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Tag: BZ Stock

  • Kanzhun Limited (BZ) surged in the current market; here is why?

    Kanzhun Limited (BZ) surged in the current market; here is why?

    Kanzhun Limited (BZ) skyrocketed in the current market after announcing the date for the fourth quarter and fiscal 2021 results. BZ values at $24.79, gaining more than 34.44% compared to the previous closing price. The stock closed at $18.44 at the end of the last trading session. The stock volume traded in the previous trading session was around 4.15 million shares. The current market cap of the company is about $10.31 billion.

    BZ: Fourth Quarter Release Date Announcement

    Kanzhun Limited (BZ) owns Chinese internet recruiting leader BOSS Zhipin. A disruptive tool that fosters two-way conversation emphasizes intelligent suggestions and generates new situations in online hiring. The Company was founded eight years ago and has grown rapidly. BOSS Zhipin has established tremendous network effects to increase recruiting efficiency and accelerate growth.

    The company announced in a press release that it would report its unaudited consolidated fourth quarter and fiscal 2021 results on March 23, 2022, before the market opens on Wednesday. The company’s management will hold the conference at 8:00 AM US Eastern Time on March 23, 2022.

    BZ: Share Repurchase Program

    Kanzhun Limited (BZ) recently announced that its board had approved a share repurchase program of up to US$150 million. The company will buy shares in the next twelve months.

    Preliminary market pricing, private negotiations block trades, and other legally permitted procedures may be used by the Company to make proposed repurchases from time to time. The Company’s board of directors may modify this program.

    BZ: Q3 Key Financials (CNY)

    • The company reported a revenue of CNY 1.21 billion in Q3, representing a 105% increase in year/year change.
    • BZ announced a net income of CNY 286.17 million, with a massive increase of 746% compared to the same quarter last year.
    • Its EPS in Q3 was 0.62 gaining 214% year/year.
    • The company has CNY 10.76 billion in cash and cash equivalents as of the third quarter.

    Conclusion

    The company is looking forward to announcing robust fiscal 2021 results. The previous results show that the company must have the same growth rate as in the quarters. The company’s share repurchase program shows that it is keen on giving back the value to its shareholders.

  • Is This Why The Kanzhun (BZ) Stock Falling Premarket?

    An early Tuesday premarket price quote for leading online recruitment platform in China Kanzhun Limited (BZ) is $32.56 down -10.33%. Kazhun stock closed at $36.31 last session, down -2.13%. A total of 1.08 million shares were traded on the BZ stock, which is less than the 2.97M average daily volume for the last 50 days. BOSS Zhipin has lost -13.65% of its value in the last five days yet has experienced a -2.49% loss year-to-date. After commencement of the cybersecurity review in China, BZ stock has lost ground.

    Why is BZ facing the review?

    BOSS Zhipin, a Chinese online recruitment platform operated by Kanzhun, has the largest MAU of any recruitment platform in China in 2020. BZ connects company users and job seekers by utilizing a highly interactive mobile app that was established seven years ago. With BZ’s platform, companies are able to communicate two-way, create intelligent recommendations, and automate procedures related to online recruiting. BZ has realized higher recruitment efficiency and rapid expansion thanks to its large and diverse user base. By optimizing efficiency, equality, and choice, BZ is delivering an excellent user experience.

    On July 5, 2021, KANZHUN announced that BZ was subject to a cybersecurity review under the Cyberspace Administration of China.

    • In order to facilitate the review process, “BOSS Zhipin” app must suspend new user registration in China during the period of review.
    • During the review process, BZ will cooperate fully with the Chinese government authority.
    • A comprehensive examination of cybersecurity risks is in the works at BZ, and the company will continue to enhance its technology capability and cybersecurity awareness.
    • While BZ has suspended new registrations for the “BOSS Zhipin” application in China, the company maintains regular operations.
    • In announcing its investigation into online recruiter BZ, truck-hailing apps Huochebang and Yunmanman, China’s cyberspace watchdog increased its crackdown on mainland tech companies amid tightened data security regulations.
    • Full Truck Alliance, a merging of Huochebang and Yunmanman, and BOSS Zhipin owner BZ went public in the US stock market last month.
    • According to a statement from the CAC, new user registrations at BZ as well its merged businesses should be halted while the investigation is conducted “to prevent national data security risks and safeguard national security”.

    How it will impact BZ?

    Its platform boasts more than 10 million registered truck drivers and more than 5 million truck owners, making Full Truck Alliance an Uber for trucks. In its prospectus, Kanzhun said that BZ was China’s biggest online recruiter in the first quarter of 2021, with 24.9 million monthly active users.