The following is a summary of the Kanzhun Limited (BZ) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Kanzhun Limited's Q1 2024 cash billings were RMB2.05 billion, marking a 24% year-on-year and 16% quarter-on-quarter growth.

• GAAP revenue achieved a growth rate of 33% year-on-year and 8% quarter-on-quarter at RMB1.7 billion.

• An adjusted net income of RMB530 million was reported, up by 117% year-on-year.

• The company also estimates an improvement within the gross margin, decrease in G&A expenses, and a stable R&D expenses margin in the upcoming quarter.

Business Progress:

• Kanzhun Limited witnessed an increase in the average verified Monthly Active Users on the BOSS Zhipin app by 17%.

• Growth strategy includes a focus on blue-collar user growth, lower-tier cities expansion, and strategic marketing with events like the Paris Olympics serving as flagship initiatives.

• The company acquired WD Technology, a leading manufacturing talent delivery platform in China, to leverage its core abilities and enhance the user base.

• Investing in AI technology emerged as a high-priority strategy, designed to bolster service excellence for job seekers and recruiters.

More details: Kanzhun IR

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