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Zhihu Inc. American Depositary Shares, each representing three (3) Class A Ordinary Shares · ZH
ZHNYSEotherCurrentCIK 1835724Updated Nov 3, 2026
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NYSE:ZH on TradingView ↗About the company
Zhihu Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community where people come to find solutions, make decisions, seek inspiration, and have fun. Since the initial launch in 2010, Zhihu has grown into the largest Q&A-inspired online content community in China. For more information, please visit https://ir.zhihu.com.
In the news
Zhihu Inc. to Report Fourth Quarter and Full Year 2024 Financial Results on March 26, 2025 News provided by Zhihu Inc. Feb 27, 2025, 07:40 ET Share this article Share to X Share this article Share to X BEIJING , Feb. 27, 2025 /PRNewswire/ -- Zhihu Inc. ("Zhihu" or the "Company") (NYSE: ZH ; HKEX: 23 ↗
Recent filings
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Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 742,286,000Source | 785,411,000Source | 957,094,000Source | 1,110,051,000Source |
| Property, Plant and Equipment, NetUSD | 765,000Source | 1,163,000Source | 1,528,000Source | 1,057,000Source |
| GoodwillUSD | — | 17,309,000Source | 26,913,000Source | 18,318,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 481,783,000Source | 547,883,000Source | 296,714,000Source | 656,187,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 51,193,000Source | 57,627,000Source | 93,609,000Source | 120,955,000Source |
| Inventory, NetCNY | 26,145,000Source | 30,957,000Source | 22,186,000Source | 10,347,000Source |
| Assets, CurrentUSD | 676,668,000Source | 751,392,000Source | 898,305,000Source | 1,061,272,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 15,339,000Source | 22,392,000Source | 32,679,000Source | 28,889,000Source |
| Operating Lease, Right-of-Use AssetUSD | 6,015,000Source | 980,000Source | 5,664,000Source | 14,516,000Source |
| Other Assets, NoncurrentUSD | 1,915,000Source | 85,000Source | 1,125,000Source | 3,255,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 188,162,000Source | 210,604,000Source | 294,886,000Source | 284,460,000Source |
| Stockholders’ equity: | ||||
| Additional Paid in CapitalUSD | 1,885,150,000Source | 1,796,476,000Source | 1,899,657,000Source | 1,973,996,000Source |
| Retained Earnings (Accumulated Deficit)USD | -1,297,140,000Source | -1,216,261,000Source | -1,226,538,000Source | -1,139,879,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -4,824,000Source | 1,696,000Source | -2,895,000Source | -9,541,000Source |
| Stockholders' Equity Attributable to ParentUSD | 543,984,000Source | 566,647,000Source | 647,870,000Source | 819,709,000Source |
| Liabilities and EquityUSD | 742,286,000Source | 785,411,000Source | 957,094,000Source | 1,110,051,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 181,382,000Source | 208,877,000Source | 274,017,000Source | 264,578,000Source |
| Operating Lease, Liability, CurrentUSD | 3,058,000Source | 2,371,000Source | 5,929,000Source | 7,712,000Source |
| Operating Lease, Liability, NoncurrentUSD | 2,230,000Source | 250,000Source | 513,000Source | 6,288,000Source |
| Deferred Income Tax Liabilities, NetUSD | 3,885,000Source | 936,000Source | 3,179,000Source | 1,686,000Source |
| Other Liabilities, NoncurrentUSD | 665,000Source | 541,000Source | 17,177,000Source | 11,908,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 10,140,000Source | 8,160,000Source | 14,338,000Source | 5,882,000Source |
| Additional Financial Items | ||||
| Short-term InvestmentsUSD | 120,253,000Source | 73,817,000Source | 249,274,000Source | 114,142,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -27,906,000Source | -23,149,000Source | -118,245,000Source | -228,847,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 2,717,000Source | 3,007,000Source | 3,506,000Source | 3,655,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 12,481,000Source | 8,119,000Source | 23,191,000Source | 54,210,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -12,881,000Source | -28,529,000Source | -9,072,000Source | 19,260,000Source |
| Deferred Income Tax Expense (Benefit)USD | 2,909,000Source | -414,000Source | -536,000Source | -348,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | -51,993,000Source | -38,385,000Source | -58,525,000Source | -161,653,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -16,632,000Source | 351,077,000Source | -236,784,000Source | 506,071,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 189,000Source | 374,000Source | 1,196,000Source | 104,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 23,889,000Source | 54,897,000Source | 52,053,000Source | 18,553,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -18,822,000Source | -55,329,000Source | -51,417,000Source | -15,710,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | -90,064,000Source | 259,398,000Source | -340,739,000Source | 343,428,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 481,937,000Source | 548,006,000Source | 296,714,000Source | 656,187,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 206,000Source | — | — | — |
| Income Taxes Paid, NetUSD | 546,000Source | 244,000Source | 1,569,000Source | — |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | -2,617,000Source | 2,035,000Source | 5,987,000Source | 14,720,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsCNY | 14,600,000Source | 17,100,000Source | 20,100,000Source | 21,500,000Source |
| DepreciationCNY | 4,400,000Source | 4,800,000Source | 4,800,000Source | 5,600,000Source |
| Equity Method Investment, Other than Temporary ImpairmentCNY | — | 0Source | 0Source | 20,900,000Source |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual AmountCNY | — | 0Source | 0Source | — |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -33,000Source | 139,000Source | 14,000Source | 10,403,000Source |
| Gain (Loss) on Derivative Instruments, Net, PretaxCNY | — | 0Source | 0Source | -145,200,000Source |
| Gain (Loss) on Disposition of BusinessUSD | — | 675,000Source | — | — |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | 56,000Source | 1,000Source | -57,000Source | -11,000Source |
| General and Administrative ExpenseUSD | 35,952,000Source | 45,234,000Source | 58,949,000Source | 90,178,000Source |
| GoodwillUSD | — | 17,309,000Source | 26,913,000Source | 18,318,000Source |
| Goodwill, Impairment LossUSD | 18,067,000Source | 0Source | 0Source | 0Source |
| Impairment of Intangible Assets, Finite-livedUSD | 1,496,000Source | 0Source | 0Source | 0Source |
| Income Tax Expense (Benefit)USD | 3,101,000Source | -1,287,000Source | 1,667,000Source | 2,056,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -323,000Source | 388,000Source | 579,000Source | 399,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -27,583,000Source | -23,537,000Source | -118,824,000Source | -229,246,000Source |
| Operating ExpensesUSD | 308,165,000Source | 364,681,000Source | 474,383,000Source | 494,665,000Source |
| Other Nonoperating Income (Expense)USD | 4,382,000Source | 5,878,000Source | 6,935,000Source | 867,000Source |
| Proceeds from Noncontrolling InterestsUSD | — | 27,000Source | — | — |
| Proceeds from Stock Options ExercisedUSD | — | 159,000Source | 636,000Source | 2,843,000Source |
| Unrealized Gain (Loss) on InvestmentsCNY | 101,400,000Source | — | — | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 393,103,000Source | 493,048,000Source | 591,401,000Source | 522,664,000Source |
| Cost of Goods and Services Sold | —Source | —Source | —Source | —Source |
| Operating Income (Loss)USD | -72,540,000Source | -65,909,000Source | -151,020,000Source | -232,522,000Source |
| Other Nonoperating Income (Expense)USD | 4,382,000Source | 5,878,000Source | 6,935,000Source | 867,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -24,805,000Source | -24,436,000Source | -116,578,000Source | -226,791,000Source |
| Income Tax Expense (Benefit)USD | 3,101,000Source | -1,287,000Source | 1,667,000Source | 2,056,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -323,000Source | 388,000Source | 579,000Source | 399,000Source |
| Earnings Per Share, BasicUSD per share | -0.11Source | -0.09Source | -0.4Source | -0.75Source |
| Earnings Per Share, DilutedUSD per share | -0.11Source | -0.09Source | -0.4Source | -0.75Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 240,043,649Source | 273,560,865Source | 299,132,894Source | 304,836,318Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 240,043,649Source | 273,560,865Source | 299,132,894Source | 304,836,318Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsCNY | 14,600,000Source | 17,100,000Source | 20,100,000Source | 21,500,000Source |
| Current Income Tax Expense (Benefit)CNY | 1,343,000Source | -6,366,000Source | 15,638,000,000Source | 16,583,000,000Source |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual AmountCNY | — | 0Source | 0Source | — |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -33,000Source | 139,000Source | 14,000Source | 10,403,000Source |
| Gain (Loss) on Derivative Instruments, Net, PretaxCNY | — | 0Source | 0Source | -145,200,000Source |
| General and Administrative ExpenseUSD | 35,952,000Source | 45,234,000Source | 58,949,000Source | 90,178,000Source |
| Goodwill, Impairment LossUSD | 18,067,000Source | 0Source | 0Source | 0Source |
| Gross ProfitUSD | 235,625,000Source | 298,772,000Source | 323,363,000Source | 262,143,000Source |
| Investment Income, NetCNY | 72,700,000Source | 60,500,000Source | 5,873,000Source | 10,204,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -27,583,000Source | -23,537,000Source | -118,824,000Source | -229,246,000Source |
| Operating ExpensesUSD | 308,165,000Source | 364,681,000Source | 474,383,000Source | 494,665,000Source |
| Research and Development ExpenseUSD | 75,073,000Source | 100,359,000Source | 126,967,000Source | 110,677,000Source |
| Selling and Marketing ExpenseUSD | 179,073,000Source | 219,088,000Source | 288,467,000Source | 293,810,000Source |
Filing attachments
tm2628728d1_ex99-1.htm · 6-K · 2026-11-02
Exhibit 99.1 FF305 Page 1 of 12 v 1.3.0 Next Day Disclosure Return (Equity issuer - changes in issued shares or treasury shares, share buybacks and/or on-market sales of treasury shares) Instrument: Equity issuer Status: New Submission Name of Issuer: Zhihu Inc. Date Submitted: 26 October 2026 Section I must be completed by a listed issuer where there has been a change in its issued shares or treasury shares which is discloseable pursuant to rule 13.25A of the Rules Governing th…
Read attachment ↗tm2628255d1_ex99-1.htm · 6-K · 2026-10-26
Exhibit 99.1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Zhihu Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited…
Read attachment ↗tm2628255d1_ex99-2.htm · 6-K · 2026-10-26
Exhibit 99.2 FF305 Page 1 of 12 v 1.3.0 Next Day Disclosure Return (Equity issuer - changes in issued shares or treasury shares, share buybacks and/or on-market sales of treasury shares) Instrument: Equity issuer Status: New Submission Name of Issuer: Zhihu Inc. Date Submitted: 20 October 2026 Section I must be completed by a listed issuer where there has been a change in its issued shares or treasury shares which is discloseable pursuant to rule 13.25A of the Rules Governing th…
Read attachment ↗tm2628073d1_ex99-1.htm · 6-K · 2026-10-21
Exhibit 99.1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Zhihu Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited…
Read attachment ↗tm2627801d2_ex99-1.htm · 6-K · 2026-10-20
Exhibit 99.1 Zhihu Inc. Announces Results of the Extraordinary General Meeting BEIJING, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Zhihu Inc. (“Zhihu” or the “Company”) (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced that the ordinary resolution relating to the Company’s previously announced subscription, through a wholly owned subsidiary, for a limited partnership interest in Tianjin Lisi Xingshen Equity Investment Partnership (Limited Partnership), with a capital …
Read attachment ↗tm2627801d2_ex99-2.htm · 6-K · 2026-10-20
Exhibit 99.2 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. Zhihu Inc. (A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited…
Read attachment ↗