Macquarie issued a Research Report indicating that Kanzhun's performance in the third quarter was robust, with revenue meeting expectations. The adjusted Net income exceeded market expectations by 9%, and the bullish momentum of user growth remains strong, with the year-on-year growth rate of average monthly active users increasing from 25.2% last season to 30%.

Looking ahead to next year, management expects that due to improvements in the macroeconomic environment, the number of job seeker users will increase by at least 15%, with corporate users also expected to record a year-on-year increase. It is believed that the imbalance between job seekers and companies will be alleviated. Macquarie pointed out that management reiterated the importance of profitability during the conference call, which suggests that the company will continue to adopt a prudent approach to expenditures.

Macquarie raised its adjusted earnings per share forecasts for Kanzhun for the next two years by 6% and 3%, respectively. Based on a predicted PE of approximately 20 times for 2025, the Target Price for US stocks was raised from $17.5 to $18.2.