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Zhihu | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Mar 26 10:51

Summary by Moomoo AI

Zhihu reported Q4 2024 revenues of RMB859.2 million ($117.7M), down from RMB1,138.3 million in Q4 2023, while achieving its first quarterly profit with net income of RMB86.4 million ($11.8M). Gross margin expanded to 62.9% from 59.1% YoY, driven by monetization enhancements and improved operating efficiency. The company maintained 81.4 million MAUs and 14.1 million average monthly subscribing members.For full-year 2024, total revenues decreased to RMB3,598.9 million ($493.0M) from RMB4,198.9 million in 2023. Net loss narrowed significantly by 79.9% to RMB169.0 million ($23.1M), while gross margin improved to 60.6% from 54.7%. The company achieved substantial cost reductions with operating expenses decreasing by 21.0% to RMB2,661.9 million.The company continued its share repurchase programs, having bought back 31.1 million Class A ordinary shares for $66.5 million under the 2022 program. Additionally, Zhihu completed a tender offer repurchasing 33,016,016 Class A ordinary shares for approximately HK$300 million in November 2024.
Zhihu reported Q4 2024 revenues of RMB859.2 million ($117.7M), down from RMB1,138.3 million in Q4 2023, while achieving its first quarterly profit with net income of RMB86.4 million ($11.8M). Gross margin expanded to 62.9% from 59.1% YoY, driven by monetization enhancements and improved operating efficiency. The company maintained 81.4 million MAUs and 14.1 million average monthly subscribing members.For full-year 2024, total revenues decreased to RMB3,598.9 million ($493.0M) from RMB4,198.9 million in 2023. Net loss narrowed significantly by 79.9% to RMB169.0 million ($23.1M), while gross margin improved to 60.6% from 54.7%. The company achieved substantial cost reductions with operating expenses decreasing by 21.0% to RMB2,661.9 million.The company continued its share repurchase programs, having bought back 31.1 million Class A ordinary shares for $66.5 million under the 2022 program. Additionally, Zhihu completed a tender offer repurchasing 33,016,016 Class A ordinary shares for approximately HK$300 million in November 2024.
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