Core Viewpoint - Zhihu's stock opened up by 5.31% on August 19, with a total market capitalization of $455 million, despite a year-over-year revenue decline of 24.06% to 730 million RMB as of March 31, 2025, while net profit attributable to shareholders increased by 93.88% to -10.094 million RMB [1][2]. Group 1: Company Overview - Zhihu is a leading online content community in China, evolving from a Q&A platform to one of the largest integrated content communities since its launch in 2010 [2][3]. - The company is dual-listed on the New York Stock Exchange (NYSE: ZH) and the Hong Kong Stock Exchange (HKEX: 2390) [2]. Group 2: Business Model and Strategy - Zhihu focuses on expanding 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 creators and users, fostering a positive cycle of interaction and knowledge sharing [3]. Group 3: Community and User Engagement - Zhihu emphasizes user experience and community governance, which strengthens its brand and attracts more users and content creators [3]. - The company has developed diversified monetization channels, including marketing services, paid memberships, and vocational training, enhancing its leadership position in the industry [3].