ZHIHU-W Reports Q1 Adjusted Net Profit of RMB 17.2 Million, Up 147.2% Year-on-Year

ZHIHU-W (02390) has announced its financial results for the first quarter ended March 31, 2026.

The group recorded total revenues of RMB 651.5 million, representing a year-on-year decrease of 10.7%.

The net loss attributable to shareholders of Zhihu was RMB 8.504 million, a reduction of 15.75% compared to the same period last year.

Adjusted net profit for the quarter was RMB 17.2 million, marking a significant increase of 147.2% year-on-year.

Mr. Zhou Yuan, Chairman and CEO of Zhihu, commented on the results, stating that the first quarter of 2026 delivered a solid start as the company advances its high-quality growth strategy.

He noted that the community ecosystem continues to improve, with user structure being optimized and user engagement and social interaction seeing further enhancement.

Content creators remain highly active, consistently contributing authentic, high-quality content.

The integration of AI capabilities with the community ecosystem and business operations is accelerating, further unlocking the platform's value.

Against this backdrop, core business maintained positive momentum, while new business initiatives continued their strong growth trajectory, contributing significantly to incremental gains.

Looking ahead, the company will remain focused on enhancing operational profitability, prudently advancing AI-related commercialization efforts, and continuing to leverage the unique value of its human-centric community in the AI era to drive long-term, healthy business development.

Mr. Wang Han, Chief Financial Officer of Zhihu, added that the first-quarter performance demonstrates the resilience of the company's financial model.

He highlighted that non-GAAP net profit reached RMB 17.2 million, up 147.2% year-on-year, representing a strong turnaround to profitability from the previous quarter.

During the quarter, total operating expenses decreased by 10.4% year-on-year, a result attributed to the strict execution of an efficiency-oriented strategy.

The gross margin also recovered sequentially to 59.6%, contributing to the ongoing improvement in profit quality.

Moving forward, the company will continue to drive high-quality growth by enhancing operational efficiency and adhering to prudent capital allocation, including share repurchases, with an unwavering focus on maximizing long-term shareholder value.