Sina Science and Technology News in the early morning of March 6th Beijing time, Zhihu Inc., an online Q & A community in China, submitted an application for IPO to the Securities and Exchange Commission (SEC), seeking to be listed on the New York Stock Exchange under the symbol "ZH", Credit Suisse and Goldman Sachs Group.、 JPMorgan Chase & CoAs an underwriter.
According to the prospectus, total revenue was 1.352 billion yuan in 2020 and 671 million yuan in 2019, an increase of 101.7 percent over the same period last year. The gross profit was 758 million yuan in 2020 and 312 million yuan in 2019, an increase of 142.7% over the same period last year. The gross profit margin is 56% in 2020 and 46.6% in 2019, an increase of 20.2% over the same period last year. The net loss was 518 million yuan in 2020 and 1 billion yuan in 2019, a year-on-year decrease of 48.2%.
The following is a summary of the prospectus:
Financial performance:
Zhihu Inc. 's revenue in 2020 was 1.352 billion yuan ($207 million), up 100 percent from 670 million yuan in 2019.
The cost of revenue was 594 million yuan ($91.096 million), up 53.4 percent from 358 million yuan in 2019.
Gross profit was 758 million yuan ($116 million), up 46.6 percent from 312 million yuan in 2019.
Sales and marketing expenses were 734 million yuan ($113 million), compared with 766 million yuan in 2019.
Spending on research and development is 330 million yuan ($50.538 million), compared with 351 million yuan in 2019.
General and administrative expenses are 296 million yuan ($45.389 million), compared with 253 million yuan in 2019.
Overall operating expenses were 1.361 billion yuan ($209 million), compared with 1.371 billion yuan in 2019.
The operating loss was 603 million yuan ($92.396 million), compared with 1.058 billion yuan in 2019.
The net loss was 518 million yuan ($79.319 million), compared with a net loss of 1.004 billion yuan in 2019.
Without GAAP, the adjusted net loss was 337 million yuan ($51.719 million), compared with a net loss of 825 million yuan in 2019.
The basic and diluted net losses per share were both RMB18.36, compared with RMB22.99 per share in 2019.
As of December 31, 2020, Zhihu Inc. had cash and cash equivalents of 958 million yuan ($147 million), time deposits of 1.093 billion yuan ($167 million) and short-term investments of 1.046 billion yuan ($160 million).
As of December 31, 2019, Zhihu Inc. had cash and cash equivalents of 900 million yuan, time deposits of 1.151 billion yuan and short-term investment of 1.492 billion yuan.