Key Highlights

  • Kanzhun (NASDAQ:BZ) traded at USD 13.00 on November 12, 2026, down 22.25%, on about 7.94 million shares, 1.8 times normal volume, cutting its Market Value to about USD 8.1 billion.
  • The move came around its third-quarter update, and market reports indicated that its next-quarter Revenue guidance fell short of expectations; full figures could not be verified.
  • In the second quarter, revenue rose 14.1% to RMB 2.40 billion, Operating Income rose 32.6% and average monthly active users reached 70.2 million.
  • The stock trades at about 9.21 times trailing Earnings of USD 1.41 per share, with a trailing Dividend Yield of 3.05% and a buyback authorisation of up to USD 400 million.

Growth Expectations Reset

Kanzhun (NASDAQ:BZ) operates BOSS Zhipin, China's largest mobile recruitment platform, which matches Job seekers directly with hiring managers, and it is also listed in Hong Kong. Its American depositary shares fell 22.25% to USD 13.00 on November 12 on Volume of about 7.94 million shares. The decline came around the company's third-quarter update, and market reports indicated that guidance for revenue in the next quarter was below forecasts. The precise figures could not be independently verified at the time of writing, so investors should check the company's release for detail. For a platform priced on steady double-digit growth, even a modest shortfall in the outlook can lead to a sharp rerating, especially when the hiring environment in China remains uneven and youth Unemployment is elevated. The size of the fall indicates that the market is questioning how long growth in the low to mid teens can last.

What the Last Reported Quarter Showed

The second-quarter report, released on August 25, set a high bar. Revenue rose 14.1% to RMB 2,398.6 million, with online recruitment revenue up 14.7% to RMB 2,384.0 million. Operating income climbed 32.6% to RMB 863.2 million, and Net Income jumped 173.1% to RMB 1,942.3 million, helped by RMB 1,466.1 million of Investment gains, while adjusted net income rose 9.4% to RMB 1,029.2 million. Average monthly active users rose 10.4% to 70.2 million and paid enterprise customers over the prior 12 months rose 10.8% to 7.2 million. At that time, the company guided third-quarter revenue to RMB 2.41 billion to RMB 2.50 billion, growth of 11.4% to 15.6%. Operating Cash Flow fell 10.2%, a detail that suggests cash conversion was already softening before the latest update. Investors will want to see whether user growth and paid customer growth held near 10% in the third quarter.

Capital Returns and Ownership Changes

Kanzhun has leaned on Capital returns to support its shares. It declared an annual dividend of USD 0.51 per depositary share, about USD 230 million in total, paid in October, has bought back more than USD 300 million of stock in 2026 and holds an authorisation of up to USD 400 million running to August 28, 2027. At USD 13.00, the shares trade at about 9.21 times trailing diluted earnings of USD 1.41, which grew 113.71% partly because of investment gains, and offer a trailing yield of 3.05%. Ownership shifts are also worth watching. An entity linked to the chief executive sold 15.17 million Class A shares in a Hong Kong Block Trade in September, and a November 10 filing showed a major technology Shareholder now holds 2.2% of the Class A shares. Strong cash reserves give the company flexibility to keep repurchasing shares after the fall.

Where Things Stand

Kanzhun (NASDAQ:BZ) fell 22.25% to USD 13.00 on November 12, 2026 around its third-quarter update, with market reports pointing to a revenue outlook below expectations. The company remains profitable, trades at about 9.21 times trailing earnings and returns cash through dividends and buybacks, but the market is now doubting the durability of its growth.