Kanzhun (BZ) Q1 2026 Earnings Call Transcript

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DATE

May 20, 2026 astatine 8 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Peng Zhao

• Deputy Chief Financial Officer — Wenbei Wang

Full Conference Call Transcript

Peng Zhao: [Interpreted] Hello, everyone. Welcome to our archetypal 4th 2026 net league call. On behalf of the company's employees, absorption squad and Board of Directors, I would similar to widen our sincere gratitude to our users and our investors for their continued support. [Interpreted] Today's presumption volition screen 4 main parts. First, our maturation successful the archetypal 4th second, cardinal trends among occupation seekers and endeavor users connected our platform. Third, the company's position connected AI and strategical approach; and finally, the shareholder return. Let maine commencement with our archetypal 4th growth. As a double-sided platform, we proceed to spot beardown maturation from some occupation seekers and endeavor idiosyncratic sites.

Looking backmost to January to April this year, we acquired implicit 15 cardinal recently verified users. Looking ahead, we judge that achieving implicit 14 cardinal aboriginal verified users for the afloat twelvemonth should beryllium achievable. . Looking astatine paid endeavor customers' condition, fig of paid endeavor customers reached 7.1 cardinal for the 12 months ended March 31, up 10.9% year-on-year and 4.4% quarter-on-quarter. In the archetypal quarter, the mean monthly progressive users oregon MAU connected the [indiscernible] app reached 16.9 cardinal up 5.7% year-on-year. In March, MAU exceeded 72 million, up 4.6% year-on-year.

The rise successful our MAU successful March was much than 10 cardinal higher than the archetypal 4th mean is that the Chinese New Year occurred aboriginal this year, resulting successful a aboriginal highest betterment season. The 2026 Chinese New Year fell connected February 17, portion the 2025 New Year was connected January 29. Hence, this year, the highest recruitment play lone fell wrong March, whereas the highest recruitment play fell wrong some February and March successful 2025. Let maine sermon our revenues. In the archetypal quarter, the institution achieved gross of RMB 2.07 billion, up 7.6% year-on-year.

Please kindly enactment that this fig besides reflects the examination betwixt 1 period of highest play successful 2026 versus 2 months of highest play successful 2025. Looking ahead, we are assured that our gross maturation successful the 2nd 4th and for the afloat twelvemonth volition beryllium stronger than what we delivered successful the archetypal quarter. On the nett perspective, successful the archetypal quarter, the adjusted operating income, excluding share-based compensation expenses, which is implicit RMB 810 million, up 17.8% year-on-year. The adjusted operating borderline was 39.4%, up 3.4 percent points year-on-year. . Second, cardinal trends among endeavor users and occupation seekers connected our platform.