Q1 2025 Kanzhun Ltd Earnings Call Transcript
Key Points
- Kanzhun Ltd (BZ) achieved a GAAP revenue of RMB1.92 billion in Q1 2025, marking a 13% year-on-year increase.
- Net income for the first quarter reached RMB510 million, reflecting a significant 112% year-on-year growth.
- The company reported an adjusted operating margin of 36%, up 13 percentage points from the previous year.
- Kanzhun Ltd (BZ) added over 15 million verified new users from January to April, with monthly active users reaching 57.56 million, a 24% year-on-year increase.
- The company has made solid progress in AI applications, enhancing user experience and operational efficiency, with AI-powered tools improving recruitment efficiency by 25%.
- Despite revenue growth, the ongoing tariff war poses potential risks, although its impact has not intensified yet.
- Share-based compensation expenses, while decreasing, still represent a significant cost, impacting overall profitability.
- The company remains cautious about broadly expanding AI applications, which could limit immediate monetization opportunities.
- Revenue growth from Tier 3 and lower-tier cities, while increasing, still represents a smaller portion of overall revenue.
- The competitive landscape in the human resources industry remains stable, with no revolutionary changes from AI, potentially limiting disruptive growth opportunities.
Ladies and gentlemen, thank you for standing by, and welcome to Kanzhun Limited first quarter 2025 financial results conference call. (Operator Instructions) Today's conference is being recorded. At this time, I'd like to turn the conference over to Ms. Wenbei Wang, Head of Investor Relations. Please go ahead, ma'am.
Thank you, operator. Good evening, and good morning, everyone. Welcome to our first quarter 2025 earnings conference call. Joining me today are our Founder, Chairman and CEO, Mr. Jonathan Peng Zhao; and our Director and CFO, Mr. Phil Yu Zhang.
Before we start, we would like to remind you that today's discussion may contain forward-looking statements, which are based on management's current expectations and observations that involve known and unknown risks, uncertainties and other factors not under the company's control, which may cause actual results, performance or achievements of the company to be materially different.
The company cautions you not to place undue reliance on
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