Zhihu-W Rises Over 16% in Early Trading, Long-term Fund Fidelity International Continues to Increase Holding

Zhihu-W (02390) rose 16.05% in early trading, with its stock price now reported at HKD13.52 and a trading volume of HKD587.385 million.

Zhihu-W is set to hold a board meeting on August 27 to consider and approve its interim results. Previously, Zhihu-W released its quarterly earnings up to March 31, 2025, during which the group achieved total revenue of HKD7.3 billion; gross profit margin increased from 56.6% in the same period last year to 61.8%; net loss was HKD1.01 billion, a reduction of 93.9% compared to the same period last year; and basic earnings per share were HKD0.04. Zhihu's chairman and CEO, Zhou Yuan, said that the company has achieved its first-ever non-IFRS profit for the first quarter since listing, continuing the profitable trend seen in the fourth quarter. This achievement is a result of the company's refined operations strategy and the deep integration of artificial intelligence into the Zhihu ecosystem.

Notably, on July 30, Fidelity International, a global investment institution, released its regulatory filing showing that it had significantly increased its holdings in Zhihu-W by July 25. The fund held 1,248.9 million ordinary shares, accounting for 5.01% of all outstanding A-class ordinary shares issued by Zhihu. This is Fidelity International's third consecutive increase in holdings since the end of 2024. In addition to long-term funds, other analysts such as Citigroup, Morgan Stanley, and China Renaissance have successively raised their estimates of Zhihu's future development.