Zhihu, Inc. Class A

Zhihu, Inc. Class A

8.74
HKD
-0.25
(-2.78%)
-1.50EPS
2.07BMarket Cap
Dec 02Next Earn
Zhihu, Inc. Class A
HKEX:2390
(Hong Kong Exchange)

Recent

price

8.74

P/E

ratio

- -

div

yld

- -

ROIC.AI

2019
2020
2021
2022
2023
2024
2025
TTM
CNY
2.73
4.84
9.9
11.83
14.04
13.16
11.45
11.3
Revenue per Share
-4.09
-1.85
-4.34
-5.19
-2.82
-0.63
-0.8
-1.29
Basic EPS, GAAP
-2.94
-0.88
-1.5
-3.66
-1.22
-1.03
-1.77
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-14.28
-18.41
22.51
17.87
15.06
15.79
14.1
14.11
Book Value per Share
-14.41
-18.49
22.03
17.22
14.03
15.1
13.99
14.01
Tangible Book Value per Share
246
279
299
305
299
274
240
234
Basic Weighted Avg Shares
671
1,352
2,959
3,605
4,199
3,599
2,749
2,644
Sales/Revenue/Turnover
-157.86
-44.59
-46.99
-44.49
-25.54
-13.37
-13.86
-14.23
Operating Margin (%)
20
20
21
25
19
22
25
- -
Depreciation Expense
-1,004
-518
-1,299
-1,581
-844
-172
-193
-301
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-149.77
-38.27
-43.89
-43.86
-20.09
-4.77
-7.02
-11.39
Profit Margin (%)
3,139
2,706
6,436
5,495
4,432
3,960
3,464
3,551
Working Capital
3
- -
82
43
4
2
16
5
LT Debt
-3,992
-5,144
6,738
5,694
4,702
4,196
3,875
3,737
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
-25.53
-16.46
-3.93
-4.86
-7.72
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
56
18
122
LT Borrowings
- -
- -
- -
LT Finance Leases
16
9
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
270
265
260
Market Capitalization
2,073
1,660
1,791

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
4,732
4,798
4,849
Cash, Cash Equivalents & STI
4,240
4,280
4,305
Accounts Receivable, Net
358
390
408
Inventories
26
- -
25
Total Current Liabilities
1,268
1,268
1,299
Payables & Accruals
976
915
930
ST Debt
56
18
122
Deferred Revenue
186
222
208

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-56.46%
-7.64%
Free Cash Flow
- -
38.23%
50.01%
Net Income, GAAP
- -
11.74%
12.28%
Sales/Revenue/Turnover
- -
23.85%
-23.62%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
961
934
845
859
3,599
2025
730
717
659
644
2,749
2026
652
690
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.59
-0.3
-0.04
0.34
-0.63
2025
-0.04
0.3
-0.19
-0.89
-0.8
2026
-0.04
-0.16
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Zhihu Inc. (2390.HK) operates as China's leading online content community and knowledge-sharing platform, enabling users to ask questions, share insights, and connect with experts through a Q&A format, live streaming, and short video content. The company offers a suite of core products and services including its flagship Zhihu App for mobile Q&A and content discovery; Zhihu Live for interactive paid sessions with thought leaders; Zhihu Column for subscription-based in-depth articles; advertising solutions such as branded content and display ads; premium membership programs providing ad-free experiences and exclusive content; and enterprise services like talent recruitment and brand consulting via its professional network features. Headquartered in Beijing, China, and founded in 2011, Zhihu primarily serves individual users, content creators, and businesses in the digital media and online services industry, with operations concentrated in mainland China and a growing presence among Chinese diaspora communities. In recent developments, Zhihu has focused on monetization enhancements through expanded e-commerce integrations and live commerce features launched in 2024; formed strategic content partnerships with major Chinese tech firms to bolster creator ecosystems; and pursued cost optimization amid market challenges, including workforce adjustments in early 2025, while reporting steady user growth exceeding 100 million monthly active users as of late 2024.

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