Kanzhun Limited: Maintain Buy Rating As Fundamentals Remain Solid
Kanzhun Limited continues to be rated as a buy due to solid fundamentals despite some revenue distortions. The company has shown improvements in underlying signals and strong performance in various sectors. Key financial metrics indicate robust margins and a favorable valuation.
- ▪Kanzhun Limited's Q1 performance indicates improved underlying signals despite revenue distortions from a later Chinese New Year.
- ▪The recovery in large enterprises and blue-collar revenue exceeding 40% of total revenue supports the company's growth thesis.
- ▪Kanzhun maintains strong margins with 85% gross, approximately 42% EBITDA, and around 30% EBIT.
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