Buyout Group Slashes Offer for 51Job, Others to Follow?

Human resources stalwart announces new privatization bid at $57.25 per ADS, down sharply from previous offer of $79.05 Key Takeaways: A buyout group attempting to privatize 51Job has slashed its offer by 28% in light of economic and regulatory challenges Other companies in the process of similar privatizations, such as So-Young, iClick and Fanhua, could follow with similar reduced offers By Doug Young Brother, can you spare $22? That variation to the famous line from the Great Depression-era song could well be the latest mantra from online human resources stalwart…

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FAST NEWS: Job Specialist Kanzhun’s Revenue Doubles as Paying Corporates Soars

The latest: Online jobs specialist Kanzhun Ltd.(BZ.US), best known in China for its Boss Zhipin service, announced its revenue grew by 105.4% year-on-year in the third quarter to 1.2 billion yuan ($189 million), while its net profit rose by 7.5 times to 286 million yuan. Looking up: Revenue from Kanzhun’s core online recruitment services doubled year-on-year to 1.197 billion yuan as paying corporate customers increased by 110.5% to 4 million. Its much smaller paid value-added services for job seekers also increased 2.1 times to 14.6 million yuan. Take Note: The company previously…

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Employment Specialist Kanzhun Shows It’s Down, But Not Out, With First-Ever Profit

Company posts 174% revenue jump in second quarter, but warns an ongoing cybersecurity review is likely to continue through at least the end of September Key takeaways: Kanzhun has posted its first-ever quarterly profit, fueled by a 174% jump in revenue Company warns that a cybersecurity review and concurrent freeze on new user signups is affecting its business, and could last through at least the end of September By Doug Young The maiden quarterly earnings report from leading online jobs specialist Kanzhun Ltd. (BZ.US), best known in China for its…

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Adult Educator Jianzhi Defies Regulatory Storm With IPO Application

Profitable provider of educational content to universities and libraries files for New York listing to raise $50 million Key points: Jianzhi is different from most education companies to recently list due to its focus on adult education and the fact that it’s profitable Company could be valued in the $600 million to $800 million range due to its profitability and relatively low regulatory risk By Doug Young “Brave” is the first word that comes to mind to describe a newly filed IPO application from Jianzhi Education Technology Group Co. Ltd.…

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Medical Data Collector LinkDoc Could Face Cash Crunch After IPO Withdrawal

Oncology-focused information provider’s 12-month operating plan had included $200 million in IPO funds that it will no longer have Key points:  LinkDoc has indefinitely shelved its $211 million IPO, with no word on when or if it will eventually proceed Company had estimated IPO funds, combined with current cash and cash flow, would be enough to meet its needs for at least 12 months By Richard Barbarossa Chinese oncology-focused medical data firm LinkDoc Technology Ltd., which is backed by e-commerce giant Alibaba, was looking forward to marking a major milestone…

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China Shows Full Truck Alliance, Kanzhun Who’s Boss

Cyberspace authority’s probes into newly listed internet companies is aimed at making them think twice about U.S. IPOs     Key points: A new series of government cybersecurity probes is aimed at Chinese internet companies that have recently listed in the U.S. The probes are designed to make such companies think twice about making U.S. IPOs, but not to halt them By Doug Young Today we’ll take a deep dive into the subject everyone in China’s corporate realm is talking about, namely the newly announced government probes into logistics company Full…

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Employment Bigshot Kanzhun Eyes China’s Blue-Collar Workers as Shares Soar in IPO

Company looks for success as a publicly traded jobs specialist despite lackluster performance for other listed peers Key points: Job matcher Kanzhun gets seal of approval from investors as stock soars on New York trading debut Company will need to leverage expertise to move into related areas or risk ending up like slow-growth listed peers By Ben Livesey The future of China’s post-pandemic economy may be clouded by mixed signals on growth, demand and supply, jobs and inflation. But that’s just fine with Kanzhun Ltd. (Nasdaq: BZ), an online recruitment…

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