Kanzhun (BZ) investor relations material

Executive summary

• Revenue for Q2 2026 reached RMB 2,398.6 million, up 14.1% year-on-year, with adjusted operating income of RMB 1,049.7 million, up 19.2% year-on-year.

• Achieved record operational metrics with 70.2 million average monthly active users and 7.2 million paid enterprise customers, both up over 10% year-on-year.

• Growth strategy differentiates between lower-tier cities (user growth focus) and higher-tier cities (user growth plus price increases).

• AI-powered features and closed-loop hiring services are driving efficiency, monetization, and user experience, with positive commercialization results.

• Shareholder returns in 2026 exceeded $530 million through dividends and share repurchases, surpassing prior commitments.

Financial highlights

• Adjusted operating margin reached 43.8%, up 1.9 percentage points year-on-year.

• Gross margin increased by 1.6 percentage points to 87%.

• Net income was RMB 1.9 billion, up 173.1% year-on-year; adjusted net income rose 9.4% to RMB 1,029.2 million.

• ARPU increased 7% year-on-year, driven by AI-powered services.

• Net cash from operating activities was RMB 944.8 million, down 10.2% year-on-year due to higher marketing and tax payments.

Outlook and guidance

• Q3 2026 revenue expected between RMB 2.41 billion and RMB 2.5 billion, up 11.4%-15.6% year-on-year.

• Adjusted operating margin for full year 2026 expected to slightly increase.