Exhibit 99.1

KANZHUN LIMITED Announces Third Quarter 2024 Financial Results

BEIJING, December 11, 2024 – KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in China, today announced its unaudited financial results for the quarter ended September 30, 2024.

Third Quarter 2024 Highlights

Mr. Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, remarked, “While the overall recruitment market environment remained challenging in the third quarter, our strategical emphasis on key growth engines continue to yield positive results. Robust user growth, solid enterprise retention and stable ARPPU (average revenue per paying enterprise user), all attest the resilience of our business model in the face of headwinds and the sustainability of our monetization approach. Our unwavering commitment to shareholder returns, coupled with ongoing share repurchase efforts, underscores the management’s resolute confidence in the Company’s long-term growth trajectory.”

Mr. Phil Yu Zhang, Chief Financial Officer of the Company, elaborated, “We delivered solid sets of financial results in the third quarter with revenues up by 19.0% year-on-year and net income hitting quarterly record high. Our cost structure remained stable, meanwhile achieved a robust 30.0% year-on-year MAU growth, showcasing improved marketing efficiency. As we continue to focus on sustainable cost control, the strong operating leverage inherent in our business model will further enhance our profitability in the coming quarters.”

Third Quarter 2024 Financial Results

Revenues

Revenues were RMB1,911.6 million (US$272.4 million) for the third quarter of 2024, representing an increase of 19.0% from RMB1,606.6 million for the same quarter of 2023.

Operating cost and expenses

Total operating cost and expenses were RMB1,586.9 million (US$226.1 million) for the third quarter of 2024, representing an increase of 16.8% from RMB1,358.7 million for the same quarter of 2023. Total share-based compensation expenses were RMB275.1 million (US$39.2 million) for the third quarter of 2024, representing a decrease of 4.6% from RMB288.4 million for the same quarter of 2023.

Income from operations and adjusted income from operations

Income from operations was RMB330.2 million (US$47.1 million) for the third quarter of 2024, representing an increase of 26.5% from RMB261.0 million for the same quarter of 2023.

Adjusted income from operations was RMB605.3 million (US$86.2 million) for the third quarter of 2024, representing an increase of 10.2% from RMB549.4 million for the same quarter of 2023.

Net income and adjusted net income

Net income was RMB463.8 million (US$66.1 million) for the third quarter of 2024, representing an increase of 8.9% from RMB425.7 million for the same quarter of 2023.

Adjusted net income was RMB738.9 million (US$105.3 million) for the third quarter of 2024, representing an increase of 3.5% from RMB714.1 million for the same quarter of 2023.

Net income per American depositary share (“ADS”) and adjusted net income per ADS

Basic and diluted net income per ADS attributable to ordinary shareholders for the third quarter of 2024 were RMB1.06 (US$0.15) and RMB1.03 (US$0.15), respectively, compared to basic and diluted net income per ADS of RMB0.98 and RMB0.95 for the same quarter of 2023.

Adjusted basic and diluted net income per ADS attributable to ordinary shareholders3 for the third quarter of 2024 were RMB1.68 (US$0.24) and RMB1.64 (US$0.23), respectively, compared to adjusted basic and diluted net income per ADS of RMB1.64 and RMB1.59 for the same quarter of 2023.

Net cash provided by operating activities

Net cash provided by operating activities was RMB812.3 million (US$115.8 million) for the third quarter of 2024, relatively stable compared to that of RMB812.6 million for the same quarter of 2023.

Cash position

Balance of cash and cash equivalents, short-term time deposits and short-term investments was RMB14,599.5 million (US$2,080.4 million) as of September 30, 2024.

Share Repurchase Program

In August 2024, the Company’s board of directors authorized a new share repurchase program effective from August 29, 2024 for a 12-month period, under which the Company may repurchase up to US$150 million of its shares (including in the form of ADSs). This share repurchase program operates in conjunction with the previous share repurchase program that became effective on March 20, 2024 for a 12-month period, under which the Company may repurchase up to US$200 million of its shares (including in the form of ADSs).

Outlook

For the fourth quarter of 2024, the Company currently expects its total revenues to be between RMB1.795 billion and RMB1.81 billion, representing a year-on-year increase of 13.6% to 14.6%. This forecast reflects the Company’s current views on the market and operational conditions in China, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.

Conference Call Information

The Company will host a conference call at 7:00AM U.S. Eastern Time on Wednesday, December 11, 2024 (8:00PM Beijing Time on Wednesday, December 11, 2024) to discuss the financial results.

Participants are required to pre-register for the conference call at: https://register.vevent.com/register/BI637f58180286482692b41611b0e8df0a

Upon registration, participants will receive an email containing participant dial-in numbers and unique personal PIN. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at https://ir.zhipin.com.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollar (“US$”) amounts at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the exchange rate of RMB7.0176 to US$1.00 on September 30, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP financial measures, such as adjusted income from operations, adjusted net income, adjusted net income attributable to ordinary shareholders, adjusted basic and diluted net income per ordinary share attributable to ordinary shareholders and adjusted basic and diluted net income per ADS attributable to ordinary shareholders as supplemental measures to review and assess operating performance. The Company defines these non-GAAP financial measures by excluding the impact of share-based compensation expenses, which are non-cash expenses, from the related GAAP financial measures. The Company believes that these non-GAAP financial measures help identify underlying trends in the business and facilitate investors’ assessment of the Company’s operating performance.

The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP information used by other companies. The non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for most directly comparable GAAP financial measures. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

A reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures has been provided in the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange of Hong Kong Limited, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission and The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About KANZHUN LIMITED

KANZHUN LIMITED operates the leading online recruitment platform BOSS Zhipin in China. The Company connects job seekers and enterprise users in an efficient and seamless manner through its highly interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network effects to deliver higher recruitment efficiency and drive rapid expansion.

For investor and media inquiries, please contact:

KANZHUN LIMITED

Investor Relations

Email: ir@kanzhun.com

PIACENTE FINANCIAL COMMUNICATIONS

Email: kanzhun@tpg-ir.com

KANZHUN LIMITED

Unaudited Condensed Consolidated Statements of Operations

(All amounts in thousands, except share and per share data)

(1)  Include share-based compensation expenses as follows:

(2)  Each ADS represents two Class A ordinary shares.

KANZHUN LIMITED

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands)

KANZHUN LIMITED

Unaudited Condensed Consolidated Statements of Cash Flows

(All amounts in thousands)

KANZHUN LIMITED

Unaudited Reconciliation of GAAP and Non-GAAP Results

(All amounts in thousands, except share and per share data)