Kanzhun Ltd. (2076.HK,BZ.US), operator of the Boss Zhipin online recruitment platform, on Wednesday reported its revenue rose 7.6% year-on-year to 2.07 billion yuan ($304 million) in the first quarter, while its net profit surged 120% to 1.13 billion yuan. Its adjusted net profit came in at 856 million yuan, up by a more modest 12.1% year-over-year.
Chairman and CEO Zhao Peng said the company’s business momentum accelerated following the Chinese New Year holiday. He attributed the growth to improving spring recruitment demand and a sustained increase in users driven by deeper market penetration.
The company’s total paid enterprise customers reached 7.1 million during the 12 months through March this year, up 10.9% compared with the year-earlier 12 month period. Meanwhile, average monthly active users in the first quarter stood at 60.9 million, up 5.7% year-over-year.
Kanzhun’s New York-listed stock closed down 0.3% on Wednesday after the announcement. The stock is down 45% from its 52-week high.
By Lau Chi Hang
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