Beijing Huapin Borui Network Technology(北京华品博睿)

Fast facts

Year Founded
2008
HQ Location
Beijing, China
Publicly Traded?
No
Overseas Operations
No
US Sanctions
No
Military Affiliation in China
No

Revenue

USD 298.0 M

Valuation

USD 12.6 B
*Valuation is reported as enterprise value.

Employees

3,388

Established in 2008, Kanzhun provides online recruitment services, now through its main platform Boss Zhipin (BOSS直聘), which was launched in 2014. Connecting job seekers with employers, Kanzhun claims to be China’s largest online recruiting platform with nearly 25 million monthly active users.

“Efficiency” is a key part of Kanzhun’s positioning: Its website states its company goals are that “more companies will value employee experience, more companies will optimize employee relations, and more companies will inevitably improve recruitment efficiency.”

On June 11, 2021, Kanzhun was listed on NASDAQ, raising $912 million and seeing its shares rise 96% during its debut. But less than a month later, China initiated its data security regulatory crackdown against Didi Chuxing and then other Chinese technology firms that had been listed in the U.S., including Kanzhun. The probe is ongoing and Kanzhun is cooperating.

  • Zhao Peng (赵鹏), Chairman and Chief Executive Officer
  • Xu Xin (徐新), Director
  • Yu Haiyang (于海洋), Director
  • Zhang Yu (张宇), Director and Chief Financial Officer
  • Chen Xu (陈旭), Director and Chief Marketing Officer
  • Zhang Tao (张涛), Director and Chief Technology Officer
  • Yang Zhaoxuan (Charles) (杨昭烜), Independent Director
  • Sun Yonggang (孙永刚), Independent Director

Beijing Huapin Borui Network Technology Sanctions

While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.

Beijing Huapin Borui Network Technology Reputational Disclosures

On July 6, 2021, China’s Cybersecurity Regulator (CAC) announced a “data security” investigation into Kanzhun after its IPO a month earlier “aimed at preventing national data-security risks, maintaining national security and protecting public interests.” Kanzhun announced that it would cooperate with the investigation.
Kanzhun’s stock price did not suffer quite as much as some of the other Chinese companies caught in the regulatory crackdown. At the end of July 2021, its share price was down just over 14% from its peak but still up over 80% from the IPO price (Kanzhun had an outstanding debut when its share price rose 96% on the first day).
On November 24, 2020, it was reported that Boss Zhipin, Kanzhun’s recruitment platform, had numerous “recruiters” that were actually soliciting sexual favors via the app.
On August 3, 2017, it was reported that a man in his mid-twenties named Li Wenxiang had been discovered dead after being lured into a multi-level marketing (MLM) company on Boss Zhipin. China’s MLM organizations are known to become violent, particularly when a deceived member attempts to escape.