Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
KANZHUN LIMITED Announces Second Quarter 2026
Financial Results
BEIJING, August 25, 2026 – KANZHUN
LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in China,
today announced its unaudited financial results for the quarter ended June 30, 2026.
Second Quarter 2026 Highlights
| · | Total paid enterprise customers1
in the twelve months ended June 30, 2026 were 7.2 million, an increase of 10.8% from 6.5 million in the twelve months ended June 30,
2025. |
| · | Average monthly active users2
for the second quarter of 2026 were 70.2 million, an increase of 10.4% from 63.6 million for the same quarter of 2025. |
| · | Revenues for the second quarter of 2026
were RMB2,398.6 million (US$353.5 million), an increase of 14.1% from RMB2,102.4 million for the same quarter of 2025. |
| · | Income from operations for the second
quarter of 2026 was RMB863.2 million (US$127.2 million), an increase of 32.6% from RMB651.2 million for the same quarter of 2025. Adjusted3
income from operations for the second quarter of 2026 was RMB1,049.7 million (US$154.7 million), an increase of 19.2% from RMB880.9
million for the same quarter of 2025. |
| · | Net income for the second quarter of 2026
was RMB1,942.3 million (US$286.3 million), an increase of 173.1% from RMB711.2 million for the same quarter of 2025. Adjusted net income
for the second quarter of 2026 was RMB1,029.2 million (US$151.7 million), an increase of 9.4% from RMB940.9 million for the same quarter
of 2025. |
Mr. Jonathan Peng Zhao, Founder, Chairman
and Chief Executive Officer of the Company, remarked, “We are delighted to report that the Company continued to deliver strong sets
of financials for the quarter, with both revenue and profit growth accelerating. Multiple operating metrics reached record highs in the
second quarter, with average monthly active users on the BOSS Zhipin app surpassing 70 million for the first time, further reinforcing
the Company’s industry-leading position and competitive moat.
We are continuing to invest firmly in our Artificial
Intelligence (AI) foundation model capabilities, while advancing the rollout of AI across both our user-facing and commercial products.
We have applied AI to improve job-seeking and recruitment efficiency and matching accuracy, and we have also extended these capabilities
across the full recruitment process, including AI-hosted or AI-assisted chats and AI interviews. These initiatives have received positive
user feedback, and our initial commercialization efforts point to substantial market potential.
At the same time, we place great importance
on delivering value to our shareholders. The Company has declared an annual dividend of approximately US$230 million. Together with
over US$300 million of share buybacks completed year-to-date, total shareholder returns through dividends and share buybacks this
year have already exceeded 100% of the prior year’s adjusted net income.”
| 1 | Paid enterprise customers are defined as enterprise users and company accounts from which the Company recognizes revenues for online
recruitment services. |
| 2 | Monthly active users refer to the number of verified user accounts, including both job seekers and enterprise users, that logged on
to the Company’s mobile application in a given month at least once. |
| 3 | It is a non-GAAP financial measure. For more information about non-GAAP financial measures, please see the sections entitled “Non-GAAP
Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results.” |
Ms. Wenbei Wang, Deputy Chief Financial Officer
of the Company, added, “The Company continued to deliver a high-quality growth in the second quarter, with revenue up 14.1% year-on-year,
accelerating from the first quarter, alongside a year-on-year improvement in margins. During the second quarter, we sponsored the 2026
FIFA World Cup, and earned positive market feedback. By harnessing AI across our operations to enhance operating and management efficiency,
combined with strong operating leverage, our income from operations grew 32.6% year-on-year, and our operating margin expanded by 5.0
percentage points, further validating the efficiency of our business model and the strength of our management execution.
We remain firmly committed to shareholder returns,
with healthy cash flow and ample cash reserves supporting our share buyback and dividend arrangements.”
Second Quarter 2026 Financial Results
Revenues
Revenues were RMB2,398.6 million (US$353.5 million)
for the second quarter of 2026, representing an increase of 14.1% from RMB2,102.4 million for the same quarter of 2025.
| · | Revenues from online recruitment services
to enterprise customers were RMB2,384.0 million (US$351.4 million) for the second quarter of 2026, representing an increase of 14.7%
from RMB2,077.6 million for the same quarter of 2025. This increase was mainly driven by the paid enterprise customer growth. |
| · | Revenues from other services, primarily
comprising paid value-added services offered to job seekers, were RMB14.6 million (US$2.2 million) for the second quarter of 2026, decreasing
from RMB24.8 million for the same quarter of 2025. The decrease was mainly driven by the optimization of certain value-added features
for job seekers since the third quarter of 2025. The Company simplified these offerings to enhance the value proposition for job seekers,
prioritizing platform engagement and long-term ecosystem growth. |
Operating cost and expenses
Total operating cost and expenses were RMB1,542.5
million (US$227.3 million) for the second quarter of 2026, representing an increase of 6.1% from RMB1,454.4 million for the same quarter
of 2025. Total share-based compensation expenses were RMB186.4 million (US$27.5 million) for the second quarter of 2026, representing
a decrease of 18.9% from RMB229.7 million for the same quarter of 2025.
| · | Cost of revenues was RMB312.4 million
(US$46.0 million) for the second quarter of 2026, representing an increase of 1.6% from RMB307.5 million for the same quarter of 2025,
primarily due to an increase in server and bandwidth cost, partially offset by decreases in payment processing cost and share-based compensation
expenses. |
| · | Sales and marketing expenses were RMB580.9
million (US$85.6 million) for the second quarter of 2026, representing an increase of 38.3% from RMB419.9 million for the same quarter
of 2025, primarily driven by higher advertising and marketing expenses incurred mainly for the 2026 FIFA World Cup campaigns, as well
as an increase in sales employee-related expenses. |
| · | Research and development expenses were
RMB430.5 million (US$63.5 million) for the second quarter of 2026, representing an increase of 3.5% from RMB416.0 million for the same
quarter of 2025, primarily due to an increase in cloud service fees. |
| · | General and administrative expenses were
RMB218.6 million (US$32.2 million) for the second quarter of 2026, representing a decrease of 29.7% from RMB311.0 million for the same
quarter of 2025, primarily due to a decrease in employee-related expenses. |
Income from operations and adjusted income
from operations
Income from operations was RMB863.2 million (US$127.2
million) for the second quarter of 2026, representing an increase of 32.6% from RMB651.2 million for the same quarter of 2025.
Adjusted income from operations was RMB1,049.7
million (US$154.7 million) for the second quarter of 2026, representing an increase of 19.2% from RMB880.9 million for the same quarter
of 2025.
Interest and investment income, net
Interest and investment income was RMB1,632.5
million (US$240.6 million) for the second quarter of 2026, compared with RMB157.0 million for the same quarter of 2025. The increase was
primarily attributable to investment income of RMB1,466.1 million arising from fair value changes of investments in an investee company,
which completed its initial public offering in January 2026.
Income tax expenses
Income tax expenses were RMB550.3 million (US$81.1
million) for the second quarter of 2026, compared with RMB97.1 million for the same quarter of 2025. The increase was primarily driven
by the tax effect of RMB366.5 million associated with the aforementioned investment income, together with withholding tax of RMB19.7 million,
a top-up tax of RMB10.3 million under the Pillar Two rules, and an increase in income from operations.
Net income and adjusted net income
Net income was RMB1,942.3 million (US$286.3 million)
for the second quarter of 2026, representing an increase of 173.1% from RMB711.2 million for the same quarter of 2025.
Adjusted net income was RMB1,029.2 million (US$151.7
million) for the second quarter of 2026, representing an increase of 9.4% from RMB940.9 million for the same quarter of 2025, primarily
driven by an increase in adjusted income from operations, partially offset by an increase in income tax expenses.
Net income per American depositary share
(“ADS”) and adjusted net income per ADS
Basic and diluted net income per ADS attributable
to ordinary shareholders for the second quarter of 2026 were RMB4.28 (US$0.63) and RMB4.20 (US$0.62), respectively, compared with basic
and diluted net income per ADS of RMB1.62 and RMB1.58 for the same quarter of 2025.
Adjusted basic and diluted net income per ADS
attributable to ordinary shareholders for the second quarter of 2026 were RMB2.27 (US$0.33) and RMB2.23 (US$0.33), respectively, compared
with adjusted basic and diluted net income per ADS of RMB2.14 and RMB2.09 for the same quarter of 2025.
Net cash provided by operating activities
Net cash provided by operating activities was
RMB944.8 million (US$139.2 million) for the second quarter of 2026, representing a decrease of 10.2% from RMB1,051.9 million for the same
quarter of 2025. This decrease was primarily attributable to increases in advertising and marketing expenditures and tax payments, as
well as a decrease in interest and investment income received, partially offset by an increase in cash billings collected from customers.
Cash position
As of June 30, 2026, the balance of cash
and cash equivalents, short-term time deposits and short-term investments (excluding investments in equity securities) was RMB18,807.2
million (US$2,771.8 million).
Declaration of Annual Cash Dividend
Under the Company’s annual dividend policy,
the Company’s board of directors (the “Board”) has approved an annual cash dividend (the “Dividend”) of
US$0.255 per ordinary share, or US$0.510 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business
on September 28, 2026, Beijing Time and New York Time, respectively, payable in U.S. dollars. The ex-dividend date for holders of
ordinary shares in Hong Kong will be September 25, 2026 and the ex-dividend date for holders of ADSs will be September 28, 2026.
The aggregate amount of the Dividend to be paid will be approximately US$230 million, which will be funded by surplus cash on the Company’s
balance sheet.
For holders of ordinary shares, in order to qualify
for the Dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration
with the Company’s Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th
Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong no later than 4:30 p.m. on September 28, 2026 (Beijing/Hong
Kong Time). Dividend to be paid to the Company’s ADS holders through the depositary bank will be subject to the terms of the deposit
agreement. The payment date is expected to be on October 6, 2026 for holders of ordinary shares and on or around October 14,
2026 for holders of ADSs.
Shareholder Return Plan
On March 18, 2026, the Company announced
that, subject to the final determination of the Board and the prevailing market conditions, the Company expects to allocate no less than
50% of the Company’s adjusted net income (a non-GAAP financial measure) of the preceding fiscal year for distribution of dividend
under the annual dividend policy and share repurchases for each of the next three years starting from 2026.
In addition, on March 18, 2026, the Board
approved amendments to the existing share repurchase program, increasing the total authorization under the program to repurchase up to
US$400 million of the Company’s shares (including ADSs) over the extended term of the program through August 28, 2027.
Outlook
For the third quarter of 2026, the Company
currently expects its total revenues to be between RMB2.41 billion and RMB2.50 billion, representing a year-on-year increase of 11.4% to 15.6%. This forecast reflects the Company’s current views on the market and operational conditions in China, which are
subject to change and cannot be predicted with reasonable accuracy as of the date hereof.
Conference Call Information
The Company will host a conference call at 8:00
AM U.S. Eastern Time on Tuesday, August 25, 2026 (8:00 PM Beijing Time on Tuesday, August 25, 2026) to discuss the financial
results.
Participants are required to pre-register for
the conference call at:
https://register-conf.media-server.com/register/BI270c41bec5db48968b0cb374ee844028
Upon registration, participants will receive an
email containing participant dial-in numbers and a unique personal PIN. This information will allow you to gain immediate access to the
call. Participants may pre-register at any time, including up to and after the call start time.
Additionally, a live and archived webcast of the
conference call will be available on the Company's investor relations website at https://ir.zhipin.com.
Exchange Rate
This press release contains translations of certain
RMB amounts into U.S. dollar (“US$”) amounts at specified rates solely for the convenience of the reader. Unless otherwise
stated, all translations from RMB to US$ were made at the exchange rate of RMB6.7851 to US$1.00 on June 30, 2026 as set forth in
the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could
be converted into US$ or RMB, as the case may be, at any particular rate or at all.
Non-GAAP Financial Measures
In evaluating the business, the Company considers
and uses non-GAAP financial measures, such as adjusted income from operations, adjusted net income, adjusted net income attributable to
ordinary shareholders, adjusted basic and diluted net income per ordinary share attributable to ordinary shareholders and adjusted basic
and diluted net income per ADS attributable to ordinary shareholders as supplemental measures to review and assess operating performance.
The Company defines these non-GAAP financial measures by excluding the impact of share-based compensation expenses and net gains from
investments in an investee company from the related GAAP financial measures. The Company believes that these non-GAAP financial measures
help identify underlying trends in the business and facilitate investors’ assessment of the Company’s operating performance.
The non-GAAP financial measures are not presented
in accordance with U.S. GAAP and may be different from non-GAAP information used by other companies. The non-GAAP financial measures have
limitations as analytical tools and should not be considered in isolation or as a substitute for most directly comparable GAAP financial
measures. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial
measure.
A reconciliation of the non-GAAP financial measures
to the most directly comparable GAAP financial measures has been provided in the table captioned “Unaudited Reconciliation of GAAP
and Non-GAAP Results” at the end of this press release.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,”
“expects,” “anticipates,” “aims,” “future,” “intends,” “plans,”
“believes,” “estimates,” “likely to,” and similar statements. Among other things, the outlook and
quotations from management in this press release contain forward-looking statements. The Company may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange
of Hong Kong Limited, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to
statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with
the U.S. Securities and Exchange Commission and The Stock Exchange of Hong Kong Limited. All information provided in this press release
is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except
as required under applicable law.
About KANZHUN LIMITED
KANZHUN LIMITED operates the leading online recruitment
platform BOSS Zhipin in China. The Company connects job seekers and enterprise users in an efficient and seamless manner through its highly
interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates
new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network
effects to deliver higher recruitment efficiency and drive rapid expansion.
For investor and media inquiries, please contact:
KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com
PIACENTE FINANCIAL COMMUNICATIONS
Email: kanzhun@tpg-ir.com
KANZHUN LIMITED
Unaudited Condensed Consolidated Statements
of Operations
(All amounts in thousands, except share and per
share data)
| | |
For the three months ended June 30, | | |
For the six months ended June 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Revenues | |
| | |
| | |
| | |
| | |
| | |
| |
| Online recruitment services to enterprise customers | |
| 2,077,599 | | |
| 2,383,975 | | |
| 351,354 | | |
| 3,978,981 | | |
| 4,441,762 | | |
| 654,635 | |
| Others | |
| 24,834 | | |
| 14,628 | | |
| 2,156 | | |
| 46,729 | | |
| 25,633 | | |
| 3,778 | |
| Total revenues | |
| 2,102,433 | | |
| 2,398,603 | | |
| 353,510 | | |
| 4,025,710 | | |
| 4,467,395 | | |
| 658,413 | |
| Operating cost and expenses | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues(1) | |
| (307,457 | ) | |
| (312,422 | ) | |
| (46,045 | ) | |
| (618,265 | ) | |
| (610,638 | ) | |
| (89,997 | ) |
| Sales and marketing expenses(1) | |
| (419,873 | ) | |
| (580,945 | ) | |
| (85,621 | ) | |
| (911,100 | ) | |
| (1,083,176 | ) | |
| (159,640 | ) |
| Research and development expenses(1) | |
| (416,046 | ) | |
| (430,530 | ) | |
| (63,452 | ) | |
| (839,614 | ) | |
| (854,325 | ) | |
| (125,912 | ) |
| General and administrative expenses(1) | |
| (310,974 | ) | |
| (218,632 | ) | |
| (32,222 | ) | |
| (576,485 | ) | |
| (440,645 | ) | |
| (64,943 | ) |
| Total operating cost and expenses | |
| (1,454,350 | ) | |
| (1,542,529 | ) | |
| (227,340 | ) | |
| (2,945,464 | ) | |
| (2,988,784 | ) | |
| (440,492 | ) |
| Other operating income, net | |
| 3,118 | | |
| 7,144 | | |
| 1,053 | | |
| 10,740 | | |
| 8,237 | | |
| 1,214 | |
| Income from operations | |
| 651,201 | | |
| 863,218 | | |
| 127,223 | | |
| 1,090,986 | | |
| 1,486,848 | | |
| 219,135 | |
| Interest and investment income, net | |
| 156,972 | | |
| 1,632,483 | | |
| 240,598 | | |
| 306,461 | | |
| 2,413,419 | | |
| 355,694 | |
| Foreign exchange gain | |
| 623 | | |
| 278 | | |
| 41 | | |
| 54 | | |
| 1,057 | | |
| 156 | |
| Other (expenses)/income, net | |
| (551 | ) | |
| (3,372 | ) | |
| (497 | ) | |
| (1,168 | ) | |
| 16,005 | | |
| 2,359 | |
| Income before income tax expenses | |
| 808,245 | | |
| 2,492,607 | | |
| 367,365 | | |
| 1,396,333 | | |
| 3,917,329 | | |
| 577,344 | |
| Income tax expenses | |
| (97,071 | ) | |
| (550,261 | ) | |
| (81,098 | ) | |
| (173,065 | ) | |
| (849,207 | ) | |
| (125,158 | ) |
| Net income | |
| 711,174 | | |
| 1,942,346 | | |
| 286,267 | | |
| 1,223,268 | | |
| 3,068,122 | | |
| 452,186 | |
| Net loss attributable to non-controlling interests | |
| 5,224 | | |
| 2,762 | | |
| 407 | | |
| 11,264 | | |
| 33,679 | | |
| 4,964 | |
| Net income attributable to ordinary shareholders of KANZHUN LIMITED | |
| 716,398 | | |
| 1,945,108 | | |
| 286,674 | | |
| 1,234,532 | | |
| 3,101,801 | | |
| 457,150 | |
| Weighted average number of ordinary shares used in computing net income per share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| — Basic | |
| 882,926,914 | | |
| 908,082,212 | | |
| 908,082,212 | | |
| 876,959,135 | | |
| 917,870,090 | | |
| 917,870,090 | |
| — Diluted | |
| 906,887,558 | | |
| 925,607,684 | | |
| 925,607,684 | | |
| 901,237,045 | | |
| 936,850,131 | | |
| 936,850,131 | |
| Net income per ordinary share attributable to ordinary shareholders | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| — Basic | |
| 0.81 | | |
| 2.14 | | |
| 0.32 | | |
| 1.41 | | |
| 3.38 | | |
| 0.50 | |
| — Diluted | |
| 0.79 | | |
| 2.10 | | |
| 0.31 | | |
| 1.37 | | |
| 3.31 | | |
| 0.49 | |
| Net income per ADS(2) attributable to ordinary shareholders | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| — Basic | |
| 1.62 | | |
| 4.28 | | |
| 0.63 | | |
| 2.82 | | |
| 6.76 | | |
| 1.00 | |
| — Diluted | |
| 1.58 | | |
| 4.20 | | |
| 0.62 | | |
| 2.74 | | |
| 6.62 | | |
| 0.98 | |
| (1) | Include share-based compensation expenses as follows: |
| | |
For the three months ended June 30, | | |
For the six months ended June 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Cost of revenues | |
| 6,896 | | |
| 2,366 | | |
| 349 | | |
| 16,507 | | |
| 5,559 | | |
| 819 | |
| Sales and marketing expenses | |
| 52,356 | | |
| 59,955 | | |
| 8,836 | | |
| 126,593 | | |
| 114,862 | | |
| 16,929 | |
| Research and development expenses | |
| 78,065 | | |
| 69,913 | | |
| 10,304 | | |
| 166,598 | | |
| 143,053 | | |
| 21,083 | |
| General and administrative expenses | |
| 92,409 | | |
| 54,211 | | |
| 7,990 | | |
| 171,791 | | |
| 113,949 | | |
| 16,794 | |
| Total | |
| 229,726 | | |
| 186,445 | | |
| 27,479 | | |
| 481,489 | | |
| 377,423 | | |
| 55,625 | |
| (2) | Each ADS represents two Class A ordinary shares. |
KANZHUN LIMITED
Unaudited Condensed Consolidated Balance Sheets
(All amounts in thousands)
| | |
As of | |
| | |
December 31,
2025 | | |
June 30, 2026 | |
| | |
RMB | | |
RMB | | |
US$ | |
| ASSETS | |
| | |
| | |
| |
| Current assets | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 4,104,917 | | |
| 2,580,279 | | |
| 380,286 | |
| Short-term time deposits | |
| 6,390,158 | | |
| 5,220,565 | | |
| 769,416 | |
| Short-term investments | |
| 9,450,244 | | |
| 13,143,766 | | |
| 1,937,151 | |
| Accounts and notes receivable, net | |
| 33,137 | | |
| 53,432 | | |
| 7,875 | |
| Inventories | |
| 2,395 | | |
| 2,163 | | |
| 319 | |
| Amounts due from related parties | |
| 9,241 | | |
| 10,415 | | |
| 1,535 | |
| Prepayments and other current assets | |
| 365,205 | | |
| 592,274 | | |
| 87,291 | |
| Total current assets | |
| 20,355,297 | | |
| 21,602,894 | | |
| 3,183,873 | |
| Non-current assets | |
| | | |
| | | |
| | |
| Long-term time deposits | |
| 782,460 | | |
| - | | |
| - | |
| Long-term investments | |
| 1,898,178 | | |
| 3,671,576 | | |
| 541,123 | |
| Property, equipment and software, net | |
| 1,245,022 | | |
| 1,277,199 | | |
| 188,236 | |
| Right-of-use assets, net | |
| 161,452 | | |
| 210,762 | | |
| 31,063 | |
| Intangible assets, net | |
| 100,909 | | |
| 91,608 | | |
| 13,501 | |
| Goodwill | |
| 6,528 | | |
| 6,528 | | |
| 962 | |
| Deferred tax assets | |
| 18,168 | | |
| 15,167 | | |
| 2,235 | |
| Total non-current assets | |
| 4,212,717 | | |
| 5,272,840 | | |
| 777,120 | |
| Total assets | |
| 24,568,014 | | |
| 26,875,734 | | |
| 3,960,993 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | | |
| | |
| Current liabilities | |
| | | |
| | | |
| | |
| Accounts payable | |
| 119,966 | | |
| 315,096 | | |
| 46,439 | |
| Deferred revenue(1) | |
| 3,235,959 | | |
| 3,548,283 | | |
| 522,952 | |
| Other payables and accrued liabilities | |
| 921,319 | | |
| 1,177,248 | | |
| 173,505 | |
| Operating lease liabilities, current | |
| 94,016 | | |
| 116,667 | | |
| 17,195 | |
| Total current liabilities | |
| 4,371,260 | | |
| 5,157,294 | | |
| 760,091 | |
| Non-current liabilities | |
| | | |
| | | |
| | |
| Operating lease liabilities, non-current | |
| 64,027 | | |
| 99,423 | | |
| 14,653 | |
| Deferred tax liabilities | |
| 51,689 | | |
| 570,764 | | |
| 84,120 | |
| Total non-current liabilities | |
| 115,716 | | |
| 670,187 | | |
| 98,773 | |
| Total liabilities | |
| 4,486,976 | | |
| 5,827,481 | | |
| 858,864 | |
| Total shareholders’ equity | |
| 20,081,038 | | |
| 21,048,253 | | |
| 3,102,129 | |
| Total liabilities and shareholders’ equity | |
| 24,568,014 | | |
| 26,875,734 | | |
| 3,960,993 | |
| (1) | Under the PRC value-added tax law effective January 1, 2026, value-added tax related to deferred
revenue is generally recognized earlier than previously required. As a result, deferred revenue as of June 30, 2026 decreased by
RMB41.6 million from the balance under the prior tax regime. |
KANZHUN LIMITED
Unaudited Condensed Consolidated Statements
of Cash Flows
(All amounts in thousands)
| | |
For the three months ended June 30, | | |
For the six months ended June 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net cash provided by operating activities | |
| 1,051,896 | | |
| 944,754 | | |
| 139,240 | | |
| 2,055,005 | | |
| 2,134,857 | | |
| 314,639 | |
| Net cash used in investing activities | |
| (824,453 | ) | |
| (308,639 | ) | |
| (45,488 | ) | |
| (1,503,279 | ) | |
| (1,861,477 | ) | |
| (274,348 | ) |
| Net cash provided by/(used in) financing activities | |
| 144,272 | | |
| (1,389,947 | ) | |
| (204,853 | ) | |
| 58,278 | | |
| (1,749,282 | ) | |
| (257,812 | ) |
| Effect of exchange rate changes on cash and cash equivalents | |
| (2,629 | ) | |
| (17,709 | ) | |
| (2,610 | ) | |
| (3,588 | ) | |
| (48,736 | ) | |
| (7,183 | ) |
| Net increase/(decrease) in cash and cash equivalents | |
| 369,086 | | |
| (771,541 | ) | |
| (113,711 | ) | |
| 606,416 | | |
| (1,524,638 | ) | |
| (224,704 | ) |
| Cash and cash equivalents at beginning of the period | |
| 2,790,420 | | |
| 3,351,820 | | |
| 493,997 | | |
| 2,553,090 | | |
| 4,104,917 | | |
| 604,990 | |
| Cash and cash equivalents at end of the period | |
| 3,159,506 | | |
| 2,580,279 | | |
| 380,286 | | |
| 3,159,506 | | |
| 2,580,279 | | |
| 380,286 | |
KANZHUN LIMITED
Unaudited Reconciliation of GAAP and Non-GAAP
Results
(All amounts in thousands, except share and per
share data)
| | |
For the three months ended June 30, | | |
For the six months ended June 30, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Income from operations | |
| 651,201 | | |
| 863,218 | | |
| 127,223 | | |
| 1,090,986 | | |
| 1,486,848 | | |
| 219,135 | |
| Add: Share-based compensation expenses | |
| 229,726 | | |
| 186,445 | | |
| 27,479 | | |
| 481,489 | | |
| 377,423 | | |
| 55,625 | |
| Adjusted income from operations | |
| 880,927 | | |
| 1,049,663 | | |
| 154,702 | | |
| 1,572,475 | | |
| 1,864,271 | | |
| 274,760 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income | |
| 711,174 | | |
| 1,942,346 | | |
| 286,267 | | |
| 1,223,268 | | |
| 3,068,122 | | |
| 452,186 | |
| Add: Share-based compensation expenses | |
| 229,726 | | |
| 186,445 | | |
| 27,479 | | |
| 481,489 | | |
| 377,423 | | |
| 55,625 | |
| Less: Net gains from investments in an investee company(1) | |
| - | | |
| (1,099,588 | ) | |
| (162,059 | ) | |
| - | | |
| (1,560,155 | ) | |
| (229,938 | ) |
| Adjusted net income | |
| 940,900 | | |
| 1,029,203 | | |
| 151,687 | | |
| 1,704,757 | | |
| 1,885,390 | | |
| 277,873 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income attributable to ordinary shareholders of KANZHUN LIMITED | |
| 716,398 | | |
| 1,945,108 | | |
| 286,674 | | |
| 1,234,532 | | |
| 3,101,801 | | |
| 457,150 | |
| Add: Share-based compensation expenses | |
| 229,726 | | |
| 186,445 | | |
| 27,479 | | |
| 481,489 | | |
| 377,423 | | |
| 55,625 | |
| Less: Net gains from investments in an investee company | |
| - | | |
| (1,099,588 | ) | |
| (162,059 | ) | |
| - | | |
| (1,560,155 | ) | |
| (229,938 | ) |
| Adjusted net income attributable to ordinary shareholders of KANZHUN LIMITED | |
| 946,124 | | |
| 1,031,965 | | |
| 152,094 | | |
| 1,716,021 | | |
| 1,919,069 | | |
| 282,837 | |
| Weighted average number of ordinary shares used in computing adjusted net income per share (Non-GAAP) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| — Basic | |
| 882,926,914 | | |
| 908,082,212 | | |
| 908,082,212 | | |
| 876,959,135 | | |
| 917,870,090 | | |
| 917,870,090 | |
| — Diluted | |
| 906,887,558 | | |
| 925,607,684 | | |
| 925,607,684 | | |
| 901,237,045 | | |
| 936,850,131 | | |
| 936,850,131 | |
| Adjusted net income per ordinary share attributable to ordinary shareholders | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| — Basic | |
| 1.07 | | |
| 1.14 | | |
| 0.17 | | |
| 1.96 | | |
| 2.09 | | |
| 0.31 | |
| — Diluted | |
| 1.04 | | |
| 1.11 | | |
| 0.16 | | |
| 1.90 | | |
| 2.05 | | |
| 0.30 | |
| Adjusted net income per ADS attributable to ordinary shareholders | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| — Basic | |
| 2.14 | | |
| 2.27 | | |
| 0.33 | | |
| 3.91 | | |
| 4.18 | | |
| 0.62 | |
| — Diluted | |
| 2.09 | | |
| 2.23 | | |
| 0.33 | | |
| 3.81 | | |
| 4.10 | | |
| 0.60 | |
| (1) | Represents gains arising from fair value changes of investments in an investee company, net of related
income tax expenses. For the three and six months ended June 30, 2026, the pre-tax investment income amounted to RMB1,466.1 million
and RMB2,080.2 million, with income tax expenses of RMB366.5 million and RMB520.1 million, respectively. |
Exhibit 99.2
KANZHUN LIMITED Declares Annual Cash Dividend
BEIJING, August 25, 2026 – KANZHUN
LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in
China, today announced that under the Company’s annual dividend policy, the Company’s board of directors has
approved an annual cash dividend (the “Dividend”) of US$0.255 per ordinary share, or US$0.510 per ADS, to holders of
ordinary shares and holders of ADSs of record as of the close of business on September 28, 2026, Beijing Time and New York
Time, respectively, payable in U.S. dollars. The ex-dividend date for holders of ordinary shares in Hong Kong will be
September 25, 2026, and the ex-dividend date for holders of ADSs will be September 28, 2026. The aggregate amount of the
Dividend to be paid will be approximately US$230 million, which will be funded by surplus cash on the Company’s balance
sheet.
For holders of ordinary shares, in order to qualify
for the Dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration
with the Company’s Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th
Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong no later than 4:30 p.m. on September 28, 2026 (Beijing/Hong
Kong Time). The Dividend to be paid to the Company’s ADS holders through the depositary bank will be subject to the terms of the
deposit agreement. The payment date is expected to be on October 6, 2026 for holders of ordinary shares and on or around October 14,
2026 for holders of ADSs.
Mr. Jonathan Peng Zhao, Founder,
Chairman and Chief Executive Officer of the Company, remarked, “We place great importance on delivering value to our
shareholders. The Company has declared an annual dividend of approximately US$230 million. Together with over US$300 million of
share buybacks completed year-to-date, total shareholder returns through dividends and share buybacks this year have already
exceeded 100% of the prior year’s adjusted net income.”
Ms. Wenbei Wang, Deputy Chief Financial Officer
of the Company, added, “We remain firmly committed to shareholder returns, with healthy cash flow and ample cash reserves supporting
our share buyback and dividend arrangements.”
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,”
“expects,” “anticipates,” “aims,” “future,” “intends,” “plans,”
“believes,” “estimates,” “likely to,” and similar statements. Among other things, the outlook and
quotations from management in this press release contain forward-looking statements. The Company may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange
of Hong Kong Limited, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to
statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with
the U.S. Securities and Exchange Commission and The Stock Exchange of Hong Kong Limited. All information provided in this press release
is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except
as required under applicable law.
About KANZHUN LIMITED
KANZHUN LIMITED operates the leading online recruitment
platform BOSS Zhipin in China. The Company connects job seekers and enterprise users in an efficient and seamless manner through its highly
interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates
new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network
effects to deliver higher recruitment efficiency and drive rapid expansion.
For more information, please visit https://ir.zhipin.com.
For investor and media inquiries, please contact:
KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com
PIACENTE FINANCIAL COMMUNICATIONS
Email: kanzhun@tpg-ir.com
