Kanzhun Limited (BZ) gained 2% in pre-market trading on Monday. CICC maintained its outperform rating on Kanzhun Limited with a target price of $23.

The company reported Q2 2025 revenue of 2.1 billion yuan, representing a 9.7% year-over-year increase, with Non-GAAP net profit of 946 million yuan, exceeding expectations primarily due to improved gross margins and optimized expense ratios. Platform monthly active users (MAU) grew 16.5% year-over-year, while the number of paying enterprise accounts maintained steady growth. AI applications continue to deepen across various recruitment processes, driving efficiency improvements and commercialization progress. Based on profit improvements, CICC raised its 2025/2026 Non-GAAP net profit forecasts by 8%/6%, corresponding to valuations of 21x/19x, suggesting 9% upside potential from current stock price levels.