Kanzhun's AI-Driven Growth: Record Revenue & User Base

Kanzhun, the company behind BOSS Zhipin, reported impressive Q4 and full year 2024 earnings, despite a challenging economy. Revenue surged by 15% to 1.82 billion RMB in the quarter and 24% to 7.36 billion RMB for the year, with adjusted net income also up 15% and 26% respectively. User growth remained strong, with average monthly active users on the app increasing by 28% year-over-year to 52.7 million in the quarter and 53 million for the full year. Kanzhun added nearly 49.5 million new verified users, served over 225 million total users and 16.6 million enterprises. Blue-collar segments now account for 38% of revenue, with significant gains in manufacturing, non-tier one cities, and small businesses under 20 employees. The companys AI push is driving efficiency, with a 30% faster audit process and new features like AI search for job seekers, interview bots for recent grads, and recruiter agents that match candidates and handle chats. Post-Chinese New Year, spring hiring saw a surge in daily new job postings, peak daily users, and AI jobs. Kanzhun demonstrated smart cost control, with marketing expenses down despite growth and operating margins at a record 36.1% in the quarter. They also repurchased 229 million dollars in shares, reducing outstanding shares by 3.7%. Looking ahead, first quarter 2025 revenue is expected to increase by 11.5% to 12.7% to between 1.9 and 1.92 billion RMB. Kanzhuns user-first model continues to thrive, with AI opening new opportunities and margins set to expand toward a 3 billion RMB non-GAAP operating profit target for 2025.

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