BZ vs GDS
Kanzhun Ltd. and GDS Holdings Ltd., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | BZ | GDS |
|---|---|---|
| Revenue | CNY 8.3B | CNY 11.4B |
| Net income | CNY 2.7B | CNY 949.6M |
| Gross margin | 85.1% | 22.6% |
| Net margin | 32.5% | 8.4% |
| Return on equity | 15.7% | 3.9% |
| Diluted EPS | CNY 2.95 | CNY 0.55 |
| Dividend / share | — | — |
| Payout ratio | 20.2% | — |
| Free cash flow | CNY 4.4B | CNY -1.3B |
| Equity | CNY 20.0B | CNY 25.8B |
| Net debt / equity | — | 0.45× |
| Current ratio | 4.66× | 2.60× |
| Revenue CAGR 5y | 33.6% | 14.8% |
| Profit CAGR 5y | — | — |
GDS bills 1.4× the revenue of BZ, and BZ keeps more of each dollar of revenue as profit (32.5% against 8.4%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
Revenue by year
7 years side by side
| Fiscal year | BZ | GDS |
|---|---|---|
| FY2025 | CNY 8.3B | CNY 11.4B |
| FY2024 | CNY 7.4B | CNY 10.3B |
| FY2023 | CNY 6.0B | CNY 9.8B |
| FY2022 | CNY 4.5B | CNY 9.3B |
| FY2021 | CNY 4.3B | CNY 7.8B |
| FY2020 | CNY 1.9B | CNY 5.7B |
| FY2019 | CNY 998.7M | CNY 4.1B |
Net income by year
Bottom line
| Fiscal year | BZ | GDS |
|---|---|---|
| FY2025 | CNY 2.7B | CNY 949.6M |
| FY2024 | CNY 1.6B | CNY 3.4B |
| FY2023 | CNY 1.1B | CNY -4.3B |
| FY2022 | CNY 107.2M | CNY -1.3B |
| FY2021 | CNY -1.1B | CNY -1.2B |
| FY2020 | CNY -941.9M | CNY -666.4M |
| FY2019 | CNY -502.1M | CNY -442.1M |
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