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, 2022.
Fourth Quarter and Full Year 2022
Highlights
-
Revenues for the fourth quarter of 2022 were
RMB1,082.3 million (US$156.9 million), on par with that of the same
quarter of 2021. Revenues for the full year of
2022 were RMB4,511.1 million (US$654.0 million), an increase of
5.9% from RMB4,259.1 million for the full year of 2021.
- Calculated
cash billings1 for the fourth quarter of
2022 were RMB1,104.5 million (US$160.1 million), a decrease of 5.6%
from RMB1,169.5 million for the same quarter of 2021.
Calculated cash billings for the full year of 2022
were RMB4,613.4 million (US$668.9 million), a decrease of 8.1% from
RMB5,017.3 million for the full year of 2021.
- Average
monthly active users (MAU)2 for the
fourth quarter of 2022 were 30.9 million, an increase of 26.6% from
24.4 million for the same quarter of 2021. MAU for
the full year of 2022 were 28.7 million, an increase of 5.9% from
27.1 million for the full year of 2021.
- Total paid
enterprise customers3 in the twelve
months ended December 31, 2022 was 3.6 million, a decrease of 10.0%
from 4.0 million in the twelve months ended December 31, 2021.
- Net
loss for the fourth quarter of 2022 was RMB184.8 million
(US$26.8 million), compared to net income of RMB233.1 million for
the same quarter of 2021. Adjusted net
income4 for the fourth quarter of 2022
was RMB59.5 million (US$8.6 million), compared to RMB348.5 million
for the same quarter of 2021. Net income for the
full year of 2022 was RMB107.2 million (US$15.5 million), compared
to a net loss of RMB1,071.1 million for the full year of 2021.
Adjusted net income for the full year of 2022 was
RMB799.4 million (US$115.9 million), a decrease of 6.2% from
RMB852.6 million for the full year of 2021.
Mr. Jonathan Peng Zhao, Founder, Chairman and
Chief Executive Officer of the Company, commented, “In the past
quarters, our efforts to improve our user experience and service
capabilities have been continuously validated. We have witnessed
robust user growth and engagement since the beginning of 2023 as a
result of our enhanced brand recognition and strengthened
competitive advantages. With the revival in recruitment demand, we
are confident in delivering strong returns for our shareholders in
the years to come.”
Mr. Phil Yu Zhang, Chief Financial Officer,
added, “Amidst the various external challenges, including the
COVID-19 pandemic, we achieved a solid financial performance for
the fourth quarter and for the full year. We remained highly
efficient with our marketing activities while growing users at
scale. Encouraged by the recent recovery trend, we are optimistic
about embracing strong growth this year while maintaining
discipline in our marketing and other expenses to ensure
high-quality growth.”
________________________________
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/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 “Non-GAAP
Financial Measures.”
Fourth Quarter 2022 Financial
Results
Revenues
Revenues were RMB1,082.3 million (US$156.9
million) for the fourth quarter of 2022, which is on par with that
of the same period in 2021.
- Revenues from
online recruitment services to enterprise customers were RMB1,069.6
million (US$155.1 million) for the fourth quarter of 2022,
representing a decrease of 1.1% from RMB1,082.0 million for the
same period in 2021.
- Revenues from
other services, which mainly comprise paid value-added services
offered to job seekers, were RMB12.6 million (US$1.8 million) for
the fourth quarter of 2022, representing an increase of 44.8% from
RMB8.7 million for the same period in 2021, mainly benefiting from
expanded user base.
Operating cost and expenses
Total operating cost and expenses were
RMB1,426.1 million (US$206.8 million) for the fourth quarter of
2022, representing an increase of 69.5% from RMB841.4 million for
the same period of 2021. Total share-based compensation expenses
were RMB244.2 million (US$35.4 million) for the fourth quarter of
2022, representing an increase of 111.4% from RMB115.5 million for
the same period of 2021, primarily due to the grant of share-based
compensation awards related to the dual primary listing on the Main
Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong
Stock Exchange”).
- Cost of
revenues was RMB202.4 million (US$29.3 million) for the
fourth quarter of 2022, representing an increase of 35.1% from
RMB149.8 million for the same period of 2021, primarily driven by
increased server and bandwidth cost and increased employee-related
expenses.
- Sales and
marketing expenses were RMB682.1 million (US$98.9 million)
for the fourth quarter of 2022, representing an increase of 82.6%
from RMB373.5 million for the same period of 2021, primarily due to
increased brand advertising expenses mainly resulting from the
market campaigns during the 2022 FIFA World Cup, as well as
increased employee-related expenses.
- Research
and development expenses were RMB294.1 million (US$42.6
million) for the fourth quarter of 2022, representing an increase
of 47.9% from RMB198.9 million for the same period of 2021,
primarily due to increased employee-related expenses.
- General
and administrative expenses were RMB247.6 million (US$35.9
million) for the fourth quarter of 2022, representing an increase
of 107.7% from RMB119.2 million for the same period of 2021,
primarily due to increased professional service fees related to the
dual primary listing on the Hong Kong Stock Exchange, as well as
increased employee-related expenses.
Income/Loss from operations
Loss from operations was RMB340.5 million
(US$49.4 million) for the fourth quarter of 2022, compared to
income from operations of RMB253.3 million for the same period of
2021.
Net income/loss and adjusted net
income
Net loss was RMB184.8 million (US$26.8 million)
for the fourth quarter of 2022, compared to net income of RMB233.1
million for the same period of 2021.
Adjusted net income was RMB59.5 million (US$8.6
million) for the fourth quarter of 2022, compared to RMB348.5
million for the same quarter of 2021.
Net income/loss per ADS and adjusted net
income per ADS
Basic and diluted net loss per ADS attributable
to ordinary shareholders were both RMB0.43 (US$0.06) for the fourth
quarter of 2022, compared to basic and diluted net income per ADS
of RMB0.54 and RMB0.51, respectively, in the same period of
2021.
Adjusted basic and diluted net income per ADS
attributable to ordinary shareholders4 were RMB0.14 (US$0.02) and
RMB0.13 (US$0.02), respectively, for the fourth quarter of 2022,
compared to RMB0.81 and RMB0.76, respectively, in the same period
of 2021.
Net cash generated from operating
activities
Net cash generated from operating activities was
RMB155.5 million (US$22.6 million) in the fourth quarter of 2022,
representing a decrease of 70.9% from RMB534.9 million in the same
period of 2021. This decrease was primarily due to the payments for
the market campaigns during the 2022 FIFA World Cup.
Cash position
Balance of cash and cash equivalents and
short-term investments was RMB13,209.9 million (US$1,915.3 million)
as of December 31, 2022.
Full Year 2022 Financial
Results
Revenues
Revenues were RMB4,511.1 million (US$654.0
million) for the full year of 2022, representing an increase of
5.9% from RMB4,259.1 million for the full year of 2021.
- Revenues from
online recruitment services to enterprise customers were RMB4,461.3
million (US$646.8 million) for the full year of 2022, representing
an increase of 5.7% from RMB4,219.0 million for the full year of
2021.
- Revenues from
other services, which mainly comprise paid value-added services
offered to job seekers, were RMB49.8 million (US$7.2 million) for
the full year of 2022, representing an increase of 24.2% from
RMB40.1 million for the full year of 2021, mainly benefiting from
expanded user base.
Operating cost and expenses
Total operating cost and expenses were
RMB4,658.2 million (US$675.4 million) for the full year of 2022,
representing a decrease of 12.3% from RMB5,310.4 million for the
full year of 2021. Total share-based compensation expenses were
RMB692.2 million (US$100.4 million) for the full year of 2022,
representing a decrease of 64.0% from RMB1,923.6 million for the
full year of 2021.
- Cost of
revenues was RMB754.9 million (US$109.4 million) for the
full year of 2022, representing an increase of 36.1% from RMB554.6
million for the full year of 2021, primarily driven by increased
employee-related expenses and increased server and bandwidth
cost.
- Sales and
marketing expenses were RMB2,000.9 million (US$290.1
million) for the full year of 2022, representing an increase of
3.0% from RMB1,942.7 million for the full year of 2021, primarily
due to increased employee-related expenses and increased brand
advertising expenses, mainly resulting from the market campaigns
during the 2022 FIFA World Cup, partially offset by decreased
customer acquisition cost.
- Research
and development expenses were RMB1,182.7 million (US$171.5
million) for the full year of 2022, representing an increase of
43.9% from RMB822.0 million for the full year of 2021, primarily
due to increased employee-related expenses.
- General
and administrative expenses were RMB719.7 million
(US$104.3 million) for the full year of 2022, representing a
decrease of 63.9% from RMB1,991.1 million for the full year of
2021, primarily due to one-off share-based compensation expenses of
RMB1,506.4 million recognized in 2021, partially offset by
increased employee-related expenses.
Loss from operations
Loss from operations was RMB129.5 million
(US$18.8 million) for the full year of 2022, representing a
decrease of 87.5% from RMB1,036.3 million for the full year of
2021.
Net income/loss and adjusted net
income
Net income was RMB107.2 million (US$15.5
million) for the full year of 2022, compared to a net loss of
RMB1,071.1 million for the full year of 2021.
Adjusted net income was RMB799.4 million
(US$115.9 million) for the full year of 2022, representing a
decrease of 6.2% from RMB852.6 million for the full year of
2021.
Net income/loss per ADS and adjusted net
income per ADS
Basic and diluted net income per ADS
attributable to ordinary shareholders were RMB0.25 (US$0.04) and
RMB0.24 (US$0.03) for the full year of 2022, compared to basic and
diluted net loss per ADS of RMB4.67 for the full year of 2021.
Adjusted basic and diluted net income per ADS
attributable to ordinary shareholders were RMB1.84 (US$0.27) and
RMB1.75 (US$0.25), respectively, for the full year of 2022,
compared to RMB2.60 and RMB1.60 for the full year of 2021.
Net cash generated from operating
activities
Net cash generated from operating activities was
RMB1,003.0 million (US$145.4 million) for the full year of 2022,
representing a decrease of 38.9% from RMB1,641.4 million for the
full year of 2021.
Share Repurchase Program
In March 2023, the Company’s board of directors
authorized a new share repurchase program under which the Company
may repurchase up to US$150 million of its shares (including in the
form of ADS) over the next 12 months.
Dual Primary Listing in Hong
Kong
On December 22, 2022, the Company successfully
listed, by way of introduction, its Class A ordinary shares on the
Hong Kong Stock Exchange under the stock code of “2076”.
Outlook
For the first quarter of 2023, the Company
currently expects its total revenues to be between RMB1.25 billion
and RMB1.27 billion, representing a year-on-year increase of 9.8%
to 11.6%. This forecast reflects the Company’s current views on the
market and operational conditions in China, which are subject to
change and cannot be predicted with reasonable accuracy as of the
date hereof.
Conference Call Information
The Company will host a conference call at 8:00
AM U.S. Eastern Time on Monday, March 20, 2023 (8:00 PM
Beijing/Hong Kong Time on Monday, March 20, 2023) to discuss the
financial results.
Participants are required to pre-register for
the conference call
at:https://register.vevent.com/register/BI485a5b5ae0da41ec8bb3cda4d1742686
Upon registration, participants will receive an
email containing participant dial-in numbers and unique personal
PIN. This information will allow you to gain immediate access to
the call. Participants may pre-register at any time, including up
to and after the call start time.
Additionally, a live and archived webcast of the
conference call will be available on the Company's investor
relations website at https://ir.zhipin.com.
Exchange Rate
This announcement contains translations of
certain RMB amounts into U.S. dollar (“US$”) 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 RMB6.8972 to US$1.00 on December 30, 2022 as set forth in
the H.10 statistical release of the Federal Reserve Board. The
Company makes no representation that the RMB or US$ 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 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 ordinary 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 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/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
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 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 non-GAAP financial
measures to the most directly comparable GAAP 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 Hong Kong Stock Exchange,
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 Hong Kong Stock Exchange. 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 COMPREHENSIVE
INCOME/(LOSS)(All amounts in thousands, except for share
and per share data)
|
|
For the three months ended December 31, |
|
For the year ended December
31, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Online recruitment services to enterprise customers |
|
1,081,972 |
|
|
1,069,634 |
|
|
155,082 |
|
|
4,219,026 |
|
|
4,461,282 |
|
|
646,825 |
|
Others |
|
8,678 |
|
|
12,641 |
|
|
1,833 |
|
|
40,102 |
|
|
49,780 |
|
|
7,217 |
|
Total
revenues |
|
1,090,650 |
|
|
1,082,275 |
|
|
156,915 |
|
|
4,259,128 |
|
|
4,511,062 |
|
|
654,042 |
|
Operating cost and
expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues(1) |
|
(149,785 |
) |
|
(202,395 |
) |
|
(29,345 |
) |
|
(554,648 |
) |
|
(754,861 |
) |
|
(109,445 |
) |
Sales and marketing expenses(1) |
|
(373,471 |
) |
|
(682,057 |
) |
|
(98,889 |
) |
|
(1,942,670 |
) |
|
(2,000,900 |
) |
|
(290,103 |
) |
Research and development expenses(1) |
|
(198,933 |
) |
|
(294,061 |
) |
|
(42,635 |
) |
|
(821,984 |
) |
|
(1,182,716 |
) |
|
(171,478 |
) |
General and administrative expenses(1) |
|
(119,173 |
) |
|
(247,600 |
) |
|
(35,899 |
) |
|
(1,991,123 |
) |
|
(719,699 |
) |
|
(104,347 |
) |
Total operating cost
and expenses |
|
(841,362 |
) |
|
(1,426,113 |
) |
|
(206,768 |
) |
|
(5,310,425 |
) |
|
(4,658,176 |
) |
|
(675,373 |
) |
Other operating income, net |
|
4,029 |
|
|
3,350 |
|
|
486 |
|
|
14,977 |
|
|
17,595 |
|
|
2,551 |
|
Income/(Loss) from
operations |
|
253,317 |
|
|
(340,488 |
) |
|
(49,367 |
) |
|
(1,036,320 |
) |
|
(129,519 |
) |
|
(18,780 |
) |
Investment income |
|
8,953 |
|
|
34,038 |
|
|
4,935 |
|
|
24,744 |
|
|
65,150 |
|
|
9,446 |
|
Financial income, net |
|
2,981 |
|
|
83,319 |
|
|
12,080 |
|
|
9,735 |
|
|
161,332 |
|
|
23,391 |
|
Foreign exchange (loss)/gain |
|
(1,644 |
) |
|
(1,509 |
) |
|
(219 |
) |
|
(1,961 |
) |
|
8,627 |
|
|
1,251 |
|
Other (expenses)/income, net |
|
(1,076 |
) |
|
7,724 |
|
|
1,120 |
|
|
(7,745 |
) |
|
11,406 |
|
|
1,654 |
|
Income/(Loss) before
income tax expenses |
|
262,531 |
|
|
(216,916 |
) |
|
(31,451 |
) |
|
(1,011,547 |
) |
|
116,996 |
|
|
16,962 |
|
Income tax (expenses)/benefit |
|
(29,461 |
) |
|
32,123 |
|
|
4,657 |
|
|
(59,527 |
) |
|
(9,751 |
) |
|
(1,414 |
) |
Net
income/(loss) |
|
233,070 |
|
|
(184,793 |
) |
|
(26,794 |
) |
|
(1,071,074 |
) |
|
107,245 |
|
|
15,548 |
|
Accretion on convertible redeemable preferred shares to redemption
value |
|
- |
|
|
- |
|
|
- |
|
|
(164,065 |
) |
|
- |
|
|
- |
|
Net income/(loss)
attributable to ordinary shareholders |
|
233,070 |
|
|
(184,793 |
) |
|
(26,794 |
) |
|
(1,235,139 |
) |
|
107,245 |
|
|
15,548 |
|
Net income/(loss) |
|
233,070 |
|
|
(184,793 |
) |
|
(26,794 |
) |
|
(1,071,074 |
) |
|
107,245 |
|
|
15,548 |
|
Other comprehensive (loss)/income |
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
(175,647 |
) |
|
(200,559 |
) |
|
(29,078 |
) |
|
(127,378 |
) |
|
952,949 |
|
|
138,165 |
|
Total comprehensive income/(loss) |
|
57,423 |
|
|
(385,352 |
) |
|
(55,872 |
) |
|
(1,198,452 |
) |
|
1,060,194 |
|
|
153,713 |
|
Weighted average number of ordinary shares |
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
863,552,831 |
|
|
864,609,263 |
|
|
864,609,263 |
|
|
529,343,027 |
|
|
868,941,151 |
|
|
868,941,151 |
|
—Diluted |
|
922,941,599 |
|
|
864,609,263 |
|
|
864,609,263 |
|
|
529,343,027 |
|
|
912,141,991 |
|
|
912,141,991 |
|
Net income/(loss) per ordinary share attributable to
ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
0.27 |
|
|
(0.21 |
) |
|
(0.03 |
) |
|
(2.33 |
) |
|
0.12 |
|
|
0.02 |
|
—Diluted |
|
0.25 |
|
|
(0.21 |
) |
|
(0.03 |
) |
|
(2.33 |
) |
|
0.12 |
|
|
0.02 |
|
Net income/(loss) per ADS* attributable to ordinary
shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
0.54 |
|
|
(0.43 |
) |
|
(0.06 |
) |
|
(4.67 |
) |
|
0.25 |
|
|
0.04 |
|
—Diluted |
|
0.51 |
|
|
(0.43 |
) |
|
(0.06 |
) |
|
(4.67 |
) |
|
0.24 |
|
|
0.03 |
|
* Each ADS represents two Class A ordinary shares.
(1) Include share-based compensation expenses as follows:
|
For the three months ended December 31, |
|
For the year ended December
31, |
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Cost of revenues |
6,899 |
|
14,383 |
|
2,085 |
|
31,467 |
|
39,587 |
|
5,740 |
Sales and marketing
expenses |
28,895 |
|
63,753 |
|
9,243 |
|
73,733 |
|
170,366 |
|
24,701 |
Research and development
expenses |
42,499 |
|
99,378 |
|
14,408 |
|
137,820 |
|
284,323 |
|
41,223 |
General and administrative
expenses |
37,179 |
|
66,729 |
|
9,675 |
|
1,680,626 |
|
197,928 |
|
28,697 |
|
115,472 |
|
244,243 |
|
35,411 |
|
1,923,646 |
|
692,204 |
|
100,361 |
|
|
|
|
|
|
|
|
|
|
|
|
KANZHUN LIMITEDUNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts in
thousands)
|
|
As of December 31, |
|
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
ASSETS |
|
|
|
|
|
|
Current
assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
11,341,758 |
|
|
9,751,824 |
|
|
1,413,882 |
|
Short-term investments |
|
884,996 |
|
|
3,458,089 |
|
|
501,376 |
|
Accounts receivable, net |
|
1,002 |
|
|
9,862 |
|
|
1,430 |
|
Amounts due from related parties |
|
6,615 |
|
|
5,714 |
|
|
828 |
|
Prepayments and other current assets |
|
724,583 |
|
|
600,773 |
|
|
87,104 |
|
Total current
assets |
|
12,958,954 |
|
|
13,826,262 |
|
|
2,004,620 |
|
Non-current
assets |
|
|
|
|
|
|
Property, equipment and software, net |
|
369,126 |
|
|
691,036 |
|
|
100,191 |
|
Intangible assets, net |
|
458 |
|
|
10,251 |
|
|
1,486 |
|
Goodwill |
|
- |
|
|
5,690 |
|
|
825 |
|
Right-of-use assets, net |
|
309,085 |
|
|
289,628 |
|
|
41,992 |
|
Other non-current assets |
|
4,000 |
|
|
4,000 |
|
|
580 |
|
Total non-current
assets |
|
682,669 |
|
|
1,000,605 |
|
|
145,074 |
|
Total
assets |
|
13,641,623 |
|
|
14,826,867 |
|
|
2,149,694 |
|
LIABILITIES AND
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
Accounts payable |
|
52,963 |
|
|
185,297 |
|
|
26,866 |
|
Deferred revenue |
|
1,958,570 |
|
|
2,060,892 |
|
|
298,801 |
|
Other payables and accrued liabilities |
|
645,138 |
|
|
633,482 |
|
|
91,846 |
|
Operating lease liabilities, current |
|
127,531 |
|
|
151,438 |
|
|
21,956 |
|
Total current
liabilities |
|
2,784,202 |
|
|
3,031,109 |
|
|
439,469 |
|
Non-current
liabilities |
|
|
|
|
|
|
Operating lease liabilities, non-current |
|
183,365 |
|
|
143,591 |
|
|
20,819 |
|
Deferred tax liabilities |
|
- |
|
|
11,404 |
|
|
1,653 |
|
Total non-current
liabilities |
|
183,365 |
|
|
154,995 |
|
|
22,472 |
|
Total
liabilities |
|
2,967,567 |
|
|
3,186,104 |
|
|
461,941 |
|
Shareholders’
equity |
|
|
|
|
|
|
Ordinary shares |
|
554 |
|
|
564 |
|
|
82 |
|
Treasury shares |
|
- |
|
|
(918,894 |
) |
|
(133,227 |
) |
Additional paid-in capital |
|
14,624,386 |
|
|
15,450,389 |
|
|
2,240,096 |
|
Accumulated other comprehensive (loss)/income |
|
(257,765 |
) |
|
695,184 |
|
|
100,793 |
|
Accumulated deficit |
|
(3,693,119 |
) |
|
(3,586,480 |
) |
|
(519,991 |
) |
Total shareholders’
equity |
|
10,674,056 |
|
|
11,640,763 |
|
|
1,687,753 |
|
Total liabilities and
shareholders’ equity |
|
13,641,623 |
|
|
14,826,867 |
|
|
2,149,694 |
|
|
|
|
|
|
|
|
|
|
|
KANZHUN LIMITEDUNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(All
amounts in thousands)
|
|
For the three months ended December 31, |
|
For the year ended December
31, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Net cash generated from operating activities |
|
534,910 |
|
|
155,543 |
|
|
22,552 |
|
|
1,641,381 |
|
|
1,003,042 |
|
|
145,427 |
|
Net cash generated from/(used
in) investing activities |
|
203,889 |
|
|
(725,495 |
) |
|
(105,187 |
) |
|
(601,862 |
) |
|
(2,816,581 |
) |
|
(408,365 |
) |
Net cash generated from/(used
in) financing activities |
|
21,419 |
|
|
(627,954 |
) |
|
(91,045 |
) |
|
6,431,263 |
|
|
(669,232 |
) |
|
(97,029 |
) |
Effect of exchange rate
changes on cash and cash equivalents |
|
(174,825 |
) |
|
(209,026 |
) |
|
(30,306 |
) |
|
(127,227 |
) |
|
892,837 |
|
|
129,449 |
|
Net
increase/(decrease) in cash and cash equivalents |
|
585,393 |
|
|
(1,406,932 |
) |
|
(203,986 |
) |
|
7,343,555 |
|
|
(1,589,934 |
) |
|
(230,518 |
) |
Cash and cash equivalents at
beginning of the period |
|
10,756,365 |
|
|
11,158,756 |
|
|
1,617,868 |
|
|
3,998,203 |
|
|
11,341,758 |
|
|
1,644,400 |
|
Cash and cash
equivalents at end of the period |
|
11,341,758 |
|
|
9,751,824 |
|
|
1,413,882 |
|
|
11,341,758 |
|
|
9,751,824 |
|
|
1,413,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KANZHUN LIMITEDUNAUDITED
RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts
in thousands, except for share and per share data)
|
|
For the three months ended December 31, |
|
For the year ended December 31, |
|
|
|
|
|
|
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Revenues |
|
1,090,650 |
|
1,082,275 |
|
|
156,915 |
|
|
4,259,128 |
|
|
4,511,062 |
|
654,042 |
Add: Change in deferred
revenue |
|
78,851 |
|
22,223 |
|
|
3,222 |
|
|
758,221 |
|
|
102,322 |
|
14,835 |
Calculated cash
billings |
|
1,169,501 |
|
1,104,498 |
|
|
160,137 |
|
|
5,017,349 |
|
|
4,613,384 |
|
668,877 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income/(loss) |
|
233,070 |
|
(184,793 |
) |
|
(26,794 |
) |
|
(1,071,074 |
) |
|
107,245 |
|
15,548 |
Add: Share-based compensation
expenses |
|
115,472 |
|
244,243 |
|
|
35,411 |
|
|
1,923,646 |
|
|
692,204 |
|
100,361 |
Adjusted net
income |
|
348,542 |
|
59,450 |
|
|
8,617 |
|
|
852,572 |
|
|
799,449 |
|
115,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income/(loss) attributable
to ordinary shareholders |
|
233,070 |
|
(184,793 |
) |
|
(26,794 |
) |
|
(1,235,139 |
) |
|
107,245 |
|
15,548 |
Add: Share-based compensation
expenses |
|
115,472 |
|
244,243 |
|
|
35,411 |
|
|
1,923,646 |
|
|
692,204 |
|
100,361 |
Adjusted net income
attributable to ordinary shareholders |
|
348,542 |
|
59,450 |
|
|
8,617 |
|
|
688,507 |
|
|
799,449 |
|
115,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of
ordinary shares (Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
863,552,831 |
|
864,609,263 |
|
|
864,609,263 |
|
|
529,343,027 |
|
|
868,941,151 |
|
868,941,151 |
—Diluted |
|
922,941,599 |
|
897,830,249 |
|
|
897,830,249 |
|
|
859,160,014 |
|
|
912,141,991 |
|
912,141,991 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net income per
ordinary share attributable to ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
0.40 |
|
0.07 |
|
|
0.01 |
|
|
1.30 |
|
|
0.92 |
|
0.13 |
—Diluted |
|
0.38 |
|
0.07 |
|
|
0.01 |
|
|
0.80 |
|
|
0.88 |
|
0.13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net income per ADS
attributable to ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
|
0.81 |
|
0.14 |
|
|
0.02 |
|
|
2.60 |
|
|
1.84 |
|
0.27 |
—Diluted |
|
0.76 |
|
0.13 |
|
|
0.02 |
|
|
1.60 |
|
|
1.75 |
|
0.25 |
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