BEIJING, Aug. 27, 2021 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (BOSS Zhipin), a leading online recruitment platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Highlights

•  Total revenues for the quarter were RMB1,168.2 million (US$180.9 million), an increase of 173.9% from RMB426.5 million for the same quarter of 2020.

• Calculated cash billings were RMB1,444.5 million (US$223.7 million), an increase of 175.3% from RMB524.7 million for the same quarter of 2020.

• Average monthly active users (MAUs) for the quarter were 30.4 million, an increase of 44.8% from 21.0 million for the same quarter of 2020.

• Total paid enterprise customers in the twelve months ended June 30, 2021 increased by 135.9% to 3.61 million, from 1.53 million in the twelve months ended June 30, 2020.

•  Net loss for the quarter was RMB1,414.1 million (US$219.0 million), compared to RMB167.4 million for the same quarter of 2020 and RMB176.2 million for the first quarter of 2021. The increase of net loss was mainly due to one-time share-based compensation expenses recorded in the quarter. Adjusted net income for the quarter turned positive to RMB246.5 million (US$38.2 million), compared to adjusted net loss of RMB143.4 million for the same quarter last year and adjusted net loss of RMB127.5 million for the first quarter of 2021.

We are pleased to report strong results for our first quarter as a public company, with robust and quality growth demonstrating our effective 'direct-recruitment' model. The successful completion of initial public offering in June is just the start of a long journey, and we treasure this opportunity to shoulder greater responsibility of delivering equal and efficient services to more job seekers and enterprise users. With user satisfaction and platform security as our top priorities, we strive to fulfill our mission of improving the efficiency of connecting talents and jobs through the power of technology."

-Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, commented.

Our total revenues increased by 173.9% year on year in this quarter to RMB1,168.2 million. We remain focusing on our users and revenue growth while also improving the operating efficiency through greater leverage and effective marketing initiatives. With our strong cash flow, we are committed to making further investment in R&D, and continuing to increase brand recognition and user coverage for our long-term sustainable growth."

-Mr. Phil Yu Zhang, Chief Financial Officer, further commented.

Recent Development

On June 11, 2021, the Company completed its initial public offering, through which the Company sold a total of 48,000,000 ADSs, with each ADS representing two Class A ordinary shares, at a price of US$19.00 per ADS. On June 15, 2021, the underwriters exercised their over-allotment option to purchase an additional 7,200,000 ADSs, at a price of US$19.00 per ADS. Upon the closing of the over-allotment transaction, the Company had a total of 677,127,602 Class A ordinary shares and 140,830,041 Class B ordinary shares issued and outstanding.

Outlook

For the third quarter of 2021, the Company currently expects its total revenues to be between RMB1.18 billion and RMB1.21 billion, representing a year-on-year increase of 100.0% to 105.1%. This forecast reflects the Company's current views on the market, operational conditions and the impact of the ongoing cybersecurity review, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.

Conference Call Information

The Company will host a conference call at 8:00 AM U.S. Eastern Time on Friday, August 27, 2021 (8:00 PM Beijing/Hong Kong Time on Friday, August 27, 2021) to discuss the financial results. Details for the conference call are as follows:

Event Title: Conference Call

Conference ID: 6665641
Registration Link: http://apac.directeventreg.com/registration /event/6665641

Upon registration, participants will receive an email containing conference call dial-in details, a passcode, and a unique registrant ID. 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 Company's investor relations website at https://ir.zhipin.com.

A replay of the conference call will be accessible approximately two hours after the conclusion of the live call and will be available until September 3, 2021, via the following details:

International: +61-2-8199-0299
China (Mandarin) Toll Free: 800-870-0206
China Toll Free: 400-632-2162
United States Toll Free: +1-855-452-5696
Hong Kong Toll Free: 800-963-117
Singapore Toll Free: 800-616-2305
Conference ID: 6665641

About KANZHUN LIMITED

KANZHUN LIMITED (Nasdaq: BZ) operates the largest online recruitment platform BOSS Zhipin in China in terms of average MAU in 2020. Established seven years ago, 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 the 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 more information, please visit https://ir.zhipin.com.

For investor and media inquiries, please contact:

Investor Relations

Email: ir@kanzhun.com

THE PIACENTE GROUP, INC.

Email: kanzhun@tpg-ir.com

KANZHUN LIMITED