Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 92

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 3
Chunk 92
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-centric business model, which continues to evolve. We have grown from a Q& A community into one of the largest comprehensive online content communities in China. In 2024, Zhihu had 83.0 million average MAUs and 15.0 million average monthly subscribing members. As of December 31, 2024, Zhihu had 77.7 million cumulative content creators, who had contributed 874.6 million cumulative pieces of content covering over 1,000 verticals. We continue to leverage our content-centric business model and launched new monetization channels such as vocational training programs. However, we believe that we are still at an early stage of monetization with significant runway for growth across multiple monetization channels.

The Zhihu model is centered around a virtuous cycle seeking to achieve a content equilibrium between what our content creators contribute and what our users consume. We continually reinforce Zhihu’s technological foundation and strive for optimal monetization to deliver value to our shareholders and other stakeholders.

Our users and content creators actively interact with each other and share knowledge, experience, and insights, forming a content ecosystem spanning a wide range of verticals and topics across diverse content forms. Our deep content and user insights play an essential role in optimizing user experience and maintaining robust community governance, which reinforces our community culture of sincerity, expertise, and respect. Our community culture and trustworthy brand serve to fortify our content ecosystem, which attracts more users and content creators to our community and keeps them engaged. Our advanced technological infrastructure plays a pivotal role in multiple facets of our business, including user comprehension, content quality assessment, promotion of engaging content, user interaction, and community cultivation, as well as the enhancement of our content and service portfolio, all contributing to the establishment of a trustworthy brand. As we continue to enhance user experience and serve our users, content creators, and business partners, we have established diverse and extensive content-centric monetization channels. This self-reinforcing ecosystem has emerged as we have grown and continues to solidify our leadership.

Our Progress in AI

In 2024, we made significant strides in exploration of AI through internal initiatives and deeper integration with Zhihu community, recognizing and harnessing its potential to unlock opportunities for our long-term growth. With our long-term vision remaining focused on building a diverse, professional, and trustworthy community, we have been investing in AI applications that support these goals while also exploring opportunities beyond our own platform.

Table of Contents

A prime example is Zhihu Zhida, where this AI search