Why This $18 Million Sale Might Signal a Shift as a China Tech Bet Falls 34%

2 hours ago 2

Jonathan Ponciano, The Motley Fool

Sat, March 21, 2026 astatine 6:25 PM CDT 4 min read

RWC Asset Advisors (US) LLC disclosed a merchantability of 834,689 shares of Kanzhun Limited (NASDAQ:BZ) successful its February 17, 2026, SEC filing, an estimated $18.03 cardinal commercialized based connected quarterly mean pricing.

According to an SEC filing dated February 17, 2026, RWC Asset Advisors (US) LLC reduced its holdings successful Kanzhun Limited by 834,689 shares during the last 4th of 2025. The estimated transaction value, based connected the period’s mean closing price, was $18.03 million. The quarter-end worth of the Kanzhun Limited presumption dropped by $24.00 million, a fig that includes some the effect of stock income and marketplace terms changes.

This merchantability enactment lowered the Kanzhun Limited involvement to 5.83% of RWC Asset Advisors (US) LLC’s 13F reportable AUM, down from 8.96% successful the erstwhile quarter.
Top holdings aft the filing:
- NYSE:SQM: $100.64 cardinal (19.1% of AUM)
- NYSE:VALE: $85.00 cardinal (16.1% of AUM)
- NYSE:EMBJ: $79.76 cardinal (15.1% of AUM)
- NYSE:GFI: $75.57 cardinal (14.3% of AUM)
- NYSE:BABA: $66.01 cardinal (12.5% of AUM)
As of Friday, Kanzhun Limited shares were priced astatine $13.63, down 34% implicit the past twelvemonth and good underperforming the S&P 500, which is alternatively up 15% successful the aforesaid period.

Metric

Value

Price (as of Friday)	$13.63
Market Capitalization	$6 billion
Revenue (TTM)	$1.16 billion
Net Income (TTM)	$360.59 million

Kanzhun Limited operates BOSS Zhipin, an online recruitment level connecting occupation seekers and employers successful China, generating gross chiefly from recruitment services and value-added offerings.
The steadfast monetizes done work fees paid by enterprises and corporations for entree to candidates and recruitment tools, leveraging a integer level model.
It targets businesses of each sizes and idiosyncratic occupation seekers crossed the Chinese labour market, with a absorption connected businesslike matching and nonstop communication.

Kanzhun Limited is simply a starring supplier of online recruitment solutions successful China, leveraging its BOSS Zhipin level to facilitate nonstop connections betwixt occupation seekers and employers.

This is the benignant of determination that forces you to abstracted concern show from banal performance. On paper, the institution is executing well. Revenue deed astir $1.18 cardinal for the afloat year, portion nett income climbed to astir $385 million, up a steep 72% twelvemonth implicit year, with wide operating leverage showing through.

However, with shares down 34% implicit the past year, the merchantability signals a willingness to measurement backmost from a sanction that, portion profitable and growing, inactive sits squarely successful a tougher macro and geopolitical bucket, and that’s been existent for galore Chinese firms this past year.

This portfolio leans heavy into commodities and emerging marketplace vulnerability done names similar SQM and Vale, with large, concentrated positions. Against that backdrop, trimming a China-based level concern to astir 6% of AUM looks little similar a verdict connected fundamentals and much similar hazard management. Ultimately, until sentiment astir China tech stabilizes, Kanzhun’s valuation whitethorn enactment disconnected from its performance.

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