Hong Kong, 18 March 2026—Kanzhun Ltd., operating online recruitment platform “BOSS Zhipin”, posted double-digit top- and bottom-line growth for the year ended 31 December 2025.
Financial highlights • Revenue grew 12.4 % year-on-year to RMB8.27 billion, driven mainly by a 12.7 % increase in online recruitment services to enterprise customers to RMB8.19 billion. • Income from operations more than doubled to RMB2.46 billion, lifting the operating margin to 29.8 % from 15.9 % in 2024. • Net income reached RMB2.69 billion, up 71.7 %, with net margin expanding to 32.5 %. • Non-GAAP adjusted net income climbed 32.9 % to RMB3.60 billion after adding back RMB0.91 billion of share-based compensation. • Cash, cash equivalents, short-term deposits and short-term investments totalled RMB19.94 billion at year-end, while the Group remained debt-free.
Cost structure • Cost of revenues was broadly stable at RMB1.24 billion. • Sales and marketing expenses fell 18.3 % to RMB1.69 billion, reflecting lower advertising and personnel costs. • R&D spending declined 8.9 % to RMB1.65 billion. • General and administrative expenses increased 9.6 % to RMB1.20 billion, mainly due to an intangible-asset impairment. Overall operating costs and expenses decreased 7.1 % to RMB5.78 billion, supporting the sharp margin improvement.
Operational metrics • Monthly active users (MAU) averaged 60.7 million, up 14.5 %; the DAU/MAU ratio stood at 24.4 %. • Growth was supported by deeper penetration among blue-collar workers, lower-tier cities and SME clients. • The company advanced its AI roadmap, with proprietary large language model “Nanbeige” topping HuggingFace’s trending text models and being embedded across recommendation and commercial products.
Capital markets & shareholder returns • A Hong Kong public offering of 34.50 million Class A ordinary shares raised net proceeds of approximately HK$2.20 billion on 4 July 2025. • An annual cash dividend of US$77.9 million (US$0.084 per ordinary share) was distributed in October 2025. • From 2026 onward, at least 50 % of the previous year’s adjusted net income is earmarked annually for dividends and share repurchases; the buyback authorisation has been lifted to US$400 million through August 2027.
Tax & regulation • Income tax expense rose 91.9 % to RMB0.51 billion, including RMB37.6 million of Pillar-Two top-up tax and RMB14.7 million of withholding tax on dividends from PRC subsidiaries.
Balance sheet and liquidity • Net operating cash inflow reached RMB4.55 billion. • The Group reported no interest-bearing debt, no pledged assets and no material capital commitments or contingent liabilities.
Outlook Management targets continued user-base expansion, AI-driven product upgrades, accelerated overseas rollout and enhanced shareholder returns through its newly adopted dividend and buyback framework.