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KANZHUN LIMITED Announces Third Quarter 2024 Financial Results

GlobeNewswire LogoGlobeNewswire2w ago

KANZHUN LIMITED Announces Third Quarter 2024 Financial Results - GlobeNewswire

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KANZHUN LIMITEDUnaudited Condensed Consolidated Balance Sheets(All amounts in thousands)   As of  December 31, 2023 September 30, 2024  RMB RMB US$ASSETS      Current assets      Cash and cash equivalents 2,472,959 2,816,158 401,299Short-term time deposits 6,922,803 5,757,701 820,466Short-term investments 3,513,885 6,025,604 858,642Accounts receivable, net 16,727 29,124 4,150Inventories -   2,865 408Amounts due from related parties 3,966 9,061 1,291Prepayments and other current assets 442,697 506,602 72,190Total current assets  13,373,037  15,147,115 2,158,446Non-current assets      Property, equipment and software, net 1,793,488 1,804,596 257,153Intangible assets, net 8,093 261,677 37,289Goodwill 5,690 6,528 930Right-of-use assets, net 282,612 357,728 50,976Long-term investments 2,473,128 1,235,774 176,096Other non-current assets 4,000 - -Total non-current assets  4,567,011   3,666,303 522,444Total assets  17,940,048   18,813,418 2,680,890LIABILITIES AND SHAREHOLDERS’ EQUITY      Current liabilities      Accounts payable 629,216 81,438 11,605Deferred revenue 2,794,075 3,071,565 437,695Other payables and accrued liabilities 779,046 644,624 91,858Operating lease liabilities, current 155,014 192,097 27,374Total current liabilities  4,357,351  3,989,724 568,532Non-current liabilities      Operating lease liabilities, non-current 125,079 166,451 23,719Deferred tax liabilities 28,425 23,490 3,347Total non-current liabilities  153,504  189,941 27,066Total liabilities  4,510,855  4,179,665 595,598Total shareholders’ equity  13,429,193  14,633,753 2,085,292Total liabilities and shareholders’ equity  17,940,048  18,813,418  2,680,890        KANZHUN LIMITEDUnaudited Condensed Consolidated Statements of Cash Flows(All amounts in thousands)   For the three months endedSeptember 30, For the nine months endedSeptember 30,  2023  2024  2023  2024   RMB RMB US$ RMB RMB US$Net cash provided by operating activities 812,554  812,290  115,750  2,120,172  2,586,387  368,557 Net cash used in investing activities (1,058,781) (698,000) (99,464) (9,449,149) (1,293,771) (184,361)Net cash (used in)/provided by financing activities (43,826) (753,763) (107,410) 25,129  (940,188) (133,976)Effect of exchange rate changes on cash and cash equivalents (6,096) (16,759) (2,389) (3,356) (9,229) (1,315)Net (decrease)/increase in cash and cash equivalents  (296,149)  (656,232)  (93,513)  (7,307,204)  343,199    48,905  Cash and cash equivalents at beginning of the period 2,740,769  3,472,390  494,812  9,751,824  2,472,959  352,394 Cash and cash equivalents at end of the period  2,444,620    2,816,158    401,299    2,444,620    2,816,158    401,299                      KANZHUN LIMITEDUnaudited Reconciliation of GAAP and Non-GAAP Results (All amounts in thousands, except share and per share data)   For the three months ended September 30, For the nine months ended September 30,  2023 2024 2023 2024  RMB RMB US$ RMB RMB US$Income from operations 260,987 330,183 47,051 358,719 792,385 112,914Add: Share-based compensation expenses 288,368 275,067 39,196 759,561 865,487 123,330Adjusted income from operations 549,355 605,250 86,247 1,118,280 1,657,872 236,244             Net income 425,717 463,827 66,095 767,977 1,122,801 159,998Add: Share-based compensation expenses 288,368 275,067 39,196 759,561 865,487 123,330Adjusted net income  714,085   738,894  105,291  1,527,538  1,988,288  283,328              Net income attributable to ordinary shareholders of KANZHUN LIMITED 425,717 468,372 66,743 767,977 1,135,056 161,744Add: Share-based compensation expenses 288,368 275,067 39,196 759,561 865,487 123,330Adjusted net income attributable to ordinary shareholders of KANZHUN LIMITED  714,085  743,439  105,939  1,527,538   2,000,543  285,074 Weighted average number of ordinary shares used in computing adjusted net income per share (Non-GAAP)            — Basic 870,358,529 883,762,119 883,762,119 868,329,404 884,476,469 884,476,469— Diluted 899,718,677 906,841,729 906,841,729 902,411,551 912,733,094 912,733,094Adjusted net income per ordinary share attributable to ordinary shareholders            — Basic 0.82 0.84 0.12 1.76 2.26 0.32— Diluted 0.79 0.82 0.12 1.69 2.19 0.31Adjusted net income per ADS attributable to ordinary shareholders            — Basic 1.64 1.68 0.24 3.52 4.52 0.64— Diluted 1.59 1.64 0.23 3.39 4.38 0.

Income from operations and adjusted income from operations Income from operations was RMB330.2 million (US$47.1 million) for the third quarter of 2024, representing an increase of 26.5% from RMB261.0 million for the same quarter of 2023.

Adjusted income from operations was RMB605.3 million (US$86.2 million) for the third quarter of 2024, representing an increase of 10.2% from RMB549.4 million for the same quarter of 2023.

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Author / Journalist: Kanzhun Limited

Category: Technology

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Published On: 2024-12-11 @ 10:55:00 (2 weeks ago)

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