知乎-W2024 中期报告

（於開曼群島註冊成立以不同投票權控制的有限責任公司） 股份代號 : 2390 2公司資料4主要摘要6業務回顧及展望10管理層討論與分析17企業管治22其他資料32中期財務資料審閱報告33未經審計簡明合併財務報表及附註89釋義 2024219 20242192024219 202465 18 Derek Chen 3485 Derek Chen PO Box 309Ugland HouseGrand Cayman KY1-1104Cayman Islands Derek Chen 22 Derek Chen ʮ̡༟ࣘ 1542 Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands 1826 486A-C 2390ZH 18127 ir.zhihu.com 183171712-1716 (1) (2) 2024 2023458.046.2%2024246.420246 2024LLM 202436 20242024630830.916.8% 2024IP 202314.4202414.7 202463074.3%302024661.9% 202425%202463074.966.612.5% 2024630192023207.1% 2024630882.42023903.92.4%2024279.111.0% 2024 2024630192023207.1%20242023630 2024630674.52023804.9 2024630882.42023903.9 2024630279.12023251.511.0% 202463058.7202378.2 2023964.117.6%2024630794.7 20242023630 20231,074.32.4%20246301,100.0202352.7%202463058.1% 2024630152023166.8% 2023986.29.2%2024630894.92024 2023419.23.0%2024630406.7 2023212.92.8%2024630207.02024 2023544.024.9%2024630408.6 2023426.720.2%2024630340.7 2023458.046.2%2024630246.4 2023342.547.4%2024630180.3 20246302024630202312315155 2024630 51.820231231 2024630 20246301.2%20231231 A 2024630 6302,1812024630 ABAB BABA17,393,666AA6.27% 8A.22BB (i)8A.17(1)(2)(3)(4)(ii)BB8A.18(iii)B8A.18(2)(iv)BA C.2.1 3.21 Derek Chen3.10(2)3.21 2410 3.25 8A.278A.282023524 DerekChen 8A.302023524 DerekChenDerek Chen ••C.2.1A••A•8A.30•8A.35 8A.30(4)(6) 2024630XV(a)XV78(b)352(c) (1)MO Holding LtdMO Holding Ltd99%South Ridge Global LimitedSouth RidgeGlobal LimitedMO Holding LtdZhihu Holdings Inc.MO Holding Ltd(2)OceanAlpha Investment Limited1,673,042SEA&SANDRA Global Limited1,106,198OceanAlpha Investment LimitedSEA&SANDRA Global LimitedOcean Alpha Investment LimitedSEA & SANDRAGlobal Limited(3)(4)10,000A202463075%75%50%Derek Chen(5)2024630277,574,285A17,393,666B 2024630XV(a)352(b) 2024630XV23336 (1)HuangRiver Investment Limited700(2)Cosmic Blue Investments Limited1024Reach Best Developments Limited37.62%Sun Loft Investments LimitedSu HuaVistra Trust (Singapore) Pte. Limited(3)MOHolding LtdMO Holding Ltd99%SouthRidge GlobalLimitedSouth Ridge Global LimitedMO Holding LtdZhihu Holdings Inc.(4)2024630277,574,285A17,393,666B(5)336 2024630XV23336 2012 20126201220122023112012 2012 2012 201212,320,000201451:898,560,000A 201220126201210 202463020121612092012 2022 202232022 2022 2022(i)13,042,731(ii)(A)26,085,463(B)2012202411202213,042,73115,294,830202463013,042,73111,036,778 122022AA1% (i)(ii) 202220222022 2022 202463020223422024116302022 (1)215 (2)(i)(ii)17.03D1%(iii)120.1% 20221212 20222022KastleLimited 2022A2.74% 2024426AAA202451020122022 9,509,45014,754,7251A8,044,051 A20246284,754,721120246288A.138A.158A.21280,377BA (1)9,509,4504,754,725AAA4,754,72120246282024426 A 2024630 13.51B(1) 2024219 202465 2024627861) 2023123113.51B(1) 2024719A9.113.5046,921,448A202471915.9%2024719 2024822 33882024630 2410 2024822 ͊຾ᄲࠇᔊ׼ʕಂΥԻ༟ପࠋවڌ ͊຾ᄲࠇᔊ׼ʕಂΥԻ຾ᐄًرʿΌࠦᑦฦڌ ͊຾ᄲࠇᔊ׼ʕಂΥԻٰ؇ᛆूᜊਗڌ ͊຾ᄲࠇᔊ׼ʕಂΥԻତݴږඎڌ 1. (a) ZhihuTechnology Limited20115172021320224A 2024630 1. (a) 201199%202155%2023100% 201799%2023100% (b) (1)(2)2024630 1. (b) (i) 10(i)(ii)(iii)(iv) 1. (b) (i) 202441%0.2 1%1%1%810-10-25-38A 1. (b) (ii) (iii) 1. (b) (iii) 2019315202011202011 • • • • 1. (b) (iii) ••••• 1. (b) (iii) 202463020231231 1. (b) (iii) 1. (b) (iii) (a)20242023630380.0467.420242023630412.4370.5202463020231231120.0130.8 1. (b) (iii) 20246302023123141.323.9 (c) 20242023630246.4458.020242023630392.058.32024630202312318,953.68,708.3 202134,838.22021415.12024630202312313,159.32,106.61,204.11,586.5646.31,769.82024630202312314,157.34,432.4 2. (a) 2023123120231231 202312312023123120231231 (b) 810 2. (c) (d) (e) 2. (e) ••• (1)(2)(3) 202463020231231 2. (f) 2024630 (g) (h) 825– (i) 2016326201911326201911 326201911 2. (i) 2024202363024.117.020242023630 (j) 12 (k) 606–606 ••• 2. (k) 2. (k) 20242023630 CPMCPDCPCCPM CPC 2. (k) CPM CPM CPC CPC CPD CPD 2. (k) 606-10-55-39 20242023630 2. (l) (m) (n) (o) 2. (p) 201220122022202271815 (q) 260AB 2. (q) (r) 505-3017 (s) 280 (t) 20242023630 2. (u) 2023112023-072802023-072023121520241215 3. (a) 2005720%20087201062010620212%2024630202320221%2%9% (b) 2024630 202463010% 202463010% 202463010%202463010% 3. (c) 2024630202312312,834.53,165.8 4. 5. 202463020231231 6. 2024630 2024202363033.817.8 7. 8. 8. 202420236309.89.0 9. MBA20234104.351%34.0%34.0%34%11.4%96.4%34.0%3.6% 9. 2024435.64.92024630 10. 201811842842 20246302023123122.040.226.945.7 10. 2024630202312310.520.92 2024630202312314.75%4.75% 2024202363018.927.5202420236303.51.7 11. 03 12. 202463020231231 13. 20242023630255.4296.9 14. 201151750,00050,000110Zhihu Holdings Inc.Innovation Works HoldingsLimited80%20% 20192018123158,808,070 20213200,0001,600,000,000(i) 1,500,000,0000.0