Kanzhun’s Earnings Momentum Highlights a Shift Inside China’s Job Market

What happened

According to a filing with the Securities and Exchange Commission dated November 13, 2025, CoreView Capital Management Ltd bought 298,584 additional shares of Kanzhun Limited (NASDAQ:BZ). The post-trade position totals 9,447,889 shares, valued at $220.70 million as of September 30, 2025. This action brought Kanzhun Limited to 24.27% of CoreView’s reportable U.S. equity assets.

What else to know

CoreView increased its stake in Kanzhun Limited, which now accounts for 24.27% of 13F AUM

Top holdings after the filing:

• NASDAQ: BZ: $220.70 million (24.27% of AUM)
• NASDAQ: JD: $216.79 million (23.9% of AUM)
• NASDAQ: TCOM: $145.03 million (16.0% of AUM)
• NYSE: SE: $131.60 million (14.5% of AUM)
• NYSE: TAL: $123.17 million (13.6% of AUM)

As of November 13, 2025, shares of Kanzhun Limited were priced at $20.88, up 51.4% over the past year, outperforming the S&P 500 by 39.93 percentage points

Kanzhun Limited reported trailing twelve months revenue of $1.09 billion and net income of $304.08 million through June 30, 2025

The position was previously 21.3% of the fund's AUM as of the prior quarter

Company overview

Company snapshot

Kanzhun Limited operates an online recruitment platform in China that connects job seekers with employers. The company operates BOSS Zhipin, an online recruitment platform connecting job seekers with employers in China; primary revenue is generated from recruitment-related services.

Kanzhun Limited monetizes through fees paid by enterprises and corporations for recruitment listings, premium access, and value-added services on its digital platform.

The company serves a broad base of corporate clients, ranging from small and medium-sized enterprises to large organizations seeking talent acquisition solutions in the Chinese labor market.

Foolish take

CoreView Capital increased its stake in Kanzhun even after the stock had already risen sharply. Following the addition, Kanzhun accounts for roughly a quarter of the fund’s reported U.S. equity holdings, placing it among CoreView’s largest positions. The increase came despite strong recent performance, indicating the firm continues to view Kanzhun as a core holding rather than a position to harvest after a rally.

Kanzhun runs BOSS Zhipin, which is closer to a live hiring marketplace than a job board. Employers pay to reach candidates and manage the recruiting flow within the platform, and the product works best when response times are fast and match quality remains high. That creates a simple operating tension investors should keep in mind: the platform’s value rises with activity and engagement, but the company still has to keep recruiter ROI strong enough that employers keep paying even when hiring slows. The reason Kanzhun stands out is that it has already shown it can scale this model into real profits, with trailing revenue of about $1.09 billion and net income of about $304 million through June 30, 2025.

For investors, Kanzhun’s next chapter is about whether profitability holds up when the hiring tape gets choppy. Enterprise spending behavior and margin stability will matter more than headline job growth. If Kanzhun keeps posting clean earnings without needing a hiring boom to do it, the stock will justify being treated as a durable platform business rather than a short-cycle China rebound trade.

Glossary

AUM: Assets Under Management; the total market value of investments a fund or manager oversees.
13F: A quarterly SEC filing required from institutional investment managers to disclose U.S. equity holdings.
Reportable AUM: The portion of a fund's assets that must be disclosed in regulatory filings, such as the 13F.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Stake: The ownership interest or shareholding a fund or investor has in a company.
Filing: An official document submitted to a regulatory authority, such as the SEC, reporting financial or ownership information.
Outperforming: Achieving a higher return or growth rate than a specified benchmark or index.
Premium access: Paid, enhanced features or services offered on a digital platform beyond the standard offering.
Value-added services: Additional services provided for a fee that enhance the core offering of a company.

Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Sea Limited. The Motley Fool recommends JD.com. The Motley Fool has a disclosure policy.