Kanzhun Ltd
BZ · Services-Computer Programming, Data Processing, Etc. · EDGAR filings ↗
Reference price $6.81 — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price — not a live quote)
Grade
A80Chinese online-recruitment platform (BOSS Zhipin) — highly profitable with elite free cash flow and a fortress balance sheet.
Strengths
- Highly profitable — operating margin 30% (90th), net margin 33% (92nd)
- Elite free cash flow, fortress liquidity — FCF $634M (87th), FCF margin 54%, current ratio 32.6 (100th)
Risks
- China/VIE-structure and regulatory risk — per 10-K
- Reported revenue volatility — per metrics
- Hiring-market cyclicality — per 10-K
Notable findings
- Customer concentration~32% of revenue from one customer/distributor — 6% and 32
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $2.2B cash & investments
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, RENAISSANCE TECHNOLOGIES LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 10 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$1M, last 6mo) Form 4 ↗
Key metrics
Gross margin
85.1%
Operating margin
29.8%
Net margin
33.1%
Return on equity
13.7%
Return on assets
11.1%
Revenue growth (QoQ)
17.3%
Net-income growth
80.2%
Current ratio
4.7×
Free cash flow
$634M
Tangible book value
$2.8B
Cash & investments
$2.2B
Stock comp / revenue
11.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Sun Yonggang | Option exercise | 4.2K | — |
| 2026-06-16 | Sun Yonggang | Sell | 548 | $6.81 |
| 2026-06-16 | Liu Hongyu | Option exercise | 4.2K | — |
| 2026-06-16 | Chen Xu | Option exercise | 370 | — |
| 2026-06-16 | Chen Xu | Sell | 84 | $6.83 |
| 2026-06-16 | Wang Wenbei | Option exercise | 25K | — |
| 2026-06-16 | WANG Xiehua | Option exercise | 150K | — |
| 2026-06-16 | WANG Xiehua | Sell | 71K | $6.82 |
| 2026-06-12 | Zhao Peng Jonathan | Other | 3.2M | — |
| 2026-06-12 | Zhao Peng Jonathan | Other | 3.2M | — |
| 2026-03-30 | Mu Yang | Sell | 17K | $6.69 |
| 2026-03-30 | Zhang Kylen Tao | Option exercise | 24K | — |
| 2026-03-30 | Mu Yang | Option exercise | 40K | — |
| 2026-03-30 | Wang Wenbei | Option exercise | 54K | — |
| 2026-03-30 | Wang Wenbei | Sell | 814 | $6.69 |
| 2026-03-20 | Chen Xu | Option exercise | 4.7K | — |
| 2026-03-20 | Mu Yang | Option exercise | 3.9K | — |
| 2026-03-20 | Mu Yang | Sell | 510 | $6.68 |
| 2026-03-20 | Zhang Kylen Tao | Option exercise | 27K | — |
| 2026-03-20 | WANG Xiehua | Option exercise | 1.5K | — |
| 2026-03-20 | WANG Xiehua | Sell | 116 | $6.70 |
| 2026-03-20 | Wang Wenbei | Option exercise | 4.3K | — |
| 2026-03-20 | Wang Wenbei | Sell | 20 | $6.68 |
| 2026-03-19 | Zhao Peng Jonathan | Sell | 64K | $6.75 |
| 2026-03-18 | Zhao Peng Jonathan | Sell | 64K | $6.98 |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001104659-26-050959 ↗ |
| 20-F | 2025-04-10 | 2024-12-31 | 0001410578-25-000682 ↗ |
| 20-F | 2024-04-29 | 2023-12-31 | 0001104659-24-053379 ↗ |
| 20-F | 2023-04-27 | 2022-12-31 | 0001104659-23-050709 ↗ |
| 20-F | 2022-04-28 | 2021-12-31 | 0001193125-22-127960 ↗ |