Kanzhun Ltd 6-K, filed Aug 29, 2023

Kanzhun Ltd (BZ)

6-K 2023-08-29 For: 2023-08-29

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Added on April 11, 2026

About this 6-K

Kanzhun Ltd filed this 6-K on August 29, 2023.

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Exhibit No.		Description
99.1		Press Release—KANZHUN LIMITED Announces Second Quarter 2023 Financial Results
99.2		Announcement—Interim Results Announcement for the Six Months Ended June 30, 2023
99.3		Announcement—Change of Joint Company Secretary and Waiver from Strict Compliance with Rules 3.28 and 8.17 of the Listing Rules

KANZHUN LIMITED

By	:	/s/ Yu Zhang
Name	:	Yu Zhang
Title	:	Director and Chief Financial Officer

	For the three months ended June 30,									For the six months ended June 30,
	2022			2023						2022			2023
	RMB			RMB			US$			RMB			RMB			US$
Revenues
Online recruitment services to enterprise customers		1,099,866			1,470,822			202,836			2,227,184			2,730,879			376,605
Others		12,478			16,793			2,316			23,040			34,282			4,728
Total revenues		1,112,344			1,487,615			205,152			2,250,224			2,765,161			381,333
Operating cost and expenses
Cost of revenues⁽¹⁾		(174,230	)		(270,322	)		(37,279	)		(351,578	)		(517,486	)		(71,365	)
Sales and marketing expenses⁽¹⁾		(399,526	)		(471,593	)		(65,036	)		(921,900	)		(1,100,431	)		(151,756	)
Research and development expenses⁽¹⁾		(307,686	)		(365,907	)		(50,461	)		(598,425	)		(698,975	)		(96,393	)
General and administrative expenses⁽¹⁾		(160,348	)		(202,986	)		(27,993	)		(316,035	)		(367,572	)		(50,690	)
Total operating cost and expenses		(1,041,790	)		(1,310,808	)		(180,769	)		(2,187,938	)		(2,684,464	)		(370,204	)
Other operating income/(expenses), net		5,734			(1,776	)		(245	)		10,743			17,035			2,349
Income from operations		76,288			175,031			24,138			73,029			97,732			13,478
Investment income		7,801			95,473			13,166			17,075			147,084			20,284
Financial income, net		20,508			55,805			7,696			24,185			131,587			18,147
Foreign exchange gain		5,136			3,907			539			4,694			2,808			387
Other (expenses)/income, net⁽²⁾		(15,685	)		(1,113	)		(153	)		(24,539	)		4,529			625
Income before income tax expenses⁽²⁾		94,048			329,103			45,386			94,444			383,740			52,921
Income tax expenses		(1,555	)		(19,506	)		(2,690	)		(14,123	)		(41,480	)		(5,720	)
Net income⁽²⁾		92,493			309,597			42,696			80,321			342,260			47,201
Net income attributable to ordinary shareholders⁽²⁾		92,493			309,597			42,696			80,321			342,260			47,201

Net income⁽²⁾		92,493			309,597			42,696			80,321			342,260			47,201
Other comprehensive income
Foreign currency translation adjustments		583,255			543,703			74,980			539,012			403,775			55,683
Total comprehensive income⁽²⁾		675,748			853,300			117,676			619,333			746,035			102,884

Weighted average number of ordinary shares used in computing net income per share
—Basic		869,222,984			868,643,514			868,643,514			869,427,036			867,314,841			867,314,841
—Diluted		912,341,882			900,111,944			900,111,944			917,484,059			903,757,988			903,757,988
Net income per ordinary share attributable to ordinary shareholders⁽²⁾
—Basic		0.11			0.36			0.05			0.09			0.39			0.05
—Diluted		0.10			0.34			0.05			0.09			0.38			0.05
Net income per ADS⁽³⁾ attributable to ordinary shareholders⁽²⁾
—Basic		0.21			0.71			0.10			0.18			0.79			0.11
—Diluted		0.20			0.69			0.09			0.18			0.76			0.10

	For the three months ended June 30,						For the six months ended June 30,
	2022		2023				2022		2023
	RMB		RMB		US$		RMB		RMB		US$
Cost of revenues		8,394		12,352		1,703		16,113		22,962		3,167
Sales and marketing expenses		34,487		64,067		8,835		63,817		124,530		17,173
Research and development expenses		57,702		105,756		14,584		115,117		196,430		27,089
General and administrative expenses		49,237		76,727		10,581		87,999		127,271		17,551
		149,820		258,902		35,703		283,046		471,193		64,980

	As of
	December 31, 2022			June 30, 2023
	RMB			RMB			US$
ASSETS
Current assets
Cash and cash equivalents		9,751,824			2,740,769			377,969
Time deposits and short-term investments		3,458,089			10,050,063			1,385,967
Accounts receivable, net		9,862			15,196			2,096
Amounts due from related parties		5,714			9,536			1,315
Prepayments and other current assets		600,773			436,934			60,256
Total current assets		13,826,262			13,252,498			1,827,603
Non-current assets
Property, equipment and software, net		691,036			892,752			123,116
Intangible assets, net		10,251			9,172			1,265
Goodwill		5,690			5,690			785
Right-of-use assets, net		289,628			266,474			36,748
Long-term investments		-			1,952,215			269,223
Other non-current assets		4,000			4,000			552
Total non-current assets		1,000,605			3,130,303			431,689
Total assets		14,826,867			16,382,801			2,259,292
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable		185,297			173,483			23,924
Deferred revenue		2,060,892			2,564,777			353,699
Other payables and accrued liabilities		633,482			520,012			71,713
Operating lease liabilities, current		151,438			148,926			20,538
Total current liabilities		3,031,109			3,407,198			469,874
Non-current liabilities
Operating lease liabilities, non-current		143,591			117,780			16,243
Deferred tax liabilities		11,404			25,815			3,560
Total non-current liabilities		154,995			143,595			19,803
Total liabilities		3,186,104			3,550,793			489,677
Shareholders’ equity
Ordinary shares		564			564			78
Treasury shares		(918,894	)		(989,786	)		(136,498	)
Additional paid-in capital		15,450,389			15,966,491			2,201,880
Accumulated other comprehensive income		695,184			1,098,959			151,553
Accumulated deficit		(3,586,480	)		(3,244,220	)		(447,398	)
Total shareholders’ equity		11,640,763			12,832,008			1,769,615
Total liabilities and shareholders’ equity		14,826,867			16,382,801			2,259,292

	For the six months ended June 30,
	2022		2023
	(Unaudited)		(Unaudited)
	(RMB in thousands)
Net income		80,321		342,260
Add: Share-based compensation expenses		283,046		471,193
Adjusted net income (non-GAAP financial measure)		363,367		813,453

¹	MAU refers to the number of verified user accounts, including both job seekers and enterprise users, that logged on to our BOSS Zhipin mobile app in a given month at least once.

²	DAU refers to the number of verified user accounts, including both job seekers and enterprise users, that logged on to our BOSS Zhipin mobile app in a given day at least once.

Note:

(1)	Share-based compensation expenses were allocated as follows:

Issue date	Parties to the fixed rate notes		Interest rate (per annum)	Maturity date	Payment of principal and return	Principal amount of subscription

May 30, 2023	•	The Company	5.30%	May 30, 2025	The principal amount will be paid on the maturity date. Interest will be paid on May 30 of each year from and including May 30, 2024 up to and including the maturity date.	USD150,000,000
	•	UBS AG (acting through its London Branch) as the issuer. UBS AG, which is incorporated and domiciled in Switzerland, engages in a full range of financial services activities as a bank.	5.30%	May 30, 2025		USD150,000,000

June 14, 2023	•	The Company	5.33%	June 14, 2024	The principal amount and the interest amount will be paid on the maturity date.	USD100,000,000
	•	Goldman Sachs Finance Corp International Ltd (“Goldman Sachs”) as the issuer. Goldman Sachs is a registered public limited company domiciled in Jersey. It issues warrants, certificates and notes (debt securities) in the European and Asian markets.	5.33%	June 14, 2024		USD100,000,000

June 14, 2023	•	The Company	5.23%	June 14, 2025	The principal amount and the interest amount will be paid on the maturity date.	USD70,000,000
	•	Goldman Sachs as the issuer.	5.23%	June 14, 2025		USD70,000,000

Function	Number of employees		% of total
Sales and marketing		2,702		49.7	%
Research and development		1,346		24.8	%
Operations		1,111		20.4	%
General administration		275		5.1	%
Total		5,434		100.0	%

		For the six months ended June 30,
	Notes	2022			2023
		RMB			RMB
		(in thousands, except for share
		and per share data)
Revenues
Online recruitment services to enterprise customers			2,227,184			2,730,879
Others			23,040			34,282
Total revenues	3		2,250,224			2,765,161
Operating cost and expenses
Cost of revenues			(351,578	)		(517,486	)
Sales and marketing expenses			(921,900	)		(1,100,431	)
Research and development expenses			(598,425	)		(698,975	)
General and administrative expenses			(316,035	)		(367,572	)
Total operating cost and expenses			(2,187,938	)		(2,684,464	)
Other operating income, net			10,743			17,035
Income from operations			73,029			97,732
Investment income			17,075			147,084
Financial income, net			24,185			131,587
Foreign exchange gain			4,694			2,808
Other (expenses)/income, net			(24,539	)		4,529
Income before income tax expenses			94,444			383,740
Income tax expenses	4		(14,123	)		(41,480	)
Net income			80,321			342,260
Net income attributable to ordinary shareholders			80,321			342,260

Net income			80,321			342,260
Other comprehensive income
Foreign currency translation adjustments			539,012			403,775
Total comprehensive income			619,333			746,035

Weighted average number of ordinary shares used in computing net income per share	5
– Basic			869,427,036			867,314,841
– Diluted			917,484,059			903,757,988
Net income per share attributable to ordinary shareholders	5
– Basic			0.09			0.39
– Diluted			0.09			0.38

	Notes	As of December 31, 2022			As of June 30, 2023
		RMB			RMB
		(in thousands)
ASSETS
Current assets
Cash and cash equivalents			9,751,824			2,740,769
Time deposits and short-term investments	6		3,458,089			10,050,063
Accounts receivable, net	7		9,862			15,196
Amounts due from related parties			5,714			9,536
Prepayments and other current assets	8		600,773			436,934
Total current assets			13,826,262			13,252,498
Non-current assets
Property, equipment and software, net			691,036			892,752
Intangible assets, net			10,251			9,172
Goodwill			5,690			5,690
Right-of-use assets, net			289,628			266,474
Long-term investments	6		–			1,952,215
Other non-current assets			4,000			4,000
Total non-current assets			1,000,605			3,130,303
Total assets			14,826,867			16,382,801
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable	9		185,297			173,483
Deferred revenue			2,060,892			2,564,777
Other payables and accrued liabilities	10		633,482			520,012
Operating lease liabilities, current			151,438			148,926
Total current liabilities			3,031,109			3,407,198
Non-current liabilities
Operating lease liabilities, non-current			143,591			117,780
Deferred tax liabilities			11,404			25,815
Total non-current liabilities			154,995			143,595
Total liabilities			3,186,104			3,550,793
Shareholders’ equity Ordinary shares			564			564
Treasury shares			(918,894	)		(989,786	)
Additional paid-in capital			15,450,389			15,966,491
Accumulated other comprehensive income			695,184			1,098,959
Accumulated deficit			(3,586,480	)		(3,244,220	)
Total shareholders’ equity			11,640,763			12,832,008
Total liabilities and shareholders’ equity			14,826,867			16,382,801

	For the six months ended June 30,
	2022			2023
	RMB			RMB
	(in thousands)
Net cash provided by operating activities		480,948			1,307,618
Net cash used in investing activities		(97,909	)		(8,390,368	)
Net cash (used in)/provided by financing activities		(87,816	)		68,955
Effect of exchange rate changes on cash and cash equivalents		537,116			2,740
Net increase/(decrease) in cash and cash equivalents		832,339			(7,011,055	)
Cash and cash equivalents at beginning of the period		11,341,758			9,751,824
Cash and cash equivalents at end of the period		12,174,097			2,740,769

	As of		As of
	December 31,		June 30,
	2022		2023
	RMB		RMB
	(in thousands)
Time deposits and short-term investments
– Time deposits		793,042		7,087,902
– Wealth management products		2,665,047		1,879,280
– Fixed rate notes*		–		724,399
– Structured deposits		–		351,164
– Listed equity securities		–		7,318
Total time deposits and short-term investments		3,458,089		10,050,063

Long-term investments
– Fixed rate notes*		–		1,590,925
– Structured deposits		–		361,290
Total long-term investments		–		1,952,215

	By order of the Board
	KANZHUN LIMITED
	Mr. Peng Zhao
	Founder, Chairman and Chief Executive Officer