Zhihu Inc. (ZH)

Zhihu Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	3,199	3,999	2,107	4,526	2,157	957.82
Short-Term Investments	1,411	858.9	3,356	1,736	5,055	2,139
Cash & Short-Term Investments	4,610	4,858	5,463	6,262	7,212	3,097
Cash Growth	-7.98%	-11.07%	-12.75%	-13.18%	132.90%	-12.61%
Accounts Receivable	377.54	462.22	682.93	859.05	849.82	499.89
Other Receivables	28.44	28.96	43.83	23.54	109.57	0.36
Receivables	405.99	491.18	726.77	882.59	959.39	500.25
Inventory	28.19	30.96	22.19	10.35	4.6	-
Prepaid Expenses	53.81	69.78	92.18	96.29	105.83	61.24
Restricted Cash	0.9	0.9	-	-	-	-
Other Current Assets	27.03	33.75	73.82	69.07	52.07	61.93
Total Current Assets	5,126	5,485	6,378	7,320	8,334	3,720
Property, Plant & Equipment	63.42	15.64	51.06	107.41	136.38	11.35
Long-Term Investments	165.37	51.18	44.62	-	178.52	-
Goodwill	126.34	126.34	191.08	126.34	73.66	-
Other Intangible Assets	47.36	54.53	122.65	80.24	68.31	23.48
Other Long-Term Assets	218.2	0.62	7.99	22.45	14.13	6.45
Total Assets	5,747	5,733	6,795	7,656	8,805	3,761
Accounts Payable	761.9	842.51	1,065	940.97	1,110	547.83
Accrued Expenses	203.12	327.13	406.33	334.39	372.34	269.47
Current Portion of Leases	40.94	17.31	42.09	53.19	40.53	2.89
Current Income Taxes Payable	19.09	22.08	21.39	25.98	66.18	7.07
Current Unearned Revenue	204.84	235.54	303.57	355.63	239.76	160
Other Current Liabilities	82.11	80.09	107.53	114.69	68.78	27.32
Total Current Liabilities	1,473	1,525	1,945	1,825	1,898	1,015
Long-Term Leases	27.35	1.82	3.64	43.37	82.13	-
Long-Term Deferred Tax Liabilities	34.73	6.83	22.57	11.63	14.03	-
Other Long-Term Liabilities	3.61	3.96	121.96	82.13	73.14	-
Total Liabilities	1,539	1,537	2,094	1,962	2,067	1,015
Common Stock	0.21	0.2	0.24	0.25	0.24	0.05
Additional Paid-In Capital	13,137	13,113	13,487	13,615	13,350	-
Retained Earnings	-8,815	-8,877	-8,706	-7,862	-6,281	-4,949
Treasury Stock	-184.55	-112.06	-161.64	-33.81	-	-
Comprehensive Income & Other	3.91	12.38	-20.55	-65.81	-339.12	-195.93
Total Common Equity	4,141	4,136	4,600	5,654	6,731	-5,144
Minority Interest	66.35	59.56	101.8	40.57	7.5	-
Shareholders' Equity	4,208	4,196	4,702	5,694	6,738	2,747
Total Liabilities & Equity	5,747	5,733	6,795	7,656	8,805	3,761
Total Debt	229.59	19.13	45.73	96.56	122.66	2.89
Net Cash (Debt)	4,380	4,839	5,417	6,165	7,090	3,094
Net Cash Growth	-11.17%	-10.67%	-12.13%	-13.04%	129.15%	-12.06%
Net Cash Per Share	51.13	53.07	54.33	60.67	88.56	142.18
Filing Date Shares Outstanding	82.4	84	98.15	106.35	99.69	19.77
Total Common Shares Outstanding	82.4	84	98.15	106.35	99.69	19.77
Working Capital	3,653	3,960	4,432	5,495	6,436	2,706
Book Value Per Share	50.26	49.24	46.86	53.16	67.52	-260.22
Tangible Book Value	3,967	3,955	4,286	5,447	6,589	-5,168
Tangible Book Value Per Share	48.15	47.09	43.67	51.22	66.09	-261.41
Machinery	23.37	24.07	25.77	23.95	22.65	18.74
Leasehold Improvements	21.8	21.47	19.38	14.02	13.7	10.08

Updated Aug 27, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q