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KANZHUN LIMITED Upsizes Total Share Repurchase Program to US$350 Million With a New Program

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KANZHUN , known as BOSS Zhipin (Nasdaq: BZ; HKEX: 2076), has expanded its share repurchase program to US$350 million. This includes a new 12-month program authorizing an additional US$150 million repurchase, alongside the existing US$200 million program initiated in March 2024. The total amount represents 7.2% of the company's current market value, positioning it among the highest in the industry.

BOSS Zhipin, China's largest online recruitment platform, reported strong Q2 2024 results with total revenue of RMB1,917 million (28.8% YoY increase) and adjusted income from operations of RMB660 million (52.1% YoY increase). The company's average monthly active users grew 25.2% YoY to 54.6 million, while paid enterprise customers increased by 31.1% YoY. As of early August 2024, the company had already repurchased shares worth US$88 million since March 27, 2024.

KANZHUN, conosciuta come BOSS Zhipin (Nasdaq: BZ; HKEX: 2076), ha espanso il suo programma di riacquisto di azioni a 350 milioni di dollari USA. Questo include un nuovo programma di 12 mesi che autorizza un ulteriore riacquisto di 150 milioni di dollari USA, insieme al programma esistente di 200 milioni di dollari USA avviato a marzo 2024. L'importo totale rappresenta il 7,2% del valore di mercato attuale della società, posizionandola tra le più alte dell'industria.

BOSS Zhipin, la più grande piattaforma di reclutamento online in Cina, ha riportato risultati forti nel secondo trimestre 2024 con un fatturato totale di 1.917 milioni di RMB (aumento del 28,8% su base annua) e un reddito operativo rettificato di 660 milioni di RMB (aumento del 52,1% su base annua). Il numero medio di utenti attivi mensili è cresciuto del 25,2% su base annua, raggiungendo 54,6 milioni, mentre i clienti aziendali paganti sono aumentati del 31,1% su base annua. A inizio agosto 2024, la società aveva già riacquistato azioni per un valore di 88 milioni di dollari USA dal 27 marzo 2024.

KANZHUN, conocido como BOSS Zhipin (Nasdaq: BZ; HKEX: 2076), ha expandido su programa de recompra de acciones a 350 millones de dólares estadounidenses. Esto incluye un nuevo programa de 12 meses que autoriza una recompra adicional de 150 millones de dólares estadounidenses, junto con el programa existente de 200 millones de dólares estadounidenses que se inició en marzo de 2024. La cantidad total representa el 7,2% del valor de mercado actual de la empresa, posicionándola entre las más altas de la industria.

BOSS Zhipin, la plataforma de reclutamiento en línea más grande de China, informó resultados sólidos en el segundo trimestre de 2024 con ingresos totales de 1,917 millones de RMB (un aumento del 28,8% interanual) y ingresos operativos ajustados de 660 millones de RMB (un aumento del 52,1% interanual). El número promedio de usuarios activos mensuales creció un 25,2% interanual, alcanzando los 54,6 millones, mientras que los clientes empresariales de pago aumentaron un 31,1% interanual. A principios de agosto de 2024, la empresa ya había recomprado acciones por un valor de 88 millones de dólares estadounidenses desde el 27 de marzo de 2024.

KANZHUN은 BOSS Zhipin(나스닥: BZ; 홍콩 증권거래소: 2076)으로 알려져 있으며, 자사주 매입 프로그램을 3억 5천만 달러로 확대했습니다. 여기에는 추가적인 1억 5천만 달러의 매입을 승인하는 12개월 새로운 프로그램이 포함되어 있으며, 2024년 3월에 시작된 기존의 2억 달러 프로그램과 함께 진행됩니다. 총 금액은 회사의 현재 시장 가치의 7.2%에 해당합니다, 이는 업계에서 가장 높은 수준에 해당합니다.

BOSS Zhipin은 중국 최대의 온라인 채용 플랫폼으로, 2024년 2분기에는 총 수익이 19억 1천 7백만 위안(전년 동기 대비 28.8% 증가)조정된 운영 수익이 6억 6천만 위안(전년 동기 대비 52.1% 증가)을 보고했습니다. 평균 월간 활성 사용자 수가 전년 대비 25.2% 증가하여 5460만 명에 도달했습니다, 그리고 유료 기업 고객 수는 전년 대비 31.1% 증가했습니다. 2024년 8월 초 현재, 회사는 2024년 3월 27일 이후로 이미 8,800만 달러 규모의 주식을 재매입했습니다.

KANZHUN, connu sous le nom de BOSS Zhipin (Nasdaq: BZ; HKEX: 2076), a élargi son programme de rachat d'actions à 350 millions de dollars américains. Cela inclut un nouveau programme de 12 mois autorisant un rachat supplémentaire de 150 millions de dollars américains, en plus du programme existant de 200 millions de dollars américains lancé en mars 2024. Le montant total représente 7,2% de la valeur marchande actuelle de l'entreprise, la plaçant parmi les plus élevées de l'industrie.

BOSS Zhipin, la plus grande plateforme de recrutement en ligne en Chine, a annoncé de solides résultats pour le deuxième trimestre 2024 avec un chiffre d'affaires total de 1,917 millions de RMB (augmentation de 28,8% par rapport à l'année précédente) et un revenu ajusté d'exploitation de 660 millions de RMB (augmentation de 52,1% par rapport à l'année précédente). Le nombre moyen d'utilisateurs actifs mensuels a augmenté de 25,2% d'une année sur l'autre pour atteindre 54,6 millions, tandis que le nombre de clients d'entreprise payants a augmenté de 31,1% d'une année sur l'autre. Au début d'août 2024, l'entreprise avait déjà racheté des actions pour une valeur de 88 millions de dollars américains depuis le 27 mars 2024.

KANZHUN, bekannt als BOSS Zhipin (Nasdaq: BZ; HKEX: 2076), hat sein Aktienrückkaufprogramm auf 350 Millionen US-Dollar ausgeweitet. Dies umfasst ein neues 12-monatiges Programm, das einen zusätzlichen Rückkauf von 150 Millionen US-Dollar autorisiert, zusätzlich zum bestehenden Programm in Höhe von 200 Millionen US-Dollar, das im März 2024 initiiert wurde. Der Gesamtbetrag entspricht 7,2% des aktuellen Marktwerts des Unternehmens, was es zu einem der höchsten der Branche macht.

BOSS Zhipin, die größte Online-Rekrutierungsplattform Chinas, berichtete von starken Ergebnissen im zweiten Quartal 2024 mit einem Gesamtumsatz von 1.917 Millionen RMB (28,8% Anstieg im Jahresvergleich) und einem bereinigten Betriebsgewinn von 660 Millionen RMB (52,1% Anstieg im Jahresvergleich). Die durchschnittliche Anzahl der monatlich aktiven Nutzer wuchs im Jahresvergleich um 25,2% auf 54,6 Millionen, während die zahlenden Unternehmenskunden im Jahresvergleich um 31,1% zunahmen. Anfang August 2024 hatte das Unternehmen bereits Aktien im Wert von 88 Millionen US-Dollar seit dem 27. März 2024 zurückgekauft.

Positive
  • Expanded share repurchase program to US$350 million, representing 7.2% of current market value
  • Q2 2024 revenue increased 28.8% YoY to RMB1,917 million
  • Adjusted income from operations grew 52.1% YoY to RMB660 million in Q2 2024
  • Average monthly active users increased 25.2% YoY to 54.6 million in Q2 2024
  • Total paid enterprise customers rose by 31.1% YoY in the 12 months ended June 30, 2024
  • Adjusted operating margin reached a historical high, increasing by 5 percentage points YoY
Negative
  • None.

Insights

The upsizing of KANZHUN's share repurchase program to US$350 million is a significant move, representing 7.2% of the company's current market value. This substantial buyback, among the highest in the industry, signals strong management confidence in future growth. The company's Q2 2024 results further support this optimism, with revenue up 28.8% YoY to RMB1,917 million and adjusted operating income surging 52.1% YoY to RMB660 million. The historical high in adjusted operating margin, increasing by 5 percentage points YoY, indicates improved profitability and operational efficiency. For investors, this combination of strong financial performance and significant share repurchases could potentially lead to enhanced shareholder value in the long term.

BOSS Zhipin's market position as China's largest online recruitment platform is further solidified by its impressive user growth metrics. The 25.2% YoY increase in average monthly active users to 54.6 million in Q2 2024 demonstrates strong user engagement and platform stickiness. More importantly, the 31.1% YoY growth in total paid enterprise customers over the 12 months ended June 30, 2024, indicates successful monetization of the user base. This growth in both users and paying customers suggests BOSS Zhipin is effectively capitalizing on its innovative Direct Recruitment model, potentially widening its competitive moat in the Chinese online recruitment industry. The expanded share repurchase program could be seen as a strategic move to capitalize on the company's strong market position and financial performance.

BEIJING, Aug. 29, 2024 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), today announced that the Company’s board of directors has authorized a new share repurchase program effective from August 29, 2024 for a 12-month period, under which the Company may additionally repurchase up to US$150 million of its shares (including in the form of American depositary shares), in a sign of confidence about the Company’s continued growth in the future. This new share repurchase program will operate in conjunction with the existing share repurchase program that became effective on March 20, 2024, also for a 12-month period, under which the Company may repurchase up to US$200 million of its shares (including in the form of American depositary shares).

Combined, these two share repurchase programs bring the total maximum repurchase amount to US$350 million, representing 7.2% of the Company’s current market value as of today, which is among the highest in the industry.

The largest online recruitment platform in China, BOSS Zhipin, is also a pioneer of the next-generation Direct Recruitment model, which is transforming China’s online recruitment industry. With growing brand recognition and improved operational efficiency, BOSS Zhipin has continuously achieved significant progress in both its operational and financial performance.

On August 28, 2024, the Company announced its unaudited financial results for the quarter ended June 30, 2024. The Company reported total revenue of RMB1,917 million for the second quarter of 2024, representing a 28.8% increase year over year, and an adjusted income from operations of RMB660 million for the second quarter of 2024, representing a 52.1% increase year over year. The adjusted operating margin reached a historical high this quarter, rising by 5 percentage points compared with the same period last year. Average monthly active users reached 54.6 million in the second quarter of 2024, an increase of 25.2% year over year; while total paid enterprise customers in the 12 months ended June 30, 2024 rose by 31.1% compared with the same period last year.

As part of the Company’s ongoing efforts to enhance shareholder value, it has actively repurchased ordinary shares with a total consideration of US$88 million as of early August since March 27, 2024. These efforts demonstrate the management’s strong confidence in the Company’s sustainable growth.


FAQ

What is the new total amount of KANZHUN 's (BZ) share repurchase program?

KANZHUN (BZ) has expanded its share repurchase program to a total of US$350 million, combining a new US$150 million program with the existing US$200 million program.

How much did BOSS Zhipin's (BZ) revenue grow in Q2 2024?

BOSS Zhipin (BZ) reported a total revenue of RMB1,917 million for Q2 2024, representing a 28.8% increase year-over-year.

What was KANZHUN 's (BZ) user growth in Q2 2024?

KANZHUN (BZ) reported that its average monthly active users reached 54.6 million in Q2 2024, an increase of 25.2% year-over-year.

How much has BOSS Zhipin (BZ) spent on share repurchases as of August 2024?

As of early August 2024, BOSS Zhipin (BZ) had repurchased ordinary shares with a total consideration of US$88 million since March 27, 2024.

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