Core Insights - Zhihu Inc. reported a decline in both quarterly and annual revenues for 2025, indicating challenges in maintaining profitability [1][2] - The company experienced a significant net loss in Q4 2025 compared to a net income in the same quarter of the previous year, highlighting a deterioration in financial performance [2] Financial Performance - For Q4 2025, total revenues were RMB643.5 million (US$92.0 million), down from RMB859.2 million in Q4 2024, reflecting a year-over-year decrease [1] - Gross margin for Q4 2025 declined to 53.6% from 62.9% in the prior year, indicating weaker profitability [1] - The net loss for Q4 2025 was RMB210.8 million (US$30.1 million), compared to a net income of RMB86.4 million in Q4 2024 [2] - Adjusted net loss for Q4 2025 was RMB39.4 million (US$5.6 million), contrasting with an adjusted net income of RMB97.1 million in Q4 2024 [2] Annual Results - For the full year 2025, Zhihu reported total revenues of RMB2.749 billion (US$393.1 million), down from RMB3.599 billion in 2024 [2] - Full-year gross margin was 59.9%, slightly down from 60.6% in 2024 [3] - The full-year net loss was RMB195.2 million (US$27.9 million), while the company achieved an adjusted net income of RMB37.9 million (US$5.4 million), compared to an adjusted net loss in 2024 [3] - At the end of 2025, Zhihu had RMB4.451 billion (US$636.5 million) in cash and cash equivalents, indicating a strong liquidity position [3] Market Position - Zhihu remains a significant online content community in China and is dual-listed on the NYSE (ZH) and HKEX (2390) [3]

Core Viewpoint - Zhihu Inc. will report its unaudited financial results for the quarter ended March 31, 2025, on May 27, 2025, before the U.S. market opens [1] Group 1 - The conference call to discuss the financial results will take place at 8:00 A.M. U.S. Eastern Time on May 27, 2025 [1] - Participants must pre-register online to join the conference call and will receive dial-in numbers and a unique access PIN [2] - A live and archived webcast of the conference call will be available on the Company's investor relations website [2] Group 2 - 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 [3] - The Company is recognized as the largest Q&A-inspired online content community in China [3]