Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 251

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 4
Chunk 251
---
 AGI and film post-production, and have also shown stronger profit margins. In 2024, we strategically streamlined our portfolio to concentrate on high-performing categories in which we demonstrate a competitive edge.
Other Monetization Channels
As part of our efforts to grow our content portfolio and cater to the evolving trend of our users’ content consumption, we continue to identify and introduce additional products and services. We believe that there are significant monetization opportunities across many of our content domains, such as e-commerce, where users are highly engaged and we have accumulated a vast repository of content.
Our e-commerce operations enable content creators to seamlessly integrate actionable utilities in their content to introduce and recommend products to our users. We currently drive traffic externally to third-party e-commerce platforms, which pay us commissions based on pre-agreed percentages of the relevant GMV realized on these platforms. We then split the commissions with the respective content creators.
Our trustworthy brand image makes Zhihu popular in various product categories. Our e-commerce service currently covers digital consumer products, home appliances, and lifestyle products. We also work with third parties to offer book series. Benefiting from our rich content portfolio, we are exploring opportunities to further develop the related intellectual property in collaboration with third parties, such as Zhihu-branded merchandise.
Zhihu Community Governance
We maintain community culture through our comprehensive community governance system, comprising our users, protocols, and algorithms. These elements interact with one another to build and enhance our culture.
Our community governance team actively identifies and addresses content that violates our community guidelines, leveraging a combination of proprietary know-how, AI-powered content assessment algorithms, and established systems and protocols honed over years of operations. We analyze content, assess user behaviors and interactions, and ultimately enhance the quality of our content portfolio. As a result, content quality plays a pivotal role in determining the order by which content is presented. Influential, reputable, and well-recognized users generally have more weight in the content assessment process. Through years of experience, we have accumulated a set of community guidelines in addition to our community by-laws and terms of service to help regulate all major aspects of our community’s operations and activities. 
People within the Zhihu community value our culture and are willing to help safeguard an environment where everyone is encouraged to share their knowledge, experience, and insights, while treating each other with respect. For example, our users can actively participate in community governance by initiating and participating in the dispute review process, and certain users can even become “jurors” on Zhi