ZHIHU(ZH) 华夏时报·2025-03-27 13:28Core Insights - Zhihu has achieved profitability for the first time since its IPO, reporting a net profit of 86.4 million yuan in Q4 2024, compared to a net loss of 103 million yuan in the same period of 2023 [1][2] - The company is focusing on integrating AI into its operations, viewing it as a historic opportunity for growth, despite the potential for slight annual losses as it pursues AI-related opportunities [1][6] Financial Performance - Total revenue for Q4 2024 was 859 million yuan, down 24.52% from 1.138 billion yuan in Q4 2023 [2] - Paid membership revenue decreased slightly to 420 million yuan in Q4 2024 from 456 million yuan in the same period last year, with an average monthly subscriber count of 14.1 million [2] - Marketing services revenue fell to 316 million yuan in Q4 2024 from 465 million yuan in Q4 2023, attributed to strategic optimization of service products [3] - The cost of revenue decreased by 31.5% to 319 million yuan in Q4 2024, down from 465 million yuan in the same period of 2023 [3] Strategic Focus - The company is investing heavily in AI, enhancing its self-developed large model "Zhihai Map AI" and improving its AI search product "Zhihu Direct Answer" [6][8] - The integration of AI is expected to enhance the quality of content and user interaction, with a focus on leveraging the expert network within the community [6][8] - The CEO emphasized that AI will not replace Zhihu but will instead promote its development by enhancing the credibility and efficiency of content production [6][7] Future Outlook - The CFO indicated that the company may opt for a slight annual loss in pursuit of AI opportunities, reflecting a long-term growth strategy [1] - The company holds a strong cash position of 4.86 billion yuan as of the end of Q4 2024, providing a buffer for future investments [5]