ZHNYSEServices-Business Services, NECFiscal year ends December 31Also trades as ZHIHF
Zhihu Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 17, 2026
$3.44+0.05 (+1.47%)
Close on Oct 19, 2026
Zhihu Inc. revenue by segment
By business segment
By product or service
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|
| Paid membership | CN¥1.54B | CN¥1.76B | CN¥1.83B | CN¥1.23B | CN¥668.51M | CN¥320.47M | CN¥88.00M | 56.0% | -12.7% |
| Marketing services | CN¥843.93M | CN¥1.25B | CN¥1.65B | CN¥1.96B | CN¥2.13B | CN¥843.28M | CN¥577.42M | 30.7% | -32.3% |
| Others | CN¥366.13M | CN¥589.84M | CN¥719.34M | CN¥169.37M | CN¥110.12M | CN¥45.55M | CN¥4.45M | 13.3% | -37.9% |
| Content-commerce solutions | – | – | – | CN¥1.03B | CN¥973.99M | CN¥135.81M | CN¥641.00K | – | – |
| Vocational training | – | CN¥468.11M | CN¥565.59M | CN¥248.27M | CN¥45.82M | CN¥7.08M | – | – | – |
By region
From the segment and revenue-disaggregation notes of Zhihu's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.