Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 97

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 3
Chunk 97
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 content creators.

We understand and support the different needs of content creators at different stages. Our Q& A format serves as a catalyst for creativity, encouraging users to become content creators in the Zhihu community by contributing their first piece of content. Our technology can help content creators select the right topics tailored to their interest and expertise. For example, our AI-powered question routing system distributes questions suitable for entry-level content creators, gradually advancing in complexity as content creators become more experienced. In addition, we provide ongoing support and guidance to content creators to encourage the frequency of content creation, including rewarding them financially for their creative works through various channels, such as income for creation of quality commercial and premium content, commissions from Recommended Goodies, and other initiatives. In April 2023, we upgraded our professional creator identification recognition function to indicate verified professional identity of our content creators. Furthermore, we launched our upgraded Haiyan Plan 6.0 March 2024, which centers around professional users with profile verified, motivating them with greater weights to expand their influence within the community and with highly efficient tools for realizing their monetization potential.

Zhihu Users

We have a large, vibrant, and growing user base. We had average MAUs of 101.3 million, 105.3 million, and 83.0 million in 2022, 2023, and 2024, respectively. The decrease of average MAUs in 2024 was consistent with our expectations, as we reduced spending on community-related user acquisition and shifted to prioritizing user experience and adopting a more organic approach to drive user growth. However, engagement among our monthly active users increased, core user retention sustained its growth momentum, and daily active user time spent also increased significantly. Our user base is also young and diverse. As of December 31, 2024, over 73.8% of our active users were under 30, and female users accounted for 59.4% of our total number of active users in December 2024. We aim to continue to expand and further diversify our user base and serve a broader set of internet users.

Our users can leverage a series of features to foster active engagement within the Zhihu community. For example, they can upvote and downvote answers and comments, which play an instrumental role in our community engagements. Users can also identify and invite other users to answer any specific questions in our community. Furthermore, we offer other engagement features including comments, likes, follows, favorites, and shares. These features