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
Period Ending	Sep '25 Sep 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
Net Income	2,491	1,585	1,099	107.25	-1,071	-941.9
Depreciation & Amortization	686.48	686.48	427.89	287.4	189.44	108.04
Loss (Gain) From Sale of Assets	0.65	0.65	0.18	-0.1	0.11	0.23
Stock-Based Compensation	1,144	1,144	1,057	692.2	417.28	124.11
Provision & Write-off of Bad Debts	0.79	0.79	0.09	0.34	-	-
Other Operating Activities	-283.87	-20.17	-275.06	-43.02	1,502	538.21
Change in Accounts Receivable	-17.49	-17.49	-7.04	-5.98	6	-5.2
Change in Inventory	-3.04	-3.04	-	-	-	-
Change in Accounts Payable	-28.68	-28.68	24.74	10.18	13.46	-22.75
Change in Unearned Revenue	289.51	289.51	733.18	102.32	758.22	585.53
Change in Other Net Operating Assets	-93.91	-93.91	-13.18	-147.55	-173.79	9.64
Operating Cash Flow	4,185	3,542	3,047	1,003	1,641	395.91
Operating Cash Flow Growth	19.12%	16.26%	203.78%	-38.89%	314.58%	-
Capital Expenditures	-856.05	-856.05	-955.51	-340.12	-259.89	-138.21
Sale of Property, Plant & Equipment	0.12	0.12	6.95	0.32	0.03	0.04
Cash Acquisitions	-150.22	-150.22	-0.07	-9.93	-	-
Investment in Securities	-1,011	-1,011	-8,990	-2,467	-342	605.48
Investing Cash Flow	-3,893	-2,017	-9,939	-2,817	-601.86	467.31
Issuance of Common Stock	191.32	191.32	217.71	249.66	6,443	79
Repurchase of Common Stock	-1,652	-1,652	-71.84	-918.89	-11.58	-
Financing Cash Flow	1,591	-1,461	-417.02	-669.23	6,431	2,882
Foreign Exchange Rate Adjustments	-0.22	15.07	29.79	892.84	-127.23	-154.48
Net Cash Flow	1,882	80.13	-7,279	-1,590	7,344	3,591
Free Cash Flow	3,329	2,686	2,091	662.92	1,381	257.7
Free Cash Flow Growth	30.15%	28.45%	215.50%	-52.01%	436.09%	-
Free Cash Flow Margin	41.55%	36.52%	35.14%	14.70%	32.44%	13.25%
Free Cash Flow Per Share	7.29	5.91	4.63	1.45	5.22	4.64
Cash Income Tax Paid	306.76	306.76	133.46	101.29	-	-
Levered Free Cash Flow	2,842	1,570	2,363	901.96	2,650	705.37
Unlevered Free Cash Flow	2,842	1,570	2,363	901.96	2,650	705.37
Change in Working Capital	146.39	146.39	737.71	-41.03	603.9	567.23

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