What’s new: BZ’s reported 4Q24 revs that were largely in-line with consensus and our expectations. Guidance implies sequential recovery in recruitment demand. Outlook including user growth and non-GAAP operating profit target for FY25 remains intact. We up our PT from USD20 to USD25 on improving demand environment. Our updated PT of USD25 implies 23.6x FY25E P/E. We maintain our BUY rating. Analysts: Jin Yoon
What’s new: BZ’s reported 3Q24 revs that were largely in-line with consensus and our expectations. Guidance implies that online recruitment demand remains challenging in 4Q24. While upside to FY25 revs would be dependent on incremental policy rollouts, margin would further improve as BZ remains disciplined in its spending. We maintain our PT at USD20. Analysts: Jin Yoon
What’s new: BZ’s reported 2Q24 revs that were largely in-line with consensus and our expectations. Guidance implies that online recruitment demand could be challenging in the 3Q and that visibility in the 2H remains limited. Non-GAAP operating profit outlook could remain intact despite slower-than-expected top-line growth. We lower our PT from USD25 to USD20 due to lowered near-term outlook. Our updated PT of USD20 implies a 19.8x FY25E P/E. We maintain our BUY rating. Analysts: Jin Yoon
What’s new: BZ’s 1Q24 results were above consensus and our expectations. Guidance implies that online recruitment demand could continue to see sequential growth in 2Q partly driven by recovery in KA. Margins could also improve YoY amid continued cost controls. We maintain our PT at USD25. Analysts: Jin Yoon
What’s new: BZ’s 4Q23 results were above consensus and our expectations. Online recruitment demand could continue to see sequential growth in 1Q partly driven by recovery in KA. Margins could also further improve YoY as the company would remain disciplined in its overall spending. We up our PT from USD17 to USD25 and upgrade from NEUTRAL to BUY rating on improving FY24 outlook. Our revised PT of USD25 implies a 31.1x FY24 P/E. Analysts: Jin Yoon
What’s New: We are initiating on Kanzhun Ltd (BZ US) with a NEUTRAL rating at a PT of USD17, which implies 25.0x FY24E P/E. We remain constructive about BZ’s competitive business moat coupled with strong mindshare gains – especially among SMEs. However structural unemployment and underemployment could take time to recover which may limit potential upside in monetization and market share gains. Analysts: Jin Yoon
Kanzhun, an online recruitment platform in China, raised around US$1bn in its US IPO in Jun 2021. The company is backed by Tencent. Kanzhun runs BOSS Zhipin APP, which allows enterprise users and jobseekers to directly chat, thus, providing more convenience to both. Kanzhun is the largest online recruitment platform in China, as measured by average MAU in 2020, according to the CIC Report. As of Mar 2021, it had 13.0m verified enterprise users, 6.3m verified enterprises, and 85.8m verified job ...
On 2nd Dec 2021, Securities Exchange Commission (SEC) issued Final amendments to implement the Holding Foreign Companies Accountable Act (HFCAA). On 24th Mar 2021, SEC had issued Amendments, Seeks Public Comment on HFCAA. This was a follow up on the HFCAA which was signed by Trump on 18th Dec 2020 and which seeks to stop China ADRs from being traded on the US exchanges. We have covered the background in our previous notes: China ADRs Secondary Listing Deep-Dive: Yin and Yang, published in Feb ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
On 27th May 2021, U.S. Senators Marco Rubio and Bob Casey introduced the No IPOs for Unaccountable Actors Act, which aims to prohibit IPO on U.S. exchanges for Chinese companies. The act is a follow up on the Holding Foreign Companies Accountable Act which was signed by Trump on 18th Dec 2020 and which seeks to stop China ADRs from being traded on the US exchanges. We have covered the background in our previous notes: China ADRs Secondary Listing Deep-Dive: Yin and Yang, published in Feb 2020...
Kanzhun, an online recruitment platform in China, aims to raise up to US$912m in its US IPO. The company is backed by Tencent. Kanzhun runs BOSS Zhipin APP, which allows enterprise users and jobseekers to directly chat, thus, providing more convenience to both. Kanzhun is the largest online recruitment platform in China, as measured by average MAU in 2020, according to the CIC Report. As of Mar 2021, it had 13.0m verified enterprise users, 6.3m verified enterprises, and 85.8m verified job seeke...
Kanzhun, an online recruitment platform in China, aims to raise around US$800m in its US IPO. The company is backed by Tencent. Kanzhun runs BOSS Zhipin APP, which allows enterprise users and jobseekers to directly chat, thus, providing more convenience to both. Kanzhun is the largest online recruitment platform in China, as measured by average MAU in 2020, according to the CIC Report. As of Mar 2021, it had 13.0m verified enterprise users, 6.3m verified enterprises, and 85.8m verified job seek...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.