribution >23% in Q1 2025), it taps into underserved segments. Analyst estimates forecast a bright future for this market, with continued growth through 2030, though explicit figures (CAGR, total market size) were not found in the available sources.
5. Competitors
Key competitors include domestic platforms such as Liepin, Zhaopin, and Boss直聘’s peers, as well as human capital services from larger tech firms like Tencent and Alibaba. International parallels might be LinkedIn, but Kanzhun’s localized AI‑first strategy gives it an edge domestically. Specific competitive analysis details are limited in the sources.
6. Differentiation
Kanzhun’s strength lies in its AI-driven product features—smart matching, AI interview robots, resume optimization, and communication tools—that enhance both job seeker and recruiter experience. Its rapid adoption of AI, especially in recruitment automation and efficiency improvements (e.g., enterprise-side AI improving hiring efficiency by 25%), sets it apart. Its success in lower-tier markets and with blue-collar segments provides unique growth vectors.
7. Management Team
- Peng Zhao – Founder, Chairman & Chief Executive Officer
- Xu Chen – President, Executive Director
- Yu Zhang – Chief Financial Officer, Executive DirectorThese executives lead strategy, operations, and financial stewardship.
8. Financial Performance
Kanzhun has shown strong revenue and earnings growth in recent years:
- Revenue: RMB ~7.36 billion in 2024, up from RMB ~5.95 billion in 2023 (~23.6% growth).
- Earnings: Narrows significant improvement, with net income rising 44% in 2024 vs 2023.
- EPS (annual): $0.48 in 2024 (+41% YoY), $0.57 TTM (ending March 31, 2025) (+46% YoY). EPS has rebounded from losses in 2021–2022.
- Balance Sheet: Robust cash position (RMB 14.8 billion, per Q1 2025), strong operating cash flow (RMB 1.0 billion), and low share‑based compensation costs. These reflect strong profitability, operational leverage, and financial discipline.
9. Bull Case
- AI advantage: Robust AI tools improve efficiency and create monetization opportunities.
- Profitability & growth: Strong margins and solid earnings growth support valuation.
- Shareholder returns: Active buybacks and new dividend policy enhance investor appeal.
10. Bear Case
- Regulatory risk: Past CAC review reveals vulnerability to future policy shifts.
- Macro sensitivity: Slowing hiring demand, especially in blue‑collar sectors, could hurt growth.
- Valuation: High P/E (e.g., ~35) may be vulnerable if growth slows.
The stock is in a long term stage 1 consolidation period on the monthly and weekly charts, attempting several times to move to phase 2, which it has on the daily chart to a bullish move higher, but still within the zone where it is trading. The resistance is in the $26 area, where it might fall again lower.
