Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 250

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 4
Chunk 250
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 AI capabilities to upgrade our existing products and integrate them more closely with content from our content creators and integrated with the broader community. We believe this will not only enhance the long-term monetization potential of our marketing services, but also help maintain a better balance between our commercial and content ecosystems.
Paid Membership
Our Yan Selection membership program provides our subscribing members with access to our premium content library, serving a wide range of users who consume content for pleasure or acquiring knowledge and skills, as well as those who seek credible references. We offer subscription plans for our Yan Selection membership and offer trials to attract more members. Our subscription plans are generally offered for monthly, quarterly, and annual membership services. In comparison to freely accessible content, our premium content available through the paid membership subscription program primarily consists of content generated by content creators on our platform, some of whom are professionals, and user-generated content licensed from third parties on a compensated basis. Specifically, these third parties primarily include professional or experienced content creators who provide commissioned works and copyright holders that grant us licenses for specific copyrighted works. We also offer an on-demand access option to our content library to supplement our Yan Selection membership program. In 2024, we had an average of 15.0 million monthly subscribing members, increased by 3.7% from 14.5 million in 2023. We expect to expand our paid membership services by continually enhancing the quality of our premium content, including professionally generated and professional user-generated content, while diversifying the spectrum of our premium content library. 
Vocational Training
We launched our vocational training service in 2020. We offer a diverse course portfolio primarily focusing on professional qualification exams and other vocational education, which is a valuable supplement to our content offerings. In 2024, we generated RMB468.1 million (US$64.1 million) in revenues from our vocational training services. 

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We utilize our existing technological infrastructure, including our content distribution engine, customer relationship management, data management platform, and transaction system, to advance the development of our vocational training services. We attract users by creating and distributing content that stimulates users’ interest in topics that relate to our courses and that encourages users to purchase such courses. In addition to our proprietary vocational training business, we also conduct strategic acquisitions to strengthen our content supply. Since 2021, we have enriched the content supply for our vocational training services through acquisitions of equity interests in companies that provide certain vocational training courses. Overall, our vocational skill and interest courses have been particularly popular, such as