Core Insights - Zhihu Inc. reported total revenues of RMB845.0 million (US$120.4 million) for Q3 2024, a decrease from RMB1,022.2 million in Q3 2023, indicating a year-over-year decline of approximately 17.4% [2][7] - The company's gross margin improved to 63.9% in Q3 2024 from 53.7% in Q3 2023, reflecting enhanced operational efficiency [3][11] - Net loss narrowed significantly to RMB9.0 million (US$1.3 million) in Q3 2024, down 96.8% from RMB278.4 million in the same period of 2023 [3][14] Financial Performance - Total revenues for Q3 2024 were RMB845.0 million (US$120.4 million), compared to RMB1,022.2 million in Q3 2023, marking a decline of 17.4% [2][7] - Marketing services revenue decreased to RMB256.6 million (US$36.6 million) from RMB383.0 million in Q3 2023, primarily due to a strategic focus on margin improvement [7] - Paid membership revenue slightly decreased to RMB459.4 million (US$65.5 million) from RMB466.8 million in Q3 2023, attributed to a marginal decline in average revenue per subscribing member [8] - Vocational training revenue fell to RMB105.1 million (US$15.0 million) from RMB144.8 million in Q3 2023, driven by lower contributions from acquired businesses [9] Cost Management - Cost of revenues decreased by 35.6% to RMB304.9 million (US$43.4 million) from RMB473.7 million in Q3 2023, due to reduced content and operating costs [10] - Total operating expenses decreased by 30.5% to RMB624.5 million (US$89.0 million) from RMB898.6 million in Q3 2023, reflecting improved operational efficiency [11] - Selling and marketing expenses decreased by 27.4% to RMB388.0 million (US$55.3 million) from RMB534.3 million in Q3 2023, due to more disciplined promotional spending [12] User Engagement - Average monthly active users (MAUs) reached 81.1 million in Q3 2024, indicating growth in user engagement [4] - Average monthly subscribing members were 16.5 million in Q3 2024, reflecting the company's efforts to enhance its subscription model [5] Strategic Initiatives - The company introduced the 'Professional Search' feature to enhance user experience and engagement, building on the success of its AI-powered search tool, Zhihu Zhida [6] - Management emphasized a commitment to reducing losses and improving profitability, achieving the lowest quarterly loss since its U.S. IPO [6][14] Share Repurchase Programs - As of September 30, 2024, Zhihu repurchased 31.1 million Class A ordinary shares for a total price of US$66.5 million under its existing share repurchase program [17] - The company also conducted a cash tender offer, repurchasing 33,016,016 Class A ordinary shares, representing approximately 11.2% of its total issued shares before the repurchase [18]

Core Viewpoint - Zhihu Inc. will report its unaudited financial results for the quarter ended September 30, 2024, before the U.S. market opens on November 26, 2024 [1] Group 1: Financial Reporting - The financial results announcement is scheduled for November 26, 2024, before U.S. market opening [1] - A conference call will be hosted by the company's management at 6:00 A.M. U.S. Eastern Time on the same day [1] - Participants must pre-register online to join the conference call and will receive dial-in numbers and a unique registrant ID [2] Group 2: Company Overview - Zhihu Inc. is a leading online content community in China, evolving from a Q&A platform to a comprehensive online content community since its launch in 2010 [4] - The company is recognized as the largest Q&A-inspired online content community in China [4]

Core Points - Zhihu Inc. announced the results of its cash tender offers to buy back up to 46,921,448 Class A ordinary shares, with 33,016,016 shares validly tendered and accepted for buyback [1][2] - The total consideration for the buyback is HK$300,775,906, with completion expected on or before November 8, 2024 [1] - Following the buyback, there will be 261,860,348 shares issued and outstanding, comprising 246,413,570 Class A ordinary shares and 15,446,778 Class B ordinary shares [2] Company Overview - Zhihu Inc. is a leading online content community in China, evolving from a Q&A platform to a comprehensive online content community since its launch in 2010 [5]

Core Points - Zhihu Inc. has announced a cash tender offer to buy back up to 46,921,448 Class A ordinary shares, including American depositary shares (ADSs) [1] - Mr. Dahai Li, a director of Zhihu, intends to accept the tender offer for a portion of his Class A ordinary shares [1] Company Information - Zhihu Inc. is a leading online content community in China, established in 2010, evolving from a Q&A platform to a comprehensive online content community [4] - The company aims to provide solutions, decision-making support, inspiration, and entertainment to its users [4]

BEIJING, Oct. 16, 2024 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX: 2390) ("Zhihu" or the "Company"), a leading online content community in China, today announced that the proposed ordinary resolution relating to the all cash tender offers (the "Offers") that commenced on September 9, 2024 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")) at an offer price of HK$9.11 per Class A ordinary share (equivalent of US$3.50 per ADS) ...

Share Structure - As of September 27, 2024, a total of 294,815,461 shares are issued and outstanding, comprising 277,421,795 Class A Ordinary Shares and 17,393,666 Class B Ordinary Shares[8]. - The company has 1,582,216 outstanding options under the 2012 Plan, entitling holders to acquire an equal number of Class A Ordinary Shares[9]. - There are 233,337 outstanding restricted shares under the 2012 Plan, allowing holders to acquire the same number of Class A Ordinary Shares[9]. - A total of 16,727,582 outstanding restricted share units under the 2022 Plan entitle holders to acquire an equal number of Class A Ordinary Shares[9]. - The company has no other outstanding options, derivatives, warrants, or securities convertible into shares, apart from those disclosed[10]. Share Cancellation - On September 27, 2024, 8,328 options and 8,007 restricted shares were cancelled under the 2012 Plan, along with 51,723 restricted share units cancelled under the 2022 Plan[7]. - 62,202 Bulk Issuance Shares in the form of ADSs were used to settle the exercise or vesting of awards granted under the 2012 and 2022 Plans[7]. Regulatory Compliance - The company is subject to the Takeovers Code, and relevant securities dealings must be disclosed by associates during the Offer Period[11]. - The board of directors is responsible for the accuracy of the information contained in the announcement[17]. - The announcement was made in compliance with the Listing Rules and does not constitute an invitation to acquire securities[3].

BEIJING, Sept. 9, 2024 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX: 2390) ("Zhihu" or the "Company"), a leading online content community in China, today announced that it has commenced 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")) at an offer price of HK$9.11 per Class A ordinary share (equivalent of US$3.50 per ADS). Assuming that the maximum number of securities that can be accepte ...

Financial Data and Key Metrics - Gross margin increased by 5.8 percentage points year-over-year to 59.6% [5] - Total operating expenses decreased by more than RMB 140 million year-over-year, including a reduction of RMB 120 million in marketing expenses [5] - Adjusted net loss declined by 79.9% year-over-year to RMB 44.6 million, marking the lowest quarterly loss since the U.S. IPO [5] - Marketing services revenue decreased by 16.7% year-over-year to RMB 344 million, with brand advertising and performance-based advertising growing by 17% and 28.4% respectively [13] - Paid membership revenue decreased slightly by 3.7% year-over-year to RMB 432.7 million, with the number of subscribing members growing by 4.7% year-over-year to 14.7 million [16][22] - Vocational training revenue decreased to RMB 133.6 million, primarily due to strategic refinements in acquired businesses [18][22] - Gross profit for the quarter was RMB 556.5 million, with a gross margin of 59.6%, the highest since the U.S. IPO [22] - Total operating expenses decreased by 16.7% year-over-year to RMB 740.4 million, with selling and marketing expenses down by 22.9% and R&D expenses down by 11.4% [23] - GAAP and non-GAAP net losses narrowed by 71.1% and 79.9% year-over-year respectively [23] Business Line Performance - Marketing services revenue declined by 16.7% year-over-year, but brand and performance-based advertising showed robust growth [13] - Paid membership revenue grew to 46% of total revenue, driven by a 4.7% increase in subscribing members [16] - Vocational training GMV grew by over 50% year-over-year, with AI and AGI-related programs receiving positive feedback [19] - The number of premium content creators earning income increased by 77.4% year-over-year [17] Market and User Engagement - Cumulative content on Zhihu reached 830.9 million, a 16.8% year-over-year increase, with content creators growing by 12.5% to 74.9 million [7] - User engagement during the Gaokao period saw double-digit growth in response rates [8] - Paris Olympics-related content views exceeded 600 million, with over 500,000 discussions [9] - Average daily engagements per year grew by nearly 40% year-over-year, with monthly average upwards increasing by over 47% year-over-year [9] - Zhihu Zhida's total visits increased by 430% in July compared to June, with user retention doubling by the end of July [11] Strategic Direction and Industry Competition - The company is focusing on AI-powered products, with the launch of Zhihu Zhida marking a significant milestone in AI search initiatives [6][10] - Zhihu Zhida's integration with content creators and emphasis on human-centric content differentiates it from other AI-driven search products [10] - The company aims to enhance user experience and operational efficiency through AI technologies [12] - Strategic focus on high-margin self-operated vocational training programs and AI-related offerings [17][19] Management Commentary on Operating Environment and Future Outlook - Management remains confident in achieving quarterly profitability targets, with a focus on improving user experience and operational efficiency [20] - The company plans to achieve non-GAAP net profit in the fourth quarter of 2024 [27] - Management highlighted the importance of high-quality content and user retention in maintaining a stable user base [30] - The company is optimistic about the commercialization potential of AI search but is currently focused on improving user experience [32] Other Important Information - The company has cash and cash equivalents of RMB 5.1 billion as of June 30, 2024 [24] - Zhihu Zhida's multi-round response capability outperformed market peers, earning high praise from professionals [11] - The company is preparing to launch Zhihu Zhida on mobile platforms, with features still in development [32] Q&A Session Summary Question: Progress on achieving breakeven target - The company plans to achieve non-GAAP net profit in the fourth quarter of 2024, with significant progress in reducing losses [27] Question: User base stability and AI search progress - User retention has improved due to high-quality content and in-depth content cultivation [30] - Zhihu Zhida has seen significant improvements in user retention and engagement, with commercialization not being the current priority [32] Question: Advertising performance during 618 - Brand and performance-based advertising showed strong growth, driven by high-value user engagement and professional discussion forums [35][36] Question: Growth drivers for paid user base - Growth is driven by expanding user base through co-brand memberships and distribution channels, as well as enriching membership benefits [39] Question: Future of vocational training business - The company is focusing on improving efficiency and accelerating loss reduction in vocational training, with a long-term focus on synergy with the community [42][43]

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BEIJING, Aug. 22, 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 June 30, 2024.Second Quarter 2024 HighlightsTotal revenues were RMB933.8 million (US$128.5 million) in the second quarter of 2024, compared with RMB1,044.2 million in the same period of 2023.Gross margin expanded to 59.6% in the second quarter of 2024 from 53.8% in the same period of 2023.Net lo ...