ZHIHU-W (02390) released its first-quarter financial results, with adjusted net profit of 17.2 million yuan, a year-on-year increase of 147.2%.

ZHIHU-W (02390) released its first quarter results for the three months ending March 31, 2026. The group achieved total revenue of 651.5 million yuan (same unit), a decrease of 10.7% year-on-year; Zhihu's net loss attributable to shareholders was 8.504 million yuan, a decrease of 15.75% year-on-year; adjusted net profit was 17.2 million yuan, an increase of 147.2% compared to the previous year. Zhihu's Chairman and CEO, Mr. Zhou Yuan, said, "With the advancement of our high-quality growth strategy, we achieved a solid start in the first quarter of 2026. The community ecosystem continues to improve, user structure continues to optimize, user engagement and social interaction further increase; content creators remain highly active, contributing authentic and high-quality content continuously; AI capabilities are accelerating integration with the community ecosystem and business operations, further unlocking community value. On this basis, our core business maintains positive development momentum, new business initiatives continue to show good growth, and bring significant incremental contributions. Looking ahead, we will continue to focus on improving operational profitability, steadily promote AI-related commercial exploration, and continue to unleash the unique value of real community in the AI era, promoting the long-term healthy development of our business." Zhihu's Chief Financial Officer, Mr. Wang Han, said, "The first quarter performance reflects the resilience of our financial model, with adjusted net profit of 17.2 million yuan, a 147.2% year-on-year growth, and achieving a strong turnaround from losses in the previous quarter. In this quarter, thanks to our strict execution of efficiency-driven strategy, total operating expenses decreased by 10.4% year-on-year, our gross profit margin increased to 59.6% quarter-on-quarter, driving the continuous improvement of our profitability quality. Looking ahead, we will continue to drive high-quality growth through improving operational efficiency and prudent capital allocation, including share buybacks, while always focusing on maximizing long-term shareholder value."