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Kanzhun founder offloads HK$863 million in shares to cover taxes as China targets offshore trusts

Kalbir Talwar
Published Sep 22, 2026
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Summary:
  • Peng Zhao sold 15.2 million Kanzhun shares for HK$56.90 each via a Hong Kong block trade, totaling HK$863 million ($110 million).
  • The price was 2.7% below the prior close; Kanzhun stock slid up to 4.2% in Hong Kong after the sale.
  • China plans to tax offshore trusts from July, spurring a rush by wealthy families to reorganize finances before a grace period ends next month.

The trade and the market's take

Peng Zhao executed the sale through Techwolf Ltd., a British Virgin Islands vehicle owned by a trust he set up. The block, arranged by Goldman Sachs Group Inc., moved 15.2 million shares at HK$56.90 apiece on Monday and was disclosed in a US Securities and Exchange Commission filing. The deal came at a 2.7% haircut to the latest close, and the shares later traded down, with the stock in Hong Kong declining by up to 4.2%. Kanzhun did not reply to a request for comment. People familiar with the matter said Zhao sold to address tax obligations tied to new offshore rules, and requested anonymity because the matter is private.

Why it's happening now

Beijing said it will begin taxing offshore trusts set up by Chinese citizens in July, closing a long used avenue for wealth protection and succession. With a grace period ending next month, some of the country's richest are racing to tidy up their structures. Zhao's move is among the earliest high profile reactions, coming after the founding family of Haidilao International Holding Ltd. sold $351 million worth of shares earlier this month.

News like this reminds investors to revisit how they protect and grow savings. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.

What to watch from Kanzhun

Kanzhun started in 2013 and reported second quarter revenue of 2.4 billion yuan ($358 million), up 14%. The company said it averaged roughly 70 million monthly active users during those three months. Zhao also sold roughly $6 million of Kanzhun shares earlier this month, based on average selling prices cited in an SEC filing. For everyday investors, insider block trades like this can add near term price pressure, but the bigger story is how policy shifts can ripple through ownership, liquidity, and sentiment in names you may hold or track.

Keeping a steady plan helps preserve wealth and seize smart opportunities over time. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.

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