Q1 2026 Kanzhun Ltd Earnings Call Transcript
Key Points
- Kanzhun Ltd (BZ) reported strong user growth, acquiring over 15 million newly verified users from January to April 2026.
- The number of paid enterprise customers reached 7.1 million, marking a 10.9% year-on-year increase.
- Revenue for the first quarter was RMB2.07 billion, up 7.6% year-on-year, despite a shorter peak recruitment season.
- The company achieved an adjusted operating income of over RMB810 million, with an operating margin of 39.4%, up 3.4 percentage points year-on-year.
- AI-related roles on the platform saw revenue growth of over 100%, indicating strong demand in this sector.
- The peak recruitment season was shorter this year due to a later Chinese New Year, impacting revenue comparisons with the previous year.
- Despite revenue growth, the overall revenue scale of AI-supported closed-loop services remains relatively small.
- Sales and marketing expenses increased by 2% year-on-year, driven by higher advertising and marketing costs.
- R&D expenses increased by 5% year-on-year, primarily due to higher cloud service fees and server depreciation expenses related to AI infrastructure.
- The company faces potential challenges from AI disruption, particularly in the recruitment market, although no significant impact has been observed yet.
Ladies and gentlemen, thank you for standing by and welcome to Tantra Unlimited First Quarter 2026 Financial Results Conference Call.
At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question-and-answer session. Today's conference is being recorded.
At this time, I'd like to turn the conference over to Ms. Laura Zhang, Senior Manager of Investor Relations. Please go ahead, ma'am.
Thank you, operator. Good evening and good morning, everyone. Welcome to our first quarter 2026 earnings conference call. Joining me today are our... Founder, Chairman, and CEO, Mr. Jonathan Peng Zhao, and our Deputy CFO, Ms. Wenbei Wang. 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 under the company's control, which may cause actual results,
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