Chinese recruitment platform Kanzhun Limited, whose core product is job board Boss Zhipin, reported its unaudited financial results for the third quarter ended 30 September 2021.

Revenue for the quarter stood at RMB 1.21 billion (USD 189.6 million), an increase of 105.4% from RMB 590.1 million (USD 92.3 million) for the same quarter of 2020.

The increase was primarily due to the growth in revenue from online recruitment services.

Adjusted net income for the quarter was RMB 385.1 million (USD 59.8 million), compared to RMB 52.3 million (USD 8.1 million) for the same quarter last year.

Jonathan Peng Zhao, Founder, Chairman and Chief Executive Officer of the Company, said, “In the third quarter, we focused on improving our service for existing users and enhancing our core competencies, continually investing in both platform and data security enhancements. We believe this is a key factor in driving the sustainable growth of our business and creating long-term value. Staying true to our mission and commitments as a public company, we will continue to make valuable contributions to the development of individuals, and to the prosperity of the enterprises we serve, by leveraging the power of technology.”

Phil Yu Zhang, Chief Financial Officer, added, “We are firmly committed to continuing investment in talents with headcount of R&D and sales personnel growing sequentially.”

Revenue by segment

The increase in Online Recruitment Services was mainly due to the rapid growth in the group’s paid enterprise customer numbers following the expansion of the user base. Total paid enterprise customers increased by 110.5% from 1.9 million in the twelve months ended 30 September 2020 to 4.0 million in the twelve months ended 30 September 2021.

Other Services mainly comprise of paid value-added services offered to job seekers. The segment benefited from continued overall growth in user base.

On 11 June 2021, the company completed its initial public offering.

On 5 July 2021, the company announced it was subject to cybersecurity review by the Cyberspace Administration of China. As a result, the “Boss Zhipin” app has been required to suspend new user registration in China. The process is still ongoing, and the company said it is fully cooperating with the regulator regarding its review.

For the fourth quarter of 2021, the company currently expects its total revenues to be between RMB 1.02 billion (USD 159.64 million) and RMB 1.05 billion (USD 164.34 million), representing a year-on-year increase of 58.1% to 62.8%.

The company published its results today before the opening of the US stock markets.