In the world of finance, where fortunes rise and fall like the tides of an indifferent ocean, Serenity Capital Management-a firm based in Singapore-has made a bold move. They recently revealed they’ve acquired an additional million shares of Kanzhun Limited, a company teetering on the edge of its own highs and lows, for a total investment of around $45.6 million. The filing with the SEC was dated November 13. A date that will live in… well, it will be remembered by someone.
The State of Affairs
According to financial documents, Serenity has now amassed 5 million shares of Kanzhun, which, in their twisted little world, is valued at $117.6 million. This represents nearly 30% of Serenity’s total assets under management, a number that hovers around $394 million. An impressive feat, if one is a fan of high-risk wagers.
The Whys and Wherefores
Kanzhun’s stock, listed as BZ, is not exactly Hollywood material. It has seen better days, with current valuations still hanging 50% below its 2021 highs. Yet, Serenity’s hefty stake indicates they believe in a turnaround-a belief that can either be visionary or delusional. Only time will tell, and isn’t that the beauty of capitalism?
As of the last Friday, the stock was priced at $21.09, showing a 54% increase over the past year, far outstripping the S&P 500’s modest 16% gain. Perhaps the market is waking up from its slumber, or perhaps it’s just the caffeine kicking in.
The Company in Question
| Metric | Value |
|---|---|
| Market Capitalization | $9.8 billion |
| Revenue (TTM) | $8 billion |
| Net Income (TTM) | $2.5 billion |
| Price (as of Friday) | $21.09 |
The Snapshot of Reality
- Kanzhun Limited runs BOSS Zhipin, an online recruitment hub that connects job seekers with employers. It makes its money off services that help people find jobs-an admirable goal, if somewhat Sisyphean in today’s market.
- Its operations are aimed at businesses of all sizes across China, echoing the eternal chase for the perfect fit-much like dating apps but with fewer awkward conversations.
- With a workforce of over 5,000, the company resides in Beijing, providing essential services in the employment sector.
Kanzhun leverages technology to navigate China’s crowded labor market, using data-driven methods to match employers with candidates. Sounds efficient, doesn’t it? But then again, efficiency is just another word for “we hope this works.”
A Foolish Perspective
After a regulatory shockwave rattled the foundations of education, tech, and employment sectors in China, many investors retreated like frightened rabbits. Serenity’s latest acquisition suggests a belief that the hiring market is stabilizing-not just a fleeting moment of joy amidst chaos. Or maybe they just have very deep pockets and a taste for risk.
Their portfolio looks like a themed buffet of Chinese companies tied to consumption, logistics, education, and employment. This suggests a bet on the revival of domestic demand rather than a one-time fling. To put almost 30% of their assets in one basket speaks volumes about their confidence-or lack thereof.
The numbers tell a story of improvement. Last quarter, revenue jumped 13% to around $304 million, buoyed by an uptick in both paying enterprise customers and active users. Operating income more than doubled, while net income soared over 65%. Yet, the stock remains far below its IPO highs. It appears the market is slowly waking from its stupor, but is it a genuine revival or simply wishful thinking? A gamble on earnings potential rather than nostalgia, perhaps.
Definitions for the Curious
Assets Under Management (AUM): The total market value of investments managed for clients by a fund.
13F Reportable Assets: U.S. equity securities that institutional investment managers must report quarterly to the SEC.
Net Position Change: The difference in the number or value of shares held after a transaction.
Quarter-End: The final day of a fiscal quarter, significant for financial reporting.
Outperforming the S&P 500: Achieving a return greater than that of the S&P 500 index.
Filing: An official document submitted to a regulatory authority, disclosing important financial information.
TTM: The 12-month period ending with the most recent quarterly report.
So it goes.
😏
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2025-12-20 00:28