Kanzhun: A 'Buy' On Profitability Surprise And Attractive Yield

I maintain a 'Buy' rating for Kanzhun, following my assessment of its quarterly performance and future cash distributions. The company achieved a 37% YoY operating profit increase for 4Q2025, thanks to its expansion in the lower-tier city and small enterprise segments. Management's new shareholder return target commits to distributing at least 50% of forward earnings, which implies a potential 4.7% yield.