KANZHUN LIMITED Announces Fourth Quarter and Full Year 2021 Financial Results
KANZHUN LIMITED (Nasdaq: BZ), a leading Chinese online recruitment platform, reported remarkable financial results for Q4 and full year 2021. Q4 revenues surged 69.1% year-over-year to RMB1,090.7 million (US$171.1 million), driven by robust demand for online recruitment services. Full-year revenues climbed 119.0% to RMB4,259.1 million (US$668.4 million). Despite a net loss of RMB1,071.1 million for 2021, adjusted net income reached RMB852.6 million, reflecting a significant operational improvement. The company anticipates Q1 2022 revenues between RMB1.10 billion and RMB1.12 billion, marking a year-on-year growth of 39.5% to 42.0%.
- Q4 2021 revenues increased 69.1% to RMB1,090.7 million.
- Full-year 2021 revenues grew 119.0% to RMB4,259.1 million.
- Adjusted net income for full year 2021 was RMB852.6 million, a significant improvement from prior year.
- Paid enterprise customer count rose 81.8% to 4.0 million.
- Net loss for full year 2021 was RMB1,071.1 million, compared to RMB941.9 million loss in 2020.
BEIJING, March 23, 2022 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ), a leading online recruitment platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2021.
Fourth Quarter and Full Year 2021 Highlights
- Revenues for the fourth quarter of 2021 were RMB1,090.7 million (US
$171.1 million ), an increase of69.1% from RMB645.1 million for the same quarter of 2020. Revenues for the full year of 2021 were RMB4,259.1 million (US$668.4 million ), an increase of119.0% from RMB1,944.4 million for the full year of 2020. - Calculated cash billings1 for the fourth quarter of 2021 were RMB1,169.5 million (US
$183.5 million ), an increase of24.4% from RMB940.1 million for the same quarter of 2020. Calculated cash billings for the full year of 2021 were RMB5,017.3 million (US$787.3 million ), an increase of98.3% from RMB2,529.9 million for the full year of 2020. - Average monthly active users (MAUs)2 for the fourth quarter of 2021 were 24.4 million, an increase of
14.0% from 21.4 million for the same quarter of 2020. MAUs for the full year of 2021 were 27.1 million, an increase of36.9% from 19.8 million for the full year of 2020. - Total paid enterprise customers3 in the twelve months ended December 31, 2021 increased by
81.8% to 4.0 million from 2.2 million in the twelve months ended December 31, 2020. - Net income for the fourth quarter of 2021 was RMB233.1 million (US
$36.6 million ), compared to a net loss of RMB529.5 million for the same quarter of 2020. Adjusted net income4 for the fourth quarter of 2021 was RMB348.5 million (US$54.7 million ), compared to RMB69.0 million for the same quarter last year. Net loss for the full year of 2021 was RMB1,071.1 million (US$168.1 million ), compared to RMB941.9 million for the full year of 2020. Adjusted net income for the full year of 2021 was RMB852.6 million (US$133.8 million ), compared to an adjusted net loss of RMB284.7 million for the full year of 2020.
Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, commented, “We are pleased to have delivered a strong set of results for 2021, despite a challenging business environment. In 2021, our company proved its ability to adapt and succeed in the face of adversity. This is a testament not only to the effectiveness of our business model, but also to our commitment to improving our core capabilities and maximizing our service experience for existing users. We continue to see robust user engagement within our ecosystem and have full confidence in the future of our business. In 2022, we will stay true to our strategy of investing in technology, continue to empower our users, especially the valuable employment groups and enterprises with limited resources, as we drive forward to deliver long-term value to our shareholders.”
Mr. Phil Yu Zhang, Chief Financial Officer, further commented, “We continued our quality growth in the fourth quarter. For 2021, our revenues increased by
Fourth Quarter 2021 Financial Results
Revenues
Revenues were RMB1,090.7 million (US
- Revenues from online recruitment services to enterprise customers were RMB1,082.0 million (US
$169.8 million ) for the fourth quarter of 2021, representing an increase of68.8% from RMB641.0 million for the same period in 2020. The increase was mainly due to the rapid growth in our paid enterprise customer numbers following the expansion of our user base. - Revenues from other services, which mainly comprise of paid value-added services offered to job seekers, were RMB8.7 million (US
$1.4 million ) for the fourth quarter of 2021, representing an increase of112.2% from RMB4.1 million for the same period in 2020, benefiting from our continued overall growth in user base.
Operating cost and expenses
Total operating cost and expenses were RMB841.4 million (US
- Cost of revenues was RMB149.8 million (US
$23.5 million ) for the fourth quarter of 2021, representing an increase of88.9% from RMB79.3 million for the same period of 2020, primarily driven by increased headcount, especially in security and operation personnel, as well as increases in server and bandwidth cost and third-party payment processing cost, resulting from expanded user base and increased transaction volume. - Sales and marketing expenses were RMB373.5 million (US
$58.6 million ) for the fourth quarter of 2021, representing an increase of16.4% from RMB321.0 million for the same period of 2020, primarily due to increased sales and marketing employee-related expenses, as well as increased share-based compensation expenses. - Research and development expenses were RMB198.9 million (US
$31.2 million ) for the fourth quarter of 2021, representing an increase of30.9% from RMB152.0 million for the same period of 2020, primarily due to increased headcount in research and development personnel and increased share-based compensation expenses. - General and administrative expenses were RMB119.2 million (US
$18.7 million ) for the fourth quarter of 2021, representing a decrease of80.9% from RMB625.7 million for the same period of 2020. This decrease was primarily due to one-off share-based compensation expenses of RMB533.1 million recognized in the fourth quarter of 2020, related to the issuance of Class B ordinary shares to TECHWOLF LIMITED.
Income/Loss from operations
Income from operations was RMB253.3 million (US
Net income/loss and adjusted net income
Net income was RMB233.1 million (US
Adjusted net income was RMB348.5 million (US
Net income/loss per ADS and adjusted net income/loss per ADS
Basic and diluted net income per ADS attributable to ordinary shareholders were RMB0.54 (US
Adjusted basic and diluted net income per ADS attributable to ordinary shareholders4 were RMB0.81 (US
Net cash generated from operating activities
Net cash generated from operating activities was RMB534.9 million (US
Cash position
Balance of cash and cash equivalents and short-term investments was RMB12,226.8 million (US
Full Year 2021 Financial Results
Revenues
Revenues were RMB4,259.1 million (US
- Revenues from online recruitment services to enterprise customers were RMB4,219.0 million (US
$662.1 million ) for the full year of 2021, representing an increase of118.9% from RMB1,927.2 million for the full year of 2020. The increase was mainly due to the rapid growth in our paid enterprise customer numbers following the expansion of our user base. - Revenues from other services, which mainly comprise of paid value-added services offered to job seekers, were RMB40.1 million (US
$6.3 million ) for the full year of 2021, representing an increase of133.1% from RMB17.2 million for the full year of 2020, benefiting from our continued overall growth in user base.
Operating cost and expenses
Total operating cost and expenses were RMB5,310.4 million (US
- Cost of revenues was RMB554.6 million (US
$87.0 million ) for the full year of 2021, representing an increase of130.9% from RMB240.2 million for the full year of 2020, primarily driven by increases in third-party payment processing cost, employee-related expenses with increased headcount, especially in security and operation personnel, as well as server and bandwidth cost, resulting from expanded user base and increased transaction volume. - Sales and marketing expenses were RMB1,942.7 million (US
$304.8 million ) for the full year of 2021, representing an increase of44.2% from RMB1,347.5 million for the full year of 2020, primarily due to increased sales and marketing employee-related expenses and enhanced brand advertising activities. - Research and development expenses were RMB822.0 million (US
$129.0 million ) for the full year of 2021, representing an increase of60.1% from RMB513.4 million for the full year of 2020, primarily due to increased headcount in research and development personnel as well as increased share-based compensation expenses. - General and administrative expenses were RMB1,991.1 million (US
$312.5 million ) for the full year of 2021, representing an increase of149.8% from RMB797.0 million for the full year of 2020. This increase was primarily due to one-off share-based compensation expenses of RMB1,506.4 million recognized in 2021, related to the issuance of Class B ordinary shares to TECHWOLF LIMITED, as well as increased headcount in general and administrative personnel.
Loss from operations
Loss from operations was RMB1,036.3 million (US
Net loss and adjusted net income/loss
Net loss was RMB1,071.1 million (US
Adjusted net income was RMB852.6 million (US
Net loss per ADS and adjusted net income/loss per ADS
Basic and diluted net loss per ADS attributable to ordinary shareholders were both RMB4.67 (US
Adjusted basic and diluted net income per ADS attributable to ordinary shareholders were RMB2.60 (US
Net cash generated from operating activities
Net cash generated from operating activities was RMB1,641.4 million (US
Recent Developments
Cybersecurity review
As stated in the press release announced on July 5, 2021, the Company is subject to cybersecurity review by the Cyberspace Administration of China. To facilitate the process, during the review period, the “BOSS Zhipin” app has been required to suspend new user registration in China. The process is still ongoing, and the Company is fully cooperating with the regulator in respect of its review.
Share repurchase program
In March 2022, the Company’s Board of Directors authorized a share repurchase program under which the Company may repurchase up to US
Outlook
For the first quarter of 2022, the Company currently expects its total revenues to be between RMB1.10 billion and RMB1.12 billion, representing a year-on-year increase of
_______________________
1 Calculated cash billings is a non-GAAP financial measure, derived by adding the change in deferred revenue to revenues. For more information on the non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures.”
2 MAUs refers to the number of verified user accounts, including both job seekers and enterprise users, that logged on to our mobile applications in a given month at least once.
3 Paid enterprise customers are defined as enterprise users and company accounts from which we recognize revenues for our online recruitment services.
4 Adjusted net income/(loss) and adjusted basic and diluted net income/(loss) per ADS attributable to ordinary shareholders are non-GAAP financial measures, excluding the impact of share-based compensation expenses. For more information on the non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures.”
Conference Call Information
The Company will host a conference call at 8:00 AM U.S. Eastern Time on Wednesday, March 23, 2022 (8:00 PM Beijing/Hong Kong Time on March 23, 2022) to discuss the financial results. Details for the conference call are as follows:
| Event Title: | KANZHUN LIMITED Fourth Quarter and Full Year 2021 Earnings Conference Call |
| Conference ID: | 4660935 |
| Registration Link: | http://apac.directeventreg.com/registration/event/4660935 |
Upon registration, participants will receive an email containing conference call dial-in details, a passcode, and a unique registrant ID. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.zhipin.com.
A replay of the conference call will be accessible approximately two hours after the conclusion of the live call and will be available until March 30, 2022, via the following details:
| International: | +61-2-8199-0299 |
| China (Mandarin) Toll Free: | 800-870-0206 |
| China Toll Free: | 400-632-2162 |
| United States Toll Free: | +1-855-452-5696 |
| Hong Kong Toll Free: | 800-963-117 |
| Singapore Toll Free: | 800-616-2305 |
| Conference ID: | 4660935 |
Exchange Rate
This announcement contains translations of certain RMB amounts into U.S. dollar (“US$”) amounts at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.3726 to US
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses non-GAAP measures, such as calculated cash billings, adjusted net income/(loss), adjusted net income/(loss) attributable to ordinary shareholders, adjusted basic and diluted net income/(loss) per ordinary share attributable to ordinary shareholders and adjusted basic and diluted net income/(loss) per ADS attributable to ordinary shareholders as supplemental measures to review and assess operating performance. The Company derives calculated cash billings by adding the change in deferred revenue to revenues. The Company uses calculated cash billings to measure and monitor sales growth because the Company generally bills its paid enterprise customers at the time of sales, but may recognize a portion of the related revenue ratably over time. The Company believes calculated cash billings provide valuable insights into the cash that will be generated from sales and is a valuable measure for monitoring service demand and financial performance. The Company defines adjusted net income/(loss) and adjusted net income/(loss) attributable to ordinary shareholders by excluding the impact of share-based compensation expenses, which are non-cash expenses, from the related GAAP measures. The Company believes that these non-GAAP measures help identify underlying trends in the business that could otherwise be distorted by the effect of certain expenses that are included in net income/(loss) and facilitate investors’ assessment of the Company’s operating performance.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The presentation of non-GAAP financial measures should not be considered in isolation from, or as a substitute for most directly comparable financial measures prepared in accordance with GAAP. The non-GAAP measures have material limitations as an analytical metric and may not be calculated in the same manner by all companies, and may not be comparable to other similarly titled measures used by other companies. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
A reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About KANZHUN LIMITED
KANZHUN LIMITED (Nasdaq: BZ) operates the leading online recruitment platform BOSS Zhipin in China. Established eight years ago, the Company connects job seekers and enterprise users in an efficient and seamless manner through its highly interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network effects to deliver higher recruitment efficiency and drive rapid expansion.
For investor and media inquiries, please contact:
KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com
THE PIACENTE GROUP, INC.
Email: kanzhun@tpg-ir.com
| KANZHUN LIMITED | ||||||||||||||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME | ||||||||||||||||||||||||
| (All amounts in thousands, except for share and per share data, unless otherwise noted) | ||||||||||||||||||||||||
| For the three months ended December 31, | For the year ended December 31, | |||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | |||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Revenues | ||||||||||||||||||||||||
| Online recruitment services to enterprise customers | 641,037 | 1,081,972 | 169,785 | 1,927,178 | 4,219,026 | 662,057 | ||||||||||||||||||
| Other services | 4,096 | 8,678 | 1,362 | 17,181 | 40,102 | 6,293 | ||||||||||||||||||
| Total revenues | 645,133 | 1,090,650 | 171,147 | 1,944,359 | 4,259,128 | 668,350 | ||||||||||||||||||
| Operating cost and expenses | ||||||||||||||||||||||||
| Cost of revenues(1) | (79,254 | ) | (149,785 | ) | (23,505 | ) | (240,211 | ) | (554,648 | ) | (87,036 | ) | ||||||||||||
| Sales and marketing expenses(1) | (321,019 | ) | (373,471 | ) | (58,606 | ) | (1,347,532 | ) | (1,942,670 | ) | (304,847 | ) | ||||||||||||
| Research and development expenses(1) | (151,955 | ) | (198,933 | ) | (31,217 | ) | (513,362 | ) | (821,984 | ) | (128,987 | ) | ||||||||||||
| General and administrative expenses(1) | (625,665 | ) | (119,173 | ) | (18,701 | ) | (797,008 | ) | (1,991,123 | ) | (312,451 | ) | ||||||||||||
| Total operating cost and expenses | (1,177,893 | ) | (841,362 | ) | (132,029 | ) | (2,898,113 | ) | (5,310,425 | ) | (833,321 | ) | ||||||||||||
| Other operating income, net | 1,754 | 4,029 | 632 | 8,849 | 14,977 | 2,350 | ||||||||||||||||||
| (Loss)/Income from operations | (531,006 | ) | 253,317 | 39,750 | (944,905 | ) | (1,036,320 | ) | (162,621 | ) | ||||||||||||||
| Investment income | 2,774 | 8,953 | 1,405 | 9,095 | 24,744 | 3,883 | ||||||||||||||||||
| Financial income, net | 2,132 | 2,981 | 468 | 3,098 | 9,735 | 1,528 | ||||||||||||||||||
| Foreign exchange loss | (2,852 | ) | (1,644 | ) | (258 | ) | (5,074 | ) | (1,961 | ) | (308 | ) | ||||||||||||
| Other expenses, net | (529 | ) | (1,076 | ) | (169 | ) | (4,109 | ) | (7,745 | ) | (1,215 | ) | ||||||||||||
| (Loss)/Income before income tax expense | (529,481 | ) | 262,531 | 41,196 | (941,895 | ) | (1,011,547 | ) | (158,733 | ) | ||||||||||||||
| Income tax expense | - | (29,461 | ) | (4,623 | ) | - | (59,527 | ) | (9,341 | ) | ||||||||||||||
| Net (loss)/income | (529,481 | ) | 233,070 | 36,573 | (941,895 | ) | (1,071,074 | ) | (168,074 | ) | ||||||||||||||
| Accretion on convertible redeemable preferred shares to redemption value | (90,161 | ) | - | - | (283,981 | ) | (164,065 | ) | (25,745 | ) | ||||||||||||||
| Net (loss)/income attributable to ordinary shareholders | (619,642 | ) | 233,070 | 36,573 | (1,225,876 | ) | (1,235,139 | ) | (193,819 | ) | ||||||||||||||
| Net (loss)/income | (529,481 | ) | 233,070 | 36,573 | (941,895 | ) | (1,071,074 | ) | (168,074 | ) | ||||||||||||||
| Other comprehensive loss | ||||||||||||||||||||||||
| Foreign currency translation adjustment | (96,368 | ) | (175,647 | ) | (27,563 | ) | (149,539 | ) | (127,378 | ) | (19,988 | ) | ||||||||||||
| Total comprehensive (loss)/income | (625,849 | ) | 57,423 | 9,010 | (1,091,434 | ) | (1,198,452 | ) | (188,062 | ) | ||||||||||||||
| Weighted average number of ordinary shares | ||||||||||||||||||||||||
| —Basic | 120,855,422 | 863,552,831 | 863,552,831 | 111,172,986 | 529,343,027 | 529,343,027 | ||||||||||||||||||
| —Diluted | 120,855,422 | 922,941,599 | 922,941,599 | 111,172,986 | 529,343,027 | 529,343,027 | ||||||||||||||||||
| Net (loss)/income per ordinary share attributable to ordinary shareholders | ||||||||||||||||||||||||
| —Basic | (5.13 | ) | 0.27 | 0.04 | (11.03 | ) | (2.33 | ) | (0.37 | ) | ||||||||||||||
| —Diluted | (5.13 | ) | 0.25 | 0.04 | (11.03 | ) | (2.33 | ) | (0.37 | ) | ||||||||||||||
| Net (loss)/income per ADS* attributable to ordinary shareholders | ||||||||||||||||||||||||
| —Basic | (10.25 | ) | 0.54 | 0.08 | (22.05 | ) | (4.67 | ) | (0.73 | ) | ||||||||||||||
| —Diluted | (10.25 | ) | 0.51 | 0.08 | (22.05 | ) | (4.67 | ) | (0.73 | ) | ||||||||||||||
* Each ADS represents two Class A ordinary shares.
(1) Includes share-based compensation expenses as follows:
| For the three months ended December 31, | For the year ended December 31, | |||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | |||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Cost of revenues | 981 | 6,899 | 1,083 | 1,920 | 31,467 | 4,938 | ||||||||||||||||||
| Sales and marketing expenses | 8,505 | 28,895 | 4,534 | 21,473 | 73,733 | 11,570 | ||||||||||||||||||
| Research and development expenses | 10,492 | 42,499 | 6,669 | 30,883 | 137,820 | 21,627 | ||||||||||||||||||
| General and administrative expenses | 578,511 | 37,179 | 5,834 | 602,960 | 1,680,626 | 263,727 | ||||||||||||||||||
| 598,489 | 115,472 | 18,120 | 657,236 | 1,923,646 | 301,862 | |||||||||||||||||||
| KANZHUN LIMITED | ||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
| (All amounts in thousands, except for share and per share data, unless otherwise noted) | ||||||||||||
| As of December 31, | ||||||||||||
| 2020 | 2021 | |||||||||||
| RMB | RMB | US$ | ||||||||||
| ASSETS | ||||||||||||
| Current assets | ||||||||||||
| Cash and cash equivalents | 3,998,203 | 11,341,758 | 1,779,769 | |||||||||
| Short-term investments | 536,401 | 884,996 | 138,875 | |||||||||
| Accounts receivable | 6,999 | 1,002 | 157 | |||||||||
| Amounts due from related parties | 40,799 | 6,615 | 1,038 | |||||||||
| Prepayments and other current assets | 164,910 | 724,583 | 113,703 | |||||||||
| Total current assets | 4,747,312 | 12,958,954 | 2,033,542 | |||||||||
| Non-current assets | ||||||||||||
| Property, equipment and software, net | 191,355 | 369,126 | 57,924 | |||||||||
| Intangible assets, net | 549 | 458 | 72 | |||||||||
| Right-of-use assets, net | 144,063 | 309,085 | 48,502 | |||||||||
| Other non-current assets | - | 4,000 | 628 | |||||||||
| Total non-current assets | 335,967 | 682,669 | 107,126 | |||||||||
| Total assets | 5,083,279 | 13,641,623 | 2,140,668 | |||||||||
| LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ (DEFICIT)/EQUITY | ||||||||||||
| Current liabilities | ||||||||||||
| Accounts payable | 41,856 | 52,963 | 8,311 | |||||||||
| Deferred revenue | 1,200,349 | 1,958,570 | 307,342 | |||||||||
| Other payables and accrued liabilities | 418,259 | 645,138 | 101,236 | |||||||||
| Operating lease liabilities, current | 59,559 | 127,531 | 20,012 | |||||||||
| Total current liabilities | 1,720,023 | 2,784,202 | 436,901 | |||||||||
| Non-current liabilities | ||||||||||||
| Operating lease liabilities, non-current | 76,373 | 183,365 | 28,774 | |||||||||
| Total non-current liabilities | 76,373 | 183,365 | 28,774 | |||||||||
| Total liabilities | 1,796,396 | 2,967,567 | 465,675 | |||||||||
| Mezzanine equity | 5,587,000 | - | - | |||||||||
| Shareholders’ (deficit)/equity | ||||||||||||
| Ordinary shares | 81 | 554 | 87 | |||||||||
| Treasury shares (3,657,853 and 21,097,870 shares as of December 31, 2020 and 2021, respectively) | - | - | - | |||||||||
| Additional paid-in capital | 452,234 | 14,624,386 | 2,294,886 | |||||||||
| Accumulated other comprehensive loss | (130,387 | ) | (257,765 | ) | (40,449 | ) | ||||||
| Accumulated deficit | (2,622,045 | ) | (3,693,119 | ) | (579,531 | ) | ||||||
| Total shareholders’ (deficit)/equity | (2,300,117 | ) | 10,674,056 | 1,674,993 | ||||||||
| Total liabilities, mezzanine equity and shareholders’ (deficit)/equity | 5,083,279 | 13,641,623 | 2,140,668 | |||||||||
| KANZHUN LIMITED | ||||||||||||||||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||||||||
| (All amounts in thousands, except for share and per share data, unless otherwise noted) | ||||||||||||||||||||||||
| For the three months ended December 31, | For the year ended December 31, | |||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | |||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Net cash generated from operating activities | 452,367 | 534,910 | 83,939 | 395,911 | 1,641,381 | 257,568 | ||||||||||||||||||
| Net cash (used in)/generated from investing activities | (330,265 | ) | 203,889 | 31,995 | 467,305 | (601,862 | ) | (94,445 | ) | |||||||||||||||
| Net cash generated from financing activities | 1,754,408 | 21,419 | 3,361 | 2,882,112 | 6,431,263 | 1,009,206 | ||||||||||||||||||
| Effect of exchange rate changes on cash and cash equivalents | (99,222 | ) | (174,825 | ) | (27,434 | ) | (154,480 | ) | (127,227 | ) | (19,965 | ) | ||||||||||||
| Net increase in cash and cash equivalents | 1,777,288 | 585,393 | 91,861 | 3,590,848 | 7,343,555 | 1,152,364 | ||||||||||||||||||
| Cash and cash equivalents at beginning of the period | 2,220,915 | 10,756,365 | 1,687,908 | 407,355 | 3,998,203 | 627,405 | ||||||||||||||||||
| Cash and cash equivalents at end of the period | 3,998,203 | 11,341,758 | 1,779,769 | 3,998,203 | 11,341,758 | 1,779,769 | ||||||||||||||||||
| KANZHUN LIMITED | ||||||||||||||||||||||||
| UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||||||||||||||||||||||
| (All amounts in thousands, except for share and per share data, unless otherwise noted) | ||||||||||||||||||||||||
| For the three months ended December 31, | For the year ended December 31, | |||||||||||||||||||||||
| 2020 | 2021 | 2020 | 2021 | |||||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Revenues | 645,133 | 1,090,650 | 171,147 | 1,944,359 | 4,259,128 | 668,350 | ||||||||||||||||||
| Add: Change in deferred revenue | 294,941 | 78,851 | 12,373 | 585,529 | 758,221 | 118,981 | ||||||||||||||||||
| Calculated cash billings | 940,074 | 1,169,501 | 183,520 | 2,529,888 | 5,017,349 | 787,331 | ||||||||||||||||||
| Net (loss)/income | (529,481 | ) | 233,070 | 36,573 | (941,895 | ) | (1,071,074 | ) | (168,074 | ) | ||||||||||||||
| Add: Share-based compensation expenses | 598,489 | 115,472 | 18,120 | 657,236 | 1,923,646 | 301,862 | ||||||||||||||||||
| Adjusted net income/(loss) | 69,008 | 348,542 | 54,693 | (284,659 | ) | 852,572 | 133,788 | |||||||||||||||||
| Net (loss)/income attributable to ordinary shareholders | (619,642 | ) | 233,070 | 36,573 | (1,225,876 | ) | (1,235,139 | ) | (193,819 | ) | ||||||||||||||
| Add: Share-based compensation expenses | 598,489 | 115,472 | 18,120 | 657,236 | 1,923,646 | 301,862 | ||||||||||||||||||
| Adjusted net (loss)/income attributable to ordinary shareholders | (21,153 | ) | 348,542 | 54,693 | (568,640 | ) | 688,507 | 108,043 | ||||||||||||||||
| Weighted average number of ordinary shares (Non-GAAP) | ||||||||||||||||||||||||
| —Basic | 120,855,422 | 863,552,831 | 863,552,831 | 111,172,986 | 529,343,027 | 529,343,027 | ||||||||||||||||||
| —Diluted | 120,855,422 | 922,941,599 | 922,941,599 | 111,172,986 | 859,160,014 | 859,160,014 | ||||||||||||||||||
| Adjusted net (loss)/income per ordinary share attributable to ordinary shareholders | ||||||||||||||||||||||||
| —Basic | (0.18 | ) | 0.40 | 0.06 | (5.11 | ) | 1.30 | 0.20 | ||||||||||||||||
| —Diluted | (0.18 | ) | 0.38 | 0.06 | (5.11 | ) | 0.80 | 0.13 | ||||||||||||||||
| Adjusted net (loss)/income per ADS attributable to ordinary shareholders | ||||||||||||||||||||||||
| —Basic | (0.35 | ) | 0.81 | 0.13 | (10.23 | ) | 2.60 | 0.41 | ||||||||||||||||
| —Diluted | (0.35 | ) | 0.76 | 0.12 | (10.23 | ) | 1.60 | 0.25 | ||||||||||||||||
FAQ
What were KANZHUN LIMITED's Q4 2021 revenue figures?
What is KANZHUN LIMITED's outlook for Q1 2022?
How much did KANZHUN LIMITED's adjusted net income improve in 2021?
What was the total number of paid enterprise customers for KANZHUN LIMITED in 2021?
What was the net loss of KANZHUN LIMITED for the full year 2021?
