Zhihu Inc. is a Cayman Islands holding company with no equity ownership in its VIEs and their subsidiaries and not a Chinese operating company. We conduct our operations in China through (i) our PRC subsidiaries and (ii) the VIEs, with which we have maintained contractual arrangements, and their subsidiaries. PRC laws and regulations restrict and impose conditions on foreign investment in value-added telecommunication services and certain other businesses. Accordingly, we operate these businesses in China through the VIEs and their subsidiaries, and rely on contractual arrangements among our PRC subsidiaries, the VIEs, and their nominee shareholders to direct the business operations of the VIEs. Such structure enables investors to share economic interests in China-based companies in sectors where foreign direct investment is prohibited or restricted under PRC laws and regulations. Revenues contributed by the VIEs accounted for 27.4%, 25.9%, and 43.0% of our total revenues in 2020, 2021, and 2022, respectively. As used in this annual report, “we,” “our company,” or “Zhihu” refers to Zhihu Inc., its subsidiaries, and, in the context of describing our operations and consolidated financial information, the VIEs in China, including Beijing Zhizhe Tianxia Technology Co., Ltd., or Zhizhe Tianxia, Shanghai Pinzhi Education Technology Co., Ltd., or Shanghai Pinzhi, and Shanghai Biban Network Technology Co., Ltd., or Shanghai Biban. Investors in the ADSs are not purchasing any equity interest in the VIEs in China but instead are purchasing equity interest in a holding company incorporated in the Cayman Islands, and may never directly hold equity interests in the VIEs in China.
Company profile
Ticker
ZH
Exchange
Website
CEO
Yuan Zhou
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
ZH stock data
Latest filings (excl ownership)
6-K
Zhihu Inc. Announces Plan to Implement ADS Ratio Change
26 Apr 24
F-6 POS
Automatic registration for ADRs (post-effective amendment, foreign)
26 Apr 24
6-K
Current report (foreign)
26 Apr 24
20-F
2023 FY
Annual report (foreign)
26 Apr 24
6-K
Current report (foreign)
15 Apr 24
6-K
Current report (foreign)
8 Apr 24
6-K
Zhihu Inc. Reports Unaudited Fourth Quarter and Fiscal Year 2023 Financial Results
26 Mar 24
6-K
Current report (foreign)
13 Mar 24
6-K
Current report (foreign)
11 Mar 24
6-K
Zhihu Inc. Appoints New Chief Financial Officer
20 Feb 24
Transcripts
ZH
Earnings call transcript
2022 Q3
30 Nov 22
ZH
Earnings call transcript
2022 Q2
30 Aug 22
ZH
Earnings call transcript
2022 Q1
25 May 22
ZH
Earnings call transcript
2021 Q4
14 Mar 22
ZH
Earnings call transcript
2021 Q3
22 Nov 21
ZH
Earnings call transcript
2021 Q2
16 Aug 21
ZH
Earnings call transcript
2021 Q1
17 May 21
Latest ownership filings
SC 13D/A
ACCESS INDUSTRIES MANAGEMENT, LLC
20 Feb 24
SC 13G/A
QIMING VENTURE PARTNERS III, L.P.
8 Feb 24
SC 13D/A
Tencent Holdings Ltd
1 Feb 24
SC 13G/A
Innovation Works Development Fund, L.P.
22 Jan 24
SC 13G/A
QIMING VENTURE PARTNERS III, L.P.
14 Feb 23
SC 13G/A
Innovation Works Development Fund, L.P.
8 Feb 23
SC 13G/A
Capital Today Evergreen Fund, L.P.
8 Feb 23
SC 13G/A
SAIF IV Mobile Apps (BVI) Ltd
31 Jan 23
SC 13D
ACCESS INDUSTRIES MANAGEMENT, LLC
16 May 22
SC 13D
Zhou Yuan
20 Apr 22
Financial summary
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | |
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Revenue | |||
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Operating margin | |||
Net income | |||
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Diluted EPS |
Institutional ownership, Q2 2023
39.8% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 54 |
Opened positions | 7 |
Closed positions | 18 |
Increased positions | 10 |
Reduced positions | 13 |
13F shares | Current |
---|---|
Total value | 82.41 bn |
Total shares | 224.72 mm |
Total puts | 2.60 k |
Total calls | 21.40 k |
Total put/call ratio | 0.1 |
Largest owners | Shares | Value |
---|---|---|
TCEHY Tencent | 38.07 mm | $319.76 mm |
Zhou Yuan | 36.85 mm | $94.35 mm |
Qiming Venture Partners Iii | 22.95 mm | $0.00 |
Kuaishou Technology | 19.98 mm | $110.67 mm |
Innovation Works Development Fund | 16.64 mm | $0.00 |
SAIF IV Mobile Apps | 15.03 mm | $0.00 |
Matthews International Capital Management | 14.54 mm | $16.43 bn |
GS Goldman Sachs | 13.74 mm | $15.52 bn |
BAC Bank Of America | 7.17 mm | $8.10 bn |
Point72 Hong Kong | 6.86 mm | $7.75 bn |
News
Zhihu Inc. Announces Plan To Implement ADS Ratio Change From 2 ADS Representing 1 Common Share To A Ratio Of 1 ADS Representing 3 Common Shares, Effective On Or About May 10, 2024
26 Apr 24
Why Zhihu Shares Are Rising Today
26 Mar 24
Zhihu Q4 Adj. EPADS $(0.02) Beats $(0.04) Estimate, Sales $160.32M Beat $148.11M Estimate
26 Mar 24
Zhihu Reported Q4 MAU of 99.0M, Monthly Subscribing Members of 14.2M, up by 9.2% YoY
26 Mar 24
Earnings Scheduled For March 26, 2024
26 Mar 24
Press releases
Zhihu Inc. Announces Plan to Implement ADS Ratio Change
26 Apr 24
Zhihu Inc. Files Its 2023 Annual Report on Form 20-F
26 Apr 24
Zhihu Inc. Reports Unaudited Fourth Quarter and Fiscal Year 2023 Financial Results
26 Mar 24
Zhihu Inc. to Report Fourth Quarter and Full Year 2023 Financial Results on March 26, 2024
13 Mar 24
Qiming Venture Partners Becomes a UN PRI Signatory
25 Feb 24