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424B31tm2227102-6_424b3.htm424B3 TABLEOFCONTENTS PROSPECTUSSUPPLEMENT (ToProspectusdatedDecember16,2022) FiledPursuanttoRule424(b)(3) RegistrationNo.333-268834 KANZHUNLIMITED ClassAOrdinaryShares ImageFrameInvestment(HK)Limitedislendingtocertaindesignateddealersupto18,019,352ofourClassAordinaryshares,US$0.0001pershare,orapproximately2.5%ofourtotalClassAordinarysharesissuedandoutstandingimmediatelyuponListing(asdefinedbelow)(assumingnoadditionalsharesareissuedunderourshareincentiveplansbeforelistingandexcludingtheClassAordinarysharesissuedtotheDepositaryforbulkissuanceofADSsreservedforfutureissuanceupontheexerciseorvestingofawardsgrantedunderourshareincentiveplans),ononeormoreoccasions,tofacilitatetheproposedlistingofourClassAordinarysharesontheMainBoardofTheStockExchangeofHongKongLimited,ortheHongKongStockExchange,bywayofintroduction,ortheListing.OurClassAordinaryshareswillbetradedontheHongKongStockExchangeunderthestockcode“2076.” TheClassAordinarysharesbeinglentherebywillbeusedbythedesignateddealerstocreateadditionalliquidityofourClassAordinarysharesontheHongKongStockExchangethroughsalesatmarketpricesontheHongKongStockExchangeduringa30-calendar-dayperiodcommencingonthelistingdateofourClassAordinarysharesontheHongKongStockExchange,whichisexpectedtobeonoraboutDecember22,2022.See“DescriptionofLiquidityArrangements.”WeareregisteringtheClassAordinarysharesbeingregisteredherebyinconnectionwiththesaleofsuchsharestotheextentthattheyaresoldtoU.S.persons,asdefinedunderRegulationS,orfortheaccountorbenefitofU.S.persons. NeitherwenorImageFrameInvestment(HK)LimitedwillreceiveanyproceedsfromthelendingoftheClassAordinarysharesbeingregisteredhereby,whichwillbesoldatprevailingmarketpricesatthetimeofsaleinliquiditytradesontheHongKongStockExchangeduringtheliquidityperiodwithdeliveryexpectedtooccurfromtimetotimeinaccordancewiththerulesoftheHongKongStockExchange. OurAmericandepositaryshares,ortheADSs,arelistedontheNasdaqGlobalSelectMarketunderthesymbol“BZ.”EachADSrepresentstwoClassAordinaryshares.OnDecember15,2022,thelastreportedsalepriceoftheADSsontheNasdaqGlobalSelectMarketwasUS$19.35perADS. Investinginoursecuritiesinvolvesrisks.See“RiskFactors”beginningonpageS-27ofthisprospectussupplementandinanydocumentsincorporatedbyreferenceintothisprospectussupplementforadiscussionofcertainrisksthatshouldbeconsideredinconnectionwithaninvestmentinourClassAordinaryshares. KANZHUNLIMITEDisnotaChineseoperatingcompany,butratheraCaymanIslandsholdingcompanywithnoequityownershipinBeijingHuapinBoruiNetworkTechnologyCo.,Ltd.,ortheVIE.OurCaymanIslandsholdingcompanydoesnotconductbusinessoperationsdirectly.WeconductouroperationsinChinaprimarilythrough(i)ourPRCsubsidiariesand(ii)theVIEwithwhichwehavemaintainedcontractualarrangementsanditssubsidiariesinChina.PRClawsand regulationsimposecertainrestrictionsorprohibitionsonforeignownershipofcompaniesthatengageincertainvalue-addedtelecommunicationservices,internetaudio-videoprogramservices,radioandtelevisionprogramservicesandcertainotherbusinesses.Accordingly,weoperatethesebusinessesinChinathroughtheVIEanditssubsidiaries.TheVIEisconsolidatedforaccountingpurposes,butisnotanentityinwhichourCaymanIslandsholdingcompany,orourinvestors,ownequity.AllofourrevenuesfortheyearsendedDecember31,2019,2020and2021werecontributedbytheVIE.Asusedinthisprospectussupplement,“we,”“us,”“ourcompany,”“our,”or“Kanzhun”referstoKANZHUNLIMITED,itssubsidiaries,and,inthecontextofdescribingouroperationsandconsolidatedfinancialinformation,theVIEinChina.InvestorsinourADSsarepurchasingequityinterestinaholdingcompanyincorporatedintheCaymanIslandsratherthanequityinterestintheVIEinChina.ThisVIEstructureinvolvesuniqueriskstoinvestors,andinvestorsmayneverdirectlyholdequityinterestsintheChineseoperatingcompaniessuchastheVIE. OurcorporatestructureissubjecttorisksassociatedwithourcontractualarrangementswiththeVIE.ThecontractualarrangementsmaynotbeaseffectiveasdirectownershipovertheVIE,andwemayincursubstantialcoststoenforcethetermsofthearrangements.UncertaintiesinthePRClegalsystemmaylimitourability,asaCaymanIslandsholdingcompany,toenforcethesecontractualarrangements.Meanwhile,thereareveryfewprecedentsastowhethercontractualarrangementswouldbejudgedtobeeffectiveovertherelevantVIEthroughthecontractualarrangements,orhowcontractualarrangementsinthecontextofaVIEshouldbeinterpretedorenforcedbythePRCcourts.Shouldlegalactionsbecomenecessary,wecannotguaranteethatthePRCcourtswillruleinfavoroftheenforceabilityoftheVIEcontractualarrangements.Intheeventweareunabletoenforcethesecontractualarrangements,orifwesuffersignificantdelayorotherobstaclesintheprocessofenforcingthesecontractualarrangements,ourabilitytoconductourbusinessmaybemateriallyadverselyaffected.TherearealsosubstantialuncertaintiesregardingtheinterpretationandapplicationofcurrentandfuturePRClaws,regulationsandrulesregardingthestatusoftherightsofourCaymanIslandsholdingcompanywithrespecttoitscontractualarrangementswiththeVIEanditsregisteredshareholders.ItisuncertainwhetheranynewPRClawsorregulationsrelat