Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 178

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 3
Chunk 178
---
 from a loss from operations of RMB1.1 billion in 2023.

Investment Income

Our investment income increased from RMB41.7 million in 2023 to RMB65.4 million (US$9.0 million) in 2024, primarily due to an increase in the yield on short-term investment that we held for cash management purposes during 2024.

Interest Income

Our interest income decreased from RMB158.7 million in 2023 to RMB115.0 million (US$15.8 million) in 2024, primarily due to a decrease in term deposits during 2024.

Fair Value Change of Financial Instruments

We recorded a gain of RMB78.4 million (US$10.7 million) from fair value change of financial instruments in 2024, in comparison with a loss of RMB5.2 million on fair value change of financial instruments in 2023, which reflected the fair value change of contingent consideration payables for our acquisitions.

Exchange Gains

We had exchange gains of RMB1.0 million (US$139 thousand) in 2024, in comparison with exchange gains of RMB97 thousand in 2023, as a result of fluctuations of the exchange rates of Renminbi against U. S. dollars.

Others, Net

We had net other gains of RMB42.9 million (US$5.9 million) in 2024, in comparison with net other gains of RMB49.2 million in 2023, primarily due to a decrease in non-operating income.

Loss Before Income Tax

Primarily as a result of the foregoing, our loss before income tax in 2024 was RMB178.4 million (US$24.4 million), narrowed by 78.5% from RMB827.7 million in 2023.

Table of Contents

Income Tax Benefits/(Expenses)

We had income tax benefits of RMB9.4 million (US$1.3 million) in 2024, in comparison with income tax expenses of RMB11.8 million in 2023.

Net Loss

As a result of the foregoing, our net loss narrowed by79.9% from RMB839.5 million in 2023 to RMB169.0 million (US$23.1 million) in 2024.

Year Ended December 31, 2023 Compared to Year Ended December 31, 2022

For a detailed