BEIJING - Zhihu Inc. (NYSE: ZH; HKEX: 2390), a prominent online content community in China, announced today the appointment of Mr. Bin Sun as its new Chief Technology Officer. The company disclosed the departure of former CTO Mr. Dahai Li, who resigned to serve as CEO of the AI-focused startup Modelbest, where he will continue his career. Mr. Li will maintain his position as a director at Zhihu.
Mr. Yuan Zhou, Zhihu's CEO, expressed his gratitude for Mr. Li's substantial contributions to the company and his anticipation for Mr. Li's future success at Modelbest. Mr. Zhou also welcomed Mr. Sun, highlighting his solid technical expertise and extensive industry experience.
Mr. Sun shared his enthusiasm for joining Zhihu at a critical juncture in the evolution of generative AI and the content industry. With a rich background in leading tech teams and crafting technology strategies, Mr. Sun aims to drive progress and technological advancements at Zhihu. His experience includes roles at iQIYI, Inc. as Vice President, and earlier positions at Perfect World, Microsoft (NASDAQ:MSFT), and Yahoo. Mr. Sun holds degrees in Computer Science from Harbin Institute of Technology.
Zhihu, which started as a Q&A community in 2010, has grown into a comprehensive online content community and remains the largest Q&A-inspired platform in China.
The information in this article is based on a press release statement.
In other recent news, Zhihu Inc. has disclosed an adjustment in the ratio of its American depositary shares (ADSs) to Class A ordinary shares.
This change, set to take effect on May 10, 2024, will transition from two ADSs signifying one Class A ordinary share to one ADS representing three Class A ordinary shares. For Zhihu's ADS holders, this alteration will translate to a one-for-six reverse ADS split. JPMorgan Chase (NYSE:JPM) Bank, N.A., the depositary bank for Zhihu's ADS program, will oversee the exchange process.
The company clarified that the adjustment will not impact the company's underlying Class A ordinary shares, and no shares will be issued or canceled due to the ADS Ratio Change.
InvestingPro Insights
As Zhihu Inc. (NYSE: ZH; HKEX: 2390) navigates through its executive changes and structural adjustments, investors are closely monitoring the company’s financial health and market performance. Key metrics from InvestingPro provide a snapshot of Zhihu's current financial landscape:
- The company’s market capitalization stands at a modest 311.14 million USD, reflecting its size in the competitive online content community space.
- Zhihu’s price-to-earnings (P/E) ratio is negative at -3.11, indicating that the company is not currently profitable and investors are valuing it based on future growth prospects rather than present earnings.
- Revenue growth over the last twelve months as of Q4 2023 was reported at 16.48%, showing that despite challenges, the company has managed to increase its revenue.
InvestingPro Tips that are particularly relevant to Zhihu's situation include the fact that the company holds more cash than debt on its balance sheet, which is a positive sign of financial stability. Additionally, it's worth noting that analysts do not anticipate the company will be profitable this year and they expect a sales decline in the current year. These insights can help investors understand the risks and opportunities associated with Zhihu's financial position.
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