知乎2023年第二季度财务报告ZH2Q23EarningsRelease_0823[94]-英_市场.docx

ZhihuInc.ReportsUnauditedSecondQuarter2023FinancialResultsBEIJING,China,August23,2023ZhihuInc.("Zhihu"orthe“Company")(NYSE:ZH;HKEX:2390),aleadingonlinecontentcommunityinChina,todayannounceditsunauditedfinancialresultsforthequarterendedJune30,2023.SecondQuarter2023Highlights TotalrevenueswereRMB1,044.2million(US$144.0million)inthesecondquarterof2023,representinga24.9%increasefromthesameperiodof2022. NetlosswasRMB279.1million(US$38.5million)inthesecondquarterof2023,narrowedby42.7%fromthesameperiodof2022. Adjustednetloss(non-GAAP),ljwasRMB222.3million(US$30.7million)inthesecondquarterof2023,narrowedby49.9%fromthesameperiodof2022. Averagemonthlyactiveusers(MAUS)reached109.4millioninthesecondquarterof2023,upfrom105.9millioninthesameperiodof2022. Averagemonthlysubscribingmembers131reached14.0millioninthesecondquarterof2023,representinga65.3%increasefromthesameperiodof2022.“Inthesecondquarterof2023,Wecontinuedtoachievehigh-qualitygrowthandoptimizeouroperatingefficiency,saidMr.YuanZhou,chairmanandchiefexecutiveofficerofZhihu.ttMeanwhile,ourdedicationtocontentenrichmentencourageddeeperuserengagementandinspiredourcontentcreators.BolsteredbyZhihu,sprominentbrandnameandcomprehensiveproductofferings,ourpaidmembershipandvocationaltrainingbusinessescontinuedtogrowrapidly.Wealsoremainedcommittedtoinvestingincutting-edgetechnologytoimprovecontentconsumptionefficiencyanddevelopnewuserexperiences.Mr.HenrySha,chieffinancialofficerofZhihu,added,4fcOurmulti-enginebusinessmodeldeliveredsolidresultsthisquarterwithsustainablegrowthmomentum.Ourtotalrevenueincreasedby24.9%yearoveryear,benefitingfromourrobustandgrowingpaidmembershipandvocationaltrainingbusinesses.Ourgrossmarginalsoexpandedfurtherduringthequarter,by6percentagepointsyearoveryearto53.8%,boostedbyoureffectiveandongoingcostcontrolmeasures.Incomparisonwiththesameperiodlastyear,ouradjustednetlossnarrowedby49.9%.Goingforward,wewillcontinuetoconcentrateonourlossreductionstrategyandworkingtoachievehealthygrowth.”SecondQuarter2023FinancialResultsTotalrevenueswereRMB1,044.2million(US$144.0million)inthesecondquarterof2023,representinga24.9%increasefromRMB836.0millioninthesameperiodof2022.Marketingservicesrevenue141wasRMB412.7million(US$56.9million),comparedwithRMB478.1millioninthesameperiodof2022.Thedecreasewasprimarilyduetoongoingrefinementofserviceofferingstostrategicallyfocusonmarginimprovement.PaidmembershiprevenuewasRMB449.1million(US$61.9million),representinga65.6%increasefromRMB271.2millioninthesameperiodof2022.Theincreasewasprimarilyattributabletothecontinuedgrowthofoursubscribingmembers,drivenbyourcontentenhancementsandimproveduserexperience.VocationaltrainingrevenuewasRMB144.5million(US$19.9million),representinga213.3%increasefromRMB46.1millioninthesameperiodof2022.Thesignificantincreasewasprimarilyattributabletoourfurtherenrichedonlinecourseofferingsandtherevenuecontributionsfromourrecentlyacquiredbusinessesintheperiod.OtherrevenueswereRMB37.9million(US$5.2million),comparedwithRMB40.7millioninthesameperiodof2022.Costof,revenuesincreasedby10.5%toRMB482.1million(US$66.5million)fromRMB436.4millioninthesameperiodof2022.TheincreasewasprimarilyduetothegrowthofcontentandoperatingcostsasWecontinuedtoenhanceourcontentattractiveness,aswellasanincreaseinpaymentprocessingcostsdrivenbyourrevenuegrowth,andwaspartiallyoffsetbythedecreaseincloudservicesandbandwidthcosts.Grossprofitincreasedby40.7%toRMB562.1million(US$77.5million)fromRMB399.6millioninthesameperiodof2022.Grossmarginexpandedto53.8%from47.8%inthesameperiodof2022,primarilyattributabletoourenhancedmonetizationeffortsandtheimprovementofcloudservicesandbandwidthutilizationefficiency.TotaloperatingexpenseswereRMB889.3million(US$122.6million),comparedwithRMB860.3millioninthesameperiodof2022.SellingandmarketingexpensesincreasedtoRMB540.6million(US$74.6million)fromRMB532.4millioninthesameperiodof2022.Theslightincreasereflectsourcontinuedeffortsinpromotingourproductandserviceofferings.ResearchanddevelopmentexpensesincreasedtoRMB236.2million(US$32.6million)fromRMB223.6millioninthesameperiodof2022.Theincreasewasprimarilyattributabletoourincreasedspendingintechnologyinnovation.GeneralandadministrativeexpensesincreasedtoRMB112.5million(US$15.5million)fromRMB104.3millioninthesameperiodof2022.Theincreasewasprimarilyduetoincreasedsharebasedcompensationexpenses.1.ossfromoperationsnarrowedby29.0%toRMB327.2million(US$45.1million)fromRMB460.7millioninthesameperiodof2022.Adjustedlossfromoperations(non-GAAP)u,narrowedby35.4%toRMB269.4million(US$37.2million)fromRMB416.8millioninthesameperiodof2022.Netlossnarrowedby42.7%toRMB279.1million(US$38.5million)fromRMB487.0millioninthesameperiodof2022.Adjustednetloss(non-GAAP)t11narrowedby49.9%toRMB222.3million(US$30.7million)fromRMB443.8millioninthesameperiodof2022.DilutednetlossperAmericanDepositaryShare("ADS”)wasRMB0.46(US$0.06),comparedwithRMB0.79inthesameperiodof2022.Cashandcashequivalents,termdepositsandshort-terminvestmentsAsofJune