Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 326

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 5
Chunk 326
---
 a breakdown of our operating expenses both in absolute amount and as a percentage of our revenue for the periods indicated.

                 ​                    ​       ​       ​    ​    ​        ​       ​    ​    ​        ​       ​       ​      ​    ​ 
----------------------------------------------------------------------------------------------------------------------------------
​                                     ​                                                            For the Year Ended December 31,
​                                     ​                  2022   ​                   2023    ​                                 2024
​                                               RMB   ​    %               RMB         %              RMB            US$         %
​                                     ​                                                         (in thousands, except percentages)
Operating expenses                                    ​    ​                                                                      
Selling and marketing expenses            2,026,468   56.2           2,048,090      48.8        1,599,186        219,088      44.4
Research and development expenses           763,362   21.2             901,452      21.5          732,553        100,359      20.4
General and administrative expenses         621,973   17.2             418,531       9.9          330,173         45,234       9.2
Total                                     3,411,803   94.6           3,368,073      80.2        2,661,912        364,681      74.0
​
Selling and Marketing Expenses. Our selling and marketing expenses primarily consist of expenses associated with promotion and advertising and staff costs. 
Research and Development Expenses. Our research and development expenses primarily consist of research and development related staff costs and expenses related to new technology and product development and product enhancements. 
General and Administrative Expenses. General and administrative expenses primarily consist of staff costs, traveling and general expenses, and professional service fees. 
Taxation
Cayman Islands
We are incorporated as an exempted company in the Cayman Islands. The Cayman Islands currently have no income, corporation or capital gains tax.
Hong Kong
Under the two-tiered profits tax rate regime in Hong Kong, the first HK$2 million of profits of the qualifying group entity will be taxed at 8.25%, and profits above HK$2 million will be taxed at 16.5%. The profits of group entities not qualifying for the two-tiered profits tax rate regime will continue to be taxed at a flat rate of 16.5%. Accordingly, the Hong Kong profits