Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 248

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 4
Chunk 248
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 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 collectively enhance user participation and contribute to the vibrant and interactive environment of the Zhihu community.
Our users are instrumental in building and maintaining our community culture of sincerity, expertise, and respect. We provide a set of comprehensive community identity and recognition systems that strengthen users’ sense of community belonging. Our high-quality content and strong brand have enabled us to effectively expand our user base while maintaining user loyalty.
We have implemented a systematic approach in managing our user growth. Our product, content, community governance, technology, and sales and marketing teams collaborate closely with our experienced management team to align and execute our user growth strategies, ensuring optimized user acquisition. We also strategically deploy multi-dimensional user growth strategies to complement our word-of-mouth referrals, such as brand marketing, targeted campaigns, and pre-installations on mobile devices. To adapt to dynamic market conditions and competitive landscape, we consistently review and refine our user growth strategy. For example, we prioritize promoting Zhihu as an online community where everyone can find their own answers to attract users with broader and more diverse backgrounds. We also emphasize our strength as the go-to online community for content coverage on trending topics with significant social impact.
Our Monetization
We have adopted a multi-engine, content-centric monetization approach. We derive revenues from marketing services, paid membership, vocational training, and other services such as sales of our private label products and book series. 

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Marketing Services
At the beginning of 2023, we optimized our organizational structure by combining our advertising and content commerce solutions services into a “marketing services” business, offering our