What factors drove the changes in BOSS ZHIPIN's revenue and profit?

What is the market's earnings forecast for BOSS ZHIPIN next quarter?

What guidance did BOSS ZHIPIN's management provide for the next earnings period?

What does BOSS ZHIPIN do and what are its main business segments?

What is the revenue and EPS growth rate for BOSS ZHIPIN year over year?

What is BOSS ZHIPIN's latest dividend and current dividend yield?

What is BOSS ZHIPIN's gross profit margin?

What were the key takeaways from BOSS ZHIPIN's earnings call?

- **Revenue Surge**: Q3 revenue up 13.3% YoY to RMB 2.16 billion, driven by 25% YoY job postings growth and 13.3% YoY paid enterprise customer expansion.
- **AI-Driven Efficiency**: Full rollout of AI job search assistant and AI Quick Hiring tools boosted user engagement, with reuse rates rising among recruiters.
- **Profitability Boost**: Net profit margin 35.8%, adjusted net margin 45.8%, up 7.2 percentage points YoY, supported by 21% YoY decline in share-based compensation.
- **SME Growth Engine**: 80% of paid customers are SMEs, with SME revenue contribution up 2.2 percentage points QoQ, signaling post-macro recovery strength.
- **Cautious AI Expansion**: Balancing AI adoption with user trust, focusing on high-quality data and incremental feature rollouts to maintain ecosystem balance.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached RMB 2.16 billion, up 13.3% YoY, driven by user growth and enterprise demand recovery. Adjusted operating profit rose 49.3% YoY to RMB 900 million.
- **User Expansion**: Acquired 40 million new verified users from January to October; MAU on BOSS Zhipin app reached 53.82 million in Q3, with strong DAU/MAU ratio.
- **Enterprise Demand**: Newly posted job positions increased 25% YoY, with enterprise users growing faster than job seekers. Paid enterprise customers rose 13.3% YoY to 6.8 million.
- **Industry Trends**: Blue-collar revenue contribution hit a record high, led by manufacturing. White-collar sectors like AI and Internet services saw growth, with small/medium enterprises (SMEs) driving paid user growth.
- **AI Integration**: Fully launched AI job search assistant, with interactions up QoQ. AI interview coaching and recruitment tools (e.g., AI Quick Hiring) showed improved user engagement and reuse rates.
- **Strategic Focus**: Prioritize user growth (35 million+ new users annually) while maintaining profitability, with cautious AI rollout to balance efficiency and ecosystem impact.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: Total revenue RMB 2.2 billion (13% YoY growth). SME revenue contribution increased 2.2 percentage points, ARPPU stable.
- **Cost Efficiency**: Operating costs down 7% YoY to RMB 1.5 billion. Share-based compensation fell 21% YoY to RMB 216 million. Gross margin improved 2.2 percentage points YoY to 85.8%.
- **Profitability**: GAAP net profit RMB 775 million (67% YoY growth), net margin 35.8%. Adjusted net margin 45.8%, up 7.2 percentage points YoY.
- **Cash Flow**: Operating cash flow RMB 1.2 billion (45% YoY growth). Ending cash position RMB 19.2 billion.
- **Q4 Outlook**: Revenue expected RMB 2.05-2.07 billion (12.4-13.5% YoY growth), maintaining cost control and margin expansion.

**【Q&A Highlights】**
- **Demand Recovery**: CEO noted improved supply-demand balance, with enterprise users growing faster than job seekers. Fresh graduate job postings increased 20% YoY, easing pressure on job seekers.
- **Renewal Trends**: CFO reported net dollar retention rate bottoming out, with SME and key account renewal rates improving. This reflects macro recovery and customer satisfaction.
- **Market Share**: CEO emphasized serving SMEs (80% of paid customers) and China's 40 million SMEs, leaving ample growth room. Competitive advantage lies in ROI and service quality.
- **AI Competition**: CEO highlighted cautious AI integration to preserve user trust. High-quality data (e.g., job seeker/recruiter interactions) gives BOSS Zhipin an edge over AI-focused entrants.
- **Profit vs. Growth**: CEO prioritizes user growth and ecosystem strength over short-term margin gains, but expects margins to continue improving through operational efficiency.


Kanzhun Limited (BZ) Q3 2025 Earnings Call Transcript

Revenue

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BZ

BZ fundamentals

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