Kanzhun operates BOSS Zhipin, China's leading mobile-native online recruitment platform. The platform's core feature is direct, real-time chat between job seekers and enterprise recruiters, replacing the traditional model of submitting applications to a job board. Job seekers — white-collar professionals, blue-collar workers, and college students — can browse and chat for free. Enterprises pay for premium access to the candidate pool, visibility-boosting tools, and features that improve hiring efficiency. As of end-2025, the platform had 252.6 million verified job seekers, 36.8 million verified enterprise users, and 60.7 million monthly active users. The platform facilitated over 6.7 billion chat messages per month. Revenue is almost entirely enterprise-driven, with 6.8 million paid enterprise customers in FY2025. SMEs (under 100 employees) now account for the majority of revenue, and lower-tier cities (Tier 3 and below) have roughly doubled their revenue share over four years. Blue-collar recruitment is the fastest-growing segment by both users and revenue. An emerging revenue stream is closed-loop placement, where BOSS Zhipin earns fees on successful hires rather than platform access — management expects this business to double or triple in FY2026. The company is also rolling out AI-powered tools for both job seekers and enterprise recruiters. Internationally, BOSS Zhipin launched OfferToday in Hong Kong, with broader international markets at an early stage.
Read full business overview →Mid to long-term bullish thesis
View →Mid to long-term bearish thesis
View →Mid to long-term bull-bear debate
View → NEWSummary and scoring of the bull-bear debate
View →Find ideas with similar bull or bear theses
View →Investor-relevant company attributes
View →Key risks to the business
View →Comparisons of annual risk disclosures
View →