Zhihu ADRs Fall on 4Q Revenue Decline, Swing to Loss

Dow Jones03-26

By Elias Schisgall

Zhihu American depositary receipts fell after the company swung to a loss and reported declining revenue in the fourth quarter.

ADRs were down 4.8% to $2.88 in Wednesday afternoon trading. They have fallen 38% over the past year.

The Chinese question-and-answer website recorded a fourth-quarter loss of 208.6 million Chinese yuan (about $29.8 million), or CNY2.66 per American depositary share. That compares with a profit of CNY86.3 million, or CNY1.00 per ADS, a year earlier.

Revenue fell to CNY643.5 million, down from CNY859.2 million in the prior year.

For the current year, the company is prioritizing higher-margin and more capital-efficient revenue streams in a push to improve earnings quality, Chief Financial Officer Han Wang said.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

March 25, 2026 13:30 ET (17:30 GMT)

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They have fallen 38% over the past year. \n\n\n  The Chinese question-and-answer website recorded a fourth-quarter loss of 208.6 million Chinese yuan (about $29.8 million), or CNY2.66 per American depositary share. 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