BEIJING, Aug. 9, 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 June 30, 2024 after the U.S. market closes on August 22, 2024.The Company's management will host a conference call at 8:00 P.M. U.S. Eastern Time on Thursday, August 22, 2024 (8:00 A.M. Beijing/Hong Kong Time on Friday, August 23, 2024) to discuss the results.All participants ...

BEIJING, June 26, 2024 /PRNewswire/ -- Zhihu Inc. (NYSE: ZH; HKEX: 2390) ("Zhihu" or the "Company"), a leading online content community in China, today announced that each of the proposed resolutions submitted for shareholders' approval (the "Proposed Resolutions") as set forth in the notice of annual general meeting dated May 30, 2024 (the "AGM Notice") has been adopted at its annual general meeting of shareholders held in Beijing, China today.After the adoption of the Proposed Resolutions, all corporate a ...

Investment Rating - Maintain BUY rating with a target price of US$7 9 [2][4] Core Views - Zhihu delivered better-than-feared 1Q24 results with revenue down 3 4% YoY but 4% above consensus and adjusted net loss of RMB136mn vs consensus of RMB180mn [2] - Vocational training revenue was resilient at +36% YoY in 1Q24 while membership revenue decelerated to +1% YoY [2] - The company is prioritizing higher efficiency and aims for quarterly breakeven in 4Q24E with expected short-term volatility in user metrics and revenue [2] - Revenue forecast for FY24-26E was trimmed by 6 4%-7 0% and adjusted NPM was cut by 0 9-3 9ppts [2] Financial Performance - 1Q24 revenue was RMB961mn down 3 4% YoY with gross margin at 56 6% [8] - Adjusted net loss narrowed to RMB136mn in 1Q24 with adjusted NPM at -14% vs consensus of -19% [2] - Revenue breakdown for 1Q24 shows marketing services at RMB331mn (-16% YoY) paid membership at RMB450mn (-1% YoY) and vocational training at RMB145mn (+36% YoY) [9] Revenue and Profit Forecasts - FY24E revenue is forecasted at RMB3 532mn a 15 9% YoY decline with FY25E and FY26E revenue expected to grow 8 3% and 6 9% respectively [3] - Adjusted net profit is expected to improve from a loss of RMB347 7mn in FY24E to a profit of RMB59 0mn in FY25E and RMB125 7mn in FY26E [3] - Gross margin is projected to improve from 55 0% in FY24E to 56 1% in FY26E [14] Valuation and Share Performance - DCF-based target price adjusted to US$7 9 with an upside potential of 148 7% from the current price of US$3 18 [4] - Share performance shows a 1-month decline of 18 0% and a 6-month decline of 43 5% [5] Business Segments - Marketing services revenue is expected to decline 25% YoY in 2Q24E while paid membership revenue is forecasted to decline 4% YoY [2] - Vocational training revenue is expected to decline 7% YoY in 2Q24E as the company focuses on high-quality development and shrinks low-margin subjects [2] Efficiency and Cost Management - Group gross margin is expected to improve by 2 5ppts YoY in 2Q24E driven by disciplined expenses and operational efficiency [2] - Operating expenses are forecasted to decline with a focus on cost control and higher efficiency [2]

design master/iStock via Getty Images Elevator Pitch Zhihu Inc. (NYSE:ZH) [2390:HK] shares are awarded a Hold investment rating. My prior update written on December 10, 2023 was focused on the review of Zhihu's Q3 2023 financial results. I turn my attention to ZH's most recent financial disclosures for the first quarter of 2024 with this latest article. There are mixed takeaways from Zhihu's latest results. On one hand, ZH's Q1 revenue beat expectations, and the vocational training business' growth prospect ...

♪ The. Ladies and gentlemen, Thank you for standing by and welcome to Zhihu Inc. First Quarter 2024 Financial Results Conference Call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. Today's conference is being recorded. At this time, I would like to turn the conference over to Yolanda Liu, Director of Investor Relations. Please go ahead, ma'am. Thank you, operator. Hello, everyone. Welcome to Zhihu's first quarter 20 ...

Financial Data and Key Metrics Changes - The company recorded a GAAP net loss of RMB165.8 million for Q1 2024, narrowing by 7.4% year-over-year, while the non-GAAP net loss was RMB135.7 million [21] - Gross profit for Q1 increased by 6.1% year-over-year to RMB543.5 million, with a gross profit margin improvement of 5.1 percentage points year-over-year to 56.6% [20] - Total operating expenses for the quarter were RMB768.2 million, compared to RMB729.0 million in the same period last year [21] Business Line Data and Key Metrics Changes - Vocational training revenue increased by 35.9% year-over-year to RMB145.4 million, contributing over 15% to total revenue for the first time [12] - Paid membership revenue reached RMB449.7 million, with an average monthly subscribing member count of 14.8 million, showing a slight decrease of 0.8% year-over-year but an increase of 4.1% quarter-on-quarter [14] - Marketing services revenue decreased by 15.7% year-over-year to RMB330.5 million, although brand advertising revenue increased by 40% year-over-year [17][19] Market Data and Key Metrics Changes - The cumulative business of content on the platform reached 804.2 million, including 611 million Q&As, up 15.4% year-over-year [7] - The number of content creators earning income on Zhihu grew by over 25% year-over-year, with the number of creators benefiting from the monetization plan nearly quadrupling compared to the same period last year [8] - The number of AI creators certified by Blue Label increased by 130% year-over-year, indicating a surge in AI-related content and creator engagement [11] Company Strategy and Development Direction - The company is focusing on achieving profitability in the short term, with a strategic emphasis on high-quality content and user value in the AI era [5][6] - The company aims to enhance operational efficiency through AI-driven technology and has made significant investments in AI capabilities [10][11] - The strategy includes a proactive reduction in community-related user acquisition costs while maintaining a higher ROI in pay membership and vocational training businesses [9] Management's Comments on Operating Environment and Future Outlook - Management expects to achieve quarterly non-GAAP net profit by Q4 2024, with ongoing improvements in operational metrics [24] - The shift from the Internet era to the AI era is seen as a fundamental change, emphasizing the importance of high-quality content and top-tier users [25] - Management believes that the community's trustworthiness and the integration of AI search features will drive sustainable growth [18][34] Other Important Information - The company repurchased 4.8 million A ordinary shares for a total price of $8 million during the first quarter [22] - The company has cash and cash equivalents of RMB1.2 billion as of March 31, 2024, down from RMB5.5 billion at the end of 2023 [22] Q&A Session Summary Question: Update on timetable to achieve quarterly breakeven - Management expects to achieve quarterly non-GAAP net profit in Q4 2024, with notable improvements starting from Q2 2024 [24] Question: User trends post selling and marketing strategy adjustments - Core user retention rates have maintained growth momentum, and daily active user engagement has increased significantly [28] Question: Recent developments in AI publications and user activity - The beta version of the AI search feature has shown promising results, with users becoming notably more active [34] Question: Long-term growth outlook for vocational training business - The vocational training business is expected to continue outperforming the industry, driven by community-enabled self-operated offerings [38] Question: Membership business competition landscape - Zhihu remains a leader in the membership segment, with a significant number of content creators returning to the platform [41]

♪ The. Ladies and gentlemen, Thank you for standing by and welcome to Zhihu Inc. First Quarter 2024 Financial Results Conference Call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. Today's conference is being recorded. At this time, I would like to turn the conference over to Yolanda Liu, Director of Investor Relations. Please go ahead, ma'am. Thank you, operator. Hello, everyone. Welcome to Zhihu's first quarter 20 ...

ლელელელელელელელელელელელელელელელელელელელელელელელელელელელელელელელელელელელელე� ♪♪♪ ♪♪♪ ទᾶ ទᾶ ទᾶ ទᾶ ទᾶ ទᾶ ទᾶ Ladies and Gentlemen, Thank you for standing by and welcome to Zhihu Inc. First Quarter 2024 Financial Results Conference Call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. Today's conference is being recorded. At this time, I would like to turn the conference over to Yolanda Liu, Director of Investor Relations. ...

BEIJING, June 12, 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 March 31, 2024.First Quarter 2024 HighlightsTotal revenues were RMB960.9 million (US$133.1 million) in the first quarter of 2024, compared with RMB994.2 million in the same period of 2023.Gross margin expanded to 56.6% in the first quarter of 2024 from 51.5% in the same period of 2023.Net loss w ...

Financial Performance - Total revenue for Q1 2024 was RMB 960.9 million (USD 133.1 million), a decrease from RMB 994.2 million in Q1 2023[6] - Gross margin increased from 51.5% in Q1 2023 to 56.6% in Q1 2024[6] - Net loss narrowed to RMB 165.8 million (USD 23.0 million) in Q1 2024, compared to RMB 179.0 million in Q1 2023[8] - Paid subscription revenue was RMB 449.7 million (USD 62.3 million), slightly down from RMB 454.8 million in Q1 2023[7] - Revenue from vocational training grew by 35.9% to RMB 145.4 million (USD 20.1 million) in Q1 2024, up from RMB 107.0 million in Q1 2023[7] - Operating expenses totaled RMB 768.2 million (USD 106.4 million) in Q1 2024, compared to RMB 729.0 million in Q1 2023[7] User Engagement - Average monthly active users (MAUs) reached 89.0 million in Q1 2024[6] - The company is focusing on improving the trustworthiness of its community to drive user engagement and retention[6] - Monthly active users are defined as the number of unique mobile devices that activated the mobile app at least once in a specified month[10] Share Repurchase Program - As of March 31, 2024, the company repurchased 31.1 million Class A ordinary shares under the existing $100 million share repurchase program, totaling $66.5 million[9] - The board has approved an extension of the 2022 repurchase plan until June 26, 2025, pending shareholder approval at the upcoming annual meeting[9] - The proposed repurchase authorization allows for the buyback of up to 10% of the company's issued shares as of the approval date, excluding treasury shares[9] - The company plans to fund any repurchases using existing cash reserves[9] Financial Metrics and Adjustments - Non-GAAP financial measures, such as adjusted operating loss and adjusted net loss, are used to supplement the review and assessment of the company's operating performance[13] - The adjusted operating loss for the three months ended March 31, 2023, was RMB 157,336 thousand, compared to RMB 165,293 thousand for the previous quarter[23] Future Plans and Events - The company aims to achieve profitability through enhanced operational efficiency and reduced losses[6] - The company will hold an earnings conference call on June 12, 2024, at 7:00 AM Eastern Time[11] - The company will change the ratio of American Depositary Shares (ADS) to Class A ordinary shares from two ADS to one Class A share to three ADS to one Class A share effective May 10, 2024[10] Historical Financial Data - Total revenue for the three months ended March 31, 2023, was RMB 994,220 thousand, a decrease of 12.7% from RMB 1,138,297 thousand for the three months ended December 31, 2022[16] - The number of paid members for professional training was 145,436, compared to 169,272 in the previous quarter, indicating a decline of 14.1%[16] - Gross profit for the three months ended March 31, 2023, was RMB 512,219 thousand, down from RMB 673,100 thousand in the previous quarter, representing a decrease of 24%[16] - Operating loss for the three months ended March 31, 2023, was RMB 216,744 thousand, compared to a loss of RMB 178,158 thousand for the three months ended December 31, 2022[16] - Net loss attributable to Zhihu shareholders for the three months ended March 31, 2023, was RMB 181,355 thousand, compared to a loss of RMB 103,771 thousand in the previous quarter[16] - Total assets as of December 31, 2022, were RMB 6,795,272 thousand, a slight increase from RMB 6,535,376 thousand as of March 31, 2023[22] - Total liabilities as of March 31, 2023, were RMB 2,093,662 thousand, compared to RMB 2,027,808 thousand as of December 31, 2022[22] - The company reported a basic and diluted net loss per share of RMB (0.59) for the three months ended March 31, 2023[18] - Cash and cash equivalents as of December 31, 2022, were RMB 2,106,639 thousand, showing a decrease to RMB 2,194,419 thousand as of March 31, 2023[22]