UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2024
Commission File Number: 001-40253
Zhihu Inc.
(Registrant’s Name)
18 Xueqing Road
Haidian District,
Beijing 100083
People’s Republic
of China
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
Zhihu Inc. |
| |
|
|
|
| |
By |
: |
/s/ Han Wang |
| |
Name |
: |
Han Wang |
| |
Title |
: |
Chief Financial Officer |
| Date:
August 23, 2024 |
|
|
|
Exhibit 99.1
Zhihu Inc. Reports Unaudited Second Quarter
2024 Financial Results
BEIJING,
China, August 23, 2024 — Zhihu Inc. (“Zhihu” or the “Company”) (NYSE: ZH; HKEX:
2390), a leading online content community in China, today announced its unaudited financial results for the quarter ended June 30,
2024.
Second Quarter 2024 Highlights
| · | Total revenues were RMB933.8 million (US$128.5 million) in the second quarter of 2024, compared with RMB1,044.2 million in
the same period of 2023. |
| · | Gross margin expanded to 59.6% in the second quarter of 2024 from 53.8% in the same period of 2023. |
| · | Net loss was RMB80.6 million (US$11.1 million) in the second quarter of 2024, narrowed by 71.1%
from the same period of 2023. |
| · | Adjusted net loss (non-GAAP)[1] was RMB44.6 million (US$6.1 million) in the second quarter
of 2024, narrowed by 79.9% from the same period of 2023. |
| · | Average monthly active users (MAUs)[2] were 80.6 million in the second quarter of 2024. |
| · | Average monthly subscribing members[3] were 14.7 million in the second quarter of 2024. |
“Our
strategic decisions and effective execution yielded impressive financial results in the second quarter of 2024,” said Mr. Yuan
Zhou, chairman and chief executive officer of Zhihu. “At the same time, we made substantial strides in enhancing our core user experience,
evidenced by the continued growth in user retention and DAU time spent. Building on our community’s enhanced trustworthiness, we
launched Zhihu Zhida (知乎直答) in late June, marking a major advancement in our AI search initiatives.
Further improvements in user retention and the positive user feedback Zhihu Zhida has received demonstrate our unique advantages and ability
to capture the tremendous opportunities in this field.”
Mr. Han Wang, chief financial officer of
Zhihu, added, “The second quarter marked our lowest quarterly loss since our U.S. IPO. During the quarter, we maintained disciplined
spending while achieving a high ROI across all business lines. Additionally, we are committed to enhancing shareholder returns through
various means. Moving forward, we will continue to emphasize strong strategic execution as we pursue long-term sustainable profitability.”
Second Quarter 2024 Financial Results
Total revenues
were RMB933.8 million (US$128.5 million) in the second quarter of 2024, compared with RMB1,044.2 million in the same period of 2023.
Marketing
services revenue was RMB344.0 million (US$47.3 million), compared with RMB412.7 million in the same period of 2023. The decrease
was primarily due to our proactive and ongoing refinement of service offerings to strategically focus on margin improvement.
Paid membership
revenue was RMB432.7 million (US$59.5 million), compared with RMB449.1 million in the same period of 2023. The slight decrease
was primarily attributable to a marginal decline in our average revenue per subscribing member.
Vocational
training revenue was RMB133.6 million (US$18.4 million), compared with RMB144.5 million in the same period of 2023. The decrease
was primarily driven by lower revenue contributions from our acquired businesses.
Other revenues
were RMB23.5 million (US$3.2 million), compared with RMB37.9 million in the same period of 2023.
Cost of
revenues decreased by 21.8% to RMB377.3 million (US$51.9 million) from RMB482.1 million in the same period of 2023. The decrease
was primarily due to reduced content and operating costs associated with the decline in our revenues.
Gross profit
was RMB556.5 million (US$76.6 million), compared with RMB562.1 million in the same period of 2023. Gross margin expanded to 59.6%
from 53.8% in the same period of 2023, primarily attributable to our monetization enhancements and improvements in our operating efficiency.
Total operating
expenses decreased by 16.7% to RMB740.4 million (US$101.9 million) from RMB889.3 million in the same period of 2023.
Selling
and marketing expenses decreased by 22.9% to RMB417.0 million (US$57.4 million) from RMB540.6 million in the same period of
2023. The decrease was primarily due to more disciplined promotional spending and a decrease in personnel-related expenses.
Research
and development expenses decreased by 11.4% to RMB209.3 million (US$28.8 million) from RMB236.2 million in the same period
of 2023. The decrease was primarily attributable to more efficient spending on technology innovation.
General
and administrative expenses were RMB114.1 million (US$15.7 million), compared with RMB112.5 million in the same period of 2023.
Loss from
operations narrowed by 43.8% to RMB183.9 million (US$25.3 million) from RMB327.2 million in the same period of 2023.
Adjusted
loss from operations (non-GAAP)[1] narrowed by 45.4% to RMB147.1 million (US$20.2 million) from RMB269.4 million
in the same period of 2023.
Net loss
narrowed by 71.1% to RMB80.6 million (US$11.1 million) from RMB279.1 million in the same period of 2023.
Adjusted
net loss (non-GAAP)[1] narrowed by 79.9% to RMB44.6 million (US$6.1 million) from RMB222.3 million in the same period
of 2023.
Diluted
net loss per American depositary share (“ADS”) [4] was RMB0.89 (US$0.12), compared with RMB2.76 in the
same period of 2023.
Cash and cash equivalents, term deposits, restricted cash and short-term
investments
As of June 30, 2024, the Company had cash and cash equivalents,
term deposits, restricted cash and short-term investments of RMB5,061.5 million (US$696.5 million), compared with RMB5,462.9 million as
of December 31, 2023.
Share Repurchase Programs
As of June 30, 2024, the Company had repurchased
31.1 million Class A ordinary shares (including Class A ordinary shares underlying the ADSs) for a total price of US$66.5 million
on both the New York Stock Exchange and The Stock Exchange of Hong Kong Limited under the Company’s existing US$100 million share
repurchase program (the “2022 Repurchase Program”), established in May 2022 and extended until June 26, 2025. In
addition, a concurrent share repurchase program (the “2024 Repurchase Program”) was established in June 2024, effective
until June 26, 2025. The maximum number of shares (including shares underlying the ADSs) that can be repurchased under the 2024 Repurchase
Program, together with the remaining number of shares (including shares underlying the ADSs) that can be repurchased under the 2022 Repurchase
Program, will not exceed 10% of the total number of issued shares of the Company (excluding any treasury shares) as of June 26, 2024,
the date of the resolution granting the general unconditional mandate to purchase the Company’s own shares approved by shareholders.
[1]
Adjusted loss from operations and adjusted net loss are non-GAAP financial measures. For more information on the non-GAAP
financial measures, please see the section “Use of Non-GAAP Financial Measures” and the table captioned “Unaudited Reconciliations
of GAAP and Non-GAAP Results” set forth at the end of this press release.
[2]
MAUs refers to the sum of the number of mobile devices that launch our mobile apps at least once in a given month, or mobile
MAUs, and the number of logged-in users who visit our PC or mobile website at least once in a given month, after eliminating duplicates.
[3]
Monthly subscribing members refers to the number of our Yan Selection members in a specified month. Average monthly subscribing members
for a period is calculated by dividing the sum of monthly subscribing members for each month during the specified period by the number
of months in such period.
[4]
On May 10, 2024, we effected a change in the ratio of our ADSs to Class A ordinary shares from two ADSs representing
one Class A ordinary share to a new ratio of one ADS representing three Class A ordinary shares. Basic and diluted net loss
per ADS have been retrospectively adjusted to reflect this ADS ratio change for all periods presented.
Conference Call
The Company’s management will host an earnings
conference call at 8:00 p.m. U.S. Eastern Time on August 22, 2024 (8:00 a.m. Beijing/Hong Kong time on August 23,
2024).
All participants wishing to join the conference
call must pre-register online using the link provided below. Once the pre-registration has been completed, each participant will receive
a set of dial-in numbers, a passcode, and a unique registrant ID which can be used to join the conference call. Participants may pre-register
at any time, including up to and after the call start time.
Participant
Online Registration: https://dpregister.com/sreg/10191716/fd413a8bd8
Additionally,
a live and archived webcast of the conference call will be available on the Company’s investor relations website at https://ir.zhihu.com.
A replay of the conference call will be accessible approximately one
hour after the conclusion of the live call, until August 29, 2024, by dialing the following telephone numbers:
| |
United States (toll free): |
+1-877-344-7529 |
| |
International: |
+1-412-317-0088 |
| |
Replay Access Code: |
4215305 |
About Zhihu Inc.
Zhihu
Inc. (NYSE: ZH; HKEX: 2390) is a leading online content community in China where people come to find solutions, make decisions, seek
inspiration, and have fun. Since the initial launch in 2010, we have grown from a Q&A community into one of the top comprehensive
online content communities and the largest Q&A-inspired online content community in China. For more information, please visit https://ir.zhihu.com.
Use of Non-GAAP Financial Measures
In evaluating the business,
the Company considers and uses non-GAAP financial measures, such as adjusted loss from operations and adjusted net loss, to supplement
the review and assessment of its operating performance. The Company defines non-GAAP financial measures by excluding the impact of share-based
compensation expenses, amortization of intangible assets resulting from business acquisitions and the tax effects of the non-GAAP adjustments,
which are non-cash expenses. The Company believes that the non-GAAP financial measures facilitate comparisons of operating performance
from period to period and company to company by adjusting for potential impacts of items, which the Company’s management considers
to be indicative of its operating performance. The Company believes that the non-GAAP financial measures provide useful information to
investors and others in understanding and evaluating the Company’s consolidated results of operations in the same manner as they
help the Company’s management.
The non-GAAP financial
measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The presentation of the non-GAAP financial
measures may not be comparable to similarly titled measures presented by other companies. The use of the non-GAAP financial measures has
limitations as an analytical tool, and investors should not consider it in isolation from, or as a substitute for analysis of, our results
of operations or financial condition as reported under U.S. GAAP. For more information on the non-GAAP financial measures, please see
the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain
Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations
from Renminbi to U.S. dollars were made at a rate of RMB7.2672 to US$1.00, the exchange rate in effect as of June 28, 2024 as set
forth in the H.10 statistical release of the Federal Reserve Board.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to
differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by
words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to,” or other similar expressions. Further information regarding these and other risks, uncertainties or factors
is included in the Company’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release
is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under
applicable law.
For investor and media inquiries, please contact:
In China:
Zhihu Inc.
Email: ir@zhihu.com
Piacente Financial Communications
Helen Wu
Tel: +86-10-6508-0677
Email: zhihu@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Phone: +1-212-481-2050
Email: zhihu@tpg-ir.com
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS
(All amounts in thousands, except share, ADS, per
share data and per ADS data)
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
June 30, 2023 | | |
March 31, 2024 | | |
June 30, 2024 | | |
June 30, 2023 | | |
June 30, 2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Revenues: | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Marketing services | |
| 412,740 | | |
| 330,542 | | |
| 343,979 | | |
| 47,333 | | |
| 804,877 | | |
| 674,521 | | |
| 92,817 | |
| Paid membership | |
| 449,098 | | |
| 449,724 | | |
| 432,652 | | |
| 59,535 | | |
| 903,867 | | |
| 882,376 | | |
| 121,419 | |
| Vocational training | |
| 144,520 | | |
| 145,436 | | |
| 133,633 | | |
| 18,389 | | |
| 251,518 | | |
| 279,069 | | |
| 38,401 | |
| Others | |
| 37,851 | | |
| 35,161 | | |
| 23,546 | | |
| 3,240 | | |
| 78,167 | | |
| 58,707 | | |
| 8,078 | |
| Total revenues | |
| 1,044,209 | | |
| 960,863 | | |
| 933,810 | | |
| 128,497 | | |
| 2,038,429 | | |
| 1,894,673 | | |
| 260,715 | |
| Cost of revenues | |
| (482,131 | ) | |
| (417,384 | ) | |
| (377,266 | ) | |
| (51,914 | ) | |
| (964,132 | ) | |
| (794,650 | ) | |
| (109,347 | ) |
| Gross profit | |
| 562,078 | | |
| 543,479 | | |
| 556,544 | | |
| 76,583 | | |
| 1,074,297 | | |
| 1,100,023 | | |
| 151,368 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Selling and marketing expenses | |
| (540,593 | ) | |
| (477,954 | ) | |
| (416,985 | ) | |
| (57,379 | ) | |
| (986,158 | ) | |
| (894,939 | ) | |
| (123,148 | ) |
| Research and development expenses | |
| (236,245 | ) | |
| (197,356 | ) | |
| (209,323 | ) | |
| (28,804 | ) | |
| (419,205 | ) | |
| (406,679 | ) | |
| (55,961 | ) |
| General and administrative expenses | |
| (112,460 | ) | |
| (92,917 | ) | |
| (114,107 | ) | |
| (15,702 | ) | |
| (212,898 | ) | |
| (207,024 | ) | |
| (28,487 | ) |
| Total operating expenses | |
| (889,298 | ) | |
| (768,227 | ) | |
| (740,415 | ) | |
| (101,885 | ) | |
| (1,618,261 | ) | |
| (1,508,642 | ) | |
| (207,596 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loss from operations | |
| (327,220 | ) | |
| (224,748 | ) | |
| (183,871 | ) | |
| (25,302 | ) | |
| (543,964 | ) | |
| (408,619 | ) | |
| (56,228 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Other income/(expenses): | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Investment income | |
| 11,793 | | |
| 16,902 | | |
| 21,811 | | |
| 3,001 | | |
| 17,799 | | |
| 38,713 | | |
| 5,327 | |
| Interest income | |
| 39,987 | | |
| 30,763 | | |
| 26,754 | | |
| 3,681 | | |
| 79,480 | | |
| 57,517 | | |
| 7,915 | |
| Fair value change of financial instruments | |
| (9,016 | ) | |
| 9,408 | | |
| 31,412 | | |
| 4,322 | | |
| (12,598 | ) | |
| 40,820 | | |
| 5,617 | |
| Exchange gains | |
| 7,076 | | |
| 120 | | |
| 289 | | |
| 40 | | |
| 1,427 | | |
| 409 | | |
| 56 | |
| Others, net | |
| 644 | | |
| 3,043 | | |
| 15,947 | | |
| 2,194 | | |
| 6,977 | | |
| 18,990 | | |
| 2,613 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Loss before income tax | |
| (276,736 | ) | |
| (164,512 | ) | |
| (87,658 | ) | |
| (12,064 | ) | |
| (450,879 | ) | |
| (252,170 | ) | |
| (34,700 | ) |
| Income tax (expenses)/benefits | |
| (2,330 | ) | |
| (1,284 | ) | |
| 7,063 | | |
| 972 | | |
| (7,159 | ) | |
| 5,779 | | |
| 795 | |
| Net loss | |
| (279,066 | ) | |
| (165,796 | ) | |
| (80,595 | ) | |
| (11,092 | ) | |
| (458,038 | ) | |
| (246,391 | ) | |
| (33,905 | ) |
| Net (income)/loss attributable to noncontrolling interests | |
| (775 | ) | |
| 950 | | |
| (2,144 | ) | |
| (295 | ) | |
| (3,158 | ) | |
| (1,194 | ) | |
| (164 | ) |
| Net loss attributable to Zhihu Inc.’s shareholders | |
| (279,841 | ) | |
| (164,846 | ) | |
| (82,739 | ) | |
| (11,387 | ) | |
| (461,196 | ) | |
| (247,585 | ) | |
| (34,069 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net loss per share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| (0.92 | ) | |
| (0.59 | ) | |
| (0.30 | ) | |
| (0.04 | ) | |
| (1.52 | ) | |
| (0.88 | ) | |
| (0.12 | ) |
| Diluted | |
| (0.92 | ) | |
| (0.59 | ) | |
| (0.30 | ) | |
| (0.04 | ) | |
| (1.52 | ) | |
| (0.88 | ) | |
| (0.12 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net loss per ADS (One ADS represents three Class A ordinary shares) | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| (2.76 | ) | |
| (1.76 | ) | |
| (0.89 | ) | |
| (0.12 | ) | |
| (4.55 | ) | |
| (2.65 | ) | |
| (0.36 | ) |
| Diluted | |
| (2.76 | ) | |
| (1.76 | ) | |
| (0.89 | ) | |
| (0.12 | ) | |
| (4.55 | ) | |
| (2.65 | ) | |
| (0.36 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of ordinary shares outstanding | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Basic | |
| 304,068,362 | | |
| 281,549,707 | | |
| 279,241,647 | | |
| 279,241,647 | | |
| 304,052,681 | | |
| 280,403,026 | | |
| 280,403,026 | |
| Diluted | |
| 304,068,362 | | |
| 281,549,707 | | |
| 279,241,647 | | |
| 279,241,647 | | |
| 304,052,681 | | |
| 280,403,026 | | |
| 280,403,026 | |
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS (CONTINUED)
(All amounts in thousands, except share, ADS, per
share data and per ADS data)
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
June 30, 2023 | | |
March 31, 2024 | | |
June 30, 2024 | | |
June 30, 2023 | | |
June 30, 2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Share-based compensation expenses included in: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| 2,146 | | |
| 2,497 | | |
| 750 | | |
| 103 | | |
| 6,546 | | |
| 3,247 | | |
| 447 | |
| Selling and marketing expenses | |
| 6,384 | | |
| 3,272 | | |
| (6,063 | ) | |
| (834 | ) | |
| 15,142 | | |
| (2,791 | ) | |
| (384 | ) |
| Research and development expenses | |
| 14,941 | | |
| 3,680 | | |
| 4,439 | | |
| 611 | | |
| 36,146 | | |
| 8,119 | | |
| 1,117 | |
| General and administrative expenses | |
| 28,976 | | |
| 16,363 | | |
| 33,515 | | |
| 4,612 | | |
| 50,531 | | |
| 49,878 | | |
| 6,863 | |
ZHIHU INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands)
| | |
As of December 31, 2023 | | |
As of June 30, 2024 | |
| | |
RMB | | |
RMB | | |
US$ | |
| ASSETS | |
| | |
| | |
| |
| Current assets: | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 2,106,639 | | |
| 3,159,325 | | |
| 434,738 | |
| Term deposits | |
| 1,586,469 | | |
| 1,204,062 | | |
| 165,684 | |
| Short-term investments | |
| 1,769,822 | | |
| 646,321 | | |
| 88,937 | |
| Restricted cash | |
| - | | |
| 51,774 | | |
| 7,124 | |
| Trade receivables | |
| 664,615 | | |
| 532,929 | | |
| 73,333 | |
| Amounts due from related parties | |
| 18,319 | | |
| 41,236 | | |
| 5,674 | |
| Prepayments and other current assets | |
| 232,016 | | |
| 201,338 | | |
| 27,705 | |
| Total current assets | |
| 6,377,880 | | |
| 5,836,985 | | |
| 803,195 | |
| Non-current assets: | |
| | | |
| | | |
| | |
| Property and equipment, net | |
| 10,849 | | |
| 9,670 | | |
| 1,331 | |
| Intangible assets, net | |
| 122,645 | | |
| 61,698 | | |
| 8,490 | |
| Goodwill | |
| 191,077 | | |
| 126,344 | | |
| 17,386 | |
| Long-term investments, net | |
| 44,621 | | |
| 51,176 | | |
| 7,042 | |
| Right-of-use assets | |
| 40,211 | | |
| 21,959 | | |
| 3,022 | |
| Other non-current assets | |
| 7,989 | | |
| 372 | | |
| 51 | |
| Total non-current assets | |
| 417,392 | | |
| 271,219 | | |
| 37,322 | |
| Total assets | |
| 6,795,272 | | |
| 6,108,204 | | |
| 840,517 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | | |
| | |
| Current liabilities | |
| | | |
| | | |
| | |
| Accounts payable and accrued liabilities | |
| 1,038,531 | | |
| 913,225 | | |
| 125,664 | |
| Salary and welfare payables | |
| 342,125 | | |
| 219,681 | | |
| 30,229 | |
| Taxes payables | |
| 21,394 | | |
| 16,967 | | |
| 2,335 | |
| Contract liabilities | |
| 303,574 | | |
| 283,465 | | |
| 39,006 | |
| Amounts due to related parties | |
| 26,032 | | |
| 10,685 | | |
| 1,470 | |
| Short-term lease liabilities | |
| 42,089 | | |
| 24,834 | | |
| 3,417 | |
| Short-term borrowings | |
| - | | |
| 51,774 | | |
| 7,124 | |
| Other current liabilities | |
| 171,743 | | |
| 159,014 | | |
| 21,881 | |
| Total current liabilities | |
| 1,945,488 | | |
| 1,679,645 | | |
| 231,126 | |
| Non-current liabilities | |
| | | |
| | | |
| | |
| Long-term lease liabilities | |
| 3,642 | | |
| 2,071 | | |
| 285 | |
| Deferred tax liabilities | |
| 22,574 | | |
| 8,030 | | |
| 1,105 | |
| Other non-current liabilities | |
| 121,958 | | |
| 18,253 | | |
| 2,512 | |
| Total non-current liabilities | |
| 148,174 | | |
| 28,354 | | |
| 3,902 | |
| Total liabilities | |
| 2,093,662 | | |
| 1,707,999 | | |
| 235,028 | |
| | |
| | | |
| | | |
| | |
| Total Zhihu Inc.’s shareholders’ equity | |
| 4,599,810 | | |
| 4,312,294 | | |
| 593,392 | |
| Noncontrolling interests | |
| 101,800 | | |
| 87,911 | | |
| 12,097 | |
| Total shareholders’ equity | |
| 4,701,610 | | |
| 4,400,205 | | |
| 605,489 | |
| | |
| | | |
| | | |
| | |
| Total liabilities and shareholders’ equity | |
| 6,795,272 | | |
| 6,108,204 | | |
| 840,517 | |
ZHIHU INC.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP
RESULTS
(All
amounts in thousands)
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
June 30, 2023 | | |
March 31, 2024 | | |
June 30, 2024 | | |
June 30, 2023 | | |
June 30, 2024 | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Loss from operations | |
| (327,220 | ) | |
| (224,748 | ) | |
| (183,871 | ) | |
| (25,302 | ) | |
| (543,964 | ) | |
| (408,619 | ) | |
| (56,228 | ) |
| Add: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Share-based compensation expenses | |
| 52,447 | | |
| 25,812 | | |
| 32,641 | | |
| 4,492 | | |
| 108,365 | | |
| 58,453 | | |
| 8,043 | |
| Amortization of intangible assets resulting from business acquisitions | |
| 5,365 | | |
| 5,365 | | |
| 4,115 | | |
| 566 | | |
| 8,855 | | |
| 9,480 | | |
| 1,304 | |
| Adjusted loss from operations | |
| (269,408 | ) | |
| (193,571 | ) | |
| (147,115 | ) | |
| (20,244 | ) | |
| (426,744 | ) | |
| (340,686 | ) | |
| (46,881 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net loss | |
| (279,066 | ) | |
| (165,796 | ) | |
| (80,595 | ) | |
| (11,092 | ) | |
| (458,038 | ) | |
| (246,391 | ) | |
| (33,905 | ) |
| Add: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Share-based compensation expenses | |
| 52,447 | | |
| 25,812 | | |
| 32,641 | | |
| 4,492 | | |
| 108,365 | | |
| 58,453 | | |
| 8,043 | |
| Amortization of intangible assets resulting from business acquisitions | |
| 5,365 | | |
| 5,365 | | |
| 4,115 | | |
| 566 | | |
| 8,855 | | |
| 9,480 | | |
| 1,304 | |
| Tax effects on non-GAAP adjustments | |
| (1,069 | ) | |
| (1,069 | ) | |
| (756 | ) | |
| (104 | ) | |
| (1,669 | ) | |
| (1,825 | ) | |
| (251 | ) |
| Adjusted net loss | |
| (222,323 | ) | |
| (135,688 | ) | |
| (44,595 | ) | |
| (6,138 | ) | |
| (342,487 | ) | |
| (180,283 | ) | |
| (24,809 | ) |
Zhihu (NYSE:ZH)
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