BEIJING—Zhihu Inc., a $282 million business services company with a FAIR financial health rating according to InvestingPro, has reported a change in the location of its principal place of business in Hong Kong. The announcement was made through a Form 6-K filed with the United States Securities and Exchange Commission today.
The filing did not disclose the reason for the address change or any additional details surrounding the move. However, it signifies an administrative update for the company's operations in Hong Kong.
In the same filing, Zhihu Inc. also announced the grant of restricted share units (RSUs) under its 2022 Share Incentive Plan. The RSUs are typically used as a form of employee compensation that can align the interests of shareholders and employees by offering potential value tied to the company's stock performance.
The SEC filing serves as a formal notification of these corporate actions and is a standard requirement for foreign private issuers like Zhihu Inc. to keep U.S. markets informed of significant events. The company, which is incorporated under the laws of the People's Republic of China, has its principal executive offices located in Beijing.
Zhihu Inc. is listed under the Services-Business Services, NEC category and operates within the trade and services sector. The details provided in this report are based solely on the company's latest SEC filing and are intended to keep investors and the public informed of newsworthy corporate updates.
The company's filing did not include any promotional content or forward-looking statements. The factual nature of the announcement ensures that investors receive a clear and unbiased understanding of the company's recent administrative changes.
In other recent news, Zhihu Inc. disclosed its third quarter 2024 financial results, revealing significant strides in operational efficiency and cost reduction. The company reported its highest gross profit margin since going public, at 63.9%, and a substantial decrease in net loss by 96.8% compared to the same period last year. This progress was achieved despite a 33% drop in marketing services revenue, as the company experienced a surge in paid membership revenue to RMB469.4 million.
The recent developments also include a 35.6% reduction in total costs and operating expenses, and a noteworthy narrowing of the adjusted net loss to RMB13.1 million from RMB225.3 million in Q3 2023. Additionally, Zhihu's user base showed robust growth, with Monthly Active Users rebounding to 81.1 million.
Looking forward, Zhihu Inc. is aiming to reach breakeven by Q4 2024 and is committed to enhancing the core user experience and strengthening community trustworthiness. The company also emphasizes innovation across business segments as a priority for future growth. These recent developments underscore Zhihu's dedication to its community and sustainable ecosystem, as highlighted by CFO Wang Han and CEO Zhou Yuan.
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