The Q2 revenue guidance midpoint of RMB 2.40B (+14.2% YoY) represents a meaningful acceleration from Q1's 7.6% growth, signaling improving recruitment demand and monetization. Combined with aggressive buyback execution (~3% of shares YTD), this supports a positive near-term outlook. Monitor the earnings call for color on AI monetization and macro demand trends in China.
Price Chart
Executive Summary
Kanzhun Ltd (BZ) reported Q1 2026 results with revenue of RMB 2,068.8M (+7.6% YoY) and adjusted net income of RMB 856.2M (+12.1% YoY), driven by paid enterprise customer growth (+10.9% to 7.1M) and operating leverage. The company guided Q2 2026 revenue of RMB 2.38B-2.42B (+13.2%-15.1% YoY), accelerating from Q1's 7.6% growth, and disclosed ongoing aggressive share repurchases (~RMB 1.4B YTD, ~3% of shares outstanding). The prior 20-F annual report (bullish, impact 6) provides context of strong FY2025 momentum.
Key Facts
- Q1 2026 revenue RMB 2,068.8M (+7.6% YoY), in line with guided range
- Adjusted net income RMB 856.2M (+12.1% YoY); adjusted operating income RMB 814.6M (+17.8% YoY)
- Q2 2026 revenue guidance RMB 2.38B-2.42B (+13.2%-15.1% YoY), accelerating from Q1
- Paid enterprise customers reached 7.1M in TTM (+10.9% YoY); MAU 60.9M (+5.7% YoY)
- YTD 2026 share repurchases of ~RMB 1.4B (~3% of shares outstanding); $400M buyback program extended through Aug 2027
- Cash and short-term investments of RMB 19.8B as of March 31, 2026
- Operating cash flow RMB 1,190.1M (+18.6% YoY)
- GAAP net income boosted by RMB 614.1M investment gain from investee IPO; adjusted net income strips this out
Financial Impact
Revenue growth of 7.6% YoY to RMB 2,068.8M; adjusted net income +12.1% to RMB 856.2M; Q2 guidance implies 13.2%-15.1% YoY revenue acceleration
Risk Factors
- China macro uncertainty could slow recruitment demand recovery
- Q1 revenue growth of 7.6% was modest; acceleration to 13-15% in Q2 needs execution
- Investment income volatility from IPO gains is non-recurring
- Regulatory risks in China's internet/platform economy sector
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-064167 |
| Document: tm2614941d2_ex99-2.htm | 0001104659-26-064167 |
| Document: tm2614941d2_6k.htm | 0001104659-26-064167 |
| Document: 0001104659-26-064167-index-headers.html | 0001104659-26-064167 |
| Document: 0001104659-26-064167-index.html | 0001104659-26-064167 |
| Document: 0001104659-26-064167.txt | 0001104659-26-064167 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 6-K | $16.46 | awaiting T+60 | — | $16.65 (+1.12%) |
Oct 21, 2026 5d ago | Institutional Cluster | $16.41 | awaiting T+60 | — | $16.65 (+1.43%) |
Oct 7, 2026 19d ago | 6-K | $15.18 | awaiting T+60 | — | $16.65 (+9.65%) |
Oct 2, 2026 25d ago | 6-K | $14.83 | awaiting T+60 | — | $16.65 (+12.24%) |
Sep 22, 2026 5w ago | Press Release | $14.28 | awaiting T+60 | — | $16.65 (+16.53%) |
Sep 21, 2026 5w ago | Press Release | $14.82 | awaiting T+60 | — | $16.65 (+12.31%) |
Sep 18, 2026 5w ago | Insider Cluster | $14.44 | awaiting T+60 | — | $16.65 (−15.27%) |
Sep 18, 2026 5w ago | Insider Cluster | $13.92 | awaiting T+60 | — | $16.65 (−19.59%) |
Sep 14, 2026 6w ago | Insider Cluster | $14.49 | awaiting T+60 | — | $16.65 (+14.86%) |
Sep 11, 2026 6w ago | 6-K | $15.45 | awaiting T+60 | — | $16.65 (+7.73%) |
US Market Status
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