KANZHUN LIMITED (“BOSS Zhipin” or “the Company”) (Nasdaq: BZ), a
leading online recruitment platform in China, today announced its
unaudited financial results for the second quarter ended June 30,
2021.
Second Quarter 2021 Highlights
• Total revenues for the quarter were
RMB1,168.2 million (US$180.9 million), an increase of 173.9% from
RMB426.5 million for the same quarter of 2020.
• Calculated cash
billings1 were RMB1,444.5 million
(US$223.7 million), an increase of 175.3% from RMB524.7 million for
the same quarter of 2020.
• Average monthly active users
(MAUs)2 for the quarter were 30.4
million, an increase of 44.8% from 21.0 million for the same
quarter of 2020.
• Total paid enterprise
customers3 in the twelve months ended
June 30, 2021 increased by 135.9% to 3.61 million, from 1.53
million in the twelve months ended June 30, 2020.
• Net loss for the quarter was RMB1,414.1
million (US$219.0 million), compared to RMB167.4 million for the
same quarter of 2020 and RMB176.2 million for the first quarter of
2021. The increase of net loss was mainly due to one-time
share-based compensation expenses recorded in the quarter.
Adjusted net income4 for the
quarter turned positive to RMB246.5 million (US$38.2 million),
compared to adjusted net loss of RMB143.4 million for the same
quarter last year and adjusted net loss of RMB127.5 million for the
first quarter of 2021.
“We are pleased to report strong results for our first quarter
as a public company, with robust and quality growth demonstrating
our effective ‘direct-recruitment’ model.” Mr. Jonathan Peng Zhao,
Founder, Chairman and Chief Executive Officer of the Company,
commented, “The successful completion of initial public offering in
June is just the start of a long journey, and we treasure this
opportunity to shoulder greater responsibility of delivering equal
and efficient services to more job seekers and enterprise users.
With user satisfaction and platform security as our top priorities,
we strive to fulfill our mission of improving the efficiency of
connecting talents and jobs through the power of technology.”
Mr. Phil Yu Zhang, Chief Financial Officer, further commented,
“Our total revenues increased by 173.9% year on year in this
quarter to RMB1,168.2 million. We remain focusing on our users and
revenue growth while also improving the operating efficiency
through greater leverage and effective marketing initiatives. With
our strong cash flow, we are committed to making further investment
in R&D, and continuing to increase brand recognition and user
coverage for our long-term sustainable growth.”
Second Quarter 2021 Unaudited Financial
Results
Revenues
Revenues were RMB1,168.2 million (US$180.9 million) in the
second quarter of 2021, an increase of 173.9% from RMB426.5 million
for the same period in 2020. The increase was primarily due to the
growth of revenues from our online recruitment services.
• Revenues from online recruitment services were RMB1,157.8
million (US$179.3 million) in the second quarter of 2021,
representing an increase of 174.7% from RMB421.5 million for the
same period in 2020. The increase was mainly due to rapid growth in
our paid enterprise customer numbers following the expansion of our
user base and continued investment in enhancing our service
capabilities. Total paid enterprise customers increased by 135.9%
from 1.53 million in the twelve months ended June 30, 2020 to 3.61
million in the twelve months ended June 30, 2021. Revenue from key
accounts5 performed particularly well at RMB208.3 million (US$32.3
million) in the second quarter of 2021, representing an increase of
229.1% from RMB63.3 million in the same period of 2020. Total
number of key accounts increased by 146.6% from 1,272 in the twelve
months ended June 30, 2020 to 3,137 in the twelve months ended June
30, 2021.
• Revenues from other services, which mainly comprise of
paid value-added services offered to job seekers, were RMB10.4
million (US$1.6 million) in the second quarter of 2021,
representing an increase of 108.0% from RMB5.0 million for the same
period in 2020, benefiting from our continued overall growth in
user base.
Total operating cost and expenses
Total operating cost and expenses were RMB2,594.3 million
(US$401.8 million) in the second quarter of 2021, representing an
increase of 335.1% from RMB596.3 million in the same period of
2020. Total share-based compensation expenses were RMB1,660.6
million (US$257.2 million) in the second quarter of 2021, compared
with RMB24.0 million in the same period of 2020.
• Cost of revenues were RMB143.2 million
(US$22.2 million) in the second quarter of 2021, representing an
increase of 164.2% from RMB54.2 million in the same period of 2020,
primarily driven by third-party payment processing costs, payroll
and other employee-related costs, and server and bandwidth costs,
resulting from expanded user base and increased transaction
volume.
• Sales and marketing expenses were
RMB534.2 million (US$82.7 million) in the second quarter of 2021,
representing an increase of 45.8% from RMB366.4 million in the same
period of 2020, primarily due to (i) increased sales and marketing
employee-related expenses; and (ii) enhanced brand advertising and
customer acquisition activities.
• Research and development expenses were
RMB250.0 million (US$38.7 million) in the second quarter of 2021,
representing an increase of 113.7% from RMB117.0 million in the
same period of 2020, primarily due to increased headcount for
experienced research and development staff as well as increased
share-based compensation expenses.
• General and administrative expenses were
RMB1,666.9 million (US$258.2 million) in the second quarter of
2021, compared with RMB58.6 million in the same period of 2020,
mainly resulting from the one-time issuance of Class B ordinary
shares to TECHWOLF LIMITED, which led to an increase of RMB1,506.4
million (US$233.3 million) in share-based compensation
expenses.
Loss from operations
Loss from operations was RMB1,420.8 million (US$220.0 million)
in the second quarter of 2021, compared to RMB167.5 million in the
same period of 2020.
Net loss and adjusted net income (loss)
Net loss was RMB1,414.1 million (US$219.0 million) in the second
quarter of 2021, compared to net loss of RMB167.4 million in the
same period of 2020.
Adjusted net income was RMB246.5 million (US$38.2 million) in
the second quarter of 2021, compared to adjusted net loss of
RMB143.4 million in the same quarter of 2020.
Basic and diluted net loss per ADS and adjusted basic
and diluted net income (loss) per ADS
Basic and diluted net loss per ADS attributable to ordinary
shareholders were both RMB18.79 (US$2.91) in the second quarter of
2021, compared to net loss per ADS of RMB4.34 in the same period of
2020.
Adjusted basic and diluted net income per ADS attributable to
ordinary shareholders4 were RMB2.21 (US$0.34) and RMB1.32 (US$0.20)
respectively in the second quarter of 2021, compared to adjusted
basic and diluted net loss per ADS of RMB3.89 in the same period of
2020.
Net cash flow generated from (used in) operating
activities
Net cash generated from operating activities was RMB671.2
million (US$104.0 million) in the second quarter of 2021, compared
to net cash used in operating activities of RMB14.2 million in the
same period of 2020.
Cash position
Balance of cash and cash equivalents and short-term investments
was RMB11,708.7 million (US$1,813.4 million) as of June 30, 2021,
compared to RMB4,534.6 million as of December 31, 2020. The
increase was primarily attributable to the net proceeds from the
initial public offering completed in June 2021.
Recent Development
On June 11, 2021, the Company completed its initial public
offering, through which the Company sold a total of 48,000,000
ADSs, with each ADS representing two Class A ordinary shares, at a
price of US$19.00 per ADS. On June 15, 2021, the underwriters
exercised their over-allotment option to purchase an additional
7,200,000 ADSs, at a price of US$19.00 per ADS. Upon the closing of
the over-allotment transaction, the Company had a total of
677,127,602 Class A ordinary shares and 140,830,041 Class B
ordinary shares issued and outstanding.
As stated in the press release announced on July 5, 2021, the
Company is subject to cybersecurity review by the Cyberspace
Administration of China. To facilitate the process, during the
review period, the “BOSS Zhipin” app has been required to suspend
new user registration in China. The process is still ongoing and
the Company is fully cooperating with the regulator in respect of
its review.
Outlook
For the third quarter of 2021, the Company currently expects its
total revenues to be between RMB1.18 billion and RMB1.21 billion,
representing a year-on-year increase of 100.0% to 105.1%. This
forecast reflects the Company’s current views on the market,
operational conditions and the impact of the on-going cybersecurity
review, which are subject to change and cannot be predicted with
reasonable accuracy as of the date hereof.
____________________________________
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 “Use of Non-GAAP Financial Measures”. 2 MAUs refer to
the number of verified user accounts, including both job seekers
and enterprise users, that logged on to our mobile applications 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
(loss) and adjusted basic and diluted net income (loss) 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 “Use of Non-GAAP Financial Measures”.5
Key accounts are defined as paid enterprise customers who
contributed RMB50,000 or more in the respectively proceeding
twelve-month period.
Conference Call Information
The Company will host a conference call at 8:00 AM U.S. Eastern
Time on Friday, August 27, 2021 (8:00 PM Beijing/Hong Kong Time on
Friday, August 27, 2021) to discuss the financial results. Details
for the conference call are as follows:
Event Title: |
|
KANZHUN LIMITED Second Quarter 2021 Earnings Conference Call |
Conference ID: |
|
6665641 |
Registration Link: |
|
http://apac.directeventreg.com/registration/event/6665641 |
Upon registration, participants will receive an email containing
conference call dial-in details, a passcode, and a unique
registrant ID. 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.
A replay of the conference call will be accessible approximately
two hours after the conclusion of the live call and will be
available until September 3, 2021, via the following details:
International: |
|
+61-2-8199-0299 |
China (Mandarin) Toll Free: |
|
800-870-0206 |
China Toll Free: |
|
400-632-2162 |
United States Toll Free: |
|
+1-855-452-5696 |
Hong Kong Toll Free: |
|
800-963-117 |
Singapore Toll Free: |
|
800-616-2305 |
Conference ID: |
|
6665641 |
Exchange Rate
This announcement contains translation of certain RMB amounts
into U.S. dollar amounts at specified rates solely for the
convenience of the reader. Unless otherwise stated, all
translations from RMB to U.S. dollar were made at the rate of
RMB6.4566 to US$1.00, the noon buying rate on June 30, 2021 of RMB
as set forth in the H.10 statistical release of the Federal Reserve
Board. The Company makes no representation that the RMB or U.S.
dollar amounts referred could be converted into U.S. dollar or RMB,
as the case may be, at any particular rate or at all.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses
non-GAAP measures, such as calculated cash billings, adjusted net
income (loss), adjusted net income (loss) attributable to ordinary
shareholders, adjusted basic and diluted net income (loss) per
share attributable to ordinary shareholders and adjusted basic and
diluted net income (loss) 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 provide valuable insights into the cash that will be
generated from sales and is a valuable measure for monitoring
service demand and financial performance. The Company defines
adjusted net income (loss) and adjusted net income (loss)
attributable to ordinary shareholders by excluding the impact of
share-based compensation expenses, which are non-cash expenses,
from the related GAAP measures. The Company believes that these
non-GAAP measures help identify underlying trends in the business
that could otherwise be distorted by the effect of certain expenses
that are included in net loss 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
presentation of non-GAAP financial measures should not be
considered in isolation from, or as a substitute for most directly
comparable financial measures prepared in accordance with GAAP. The
non-GAAP measures have material limitations as an analytical metric
and may not be calculated in the same manner by all companies, and
may not be comparable to other similarly titled measures used by
other companies. 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 historical non-GAAP financial measures
to the most directly comparable GAAP measures has been provided in
the financial statement tables 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. 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 SEC. 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 (Nasdaq: BZ) operates the largest online
recruitment platform BOSS Zhipin in China in terms of average MAU
in 2020. Established seven years ago, 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 LIMITEDInvestor RelationsEmail: ir@kanzhun.com
THE PIACENTE GROUP, INC.Email: kanzhun@tpg-ir.com
KANZHUN LIMITEDUNAUDITED
INTERIEM CONDENSED CONSOLIDATEDSTATEMENTS OF
COMPRHENSIVE LOSS(All amounts in thousands, except for
share and per share data, unless otherwise noted)
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Online recruitment services to enterprise customers |
|
421,475 |
|
|
|
1,157,763 |
|
|
|
179,315 |
|
|
|
700,585 |
|
|
|
1,939,919 |
|
|
|
300,455 |
|
Other services |
|
5,008 |
|
|
|
10,419 |
|
|
|
1,614 |
|
|
|
8,509 |
|
|
|
16,798 |
|
|
|
2,602 |
|
Total Revenues |
|
426,483 |
|
|
|
1,168,182 |
|
|
|
180,929 |
|
|
|
709,094 |
|
|
|
1,956,717 |
|
|
|
303,057 |
|
Operating cost and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues(1) |
|
(54,221 |
) |
|
|
(143,173 |
) |
|
|
(22,175 |
) |
|
|
(92,072 |
) |
|
|
(250,029 |
) |
|
|
(38,725 |
) |
Sales and marketing expenses(1) |
|
(366,396 |
) |
|
|
(534,243 |
) |
|
|
(82,744 |
) |
|
|
(742,918 |
) |
|
|
(1,152,780 |
) |
|
|
(178,543 |
) |
Research and development expenses(1) |
|
(117,014 |
) |
|
|
(249,961 |
) |
|
|
(38,714 |
) |
|
|
(221,815 |
) |
|
|
(413,728 |
) |
|
|
(64,078 |
) |
General and administrative expenses(1) |
|
(58,640 |
) |
|
|
(1,666,900 |
) |
|
|
(258,170 |
) |
|
|
(104,291 |
) |
|
|
(1,748,612 |
) |
|
|
(270,826 |
) |
Total operating cost and expenses |
|
(596,271 |
) |
|
|
(2,594,277 |
) |
|
|
(401,803 |
) |
|
|
(1,161,096 |
) |
|
|
(3,565,149 |
) |
|
|
(552,172 |
) |
Other operating income, net |
|
2,332 |
|
|
|
5,339 |
|
|
|
827 |
|
|
|
3,695 |
|
|
|
7,657 |
|
|
|
1,186 |
|
Loss from operations |
|
(167,456 |
) |
|
|
(1,420,756 |
) |
|
|
(220,047 |
) |
|
|
(448,307 |
) |
|
|
(1,600,775 |
) |
|
|
(247,929 |
) |
Financial income, net |
|
111 |
|
|
|
2,056 |
|
|
|
318 |
|
|
|
462 |
|
|
|
4,017 |
|
|
|
622 |
|
Foreign exchange loss |
|
(2 |
) |
|
|
(1,050 |
) |
|
|
(163 |
) |
|
|
(1,123 |
) |
|
|
(586 |
) |
|
|
(91 |
) |
Investment income |
|
148 |
|
|
|
5,818 |
|
|
|
901 |
|
|
|
5,587 |
|
|
|
8,629 |
|
|
|
1,336 |
|
Other expenses |
|
(184 |
) |
|
|
(201 |
) |
|
|
(31 |
) |
|
|
(2,834 |
) |
|
|
(1,597 |
) |
|
|
(247 |
) |
Loss before income tax expense |
|
(167,383 |
) |
|
|
(1,414,133 |
) |
|
|
(219,022 |
) |
|
|
(446,215 |
) |
|
|
(1,590,312 |
) |
|
|
(246,309 |
) |
Income tax expense |
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
Net loss |
|
(167,383 |
) |
|
|
(1,414,133 |
) |
|
|
(219,022 |
) |
|
|
(446,215 |
) |
|
|
(1,590,312 |
) |
|
|
(246,309 |
) |
Accretion on convertible redeemable preferred shares to redemption
value |
|
(65,221 |
) |
|
|
(71,802 |
) |
|
|
(11,121 |
) |
|
|
(130,015 |
) |
|
|
(164,065 |
) |
|
|
(25,410 |
) |
Net loss attributable to ordinary
shareholders |
|
(232,604 |
) |
|
|
(1,485,935 |
) |
|
|
(230,143 |
) |
|
|
(576,230 |
) |
|
|
(1,754,377 |
) |
|
|
(271,719 |
) |
Net loss |
|
(167,383 |
) |
|
|
(1,414,133 |
) |
|
|
(219,022 |
) |
|
|
(446,215 |
) |
|
|
(1,590,312 |
) |
|
|
(246,309 |
) |
Other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustment |
|
(1,573 |
) |
|
|
(18,084 |
) |
|
|
(2,801 |
) |
|
|
28,491 |
|
|
|
7,884 |
|
|
|
1,221 |
|
Total comprehensive loss |
|
(168,956 |
) |
|
|
(1,432,217 |
) |
|
|
(221,823 |
) |
|
|
(417,724 |
) |
|
|
(1,582,428 |
) |
|
|
(245,088 |
) |
Weighted average number of ordinary shares used in computing net
loss per share, basic and diluted |
|
107,305,026 |
|
|
|
158,122,725 |
|
|
|
158,122,725 |
|
|
|
107,305,026 |
|
|
|
147,308,942 |
|
|
|
147,308,942 |
|
Net loss per share attributable to ordinary
shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic and diluted |
|
(2.17 |
) |
|
|
(9.40 |
) |
|
|
(1.46 |
) |
|
|
(5.37 |
) |
|
|
(11.91 |
) |
|
|
(1.84 |
) |
Net loss per ADS* attributable to ordinary
shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic and diluted |
|
(4.34 |
) |
|
|
(18.79 |
) |
|
|
(2.91 |
) |
|
|
(10.74 |
) |
|
|
(23.82 |
) |
|
|
(3.69 |
) |
* Each ADS represents two Class A ordinary shares
(1) Includes share-based compensation expenses as follows:
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
Cost of revenues |
|
375 |
|
|
|
9,652 |
|
|
|
1,495 |
|
|
632 |
|
|
|
13,137 |
|
|
|
2,035 |
|
Sales and marketing expenses |
|
|
6,331 |
|
|
|
24,976 |
|
|
|
3,868 |
|
|
|
10,888 |
|
|
|
26,922 |
|
|
|
4,170 |
|
Research and development expenses |
|
|
7,968 |
|
|
|
42,061 |
|
|
|
6,514 |
|
|
|
12,940 |
|
|
|
58,633 |
|
|
|
9,081 |
|
General and administrative expenses |
|
|
9,303 |
|
|
|
1,583,904 |
|
|
|
245,315 |
|
|
|
15,788 |
|
|
|
1,610,559 |
|
|
|
249,444 |
|
|
|
|
23,977 |
|
|
|
1,660,593 |
|
|
|
257,192 |
|
|
|
40,248 |
|
|
|
1,709,251 |
|
|
|
264,730 |
|
KANZHUN LIMITEDUNAUDITED
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts
in thousands, except for share and per share data, unless otherwise
noted)
|
|
As of |
|
|
|
December 31, 2020 |
|
|
June 30, 2021 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
3,998,203 |
|
|
|
11,088,959 |
|
|
|
1,717,461 |
|
Short-term investments |
|
|
536,401 |
|
|
|
619,695 |
|
|
|
95,979 |
|
Accounts receivable |
|
|
6,999 |
|
|
|
2,595 |
|
|
|
402 |
|
Amounts due from related parties |
|
|
40,799 |
|
|
|
9,081 |
|
|
|
1,406 |
|
Prepayments and other current assets |
|
|
164,910 |
|
|
|
263,352 |
|
|
|
40,788 |
|
Total current assets |
|
|
4,747,312 |
|
|
|
11,983,682 |
|
|
|
1,856,036 |
|
Non-current assets |
|
|
|
|
|
|
|
|
|
|
|
|
Property, equipment and software, net |
|
|
191,355 |
|
|
|
235,689 |
|
|
|
36,504 |
|
Intangible assets, net |
|
|
549 |
|
|
|
504 |
|
|
|
78 |
|
Right-of-use assets, net |
|
|
144,063 |
|
|
|
185,413 |
|
|
|
28,717 |
|
Other non-current assets |
|
- |
|
|
|
4,000 |
|
|
|
620 |
|
Total non-current assets |
|
|
335,967 |
|
|
|
425,606 |
|
|
|
65,919 |
|
Total assets |
|
|
5,083,279 |
|
|
|
12,409,288 |
|
|
|
1,921,955 |
|
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’
(DEFICIT)/EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
41,856 |
|
|
|
102,041 |
|
|
|
15,804 |
|
Deferred revenue |
|
|
1,200,349 |
|
|
|
1,870,478 |
|
|
|
289,700 |
|
Other payable and accrued liabilities |
|
|
418,259 |
|
|
|
372,999 |
|
|
|
57,770 |
|
Operating lease liabilities, current |
|
|
59,559 |
|
|
|
83,579 |
|
|
|
12,945 |
|
Total current liabilities |
|
|
1,720,023 |
|
|
|
2,429,097 |
|
|
|
376,219 |
|
Non-current liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Operating lease liabilities, non-current |
|
|
76,373 |
|
|
|
98,281 |
|
|
|
15,222 |
|
Total non-current liabilities |
|
|
76,373 |
|
|
|
98,281 |
|
|
|
15,222 |
|
Total liabilities |
|
|
1,796,396 |
|
|
|
2,527,378 |
|
|
|
391,441 |
|
Mezzanine equity |
|
|
5,587,000 |
|
|
- |
|
|
- |
|
Shareholders’ (deficit)/equity |
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares |
|
|
81 |
|
|
|
521 |
|
|
|
81 |
|
Treasury shares (3,657,853 shares as of December 31, 2020 and nil
as of June 30, 2021, respectively) |
|
- |
|
|
- |
|
|
- |
|
Additional paid-in capital |
|
|
452,234 |
|
|
|
14,216,249 |
|
|
|
2,201,817 |
|
Accumulated other comprehensive loss |
|
|
(130,387 |
) |
|
|
(122,503 |
) |
|
|
(18,973 |
) |
Accumulated deficit |
|
|
(2,622,045 |
) |
|
|
(4,212,357 |
) |
|
|
(652,411 |
) |
Total shareholders’ (deficit)/equity |
|
|
(2,300,117 |
) |
|
|
9,881,910 |
|
|
|
1,530,514 |
|
Total liabilities, mezzanine equity and shareholders’
(deficit)/equity |
|
|
5,083,279 |
|
|
|
12,409,288 |
|
|
|
1,921,955 |
|
KANZHUN LIMITEDUNAUDITED
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS(All amounts in thousands, except for share and per
share data, unless otherwise noted)
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
Net cash (used in)/generated from operating activities |
|
(14,242 |
) |
|
|
671,208 |
|
|
|
103,957 |
|
|
|
(293,584 |
) |
|
|
836,543 |
|
|
|
129,564 |
|
Net cash (used in)/generated from investing activities |
|
(12,281 |
) |
|
|
(90,867 |
) |
|
|
(14,074 |
) |
|
|
1,058,089 |
|
|
|
(167,365 |
) |
|
|
(25,922 |
) |
Net cash generated from financing activities |
- |
|
|
|
6,424,406 |
|
|
|
995,014 |
|
|
|
1,048,706 |
|
|
|
6,412,214 |
|
|
|
993,125 |
|
Effect of exchange rate changes on cash and cash equivalents |
|
(1,572 |
) |
|
|
(17,068 |
) |
|
|
(2,643 |
) |
|
|
27,505 |
|
|
|
9,364 |
|
|
|
1,450 |
|
Net (decrease)/increase in cash and cash equivalents |
|
(28,095 |
) |
|
|
6,987,679 |
|
|
|
1,082,254 |
|
|
|
1,840,716 |
|
|
|
7,090,756 |
|
|
|
1,098,217 |
|
Cash and cash equivalents at beginning of the period |
|
2,276,166 |
|
|
|
4,101,280 |
|
|
|
635,207 |
|
|
|
407,355 |
|
|
|
3,998,203 |
|
|
|
619,244 |
|
Cash and cash equivalents at end of the period |
|
2,248,071 |
|
|
|
11,088,959 |
|
|
|
1,717,461 |
|
|
|
2,248,071 |
|
|
|
11,088,959 |
|
|
|
1,717,461 |
|
KANZHUN LIMITEDUNAUDITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts
in thousands, except for share and per share data, unless otherwise
noted)
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
|
RMB |
|
|
RMB |
|
|
US$ |
|
Revenues |
|
|
426,483 |
|
|
|
1,168,182 |
|
|
|
180,929 |
|
|
|
709,094 |
|
|
|
1,956,717 |
|
|
|
303,057 |
|
Add: Change in deferred revenue |
|
|
98,180 |
|
|
|
276,306 |
|
|
|
42,794 |
|
|
|
125,911 |
|
|
|
670,129 |
|
|
|
103,790 |
|
Calculated cash billings |
|
|
524,663 |
|
|
|
1,444,488 |
|
|
|
223,723 |
|
|
|
835,005 |
|
|
|
2,626,846 |
|
|
|
406,847 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
|
(167,383 |
) |
|
|
(1,414,133 |
) |
|
|
(219,022 |
) |
|
|
(446,215 |
) |
|
|
(1,590,312 |
) |
|
|
(246,309 |
) |
Add: Share-based compensation expenses |
|
|
23,977 |
|
|
|
1,660,593 |
|
|
|
257,192 |
|
|
|
40,248 |
|
|
|
1,709,251 |
|
|
|
264,730 |
|
Adjusted net (loss)/income |
|
|
(143,406 |
) |
|
|
246,460 |
|
|
|
38,170 |
|
|
|
(405,967 |
) |
|
|
118,939 |
|
|
|
18,421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to ordinary shareholders |
|
|
(232,604 |
) |
|
|
(1,485,935 |
) |
|
|
(230,143 |
) |
|
|
(576,230 |
) |
|
|
(1,754,377 |
) |
|
|
(271,719 |
) |
Add: Share-based compensation expenses |
|
|
23,977 |
|
|
|
1,660,593 |
|
|
|
257,192 |
|
|
|
40,248 |
|
|
|
1,709,251 |
|
|
|
264,730 |
|
Adjusted net (loss)/income attributable to ordinary
shareholders |
|
|
(208,627 |
) |
|
|
174,658 |
|
|
|
27,049 |
|
|
|
(535,982 |
) |
|
|
(45,126 |
) |
|
|
(6,989 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of ordinary shares used in computing
adjusted net (loss)/income per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
|
107,305,026 |
|
|
|
158,122,725 |
|
|
|
158,122,725 |
|
|
|
107,305,026 |
|
|
|
147,308,942 |
|
|
|
147,308,942 |
|
—Diluted |
|
|
107,305,026 |
|
|
|
264,847,465 |
|
|
|
264,847,465 |
|
|
|
107,305,026 |
|
|
|
147,308,942 |
|
|
|
147,308,942 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net (loss)/income per ordinary share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
|
(1.94 |
) |
|
|
1.10 |
|
|
|
0.17 |
|
|
|
(4.99 |
) |
|
|
(0.31 |
) |
|
|
(0.05 |
) |
—Diluted |
|
|
(1.94 |
) |
|
|
0.66 |
|
|
|
0.10 |
|
|
|
(4.99 |
) |
|
|
(0.31 |
) |
|
|
(0.05 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net (loss)/income per ADS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
|
(3.89 |
) |
|
|
2.21 |
|
|
|
0.34 |
|
|
|
(9.99 |
) |
|
|
(0.61 |
) |
|
|
(0.09 |
) |
—Diluted |
|
|
(3.89 |
) |
|
|
1.32 |
|
|
|
0.20 |
|
|
|
(9.99 |
) |
|
|
(0.61 |
) |
|
|
(0.09 |
) |
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