8月19日，知乎(ZH)盘中上涨4.8%，截至22:20，报5.135美元/股，成交284.13万美元，总市值4.53亿美 元。 财务数据显示，截至2025年03月31日，知乎收入总额7.3亿人民币，同比减少24.06%；归母净利 润-1009.4万人民币，同比增长93.88%。 大事提醒： 8月27日，知乎将于(美东)盘前披露2025财年中报（数据来源于纳斯达克官网，预计披露日期为美国当 地时间，实际披露日期以公司公告为准）。 资料显示，知乎是一家领先的在线内容社区,人们来到这里寻找解决方案、作出决定、寻求灵感并获得 乐趣。 自2010年首次上线以来,知乎已发展成为中国顶级的综合在线内容社区之一,更是全国最大的在线 问答社区。 同时,知乎目前是纽约证券交易所(NYSE: ZH)和香港证券交易所(HKEX: 2390)的双重主要上 市公司。 公司一直致力于扩展内容和服务,来满足用户、内容创作者和商业合作伙伴们多样化的需求。 公司在发 展过程中确立了以内容为中心的业务模式,并将其不断发展优化。 目前,公司已从一家问答社区发展成为 中国最大的综合在线内容社区之一。 在知乎上,公司的用户探索和欣赏能够开阔视野、提供 ...

豆瓣重申，用户账号在豆瓣影视评分的可信度是基于豆瓣社区的真实用户大数据计算所得，以养号或广 告目的发布的垃圾内容将会被算法识别，评分会被剔除，账号会面临相应处罚。 经过调查核实，豆瓣共处理违规账号2272个，剔除虚假垃圾内容包括短评348674条，剧评5701篇。豆瓣 强调将持续使用技术和人工相结合的方式维护真实的评分评论，并呼吁用户发现类似滥用产品功能或垃 圾内容时向豆瓣投诉反馈。 经济观察网 豆瓣官方于2025年8月7日发布公告，针对平台内出现的水军养号和AI生成垃圾内容的问题 进行了处理。 公告指出，豆瓣根据用户反馈和管理巡查，发现一批账号存在明显的养号行为，这些账号在多个影视和 图书条目下发布了大量垃圾内容，包括短评和长评等，其中部分垃圾内容疑似使用AI生成。 ...

Core Viewpoint - Zhihu, a leading online content community in China, is experiencing a decline in revenue while showing significant improvement in net profit, indicating a shift in its financial dynamics [1][2]. Financial Performance - As of March 31, 2025, Zhihu's total revenue is 730 million RMB, representing a year-on-year decrease of 24.06% [1]. - The company's net profit attributable to shareholders is -10.094 million RMB, which shows a year-on-year increase of 93.88% [1]. Company Overview - Zhihu has evolved since its launch in 2010 into one of China's top integrated online content communities and the largest online Q&A platform [2]. - The company is dual-listed on the New York Stock Exchange (NYSE: ZH) and the Hong Kong Stock Exchange (HKEX: 2390) [2]. Business Model and Strategy - Zhihu focuses on expanding its content and services to meet the diverse needs of users, content creators, and business partners [2]. - The company has established a content-centric business model that continues to evolve and optimize [2]. - Zhihu aims to create a balanced ecosystem between content creation by creators and content consumption by users, fostering a positive feedback loop [3]. Community Engagement - The company emphasizes user interaction with content creators, sharing knowledge and experiences, which contributes to a diverse content ecosystem [3]. - Zhihu's strong community culture and brand enhance its content ecosystem, attracting and retaining more users and content creators [3]. Monetization Channels - The company has developed diversified monetization channels, including marketing services, paid memberships, and vocational training, which are continuously enriched [3].

Core Viewpoint - Zhihu, a leading online content community in China, is experiencing a decline in revenue while showing significant improvement in net profit margins as it prepares to release its mid-year financial report for FY2025 [2][3]. Financial Performance - As of March 31, 2025, Zhihu reported total revenue of 730 million RMB, a year-over-year decrease of 24.06% [1]. - The company recorded a net profit attributable to shareholders of -10.094 million RMB, which represents a year-over-year increase of 93.88% [1]. Company Overview - Founded in 2010, Zhihu has evolved into one of China's largest integrated online content communities, primarily known for its question-and-answer format [2]. - The company is dual-listed on the New York Stock Exchange (NYSE: ZH) and the Hong Kong Stock Exchange (HKEX: 2390) [2]. Business Model and Strategy - Zhihu focuses on expanding its content and services to meet the diverse needs of users, content creators, and business partners, establishing a content-centric business model [2][3]. - The company aims to create a balanced ecosystem between content creation by creators and content consumption by users, fostering a positive feedback loop [3]. Community Engagement - Active interaction between users and content creators enhances the user experience and strengthens community governance, contributing to a professional and friendly community culture [3]. - The strong brand and community culture help attract and retain more users and content creators, reinforcing the content ecosystem [3]. Monetization Channels - Zhihu has developed diversified monetization channels, including marketing services, paid memberships, and vocational training, which are continuously enriched as the company grows [3].

Core Viewpoint - Zhihu, a leading online content community in China, is focusing on expanding its content and services to meet the diverse needs of users, content creators, and business partners, despite a decline in revenue and a significant increase in net profit [1][2]. Financial Performance - As of March 31, 2025, Zhihu reported total revenue of 730 million RMB, a year-on-year decrease of 24.06% [1]. - The company achieved a net profit attributable to shareholders of -10.094 million RMB, which represents a year-on-year increase of 93.88% [1]. Company Overview - Zhihu has evolved from a Q&A platform into one of China's largest integrated online content communities since its launch in 2010 [1]. - The company is dual-listed on the New York Stock Exchange (NYSE: ZH) and the Hong Kong Stock Exchange (HKEX: 2390) [1]. Content Ecosystem - Zhihu aims to create a balanced ecosystem between content creators and users, fostering a virtuous cycle centered around content [2]. - The company emphasizes user interaction and community governance, which enhances user experience and strengthens community culture [2]. - Zhihu has developed diverse monetization channels, including marketing services, paid memberships, and vocational training, contributing to its leadership position in the industry [2].

Core Viewpoint - Zhihu, a leading online content community in China, is focusing on expanding its content and services to meet the diverse needs of users, content creators, and business partners, despite a decline in revenue and a significant increase in net loss [1][2]. Financial Performance - As of March 31, 2025, Zhihu reported total revenue of 730 million RMB, a year-on-year decrease of 24.06% - The net loss attributable to shareholders was 10.094 million RMB, which represents a year-on-year increase of 93.88% [1]. Company Overview - Zhihu has evolved from a Q&A platform to one of China's largest integrated online content communities since its launch in 2010 - The company is dual-listed on the New York Stock Exchange (NYSE: ZH) and the Hong Kong Stock Exchange (HKEX: 2390) [1]. Content Ecosystem - The company aims to create a balanced ecosystem between content creators and users, fostering a virtuous cycle centered around content - Active interaction between users and content creators enhances the community culture, which is characterized by professionalism and friendliness [2]. User Experience and Monetization - Zhihu's deep insights into content and user behavior play a crucial role in improving user experience and maintaining robust community governance - The company has developed diversified monetization channels, including marketing services, paid memberships, and vocational training, which are continuously enriched [2].

Group 1 - The core viewpoint of the articles highlights that Zhihu, a leading online content community in China, is experiencing a decline in revenue while simultaneously improving its net profit, indicating a shift in its business model and operational efficiency [1][2]. - As of March 31, 2025, Zhihu reported total revenue of 730 million RMB, a year-on-year decrease of 24.06%, while its net profit attributable to shareholders was -10.094 million RMB, reflecting a significant year-on-year increase of 93.88% [1]. - Zhihu has evolved from a Q&A platform to one of China's largest integrated online content communities, focusing on a content-centric business model to meet the diverse needs of users, content creators, and business partners [1][2]. Group 2 - The company aims to establish a balanced ecosystem between content creators and users, fostering a virtuous cycle centered around content [2]. - Active interaction between users and content creators enhances the user experience and strengthens community governance, which is crucial for maintaining a professional and friendly community culture [2]. - Zhihu has developed diversified monetization channels, including marketing services, paid memberships, and vocational training, which are continuously enriched as the company grows [2].

Core Insights - Zhihu's stock opened at $4.1 per share, with a market capitalization of $362 million as of June 9 [1] - The company's total revenue for the fiscal year ending March 31, 2025, is projected to be 730 million RMB, a year-on-year decrease of 24.06%, while the net profit attributable to shareholders is expected to be -10.094 million RMB, an increase of 93.88% year-on-year [1] Company Overview - Zhihu is a leading online content community in China, established in 2010, and has evolved into the largest online Q&A community in the country [1] - The company is dual-listed on the New York Stock Exchange (NYSE: ZH) and the Hong Kong Stock Exchange (HKEX: 2390) [1] - Zhihu focuses on expanding its content and services to meet the diverse needs of users, content creators, and business partners [1] Business Model and Ecosystem - The company aims to create a balanced ecosystem between content creators and users, fostering a positive cycle centered around content [2] - Active interaction between users and content creators enhances the community's culture, which is characterized by professionalism and friendliness [2] - Zhihu has developed diversified monetization channels, including marketing services, paid memberships, and vocational training, reinforcing its leadership position in the industry [2]

Core Viewpoint - Zhihu's financial performance shows a decline in total revenue while experiencing significant growth in net profit, indicating a shift in business dynamics and potential areas for improvement [1][2]. Financial Performance - As of December 31, 2024, Zhihu's total revenue is 3.599 billion RMB, representing a year-on-year decrease of 14.29% [1]. - The net profit attributable to the parent company is -172 million RMB, which marks a year-on-year increase of 79.64% [1]. Company Overview - Zhihu is a leading online content community in China, established in 2010, and has evolved into the largest online Q&A community in the country [2]. - The company is dual-listed on the New York Stock Exchange (NYSE: ZH) and the Hong Kong Stock Exchange (HKEX: 2390) [2]. - Zhihu focuses on expanding its content and services to meet the diverse needs of users, content creators, and business partners [2]. Content Ecosystem - The company aims to create a balanced ecosystem between content creators and users, fostering a positive cycle centered around content [3]. - Active interaction between users and content creators enhances user experience and strengthens community governance, contributing to a professional and friendly community culture [3]. - Zhihu has developed diversified monetization channels, including marketing services, paid memberships, and vocational training, which are continuously enriched as the company grows [3].

Core Insights - The total revenue for Zhihu (02390.HK) in Q1 2025 was RMB 730 million (USD 100.6 million), a decrease from RMB 960.9 million in the same period of 2024 [1] - The gross margin improved from 56.6% in Q1 2024 to 61.8% in Q1 2025 [1] Financial Performance - Q1 2025 total revenue: RMB 730 million (USD 100.6 million) [1] - Q1 2024 total revenue: RMB 960.9 million [1] - Q1 2025 gross margin: 61.8% [1] - Q1 2024 gross margin: 56.6% [1]