香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Zhihu Inc. （於開曼群島註冊成立以不同投票權控制的有限責任公司） （紐交所代號：ZH；聯交所代號：2390） 截至2024年6月30日止六個月的 中期業績公告 知乎（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈，本公司、其附屬公司及 綜合聯屬實體（「本集團」或「知乎」）截至2024年6月30日止六個月（「報告期間」） 的未經審計簡明中期合併業績（「未經審計中期業績」），連同2023年同期的比較數 字。該等中期業績乃根據美國公認會計準則（「美國公認會計準則」）編製。報告期 間的未經審計簡明中期合併財務資料已由本公司獨立核數師羅兵咸永道會計師事 務所根據國際審閱委聘準則第2410號「由實體獨立核數師審閱中期財務資料」進行 審閱。 於本公告內，「我們」指本公司及（倘文義另有所指）本集團（定義見「一般資料」一 節）。 1 財務表現摘要 | --- | --- | --- | --- | |-- ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Zhihu Inc. （於開曼群島註冊成立以不同投票權控制的有限責任公司） （紐交所代號：ZH；聯交所代號：2390） 內幕消息 截至2024年6月30日止季度 未經審計財務業績 | --- | --- | |----------------------------------------------------------------------------------------|------------------| | | | | 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.09 例（第 571 章）第 XIVA 部刊發。 | 條及證券及期貨條 | | 知乎（「 本公司 」）欣然宣佈本公司及其附屬公司及綜合聯屬實體截至 | 2024 年 6 月 | | 30 日止三個月的未經審計簡明合併業績。 | | 本公司欣然宣佈，根據美國證券交易委員會（「美國證監會」）適用規則刊發的本公 司及其 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Zhihu Inc. （於開曼群島註冊成立以不同投票權控制的有限責任公司） （紐交所代號：ZH；聯交所代號：2390） 內幕消息 截至2024年3月31日止季度 未經審計財務業績 | --- | --- | |--------------------------------------------------------------------------------------------------------|-----------------------------| | | | | 本公告乃根據香港聯合交易所有限公司（「 香港聯交所 及證券及期貨條例（第 571 章）第 XIVA 部刊發。 | 」）證券上市規則第 13.09 條 | | 知乎（「 本公司 」）欣然宣佈本公司及其附屬公司及綜合聯屬實體截至 31 日止三個月的未經審計簡明合併業績。 | 2024 年 3 月 | 本公司欣然宣佈，根 ...

知 Zhihu Inc. (於開曼群島註冊成立以不同投票權控制的有限責任公司) 股份代號：2390 目錄 2 公司資料 4 主要摘要 8 業務回顧及展望 11 管理層討論與分析 18 董事會報告 45 董事及高級管理層 49 企業管治報告 69 環境、社會及管治報告 118 其他資料 126 獨立核數師報告 136 合併資產負債表 138 合併經營狀況及全面虧損表 140 合併股東權益變動表 142 合併現金流量表 144 合併財務報表附註 213 釋義 二零二三年年度報告 2 公司資料 | --- | --- | |---------------------------------------|----------------------------------------| | | | | 執行董事 | 公司秘書 | | 周源先生 （董事長兼行政總裁） | 劉綺華女士 | | 李大海先生 | 授權代表 | | 沙大川先生 | 沙大川先生 | | （於 2024 年 2 月 19 日辭任） | （於 2024 年 2 月 19 日辭任） 周源先生 | | 非執行董事 | （於 2024 年 2 月 19 日 ...

临近世界读书日，由《新周刊》主办的2023年度刀锋图书奖正式公布。"没药花园"主理人、作家何袜皮所著，知乎图书出版的长篇悬疑推理小说《易碎品》 获得"年度最具改编潜力作品"奖项。 据悉，刀锋图书奖历时三届，已成为国内具有影响力和洞察力的出版奖项。2023年度刀锋图书奖邀请知名作家、茅盾文学奖得主毕飞宇担任推委会主席，与 推委会成员和特邀嘉宾共同推选出15本刀锋好书以及"年度致敬""年度诗人""年度青年小说家""年度学人""年度译者""年度非虚构作者""年度最具改编潜力作 品"等14个单项荣誉。此外，知乎图书也入围本届"年度出版品牌"奖项。 作家何袜皮是美国威斯康星大学麦迪逊分校人类学博士，她痴迷于罪案分析和非虚构写作，因主理自媒体账号"没药花园"为人熟知。她带领团队写下数百件 国内外知名的真实犯罪案件，引发超过百万人的阅读讨论。除了非虚构类写作，何袜皮也擅长在小说创作中挖掘人性。《易碎品》是何袜皮继《龙楼镇》 《为她准备的好躯壳》之后，又一部长篇悬疑推理小说，她将对现实复杂性的关注，与冷峻克制的叙事风格，延续到这部悬疑小说创作中，获得刀锋图书奖 评审团的肯定。 在刀锋图书奖颁奖现场，何袜皮与现场读者分享了小说 ...

Financial Performance - Total revenue for the year ended December 31, 2023, increased by 16.5% to RMB 4,198.9 million compared to RMB 3,604.9 million in 2022[2] - Net loss narrowed significantly by 46.8% to RMB 839.5 million in 2023, compared to RMB 1,578.4 million in 2022[6] - Adjusted operating loss decreased by 27.1% to RMB 887.98 million in 2023 from RMB 1,218.8 million in 2022[5] - Operating loss decreased to RMB 1,072,225 for the year ended December 31, 2023, from RMB 1,603,751 in the previous year, representing a reduction of approximately 33%[34] - Net loss attributable to Zhihu shareholders for the year ended December 31, 2023, was RMB 843,641, compared to RMB 1,581,157 for the year ended December 31, 2022, indicating a year-over-year improvement of 46.6%[34] - Gross profit rose by 27.0% to RMB 2.3 billion in 2023, with a gross margin increase from 50.2% in 2022 to 54.7% in 2023[19] User Engagement - Average monthly active users rose by 4.0% to 105.3 million in 2023 from 101.3 million in 2022[2] - Average monthly subscription members surged by 47.5% to 14.5 million in 2023, up from 9.8 million in 2022[2] - The average monthly active users in 2023 reached 105.3 million, with 74.1% of active users under the age of 30[9] - The number of content creators increased to 71.3 million, a year-on-year growth of 13.0% from 63.1 million[10] Revenue Streams - Revenue from paid membership business grew by 48.4% to RMB 1,826.6 million in 2023[6] - Revenue from vocational training business increased from RMB 248.3 million in 2022 to RMB 565.6 million in 2023[6] - Marketing services revenue was RMB 1,652.99 million, down from RMB 1,956.48 million in 2022[14] - Paid membership revenue increased by 48.4% to RMB 1.83 billion in 2023, compared to RMB 1.23 billion in 2022[17] - Vocational training revenue surged by 127.8% to RMB 565.6 million in 2023, up from RMB 248.3 million in 2022, driven by enhanced online course offerings and contributions from acquired vocational training businesses[17] Operational Efficiency - The total operating expenses for 2023 were RMB 3,368.1 million, a slight decrease from RMB 3,411.8 million in 2022[14] - Operating expenses remained stable at RMB 3.4 billion in both 2022 and 2023, with R&D expenses increasing by 18.1% to RMB 901.5 million[19] - The operating loss decreased by 33.1% to RMB 1.1 billion in 2023, compared to RMB 1.6 billion in 2022[19] Cash and Assets - Cash and cash equivalents decreased to RMB 5.5 billion as of December 31, 2023, down from RMB 6.3 billion at the end of 2022[20] - Total assets as of December 31, 2023, were RMB 6,795,272, a decrease from RMB 7,656,239 as of December 31, 2022[36] - Total liabilities increased to RMB 2,093,662 as of December 31, 2023, compared to RMB 1,961,971 as of December 31, 2022, reflecting a rise of approximately 6.7%[37] - Cash and cash equivalents as of December 31, 2023, were RMB 2,106,639, down from RMB 4,525,852 as of December 31, 2022, indicating a significant decrease of 53.5%[36] Corporate Governance - The company did not recommend the distribution of an annual dividend for the reporting period[33] - The company has complied with all applicable principles and provisions of the corporate governance code during the reporting period, except for the separation of the roles of Chairman and CEO[27] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited annual results for the reporting period[29] - The company has adopted a code for securities transactions by directors and relevant employees, confirming compliance during the reporting period[28] - The company plans to continue reviewing its corporate governance practices to ensure compliance with the latest standards[27] Strategic Initiatives - The company launched its first large language model, Zhihai Map AI, with over 100 billion parameters in November 2023[7] - The company is focusing on advancing generative AI technology to enhance user experience and content creation[7] - The company aims to optimize monetization efficiency through improved user experience and support for content creators[7] - The company aims to enhance community culture and high-quality content creation in 2024, focusing on professional users and content creators[13] - The company plans to leverage generative AI technology to support comprehensive business growth and improve operational efficiency[13] Shareholder Communication - The annual performance announcement is published on the Hong Kong Stock Exchange website and the company's website[56] - The annual report for the reporting period will be sent to shareholders at an appropriate time[56] - The company emphasizes the importance of accurate information dissemination to stakeholders[56] - The announcement date is March 26, 2024, indicating a timely update on financial performance[56] - Shareholders can access the annual report on the specified websites for detailed financial insights[56] - The announcement reflects the company's ongoing communication strategy with investors[56]

Financial Performance - Total revenue for Q4 2023 was RMB 1,138.3 million (USD 160.3 million), representing a 2.2% increase compared to RMB 1,114.0 million in Q4 2022[6] - Total revenue for the fiscal year 2023 was RMB 4,198.9 million (USD 591.4 million), a 16.5% increase from 2022[6] - Total revenue for the three months ended September 30, 2023, was RMB 1,022,163 thousand, a decrease from RMB 1,113,965 thousand for the same period in 2022, representing a decline of approximately 8.2%[18] - Total revenue for the nine months ended September 30, 2023, was RMB 1,630,000, a decrease from RMB 3,663,000 in the same period of 2022, reflecting a decline of approximately 55%[19] Profitability Metrics - Gross margin improved from 56.4% in Q4 2022 to 59.1% in Q4 2023[6] - Adjusted net loss for the fiscal year 2023 was RMB 659.1 million (USD 92.8 million), a reduction of 44.9% compared to 2022[6] - Operating loss narrowed by 17.6% from RMB 216.3 million in 2022 to RMB 178.2 million (USD 25.1 million)[9] - Net loss for Q4 2023 narrowed by 42.6% to RMB 103.1 million (USD 14.5 million) from RMB 179.5 million in Q4 2022[6] - Net loss decreased by 42.6% from RMB 179.5 million in 2022 to RMB 103.1 million (USD 14.5 million)[9] - Operating loss for Q3 2023 was RMB (350,103), compared to RMB (216,308) in Q3 2022, marking an increase in operating losses of approximately 62%[21] - Adjusted net loss for Q3 2023 was RMB (225,298), compared to RMB (134,079) in Q3 2022, representing an increase in adjusted losses of approximately 68%[21] User Engagement - Average monthly active users (MAUs) reached 99.0 million in Q4 2023[6] - Monthly active users and average monthly subscribers were highlighted as key metrics for assessing user engagement and growth[11] Revenue Streams - Paid membership revenue grew by 13.3% to RMB 455.9 million (USD 64.2 million) in Q4 2023, driven by an increase in subscription numbers[8] - Revenue from vocational training surged by 100.1% to RMB 169.3 million (USD 23.8 million) in Q4 2023, attributed to enriched online courses and contributions from newly acquired vocational training businesses[8] - Marketing services revenue decreased to RMB 465.2 million (USD 65.5 million) in Q4 2023 from RMB 572.4 million in Q4 2022[8] - Paid membership revenue grew by 48.4% to RMB 1,826.6 million (USD 257.3 million) from RMB 1,230.8 million in 2022, driven by a continuous increase in subscription numbers[9] Expenses - R&D expenses increased from RMB 212.5 million in the same period of 2022 to RMB 232.6 million (USD 32.8 million) due to increased investment in technological innovation[9] - General and administrative expenses decreased by 26.0% from RMB 123.1 million in 2022 to RMB 91.1 million (USD 12.8 million), primarily due to a decline in employee-related expenses[9] - The company reported a total operating expenses of RMB 898,554 thousand for the three months ended September 30, 2023, compared to RMB 844,831 thousand for the same period in 2022, reflecting an increase of approximately 6.3%[18] - Research and development expenses for the three months ended September 30, 2023, were RMB 249,662 thousand, up from RMB 212,495 thousand for the same period in 2022, indicating an increase of about 17.5%[18] - The company reported a significant increase in general and administrative expenses, which rose to RMB 27,662 in Q3 2023 from RMB 18,032 in Q3 2022, an increase of approximately 53%[19] Shareholder Actions - The company repurchased 26.3 million Class A ordinary shares under a USD 100 million share repurchase program, totaling USD 58.5 million[11] Future Outlook - The company aims to enhance operational efficiency and strengthen profitability capabilities moving forward[7] - The company plans to hold an earnings conference call on March 26, 2024, to discuss financial performance and future outlook[12] Financial Position - The company’s cash and cash equivalents decreased to RMB 2,106,639 as of December 31, 2023, down from RMB 4,525,852 as of December 31, 2022, representing a decline of about 53%[20] - The company’s total assets decreased to RMB 6,795,272 as of December 31, 2023, from RMB 7,656,239 as of December 31, 2022, a reduction of about 11%[20] - The company’s total liabilities increased to RMB 2,093,662 as of December 31, 2023, compared to RMB 1,961,971 as of December 31, 2022, reflecting an increase of about 7%[20] Currency and Reporting - The company utilized a specific exchange rate of 7.0999 RMB to 1 USD for currency conversion in the report[16] - The company emphasizes the use of non-GAAP financial measures to provide a clearer view of its operational performance, excluding stock-based compensation and amortization of intangible assets from acquisitions[15] - Forward-looking statements are included in the report, highlighting inherent risks and uncertainties that may cause actual results to differ significantly from those projected[17] Loss Per Share - The company reported a net loss per share of RMB (0.94) for Q3 2023, compared to RMB (0.59) for the same period in 2022, indicating a 59% increase in losses year-over-year[19] Share Count - The weighted average number of ordinary shares outstanding for Q3 2023 was 297,742,064, a decrease from 304,665,906 in Q3 2022, indicating a reduction of about 2%[19]

近年来，"大女主"概念的网文、影视剧盛行，不同于以往"菟丝草"式的唯爱情论叙事，如今的大女主塑造走向了独立、悦己式的创作思路，背后折射出当下 年轻女性群体的自我期待。以知乎旗下原创故事平台盐言故事为例，最受欢迎的女性题材故事，正展现出多元、不被定义、有力量的全新视角，并为接下来 的影视创作提供借鉴。 知乎盐言故事不仅是短篇故事领域最大的生产基地，也是全网年轻女性读者最活跃的短篇故事平台。数据显示，盐言故事女性用户占比超过八成，多为90后 和00后Z世代女性，对女性力量、女性崛起等题材创作有浓厚兴趣，推动盐言故事"大女主"创作在数量和质量上的持续提升。 三八国际妇女节期间，盐言故事上线了"红盐悦己"女主季活动，15个女性故事呈现的"大女主"叙事，或走出"恋爱脑"桎梏，或追求心灵舒展自洽，或摆脱男 性叙事逻辑，或展现家国情怀，颇具思想性与文学性。 "知乎三绝"之一《洗铅华》塑造的反套路女主，没有女主光环和金手指，在逐渐觉醒中追随本心，反转人生。《点燃星火》讲述了一个非主流穿越故事，女 主没有囿于家族斗争、亲密关系的传统叙事中，而是以家国情怀贯穿故事线，传递着进步思想的星星之火，被读者广泛称赞"格局大""改写穿越历 ...

Key Personnel Changes - Sha Dachuan resigned as executive director, CFO, and authorized representative, and was appointed as Chief Investment Officer [1] - Wang Han replaced Sha Dachuan as CFO, and Zhou Yuan, the founder of Zhihu, became the authorized representative [1] - Wang Han joined Zhihu in February 2024, previously working at Access Technology Ventures (2020-2023) and Hillhouse Capital (2018-2020) [1] Financial and Investment Strategy Adjustments - The personnel changes indicate adjustments in Zhihu's financial management and investment strategy [1] - Wang Han will be responsible for financial planning and management, while Sha Dachuan will focus on investment affairs [1] Investment and M&A Activities - Since 2021, Zhihu has engaged in five investment events, including strategic investments in Pinzhi Education and Biban Network, and acquisitions of "Yiqi Kao Jiaoshi" and MBA Master [1] - Zhihu's investments and M&A activities are primarily focused on vocational education and strategic layouts in the large model field [1] Financial Performance - In Q3 2023, Zhihu's total revenue was RMB 1.022 billion, a year-on-year increase of 12.1% [1] - Adjusted net loss narrowed by 10.1% to RMB 225.3 million [1] - Gross margin increased from 48.7% to 53.7% year-on-year [1] - Average monthly subscribing members reached 14.8 million, a year-on-year increase of 35.9% [1] - Monthly active users (MAUs) were 111 million [1]

智通财经APP获悉，2月5日晚，以"看见彼此，照亮远方"为主题的知乎(02390)"2024答案奇遇夜"在知乎 播出。"2024答案奇遇夜"由春节也送货的京东独家冠名播出，由OPPO联合赞助支持，将每一位新职人 的真实生活以语言类小剧场真人秀的形式呈现，为大家奉上了一场击穿内容壁垒、跨越年龄代际的青春 盛典。 思新职人所想，解新职人所忧。"2024答案奇遇夜"由知乎、河南卫视联合播出，台网联动将知乎元素通 过电视台进行跨网传播和扩容。 知乎希望让广大用户在讨论中看见彼此，让人们的每个问题都被温柔以待。 晚会播出后，很多观众被节目的力量感、生动写实的画面感深深打动。有网友表示，"节目中的答案或 许不是你的答案，但你的答案一定就藏在这些思考之中"。 八个微观切片，演绎新职人真实生活 作为首档语言类小剧场真人秀，晚会以"答案奇遇岛"为背景，围绕八个过去一年在知乎备受热议的真实 生活问题，由音乐人、插画师、艺术家、记者、作家、游戏设计师、自由撰稿人等多位来自不同领域的 嘉宾，通过对谈形式引发有趣、深度的讨论。 与此同时，晚会还提供舞台，由歌手张含韵、张远、苏运莹、房东的猫，演员史策、闫佩伦、王天放等 表演嘉宾，以歌曲 ...