Kanzhun Ltd reporting persons Image Frame Investment (HK) Limited and Tencent Holdings Limited report beneficial ownership of 54,972,151 Class A Ordinary Shares, representing 6.9% of the Class based on 799,085,005 Class A Ordinary Shares outstanding as of February 28, 2026. The filing is an amendment (No. 3) to a Schedule 13G/A and incorporates a Joint Filing Agreement. Signatures by authorized directors are dated May 12, 2026.
Positive
None.
Negative
None.
Insights
Two affiliated reporting persons disclose a 6.9% stake in Kanzhun.
The filing shows Image Frame Investment (HK) Limited as the record holder of 54,972,151 Class A shares and notes that Tencent Holdings Limited may be deemed to beneficially own the same block via the record holder. The percent is calculated using 799,085,005 shares outstanding as of February 28, 2026.
Ownership mechanics are documented via a Joint Filing Agreement; timing and cash‑flow treatment are not stated. Subsequent filings or disclosures would be required to show any changes to this position.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Kanzhun Ltd
(Name of Issuer)
Class A Ordinary Shares, par value US$0.0001 per share
(Title of Class of Securities)
48553T106
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
48553T106
1
Names of Reporting Persons
Image Frame Investment (HK) Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
HONG KONG
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
54,972,151.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
54,972,151.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
54,972,151.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.9 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Note to Row 11: See Item 4 below.
SCHEDULE 13G
CUSIP Number(s):
48553T106
1
Names of Reporting Persons
Tencent Holdings Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
54,972,151.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
54,972,151.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
54,972,151.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.9 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Notes to Rows 5, 7, and 9: Tencent Holdings Limited may be deemed to have beneficial ownership over 54,972,151 Class A Ordinary Shares held of record by Image Frame Investment (HK) Limited.
Note to Row 11: See Item 4 below.
Image Frame Investment (HK) Limited
Tencent Holdings Limited
(each a "Reporting Person" and collectively the "Reporting Persons")
(b)
Address or principal business office or, if none, residence:
For both Reporting Persons:
Level 29, Three Pacific Place
No. 1 Queen's Road East
Wanchai, Hong Kong
(c)
Citizenship:
Image Frame Investment (HK) Limited: Hong Kong
Tencent Holdings Limited: Cayman Islands
(d)
Title of class of securities:
Class A Ordinary Shares, par value US$0.0001 per share
(e)
CUSIP No.:
48553T106
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person and is incorporated herein by reference.
(b)
Percent of class:
The total number of outstanding Class A Ordinary Shares used to calculate the percent of class represented by the Class A Ordinary Shares is based on 799,085,005 Class A Ordinary Shares issued and outstanding as of as of February 28, 2026, as disclosed in the Issuer's annual report on Form 20-F filed with the SEC on April 29, 2026 (File No. 001-40460).
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c) is set forth in Rows 5-8 of the cover page for each Reporting Person and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c) is set forth in Rows 5-8 of the cover page for each Reporting Person and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c) is set forth in Rows 5-8 of the cover page for each Reporting Person and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c) is set forth in Rows 5-8 of the cover page for each Reporting Person and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Image Frame Investment (HK) Ltd
Signature:
/s/ Tse Cheuk Yin Tiffany
Name/Title:
Tse Cheuk Yin Tiffany / Director
Date:
05/12/2026
Tencent Holdings Ltd
Signature:
/s/ Ma Huateng
Name/Title:
Ma Huateng / Director
Date:
05/12/2026
Exhibit Information
Joint Filing Agreement https://www.sec.gov/Archives/edgar/data/1293451/000095010322002319/dp166934_ex9901.htm (Incorporated herein by reference to the Joint Filing Agreement by Image Frame Investment (HK) Limited and Tencent Holdings Limited dated as of February 10, 2022, which was previously filed with the U.S. Securities and Exchange Commission as Exhibit A to Schedule 13G filed by Image Frame Investment (HK) Limited and Tencent Holdings Limited on February 10, 2022 with respect to the Class A ordinary shares of KANZHUN LIMITED)
