Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 181

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 3
Chunk 181
---
 the result of (i) a decrease of RMB183.4 million in accounts payable and accrued liabilities, (ii) a decrease of RMB65.4 million in salary and welfare payables to our employees, (iii) a decrease of RMB59.5 million in contract liabilities, (iv) a decrease of RMB45.1 million in amounts due to related parties, partially offset by (y) a decrease of RMB208.2 million in trade receivables and (z) a decrease of RMB63.3 million in prepayments and other current assets.

For the year ended December 31, 2023, net cash used in operating activities was RMB415.5 million, as compared to our net loss of RMB839.5 million for the same period. Net loss can be reconciled to net cash used in operating activities mainly by deducting an accrued investment income of short-term investments of RMB37.5 million, adding back a fair value change of financial instrument of RMB5.2 million and other non-cash items of RMB219.9 million, which primarily comprised share-based compensation expenses of RMB164.7 million, and provision of allowance for expected credit losses of RMB29.9 million, and further adding another RMB240.3 million released from working capital. The cash released from working capital was primarily the result of (i) an increase of RMB220.2 million in accounts payable and accrued liabilities, (ii) a decrease of RMB64.4 million in trade receivables, (iii) a decrease of RMB59.9 million in right-of-use assets, and (iv) an increase of RMB56.9 million in salary and welfare payables to our employees, partially offset by (y) a decrease of RMB87.1 million in contract liabilities and (z) a decrease of RMB50.8 million in lease liabilities.

For the year ended December 31, 2022, net cash used in operating activities was RMB1.1 billion, as compared to our net loss of RMB1.6 billion for the same period. Net loss can be reconciled to net cash used in operating activities mainly by deducting an accrued investment income of short-term investments of RMB31.5 million, adding back a fair value change of financial instrument of RMB176.7 million and other non-cash items of RMB454.5 million, which primarily comprised share-based compensation expenses of