Kanzhun Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-	2,690	1,567	1,099	107.25	-1,071
Depreciation & Amortization	-	815.01	686.48	427.89	287.4	189.44
Stock-Based Compensation	-	911.99	1,144	1,057	692.2	1,924
Other Adjustments	-	-27.94	-1.09	-274.78	-42.78	-4.52
Change in Receivables	-	7.16	-17.49	-7.04	-5.98	6
Changes in Inventories	-	0.65	-3.04	-	-	-
Changes in Accounts Payable	-	-4.74	-28.68	24.74	10.18	13.46
Changes in Accrued Expenses	-	177.39	-47.93	31.93	-18.04	329.8
Changes in Unearned Revenue	-	151.12	289.51	733.18	102.32	758.22
Changes in Other Operating Activities	-	-168.73	-45.97	-45.11	-129.51	-503.59
Operating Cash Flow	4,739	4,552	3,542	3,047	1,003	1,641
Operating Cash Flow Growth	30.20%	28.51%	16.26%	203.78%	-38.89%	314.58%
Capital Expenditures	-	-119.12	-856.05	-955.51	-340.12	-259.89
Sale of Property, Plant & Equipment	-	50.6	0.12	6.95	0.32	0.03
Purchases of Investments	-	-29,140	-16,513	-19,262	-5,213	-3,940
Proceeds from Sale of Investments	4,310	24,600	15,502	10,272	2,746	3,598
Cash Acquisitions	-	-	-150.22	-0.07	-9.93	-
Investing Cash Flow	-5,482	-4,608	-2,017	-9,939	-2,817	-601.86
Issuance of Common Stock	-	2,350	191.32	217.71	249.66	6,443
Repurchase of Common Stock	-	-142.8	-1,652	-71.84	-918.89	-11.58
Net Common Stock Issued (Repurchased)	-	2,208	-1,461	145.88	-669.23	6,431
Common Dividends Paid	-	-553.01	-	-562.9	-	-
Financing Cash Flow	1,381	1,655	-1,461	-417.02	-669.23	6,431
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-76.91	-46.84	15.07	29.79	892.84	-127.23
Net Cash Flow	561.4	1,552	80.13	-7,279	-1,590	7,344
Free Cash Flow	4,739	4,433	2,686	2,091	662.92	1,381
Free Cash Flow Growth	30.20%	65.02%	28.45%	215.50%	-52.01%	436.09%
FCF Margin	56.33%	53.62%	36.52%	35.14%	14.70%	32.44%
Free Cash Flow Per Share	10.08	9.56	5.91	4.63	1.45	5.22
Levered Free Cash Flow	3,374	3,587	1,579	1,316	19.48	-707.69
Unlevered Free Cash Flow	2,167	2,923	997.25	739.82	-206.49	-569.86

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