BOSS直聘2024年第4季度及全年财务业绩（英文版）（11页）.pdf

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1、1 KANZHUN LIMITED Announces Fourth Quarter and Full Year 2024 Financial Results BEIJING,March 11,2025 KANZHUN LIMITED(“BOSS Zhipin”or the“Company”)(Nasdaq:BZ;HKEX:2076),a leading online recruitment platform in China,today announced its unaudited financial results for the quarter and full year ended

2、December 31,2024.Fourth Quarter and Full Year 2024 Highlights Total paid enterprise customers1 in the twelve months ended December 31,2024 were 6.1 million,an increase of 17.3%from 5.2 million in the twelve months ended December 31,2023.Average monthly active users(MAU)2 for the fourth quarter of 20

3、24 were 52.7 million,an increase of 27.9%from 41.2 million for the same quarter of 2023.Average MAU for the full year of 2024 were 53.0 million,an increase of 25.3%from 42.3 million for the full year of 2023.Revenues for the fourth quarter of 2024 were RMB1,823.6 million(US$249.8 million),an increas

4、e of 15.4%from RMB1,580.2 million for the same quarter of 2023.Revenues for the full year of 2024 were RMB7,355.7 million(US$1,007.7 million),an increase of 23.6%from RMB5,952.0 million for the full year of 2023.Income from operations for the fourth quarter of 2024 was RMB380.6 million(US$52.1 milli

5、on),an increase of 71.2%from RMB222.3 million for the same quarter of 2023.Adjusted income from operations3 for the fourth quarter of 2024 was RMB658.8 million(US$90.3 million),an increase of 26.8%from RMB519.7 million for the same quarter of 2023.Income from operations for the full year of 2024 was

6、 RMB1,172.9 million(US$160.7 million),an increase of 101.9%from RMB581.0 million for the full year of 2023.Adjusted income from operations for the full year of 2024 was RMB2,316.6 million(US$317.4 million),an increase of 41.4%from RMB1,637.9 million for the full year of 2023.Net income for the fourt

7、h quarter of 2024 was RMB444.2 million(US$60.9 million),an increase of 34.1%from RMB331.2 million for the same quarter of 2023.Adjusted net income3 for the fourth quarter of 2024 was RMB722.4 million(US$99.0 million),an increase of 14.9%from RMB628.6 million for the same quarter of 2023.Net income f

8、or the full year of 2024 was RMB1,567.0 million(US$214.7 million),an increase of 42.6%from RMB1,099.2 million for the full year of 2023.Adjusted net income for the full year 1 Paid enterprise customers are defined as enterprise users and company accounts from which we recognize revenues for our onli

9、ne recruitment services.2 Monthly active users refer to the number of verified user accounts,including both job seekers and enterprise users,that logged on to our mobile application in a given month at least once.3 It is a non-GAAP financial measure,excluding the impact of share-based compensation e

10、xpenses.For more information about the non-GAAP financial measures,please see the section of“Non-GAAP Financial Measures.”2 of 2024 was RMB2,710.7 million(US$371.4 million),an increase of 25.7%from RMB2,156.2 million for the full year of 2023.Mr.Jonathan Peng Zhao,Founder,Chairman and Chief Executiv

11、e Officer of the Company,remarked,“Over the past year,we have remained steadfast in our user-first principle,enhancing product capabilities and service efficiency through technological empowerment while deepening our understanding of user needs.Amidst a fluctuant industry environment,our user-centri

12、c growth strategy has driven structural business progress,achieving dual improvement in both revenue and profitability.Technological capability and innovation remain our core DNA.By integrating our proprietary model“Nanbeige”,the first recruitment-specific large language model,and the deployment of

13、DeepSeek,we have successfully launched a series of AI powered products and solutions,including AI agent,for both job seekers and recruiters.These advancements position us at the vanguard of exploring frontier AI applications that are reshaping the future of online recruitment.”Mr.Phil Yu Zhang,Chief

14、 Financial Officer of the Company,elaborated,“We are pleased to achieve solid sets of financial result.In 2024,our revenues grew by 23.6%year over year,propelled by sustained,high-quality user growth,and enhanced monetization capabilities through continuous service innovation.Notably,our adjusted op

15、erating margin reached a new record high of 31.5%,benefiting from strong operating leverages brought by our effective business model,improved marketing and operation efficiency.”Fourth Quarter 2024 Financial Results Revenues Revenues were RMB1,823.6 million(US$249.8 million)for the fourth quarter of

16、 2024,representing an increase of 15.4%from RMB1,580.2 million for the same quarter of 2023.Revenues from online recruitment services to enterprise customers were RMB1,804.1 million(US$247.2 million)for the fourth quarter of 2024,representing an increase of 15.2%from RMB1,566.7 million for the same

17、quarter of 2023.This increase was mainly driven by the paid enterprise user growth.Revenues from other services,which mainly comprise paid value-added services offered to job seekers,were RMB19.5 million(US$2.7 million)for the fourth quarter of 2024,representing an increase of 44.4%from RMB13.5 mill

18、ion for the same quarter of 2023,mainly benefiting from expanded user base.Operating cost and expenses Total operating cost and expenses were RMB1,456.3 million(US$199.5 million)for the fourth quarter of 2024,representing an increase of 6.8%from RMB1,363.3 million for the same quarter of 2023.Total

19、share-based compensation expenses were RMB278.2 million(US$38.1 million)for the fourth quarter of 2024,representing a decrease of 6.5%from RMB297.4 million for the same quarter of 2023.Cost of revenues was RMB313.7 million(US$43.0 million)for the fourth quarter of 2024,representing an increase of 14

20、.2%from RMB274.8 million for the same quarter of 2023,primarily due to increases in cost related to other businesses.Sales and marketing expenses were RMB426.3 million(US$58.4 million)for the fourth quarter of 2024,representing a decrease of 1.7%from RMB433.5 million for the same quarter of 2023,3 p

21、rimarily due to a decrease in advertising and marketing expenses,largely offset by an increase in employee-related expenses.Research and development expenses were RMB440.4 million(US$60.3 million)for the fourth quarter of 2024,representing an increase of 2.4%from RMB430.2 million for the same quarte

22、r of 2023,primarily due to an increase in investments in technology,largely offset by a decrease in employee-related expenses.General and administrative expenses were RMB275.8 million(US$37.8 million)for the fourth quarter of 2024,representing an increase of 22.7%from RMB224.8 million for the same q

23、uarter of 2023,primarily due to an increase in employee-related expenses.Income from operations and adjusted income from operations Income from operations was RMB380.6 million(US$52.1 million)for the fourth quarter of 2024,representing an increase of 71.2%from RMB222.3 million for the same quarter o

24、f 2023.Adjusted income from operations was RMB658.8 million(US$90.3 million)for the fourth quarter of 2024,representing an increase of 26.8%from RMB519.7 million for the same quarter of 2023.Net income and adjusted net income Net income was RMB444.2 million(US$60.9 million)for the fourth quarter of

25、2024,representing an increase of 34.1%from RMB331.2 million for the same quarter of 2023.Adjusted net income was RMB722.4 million(US$99.0 million)for the fourth quarter of 2024,representing an increase of 14.9%from RMB628.6 million for the same quarter of 2023.Net income per American depositary shar

26、e(“ADS”)and adjusted net income per ADS Basic and diluted net income per ADS attributable to ordinary shareholders for the fourth quarter of 2024 were RMB1.03(US$0.14)and RMB1.00(US$0.14),respectively,compared to basic and diluted net income per ADS of RMB0.76 and RMB0.73 for the same quarter of 202

27、3.Adjusted basic and diluted net income per ADS attributable to ordinary shareholders3 for the fourth quarter of 2024 were RMB1.67(US$0.23)and RMB1.62(US$0.22),respectively,compared to adjusted basic and diluted net income per ADS of RMB1.43 and RMB1.39 for the same quarter of 2023.Net cash provided

28、 by operating activities Net cash provided by operating activities was RMB956.1 million(US$131.0 million)for the fourth quarter of 2024,representing an increase of 3.2%from RMB926.8 million for the same quarter of 2023.Cash position Balance of cash and cash equivalents,short-term time deposits and s

29、hort-term investments was RMB14,681.1 million(US$2,011.3 million)as of December 31,2024.4 Full Year 2024 Financial Results Revenues Revenues were RMB7,355.7 million(US$1,007.7 million)for the full year of 2024,representing an increase of 23.6%from RMB5,952.0 million for the full year of 2023.Revenue

30、s from online recruitment services to enterprise customers were RMB7,270.0 million(US$996.0 million)for the full year of 2024,representing an increase of 23.4%from RMB5,889.1 million for the full year of 2023.This increase was mainly driven by the paid enterprise user growth.Revenues from other serv

31、ices,which mainly comprise paid value-added services offered to job seekers,were RMB85.7 million(US$11.7 million)for the full year of 2024,representing an increase of 36.2%from RMB62.9 million for the full year of 2023,mainly benefiting from expanded user base.Operating cost and expenses Total opera

32、ting cost and expenses were RMB6,222.5 million(US$852.5 million)for the full year of 2024,representing an increase of 15.1%from RMB5,406.4 million for the full year of 2023.Total share-based compensation expenses were RMB1,143.7 million(US$156.7 million)for the full year of 2024,representing an incr

33、ease of 8.2%from RMB1,057.0 million for the full year of 2023.Cost of revenues was RMB1,239.7 million(US$169.8 million)for the full year of 2024,representing an increase of 17.0%from RMB1,059.9 million for the full year of 2023,primarily due to increases in server and bandwidth cost,payment processi

34、ng cost and cost related to other businesses.Sales and marketing expenses were RMB2,073.1 million(US$284.0 million)for the full year of 2024,representing an increase of 4.1%from RMB1,991.2 million for the full year of 2023,primarily due to an increase in employee-related expenses,partially offset by

35、 a decrease in advertising and marketing expenses.Research and development expenses were RMB1,815.8 million(US$248.8 million)for the full year of 2024,representing an increase of 17.6%from RMB1,543.6 million for the full year of 2023,primarily due to an increase in investments in technology.General

36、and administrative expenses were RMB1,093.9 million(US$149.9 million)for the full year of 2024,representing an increase of 34.7%from RMB811.8 million for the full year of 2023,primarily due to an increase in employee-related expenses.Income from operations and adjusted income from operations Income

37、from operations was RMB1,172.9 million(US$160.7 million)for the full year of 2024,representing an increase of 101.9%from RMB581.0 million for the full year of 2023.Adjusted income from operations was RMB2,316.6 million(US$317.4 million)for the full year of 2024,representing an increase of 41.4%from

38、RMB1,637.9 million for the full year of 2023.5 Net income and adjusted net income Net income was RMB1,567.0 million(US$214.7 million)for the full year of 2024,representing an increase of 42.6%from RMB1,099.2 million for the full year of 2023.Adjusted net income was RMB2,710.7 million(US$371.4 millio

39、n)for the full year of 2024,representing an increase of 25.7%from RMB2,156.2 million for the full year of 2023.Net income per ADS and adjusted net income per ADS Basic and diluted net income per ADS attributable to ordinary shareholders for the full year of 2024 were RMB3.59(US$0.49)and RMB3.49(US$0

40、.48),respectively,compared to basic and diluted net income per ADS of RMB2.53 and RMB2.44 for the full year of 2023.Adjusted basic and diluted net income per ADS attributable to ordinary shareholders for the full year of 2024 were RMB6.19(US$0.85)and RMB6.00(US$0.82),respectively,compared to adjuste

41、d basic and diluted net income per ADS of RMB4.96 and RMB4.78 for the full year of 2023.Net cash provided by operating activities Net cash provided by operating activities was RMB3,542.5 million(US$485.3 million)for the full year of 2024,representing an increase of 16.3%from RMB3,047.0 million for t

42、he full year of 2023.Share Repurchase Program In August 2024,the Companys board of directors authorized a new share repurchase program effective from August 29,2024 for a 12-month period,under which the Company may repurchase up to US$150 million of its shares(including in the form of ADSs).This sha

43、re repurchase program operates in conjunction with the previous share repurchase program that became effective on March 20,2024 for a 12-month period,under which the Company may repurchase up to US$200 million of its shares(including in the form of ADSs).The Company has repurchased more than US$90 m

44、illion of its shares in the fourth quarter of 2024,bringing the total repurchases for the year of 2024 to around US$229 million(including shares purchased by a trustee from the open market to hold on trust),representing 3.7%of the issued and outstanding shares as of December 31,2024.This underscores

45、 the Companys confidence in its long-term growth prospects and its commitment to delivering sustained returns to shareholders.Outlook For the first quarter of 2025,the Company currently expects its total revenues to be between RMB1.90 billion and RMB1.92 billion,representing a year-on-year increase

46、of 11.5%to 12.7%.This forecast reflects the Companys current views on the market and operational conditions in China,which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.6 Conference Call Information The Company will host a conference call at 8:00 AM U.S

47、.Eastern Time on Tuesday,March 11,2025(8:00 PM Beijing Time on Tuesday,March 11,2025)to discuss the financial results.Participants are required to pre-register for the conference call at:https:/ Upon registration,participants will receive an email containing participant dial-in numbers and a unique

48、personal PIN.This information will allow you to gain immediate access to the call.Participants may pre-register at any time,including up to and after the call start time.Additionally,a live and archived webcast of the conference call will be available on the Companys investor relations website at ht

49、tps:/ Rate This announcement contains translations of certain RMB amounts into U.S.dollar(“US$”)amounts at specified rates solely for the convenience of the reader.Unless otherwise stated,all translations from RMB to US$were made at the exchange rate of RMB7.2993 to US$1.00 on December 31,2024 as se

50、t forth in the H.10 statistical release of the Federal Reserve Board.The Company makes no representation that the RMB or US$amounts referred could be converted into US$or RMB,as the case may be,at any particular rate or at all.Non-GAAP Financial Measures In evaluating the business,the Company consid

51、ers and uses non-GAAP financial measures,such as adjusted income from operations,adjusted net income,adjusted net income attributable to ordinary shareholders,adjusted basic and diluted net income per ordinary share attributable to ordinary shareholders and adjusted basic and diluted net income per

52、ADS attributable to ordinary shareholders as supplemental measures to review and assess operating performance.The Company defines these non-GAAP financial measures by excluding the impact of share-based compensation expenses,which are non-cash expenses,from the related GAAP financial measures.The Co

53、mpany believes that these non-GAAP financial measures help identify underlying trends in the business and facilitate investors assessment of the Companys operating performance.The non-GAAP financial measures are not presented in accordance with U.S.GAAP and may be different from non-GAAP information

54、 used by other companies.The non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for most directly comparable GAAP financial measures.The Company encourages investors and others to review its financial information in its entir

55、ety and not rely on a single financial measure.A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures has been provided in the table captioned“Unaudited Reconciliation of GAAP and Non-GAAP Results”at the end of this press release.7 Safe Harbor Sta

56、tement This press release contains statements that may constitute“forward-looking”statements which are made pursuant to the“safe harbor”provisions of the U.S.Private Securities Litigation Reform Act of 1995.These forward-looking statements can be identified by terminology such as“will,”“expects,”“an

57、ticipates,”“aims,”“future,”“intends,”“plans,”“believes,”“estimates,”“likely to,”and similar statements.The Company may also make written or oral forward-looking statements in its periodic reports to the U.S.Securities and Exchange Commission,in announcements made on the website of The Stock Exchange

58、 of Hong Kong Limited,in its interim and annual reports to shareholders,in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties.Statements that are not historical facts,including but not limited to statements about the Company

59、s beliefs,plans,and expectations,are forward-looking statements.Forward-looking statements involve inherent risks and uncertainties.Further information regarding these and other risks is included in the Companys filings with the U.S.Securities and Exchange Commission and The Stock Exchange of Hong K

60、ong Limited.All information provided in this press release is as of the date of this press release,and the Company does not undertake any obligation to update any forward-looking statement,except as required under applicable law.About KANZHUN LIMITED KANZHUN LIMITED operates the leading online recru

61、itment platform BOSS Zhipin in China.The Company connects job seekers and enterprise users in an efficient and seamless manner through its highly interactive mobile app,a transformative product that promotes two-way communication,focuses on intelligent recommendations,and creates new scenarios in th

62、e online recruiting process.Benefiting from its large and diverse user base,BOSS Zhipin has developed powerful network effects to deliver higher recruitment efficiency and drive rapid expansion.For investor and media inquiries,please contact:KANZHUN LIMITED Investor Relations Email: PIACENTE FINANCI

63、AL COMMUNICATIONS Email:kanzhuntpg- 8 KANZHUN LIMITED Unaudited Condensed Consolidated Statements of Operations(All amounts in thousands,except share and per share data)For the three months ended December 31,For the year ended December 31,2023 2024 2023 2024 RMB RMB US$RMB RMB US$Revenues Online rec

64、ruitment services to enterprise customers 1,566,722 1,804,114 247,163 5,889,101 7,270,026 995,989 Others 13,509 19,492 2,670 62,927 85,651 11,734 Total revenues 1,580,231 1,823,606 249,833 5,952,028 7,355,677 1,007,723 Operating cost and expenses Cost of revenues(1)(274,846)(313,715)(42,979)(1,059,8

65、61)(1,239,712)(169,840)Sales and marketing expenses(1)(433,454)(426,345)(58,409)(1,991,226)(2,073,052)(284,007)Research and development expenses(1)(430,164)(440,360)(60,329)(1,543,568)(1,815,809)(248,765)General and administrative expenses(1)(224,787)(275,835)(37,789)(811,787)(1,093,949)(149,870)Tot

66、al operating cost and expenses (1,363,251)(1,456,255)(199,506)(5,406,442)(6,222,522)(852,482)Other operating income,net 5,272 13,210 1,810 35,385 39,791 5,451 Income from operations 222,252 380,561 52,137 580,971 1,172,946 160,692 Interest and investment income,net 163,409 156,464 21,435 606,757 625

67、,282 85,663 Foreign exchange(loss)/gain (1,203)(132)(18)1,088 (68)(9)Other(expenses)/income,net (4,000)(1,925)(264)32,973 34,500 4,726 Income before income tax expenses 380,458 534,968 73,290 1,221,789 1,832,660 251,072 Income tax expenses (49,217)(90,743)(12,432)(122,571)(265,634)(36,392)Net income

68、 331,241 444,225 60,858 1,099,218 1,567,026 214,680 Net loss attributable to non-controlling interests 9 5,383 737 9 17,638 2,416 Net income attributable to ordinary shareholders of KANZHUN LIMITED 331,250 449,608 61,595 1,099,227 1,584,664 217,096 Weighted average number of ordinary shares used in

69、computing net income per share Basic 876,231,301 874,099,493 874,099,493 870,304,878 881,882,225 881,882,225 Diluted 903,709,325 898,715,743 898,715,743 902,735,995 909,228,757 909,228,757 Net income per ordinary share attributable to ordinary shareholders Basic 0.38 0.51 0.07 1.26 1.80 0.25 Diluted

70、 0.37 0.50 0.07 1.22 1.74 0.24 Net income per ADS(2)attributable to ordinary shareholders Basic 0.76 1.03 0.14 2.53 3.59 0.49 Diluted 0.73 1.00 0.14 2.44 3.49 0.48 (1)Include share-based compensation expenses as follows:For the three months ended December 31,For the year ended December 31,2023 2024

71、2023 2024 RMB RMB US$RMB RMB US$Cost of revenues 11,417 10,080 1,381 46,395 43,332 5,936 Sales and marketing expenses 69,836 71,209 9,756 262,431 280,668 38,451 Research and development expenses 113,832 106,079 14,533 418,769 421,411 57,733 General and administrative expenses 102,321 90,830 12,444 3

72、29,372 398,274 54,563 Total 297,406 278,198 38,114 1,056,967 1,143,685 156,683 (2)Each ADS represents two Class A ordinary shares.9 KANZHUN LIMITED Unaudited Condensed Consolidated Balance Sheets(All amounts in thousands)As of December 31,2023 2024 RMB RMB US$ASSETS Current assets Cash and cash equi

73、valents 2,472,959 2,553,090 349,772 Short-term time deposits 6,922,803 5,488,631 751,939 Short-term investments 3,513,885 6,639,389 909,593 Accounts and notes receivable,net 16,727 40,713 5,578 Inventories -3,042 417 Amounts due from related parties 3,966 7,258 994 Prepayments and other current asse

74、ts 442,697 368,260 50,451 Total current assets 13,373,037 15,100,383 2,068,744 Non-current assets Long-term investments 2,473,128 1,914,530 262,290 Property,equipment and software,net 1,793,488 1,733,786 237,528 Right-of-use assets,net 282,612 302,856 41,491 Intangible assets,net 8,093 252,589 34,60

75、5 Goodwill 5,690 6,528 894 Other non-current assets 4,000 -Total non-current assets 4,567,011 4,210,289 576,808 Total assets 17,940,048 19,310,672 2,645,552 LIABILITIES AND SHAREHOLDERS EQUITY Current liabilities Accounts payable 629,216 110,668 15,162 Deferred revenue 2,794,075 3,084,839 422,621 Ot

76、her payables and accrued liabilities 779,046 815,767 111,760 Operating lease liabilities,current 155,014 180,782 24,767 Total current liabilities 4,357,351 4,192,056 574,310 Non-current liabilities Operating lease liabilities,non-current 125,079 121,345 16,624 Deferred tax liabilities 28,425 34,451

77、4,720 Total non-current liabilities 153,504 155,796 21,344 Total liabilities 4,510,855 4,347,852 595,654 Total shareholders equity 13,429,193 14,962,820 2,049,898 Total liabilities and shareholders equity 17,940,048 19,310,672 2,645,552 10 KANZHUN LIMITED Unaudited Condensed Consolidated Statements

78、of Cash Flows(All amounts in thousands)For the three months ended December 31,For the year ended December 31,2023 2024 2023 2024 RMB RMB US$RMB RMB US$Net cash provided by operating activities 926,837 956,108 130,986 3,047,009 3,542,495 485,320 Net cash used in investing activities (489,496)(723,128

79、)(99,068)(9,938,645)(2,016,899)(276,314)Net cash used in financing activities (442,151)(520,351)(71,288)(417,022)(1,460,539)(200,093)Effect of exchange rate changes on cash and cash equivalents 33,149 24,303 3,330 29,793 15,074 2,065 Net increase/(decrease)in cash and cash equivalents 28,339 (263,06

80、8)(36,040)(7,278,865)80,131 10,978 Cash and cash equivalents at beginning of the period 2,444,620 2,816,158 385,812 9,751,824 2,472,959 338,794 Cash and cash equivalents at end of the period 2,472,959 2,553,090 349,772 2,472,959 2,553,090 349,772 11 KANZHUN LIMITED Unaudited Reconciliation of GAAP a

81、nd Non-GAAP Results (All amounts in thousands,except share and per share data)For the three months ended December 31,For the year ended December 31,2023 2024 2023 2024 RMB RMB US$RMB RMB US$Income from operations 222,252 380,561 52,137 580,971 1,172,946 160,692 Add:Share-based compensation expenses

82、297,406 278,198 38,114 1,056,967 1,143,685 156,683 Adjusted income from operations 519,658 658,759 90,251 1,637,938 2,316,631 317,375 Net income 331,241 444,225 60,858 1,099,218 1,567,026 214,680 Add:Share-based compensation expenses 297,406 278,198 38,114 1,056,967 1,143,685 156,683 Adjusted net in

83、come 628,647 722,423 98,972 2,156,185 2,710,711 371,