Summary by Moomoo AI
Zhihu Inc., a prominent online content community in China, disclosed its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. The report, filed with the SEC for March 2024, showed a 2.2% increase in Q4 revenues year-over-year, reaching RMB1,138.3 million, and a 16.5% increase for the full year, totaling RMB4,198.9 million. The company's gross margin improved, and net losses narrowed significantly, with a 42.6% reduction in Q4 and a 46.8% reduction for the full year. The average monthly active users reached 99.0 million, and monthly subscribing members grew by 9.2% to 14.2 million in Q4. Zhihu's management highlighted the successful navigation through a challenging environment, attributing revenue growth and efficiency improvements to their multi-engine monetization strategy and community ecosystem. The company also emphasized its focus on user experience and strategic execution. Additionally, Zhihu reported the repurchase of 26.3 million Class A ordinary shares under its US$100 million share repurchase program, which is set to continue until June 10, 2024.