$ZH Income Statement | Understand Stock

$ZH

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of operations and comprehensive loss

In millions of CNY; shares in millions, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Revenues (including transactions with related parties of RMB 35,147, RMB 30,830 and RMB 47,472 for the years ended December 31, 2023, 2024 and 2025, respectively)
Cost of revenues (including transactions with related parties of RMB 37,074, RMB 29,332 and RMB 21,934 for the years ended December 31, 2023, 2024 and 2025, respectively)
Gross profit
Operating expenses:
Selling and marketing expenses (including transactions with related parties of RMB 2,585, RMB 57,339 and RMB 28,158 for the years ended December 31, 2023, 2024 and 2025, respectively)
Research and development expenses (including transactions with related parties of nil, RMB 1,167 and RMB 1,388 for the years ended December 31, 2023, 2024 and 2025, respectively)
General and administrative expenses (including transactions with related parties of nil, RMB 3,792 and RMB 2,453 for the years ended December 31, 2023, 2024 and 2025, respectively)
Impairment of goodwill
Total operating expenses
Loss from operations
Other income/(expenses):
Investment income
Interest income
Fair value change of financial instrument
Fair value change of financial instruments
Exchange gains/(losses)
Others, net
Loss before income tax
Income tax (expenses)/benefits
Net loss
Net (income)/loss attributable to noncontrolling interests
Accretions of convertible redeemable preferred shares to redemption value
Comprehensive loss attributable to Zhihu Inc.'s shareholders
Net loss attributable to Zhihu Inc.'s shareholders

Total other comprehensive loss
Other comprehensive income/(loss):
Foreign currency translation adjustments
Total other comprehensive income/(loss)
Total comprehensive loss
Comprehensive (income)/loss attributable to noncontrolling interests
Comprehensive loss attributable to Zhihu Inc.'s shareholders
Net loss per share, basic
Net loss per share, diluted
Weighted average number of ordinary shares, basic
Weighted average number of ordinary shares, diluted

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