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 fourth quarter
and full year ended December 31, 2023.
Fourth Quarter and Full Year 2023
Highlights
-
Revenues for the fourth quarter of 2023 were
RMB1,580.2 million (US$222.6 million), an increase of 46.0% from
RMB1,082.3 million for the same quarter of 2022.
Revenues for the full year of 2023 were RMB5,952.0
million (US$838.3 million), an increase of 31.9% from RMB4,511.1
million for the full year of 2022.
- Calculated
cash billings1 for the fourth quarter of 2023 were
RMB1,780.4 million (US$250.8 million), an increase of 61.2% from
RMB1,104.5 million for the same quarter of 2022. Calculated
cash billings for the full year of 2023 were RMB6,685.2
million (US$941.6 million), an increase of 44.9% from RMB4,613.4
million for the full year of 2022.
- Average
monthly active users (MAU)2 for the fourth quarter of 2023
were 41.2 million, an increase of 33.3% from 30.9 million for the
same quarter of 2022. MAU for the full year of
2023 were 42.3 million, an increase of 47.4% from 28.7 million for
the full year of 2022.
- Total paid
enterprise customers3 in the twelve months ended December
31, 2023 were 5.2 million, an increase of 44.4% from 3.6 million in
the twelve months ended December 31, 2022.
- Net
income for the fourth quarter of 2023 was RMB331.2 million
(US$46.7 million), compared to net loss of RMB184.8 million for the
same quarter of 2022. Adjusted net income4 for the
fourth quarter of 2023 was RMB628.6 million (US$88.5 million),
compared to RMB59.5 million for the same quarter of 2022.
Net income for the full year of 2023 was
RMB1,099.2 million (US$154.8 million), compared to RMB107.2 million
for the full year of 2022. Adjusted net income for
the full year of 2023 was RMB2,156.2 million (US$303.7 million),
compared to RMB799.4 million for the full year of 2022.
Mr. Jonathan Peng Zhao, Founder, Chairman and
Chief Executive Officer of the Company, commented, “In the past
year, facing various external challenges, we resumed our strong
growth in both user scale and revenues. Our better-than-expected
financial performance was primarily driven by strong user growth,
particularly penetration into blue-collar industries, lower-tier
cities, and small and medium-sized enterprises. This is a testament
of our continued investment in technology and in-depth exploration
of various user demand, which helped us seize opportunities to
further consolidate and enlarge our competitive advantages.”
Mr. Phil Yu Zhang, Chief Financial Officer,
added, “We are pleased to deliver a solid year of strong financial
performance. The full year calculated cash billings and revenues
grew by 44.9% and 31.9% year-on-year respectively, contributed by
strong user growth, as well as improved paying ratio with our
annual paid enterprise customer number reached historical high of
5.2 million. Noteworthy, our adjusted operating margin improved to
27.5% while we still maintained fast user growth which continues to
prove the effectiveness of our business model.”
__________________________
1 Calculated cash billings is a non-GAAP
financial measure, derived by adding the change in deferred revenue
to revenues. For more information on the non-GAAP financial
measures, please see the section of “Non-GAAP Financial Measures.”2
Monthly active users refer to the number of verified user accounts,
including both job seekers and enterprise users, that logged on to
our mobile application in a given month at least once.3 Paid
enterprise customers are defined as enterprise users and company
accounts from which we recognize revenues for our online
recruitment services.4 Adjusted net income and adjusted basic and
diluted net income per ADS attributable to ordinary shareholders
are non-GAAP financial measures, excluding the impact of
share-based compensation expenses. For more information on the
non-GAAP financial measures, please see the section of “Non-GAAP
Financial Measures.”
Fourth Quarter 2023 Financial
Results
Revenues
Revenues were RMB1,580.2 million (US$222.6
million) for the fourth quarter of 2023, representing an increase
of 46.0% from RMB1,082.3 million for the same quarter of 2022.
- Revenues from
online recruitment services to enterprise customers were RMB1,566.7
million (US$220.7 million) for the fourth quarter of 2023,
representing an increase of 46.5% from RMB1,069.6 million for the
same quarter of 2022. This increase was mainly driven by the user
growth and increased user engagement.
- Revenues from
other services, which mainly comprise paid value-added services
offered to job seekers, were RMB13.5 million (US$1.9 million) for
the fourth quarter of 2023, representing an increase of 7.1% from
RMB12.6 million for the same quarter of 2022, mainly benefiting
from expanded user base.
Operating cost and expenses
Total operating cost and expenses were
RMB1,363.3 million (US$192.0 million) for the fourth quarter of
2023, representing a decrease of 4.4% from RMB1,426.1 million for
the same quarter of 2022. Total share-based compensation expenses
were RMB297.4 million (US$41.9 million) for the fourth quarter of
2023, representing an increase of 21.8% from RMB244.2 million for
the same quarter of 2022.
- Cost of
revenues was RMB274.8 million (US$38.7 million) for the
fourth quarter of 2023, representing an increase of 35.8% from
RMB202.4 million for the same quarter of 2022, primarily due to
increases in payment processing cost and server and bandwidth
cost.
- Sales and
marketing expenses were RMB433.5 million (US$61.1 million)
for the fourth quarter of 2023, representing a decrease of 36.4%
from RMB682.1 million for the same quarter of 2022, primarily due
to higher advertising expenses incurred in the same period of 2022
for the market campaigns during the FIFA World Cup.
- Research
and development expenses were RMB430.2 million (US$60.6
million) for the fourth quarter of 2023, representing an increase
of 46.3% from RMB294.1 million for the same quarter of 2022,
primarily due to increased employee-related expenses as well as
increased investments in technology.
- General
and administrative expenses were RMB224.8 million (US$31.7
million) for the fourth quarter of 2023, representing a decrease of
9.2% from RMB247.6 million for the same quarter of 2022. This
decrease was primarily due to higher professional service fees
incurred in the same period of 2022 for the dual primary listing on
the Hong Kong Stock Exchange, partially offset by increased
share-based compensation expenses.
Income/Loss from operations
Income from operations was RMB222.3 million
(US$31.3 million) for the fourth quarter of 2023, compared to loss
from operations of RMB340.5 million for the same quarter of
2022.
Net income/loss and adjusted net
income
Net income was RMB331.2 million (US$46.7
million) for the fourth quarter of 2023, compared to net loss of
RMB184.8 million for the same quarter of 2022.
Adjusted net income was RMB628.6 million
(US$88.5 million) for the fourth quarter of 2023, compared to
RMB59.5 million for the same quarter of 2022.
Net income/loss per ADS and adjusted net
income per ADS
Basic and diluted net income per ADS
attributable to ordinary shareholders for the fourth quarter of
2023 were RMB0.76 (US$0.11) and RMB0.73 (US$0.10), respectively,
compared to basic and diluted net loss per ADS of RMB0.43 for the
same quarter of 2022.
Adjusted basic and diluted net income per ADS
attributable to ordinary shareholders4 for the fourth quarter of
2023 were RMB1.43 (US$0.20) and RMB1.39 (US$0.20), respectively,
compared to adjusted basic and diluted net income per ADS of
RMB0.14 and RMB0.13 for the same quarter of 2022.
Net cash provided by operating
activities
Net cash provided by operating activities was
RMB926.8 million (US$130.5 million) for the fourth quarter of 2023,
compared to RMB155.5 million for the same quarter of 2022.
Cash position
Balance of cash and cash equivalents, time
deposits and short-term investments was RMB12,909.6 million
(US$1,818.3 million) as of December 31, 2023.
Full Year 2023 Financial
Results
Revenues
Revenues were RMB5,952.0 million (US$838.3
million) for the full year of 2023, representing an increase of
31.9% from RMB4,511.1 million for the full year of 2022.
- Revenues from
online recruitment services to enterprise customers were RMB5,889.1
million (US$829.5 million) for the full year of 2023, representing
an increase of 32.0% from RMB4,461.3 million for the full year of
2022. This increase was mainly driven by the user growth and
increased user engagement.
- Revenues from
other services, which mainly comprise paid value-added services
offered to job seekers, were RMB62.9 million (US$8.9 million) for
the full year of 2023, representing an increase of 26.3% from
RMB49.8 million for the full year of 2022, mainly benefiting from
expanded user base.
Operating cost and expenses
Total operating cost and expenses were
RMB5,406.4 million (US$761.5 million) for the full year of 2023,
representing an increase of 16.1% from RMB4,658.2 million for the
full year of 2022. Total share-based compensation expenses were
RMB1,057.0 million (US$148.9 million) for the full year of 2023,
representing an increase of 52.7% from RMB692.2 million for the
full year of 2022.
- Cost of
revenues was RMB1,059.9 million (US$149.3 million) for the
full year of 2023, representing an increase of 40.4% from RMB754.9
million for the full year of 2022, primarily due to increases in
server and bandwidth cost and payment processing cost.
- Sales and
marketing expenses were RMB1,991.2 million (US$280.5
million) for the full year of 2023, relatively stable with that of
RMB2,000.9 million for the full year of 2022. The decrease in
advertising expenses in 2023, as a result of not
having similar marketing campaigns like the FIFA World
Cup sponsorship in 2022, was largely offset by an increase in
employee-related expenses.
- Research
and development expenses were RMB1,543.6 million (US$217.4
million) for the full year of 2023, representing an increase of
30.5% from RMB1,182.7 million for the full year of 2022, primarily
due to increased employee-related expenses as well as increased
investments in technology.
- General
and administrative expenses were RMB811.8 million
(US$114.3 million) for the full year of 2023, representing an
increase of 12.8% from RMB719.7 million for the full year of 2022.
This increase was primarily due to increased share-based
compensation expenses, partially offset by decreased professional
service fees.
Income/Loss from operations
Income from operations was RMB581.0 million
(US$81.8 million) for the full year of 2023, compared to loss from
operations of RMB129.5 million for the full year of 2022.
Net income and adjusted net
income
Net income was RMB1,099.2 million (US$154.8
million) for the full year of 2023, compared to RMB107.2 million
for the full year of 2022. Adjusted net income was RMB2,156.2
million (US$303.7 million) for the full year of 2023, compared to
RMB799.4 million for the full year of 2022. This increase was
primarily driven by enhanced operating efficiency and increased
interest and investment income with the Company's treasury
management strategy.
Net income per ADS and adjusted net
income per ADS
Basic and diluted net income per ADS
attributable to ordinary shareholders for the full year of 2023
were RMB2.53 (US$0.36) and RMB2.44 (US$0.34), respectively,
compared to basic and diluted net income per ADS of RMB0.25 and
RMB0.24 for the full year of 2022.
Adjusted basic and diluted net income per ADS
attributable to ordinary shareholders for the full year of 2023
were RMB4.96 (US$0.70) and RMB4.78 (US$0.67), respectively,
compared to adjusted basic and diluted net income per ADS of
RMB1.84 and RMB1.75 for the full year of 2022.
Net cash provided by operating
activities
Net cash provided by operating activities was
RMB3,047.0 million (US$429.2 million) for the full year of 2023,
compared to RMB1,003.0 million for the full year of 2022.
Share Repurchase Program
In March 2024, the Company’s board of directors
authorized a new share repurchase program effective from March 20,
2024 for a 12-month period, under which the Company may repurchase
up to US$200 million of its shares (including in the form of
ADSs).
Outlook
For the first quarter of 2024, the Company
currently expects its total revenues to be between RMB1.64 billion
and RMB1.67 billion, representing a year-on-year increase of 28.3%
to 30.7%. This forecast reflects the Company’s current views on the
market and operational conditions in China, which are subject to
change and cannot be predicted with reasonable accuracy as of the
date hereof.
Conference Call Information
The Company will host a conference call at
8:00AM U.S. Eastern Time on Tuesday, March 12, 2024 (8:00PM Beijing
Time on Tuesday, March 12, 2024) to discuss the financial
results.
Participants are required to pre-register for
the conference call
at:https://register.vevent.com/register/BI727e18c038514bbcadf1f22ec8a2c673
Upon registration, participants will receive an
email containing participant dial-in numbers and unique personal
PIN. This information will allow you to gain immediate access to
the call. Participants may pre-register at any time, including up
to and after the call start time.
Additionally, a live and archived webcast of the
conference call will be available on the Company's investor
relations website at https://ir.zhipin.com.
Exchange Rate
This announcement contains translations of
certain RMB amounts into U.S. dollar (“US$”) 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 RMB7.0999 to US$1.00 on December 29, 2023 as set forth in
the H.10 statistical release of the Federal Reserve Board. The
Company makes no representation that the RMB or US$ 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 calculated
cash billings, 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 derives calculated cash billings
by adding the change in deferred revenue to revenues. The Company
uses calculated cash billings to measure and monitor sales growth
because the Company generally bills its paid enterprise customers
at the time of sales, but may recognize a portion of the related
revenue ratably over time. The Company believes calculated cash
billings provides valuable insights into the cash generated from
sales and is a valuable measure for monitoring service demand and
financial performance. The Company defines adjusted net income and
adjusted net income attributable to ordinary shareholders by
excluding the impact of share-based compensation expenses, which
are non-cash expenses, from the related GAAP financial measures.
The Company believes that these non-GAAP financial measures help
identify underlying trends in the business that could otherwise be
distorted by the effect of certain expenses and facilitate
investors’ assessment of the Company’s operating performance.
The non-GAAP financial measures are not defined
under U.S. GAAP, and are not presented in accordance with U.S.
GAAP. 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. 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 annual report 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 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 LIMITEDInvestor RelationsEmail:
ir@kanzhun.com
PIACENTE FINANCIAL COMMUNICATIONSEmail:
kanzhun@tpg-ir.com
|
KANZHUN LIMITEDUnaudited Condensed
Consolidated Statements of Operations(All amounts in
thousands, except for share and per share data) |
| |
| |
|
For the three months endedDecember 31, |
|
For the year endedDecember 31, |
| |
|
2022 |
|
2023 |
|
2022 |
|
2023 |
| |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
| Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
Online recruitment services to enterprise customers |
|
1,069,634 |
|
|
1,566,722 |
|
|
220,668 |
|
|
4,461,282 |
|
|
5,889,101 |
|
|
829,463 |
|
|
Others |
|
12,641 |
|
|
13,509 |
|
|
1,903 |
|
|
49,780 |
|
|
62,927 |
|
|
8,863 |
|
| Total
revenues |
|
1,082,275 |
|
|
1,580,231 |
|
|
222,571 |
|
|
4,511,062 |
|
|
5,952,028 |
|
|
838,326 |
|
| Operating cost and
expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues(1) |
|
(202,395 |
) |
|
(274,846 |
) |
|
(38,711 |
) |
|
(754,861 |
) |
|
(1,059,861 |
) |
|
(149,278 |
) |
|
Sales and marketing expenses(1) |
|
(682,057 |
) |
|
(433,454 |
) |
|
(61,051 |
) |
|
(2,000,900 |
) |
|
(1,991,226 |
) |
|
(280,458 |
) |
|
Research and development expenses(1) |
|
(294,061 |
) |
|
(430,164 |
) |
|
(60,587 |
) |
|
(1,182,716 |
) |
|
(1,543,568 |
) |
|
(217,407 |
) |
|
General and administrative expenses(1) |
|
(247,600 |
) |
|
(224,787 |
) |
|
(31,661 |
) |
|
(719,699 |
) |
|
(811,787 |
) |
|
(114,338 |
) |
| Total operating cost
and expenses |
|
(1,426,113 |
) |
|
(1,363,251 |
) |
|
(192,010 |
) |
|
(4,658,176 |
) |
|
(5,406,442 |
) |
|
(761,481 |
) |
|
Other operating income, net |
|
3,350 |
|
|
5,272 |
|
|
743 |
|
|
17,595 |
|
|
35,385 |
|
|
4,984 |
|
| (Loss)/Income from
operations |
|
(340,488 |
) |
|
222,252 |
|
|
31,304 |
|
|
(129,519 |
) |
|
580,971 |
|
|
81,829 |
|
|
Interest and investment income, net |
|
117,357 |
|
|
163,409 |
|
|
23,016 |
|
|
226,482 |
|
|
606,757 |
|
|
85,460 |
|
|
Foreign exchange (loss)/gain |
|
(1,509 |
) |
|
(1,203 |
) |
|
(169 |
) |
|
8,627 |
|
|
1,088 |
|
|
153 |
|
|
Other income/(expenses), net |
|
7,724 |
|
|
(4,000 |
) |
|
(563 |
) |
|
11,406 |
|
|
32,973 |
|
|
4,644 |
|
| (Loss)/Income before
income tax expenses |
|
(216,916 |
) |
|
380,458 |
|
|
53,588 |
|
|
116,996 |
|
|
1,221,789 |
|
|
172,086 |
|
|
Income tax benefit/(expenses) |
|
32,123 |
|
|
(49,217 |
) |
|
(6,932 |
) |
|
(9,751 |
) |
|
(122,571 |
) |
|
(17,264 |
) |
| Net
(loss)/income |
|
(184,793 |
) |
|
331,241 |
|
|
46,656 |
|
|
107,245 |
|
|
1,099,218 |
|
|
154,822 |
|
|
Net loss attributable to non-controlling interests |
|
- |
|
|
9 |
|
|
1 |
|
|
- |
|
|
9 |
|
|
1 |
|
| Net (loss)/income
attributable to ordinary shareholders of KANZHUN
LIMITED |
|
(184,793 |
) |
|
331,250 |
|
|
46,657 |
|
|
107,245 |
|
|
1,099,227 |
|
|
154,823 |
|
| Weighted average
number of ordinary shares used in computing net (loss)/income per
share |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
864,609,263 |
|
|
876,231,301 |
|
|
876,231,301 |
|
|
868,941,151 |
|
|
870,304,878 |
|
|
870,304,878 |
|
|
—Diluted |
|
864,609,263 |
|
|
903,709,325 |
|
|
903,709,325 |
|
|
912,141,991 |
|
|
902,735,995 |
|
|
902,735,995 |
|
| Net (loss)/income per
ordinary share attributable to ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
(0.21 |
) |
|
0.38 |
|
|
0.05 |
|
|
0.12 |
|
|
1.26 |
|
|
0.18 |
|
|
—Diluted |
|
(0.21 |
) |
|
0.37 |
|
|
0.05 |
|
|
0.12 |
|
|
1.22 |
|
|
0.17 |
|
| Net (loss)/income per
ADS(2) attributable to ordinary
shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
(0.43 |
) |
|
0.76 |
|
|
0.11 |
|
|
0.25 |
|
|
2.53 |
|
|
0.36 |
|
|
—Diluted |
|
(0.43 |
) |
|
0.73 |
|
|
0.10 |
|
|
0.24 |
|
|
2.44 |
|
|
0.34 |
|
(1) Include share-based compensation expenses as
follows:
| |
|
For the three months endedDecember 31, |
|
For the year endedDecember 31, |
| |
|
2022 |
|
2023 |
|
2022 |
|
2023 |
|
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
| Cost of revenues |
|
14,383 |
|
11,417 |
|
1,608 |
|
39,587 |
|
46,395 |
|
6,535 |
| Sales and marketing
expenses |
|
63,753 |
|
69,836 |
|
9,836 |
|
170,366 |
|
262,431 |
|
36,963 |
| Research and development
expenses |
|
99,378 |
|
113,832 |
|
16,033 |
|
284,323 |
|
418,769 |
|
58,982 |
| General and administrative
expenses |
|
66,729 |
|
102,321 |
|
14,412 |
|
197,928 |
|
329,372 |
|
46,391 |
| |
|
244,243 |
|
297,406 |
|
41,889 |
|
692,204 |
|
1,056,967 |
|
148,871 |
(2) Each ADS represents two Class A ordinary
shares.
|
KANZHUN LIMITEDUnaudited Condensed
Consolidated Balance Sheets(All amounts in thousands) |
| |
| |
|
As of December 31, |
| |
|
2022 |
|
2023 |
|
|
|
RMB |
|
RMB |
|
US$ |
| ASSETS |
|
|
|
|
|
|
| Current
assets |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
9,751,824 |
|
2,472,959 |
|
348,309 |
|
Time deposits |
|
793,042 |
|
6,922,803 |
|
975,056 |
|
Short-term investments |
|
2,665,047 |
|
3,513,885 |
|
494,920 |
|
Accounts receivable, net |
|
9,862 |
|
16,727 |
|
2,356 |
|
Amounts due from related parties |
|
5,714 |
|
3,966 |
|
559 |
|
Prepayments and other current assets |
|
600,773 |
|
442,697 |
|
62,353 |
| Total current
assets |
|
13,826,262 |
|
13,373,037 |
|
1,883,553 |
| Non-current
assets |
|
|
|
|
|
|
|
Property, equipment and software, net |
|
691,036 |
|
1,793,488 |
|
252,607 |
|
Intangible assets, net |
|
10,251 |
|
8,093 |
|
1,140 |
|
Goodwill |
|
5,690 |
|
5,690 |
|
801 |
|
Right-of-use assets, net |
|
289,628 |
|
282,612 |
|
39,805 |
|
Long-term investments |
|
- |
|
2,473,128 |
|
348,333 |
|
Other non-current assets |
|
4,000 |
|
4,000 |
|
563 |
| Total non-current
assets |
|
1,000,605 |
|
4,567,011 |
|
643,249 |
| Total
assets |
|
14,826,867 |
|
17,940,048 |
|
2,526,802 |
| LIABILITIES AND
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
| Current
liabilities |
|
|
|
|
|
|
|
Accounts payable |
|
185,297 |
|
629,216 |
|
88,623 |
|
Deferred revenue |
|
2,060,892 |
|
2,794,075 |
|
393,537 |
|
Other payables and accrued liabilities |
|
633,482 |
|
779,046 |
|
109,726 |
|
Operating lease liabilities, current |
|
151,438 |
|
155,014 |
|
21,833 |
| Total current
liabilities |
|
3,031,109 |
|
4,357,351 |
|
613,719 |
| Non-current
liabilities |
|
|
|
|
|
|
|
Operating lease liabilities, non-current |
|
143,591 |
|
125,079 |
|
17,617 |
|
Deferred tax liabilities |
|
11,404 |
|
28,425 |
|
4,004 |
| Total non-current
liabilities |
|
154,995 |
|
153,504 |
|
21,621 |
| Total
liabilities |
|
3,186,104 |
|
4,510,855 |
|
635,340 |
| Total shareholders’
equity |
|
11,640,763 |
|
13,429,193 |
|
1,891,462 |
| Total liabilities and
shareholders’ equity |
|
14,826,867 |
|
17,940,048 |
|
2,526,802 |
|
KANZHUN LIMITEDUnaudited Condensed
Consolidated Statements of Cash Flows(All amounts in
thousands) |
| |
| |
|
For the three months endedDecember 31, |
|
For the year endedDecember 31, |
| |
|
2022 |
|
2023 |
|
2022 |
|
2023 |
| |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
Net cash provided by operating activities |
|
155,543 |
|
|
926,837 |
|
|
130,542 |
|
|
1,003,042 |
|
|
3,047,009 |
|
|
429,162 |
|
| Net cash used in investing
activities |
|
(725,495 |
) |
|
(489,496 |
) |
|
(68,944 |
) |
|
(2,816,581 |
) |
|
(9,938,645 |
) |
|
(1,399,829 |
) |
| Net cash used in financing
activities |
|
(627,954 |
) |
|
(442,151 |
) |
|
(62,276 |
) |
|
(669,232 |
) |
|
(417,022 |
) |
|
(58,736 |
) |
| Effect of exchange rate
changes on cash and cash equivalents |
|
(209,026 |
) |
|
33,149 |
|
|
4,669 |
|
|
892,837 |
|
|
29,793 |
|
|
4,196 |
|
| Net
(decrease)/increase in cash and cash equivalents |
|
(1,406,932 |
) |
|
28,339 |
|
|
3,991 |
|
|
(1,589,934 |
) |
|
(7,278,865 |
) |
|
(1,025,207 |
) |
| Cash and cash equivalents at
beginning of the period |
|
11,158,756 |
|
|
2,444,620 |
|
|
344,318 |
|
|
11,341,758 |
|
|
9,751,824 |
|
|
1,373,516 |
|
| Cash and cash
equivalents at end of the period |
|
9,751,824 |
|
|
2,472,959 |
|
|
348,309 |
|
|
9,751,824 |
|
|
2,472,959 |
|
|
348,309 |
|
|
KANZHUN LIMITEDUnaudited Reconciliation of
GAAP and Non-GAAP Results(All amounts in thousands, except
for share and per share data) |
| |
| |
|
For the three months endedDecember 31, |
|
For the year endedDecember 31, |
| |
|
2022 |
|
2023 |
|
2022 |
|
2023 |
| |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
Revenues |
|
1,082,275 |
|
|
1,580,231 |
|
222,571 |
|
4,511,062 |
|
5,952,028 |
|
838,326 |
| Add: Change in deferred
revenue |
|
22,223 |
|
|
200,169 |
|
28,193 |
|
102,322 |
|
733,183 |
|
103,267 |
| Calculated cash
billings |
|
1,104,498 |
|
|
1,780,400 |
|
250,764 |
|
4,613,384 |
|
6,685,211 |
|
941,593 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss)/income |
|
(184,793 |
) |
|
331,241 |
|
46,656 |
|
107,245 |
|
1,099,218 |
|
154,822 |
| Add: Share-based compensation
expenses |
|
244,243 |
|
|
297,406 |
|
41,889 |
|
692,204 |
|
1,056,967 |
|
148,871 |
| Adjusted net
income |
|
59,450 |
|
|
628,647 |
|
88,545 |
|
799,449 |
|
2,156,185 |
|
303,693 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net (loss)/income attributable
to ordinary shareholders of KANZHUN LIMITED |
|
(184,793 |
) |
|
331,250 |
|
46,657 |
|
107,245 |
|
1,099,227 |
|
154,823 |
| Add: Share-based compensation
expenses |
|
244,243 |
|
|
297,406 |
|
41,889 |
|
692,204 |
|
1,056,967 |
|
148,871 |
| Adjusted net income
attributable to ordinary shareholders of KANZHUN
LIMITED |
|
59,450 |
|
|
628,656 |
|
88,546 |
|
799,449 |
|
2,156,194 |
|
303,694 |
| Weighted average
number of ordinary shares used in computing adjusted net income per
share (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
864,609,263 |
|
|
876,231,301 |
|
876,231,301 |
|
868,941,151 |
|
870,304,878 |
|
870,304,878 |
|
—Diluted |
|
897,830,249 |
|
|
903,709,325 |
|
903,709,325 |
|
912,141,991 |
|
902,735,995 |
|
902,735,995 |
| Adjusted net income
per ordinary share attributable to ordinary
shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
0.07 |
|
|
0.72 |
|
0.10 |
|
0.92 |
|
2.48 |
|
0.35 |
|
—Diluted |
|
0.07 |
|
|
0.70 |
|
0.10 |
|
0.88 |
|
2.39 |
|
0.34 |
| Adjusted net income
per ADS attributable to ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
0.14 |
|
|
1.43 |
|
0.20 |
|
1.84 |
|
4.96 |
|
0.70 |
|
—Diluted |
|
0.13 |
|
|
1.39 |
|
0.20 |
|
1.75 |
|
4.78 |
|
0.67 |
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