Additional Information-Parent Company Only Condensed Financial Information (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Additional Information-Parent Company Only Condensed Financial Information |
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| Schedule of condensed balance sheets |
(a)Condensed balance sheets of Zhihu Inc. | | | | | | | | | As of December 31, | | | 2024 | | 2025 | | 2025 | | | | RMB in thousands | | US$ in | | | | | | | thousands | ASSETS | | | | | | | Current assets: | | | | | | | Cash and cash equivalents | | 37,711 | | 240,902 | | 34,449 | Term deposits | | 70,378 | | — | | — | Short-term investments | | — | | 71,279 | | 10,193 | Amounts due from subsidiaries and VIEs and VIEs’ subsidiaries | | 2,814 | | 2,893 | | 414 | Prepayments and other current assets | | 7,759 | | 9,727 | | 1,390 | Total current assets | | 118,662 | | 324,801 | | 46,446 | | | | | | | | Non-current assets: | | | | | | | Investments in subsidiaries | | 4,139,841 | | 3,583,957 | | 512,499 | Total non-current assets | | 4,139,841 | | 3,583,957 | | 512,499 | | | | | | | | Total assets | | 4,258,503 | | 3,908,758 | | 558,945 | | | | | | | | LIABILITIES AND SHAREHOLDER’S EQUITY | | | | | | | Current liabilities: | | | | | | | Accounts payable and accrued liabilities | | 29,858 | | 13,934 | | 1,993 | Other current liabilities | | 31,966 | | 31,253 | | 4,469 | Amounts due to subsidiaries and VIEs and VIEs’ subsidiaries | | 60,556 | | 59,435 | | 8,499 | Total current liabilities | | 122,380 | | 104,622 | | 14,961 | | | | | | | | Total liabilities | | 122,380 | | 104,622 | | 14,961 | | | | | | | | Shareholders’ equity: | | | | | | | Ordinary shares (US$0.000125 par value) | | 203 | | 207 | | 30 | Treasury stock | | (112,057) | | (275,059) | | (39,333) | Additional paid-in capital | | 13,113,010 | | 13,183,041 | | 1,885,150 | Statutory reserve | | 435 | | 706 | | 101 | Accumulated other comprehensive income/(loss) | | 12,383 | | (33,736) | | (4,824) | Accumulated deficit | | (8,877,851) | | (9,071,023) | | (1,297,140) | Total shareholders’ equity | | 4,136,123 | | 3,804,136 | | 543,984 | Total liabilities and shareholders’ equity | | 4,258,503 | | 3,908,758 | | 558,945 |
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| Schedule of condensed statements of operations and comprehensive loss |
(b)Condensed statements of operations and comprehensive loss of Zhihu Inc. | | | | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | | 2025 | | | | RMB in thousands | | US$ in | | | | | | | | | thousands | Operating expenses: | | | | | | | | | General and administrative expenses | | (45,625) | | (41,861) | | (22,159) | | (3,169) | Total operating expenses | | (45,625) | | (41,861) | | (22,159) | | (3,169) | | | | | | | | | | Loss from operations | | (45,625) | | (41,861) | | (22,159) | | (3,169) | Other income/(expenses): | | | | | | | | | Interest income | | 5,105 | | 8,559 | | 23,540 | | 3,366 | Exchange gains | | 138 | | 8 | | — | | — | Investment income | | — | | 13 | | 999 | | 143 | Share of loss of subsidiaries | | (816,004) | | (181,878) | | (219,832) | | (31,436) | Others, net | | 12,745 | | 43,357 | | 24,551 | | 3,513 | | | | | | | | | | Net loss | | (843,641) | | (171,802) | | (192,901) | | (27,583) | | | | | | | | | | Net loss attributable to Zhihu Inc.’s shareholders | | (843,641) | | (171,802) | | (192,901) | | (27,583) | | | | | | | | | | Net loss | | (843,641) | | (171,802) | | (192,901) | | (27,583) | Other comprehensive income/(loss): | | | | | | | | | Foreign currency translation adjustments | | 45,257 | | 32,934 | | (46,119) | | (6,594) | Total other comprehensive income/(loss) | | 45,257 | | 32,934 | | (46,119) | | (6,594) | | | | | | | | | | Total comprehensive loss | | (798,384) | | (138,868) | | (239,020) | | (34,177) | Comprehensive loss attributable to Zhihu Inc.’s shareholders | | (798,384) | | (138,868) | | (239,020) | | (34,177) |
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| Schedule of condensed statements of cash flows |
(c)Condensed statements of cash flows of Zhihu Inc. | | | | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | | 2025 | | | | RMB in thousands | | US$ in | | | | | | | | | thousands | Net cash (used in)/provided by operating activities | | (44,388) | | 18,577 | | 17,866 | | 2,555 | Purchases of term deposits | | (72,054) | | (69,150) | | (502,525) | | (71,860) | Proceeds from withdrawal of term deposits | | — | | 71,006 | | 564,963 | | 80,789 | Purchases of short-term investments | | — | | (35,679) | | (71,013) | | (10,155) | Proceeds of maturities of short-term investments | | — | | 35,582 | | — | | — | Repayment from subsidiaries of investment | | 284,017 | | 670,696 | | 2,377,171 | | 339,931 | Investment in subsidiaries | | — | | (258,192) | | (2,015,804) | | (288,256) | Net cash provided by investing activities | | 211,963 | | 414,263 | | 352,792 | | 50,449 | Proceeds received from employees in relation to share options and restricted shares | | 4,513 | | 1,158 | | 431 | | 62 | Payments for repurchase of shares | | (369,569) | | (400,707) | | (167,060) | | (23,889) | Net cash used in financing activities | | (365,056) | | (399,549) | | (166,629) | | (23,827) | Effect of exchange rate changes on cash and cash equivalents | | 3,340 | | 1,549 | | (838) | | (121) | Net (decrease)/increase in cash and cash equivalents | | (194,141) | | 34,840 | | 203,191 | | 29,056 | Cash and cash equivalents at beginning of the year | | 197,012 | | 2,871 | | 37,711 | | 5,393 | Cash and cash equivalents at end of the year | | 2,871 | | 37,711 | | 240,902 | | 34,449 |
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