Kanzhun Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2019
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2019
Net Income	2,153	1,585	1,099	107.25	-1,071	-941.9	Upgrade
Depreciation & Amortization	693.55	686.48	427.89	287.4	189.44	108.04	Upgrade
Loss (Gain) From Sale of Assets	0.99	0.65	0.18	-0.1	0.11	0.23	Upgrade
Stock-Based Compensation	1,035	1,144	1,057	692.2	417.28	124.11	Upgrade
Provision & Write-off of Bad Debts	0.7	0.79	0.09	0.34	-	-	Upgrade
Other Operating Activities	-94.67	-20.17	-275.06	-43.02	1,502	538.21	Upgrade
Change in Accounts Receivable	-2.58	-17.49	-7.04	-5.98	6	-5.2	Upgrade
Change in Inventory	0.08	-3.04	-	-	-	-	Upgrade
Change in Accounts Payable	-29.41	-28.68	24.74	10.18	13.46	-22.75	Upgrade
Change in Unearned Revenue	126.49	289.51	733.18	102.32	758.22	585.53	Upgrade
Change in Other Net Operating Assets	-59.01	-93.91	-13.18	-147.55	-173.79	9.64	Upgrade
Operating Cash Flow	3,823	3,542	3,047	1,003	1,641	395.91	Upgrade
Operating Cash Flow Growth	8.82%	16.26%	203.78%	-38.89%	314.58%	-	Upgrade
Capital Expenditures	-138.08	-856.05	-955.51	-340.12	-259.89	-138.21	Upgrade
Sale of Property, Plant & Equipment	1.14	0.12	6.95	0.32	0.03	0.04	Upgrade
Cash Acquisitions	-	-150.22	-0.07	-9.93	-	-	Upgrade
Investment in Securities	-2,787	-1,011	-8,990	-2,467	-342	605.48	Upgrade
Investing Cash Flow	-2,924	-2,017	-9,939	-2,817	-601.86	467.31	Upgrade
Issuance of Common Stock	240.77	191.32	217.71	249.66	6,443	79	Upgrade
Repurchase of Common Stock	-1,452	-1,652	-71.84	-918.89	-11.58	-	Upgrade
Financing Cash Flow	-1,216	-1,461	-417.02	-669.23	6,431	2,882	Upgrade
Foreign Exchange Rate Adjustments	3.96	15.07	29.79	892.84	-127.23	-154.48	Upgrade
Net Cash Flow	-312.88	80.13	-7,279	-1,590	7,344	3,591	Upgrade
Free Cash Flow	3,685	2,686	2,091	662.92	1,381	257.7	Upgrade
Free Cash Flow Growth	73.02%	28.45%	215.50%	-52.01%	436.09%	-	Upgrade
Free Cash Flow Margin	47.49%	36.52%	35.14%	14.70%	32.44%	13.25%	Upgrade
Free Cash Flow Per Share	8.17	5.91	4.63	1.45	5.22	4.64	Upgrade
Cash Income Tax Paid	392.08	306.76	133.46	101.29	-	-	Upgrade
Levered Free Cash Flow	2,812	1,570	2,363	901.96	2,650	705.37	Upgrade
Unlevered Free Cash Flow	2,812	1,570	2,363	901.96	2,650	705.37	Upgrade
Change in Working Capital	35.56	146.39	737.71	-41.03	603.9	567.23	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.