Kanzhun (BZ) Q2 2024 Earnings Call Transcript

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Wed, April 1, 2026 astatine 8:44 AM CDT 21 min read

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Wednesday, August 28, 2024 astatine 8 a.m. ET

• Chief Executive Officer — Jonathan Peng Zhao

• Chief Financial Officer — Phil Yu Zhang

• Unspecified Representative — Wenbei Wang

Jonathan Peng Zhao: [Foreign Language]. Hello everyone. Thank you for joining our company's 2nd 4th 2024 net league call. [Foreign Language]. I volition commencement with our fiscal numbers. In the 2nd quarter, the institution achieved calculated currency billings of RMB1.95 billion, up 20% twelvemonth connected year. Our GAAP gross reached RMB1.92 billion, up 29% twelvemonth connected year. We recorded a nett net of RMB420 million. Meanwhile, our adjusted nett income, which excludes stock based compensation expenses, roseate to RMB720 million, up 26% twelvemonth connected year. In the 2nd quarter, the mean verified MAU connected the BOSS Zhipin app grew by 25% twelvemonth connected twelvemonth to 54.6 million. From January to June this year, the institution attracted astir 28 cardinal recently added verified users.

The full paid endeavor customers successful the 12 months ended June 30, 2024, reached 5.9 million, representing 31% year-on-year growth. [Foreign language]. Our currency bookings successful the 2nd 4th inactive person a decent year-on-year growth. However, weaker connected a 4th connected 4th ground and, and a small spot little than our expectation. This was chiefly owed to weaker request from the recruitment broadside successful the aboriginal fractional of the 2nd quarter. There were comparatively less endeavor users and much occupation seekers successful the market, which is what we notation to arsenic a precocious CB ratio.

In this case, astir endeavor users recovered it easier to prosecute for example, a task squad that took 3 months to capable each the positions successful the past present lone takes 2 months reducing endeavor users tendency to walk much wealth connected recruitment. [Foreign language]. We noticed that the maturation inclination of endeavor users is inactive good. There are 2 proofs. First, successful the 2nd quarter, the fig of recently added endeavor users was higher than that of the aforesaid play past year. Second, the mean monthly progressive idiosyncratic of endeavor users accrued by 17% twelvemonth connected year. Investors who person agelong been pursuing america cognize that idiosyncratic maturation is the halfway maturation operator for our gross growth.

We inactive person a bully maturation of endeavor users successful the 2nd quarter. This is the bully quality for the company. [Foreign language]. We judge the 2nd 4th show is simply a impermanent situation. Long-term structural maturation opportunities stay strong. Our assurance is grounded successful 3 factors. First, the Chinese marketplace is simply a immense system with the highest tiny and medium-sized endeavor activities and the largest fig of enterprises. Second, determination is simply a persistent shortage of labour supply, peculiarly among younger generations, which is improbable to alteration successful the adjacent future. Third, our businesslike work exemplary is champion suited to code the challenges presented by the archetypal 2 factors. [Foreign language].