KANZHUN LIMITED Repurchased Ordinary Shares Continuously Over the Past Week, Total of USD44 Million of Shares Bought Back Under Current Repurchase Program

BEIJING, July 26, 2024 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”), a leading online recruitment platform in China, recently announced that the Company repurchased over 2.12 million ordinary shares with a total value of USD15.8 million for the past week. Over the past four months since March 27, 2024, the Company has repurchased approximately 5 million ordinary shares with a total value of USD44.0 million.

BOSS Zhipin is the largest online recruitment platform in China. Founded in 2014, BOSS Zhipin is a pioneer in introducing a next-generation Direct Recruitment Model, which is transforming China’s online recruitment industry. The mobile-native product promotes instant direct communication between recruiters and job seekers and delivers accurate matching results through its proprietary recommendation algorithms powered by big data insights.

Benefiting from the unique business model and strong technology capability, BOSS Zhipin continuously delivered solid performance. On May 21, 2024, the Company announced its unaudited financial results for the quarter ended March 31, 2024. Revenues reached RMB1,703.8 million in the first quarter of 2024, an increase of 33% from RMB1,277.5 million for the same quarter of 2023. Adjusted net income remained healthy, totaled RMB530.7 million, an increase of 117% from RMB 245.0 million for the same quarter of 2023.

In the full year 2023, the Company achieved a revenue of RMB 5.95 billion, up by 32% year-on-year. Excluding share-based compensation expenses, the adjusted net income for the year reached RMB 2.16 billion. Furthermore, excluding other income, such as wealth management income, the adjusted operating income for 2023 was RMB 1.64 billion, reflecting a remarkable 191% year-on-year increase. This resulted in a 27% adjusted operating margin.

BOSS Zhipin’s performance underscores its robust profitability capability, growth potential, and market-leading position. The Company’s ongoing repurchases reflect the management's long-term confidence in its development.