Chinese recruitment platform Kanzhun Limited, whose core product is job board Boss Zhipin, yesterday reported its unaudited financial results for the full year and fourth quarter ended 31 December 2022.

Revenues for the fourth quarter of 2022 stood at RMB 1.08 billion (USD 157.2 million), down 0.7% when compared to the same period a year ago.

Average monthly active users (MAU) for the fourth quarter of 2022 were 30.9 million, an increase of 26.6% from 24.4 million for the same quarter of 2021. Monthly active users refer to the number of verified user accounts, including both job seekers and enterprise users, that logged on to the group’s mobile application in a given month at least once.

Total operating cost and expenses were RMB 1.42 billion (USD 206.3 million) for the fourth quarter of 2022, representing an increase of 69.5% from the same period of 2021.

Revenues from online recruitment services to enterprise customers stood at RMB 1.07 billion (USD 155.1 million) for the fourth quarter of 2022, representing a decrease of 1.1% from the same period in 2021.

Revenues from other services, which mainly comprise paid value-added services offered to job seekers, were RMB 12.6 million (USD 1.8 million) for the fourth quarter of 2022, representing an increase of 44.8% from the same period in 2021, mainly benefiting from an expanded user base.

The group also reported revenue for the full year of RMB 4.51 billion (USD 655.3 million), an increase of 5.9% compared to 2021.

Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the company, said, “In the past quarters, our efforts to improve our user experience and service capabilities have been continuously validated. We have witnessed robust user growth and engagement since the beginning of 2023 as a result of our enhanced brand recognition and strengthened competitive advantages. With the revival in recruitment demand, we are confident in delivering strong returns for our shareholders in the years to come.”

Phil Yu Zhang, Chief Financial Officer, added, “Amidst the various external challenges, including the Covid-19 pandemic, we achieved a solid financial performance for the fourth quarter and for the full year. We remained highly efficient with our marketing activities while growing users at scale. Encouraged by the recent recovery trend, we are optimistic about embracing strong growth this year while maintaining discipline in our marketing and other expenses to ensure high-quality growth.”

On December 2022, Kanzhun Limited began trading on the stock exchange of Hong Kong Limited (HKEX) after it announced a proposed dual primary listing. The company’s American depositary shares, each representing two shares, will continue to be primarily listed and traded on the Nasdaq Global Select Market.

Kanzhun shares closed on Monday at USD 17.85, up 0.05% on the day. The company has a market cap of USD 8.20 billion.