Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 322

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 5
Chunk 322
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, paid membership, vocational training and other services. The willingness of our users to pay for premium content largely depends on the breadth, depth, and quality of our premium content, and thus better premium content could result in higher value for our paid membership services. Our rich content offerings and user base attract more merchants and brands to promote their products and services and achieve other commercial goals through our marketing services. In addition to continuously expanding our customer base via our diversified service offerings, we plan to further improve the effectiveness of our monetization channels and increase the spending of our existing merchants and brands as well as paying users.
We have consistently explored additional content-centric monetization channels and added new revenue streams. For example, we have launched our vocational training to expand our vertical service coverage and meet user demand. We plan to further expand the monetization of our content community and seek to further diversify our revenue streams.

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Our operating efficiency
Our efficiency and margin depend on our ability to strategically increase our scale and manage our costs and expenses. As the majority of our content is generated by users, we benefit from our organically generated, diverse content that stimulates interactions among users and content creators, as well as efficient content acquisition. We also deploy resources to strategically acquire high-quality content to enrich our premium content library. As we continue to expand our revenue streams, our revenue mix and ability to manage the level of revenue sharing with content providers might also affect our gross profit margin.
We seek to continually optimize our expense structure. Our operating efficiency is significantly affected by our user acquisition strategy. In 2024. we reduced spending on community-related user acquisition, and shifted to prioritizing user experience and adopting a more organic approach to drive user growth. Moving forward, we will continue to enhance our brand recognition to achieve organic user acquisition and retention.
Our people and technology
We focus on investing in our people and technology, which are crucial for us to enrich our content offerings, further grow our user base, incentivize content creators, and attract merchants and brands. We recruit, retain, and motivate talented employees to support our growth. Our technology infrastructure supports our business model in various respects, including understanding our users, optimizing our content offerings, promoting interaction and engagement between our users and content creators, nurturing our community, and enhancing our service offerings. We will continue to develop and apply artificial intelligence technologies to keep pace with the growth of our business, scale our content offerings, and improve operating efficiency. We will continue to invest in people and technology to facilitate our future growth.
Key Components of Results of