Breakeven Date Change • 10h
No longer forecast to breakeven The 6 analysts covering Zhihu no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CN¥388.0m in 2027. New consensus forecast suggests the company will make a loss of CN¥21.4m in 2028. Announcement • May 11
Zhihu Inc. to Report Q1, 2026 Results on Jun 03, 2026 Zhihu Inc. announced that they will report Q1, 2026 results Pre-Market on Jun 03, 2026 Announcement • Mar 25
Zhihu Inc. Reports Impairment of Goodwill for the Fourth Quarter Ended December 31, 2025 Zhihu Inc. reported impairment of goodwill for the fourth quarter ended December 31, 2025. For the quarter, the company reported impairment loss on goodwill of RMB 126,344,000. Announcement • Mar 03
Zhihu Inc. to Report Q4, 2025 Results on Mar 25, 2026 Zhihu Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 25, 2026 Announcement • Oct 30
Zhihu Inc. to Report Q3, 2025 Results on Nov 25, 2025 Zhihu Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 25, 2025 Announcement • Sep 30
Zhihu Inc. Announces Resignation of Chief Technology Officer, Effective September 30, 2025 Zhihu Inc. announced the resignation of Mr. Bin Sun from his position as the Company’s chief technology officer due to personal reasons, effective from September 30, 2025. Announcement • Jul 30
Zhihu Inc. to Report Q2, 2025 Results on Aug 27, 2025 Zhihu Inc. announced that they will report Q2, 2025 results on Aug 27, 2025 Announcement • May 28
Zhihu Inc., Annual General Meeting, Jun 25, 2025 Zhihu Inc., Annual General Meeting, Jun 25, 2025, at 10:00 China Standard Time. Location: room xinzhi, floor 1, zone c, china industry-academy-research, achievement transformation center, no. 18a xueqing road, haidian district, , prc., beijing China Announcement • May 13
Zhihu Inc. to Report Q1, 2025 Results on May 27, 2025 Zhihu Inc. announced that they will report Q1, 2025 results at 9:30 AM, US Eastern Standard Time on May 27, 2025 Announcement • Feb 27
Zhihu Inc. to Report Fiscal Year 2024 Results on Mar 26, 2025 Zhihu Inc. announced that they will report fiscal year 2024 results on Mar 26, 2025 Announcement • Nov 11
Zhihu Inc. to Report Q3, 2024 Results on Nov 26, 2024 Zhihu Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 26, 2024 Buy Or Sell Opportunity • Oct 03
Now 28% undervalued Over the last 90 days, the stock has risen 28% to €3.48. The fair value is estimated to be €4.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 0.9% per annum. Earnings are also forecast to grow by 92% per annum over the same time period. Reported Earnings • Aug 23
Second quarter 2024 earnings released: CN¥0.89 loss per share (vs CN¥2.76 loss in 2Q 2023) Second quarter 2024 results: CN¥0.89 loss per share (improved from CN¥2.76 loss in 2Q 2023). Revenue: CN¥933.8m (down 11% from 2Q 2023). Net loss: CN¥82.7m (loss narrowed 70% from 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 9.7% growth forecast for the Interactive Media and Services industry in Europe. Announcement • Aug 09
Zhihu Inc. to Report Q2, 2024 Results on Aug 22, 2024 Zhihu Inc. announced that they will report Q2, 2024 results After-Market on Aug 22, 2024 Announcement • Jul 20
Zhihu Inc. (NYSE:ZH) announces an Equity Buyback for 46,921,448 shares, representing 15.93% for HKD 427.45 million. Zhihu Inc. (NYSE:ZH) announces a share repurchase program. Under the program, the company will repurchase up to 6,921,448 Class A Ordinary Shares (including in the form of ADSs), representing approximately 15.93% of its issued share capital, for HKD 427.45 million. The shares will be repurchased at a price of HKD 9.11 per Class A Ordinary Share (equivalent of $3.50 per ADS). The repurchases will be funded fully by internal cash resources of the Group. The Offer will provide an opportunity for the Shareholders and ADS holders either to tender Class A Ordinary Shares (including in the form of ADSs) to realize part of their investments in the Company at a premium to recent market prices and improve liquidity. The program is subject to approval of shareholders on or before the Long Stop Date. As of July 19, 2024, the company had 294,632,386 Shares issued and outstanding, which comprised 277,238,720 Class A Ordinary Shares and 17,393,666 Class B Ordinary Shares issued and outstanding. Reported Earnings • Jun 14
First quarter 2024 earnings released First quarter 2024 results: Revenue: CN¥960.9m (down 3.4% from 1Q 2023). Net loss: CN¥164.8m (loss narrowed 9.1% from 1Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 9.2% growth forecast for the Interactive Media and Services industry in Europe. New Risk • Jun 13
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: CN¥844m Forecast net loss in 3 years: CN¥11m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (57% average daily change). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (CN¥11m net loss in 3 years). Breakeven Date Change • Jun 13
No longer forecast to breakeven The 7 analysts covering Zhihu no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CN¥104.6m in 2026. New consensus forecast suggests the company will make a loss of CN¥11.5m in 2026. Announcement • Jun 06
Zhihu Inc. Announces Executive Changes Zhihu Inc. announced the appointment of Mr. Bin Sun as the Company's chief technology officer, effective immediately. Mr. Dahai Li resigned as the Company's chief technology officer due to his commitment of serving full-time as the chief executive officer of Modelbest, a technology start-up company dedicated to AI and large language models. Mr. Li will remain as a director of Zhihu. Mr. Sun is a seasoned technology leader with extensive experience in leading technology teams and developing technology strategies. Prior to joining the Company, Mr. Sun served as the Vice President of iQIYI Inc., where he spearheaded intelligent digital production, big data, and business intelligence initiatives. Prior to that, Mr. Sun served as the Deputy General Manager of Perfect World's education business from 2015 to 2017. Before that, Mr. Sun served in various positions related to product and engineering at technology companies such as Microsoft and Yahoo from 2006 to 2015. Mr. Sun holds a Bachelor's and a Master's degree in Computer Science from Harbin Institute of Technology. Announcement • May 31
Zhihu Inc., Annual General Meeting, Jun 26, 2024 Zhihu Inc., Annual General Meeting, Jun 26, 2024, at 10:00 China Standard Time. Location: room landing, floor 1, zone b, china industry-academy--research, achievement transformation center, no. 18a xueqing road, haidian district, beijing, China Announcement • May 29
Zhihu Inc. to Report Q1, 2024 Results on Jun 12, 2024 Zhihu Inc. announced that they will report Q1, 2024 results Pre-Market on Jun 12, 2024 Reported Earnings • Apr 29
Full year 2023 earnings released: CN¥1.41 loss per share (vs CN¥2.59 loss in FY 2022) Full year 2023 results: CN¥1.41 loss per share (improved from CN¥2.59 loss in FY 2022). Revenue: CN¥4.20b (up 17% from FY 2022). Net loss: CN¥843.6m (loss narrowed 47% from FY 2022). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Interactive Media and Services industry in Europe. Reported Earnings • Mar 27
Full year 2023 earnings released: CN¥1.41 loss per share (vs CN¥2.59 loss in FY 2022) Full year 2023 results: CN¥1.41 loss per share (improved from CN¥2.59 loss in FY 2022). Revenue: CN¥4.20b (up 17% from FY 2022). Net loss: CN¥843.6m (loss narrowed 47% from FY 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Interactive Media and Services industry in Europe. Announcement • Mar 14
Zhihu Inc. to Report Q4, 2023 Results on Mar 26, 2024 Zhihu Inc. announced that they will report Q4, 2023 results Pre-Market on Mar 26, 2024 Breakeven Date Change • Dec 31
Forecast to breakeven in 2026 The 9 analysts covering Zhihu expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CN¥104.6m in 2026. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Reported Earnings • Dec 01
Third quarter 2023 earnings released: CN¥0.47 loss per share (vs CN¥0.49 loss in 3Q 2022) Third quarter 2023 results: CN¥0.47 loss per share (improved from CN¥0.49 loss in 3Q 2022). Revenue: CN¥1.02b (up 12% from 3Q 2022). Net loss: CN¥278.7m (loss narrowed 7.2% from 3Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in Europe. New Risk • Nov 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Announcement • Nov 17
Zhihu Inc. to Report Q3, 2023 Results on Nov 29, 2023 Zhihu Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 29, 2023 Breakeven Date Change • Aug 25
Forecast to breakeven in 2025 The 11 analysts covering Zhihu expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 51% per year to 2024. The company is expected to make a profit of CN¥5.00m in 2025. Average annual earnings growth of 80% is required to achieve expected profit on schedule. New Risk • Aug 24
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: CN¥941m Forecast net loss in 2 years: CN¥200m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.2% average weekly change). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (CN¥200m net loss in 2 years). Reported Earnings • Aug 23
Second quarter 2023 earnings released: CN¥0.46 loss per share (vs CN¥0.79 loss in 2Q 2022) Second quarter 2023 results: CN¥0.46 loss per share (improved from CN¥0.79 loss in 2Q 2022). Revenue: CN¥1.04b (up 25% from 2Q 2022). Net loss: CN¥279.8m (loss narrowed 43% from 2Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Interactive Media and Services industry in Germany. Announcement • Aug 12
Zhihu Inc. to Report Q2, 2023 Results on Aug 23, 2023 Zhihu Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 23, 2023 New Risk • Jul 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.8% average weekly change). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (CN¥350m net loss in 2 years). New Risk • Jun 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (CN¥350m net loss in 2 years). Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (5.7% increase in shares outstanding). Breakeven Date Change • May 25 The 12 analysts covering Zhihu previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 48% per year to 2024. The company is expected to make a profit of CN¥34.8m in 2025. Average annual earnings growth of 75% is required to achieve expected profit on schedule.
Announcement • May 25
Zhihu Inc. Announces Changes in Board Committees Zhihu Inc. announced that the Board has approved to split the nominating and corporate governance committee of the Board into a nomination committee and a corporate governance committee with separate functions and responsibilities under separate charters. The Nomination Committee will comprise Mr. Yuan Zhou, Ms. Hope Ni, Mr. Hanhui Sam Sun, and Mr. Derek Chen, with Ms. Hope Ni appointed as the chairperson of the Nomination Committee. The Corporate Governance Committee will comprise Ms. Hope Ni, Mr. Hanhui Sam Sun and Mr. Derek Chen, with Mr. Derek Chen appointed as the chairperson of the Corporate Governance Committee. These changes are effective May 24, 2023. Reported Earnings • May 25
First quarter 2023 earnings released: CN¥0.30 loss per share (vs CN¥1.02 loss in 1Q 2022) First quarter 2023 results: CN¥0.30 loss per share (improved from CN¥1.02 loss in 1Q 2022). Revenue: CN¥994.2m (up 34% from 1Q 2022). Net loss: CN¥181.4m (loss narrowed 71% from 1Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Interactive Media and Services industry in Europe. Announcement • May 13
Zhihu Inc. to Report Q1, 2023 Results on May 24, 2023 Zhihu Inc. announced that they will report Q1, 2023 results Pre-Market on May 24, 2023 Breakeven Date Change • Mar 26
No longer forecast to breakeven The 12 analysts covering Zhihu no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CN¥145.8m in 2025. New consensus forecast suggests the company will make a loss of CN¥76.7m in 2025. Breakeven Date Change • Mar 24
Forecast to breakeven in 2025 The 12 analysts covering Zhihu expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 57% per year to 2024. The company is expected to make a profit of CN¥93.0m in 2025. Average annual earnings growth of 85% is required to achieve expected profit on schedule. Buying Opportunity • Feb 23
Now 27% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €1.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% over the last 3 years. Earnings per share has grown by 64%. For the next 3 years, revenue is forecast to grow by 23% per annum. Earnings is also forecast to grow by 60% per annum over the same time period. Buying Opportunity • Jan 27
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €1.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% over the last 3 years. Earnings per share has grown by 64%. For the next 3 years, revenue is forecast to grow by 23% per annum. Earnings is also forecast to grow by 60% per annum over the same time period. Buying Opportunity • Jan 11
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €1.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 54% over the last 3 years. Earnings per share has grown by 64%. For the next 3 years, revenue is forecast to grow by 23% per annum. Earnings is also forecast to grow by 60% per annum over the same time period. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The 14 analysts covering Zhihu expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CN¥145.8m in 2025. Average annual earnings growth of 56% is required to achieve expected profit on schedule. Board Change • Dec 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Derek Chen was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. 
