$BZ

Kanzhun Ltd

CIK:0001842827|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Revenues
Total revenues	¥ 8,267,518	$ 1,182,240	¥ 7,355,677	¥ 5,952,028
Operating cost and expenses
Cost of revenues	(1,235,153)	(176,625)	(1,239,712)	(1,059,861)
Sales and marketing expenses	(1,693,245)	(242,131)	(2,073,052)	(1,991,226)
Research and development expenses	(1,653,601)	(236,462)	(1,815,809)	(1,543,568)
General and administrative expenses	(1,199,367)	(171,507)	(1,093,949)	(811,787)
Total operating cost and expenses	(5,781,366)	(826,725)	(6,222,522)	(5,406,442)
Other operating income/(expenses), net	(22,051)	(3,153)	39,791	35,385
Income from operations	2,464,101	352,362	1,172,946	580,971
Interest and investment income, net	705,963	100,951	625,282	606,757
Foreign exchange gain/(loss)	11,161	1,596	(68)	1,088
Other income, net	18,987	2,715	34,500	32,973
Income before income tax expenses	3,200,212	457,624	1,832,660	1,221,789
Income tax expenses	(509,745)	(72,893)	(265,634)	(122,571)
Net income	2,690,467	384,731	1,567,026	1,099,218
Net loss attributable to non-controlling interests	44,873	6,417	17,638	9
Net income attributable to ordinary shareholders of KANZHUN LIMITED	¥ 2,735,340	$ 391,148	¥ 1,584,664	¥ 1,099,227
Weighted average number of ordinary shares used in computing net income per share
- Basic	901,033,318	901,033,318	881,882,225	870,304,878
- Diluted	926,992,531	926,992,531	909,228,757	902,735,995
Net income per share attributable to ordinary shareholders of KANZHUN LIMITED
- Basic \| (per share)	¥ 3.04	$ 0.43	¥ 1.8	¥ 1.26
- Diluted \| (per share)	¥ 2.95	$ 0.42	¥ 1.74	¥ 1.22
Other comprehensive income/(loss), net of tax
Foreign currency translation adjustments	¥ (256,618)	$ (36,696)	¥ 154,202	¥ 186,976
Net change in unrealized gains on available-for-sale investments-Unrealized gains	75,653	10,818	1,701	16,650
Net change in unrealized gains on available-for-sale investments-Reclassification of gains to net income	(31,209)	(4,463)
Unrealized gains on available-for-sale investments, net of reclassification	44,444	6,355	1,701	16,650
Total other comprehensive income/(loss)	(212,174)	(30,341)	155,903	203,626
Total comprehensive income	2,478,293	354,390	1,722,929	1,302,844
Comprehensive loss attributable to non-controlling interests	45,186	6,461	17,487	9
Comprehensive income attributable to ordinary shareholders of KANZHUN LIMITED	2,523,479	360,851	1,740,416	1,302,853
Online recruitment services to enterprise customers
Revenues
Total revenues	8,192,714	1,171,543	7,270,026	5,889,101
Others
Revenues
Total revenues	¥ 74,804	$ 10,697	¥ 85,651	¥ 62,927

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities
Net income	¥ 2,690,467	$ 384,731	¥ 1,567,026	¥ 1,099,218
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation	911,987	130,413	1,143,685	1,056,967
Depreciation of property, equipment and software	517,915	74,061	468,378	256,594
Amortization and impairment of intangible assets	151,680	21,690	33,504	2,158
Amortization of right-of-use assets	145,416	20,794	184,601	169,137
Loss from disposal of property, equipment and software	51,149	7,314	649	183
Foreign exchange (gain)/loss	(11,161)	(1,596)	68	(1,088)
Interest and investment income	(47,693)	(6,820)	(11,140)	(288,042)
Deferred income tax expenses/(benefit)	(20,932)	(2,993)	8,538	14,083
Allowance for credit losses	694	99	793	86
Changes in operating assets and liabilities:
Accounts and notes receivable	7,161	1,024	(17,487)	(7,037)
Inventories	647	93	(3,042)
Prepayments and other current assets	(18,675)	(2,671)	133,760	123,933
Amounts due from related parties	(1,983)	(284)	(3,249)	1,748
Other non-current assets			4,000
Accounts payable	(4,735)	(677)	(28,677)	24,744
Deferred revenue	151,120	21,610	289,505	733,183
Other payables and accrued liabilities	177,388	25,366	(47,933)	31,931
Operating lease liabilities	(148,074)	(21,174)	(180,484)	(170,789)
Net cash provided by operating activities	4,552,371	650,980	3,542,495	3,047,009
Cash flows from investing activities
Purchases of property, equipment and software	(119,123)	(17,034)	(856,047)	(955,511)
Disposal of property, equipment and software	50,604	7,236	120	6,953
Purchases of time deposits	(8,704,129)	(1,244,674)	(6,117,060)	(9,698,390)
Maturities of time deposits	6,886,007	984,686	7,600,176	3,982,982
Purchases of short-term and long-term investments	(20,435,985)	(2,922,307)	(10,396,017)	(9,563,742)
Maturities of short-term and long-term investments	17,714,414	2,533,127	7,902,150	6,289,129
Payments for business acquisitions, net of cash acquired			(150,221)	(66)
Net cash used in investing activities	(4,608,212)	(658,966)	(2,016,899)	(9,938,645)
Cash flows from financing activities
Proceeds from exercise of share-based awards	347,646	49,713	191,320	217,712
Proceeds from share offer, net of issuance cost	2,002,670	286,378
Repurchase of ordinary shares	(142,798)	(20,420)	(1,651,859)	(71,835)
Payments of dividends	(553,010)	(79,079)		(562,899)
Net cash (used in)/provided by financing activities	1,654,508	236,592	(1,460,539)	(417,022)
Effect of exchange rate changes on cash and cash equivalents	(46,840)	(6,698)	15,074	29,793
Net (decrease)/increase in cash and cash equivalents	1,551,827	221,908	80,131	(7,278,865)
Cash and cash equivalents at beginning of the year	2,553,090	365,087	2,472,959	9,751,824
Cash and cash equivalents at end of the year	4,104,917	586,995	2,553,090	2,472,959
Supplemental cash flow disclosure
Cash paid for income tax	503,952	72,063	306,758	133,456
Supplemental disclosures of non-cash investing and financing activities
Changes in payables for purchase of property, equipment and software	14,033	2,007	(527,372)	419,175
Changes in consideration payable for share repurchase	¥ (71,133)	$ (10,172)	¥ (20,324)	¥ 113,802

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Current assets
Cash and cash equivalents	¥ 4,104,917	$ 586,995	¥ 2,553,090
Short-term time deposits	6,390,158	913,780	5,488,631
Short-term investments	9,450,244	1,351,367	6,639,389
Accounts and notes receivable, net	33,137	4,739	40,713
Inventories	2,395	342	3,042
Amounts due from related parties	¥ 9,241	$ 1,321	¥ 7,258
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Prepayments and other current assets	¥ 365,205	$ 52,224	¥ 368,260
Total current assets	20,355,297	2,910,768	15,100,383
Non-current assets
Long-term time deposits	782,460	111,890
Long-term investments	1,898,178	271,436	1,914,530
Property, equipment and software, net	1,245,022	178,036	1,733,786
Right-of-use assets, net	161,452	23,087	302,856
Intangible assets, net	100,909	14,430	252,589
Goodwill	6,528	934	6,528
Deferred tax assets	18,168	2,598
Total non-current assets	4,212,717	602,411	4,210,289
Total assets	24,568,014	3,513,179	19,310,672
Current liabilities
Accounts payable	119,966	17,155	110,668
Deferred revenue	3,235,959	462,736	3,084,839
Other payables and accrued liabilities	921,319	131,747	815,767
Operating lease liabilities, current	94,016	13,444	180,782
Total current liabilities	4,371,260	625,082	4,192,056
Non-current liabilities
Operating lease liabilities, non-current	64,027	9,156	121,345
Deferred tax liabilities	51,689	7,391	34,451
Total non-current liabilities	115,716	16,547	155,796
Total liabilities	4,486,976	641,629	4,347,852
Commitments and contingencies
Shareholders' equity
Ordinary shares (US$0.0001 par value; 1,800,000,000 Class A ordinary shares and 200,000,000 Class B ordinary shares authorised; 761,663,103 Class A ordinary shares issued and 730,807,661 outstanding, 138,490,401 Class B ordinary shares issued and outstanding as of December 31, 2024; 836,223,103 Class A ordinary shares issued and 800,557,411 outstanding, 130,430,401 Class B ordinary shares issued and outstanding as of December 31, 2025)	618	88	571
Treasury shares (30,855,442 and 35,665,692 shares held as of December 31, 2024 and 2025, respectively)	(203,993)	(29,171)	(1,519,708)
Additional paid-in capital	18,115,108	2,590,426	16,234,535
Statutory reserves	52,114	7,452	15,051
Accumulated other comprehensive income	842,701	120,505	1,054,562
(Accumulated deficit)/Retained earnings	1,224,227	175,062	(917,640)
Total KANZHUN LIMITED shareholders' equity	20,030,775	2,864,362	14,867,371
Non-controlling interests	50,263	7,188	95,449
Total shareholders' equity	20,081,038	2,871,550	14,962,820
Total liabilities and shareholders' equity	¥ 24,568,014	$ 3,513,179	¥ 19,310,672