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Zhihu Inc. logo

Zhihu Inc.

2390.HK

HKSECommunication ServicesInternet Content & Information

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Latest quote

HK$8.27

−HK$0.055 · -0.66%

Aug 24, 4:08 PM HKT

2390.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Zhihu Inc. operates a prominent online content community in the People's Republic of China, providing a platform where users can discover inspiration, find solutions, make informed decisions, and engage in enjoyable activities. Beyond this core offering, the company also furnishes a variety of services, including technology and business support, consulting, information transmission, software and information technology solutions, marketing intelligence, professional training, and general internet services. Additionally, it holds an audio-visual content permit. Established in 2010, Zhihu Inc. is headquartered in Beijing, China.

Industry
Internet Content & Information
Sector
Communication Services
Headquarters
CN
CEO
Yuan Zhou
Listed since
Apr 22, 2022
Employees
1,154

Market position

Day range

Current HK$8.27

52-week range

Current HK$8.27

Open
HK$8.30
Previous close
HK$8.325
Volume
17.4K
0.52× average
Average volume
33.68K
Average daily volume
Market cap
2.01B HKD
Beta
0.27
Market reference 1
50-day average
HK$8.2322
+0.46% above average
200-day average
HK$8.6884
-4.82% below average

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends71%28%-15%-58%Gross margin, FY2021: 52.51%Gross margin, FY2022: 50.16%Gross margin, FY2023: 54.68%Gross margin, FY2024: 60.60%Gross margin, FY2025: 59.94%Operating margin, FY2021: -46.99%Operating margin, FY2022: -44.49%Operating margin, FY2023: -25.54%Operating margin, FY2024: -13.37%Operating margin, FY2025: -18.45%Net margin, FY2021: -43.89%Net margin, FY2022: -43.78%Net margin, FY2023: -20.09%Net margin, FY2024: -4.77%Net margin, FY2025: -7.02%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 52.51%. Gross margin FY2022 50.16%. Gross margin FY2023 54.68%. Gross margin FY2024 60.60%. Gross margin FY2025 59.94%. Operating margin FY2021 -46.99%. Operating margin FY2022 -44.49%. Operating margin FY2023 -25.54%. Operating margin FY2024 -13.37%. Operating margin FY2025 -18.45%. Net margin FY2021 -43.89%. Net margin FY2022 -43.78%. Net margin FY2023 -20.09%. Net margin FY2024 -4.77%. Net margin FY2025 -7.02%.

Income trends

Revenue

2.75B HKD-23.62%

Operating income

−507.29M HKD-5.45%

Net income

−192.9M HKD-12.28%
Income trends across reported periods4.78B HKD2.46B HKD137.04M HKD−2.18B HKDRevenue, FY2021: 2.96B HKDRevenue, FY2022: 3.6B HKDRevenue, FY2023: 4.2B HKDRevenue, FY2024: 3.6B HKDRevenue, FY2025: 2.75B HKDOperating income, FY2021: −1.39B HKDOperating income, FY2022: −1.6B HKDOperating income, FY2023: −1.07B HKDOperating income, FY2024: −481.08M HKDOperating income, FY2025: −507.29M HKDNet income, FY2021: −1.3B HKDNet income, FY2022: −1.58B HKDNet income, FY2023: −843.64M HKDNet income, FY2024: −171.8M HKDNet income, FY2025: −192.9M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.96B HKD. Revenue FY2022 3.6B HKD. Revenue FY2023 4.2B HKD. Revenue FY2024 3.6B HKD. Revenue FY2025 2.75B HKD. Operating income FY2021 −1.39B HKD. Operating income FY2022 −1.6B HKD. Operating income FY2023 −1.07B HKD. Operating income FY2024 −481.08M HKD. Operating income FY2025 −507.29M HKD. Net income FY2021 −1.3B HKD. Net income FY2022 −1.58B HKD. Net income FY2023 −843.64M HKD. Net income FY2024 −171.8M HKD. Net income FY2025 −192.9M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue2.75B HKD3.6B HKD4.2B HKD3.6B HKD2.96B HKD
Cost of goods sold1.1B HKD1.42B HKD1.9B HKD1.8B HKD1.41B HKD
Gross profit1.65B HKD2.18B HKD2.3B HKD1.81B HKD1.55B HKD
Research and development525M HKD732.55M HKD901.45M HKD763.36M HKD619.59M HKD
Selling, general, and administrative1.5B HKD1.93B HKD2.47B HKD2.65B HKD2.33B HKD
Operating expenses2.16B HKD2.66B HKD3.37B HKD3.41B HKD2.94B HKD
Interest income295.55M HKD114.96M HKD158.67M HKD68.1M HKD31.31M HKD
Depreciation and amortization19M HKD24.89M HKD24.89M HKD25.21M HKD21.45M HKD
Operating income−507.29M HKD−481.08M HKD−1.07B HKD−1.6B HKD−1.39B HKD
Net income−192.9M HKD−171.8M HKD−843.64M HKD−1.58B HKD−1.3B HKD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
67%
4 beats, 2 misses, 0 met estimates
Average EPS surprise
-101.96%
6 comparable reports
Latest EPS result
-0.1

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.410.13-0.15-0.43Q4 '24No estimateQ1 '25No estimateQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26No estimateQ3 '26Estimate
Q4 2024, reported Nov 27, 2024: actual -0.042, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 25, 2025: actual 0.354, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 27, 2025: actual -0.04, estimate -0.081, surprise +50.56%, Beat. Q3 2025, reported Aug 25, 2025: actual 0.329, estimate -0.046, surprise +820.31%, Beat. Q4 2025, reported Nov 24, 2025: actual -0.213, estimate -0.042, surprise -404.36%, Miss. Q1 2026, reported Mar 25, 2026: actual -0.37, estimate -0.03, surprise -1124.57%, Miss. Q2 2026, reported Jun 3, 2026: actual -0.105, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 26, 2026: actual —, estimate -0.031, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates972.47M870.59M768.71M666.83MQ4 '24BeatQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Nov 27, 2024: actual 935.07M HKD, estimate 880.64M HKD, surprise +6.18%, Beat. Q1 2025, reported Mar 25, 2025: actual 914.03M HKD, estimate 881.28M HKD, surprise +3.72%, Beat. Q2 2025, reported May 27, 2025: actual 778.63M HKD, estimate 851.72M HKD, surprise -8.58%, Miss. Q3 2025, reported Aug 25, 2025: actual 784.35M HKD, estimate 792.97M HKD, surprise -1.09%, Miss. Q4 2025, reported Nov 24, 2025: actual 720.12M HKD, estimate 704.23M HKD, surprise +2.26%, Beat. Q1 2026, reported Mar 25, 2026: actual 729.49M HKD, estimate 715.65M HKD, surprise +1.93%, Beat. Q2 2026, reported Jun 3, 2026: actual 735.11M HKD, estimate 715.14M HKD, surprise +2.79%, Beat. Q3 2026, reported Aug 26, 2026: actual —, estimate 820.6M HKD, surprise —, Comparison unavailable.

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