Guidance for Q2 (+13-15% YoY revenue growth) is a clear acceleration from Q1's +7.6%, signaling strengthening recruitment demand and monetization. Combined with the new ~50% adjusted net income shareholder return policy and active buybacks, this reinforces positive momentum. Watch the fine print on whether the IPO-related investment gain recurs — stripping that out, adjusted net income grew a solid +12.1% YoY. Monitor any macro headwinds in China that could affect the H2 trajectory.
Price Chart
Executive Summary
BZ reported Q1 2026 (March quarter) revenue of RMB 2.07B ($300M), +7.6% YoY, and GAAP EPS of RMB 2.49/ADS ($0.36), well above the RMB 1.19/ADS YoY. Adjusted net income was RMB 856M (+12.1% YoY). Q2 2026 guidance of RMB 2.38-2.42B revenue (+13-15% YoY) signals accelerating momentum. An investee IPO contributed RMB 614M non-operating gain; share buybacks totaled ~RMB 1.4B YTD (3% of shares).
Key Financial Metrics
Key Facts
- Q1 2026 revenue RMB 2,068.8M ($299.9M), +7.6% YoY from RMB 1,923.3M
- GAAP net income RMB 1,125.8M ($163.2M), +119.8% YoY from RMB 512.1M
- Q2 2026 revenue guidance RMB 2.38-2.42B, +13.2% to 15.1% YoY — above the Q1 growth rate
- Adjusted (non-GAAP) net income RMB 856.2M ($124.1M), +12.1% YoY
- Income from operations RMB 623.6M, +41.8% YoY; adjusted operating income RMB 814.6M, +17.8% YoY
- Total paid enterprise customers (TTM) 7.1M, +10.9% YoY; MAU in Q1 60.9M, +5.7% YoY (March MAU exceeded 72M)
- Share buybacks YTD 2026: ~RMB 1.4B for 28M+ ordinary shares (~3% of outstanding)
- Cash & equivalents, short-term deposits and investments: RMB 19,826.5M ($2,874.2M) as of March 31, 2026
- New shareholder return policy: at least 50% of adjusted net income allocated for dividends + buybacks over next 3 years
- Investment income of RMB 614.1M from IPO of investee company (non-operating, one-time)
- GAAP basic EPS per ADS RMB 2.49 vs RMB 1.19 YoY; adjusted basic EPS per ADS RMB 1.91 vs RMB 1.77 YoY
Financial Impact
Q1 revenue +7.6% YoY, accelerating to +13-15% YoY guided for Q2; GAAP net income nearly doubled YoY; operating income +41.8%; adjusted net income +12.1%. Strong operating leverage — total costs -3.0% YoY while revenue grew.
Risk Factors
- China macro/regulatory risk — online recruitment demand is cyclical with hiring sentiment
- Q1 adjusted net income growth (+12.1%) lagged the operating income growth (+41.8%) indicating tax drag and NCI impact
- Investment gain of RMB 614M from IPO of investee is non-recurring — core operating earnings improvement is the driver to watch
- Share count dilution from ongoing buybacks is positive but limited in size (~3% YTD)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3298353 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 6-K | $16.66 | awaiting T+60 | — | $16.65 (−0.06%) |
Oct 21, 2026 6d ago | Institutional Cluster | $16.41 | awaiting T+60 | — | $16.65 (+1.46%) |
Oct 7, 2026 20d ago | 6-K | $15.18 | awaiting T+60 | — | $16.65 (+9.68%) |
Oct 2, 2026 25d ago | 6-K | $14.83 | awaiting T+60 | — | $16.65 (+12.27%) |
Sep 22, 2026 5w ago | Press Release | $14.28 | awaiting T+60 | — | $16.65 (+16.56%) |
Sep 21, 2026 5w ago | Press Release | $14.82 | awaiting T+60 | — | $16.65 (+12.35%) |
Sep 18, 2026 5w ago | Insider Cluster | $14.44 | awaiting T+60 | — | $16.65 (−15.30%) |
Sep 18, 2026 5w ago | Insider Cluster | $13.92 | awaiting T+60 | — | $16.65 (−19.63%) |
Sep 14, 2026 6w ago | Insider Cluster | $14.49 | awaiting T+60 | — | $16.65 (+14.89%) |
Sep 11, 2026 6w ago | 6-K | $15.45 | awaiting T+60 | — | $16.65 (+7.77%) |
US Market Status
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