投资要点 | --- | --- | --- | --- | |---------|-------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | MO | Holding Ltd | | | | | | | | | SAIF IV | | | | | Qiming | Venture | | | 公司 Q3 实现营收 8.45 亿元，同比降低 17.32%；净亏损同比降低 96.8%至 900 万元；毛利率由 2023 年同期的 53.7%提高至 63.9%，达到历史新高。 分业务来看，Q3 三大业务营收均出现下滑。其中广告营销服务实现收入 2.57 亿元，同比下降 32.9%；付费会员实现收入 4.59 亿元，同比下降 1.71%； 职业培训实现收入 1.05 亿元，同比下降 27.59%。分析其原因，营销服务 收入的减少主要由于公司持续优化广告服务产品供给，将提高利润率作为 战略核心，减少了效率低的广告接口；付费会员收入的小幅下降主要是由 于推广激励活动使得付费会员 ARPU 下降； ...

Zhihu Inc. (NYSE: ZH ) has not fared all that well since its IPO in 2021. The stock spent most of the past three years in decline, resulting in a new multi-year and post-IPO low as recently asWelcome to my author's site. As an avid follower of SeekingAlpha, I take great interest in articles posted as the subject matter is often something that appeals to me. However, I will sometimes encounter an article that I might not agree with. My purpose is to present an alternative view to readers that they may want t ...

（本报告除非特别说明，货币单位均为人民币； 美元兑人民币汇率为 7.2） [Table_Title] 【广发传媒&海外】知乎（ZH） [Table_Page] 公告点评|媒体Ⅱ 证券研究报告 24Q3 大幅减亏，社区生态优化 [Table_Summary] 核心观点： ⚫ 知乎发布未经审计的 2024 年 Q3 业绩：（1）24Q1-Q3，公司实现收 入 27.40 亿元，同比减少 10.48%；归母净亏损 2.58 亿元，同比减亏 4.82 亿元；经调整净亏损 1.93 亿元，同比减亏 3.74 亿元。（2）24Q3， 公司实现收入 8.45 亿元，同比减少 17.33%；归母净亏损 0.10 亿元， 同比减亏 2.68 亿元；经调整净亏损 0.13 亿元，同比减亏 2.08 亿元。 ⚫ 实现大幅减亏，社区生态优化。公司持续践行减亏策略，24Q3 实现上 市以来的最低季度亏损。24Q3 毛利率为 63.9%，YoY+10.26pct；销售 费率同比下降 6.35 pct，研发费率同比下降 3.21pct，管理费率同比下 降 4.44pct。与此同时，社区生态进一步优化。核心用户的健康指标稳 步改善，24Q3 ...

知乎（02390.HK）于今天发布2024年第三季度未经审计财务业绩。期内知乎总收入为8.45亿元（人民 币，下同），同比减少17.3%。毛利率从去年同期的53.7%提升至63.9%，净亏损为9000万元，较去年同 期大幅收窄96.8%，创造上市以来减亏幅度最大且净亏损额最少的单季纪录。经调整净亏损为1.31亿 元，同比收窄94.2%。 知乎推出的AI搜索产品知乎直答在第三季度继续保持高增长，进入更具专业、实用性的深度搜索能力 拓展阶段。今年10月底，知乎直答正式上线"专业搜索"功能，引入维普、知乎精选等专业内容源，涵盖 超过5000万篇中英文文献数据。同时支持文件上传和超长文件解析，并针对提供单篇精读、指定来源问 答等功能，更加契合专业人士的生产力场景。 知乎继续推进多引擎商业策略，各项业务也在稳步渡过调整期。其中付费阅读业务作为最大的收入来 源，贡献4.59亿元营收，收入占比首次过半，达到54%。营销服务业务和职业教育业务分别贡献2.57亿 元和1.05亿元收入，其中职业教育自营业务继续保持正向增长。 期内知乎在用户活跃和会员增长方面也取得了显著成绩。知乎2024年第三季度平均月活跃用户 （MAUs）为8 ...

Zhihu Inc (NYSE:ZH) Q3 2024 Results Conference Call November 26, 2024 6:00 AM ET Company Participants Yolanda Liu - CEO Wang Han - Chief Financial Officer Zhou Yuan - Chairman and Chief Executive Officer Conference Call Participants Xueqing Zhang - CICC Daisy Chen - Haitong International Lincoln Kong - Goldman Sachs Vicky Wei - Citi Stella Wang - TH Capital Cici Cheng - CLSA Operator Good morning, ladies and gentlemen. Thank you for standing by, and welcome to the Zhihu Inc. Third Quarter 2024 Financial Re ...

Good morning, ladies and gentlemen. Thank you for standing by, and welcome to the Chuhu, Inc. Third Quarter 2024 Financial Results Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. Today's conference call is being recorded, and at this time, I would like to turn the conference over to Ms. Yolanda Lau, Director of Investor Relations. Please go ahead, ma'am. Thank you, Operator. Hello, everyone. Welcome to ...

BEIJING, Nov. 26, 2024 /PRNewswire/ -- Zhihu Inc. ("Zhihu" or the "Company") (NYSE: ZH; HKEX: 2390), a leading online content community in China, today announced its unaudited financial results for the quarter ended September 30, 2024.Third Quarter 2024 Highlights Total revenues were RMB845.0 million (US$120.4 million) in the third quarter of 2024, compared with RMB1,022.2 million in the same period of 2023. Gross margin expanded to 63.9% in the third quarter of 2024 from 53.7% in the same period of 2023. N ...

BEIJING, Nov. 11, 2024 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX: 2390) ("Zhihu" or the "Company"), a leading online content community in China, today announced that it will report its unaudited financial results for the quarter ended September 30, 2024 before the U.S. market opens on November 26, 2024.The Company's management will host a conference call at 6:00 A.M. U.S. Eastern Time on Tuesday, November 26, 2024 (7:00 P.M. Beijing/Hong Kong Time on Tuesday, November 26, 2024) to discuss the results.All p ...

BEIJING, Oct. 30, 2024 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX: 2390) ("Zhihu" or the "Company"), a leading online content community in China, today announced the results of the Company's all cash tender offers (the "Offers") to buy back up to 46,921,448 Class A ordinary shares of the Company (including in the form of American depositary shares (the "ADSs")). The Offers, including the U.S. Offer, expired at 4:00 a.m., New York City time, or 4:00 p.m., Hong Kong time, on Wednesday, October 30, 2024 (the " ...

BEIJING, Oct. 23, 2024 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX: 2390) ("Zhihu" or the "Company"), a leading online content community in China, today updated that, in relation with the Company's all cash tender offers (the "Offers") to buy back up to 46,921,448 Class A ordinary shares of the Company (including in the form of American depositary shares (the "ADSs")), Mr. Dahai Li, a director of the Company, has informed the Company of his current intention to accept the Offers related to a part of the Clas ...