Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 242

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 4
Chunk 242
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izons, provides solutions, and resonates with minds, ranging from daily life choices such as purchasing a television or a mobile phone, choosing an inspirational holiday hide-away, a puzzle book, or a reality show, to sophisticated knowledge or unique experience such as learning about the latest generative AI technology or discussing about the research topics of Nobel Prize laureates. Our content also addresses life decisions such as selecting a college or a good exam preparation program, making career choices, managing a relationship, or expecting a baby. A full spectrum of high-quality content on Zhihu appeals to an ever-growing user base and content creators, who have come to Zhihu to share their knowledge, experience, and insights. Zhihu goes beyond that first question and brings people together through their commonality.
Since we launched our business in 2010, we have been dedicated to expanding our content and service offerings to meet the diverse needs of our users, content creators, and business partners. Alongside our development, we have formed a content-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