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Kanzhun

Today’s Key News Recap

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0520 | Dolphin Research Focus: 🐬 Stock pick 1: $BABA-W(09988.HK) unveiled its in-house AI chip 'Zhenwu' M890 at the recent Alibaba Cloud Summit, offering 3x the prior-gen performance and 144GB of VRAM. It also introduced a 128-card ultra-node server and plans to roll out V900 in 2027.This high-spec, self-developed compute chip is a major step by a domestic internet platform toward autonomy at the compute infrastructure layer. It should materially reduce reliance on overseas high-end chips for enterprise-grade compute workloads...

Alphabet - C

Alphabet

NVIDIA

Marvell Tech

Hesai

HESAI-W

BOSS ZHIPIN-W

BABA-W

BABA-WR

Alibaba HK SDR 5to1

Alibaba

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Bilibili

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NIO Inc. USD OV

NIO Inc

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Tencent Holdings Limited

NVIDIA Corporation

BABA launches in-house AI chip 'Zhenwu M890'; NVDA invests $2 bn in MRVL | Daily News Recap

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0317 | Dolphin Research Focus: 🐬 Stock #1, $NVIDIA(NVDA.US) — NVIDIA's GTC 2026 officially kicked off, and founder &amp; CEO Jensen Huang delivered the keynote.He announced a Vera Rubin Space Module under the next-gen Vera Rubin architecture, designed for orbital data centers, delivering 25x performance vs. H100.He also unveiled a partnership with Groq to co-develop new LPU chips...

MediaAlpha

Vera Therapeutics

Meta Platforms

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Maase 

Apple

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Apple Group

NVDA GTC in focus; Alibaba 'Token strategy' ramps up | Daily News Recap

美图公司

Deep Research

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In the prior piece, Dolphin Research reviewed Meitu's history, product suite, and competitive landscape in depth. This follow-up focuses on Meitu's growth potential.1) Will large models eat Meitu's lunch? To evaluate its growth, we must ask how vertical platforms defend against general-purpose platforms.As seen across internet cycles, a few lucky players evolved into 'small but mighty' vertical champions. Tencent Music, Kanzhun, and even Bilibili endure thanks to distinctive attributes. Most others faded into the background, becoming stepping stones as tech giants broadened their ecosystems...

MEITU

TME-SW

Tencent Music

WHEE

Meitu: A bumpy 'small‑but‑beautiful' story — where is the bottom?

Conference Minutes

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The following are the minutes of the Boss FY25Q3 earnings call organized by Dolphin Research. For an interpretation of the earnings report, please refer to 'BOSS Zhipin: Not Surprising, but Still Strong'.1. Review of Core Financial DataPerformance Overview:Revenue: Total revenue for the third quarter was RMB 2.16 billion, an increase of 13.3% year-on-year.Profit: According to US GAAP, net profit was RMB 780 million, an increase of 67.2% year-on-year, with a net profit margin of 35.8%; adjusted operating profit increased by 49.3% year-on-year...

Global X Interest Rate Hedge ETF

BOSS Zhipin (Minutes): Customer Renewal Rebounds, Growth Rate Bottoms Out and Recovers

Financial Analysis

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$BOSS ZHIPIN-W(02076.HK) $Kanzhun(BZ.US) Q3 financial report has been released, and the overall performance basically met expectations. It is still the same BOSS—despite still facing pressure, the company's ability to outperform Beta is still evident. Specifically: 1. Billings showed signs of recovery: Q3 billings increased by 14% year-on-year, showing a significant recovery compared to the previous quarter. Although this was within expectations and last year's base was low, it is commendable to withstand the pressure in a relatively high-pressure environment...

SBC Medical

Beta Tech

HUGO BOSS AG

Barrick Mining

SBC MEDICAL GROUP HOLDINGS INCRPRTD C/WTS 17/09/2029 (TO PUR COM)

Boss Zhipin: Not Surprising, but Still Strong

Kanzhun 3Q25 Quick Interpretation: The recruitment giant Kanzhun's third-quarter performance overall met expectations, although it may lack surprises compared to previous periods. Despite significant external pressures, the company's number of corporate clients continues to grow, user mindshare remains leading, and internal efficiency improvements have led to a sustained trend of improving profitability. 1. Billings expected to rebound: Third-quarter billings increased by 14% year-on-year, showing a significant rebound compared to the previous quarter. Although this was within expectations, last year's base was also low. Given the relatively high-pressure environment, maintaining resilience is commendable. 2. Revenue guidance is moderate: The company's revenue guidance for the fourth quarter implies a growth rate in the range of 12.4% to 13.5%, with a slight sequential improvement, driven by a decrease in the base, which aligns with market expectations. 3. Net increase in B-end clients: The growth in billings mainly stems from a stable net increase in the number of clients. In the third quarter, paid corporate clients saw a net increase of 300,000, higher than the previous quarter. However, the calculated average revenue per client declined year-on-year, and combined with Sensor Tower's tracking data on iOS (19% year-on-year growth), we speculate that the increase mainly comes from small and medium-sized enterprises. 4. C-end monthly active users continue to grow: Overall monthly active users reached 63.8 million, with a net increase of 3.2 million sequentially, slightly below expectations. However, within the industry, BOSS Zhipin's user scale share continues to rise. 5. Maintaining cost control and efficiency improvement: The final core operating profit was 690 million, exceeding the market expectation of 610 million, with a profit margin of 32%, up 1 percentage point sequentially. As in the previous two quarters, this mainly resulted from a significant decline in sales and R&amp;D expenses. This strict cost control trend is the main theme of BOSS Zhipin's internal operations this year. $Kanzhun(BZ.US) $BOSS ZHIPIN-W(02076.HK)

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1118 | Dolphin Research Focus: 🐬 Macro 1. Today, both Hong Kong and A-shares collectively declined as the market's expectation for a December rate cut by the Federal Reserve continued to decrease. According to CME's &#34;FedWatch&#34;, the probability of a 25 basis point rate cut by the Federal Reserve in December has dropped to 42.9%, previously exceeding 70%. Federal Reserve Governor Waller also stated that if the job market rebounds, the necessity for an insurance rate cut will diminish. Additionally, the sell-off pressure on tech stocks and the Japanese bond market faced a sell-off wave due to concerns that the Kishida government will implement a large-scale fiscal expansion plan. Under multiple factors, global markets collectively declined...

Luckin Coffee

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

XIAOMI-W

KUAISHOU-W

XPENG-W

BIDU-SW

TRIP.COM-S

XIAOMI-WR

Xiaomi Corporation

KUAISHOU-WR

XPeng

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Xiaomi HK SDR 2to1

Baidu HK SDR 10to1

Baidu

Trip.com HK SDR 50to1

Trip.com

Global Markets Hit by 'Cold Wave'; Google AI Advances in Travel Services Track | Today's Important News Recap

The following are the minutes of the FY25Q2 earnings call for $Kanzhun(BZ.US) organized by Dolphin Research. For earnings interpretation, please refer to &#34;BOSS Zhipin: The environment remains volatile, but the essence of being small and beautiful remains unchanged.&#34; 1. Review of Core Financial Information a. Growth Drivers: a. The number of paying corporate clients reached 6.5 million in the 12 months ending June 30, representing a year-on-year growth of 10%. b. Willingness to Pay: The recruitment market is recovering, and corporate willingness to pay is increasing, especially the demand recovery from small and medium-sized enterprises (SMEs) is more pronounced, with their revenue contribution increasing quarter-on-quarter...

Kanzhun (Minutes): Recruitment demand on the platform has recovered

$Kanzhun(BZ.US) Q2 report has been released. Although the performance is not perfect, the flaws do not overshadow the merits. It once again proves that in a headwind environment, a reliable and small yet beautiful team will increasingly highlight its competitive advantages. Specifically: 1. User share continues to rise: In the second quarter, platform users increased by 3 million quarter-on-quarter, reaching 60.6 million. At the same time, sales expenses for promotion increased by 10% year-on-year, returning to normal levels. However, due to significant optimization of sales personnel, overall marketing expenses still fell by 23% year-on-year. Compared to absolute values, Dolphin Research pays more attention to market share...

Kanzhun: The environment remains volatile, but the essence of being small and exquisite remains unchanged.

BZ 2Q25 Quick Interpretation: The Q2 performance had both positives and negatives. The positives include profit exceeding expectations, dividends, and a new buyback plan, while the negatives are weaker cash flow and Q3 revenue guidance that is essentially inline. According to Dolphin Research, this mixed result reflects the current situation of 'high environmental pressure' and 'BOSS Zhipin having more relative advantages.' 1. Has the cash flow recovery trend halted?: Although Q2 revenue met expectations, cash flow was less than 2.1 billion, with a year-on-year growth of only 5.7%, which is not only below expectations but also seems to contradict the company's guidance of 'bottoming out in Q4 last year and recovering quarter by quarter.' Dolphin Research believes that the misalignment of the spring recruitment due to the difference in the timing of the Spring Festival (earlier in 2025 than in 2024) might be one factor. Additionally, the impact of tariffs in April might have had a delayed reaction (in May, the company believed tariffs had no impact on foreign trade enterprise recruitment). It is recommended to pay attention to related statements in the conference call. 2. Guidance is also mediocre?: The company's guidance for Q3 total revenue is 2.13-2.16 billion, implying a growth rate of 11-13%, which is basically in line with expectations, but the improvement trend between quarters (Q3 compared to Q2) is not as apparent as the market expected. Dolphin Research believes that, combined with Sensor Tower data (significant year-on-year growth in cash flow in June and July), BOSS Zhipin's guidance leaves room for maneuver, which aligns with the management's consistently cautious and conservative style. 3. User growth not fast enough?: The overall MAU in Q2 exceeded 60 million, but the market seemed to expect more. However, Dolphin Research believes this is not a major issue. Compared to absolute values, we focus more on market share. According to Questmobile data, BOSS Zhipin's user share continues to increase. Since May, Yupaopao Recruitment, characterized by direct phone chats and targeting the blue-collar market, has increased advertising in first- and second-tier markets, striving to penetrate the white-collar market. Dolphin Research believes there is no need to worry too much for now. Whether in terms of recommendation algorithms or the completeness and matching degree of the supply and demand ecosystem in the white-collar industry, Yupaopao poses little competitive threat to BOSS Zhipin. 4. Profit exceeded expectations: The main highlight of Q2 is the profit. The operating profit of the core business was 650 million, with the profit margin rapidly increasing to 31%, an 8 percentage point increase quarter-on-quarter, significantly higher than the market consensus. The essence behind this is: 1) Reflecting BOSS Zhipin's economies of scale, with improved gross margin and reduced R&amp;D expense ratio;2) Reflecting BOSS Zhipin's competitive advantage, with a reduced sales expense ratio.3) Reflecting BOSS Zhipin's internal management efficiency, with SBC down 24% year-on-year. 5. Annual dividend and new buyback: The advantage of the business model is manifested in the increasing cash on the books, reaching 2.2 billion USD by the end of Q2 (including short-term deposits and investments). This time, an annual dividend plan is initiated, with 80 million USD (0.168 USD/ADS) to be distributed in October, and last year's approved buyback is extended by one year to August 2026, with a buyback not exceeding 250 million USD during this period. $Kanzhun(BZ.US) $BOSS ZHIPIN-W(02076.HK)

Kanzhun to release FY2026 Q1 earnings report on May 20, Pre-Market EST, with forecast revenue of USD 302.76 M and EPS of USD 0.1161

BOSS Zhipin-W repurchased 347,700 shares for $2.4965 million

BOSS Zhipin repurchases shares, investing over 100 million yuan to demonstrate commitment to shareholder value

BOSS Zhipin Announces Repurchase of 349,516 Ordinary Shares

BOSS Zhipin-W Announces Repurchasing of $3.9941 Million Shares

BOSS Zhipin Reports Strong Earnings but Faces Multiple Risks

BOSS Zhipin Continues Share Repurchase with Total Amount Approaching 700 Million RMB

BOSS Zhipin-W repurchased 748,000 shares for about 5 million USD

Zhipin has cumulatively repurchased shares worth over 576 million yuan in 2026

Guotai Junan Maintains 'Buy' Rating on BOSS Zhipin Shares and Sets Price Target

BOSS Zhipin-W Repurchased 759,100 Shares for About $5 Million

BOSS Zhipin-W repurchased stocks worth $3.4187 million

KANZHUN LIMITED spent about 34.4 million yuan to repurchase 748,552 ordinary shares

BOSS Zhipin-W repurchased 733,900 shares

Nomura Raises BOSS Zhipin's Earnings Forecast and Reiterates Buy Rating

BOSS Zhipin's Net Profit Hits Historical Peak

CMBI: BOSS Zhipin's 2025 Performance Meets Expectations, Maintains Buy Rating

Kanzhun released FY2025 Q4 earnings on March 18 Pre-Market (EST), actual revenue USD 297.1 M (forecast USD 294.71 M), actual EPS USD 0.2086 (forecast USD 0.1877)

Kanzhun released FY2025 earnings on March 18 Pre-Market (EST), actual revenue USD 1.159 B (forecast USD 1.18 B), actual EPS USD 0.8269 (forecast USD 0.8346)

BOSS Zhipin Exceeds Expectations with Q4 and Full Year 2025 Financial Results

InMed Pharmaceuticals

AMPLITECH GROUP INC. USD0.001 S/R 20/11/26 SER B

Amesite

CN Energy

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

NextNRG

Meiwu Tech

Generation Income Properties

MetaVia

OceanPal

Earning Release Date

财报预告

FY2026 Q1 Earning Release Today 2026.05.20 (EST) Pre-Market

Kanzhun Limited (BZ.US, 02076.HK) Q1 2026 Earnings Conference Call

Kanzhun Limited (BZ.US, 02076.HK) Q4 2025 Earnings Conference Call

Kanzhun Limited (BZ.US, 02076.HK) Q3 2025 Earnings Conference Call

Kanzhun Limited (BZ.US, 02076.HK) Q2 2025 Earnings Conference Call

Kanzhun Limited (BZ.US, 02076.HK) Q1 2025 Earnings Conference Call

Kanzhun Limited (BZ.US, 02076.HK) Q4 2024 Earnings Conference Call

Kanzhun Limited (BZ.US) Q3 2024 Earnings Conference Call

Kanzhun Ltd reported stable share capital of 840,422,467 Class A shares on the Hong Kong Stock Exchange as of May 12, 2026. The company conducted on-market repurchases of Class A shares from March 20 to May 12, 2026, totaling 704,636 shares for cancellation, aimed at reducing free-float shares and enhancing earnings per share. All transactions complied with Hong Kong listing rules. Analysts rate BZ stock as a Buy with a $19.00 price target, reflecting strong financial performance despite neutral technical momentum.

Tip Ranks

Kanzhun Details March–May 2026 Share Buybacks and Stable Share Capital

Kanzhun Ltd. has disclosed a share repurchase of 353,854 Class A ordinary shares at a price of USD 7.14 per share, executed on May 8, 2026, on the Nasdaq Global Select Market at an average price of USD 7.06 per share. The information was published via the Hong Kong Stock Exchange on May 11, 2026.

PUBT

Kanzhun files HKEX return disclosing share repurchase at USD 7.14 per share

Ativo Capital Management LLC has invested $2.33 million in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ), acquiring 114,420 shares, making it the firm's 9th largest holding. Other institutional investors, including Oppenheimer and UBS, have also increased their stakes. Analysts have mixed ratings on KANZHUN, with an average target price of $23.00. CEO Peng Jonathan Zhao sold 64,000 shares recently, reducing his stake by 10%. KANZHUN operates an AI-driven recruitment platform, aiming to enhance the hiring process.

Market Beat

Oppenheimer

UBS Group AG

OCBC Bank

Barclays

Ativo Capital Management LLC Makes New $2.33 Million Investment in KANZHUN LIMITED Sponsored ADR $BZ

KANZHUN LIMITED Releases 2025 Environmental, Social and Governance Report | BZ Stock News

StockTitan

KANZHUN LIMITED Releases 2025 Environmental, Social and Governance Report | BZ Stock News

CWEB

KANZHUN LIMITED Files Its Annual Report on Form 20-F | BZ Stock News

Direxion CSI China Internet Index Bull 2X

KANZHUN LIMITED Files Its Annual Report on Form 20-F | BZ Stock News

Kanzhun(BZ.US)

BABA launches in-house AI chip 'Zhenwu M890'; NVDA invests $2 bn in MRVL | Daily News Recap

Kanzhun Details March–May 2026 Share Buybacks and Stable Share Capital

Kanzhun files HKEX return disclosing share repurchase at USD 7.14 per share

Ativo Capital Management LLC Makes New $2.33 Million Investment in KANZHUN LIMITED Sponsored ADR $BZ

KANZHUN LIMITED Releases 2025 Environmental, Social and Governance Report | BZ Stock News

KANZHUN LIMITED Files Its Annual Report on Form 20-F | BZ Stock News

Kanzhun Ltd. Class A (2076) Receives a Buy from Global Prosperity

Kanzhun Details March–April 2026 Buybacks With No Change in Total Issued Shares

BOSS Zhipin's Ongoing Share Repurchases Cross the RMB1 Billion Mark in 2026 | BZ Stock News

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