BOSS Zhipin Financial Report Infographic: Annual Revenue of 8.3 Billion, Recruitment Demand Rebounding, AI Accelerating Deployment

Question: Is the rebound in the recruitment market driven by AI technology?

Lei Di Network Lei Jianping, March 19

Zhaopin Limited (BOSS Zhipin, NASDAQ: BZ; Hong Kong Stock Exchange: 2076) announced its unaudited financial results for the quarter and full year ending December 31, 2025, yesterday. The financial report shows that BOSS Zhipin’s revenue for 2025 was 8.268 billion yuan ($1.182 billion), an increase of 12.4% compared to 7.356 billion yuan in 2024.

BOSS Zhipin’s operating profit for 2025 was 2.464 billion yuan ($352 million); adjusted operating profit was 3.376 billion yuan ($483 million), up 45.7% from 2.317 billion yuan in 2024.

Net profit for 2025 was 2.691 billion yuan ($385 million); adjusted net profit was 3.6 billion yuan ($515 million), an increase of 32.9% from 2.711 billion yuan in 2024.

Zhao Peng, founder, chairman, and CEO of BOSS Zhipin, stated: “In 2025, the company achieved steady, high-quality growth. The recruitment market showed a structural rebound throughout the year. While further penetrating the blue-collar sector, the development of emerging technologies like AI has driven growth and recovery in white-collar tech industry recruitment demand. The company has made progress in exploring cutting-edge AI technologies and deploying AI products, with its self-developed Nanjing-Beijing model once ranking first on HuggingFace’s text model trend list. In terms of products, the company enhances recommendation accuracy and user experience through AI capabilities while accelerating the commercialization of AI products.

“The company continues to increase shareholder returns, planning to allocate no less than 50% of the previous year’s adjusted net profit annually for stock repurchases and dividends over the next three years starting from 2026, with the repurchase limit raised to $400 million. This demonstrates the company’s confidence in long-term growth and its commitment to sharing the benefits of development with shareholders.”

BOSS Zhipin Q4 Revenue of 2.079 Billion Yuan, Up 14% Year-over-Year

BOSS Zhipin’s revenue for Q4 2025 was 2.079 billion yuan ($297 million), a 14% increase from 1.824 billion yuan in the same period last year.

Of this, online recruitment services for enterprise clients in Q4 2025 generated 2.067 billion yuan ($296 million), up 14.6% from the same quarter in 2024, mainly driven by growth in paying enterprise clients.

Other service revenue in Q4 2025 (primarily paid value-added services for job seekers) was 11.6 million yuan, down from 19.5 million yuan in the same quarter of 2024. The decrease was mainly due to optimization of certain value-added services. To improve the value experience for job seekers, the company streamlined related features to enhance platform stickiness and promote long-term ecosystem development.

BOSS Zhipin Q4 Costs and Expenses of 1.36 Billion Yuan, Down 6.6% Year-over-Year

Total costs and expenses for Q4 2025 were 1.36 billion yuan ($194 million), a 6.6% decrease from 1.456 billion yuan in the same quarter of 2024. Equity incentive expenses in Q4 2025 totaled 214 million yuan ($30.6 million), down 23.0% from 278 million yuan in the same quarter of 2024.

Operating costs in Q4 2025 were 309 million yuan ($44.2 million), a 1.5% decrease from 314 million yuan in Q4 2024, mainly due to reduced employee-related expenses offset by increased payment processing fees.

Marketing expenses in Q4 2025 were 389 million yuan ($55.6 million), down 8.8% from 426 million yuan in the same quarter of 2024, mainly due to lower employee-related costs offset by increased advertising and marketing expenses.

R&D expenses in Q4 2025 were 406 million yuan ($58.1 million), down 7.8% from 440 million yuan in Q4 2024, mainly due to decreased employee-related expenses offset by higher server depreciation costs.

General and administrative expenses in Q4 2025 were 256 million yuan ($36.6 million), down 7.1% from 276 million yuan in the same quarter of 2024, mainly due to lower employee-related expenses.

BOSS Zhipin Q4 Operating Profit of 686 Million Yuan, Up 80.2% Year-over-Year

Operating profit in Q4 2025 was 686 million yuan ($98.1 million), an increase of 80.2% from 381 million yuan in the same quarter of 2024.

Adjusted operating profit for Q4 2025 was 900 million yuan ($129 million), up 36.6% from 659 million yuan in the same quarter of 2024.

Income tax expense in Q4 2025 was 165 million yuan ($23.5 million), an 81.4% increase from 90.7 million yuan in Q4 2024, mainly due to higher pre-tax profits and a provision of 37.6 million yuan for tax top-up under the Pillar Two rules.

BOSS Zhipin Q4 Net Profit of 690 Million Yuan, Up 56% Year-over-Year

Net profit in Q4 2025 was 690 million yuan ($98.9 million), a 55.7% increase from 444 million yuan in the same quarter of 2024.

Adjusted net profit in Q4 2025 was 906 million yuan ($130 million), up 25.4% from 722 million yuan in the same quarter of 2024.

Net cash flow from operating activities in Q4 2025 was 1.324 billion yuan ($189 million), an increase of 38.4% from 956 million yuan in Q4 2024.

As of December 31, 2025, BOSS Zhipin held cash and cash equivalents, short-term deposits, and short-term investments totaling 19.945 billion yuan ($2.852 billion).

BOSS Zhipin expects total revenue for Q1 2026 to be between 2.05 billion yuan and 2.085 billion yuan, representing a year-over-year increase of 6.6% to 8.4%.