(Yicai) Nov. 15 -- Shares of Kanzhun, also known as Boss Zhipin, rose in New York after the Chinese online recruitment platform said its net profit doubled in the third quarter thanks to a recovery in the job market, especially in the blue-collar and lower-tier cities segments.

Boss Zhipin [NASDAQ: BZ] ended 5.2 percent higher in New York at USD15.81 apiece yesterday. Its Hong Kong-listed stock [HKG: 6623] was trading up 0.1 percent at HKD58 (USD7.43) as of 2.05 p.m. today.

Net profit was CNY425.7 million (USD58.3 million) in the three months ended Sept. 30, versus CNY211.7 million a year earlier, the Beijing-based firm said in an earnings report released yesterday. Revenue jumped 36 percent to CNY1.6 billion (USD220.2 million).

The number of Boss Zhipin's paid enterprise customers rose 32 percent to a record 4.9 million as of the end of September, while its average monthly active users surged 37 percent to 44.6 million.

"We are pleased to deliver a strong set of results for the third quarter of 2023, with revenue showing fast growth momentum while profitability remained robust," said Jonathan Zhao, founder, chairman, and chief executive of Boss Zhipin. "It is encouraging that recruitment demand continued to improve this quarter, as evidenced by the sequential growth in average monthly active enterprises and enterprise users.

"Backed by our continuously increased operating cash flow, we are delighted to announce that the board of directors has approved a special cash dividend of approximately USD80 million, showcasing our enduring commitment to providing sustainable value to our shareholders," Zhao added.

The blue-collar segment leads the growth in the number of jobs and active job seekers, Boss Zhipin said at an earnings conference call. Active job seekers in the manufacturing sector from Dongguan, Suzhou, Foshan, and other traditional manufacturing Chinese cities are among the leaders on the platform.

From the recruitment side, the number of positions in the services industry grew the fastest, making up a larger share since the start of this year. Waiters, shop assistants, and salespeople positions, and supply chain logistics posts such as couriers increased significantly.

Regarding industries, the number of job postings in consumer goods, automotive aftermarket, new energy, and internet life services soared last quarter from the second quarter.

The number of jobs and job seekers from second- and lower-tier cities, including Anyang in Henan province, Changzhi in Shanxi province, Xiaogan in Hubei province, and Baoji in Shaanxi province, also kept surging in the third quarter.

Editor: Martin Kadiev