Kanzhun Ltd ADR (BZ) financial statements
Kanzhun Ltd ADR reported revenue of 8.3B CNY in fiscal 2025, up 42.2% a year over 6 years.
Net income was 2.7B CNY and the operating margin 29.8%, against -51.3% in 2019.
Free cash flow was 4.4B CNY, and the company returned 553M CNY in dividends and 143M CNY in net buybacks.
The diluted share count rose 765% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions (CNY).
Income statement
Fiscal years, in CNY, from Kanzhun Ltd ADR's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 999M CNY | 1.9B CNY | 4.3B CNY | 4.5B CNY | 6.0B CNY | 7.4B CNY | 8.3B CNY |
| Cost of revenue | 138M CNY | 240M CNY | 555M CNY | 755M CNY | 1.1B CNY | 1.2B CNY | 1.2B CNY |
| Gross profit | 861M CNY | 1.7B CNY | 3.7B CNY | 3.8B CNY | 4.9B CNY | 6.1B CNY | 7.0B CNY |
| Research and development | 326M CNY | 513M CNY | 822M CNY | 1.2B CNY | 1.5B CNY | 1.8B CNY | 1.7B CNY |
| Selling, general and admin | 1.0B CNY | 2.1B CNY | 3.9B CNY | 2.7B CNY | 2.8B CNY | 3.2B CNY | 2.9B CNY |
| Operating income | -512M CNY | -945M CNY | -1.0B CNY | -130M CNY | 581M CNY | 1.2B CNY | 2.5B CNY |
| Pre-tax income | -502M CNY | -942M CNY | -1.0B CNY | 117M CNY | 1.2B CNY | 1.8B CNY | 3.2B CNY |
| Income tax | — | — | 60M CNY | 10M CNY | 123M CNY | 266M CNY | 510M CNY |
| Net income | -502M CNY | -942M CNY | -1.1B CNY | 107M CNY | 1.1B CNY | 1.6B CNY | 2.7B CNY |
| EPS (diluted) | -6.86 CNY | -11.03 CNY | -2.33 CNY | 0.12 CNY | 1.22 CNY | 1.74 CNY | 2.95 CNY |
| Diluted shares | 107M | 111M | 529M | 912M | 903M | 909M | 927M |
| Gross margin | 86.2% | 87.6% | 87.0% | 83.3% | 82.2% | 83.1% | 85.1% |
| Operating margin | -51.3% | -48.6% | -24.3% | -2.9% | 9.8% | 15.9% | 29.8% |
| Net margin | -50.3% | -48.4% | -25.1% | 2.4% | 18.5% | 21.5% | 33.1% |
Balance sheet
Fiscal years, in CNY, from Kanzhun Ltd ADR's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | 407M CNY | 4.5B CNY | 12.2B CNY | 12.4B CNY | 6.0B CNY | 9.2B CNY | 13.6B CNY |
| Receivables | — | 7M CNY | 1M CNY | 10M CNY | 17M CNY | 41M CNY | 33M CNY |
| Inventory | — | — | — | — | — | 3M CNY | 2M CNY |
| Total current assets | — | 4.7B CNY | 13.0B CNY | 13.8B CNY | 13.4B CNY | 15.1B CNY | 20.4B CNY |
| Property, plant and equipment | — | 191M CNY | 369M CNY | 691M CNY | 1.8B CNY | 1.7B CNY | 1.2B CNY |
| Goodwill | — | — | — | 6M CNY | 6M CNY | 7M CNY | 7M CNY |
| Total assets | — | 5.1B CNY | 13.6B CNY | 14.8B CNY | 17.9B CNY | 19.3B CNY | 24.6B CNY |
| Total current liabilities | — | 1.7B CNY | 2.8B CNY | 3.0B CNY | 4.4B CNY | 4.2B CNY | 4.4B CNY |
| Total liabilities | — | 1.8B CNY | 3.0B CNY | 3.2B CNY | 4.5B CNY | 4.3B CNY | 4.5B CNY |
| Shareholders' equity | -1.7B CNY | -2.3B CNY | 10.7B CNY | 11.6B CNY | 13.4B CNY | 14.9B CNY | 20.0B CNY |
| Net debt | -407M CNY | -4.0B CNY | -11.3B CNY | -9.8B CNY | -2.5B CNY | -2.6B CNY | -4.1B CNY |
Cash flow
Fiscal years, in CNY, from Kanzhun Ltd ADR's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -106M CNY | 396M CNY | 1.6B CNY | 1.0B CNY | 3.0B CNY | 3.5B CNY | 4.6B CNY |
| Capital spending | 64M CNY | 138M CNY | 260M CNY | 340M CNY | 956M CNY | 856M CNY | 119M CNY |
| Free cash flow | -170M CNY | 258M CNY | 1.4B CNY | 663M CNY | 2.1B CNY | 2.7B CNY | 4.4B CNY |
| Stock-based compensation | 34M CNY | 124M CNY | 417M CNY | 692M CNY | 1.1B CNY | 1.1B CNY | 912M CNY |
| Dividends paid | — | — | — | — | 563M CNY | — | 553M CNY |
| Share buybacks (net) | 0 CNY | 0 CNY | -12M CNY | -919M CNY | -72M CNY | -1.7B CNY | -143M CNY |
| Net borrowing | 0 CNY | 0 CNY | 0 CNY | — | — | — | — |
| Free cash flow margin | -17.0% | 13.3% | 32.4% | 14.7% | 35.1% | 36.5% | 53.6% |
| Dividends per share | — | — | — | — | 0.62 CNY | — | 0.60 CNY |
Questions
What was Kanzhun Ltd ADR's revenue in 2025?
8.3B CNY in fiscal 2025, from its 10-K filing.
How much free cash flow does Kanzhun Ltd ADR generate?
4.4B CNY in fiscal 2025 (operating cash flow minus capital spending).
From Kanzhun Ltd ADR's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.