Image Source: Visual China
BEIJING, April 8 (TMTPOST) — China’s biggest online Q&A community Zhihu has passed listing hearing at Hong Kong Stock Exchange, documents of the website of the exchange show.
Filings with the Hong Kong Stock Exchange show that underwriters for the public listing include Credit Suisse, JPMorgan Chase, China International Capital Corporation and CMB International Capital Corporation, etc.
Zhihu’s public listing in Hong Kong might adopt dual public listing.
The company’s earnings report shows that the company’s revenue in 2021 was 2.959 billion yuan, registering year-on-year growth of 118.9%. In Q4, revenue grew 96.1% year-on-year to 1.019 billion yuan. Net loss in 2021 was 1.299 billion yuan. In 2020, the net loss was 517.6 million yuan.
Zhihu said that it invested a lot in 2021 to build and expand its content ecosystem. The company estimates that net loss would continue to happen in the near future because it still needs to invest in building and expanding its content ecosystem and improve the quality of content on its platform.
In 2021, Zhihu’s online advertising business brought in 1.161 billion yuan, registering year-on-year growth of 37.7%. Its business content solution unit generated a revenue of 974 million yuan, showing year-on-year growth of 617%. Zhihu’s paid membership business, on the other hand, generated a revenue of 669 million yuan, growing by 108.6% year-on-year. Revenues from other businesses, such as online education service and e-commerce, were 156 million yuan, growing by 196% when compared with 2020.
Zhihu said that it would continue to increase necessary cost considering the company is undergoing commercialization. The company plans to adopt new ways to cash in and acquire more active users for expansion.
As of Q4 2021, Zhihu’s average monthly active users on its mobile platform reached 99.6 million. The platform enjoyed a monthly average view of 500 million and 390 million user interaction every month.
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