Exhibit 99.

(A company controlled through weighted voting rights and incorporated in the Cayman Islands with limited liability)

Stock Code : 2390

Environmental, Social and

2025
Governance Report
CONTENTS
2 About This Report 51 04 Contributing to Social Value
3 Message from the Founder, 51 4.1 Supporting Rural Revitalization
Chairman and CEO 52 4.2 Consolidating Online Positive Energy
53 4.3 Focusing on Public Emotional Health
5 Statement from the Board
54 4.4 Assisting in Ecological Environmental
5 Awards and Honors
Protection
6 Performance Highlights
55 05 Responsible Governance
7 Sustainable Development Management 55 5.1 Corporate Governance Structure
13 01 Creating Community Value 56 5.2 Risk Management
13 1.1 Co-building a Robust Content 58 5.3 Fostering a Fair Business Environment
Governance Ecosystem and Fostering 62 5.4 Ensuring Responsible Supply Chain
an Amicable Community Management
19 1.2 Building a Healthy Advertising
65 06 Advocating for Environmental
Ecosystem and Establishing a
Protection
Community of Integrity
65 6.1 Addressing Climate Change
20 1.3 Incentivizing Creation and Building a
71 6.2 Practicing Green Operations
Vibrant Community
73 6.3 Advocating Environmental Concepts
23 1.4 Technological Innovation for a Smart
76 Appendix
Community
76 Key Performance Table
26 1.5 Intellectual Property Rights Protection
80 Reporting Guide Content Index
28 02 Improve Service Quality and
92 Opinions and Feedback
Create Responsible Products
28 2.1 Information Security and Privacy
Protection
36 2.2 Product Responsibility and Digital
Inclusion
38 2.3 Listening to Users, Optimizing Services
41 03 Creating a Happy Workplace
41 3.1 Protecting Employee Rights and
Supporting Diversity and Inclusion
42 3.2 Strengthening Talent Development
and Succession
45 3.3 Building a Workplace with a Sense of
Belonging
49 3.4 Caring for Employee Health and
Safety
2 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

ABOUT THIS REPORT

Report Overview
This is the 2025 Environmental, Social, and Governance (“ESG”) Report of Zhihu Inc.. We hope that this report can convey
our philosophy and management practices in ESG and promote understanding and communication with our stakeholders.

Report Scope
Unless otherwise specified, this report covers the information and data of Zhihu Inc. (the “Company”) and its subsidiaries
(collectively, the “Zhihu”, the “Group” or the “we”) from January 1, 2025 to December 31, 2025 (the “Reporting Period”).

Report Preparation Principles

This report is issued pursuant to Appendix C2 Environmental, Social, and Governance Reporting Code (The “ESG Reporting
Code”) applicable for the Reporting Period as set out in the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited (the “Listing Rules”). This report complies with the “comply or explain” provisions outlined
in the ESG Reporting Code and is prepared following reporting principles such as materiality, quantitative, balance, and
consistency, in a bid to fully reflect the Company’s ESG management and performance during the Reporting Period.

• “Materiality”: This report has comprehensively identified key stakeholders and ESG topics of their concern and has
made disclosures on ESG matters based on the relative importance of these topics. This report is prepared based on the
results of the materiality assessment. For details on the materiality assessment work, please refer to the subsequent
sections “Stakeholder Communication” and “Materiality Assessment”.

• “Quantitative”: This report presents key performance indicators (KPIs) in respect of ESG in quantitative terms. The
measurement criteria, methodology, assumptions, and/or calculation tools for the KPIs in this report, as well as the
sources of conversion factors used, have been described where appropriate.

• “Balance”: This report objectively discloses both positive and negative information to ensure that the content presents
the Company’s ESG performance during the Reporting Period in an unbiased way.

• “Consistency”: Unless otherwise specified, the statistical criteria and methods used in this report are consistent with
those of previous years. Unless otherwise indicated, the proprietary terms in this report are consistent with the
definitions in Zhihu’s 2025 annual report published on the same day as this ESG report.

Contact Us
We highly value the opinions of our stakeholders. This report is available in both Chinese and English for readers’ reference.
You may also obtain the electronic version of the report on Zhihu’s Investor Relations website ([Link] or the
website of the Stock Exchange ([Link] For any comments or suggestions regarding our ESG
governance, please contact us via email. We look forward to your valuable input.

Email: ir@[Link]
Phone: 86-10-8721-6603
 Environmental, Social and Governance Report 2025 3

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

MESSAGE FROM THE FOUNDER, CHAIRMAN AND

CEO
On January 26, 2026, Zhihu marked its fifteenth anniversary. Since its launch in 2011, when the community’s first question,
“How to properly use Zhihu,” opened a new chapter in knowledge sharing, Zhihu has grown into an important platform
where people explore the world and seek answers, bringing together more than 80.3 million professional creators.

Over the course of this journey, we have come to appreciate that the sustainable development of an internet company is
inseparable from three fundamentals: creating user value, fostering a strong corporate culture, and fulfilling social
responsibility. These three elements reinforce one another and have defined Zhihu’s development over the past fifteen
years. They also remain the foundation that guides us as we look to the future and pursue long-term, steady growth.

We have always believed that Zhihu’s value comes from each and every user. Over the past fifteen years, we have remained
user-oriented, committed to protecting the value of creation and enhancing user experience, helping Zhihu become a
leading platform for high-quality content and expert communities across the Chinese internet.

In 2025, during China’s first National Science Popularization Month, Zhihu invited academicians Han Jisheng , Pang
Guofang and Li Jianann , together with leading scientists and members of our creator community, to
engage in dialogue and carry forward the spirit of scientific inquiry. We also partnered with research institutions to launch
a series of science outreach initiatives, including our Science Season , Science Open Mic and Yan
Salon . These initiatives brought together distinguished scholars, science experts and creators in diverse formats,
helping the public better understand and engage with cutting-edge technologies, including AI, while connecting knowledge
with the frontiers of science and the questions people face today.

In 2025, Zhihu also actively expanded industry collaboration. Through diverse formats such as online literature, film and
television adaptations, short drama adaptations and AI-powered comic adaptations, we helped extend the reach of
outstanding creators across the content value chain, enabling quality stories to reach a broader audience while creating
more tangible returns for creators. At the same time, we worked with relevant authorities, partners and users to combat
infringement, cyberbullying and other unlawful conduct, and to help foster a cleaner online environment.

We are encouraged to see the different ways in which value is created on Zhihu. Some people come here to find answers
to practical problems. Some open new doors to knowledge and understanding. Others choose to question convention,
uphold authenticity, and pursue truth and change.

Zhihu also seeks to connect knowledge with social care, bringing greater warmth and inclusiveness to the internet. In 2025,
together with the Chinese Association for Mental Health, we launched the “Psychological Tuning Program,” inviting 13
frontline psychologists and experts to participate in online roundtables and offline salon events, providing emotional
support and mental health guidance to the public. We continued to improve accessibility within our community by inviting
professional accessibility organizations and individuals to contribute to dedicated columns, helping make knowledge more
accessible to all. We also supported rural revitalization by bringing together expertise, including agricultural economists, to
provide intellectual support for rural industrial development and help turn knowledge into a lasting source of momentum
for rural development.
4 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Over the past fifteen years, Zhihu has consistently upheld a talent-first philosophy, fostering a diverse and inclusive
workplace where every employee is encouraged to leverage their strengths and realize their potential.

As of the end of 2025, women represented 57% of our workforce. We have established dual career development
pathways, comprising both management and professional tracks, to provide clear growth opportunities for employees
across different functions. We also achieved 100% training coverage, with average training hours reaching 15.6 hours per
employee. From ESG-focused training and information security compliance education to professional capability building and
leadership development, we are committed to supporting the mutual growth of our employees and the Company.

Over the past fifteen years, Zhihu has embedded the community’s spirit of seeking truth into its operations and
management. We have established a “three lines of defense” risk management framework and strengthened our
commitment to business ethics through digitalized monitoring and audit mechanisms, as well as end-to-end integrity
controls. We have also built multiple communication channels, including the “Polaris Mailbox”, our internal employee
feedback channel, to ensure that every employee’s voice can be heard and valued, enabling the Company to continue
improving through reflection and optimization. More importantly, we encourage every employee to put our community
culture into practice and to uphold “creating value for users” as a core working principle.

For the past fifteen years, Zhihu has also sought to lead by example in green development and to demonstrate corporate
responsibility through concrete actions. In terms of green operations, we have promoted green office practices, achieved
100% waste sorting and 100% recovery and proper disposal of hazardous waste, and incorporated energy consumption
indicators into the evaluation system for data center suppliers, as part of our practical efforts to support China’s “dual
carbon” goals. We have also actively applied AI technologies to improve operational efficiency, optimize costs, and provide
users with more efficient services and experiences.

Fifteen years on, our original aspiration remains unwavering, and our efforts have never ceased. From the first line of code
written at a free desk in Sanlitun to becoming a trusted Q&A community for hundreds of millions of users, Zhihu’s fifteen-
year journey has been one of growing together with our users, advancing alongside the industry, and putting the principles
of sustainable development into practice. Standing at this new starting point, we are fully aware that the road ahead
remains long, and that only through continued dedication can we move forward steadily.

Looking ahead, we will continue to stay true to our mission of To Empower People to Share Knowledge, Experience, and
Insights, and to Find Their Own Answers. Together with our users and partners, we will continue to write the next chapter
of a future that is warmer, more responsible and more sustainable, on the path of creating value through knowledge.

Yuan Zhou
Chairman, Founder and CEO
 Environmental, Social and Governance Report 2025 5

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

STATEMENT FROM THE BOARD

Zhihu has established a three-tier ESG governance structure to coordinate various departments in advancing ESG initiatives,
ensuring resource investment and the effective implementation of ESG work. As the highest decision-making body for the
Group’s ESG matters, the Board of Directors (the “Board”) is responsible for overseeing and managing ESG-related issues,
bearing ultimate responsibility for the Group’s ESG strategies and reporting, and monitoring ESG-related matters that may
affect the Company’s business or operations, shareholders, and other stakeholders. The Corporate Governance Committee,
established under the Board, is primarily responsible for evaluating ESG risks relevant to the Group and ensuring the
establishment of an appropriate and effective risk management and internal control system. In the process of overseeing
Group strategies, major transaction decisions, risk management procedures, and related policies, the Committee fully
considers the trade-off assessment of climate-related risks and opportunities; meanwhile, the Committee is also responsible
for reporting the progress of relevant ESG targets to the Board and conducting periodic reviews.

Through regular meetings, the Corporate Governance Committee reviews and approves the Company’s sustainability targets
(including climate-related risks and opportunities targets). The ESG Working Group guides and monitors the development
and implementation of the Company’s ESG vision, strategy, and framework, reviews the Company’s material ESG issues and
key ESG risks and opportunities, monitors communication channels and methods with shareholders, and reviews the
Company’s ESG-related disclosures.

The Group attaches great importance to the suggestions and opinions of various stakeholders. We have established
sufficient communication channels to engage with key stakeholders, and based on the results of such communications, we
discuss and determine the Group’s material ESG issues as well as potential climate-related risks, continuously improving
ESG-related strategies, policies, and systems. During the reporting year, the Board approved the ESG material issues and
passed the proposal regarding the adjustment of the materiality levels of various ESG issues to ensure the timeliness and
rationality of the materiality matrix.

The Board and all directors guarantee that there are no false records, misleading statements, or material omissions in this
report, and assume responsibility for the truthfulness, accuracy, and completeness of the report. This report provides a
detailed disclosure of the progress and effectiveness of the Group’s ESG work in 2025 and was reviewed and approved by
the Board on April 17, 2026.

AWARDS AND HONORS

“Move Forward, the Future Will Give You the Answer
Awarded by the Beijing Municipal Committee of the
– A Special Feature Celebrating the 75th Anniversary
Communist Party of China’s Internet Enterprise
of the Founding of the PRC” by the Cyberspace
Working Committee
Administration of China.

Beijing’s key internet-based Party building “Excellent Award” in “Positive Energy Online Activities

Issued by the Cyberspace Issued by the Cyberspace

Issued by Mai Mai
Administration of China in 2025 Administration of China in 2025

2024 Business Development 2024 Outstanding Platform for “Clean

“Employer of the Year” Award
Contribution Award Internet” Action
6 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

2025 PERFORMANCE HIGHLIGHTS

Co-creating Community Value

1,236 articles debunking rumors Annual fraudulent interactions cleared was

Automatic identification and
published, with a total of approximately interception rate of fraud:
3.053 million
120,000 views. 30%

The revenue penetration rate among active

Achieved an advertising review and Cumulative trademarks
creators has stabilized at a high level of
detection accuracy rate of 90% over 70%
granted was 1,323

Improving Service Quality and Delivering Responsible Products

The pass rate for all employees’

Security testing before code The year-on-year Net Promoter Score
cybersecurity and data security
construction achieved an (NPS) for “Yanyan creators“ increased by
awareness training and assessment
accuracy rate of 90% 47%
reached 99.96%.
Obtained
Average satisfaction of core users Level 3 Certified Protection of Cybersecurity (MLPS 2.0)
was over 97% ISO/IEC 27701:2019 Privacy Information Management System certification
ISO/IEC 27001:2022 Information Security Management System certification

Fostering a Positive and Supportive Workplace Environment

Female employees accounted for Total training hours for employees Fire drill participation rate was 84 %,
57% of our workforce during the year was 27,955 hours and all staff passed the assessment.

Strengthening Responsible Governance

Female director accounted for 14 % of the Board of 1,061 core and key suppliers have been included in
Directors. standardized management practices.

Promoting Environmental Protection Awareness

The office building saved more than

Hazardous waste recovery and Annual minimum PUE for offline
380,000 kilowatt-hours of electricity treatment rate was 100% business rooms: 1.16
compared to last year

Established Scope 2 For the current year, Scope 2 greenhouse gas (GHG) emissions totaled
Greenhouse Gas (GHG) 794 tonnes of CO2 equivalent (tCO2e), representing a year-on-year
Emission Intensity targets (YoY) decrease of 15 %
 Environmental, Social and Governance Report 2025 7

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

SUSTAINABLE DEVELOPMENT MANAGEMENT

ESG Governance Structure
The Group firmly believes that excellent ESG governance capabilities are the key to long-term sustainability. To this end, we
continuously optimize our ESG governance structure and institutional systems, striving to enhance governance effectiveness.
We have established a three-tier governance system comprising the “Board of Directors – Corporate Governance Committee
– ESG Working Group,” with the Board serving as the highest responsible body. Through the Board’s oversight and
decision-making, the Corporate Governance Committee’s overall management, and the ESG Working Group’s
implementation, we ensure that ESG concepts are deeply integrated into the Group’s overall strategy and daily operations,
comprehensively enhancing Zhihu’s performance in the field of sustainable development.

Decision-making Level
• Acts as the Group’s highest ESG oversight and decision-making
body, bearing ultimate responsibility for ESG strategic targets
• Reviews, approves, and periodically reviews the Company’s ESG
vision, strategy, targets, and policies
• Reviews risks and materiality related to the Company’s ESG
matters, ensuring that material ESG risks are incorporated into
Board of the Group’s risk management system.
Directors • Oversees and reviews the Company’s policies, management,
performance, and progress toward targets related to ESG
matters.
Supervise and
Report Management Level
Authorize • Evaluates and formulates the Company’s ESG action plans and
targets (including climate-related targets), coordinates resources
to provide support for ESG initiatives, and guides and supports
Corporate the implementation of ESG work.
• Identifies, determines, and assesses risks and materiality related
Governance Committee to the Company’s ESG matters.
• Oversees and manages the identification, reporting, and
mitigation measures of climate-related risks.
Supervise and • Reviews the annual ESG report and reports any material matters
Report to the Board.
Authorize
Executive level
• Carries out ESG-related practices, promotes the implementation
of ESG matters, and integrates sustainable development into
ESG Working Group daily operations.
• Coordinates the preparation of the annual ESG report and
stakeholder engagement work.
• Collects and reports ESG-related performance and indicators to
the ESG team.
• Identifies and updates the Corporate Governance Committee
on risks and opportunities, as well as feasible mitigation
measures.
8 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Stakeholder Communication
Following rigorous assessment and analysis, the Group identified six key stakeholders with a profound impact on the
company’s development. These stakeholders each have different concerns, and the Group has developed diverse
communication channels and proactively taken action to address them. The table below details the concerns of each
stakeholder, the communication channels the Group uses, and the corresponding response measures.

Key Stakeholders Concerns and Expectations Key Communication Channels Main Responses

• High-quality products and • Platform service • Optimizing product experience and

services • Feedback and communication service technology
• Data and information security • Social media interaction • Standardize copyright protection
• Privacy protection • Continuously enhancing
• Intellectual property information security management
User protection • Commitment to product
responsibility
• Responsible marketing

• Employee rights and benefits • Internal employee online • Conducting team building and
• Employee training and communication platform employee care activities
development • Performance evaluation • Developing a competitive
• Employee health and safety • Dedicated feedback email for compensation system and welfare
• Equality and diversity the company protection mechanism
• Internal communication sessions • Strengthening occupational health
Employee and safety management
• Organizing employee training and
continuously improving the training
system

• Timely and accurate disclosure • Regular reports and • Optimizing internal control and
• Sustained and robust business announcements internal audit capabilities
development • Shareholders’ meeting • Strengthening information
• Corporate governance and • Investor relations website disclosure
Stakeholder risk management • Communicating with investors • Achieving steady growth in
and Investors via emails and meetings business performance and
enhancing sustainable profitability

• Stable and efficient supply • On-site inspections and • Participating in industry activities to
• Long-term, win-win engagement visits promote industry development
cooperation • Industry conferences • Improving supply chain
• Fair competition • Supplier management standards management mechanisms
Suppliers • Supplier performance • Implementing digital management
and Partners management system to promote efficient, transparent,
• Procurement system and standardized cooperation

• Compliance with laws and • Project collaboration • Compliance with the code of
regulations • Information disclosure business conduct
• Healthy competition in the • Policy consultation • Optimizing internal control and
industry • Regulatory supervision compliance management
• Emphasis on environmental • Regulatory agency training • Enhancing anti-corruption
Government protection and information • Official visits management
and Regulators security • Promoting green environmental
protection concepts

• Corporate social responsibility • Public service projects • Contributing to rural revitalization

• Community security • Social media and equitable education
• Promotion of economic and • Company website • Continuously strengthening
social development • Community activities cybersecurity governance
• Industry cooperation and • Fostering functional innovations in
Community and empowerment technological and teaching
Non-governmental products
Organizations • Leveraging platform advantages to
promote positive energy
 Environmental, Social and Governance Report 2025 9

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Materiality Assessment
The assessment of materiality issues helps Zhihu identify risks and opportunities related to sustainable development, specify
areas for improvement, and enhance the transparency of this report, sharing the Group’s progress in sustainable
development with stakeholders. During the Reporting Period, we used online questionnaires to understand the concerns of
stakeholders. The process of assessing materiality issues mainly consists of four steps: review, identification, confirmation,
and examination.

In alignment with our strategic direction, we reviewed the results of the previous year’s
materiality assessment to ensure they remain consistent with the Group’s current
development status and strategic goals, while conducting peer benchmarking.
Simultaneously, we added and integrated material issues for the current year based on the
Review past results latest authoritative sustainability standards, such as the ESG Reporting Code and the Global
Reporting Initiative standards.

In this year’s materiality assessment, the Group identified and determined 23 material
issues, comprising 4 environmental issues, 16 social issues, 3 governance issues.

The Group invited various key stakeholders and representatives from the Group’s
management to participate in online surveys. Through a scoring system, we collected their
Identify ESG topics perspectives on potential material issues and determined the significance of the screened
material issues. These issues are categorized into three levels: highly important issues,
moderately important issues, and generally important issues.

We constructed a materiality matrix based on two dimensions: “Importance to Zhihu” and

Confirm the
“Importance to Stakeholders.” Highly material issues were prioritized based on the scores to
importance level
confirm the significance of each ESG issue.

Verify assessment The ESG Working Group reviewed the results of the materiality assessment, which were
results subsequently submitted to the Board for approval.

Zhihu Materiality Assessment Results

Highly Important 20
12
13
Moderately Important 18
11 14
23
5 15
19
Importance to Stakeholders

21
6
7 22
17
8
Environmental
16
Social

9 Governance
10
2

1
4

Generally Important

Importance to Zhihu
10 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Highly Important Moderately Important Generally Important

Information Security and Privacy Anti-Corruption and Business

20 21 16 Responsible Supply Chain
Protection Ethics
12 Creator Incentives 17 Responsible Marketing 9 Engagement in Social Welfare
13 Building High-Quality Community 5 Employee Health and Safety 10 Rural Revitalization
14 Product and Technology Innovation 7 Employee Diversity and Equality 2 Energy and Resource Management
11 Intellectual Property Protection 6 Employee Rights and Benefits 3 Waste Management
Employee Training and
15 AI Ethics 8 1 Addressing climate change
Development
18 User Experience and Services 4 Greenhouse gas emissions
19 Digital Inclusion
22 ESG Governance
23 Compliance and Risk Management

ESG Strategic Objectives

Among the list of material issues identified through our assessment, “Information Security and Privacy Protection,” “Creator
Incentives,” and “ Building High-Quality Community” emerged as the top three core material topics. To effectively manage
these key areas, the Group has established corresponding management objectives and risk prevention and control
mechanisms designed to respond proactively to stakeholder concerns. By strengthening the oversight of significant risks, we
are committed to fostering a more robust operating environment and ensuring the long-term sustainable operation of our
business.

Information Security and Privacy Protection

As a leading interactive media enterprise, information security and privacy protection serve as the cornerstone of Zhihu’s
steady development. We are dedicated to comprehensively strengthening data security management by continuously
refining our management mechanisms and upgrading technical safeguards, creating a safe and reliable platform
environment for our users. The Group is acutely aware that leakage risks arising from security vulnerabilities or lagging
system technologies can directly lead to user attrition and damage to brand reputation. Consequently, we have established
a rigorous risk control system, set the following security and privacy management targets, and implemented dynamic
monitoring to ensure all risks remain within controllable limits, thereby fortifying our corporate compliance defense.

2026 Targets:

• Achieve 100% coverage of information security and privacy protection policies across all products
and business lines.

• Maintain a 100% pass rate for information security and privacy-related examinations among new
employees.
 Environmental, Social and Governance Report 2025 11

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Annual Achievements:

• Successfully obtained the Level 3 Multi-Level Protection Scheme (MLPS) certification for network
security and the ISO/IEC 27001:2022 Information Security Management System certification.

• Organized 3 information security and privacy training sessions for new employees this year,
achieving a 100% examination pass rate.

• Conducted 4 cybersecurity awareness campaigns.

Creator Incentives
As a high-quality Q&A community and original content platform, exceptional creators are the core drivers of Zhihu’s
intellectual vitality. We are committed to optimizing the creator experience and assisting them in reaching their goals at
various growth stages to continuously enhance community engagement. The Group recognizes that without effective
official incentives or commercial revenue-sharing models, creators may migrate to competing platforms, resulting in the loss
of core assets. Furthermore, a decline in the motivation for deep original content would undermine the “high-quality Q&A”
brand identity, leading to a drop in user activity and retention. To this end, we have set clear creator incentive targets and
implemented close monitoring to ensure the continued growth of our ecosystem’s prosperity and brand value:

2026 Targets:

• Ensure the stability of top-tier and mid-tier creators and maintain their sense of belonging to the
platform.

• Regularly monitor the Creator Net Promoter Score (NPS) to conduct in-depth evaluations of the
user experience.

• Ensure the stability of the creator compensation system and structure.

Annual Achievements:

• The revenue penetration rate among active high-tier creators has stabilized at a high level of over
70%.

• The overall community Creator NPS increased by more than 20% compared to the same period
last year.

• Optimized the creator revenue structure this year while actively expanding diversified
monetization channels for creators.
12 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Building High-Quality Community

Content ecosystem governance is directly linked to user experience and platform reputation. The Group is committed to
ensuring the safety and health of community content through technological innovation and rigorous management, aiming
to mitigate operational risks and reduce regulatory penalties. We are fully aware that if harmful information–such as
cyberbullying, rumors, or pornographic fraud–is not effectively contained, it will not only cause significant negative social
impact but also lead to user loss and severe regulatory sanctions, undermining the platform’s foundation. Accordingly, we
have set clear governance targets and implemented dynamic monitoring to fortify our high-quality community defenses and
ensure the long-term healthy development of our ecosystem.

2026 Targets:

• Ensure the seamless execution of the “AI Identification + Manual Review” mechanism.

• Regularly monitor and update anti-fraud risk control models.

• Ensure comprehensive account detection capabilities.

Annual Achievements:

• Effectively identified “human-powered crowdsourcing” (click-farming) violations through the “AI

Identification + Manual Review” mechanism, achieving a 90% identification coverage rate this
year.

• Independently developed 5 anti-fraud risk control models, successfully identifying and intercepting
30% of fraudulent activities automatically.

• Disposed of a total of 387,000 non-compliant and cheating accounts throughout the year.
 Environmental, Social and Governance Report 2025 13

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

01 CREATING COMMUNITY VALUE

As a leading online content community, Zhihu fosters a vibrant content ecosystem and an inclusive community atmosphere
through the collaboration of users and the platform. We continuously upgrade our governance mechanisms to create a
friendly and healthy community environment; establish a rigorous advertising review system to build a trustworthy
community; and support high-quality creators and protect intellectual property rights to build an innovative and dynamic
community. Simultaneously, we continuously enhance our R&D capabilities, empowering the construction of intelligent
communities based on improved AI ethical standards, and comprehensively ensuring the prosperity and security of the
community.

Aligning with the United Nations Sustainable Development Goals:

1.1 Co-building a Robust Content Governance Ecosystem and

Fostering an Amicable Community
Zhihu regards compliant operations as the cornerstone of its development. We strictly abide by and implement laws,
regulations, and administrative provisions, including the Cybersecurity Law of the People’s Republic of China , the
Civil Code of the People’s Republic of China , the Administrative Measures on Internet Information Services , the
Measures for the Labeling of AI-Generated Synthetic Content , the Provisions on the Governance of the Network
Information Content Ecosystem , the Administrative Provisions on the Account Information of Internet Users , the
Administrative Provisions on the Information Services of Internet Users’ Public Accounts , and the Administrative
Provisions on Network Audio-Video Information Services . On this basis, we have established internal normative
documents such as the Community Announcement on Governing Non-compliant Content Creation via Misuse of
AIGC and the Zhihu Guide to Preventing Cyberbullying . These ensure that our business operations fully align with
national regulatory standards, effectively mitigate legal and compliance risks, and build a standardized, professional
content review and management system.

Furthermore, we have implemented community policies such as the Zhihu Agreement and Zhihu Community
Guidelines to protect the legitimate rights and interests of users and ensure a high-quality interactive experience. By
fostering a premium atmosphere for community discussion, we not only consolidate brand credibility and user
stickiness but also lay a solid foundation for the platform’s long-term sustainable development.

Content Governance Process

Zhihu maintains a zero-tolerance policy toward any violations or behaviors that disrupt community harmony. To this
end, we have assembled a professional community management team and established a dual mechanism of “AI
Identification + Manual Review.” By utilizing multi-dimensional detection technologies for images, text, and video–
alongside continuously optimized identification models and manual inspections–we ensure comprehensive
governance coverage. Our review process spans the entire lifecycle, from account registration and content
publishing to feedback and reporting. Through the iterative upgrading of platform governance products and
functions, we continuously optimize our review mechanisms to ensure the precise interception of various risks. We
are committed to safeguarding the safety and health of community content through technological innovation and
rigorous management, creating an amicable online environment.
14 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Optimizing Account Detection Capabilities

This year, Zhihu focused on enhancing its account detection capabilities. We established a
professional account security team to conduct comprehensive monitoring of the
registration process. Through rigorous scanning of device resources, the system effectively
identifies and intercepts “automated bot” accounts. Simultaneously, we continuously
track abnormal behaviors during registration, login, modification of binding information,
and daily activity to flag potential risks. For extremely high-risk accounts, we implement
direct banning measures to block the intrusion of “black-market industries” at the source.
Account
Registration
Governance of Non-compliant Accounts
We utilize intelligent identification and manual review mechanisms to effectively identify
violations, particularly “human-powered crowdsourcing” (click-farming) activities that
possess high levels of concealment; our identification coverage rate has now reached
90%. For key and serious violators suspected of fraud, we use big data to analyze
interaction patterns. Once extreme anomalies in interaction volume are detected, we
immediately execute handling measures against the account to crack down on malicious
fraudulent activities within the platform.

Pre-screening Mechanism
Before content is officially published, we implement a strict pre-screening mechanism. If
content is detected as harmful or non-compliant, the system intercepts and deletes it
directly. We employ a dual “AI Identification + Manual Review” mechanism to ensure all
content first passes through machine screening. AI utilizes Natural Language Processing
(NLP) and image recognition technologies to conduct real-time screening for non-
compliant expressions such as sensitive words, pornography, violence, or politically
sensitive expressions within the text.

Pre-publishing For content flagged by AI as high-risk, we initiate a manual re-examination process.

Dedicated reviewers perform in-depth judgments based on contextual settings to
effectively reduce the machine’s false-positive rate. We set strict Key Performance
Indicator (KPIs) for manual review, covering the two dimensions of “work output” and
“work quality,” ensuring judgmental accuracy without compromising the user’s posting
experience.

For behaviors and content confirmed to be in violation, we apply the highest level of
penalties to eliminate potential subsequent harm at the source and fully safeguard
platform content security.
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Audit and Inspection Team

Zhihu maintains a professional inspection team to conduct regular audits. Using AI
technology, we periodically scan the full volume of production data within the site and
categorize it by content status. This allows us to precisely detect any existing illegal or
non-compliant content and strictly handle in accordance with relevant regulations. To
Post-publishing continuously improve identification efficiency, we perform regular manual calibrations and
update our violation database to optimize the accuracy of the intelligent system.

Additionally, the team conducts specialized manual inspections targeting complex and
subtle violations. This dual-track model effectively combats various “variant” violations,
ensuring the platform environment remains healthy and safe amidst dynamic changes.

Transparent and Diversified Feedback Mechanisms

We have established transparent and diversified feedback mechanisms, including “Zhihu
Assistant,” online customer service, hotlines, and specialized reporting areas, allowing
users to supervise community content through multiple channels. We continuously
optimize the reporting experience by providing quick-access entries, diversified guidance,
and transparent displays of review progress. By expanding the list of reporting reasons, we
ensure users can provide precise feedback and track progress in real-time. Furthermore,
we have refined the processing mechanism for reporting harmful information,
implementing a communication closed-loop of “online acceptance, manual classification
and handling, and timely response” to ensure every request is properly handled and
addressed.

Internal Mechanism Optimization

Upon receiving a report and confirming its authenticity, we initiate a self-inspection
User Feedback
procedure. By conducting in-depth analyses of violation cases, we continuously iterate and
and Reporting
upgrade audit principles and review models, with targeted optimization of submission
review rules. This rolling correction process based on user feedback ensures the platform
can respond rapidly to emerging violation trends and improve the precision of content
filtering.

Community Co-governance
Zhihu has established a “Community Co-construction” zone, allowing users to proactively
initiate and participate in dispute review procedures. We have also implemented a “Public
Arbitrator” (Crowdsourced Moderator) system, inviting users to participate in platform
governance. For controversial comments or answers, Public Arbitrators independently read
the content and, considering the context and community rules, cast votes for “Violation,”
“No Violation,” or “Abstain.” Final decisions on content removal or penalties are based
on the majority opinion. Through this mechanism, we achieve user-led co-governance and
jointly maintain a harmonious community environment.
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Optimization of Audit and Governance Functions

To strengthen positive guidance for controversial content within the platform, we developed and launched several
product features during the year to continuously optimize our content review mechanisms. These initiatives aim to
further enhance audit efficiency, accuracy, and user experience. During the Reporting Period, community governance
focused on the governance of misinformation, combating cyberbullying, managing Internet trolls and anti-cheating,
preventing illegal and non-compliant content, AIGC (AI-Generated Content) governance, and anti-fraud measures.
Through technological upgrades and strategic iterations, we achieved significant results across various specialized
fields, building a comprehensive defense line for community safety.

Governance
Governance Mechanisms & Functional Optimizations Governance Results
Area

 Utilized AI technology for preliminary screening and  Average daily alerts for false
established specialized databases for easily identifiable information: 60
false information to achieve proactive identification
and suppression;  1,236 articles debunking
 Regularly invited professionals from relevant fields to rumors published, with a total
calibrate AI-identified content, reducing potential of approximately 120,000
“hallucinations” in the AI identification process and views.
ensuring technical precision;
Prevention of  Commissioned professionals to conduct in-depth
Misinformation manual reviews for complex, ambiguous, or
controversial misinformation;
 Launched “Content Source” and “Creation
Declaration” features to help users judge the
authenticity and timeliness of content;
 Established a “Fact-Checking Zone” and “Today’s
Fact-Check” column to strictly govern misinformation
through official accounts, rumor databases, and
regular public disclosures.

 Used AI to identify content likely to trigger extreme  Daily average users activating
polarization and strengthened audits of keywords One-Click Protection: 227
prone to causing confrontation. Prevented the
escalation of disputes through moderate traffic control  Daily average comment
and “unfriendly comment” pop-up reminders, blocking reminders: 2,444
reducing the risk of cyberbullying at the source;
 Daily average handling of
Combating  The system automatically identifies accounts with a
unfriendly information: 494
Cyberbullying history of extreme comments or malicious tendencies,
placing them on a key monitoring list. Severe penalties  Daily average account
are executed for persistent violations; penalties: 21
 Developed a “One-Click Protection” feature, allowing
users to activate a proactive defense mode;
 Conducted regu l a r sp e c i a l i z e d g o v e r n a n c e a n d
advocacy campaigns against cyberbullying.
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Governance
Governance Mechanisms & Functional Optimizations Governance Results
Area

 If “like-farming” by internet trolls is detected, the  Annual fraudulent

system restricts recommendation rights and trending interactions cleared: 3.053
status while revoking all fraudulent data. For million
“follower-farming,” fraudulent follower counts are
deducted directly to ensure data integrity;  Annual non-compliant
 Utilized AI for real-time monitoring of high-risk recruitment content for
accounts with mechanical characteristics. For abnormal internet trolls handled:
Internet Trolls behaviors like mass private messaging, the system 22,000
and Anti- flags the account first, followed by decisive actions of
 Annual internet trolls
Cheating banning or freezing if violations continue;
 Proactively conducted penetration and server testing accounts penalized:
with “internet trolls” providers, optimizing 52,000
identification algorithms through reverse engineering  Annual cheating/fraudulent
to enhance coverage and combat capabilities against
accounts penalized:
illicit industries.
387,000

 Implemented a “Front-loaded Defense” strategy by  Annual spam registration

establishing detection mechanisms at the front-end of accounts identified:
content publishing to intercept risks and control traffic 662,000
before they spread, blocking the spread of non-
compliant content at the source;  Daily average malicious login
Illegal & Non-  On a technical level, implemented encrypted signatures attempts blocked: 1,400
compliant and system hardening to prevent illicit actors from
Content  Annual illegal/non-compliant
bypassing front-end interfaces to call APIs directly for
Governance malicious operations;
content disposed: 2.657
million
 Strictly limited the volume of content production per
account (e.g., lowering the post limit for registered  Annual non-compliant
accounts from 50 to 20) to curb large-scale accounts penalized:
“spamming” by automated scripts. 141,000

 As a high-quality Q&A community, Zhihu encourages  Daily average non-compliant

users to share personal perspectives. We position AI as AI content blocked:
a tool to assist creation rather than a source to replace 16,000
thinking, and we strive to limit low-quality AIGC to
ensure the depth and value of platform information;  Daily average non-compliant
 Provided a “Content Labeling” feature, requiring users users penalized: 300
AIGC
to tag any content utilizing AIGC;
Governance
 The system continuously tracks user posting and
commenting records to precisely identify “Low-quality
AI-generated content” If an account is detected as
overly reliant on generative tools for low-quality
output, the platform issues warnings and takes
appropriate action.
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Governance
Governance Mechanisms & Functional Optimizations Governance Results
Area

 Established professional anti-fraud risk models to  5 Self-developed anti-fraud

identify keywords used by fraud syndicates, combined risk models
with user profiling for deep risk analysis. High-risk
content triggers automatic interception and safety  Automatic identification and
“bubble” reminders in private messages; interception rate of fraud:
 Included vulnerable groups, such as those with a 30%
history of being defrauded or the elderly, in a
 Daily average proactive reach
“Vulnerable User List” for prioritized protection;
to potential victims: 2,500
 Executed direct control and enforcement measures
Anti-Fraud against accounts engaged in long-term high-risk  Fraud message interception
Governance activities; rate in private message
 Strictly limited strangers to sending only one private scenarios: 100%
message to effectively block large-scale phishing at
the source;  Estimated blocked fraud
 Maintained close coordination with the National Anti- amount: approx. 18 million
Fraud Center, reporting de-identified potential victim RMB
information for official early warnings;
 Conducted regular anti-fraud advocacy through open-
screen ads, educational videos, and specialized articles
to enhance user vigilance.

Case: Anti-Doxing Technical Working Group

In August 2025, Zhihu, in collaboration with several

internet enterprises, law firms, and media outlets,
established the Anti-Doxing Technical Working Group
under the CCIA Data Security Working Committee. The
working group aims to establish an industry self-
regulation and collaboration mechanism, pooling
resources to crack down on illegal activities such as
“doxing” (unauthorized disclosure of personal
information). The group will advance governance by
formulating technical standards, building linked
disposal mechanisms, publishing typical case studies,
and other initiatives. We emphasize the deep synergy
between technical means, corporate responsibility, and
media supervision to systematically address
cyberbullying and privacy infringement, striving to build
a safe and clean internet ecosystem.
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ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

1.2 Building a Healthy Advertising Ecosystem and Establishing a

Community of Integrity
To deepen the development of a community of integrity, Zhihu continuously promotes a healthy and orderly
commercial ecosystem. We strictly comply with the Advertisement Law of the People’s Republic of China, the
Administrative Measures for Internet Advertising, the Law of the People’s Republic of China Against Unfair
Competition, and other relevant laws and regulations. By establishing rigorous advertising review mechanisms and a
comprehensive compliance management system, we strictly verify the authenticity and accuracy of advertising
information, effectively safeguarding the legitimate rights and interests of our users and partners.

Process Control
Zhihu implements a “Triple Audit” mechanism, establishing a comprehensive management system covering the pre-
launch, mid-launch, and post-launch stages of advertising. We perform reviews rigorously in accordance with
institutional requirements, aiming to strengthen risk prevention and control throughout the entire process and
ensure a high level of compliance for all advertising content.

AI Inspection System Detection Accuracy: Combined Manual Review and Rule-based Filtering Accuracy:
Approx. 88 % Approx. 90 %
Advertising Violation Penalty Mechanism
Zhihu has established a robust advertising safety evaluation and graded disposal mechanism. For non-compliant
materials reported by users, we implement graded governance based on risk levels and categories to ensure the
stable operation of our advertising business. Furthermore, our community management team collaboratively handles
complaints regarding improper or illegal mobile advertisements. Through a comprehensive monitoring and
disciplinary system, we effectively maintain the health of the platform ecosystem.

Violation level Violation Category Disciplinary Actions

Level 1 Violation The promotional materials contain content Warning: Issue an electronic written warning
that does not match the reported content notice and require rectification within a
and are suspected of infringement or specified timeframe.
plagiarism.
Suspension of New Ad Review: The review
of new ad creatives from violating advertisers
will be suspended until they comply with
regulations.

Level 2 Violation Maliciously altering landing page content Ad Takedown: Remove the advertiser’s
that violates Zhihu’s advertising guidelines noncompliant advertisements. Advertisers will
and industry regulations after approval, and be penalized based on the severity and
repeatedly violating Zhihu’s review rules, frequency of the violations.
etc.

Level 3 Violation Landing page content suspected of serious Account Suspension: After an advertiser’s
illegality, promotional pages or Apps account is suspended, they will be blacklisted,
containing Trojan viruses, etc. restricting future account registration and
opening, and legal action will be taken.
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1.3 Incentivizing Creation and Building a Vibrant Community

Zhihu consistently adheres to a “Creator-First” core strategy, continuously optimizing the community ecosystem by
deepening professional discussions and supporting high-quality native creators. We have successfully constructed a
“Creator-Content-User” positive feedback flywheel, which stimulates creative potential while driving the continuous
emergence of premium content. This has not only significantly enhanced creator activity but also further
strengthened users’ sense of identity and belonging within the community.

Creator Platform Operational Support System

We have built a comprehensive content operations support system to provide creators with tailored, personalized
growth paths. Leveraging the deep and extensive functions of our creation platform, we ensure a superior creator
experience. Meanwhile, by drawing on Zhihu’s robust brand influence, we assist creators in achieving their goals at
different growth stages, continuously boosting the overall vitality of the community.

Creative Training System: We are committed to building a professional learning and growth platform for creators.
The “Creator Academy” utilizes text and video courses to help creators establish a fundamental understanding of
the platform ecosystem and general creative knowledge. The “Creative Training Camp” implements granular training
strategies based on creator segmentation, offering stronger domain specificity and skill focus. The training camp
covers basic entry, advanced training, and graduation-level integration, providing differentiated courses across more
than ten vertical fields. Through instruction, traffic support, and community guidance, we help creators master
content creation, account operations, and commercial monetization techniques, guiding them toward suitable
vertical fields to comprehensively enhance content quality.

Zhihu Creation Center: The platform has established the “Zhihu Creation Center” to provide creators with all-
around content management tools, including in-depth data analysis functions such as content analytics and follower
profiling. To stimulate creative motivation, the center features daily tasks like the “Ring Challenge,” encouraging
creators to post answers or idea-based contributions daily. Additionally, we periodically launch various topical
creation invitations, such as the “Creation Check-in Challenge.” Through clear objectives and attractive incentive
mechanisms, we guide users toward deep engagement and the habit of continuous creation, ensuring a steady
stream of high-quality content.

Content Distribution Mechanism: By increasing the weight of positive engagement behaviors–such as following,
sharing, and collecting–we have effectively enhanced user expectations for quality content and increased interaction
with professional creators. To this end, we continued the “Haiyan Plan 6.0” this year, inviting professional and
active users from various fields to serve as “Navigators.” This mechanism prioritizes the identification of high-quality
content and accurately matches it with interested users, helping quality content break through “information
cocoons.” Combining manual review with algorithmic verification, we dynamically adjust the scope of content
distribution and continuously calibrate algorithmic models based on Navigator feedback. The plan also utilizes a
robust honors system to incentivize creators to maintain professional contributions, building a virtuous cycle for the
content ecosystem.
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Comprehensive Empowerment of Creators

Zhihu’s content creators are the wellspring of the community’s high-quality content. We continuously optimize
creator service measures to empower creation from all angles, helping creators transform ideas into high-quality
content and co-build a healthy ecosystem. We empower creators and stimulate their inspiration across four
dimensions: economic incentives, enhancing honor and identity, strengthening creator exchange, and empowering
creative inspiration.

Empowering Creative Inspiration: We are dedicated to deepening content development in vertical domain,
meticulously crafting diverse activity scenarios such as “Personal Answer,” “Zhihu Roundtable,” and “Internet
Disruptors.” By partnering with top contributors, industry experts, and celebrities, we facilitate in-depth dialogues
and insight sharing within professional domains. We encourage professional users to leverage their deep knowledge
reserves and practical experience to output professional insights through the collision of ideas. This deep interaction
not only contributes high-quality content to the community but also sparks new inspiration for creators, achieving a
virtuous cycle of content production.

Creator Economic Incentives: Zhihu is committed to deepening the “Creator-First” philosophy. By establishing a
comprehensive revenue system, we have opened multi-dimensional monetization paths for content creators. This
year, we further optimized the creator revenue structure, maintaining platform support while actively expanding
diversified monetization channels for creators.

Deepening Inclusive Mechanisms and Expanding Beneficiaries: In 2025, the platform continued to increase
support for high-quality content. Total revenue from core subsidy projects achieved a significant year-on-year (YoY)
increase of nearly 70%. Thanks to the extension of subsidies to multiple formats such as images, text, and idea-
based contributions, the number of creators receiving these subsidies saw double-digit growth, and the average
subsidy per creator increased by over 40% YoY. This fully reflects the platform’s firm commitment to feeding back
into the content ecosystem and sharing benefits with creators.

Broadening Diversified Income Channels and Flourishing the Creator Economy: We actively explore customer-
to-customer business models to reduce creator reliance on single-platform subsidies. In 2025, revenue generated by
creators through user appreciation mechanism showed exponential growth, with total earnings surging over 200%
YoY. Furthermore, since the launch of “Paid Columns” at the end of 2024, we have successfully helped hundreds of
elite creators monetize their content, further broadening independent income generation paths.

Balancing Core Empowerment with Ecosystem Equity: Zhihu attaches great importance to the retention and
development of backbone creators. In 2025, commercial empowerment for core creators yielded significant results,
with the revenue penetration rate among active creators stabilizing at a high level of over 70%. Simultaneously, the
platform’s revenue mechanism effectively benefited the broader “mid-tier” creator groups, ensuring the breadth and
fairness of revenue distribution across different tiers.

Strengthening Creator Exchange: We have established an honors system consisting of “New Knowledge
Contributors,” “Excellent Contributors,” and the “Zhi-Power List,” selecting top-tier, high-quality, and high-potential
creators across various fields on an annual, quarterly, and monthly basis. This helps them improve interaction metrics
and stimulates creative motivation. Additionally, the platform established the “Creator Salon,” an offline platform
for deep exchange. Through a “Keynote Sharing + Roundtable Discussion + Cross-domain Interaction” model, it
builds a bridge for knowledge collision and social connection between creators and users. By gathering high-quality
creators from various fields, we have not only increased their creative activity and influence but also significantly
enhanced their sense of community belonging.
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Case: “Developers’ Recharge Night” Offline Exchange Event

In July 2025, Zhihu held the “Developers’ Recharge

Night” Salon, gathering dozens of AI developers. Using
an “Open Mic” format, they transformed cutting-edge
thinking into vivid sharing, presenting a brilliant
interaction where “technology meets humanity.” The
relaxed atmosphere broke the rigid format of
traditional forums. Experts from vertical fields such as
robotics, software development, and healthcare shared
practical AI applications and forward-looking insights.
This cross-industry collision of perspectives made
“Recharge Night” not just a place for technical
exchange, but a space for developers to draw creative
inspiration and mental energy, effectively promoting
deep connections among professional creators.

Enhancing Honor and Identity: This year, we implemented the “Navigator Program” as a core module of “ Haiyan
Plan 6.0,” selecting high-quality users through an invitation-only system to become “Navigators” and granting them
various priority benefits. In addition to content recommendation weighting, Navigators enjoy beta-testing privileges
for new features, priority participation in exclusive events like the “Navigator Year-end Gathering,” and exclusive
badges on their profile pages. This not only enhances the Navigators’ sense of honor and community identity but
also allows other creators to intuitively perceive the benefits of becoming a Navigator, thereby incentivizing more
users to invest in creation and strive for this status.

Case: Navigator Year-end Gathering

Initiated by the “Navigator Office,” we invited over 50

Zhihu Navigators to Beijing this year for an exclusive
year-end gathering. During the event, eight Navigators
presented their “2025 Interest Slices,” covering cultural
insights, AI trends, and personal growth. Each share
condensed deep inquiry and sincerity. In the “Energy
Drift Gift” exchange session, Navigators connected
through random gift-giving, creating many lasting
memories. Such activities not only significantly enhance
high-quality users’ community identity but also allow
creators to inspire one another, learning from each
other’s styles and methods to further unlock creative
potential.
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1.4 Technological Innovation for a Smart Community

With the rapid rise of Large Language Models (LLMs), industries and society are facing unprecedented opportunities.
We actively embrace change, launching the AI search product “Zhihu Zhida” and the “Zhihaitu AI” large model to
provide users and creators with brand-new productivity tools. By continuously strengthening our R&D capabilities,
we empower community products and services while committing to the refinement of AI ethical standards to build a
safe and efficient smart community.

Zhihu Zhida: Technology-Driven and User Experience Upgrades

“Zhihu Zhida” is an innovative product combining LLM technology with high-quality community content. Centered
around 80.3 million experts and creators across various fields and supported by a knowledge base of over 50 million
professional documents, it provides users with reliable information. The model integrates the “Full-capacity” version
of DeepSeek, significantly enhancing logical reasoning capabilities and adding depth to the processing of complex
questions.

To meet diverse usage needs, the product added “Smart Thinking” and “Deep Thinking” modes this year to
complement the original “Quick Answer” mode. “Smart Thinking” accurately parses user intent to understand the
core of a question before answering; “Deep Thinking” integrates the DeepSeek R1 model, ensuring more accurate
and high-quality search and generation of results through enhanced reasoning, allowing users to switch flexibly
based on task complexity.

We are also committed to optimizing user experience through continuous technical upgrades and review
mechanisms. The platform features a dedicated feedback window to collect and improve interface and functional
issues; for high-impact anomalies, a comprehensive intervention mechanism is in place. Negative user feedback is
incorporated into our case library as a core reference for subsequent model iterations, ensuring steady performance
improvements through a continuous optimization loop.

Improving Information Channels and Source Quality

“Zhihu Zhida” is dedicated to optimizing the dimensions of information acquisition, allowing users to precisely
specify diverse sources, including web-wide searches, local file uploads, Zhihu creator data citations, and personal
knowledge bases.

Web-wide Resource Retrieval: The system integrates Zhihu curated content, Chinese and English paper databases,
personal knowledge bases, and favorites to achieve deep aggregation of quality content. To ensure the authority of
information sources, we established an “Authority Assessment Mechanism” within the community, using a voting
mechanism to label content levels, prioritizing accurate and clear information while filtering out low-authority
misinformation.

Local File Upload: The system supports multiple formats including PDF, Markdown, and Txt. Users can quickly
extract key information through “Insight Discovery” or “Timeline” functions without manual typing.

Zhihu Creator Data Citation: Through the “@” symbol shortcut citation feature, users can easily call up the entire
body of work of a specific creator, significantly improving operational efficiency.
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Personal Knowledge Base: This year, we launched the Personal Knowledge Base and further strengthened
knowledge management capabilities. It supports diverse content formats, including web clipping, RSS subscriptions,
and Zhihu favorites. Users can preset common commands and focus on specific files for Q&A through citations and
“@” operations, minimizing AI hallucinations. When processing complex project data, Zhihu Zhida can first parse
user intent, read and filter valuable content fragments page by page, and then generate logically clear and detailed
professional creations. Coupled with the new “Quick Preview” function, the knowledge base optimizes the reading
experience and makes knowledge acquisition and content production more efficient.

Case: Zhihu Zhida”Brand Refresh” to Strengthen AI-Community Connection

This year, “Zhihu Zhida” underwent a major upgrade aimed at deeply linking AI algorithms with the community’s
“professional creators,” further strengthening Zhihu’s source advantage of “professional people creating
professional content.” This upgrade focused on three dimensions and updated six core functions, not only
optimizing user experience but also significantly reducing AI hallucinations and improving content professionalism
and credibility.

Strengthening Community Connection

Precise Traceability to Creators: Strengthens the link
between source cards and search results, prominently
displaying creators’ professional backgrounds. This provides
high-quality corpora for the LLM while simultaneously
boosting creator reputation and exposure.
Creator Knowledge Base & Collaboration: Treats each
contributor as an independent knowledge base, supporting
deep Q&A and analysis of specific creator content. Users can
Accurately tracing back to the creator
cite public creations, specify data sources, and share/
subscribe to personal knowledge bases.

Optimizing User Experience

Fusion of General & Professional Search: Integrates all
knowledge bases to support one-click professional answers.
This lowers the barrier to entry and features a modern visual
design with a concise interface.
Precise Questioning & Smart Source Selection: The
system defaults to the most suitable information source
while giving users high autonomy to focus on specific files,
references, or personal knowledge base content via
Precise Questioning and Intelligent
citations. Source Selection

Enhancing Professionalism
Flexible Combination of Information Sources: Users can
combine search scopes as needed, covering the entire web,
Zhihu community, academic papers, and personal
knowledge bases for comprehensive retrieval.
Personal Knowledge Base Expansion: Individual storage
capacity was upgraded from 1GB to 5GB to meet the needs
of users storing more professional literature and data.
Comprehensive information sources can be
freely combined
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AI Ethics
Zhihu recognizes that AI ethics is the cornerstone of building a future smart society. In our AI ethics governance
system, we focus on five key dimensions: Explainability, Fairness, Robustness, Transparency, and Privacy Protection.
We deeply integrate ethical norms into model training, product R&D, and application practices, striving to build a
safe, responsible, and ethically sound digital trust system.

• At the underlying model stage, we implement rigorous engineering measures during training, optimization,
and prediction to ensure model outputs are highly aligned with human values, preventing potential risks at
the source.

• At the product R&D stage, Zhihu has established a comprehensive AI product review system, covering
technological ethics reviews and legal compliance assessments. A dedicated team monitors the full lifecycle–
including R&D, testing and launch. Additionally, we introduced a “Risk User Layering” mechanism to strictly
guarantee the safety of generated content and strengthened ethical safeguards for new features, ensuring all
innovations operate within a risk-controlled framework, the review system is effectively implemented and
yields tangible results.

• At the product application stage, we have built a robust dynamic review mechanism to ensure the accuracy
and compliance of outputs. The R&D team periodically conducts retrospective evaluations of model
performance to identify and correct biases. Simultaneously, we have established an efficient user feedback
mechanism to ensure timely responses and handling of relevant issues, continuously optimizing the social
benefits and user experience of AI technology.

AI Privacy Protection
In scenarios such as Zhihu Zhida and Zhihaitu AI, Zhihu has established a rigorous user privacy protection system.
We utilize a dedicated Personal Identifiable Information (PII) identification module–using keywords and Named Entity
Recognition (NER) tools–to precisely filter personal information during model training and retrieval. User interaction
data is cached only in user-specific databases and is strictly prohibited from flowing into public resource pools,
ensuring no third party can access or retain raw data.

Furthermore, the platform grants users full data control, providing a robust data deletion mechanism that supports
the withdrawal of authorization and requests for data destruction, implementing the “Right to be Forgotten.” In
accordance with the Data Classification and Graded Protection Specifications , we ensure every piece of data has a
corresponding retention period; once expired, data partitions trigger automatic purging.

Regarding encryption and external collaboration, we employ strict transmission and storage encryption technologies.
All data interactions occur via high-strength protocols such as HTTPS and TLS 1.3, ensuring data is difficult to steal
or tamper with during both transit and rest. For collaborations with external LLM providers, we sign strict Non-
Disclosure Agreements (NDAs), building a comprehensive security defense for AI applications from both legal and
technical dimensions.
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1.5 Intellectual Property Rights Protection

Zhihu regards intellectual property (IP) as a strategic asset for driving innovation and maintaining core
competitiveness. We strictly comply with the Patent Law of the People’s Republic of China , the Trademark Law of
the People’s Republic of China , the Copyright Law of the People’s Republic of China , the Anti-Unfair Competition
Law of the People’s Republic of China , and the Trade Secret Protection Law of the People’s Republic of China ,
among other laws and regulations. To strengthen our management capabilities, the Group has formulated the
Instructions for Trademark Application and the Regulations on Intellectual Property Management , refining our asset
protection system at the institutional level. Regarding community governance, we clearly outline protection measures
and codes of conduct for users’ IP through the Zhihu Agreement and the Community Guidelines of Zhihu , striving to
build a community ecosystem that respects originality and maintains legal compliance.

Intellectual Property Protection Management

Zhihu upholds the core philosophy of “relying on the community, prioritizing prevention, governing at the source,
and multi-party collaboration.” We have constructed a piracy governance system led by copyright supervision,
characterized by multi-platform synergy and broad social participation. We have established rigorous management
processes from the business level to the Group level to ensure oversight at every stage. Simultaneously, a
professional anti-piracy team conducts regular monitoring and rights protection to solidify the foundation of IP
protection.

In terms of regulatory measures, we employ a “dual-track” approach of AI monitoring and manual review to achieve
real-time identification and removal of infringing content. The Group has deployed two core monitoring systems:

• Intelligent Risk Control System: Through iterative anti-crawler strategies and multi-dimensional analysis of
user behavior and API calls, the system accurately intercepts malicious data scraping.

• Web-wide Copyright Monitoring: Provides 24/7 all-weather scanning, automatically triggering complaint
procedures upon the discovery of infringement clues.

Furthermore, regarding off-platform content “transporting” (unauthorized re-posting), we commission agencies to

dynamically monitor copycat registrations and infringements, conducting comprehensive monthly evaluations and
centralized processing.

To co-build a healthy copyright ecosystem, we have established clue-sharing mechanisms with multiple platforms to
promote collaborative governance. For infringement complaints and commercial cooperation, we provide efficient
official channels such as the “Yan Selection Member Content Plagiarism Reporting Platform” and the “Yanzhen
Pavilion” copyright cooperation platform, comprehensively enhancing the efficiency of copyright protection and
value transformation.

Case: “Sentry 2025” Summer Special Action for Copyright Protection

With the rapid rise of medium-and-short stories and short dramas, “Zhihu Yan Yan Stories” became a primary
target for piracy. Consequently, we officially launched the “Sentry 2025” Summer Special Action in July 2025,
aiming to crack down on piracy and safeguard the original ecosystem through four core pillars:
• Technical Upgrades: Constructing a dynamic defense system to precisely block and locate the identities
of pirates.
• Litigation Accountability: Adopting a dual-track civil and criminal approach to pursue legal responsibility
and claim damages from piracy groups and individuals.
• Infringement Mining: Utilizing technology combined with community co-governance to leave piracy
resources with nowhere to hide.
• Long-term Deterrence: Promoting the normalization of judicial deterrence and periodically publishing
judgment cases to create a powerful warning effect.
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Intellectual Property Protection Advocacy

We continuously strengthen the IP protection awareness of our employees. Through diversified training programs,
we consistently enhance the IP literacy of all staff, making protection awareness a core component of daily
corporate operations. For the differentiated needs of various business units, we provide specialized training
resources to help departments efficiently fulfill their IP protection responsibilities, comprehensively improving the
Group’s governance efficacy in the IP field.

Employee Innovation Incentives

Zhihu has established a systematic incentive mechanism through the Zhihu Patent Reward System, granting special
awards for R&D achievements of exceptional value. This system deeply integrates economic incentives with legal
safeguards. While fully releasing the innovative potential of all employees, it clarifies the rights and responsibilities
between the enterprise and the inventors, providing a solid guarantee for the Group’s IP accumulation and
technological leadership.

Cumulative Intellectual Property Achievements in 2025

Patents Patent Applications: Cumulative Patents Granted:

133 94

Trademarks Trademark Applications: Cumulative Trademarks Granted:

1,742 1,323

Copyrights Cumulative Copyrights Obtained:

188
Creator Intellectual Property Protection Management
Except for specifically authorized works, the IP rights of community content generally belong to the creators
themselves. Although the ownership does not reside with the company, we remain committed to monitoring and
safeguarding creators’ rights to encourage the production of high-quality content. We utilize a “Litigation Clue
Database” and anti-piracy systems to accurately identify infringements across piracy communities, competing
products, and WeChat Mini-programs through manual mining, automated monitoring, and user collaboration.

In terms of user collaboration, we continue to refine the Yan Selection Member Content Plagiarism Reporting
Platform, expanding its coverage and standardizing processes to improve the accuracy and convenience of
complaints. Simultaneously, we launched activities such as “Truth Protector” to collect clues with users and jointly
maintain the health of the ecosystem.

If suspected infringement is discovered, creators can submit information via the reporting platform, and processing
progress is notified in real-time via platform messages. For off-platform infringement, we assist creators in
authorizing professional agencies to file complaints on their behalf, urging distribution platforms to remove the
content. For on-platform infringement, we use monitoring systems for detection; once confirmed, the content is
removed. In severe cases, we pursue legal litigation to resolutely combat infringement.
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02 I M P R O V E S E R V I C E Q U A L I T Y A N D C R E A T E
RESPONSIBLE PRODUCTS
Upholding community values, Zhihu actively listens to the voices of every user and is committed to creating a humanized
and warm interactive experience. While strengthening information security and user privacy protection, we always adhere
to the principles of product quality, equality, and security. Zhihu is not only a platform for knowledge exchange, but also a
warm harbor for every “Zhihu user,” allowing each user to gain value in a safe and inclusive environment.

Aligning with the United Nations Sustainable Development Goals:

2.1 Information Security and Privacy Protection

Zhihu prioritizes information security management and user privacy protection. By continuously refining
management mechanisms, enhancing technical defense capabilities, implementing internal and external audits, and
conducting regular security training, we comprehensively strengthen data and privacy protection, striving to build a
safe and reliable platform environment for our users.

2.1.1 Information Security Management

Zhihu attaches great importance to information security management and strictly complies with the
Cybersecurity Law of the People’s Republic of China , the Data Security Law of the People’s Republic of
China , the Personal Information Protection Law of the People’s Republic of China , and the Administrative
Measures for Internet Information Services , among other relevant laws and regulations. We have established
a comprehensive information security management system and formulated a series of internal policies,
including the Data Security Early Warning Management Standards , the Data Life Cycle Management
Standard , the Emergency Response Process for Data Security Incidents , the Data Access Approval Standards ,
and the Data Classification and Hierarchical Protection Standards . Additionally, we updated the Employee
Information Security Standards this year, focusing on strengthening office equipment security and data leak
prevention (DLP) functions to enhance overall defense capabilities.

During the Reporting Period, we obtained the Level 3 Certified Protection of Cybersecurity (MLPS 2.0), the
ISO/IEC 27701:2019 Privacy Information Management System certification, and the ISO/IEC 27001:2022
Information Security Management System certification, demonstrating our professional commitment and
systematic management strength in the field of information security.
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Information Security Management Structure

The Group has established a three-tier management architecture with the Cybersecurity and Data Security
Committee as the top-level decision-making body, aimed at comprehensively coordinating and implementing
various information security requirements. Through this structure, we continuously strengthen the
management of information security and privacy risks, ensuring that Zhihu’s security work is implemented
smoothly and providing a solid guarantee for user data security at both the institutional and execution levels.

Decision-making Level Network and Data Security Committee

• Responsible for developing the company’s medium– and long-term security strategic plan
• Reviewing data and compliance security risk assessments of key business systems

Management Level Information Security Department

• Responsible for managing and driving the deployment of security work.

• Promoting the introduction and implementation of more efficient security tools.

Executive level Heads of relevant departments

• Responsible for the specific implementation of network and information security.

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Comprehensive Management Measures

The Group has established a “Trinity” control mechanism centered on “Pre-incident Prevention (Monitoring
and Early Warning), Mid-incident Emergency Response, and Post-incident Punishment and Recovery.” By
establishing a full-process closed-loop management system, we are committed to ensuring information
security compliance, effectively improving security defense levels, and ensuring that business operations
continue in a stable and compliant environment.

Pre-incident Prevention

• We continuously strengthen the data preventive protection system through security review
projects such as login authentication mechanisms, permission authorization schemes, multi-factor
authentication (MFA), personal data collection scenarios, transmission and storage encryption,
data masking (de-sensitization), and watermark embedding.

• By implementing security testing before code construction, we shift the discovery of potential
security risks earlier in the lifecycle, effectively reducing the probability of security incidents and
implementing a “Shift Left Security” strategy. This year, we introduced AI technology to fully
empower our security detection capabilities, building an AI-driven security requirement review
and code security detection system.

We utilize a dual-layer detection architecture of “Self-trained BERT Model Pre-screening + Large

Language Model (LLM) Semantic Confirmation” to achieve efficient and precise identification of hard-
coded risks. Simultaneously, based on a technical solution of “Generative LLM + RAG (Retrieval-
Augmented Generation) Knowledge Base + Risk Scoring Decision,” we built an automated security
review capability. These cutting-edge technologies have not only improved risk identification accuracy
but also realized automated and intelligent security governance.

Key Achievements:

• Detection accuracy increased to 90%.

• Security review coverage increased to 95%.

This year, we developed a User and Entity Behavior Analytics (UEBA) system. By modeling and
dynamically evaluating user behavior, the system proactively identifies abnormal access, sudden
behavioral changes, and compliance risks, achieving a deep integration of intelligent early warning and
prevention. Currently, five risk scenarios have been successfully implemented, with a cumulative total of
258 risk accounts managed, significantly enhancing pre-incident prevention capabilities.

Main functions include:

o User and Entity Behavior Profiling: Constructs long-term behavior profiles to form a normal
behavior baseline, providing an accurate reference for identifying subsequent abnormal behavior.

o Abnormal and Risk Behavior Identification: The system performs real-time and periodic analysis of
user behavior, focusing on identifying risks such as abnormal access, behavioral mutations, and
policy violations. Multi-dimensional comprehensive analysis effectively reduces false positives and
improves the accuracy and timeliness of data security risk identification.
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Mid-incident Monitoring

• We have established a Security Operations Center (SOC) to respond to information security threat
intelligence. Strictly following the Emergency Response Process for Data Security Incidents, we
conduct real-time monitoring, analysis, and alerting of threats to ensure security risks are flagged
immediately.

• Referring to the Implementation Rules for Data Security Management in the Telecommunications
Field of the Beijing Area, we have specified incident classification, division of responsibilities, and
disposal processes. Data security incidents are divided into four levels, and targeted emergency
measures are taken based on the risk level to comprehensively enhance emergency response and
handling capabilities for data leakage risks.

Post-incident Response

• We have established Security Orchestration, Automation, and Response (SOAR) capabilities.

Combined with manual processing flows, the system performs automated or manual intervention
and review of identified risks, effectively reducing the probability of security incidents.

• The UEBA system supports in-depth investigation and traceability analysis of high-risk behaviors,
visually presenting the access and operation process before and after an incident. It automatically
associates relevant logs and evidence, assisting security personnel in quickly locating risk sources
and assessing the scope of impact, providing strong support for incident handling and forensic
auditing, and significantly improving the efficiency and accuracy of post-incident responses.
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Information Security Audit

The Group actively conducts internal and external security audits and continues to promote information
security certifications to strengthen data security defenses and strictly control data leaks.

In terms of internal auditing, the security department uses automated tools to monitor network anomalies
and risks in real-time. By introducing AI auditing tools, we apply artificial intelligence to compliance check
scenarios, performing automated correlation analysis of log data, access trajectories, and security incidents.
This improves audit coverage and response efficiency while reducing over-reliance on manual experience,
ensuring objectivity, consistency, and traceability, enabling immediate risk control.

In addition, we established a Security Incident Operations Center system to guarantee the authenticity,
integrity, and non-repudiation of audit logs, thereby satisfying compliance and internal control standards for
log reliability. Its core functions include:

• Unified Log Management: Centralized collection and management of operation logs from various
business systems, infrastructure, and security devices. Through unified log standards and storage
strategies, we ensure completeness and consistency of audit log sources, providing a reliable basis for
security audits.

• Standardization and Integrity: Collected logs are standardized across key fields, including (time,
user, object, action, and protected through integrity checks) and anti-tamper storage mechanisms to
ensure log authenticity and reliability.

• Operational Traceability: All records allow precise queries and tracing by user, system, or time, and
operation type, enabling accountability tracking and violation verification of non-compliant actions.

• Audit Query and Retrieval: The system enables flexible multi-criteria and time-range queries,
facilitating rapid identification of operational records, with support for exporting and retaining audit
evidence to satisfy internal audit, compliance, and external regulatory requirements.

In terms of external auditing, we periodically collaborate with third-party institutions to conduct data security
risk assessments in the telecommunications field, focusing on systematic verification of legally reported
personal information. This year’s assessment results were positive, and internal optimizations have been
completed for all identified items. Through coordinated internal and external audits, we have built a
comprehensive and intelligent security assurance framework.
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Security Testing
The Group ensures the robustness of business systems and data assets through various security tests,
including internal pre-launch testing, internal Red-Blue Teaming exercises, and crowdsourced testing, MLPS
penetration testing, and external Red-Blue drills. All security vulnerabilities discovered during these activities
have been remediated.

Case: Red-Blue Teaming Activities

Oriented toward combat-style offense and

defense, we actively conduct Red-Blue Teaming.
By simulating real attack paths, we
comprehensively test our existing defense
system. While identifying exposure risks, we
verify the effectiveness of our monitoring,
response, and defense measures, thereby
providing clear guidance for subsequent security
capability enhancements and system
optimization.

In 2025, we organized two Red-Blue exercises:

one by our internal security team and one by a
third-party attack team. Scenarios covered
internet boundaries, terminal security, intranet
lateral movement, identity authentication, and
server security, and other critical aspects.
Identified issues in terminal protection were
immediately incorporated into a closed-loop
management process. Currently, all identified
risks have been remediated, significantly
enhancing the Group’s overall security
resilience.
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Supply Chain Information Security Management

The Group has established a comprehensive supplier information security management system with closed-
loop management. Suppliers must sign a Non-Disclosure Agreement (NDA) and a Fair Trade Commitment ,
specifying mandatory security standards. In the tender stage, dedicated security technology scoring standards
for IT-related categories are applied, with professional evaluation conducted, specialized security technical
scoring standards are implemented by the information security compliance lead. All judges must complete a
Conflict of Interest Disclosure before evaluation, ensuring objectivity and fairness throughout the process. In
the performance phase, information security is included in supplier performance assessments, with regular
evaluations to ensure supply chain safety.

This year, we strengthened supply chain information security governance with targeted security testing for
upstream and downstream entities, including subsidiaries and externally sourced systems. The software
composition analysis (SCA) tools in the pipeline have been optimized, and a three-stage detection approach
(during development, during branch merging, and after merging) ensures a secure, closed-loop management
of code component, markedly improving software supply chain security.

2.1.2 User Privacy Protection

We respect users’ autonomy over their personal information. We have formulated policies such as the
Personal Information Protection Guidelines, User Agreement, Third-party Data Sharing Reporting Standards ,
and Sensitive Data Masking Technical Guidelines to refine privacy requirements throughout the data lifecycle
and improve transparency.

During the Reporting Period, Zhihu experienced no major data or user information leaks. Our ISO/IEC
27701:2019 Privacy Information Management System certification reflects our international professional
standards in privacy protection, and our firm commitment to ensuring user data security.

Privacy Information Collection

Before providing services, Zhihu requests authorization for information collection, ensuring users understand
the purpose, method, and scope of data collection, use, and sharing. At the technical protection level, we
introduced an API Sensitive Data Identification System to enable policy-based detection of sensitive data
transfers shift security detection forward by identifying transmission risks and unauthorized access risks,
thereby advancing security checks. Looking ahead, we plan to deploy AI-based automated risk auditing
auditing to improve coverage and accuracy of API data monitoring.

Regarding the use of Zhihu Zhida Large Language Model (LLM), we implement strict data isolation measures.
User-provided data is restricted to the current user’s state; personal private data will not be reflected or used
in other users’ responses or data sources. Furthermore, all user data has clear retention periods, after which
the system automatically executes destruction procedures, thereby ensuring that end-to-end measures are in
place to protect user privacy from data acquisition to disposal.
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Privacy Information Use

We strictly manage the personal information we collect from users, preventing any leakage, alteration,
misappropriation, damage, or illegal provision to partner vendors, fully protecting users’ control over their
personal information and their right to privacy.

To this end, the Group has established privacy data classification regulations, dividing data into three levels
and setting differentiated access permissions based on the level, covering dimensions such as application,
approval, and access time. For high-level privacy data, we have a “black box mechanism,” where all
operations are limited to this closed environment, and the data cannot be exported to the external
environment. During data use, the system only allows users to view small batches of data, strictly prohibiting
large-scale downloads or export. Simultaneously, we conduct rigorous security audits of employees who
handle data, fully recording all operations performed to ensure that every data processing activity is
traceable, compliant, and controlled.

2.1.3 Information Security and Privacy Training

The Group regularly conducts information security and privacy protection training to enhance employees’
privacy data management skills and security awareness. This year, we enhanced staff compliance knowledge
on cybersecurity and personal data protection through diverse training methods:

“Cybersecurity: Learning from Cases” Campaign: Four series of publicity activities were conducted for all
employees, using visual materials such as posters and typical internal/external security cases to strengthen
understanding of data security and privacy risks and improve day-to-day preventive awareness.

New Employee Cybersecurity and Privacy Protection Training: In the current year, three sessions were
organized covering cybersecurity trends, laws and regulations, code hosting security, Wi-Fi and email security,
account and password management, endpoint usage policies, data security requirements, violation penalty,
and other topics. Post-training examination had been conducted, achieving a pass rate of 100%, establishing
a “Security Red Line” awareness for new hires.

Cybersecurity and Data Security Awareness Examination: In the current year, all employees participated
in cybersecurity and data privacy training and assessment, with a 99.96% pass rate. The combined training
and evaluation initiative reinforced staff understanding and adherence to information security and privacy
protection requirements.
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2.2 Product Responsibility and Digital Inclusion

Zhihu is committed to promoting digital inclusion. By strengthening positive advocacy and protective measures, we
ensure the online safety of groups such as minors, the elderly, and people with disabilities, promoting equal and
accessible services. We also prioritize the mental health of our users, proactively providing care and assistance to
those facing emotional distress to foster a warm community environment.

Protection of Minors
Zhihu strictly adheres to the Law of the People’s Republic of China on the Protection of Minors , the Regulations on
the Protection of Minors in Cyberspace , and the Guidelines for the Construction of Minor Mode in Mobile Internet .
We have established a special task force for youth protection, adopting a strategy that combines both prevention
and intervention. We focus on content governance and the research and development of protective features, and
have clearly defined governance measures for content violations involving teenagers in the Zhihu Community
Guidelines .

The platform features a “Minor Mode” centered on the guardian’s account. Parents can enable this mode in the
settings to provide minors with an exclusive, clean, and beneficial content environment, aiming to safeguard security
while stimulating curiosity and the desire to explore.

In terms of positive guidance, we have implemented various measures to deliver educational and knowledge-based
content:

• Age-Appropriate Content Recommendation: Precise recommendations are made through algorithms

based on exclusive filtering rules and quality identification models. This year, we upgraded the content pool
rules to ensure content is healthy and engaging, achieving a domain identification accuracy rate of over
90%.

• Search Functionality: A new search function within Minor Mode supports retrieval from a designated safe
content pool, enhancing the user experience.

• Youth Content Advocacy: We regularly conduct special activities to popularize safety knowledge and
encourage teenagers to participate in topic discussions.

In terms of negative crackdowns and restrictions, we implement strict controls:

• Time and Functional Restrictions: Use of live streaming, tipping, and top-up functions is prohibited. Usage
is limited to 40 minutes per day and is unavailable between 10:00 PM and 6:00 AM the following day.

• Filtering of Harmful Information: We utilize “AI Semantic Understanding Models” combined with Large
Language Models (LLM) to deeply identify “obscure soft pornography” or “Sang culture” (defeatist culture),
strengthening the audit of the community ecosystem.

• Reporting Channels: We have established a dedicated “Minor-Related Reporting” section, as well as a

specialized email and hotline, with a professional team ensuring timely verification and handling.
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Care for the Elderly

To help the elderly group smoothly integrate into the digital age, we employ a multi-pronged approach involving
product design, technical innovation, and operational promotion to bridge the “digital divide.” Our web version
features an age-appropriate interface with functions such as enlarged fonts and text-to-speech support to improve
browsing convenience for the elderly. On the service side, we have established a dedicated service hotline for the
elderly that supports rapid access to human agents to accurately meet their needs. Regarding security, the platform
has opened a “Pension Fraud Reporting Section” to help prevent fraudulent activities and protect the legitimate
rights and interests of elderly users. Furthermore, we actively conduct advocacy activities to improve the knowledge
of the elderly regarding anti-fraud measures and electronic product applications, providing comprehensive support
and care for the elderly population.

Case: AI Skill Education for the Elderly

In an era where AI is reshaping lives, we are committed

to ensuring that the elderly enjoy equal opportunities
to utilize technology. In 2025, Zhihu collaborated with
the “Answerer Review Pane” to co-create the AI Primer
for Elders, directly addressing the pain points elderly
users face when using AI.

The manual covers basic AI concepts and skills and

provides systematic science popularization on
identifying AI fraud in high-risk areas such as health
and wellness, and financial management. Additionally,
the manual includes AI product purchasing guides and
exoskeleton robot reviews. Combined with community
discussions, it explores the proposition of age-
appropriate adaptation in the AI era from multiple
dimensions, helping the elderly cross the digital divide
and embrace the intelligent age.

Caring for Persons with Disabilities

Zhihu is committed to ‘Knowledge Without Barriers,’ focusing on the rights and inclusion of individuals with physical
and mental disabilities. Following domestic and international accessibility standards, we continually enhance
technology and allocate resources to improve community accessibility features, delivering a more user-friendly
experience. Zhihu also partners with accessibility experts and organizations to provide dedicated content, promoting
awareness and knowledge sharing. Through disability-related discussions, we facilitate public engagement and call
for society-wide attention and support for people with disabilities.
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Supporting Users’ Mental Health

Zhihu places great importance on users’ mental health, actively identifying and addressing their potential
psychological needs. We are committed to creating a platform that not only facilitates knowledge acquisition but
also provides personalized care and emotional support. A dedicated team is in place to implement and maintain
protective measures through technological and product innovations.

Additionally, we have established a comprehensive support process system covering detection, analysis, and tiered
intervention. The system proactively guides users away from specific negative search terms and provides access to
nationwide psychological crisis hotlines. “Zhihu Butler” also actively monitors content expressing
negative emotions and initiates care procedures. For minors, we have introduced certified high-quality mental health
content within their dedicated mode, ensuring that adolescents have access to accurate and healthy psychological
knowledge. Leveraging the advantages of community interaction, we regularly organize mental health discussions
and roundtable events, inviting psychiatrists, academics, and mental health professionals to participate. These
initiatives help users manage emotions and foster positive lifestyles and mindsets.

2.3 Listening to Users, Optimizing Services

Zhihu continues to practice a “standardized and heart-warming” service strategy, striving to improve user
satisfaction and experience. We take solving user needs as our foundation, valuing and responding to user opinions,
actively speaking on behalf of users, and constantly improving products and services to provide more valuable
experiences, increase user stickiness, and create a favorable external ecosystem.

During the Reporting Period, there were no products or services recalled for safety or health reasons.

Improving the Service System

Diversified Feedback Channels and Proactive Listening
We have built a comprehensive, multi-dimensional feedback system to ensure users can express their opinions
anytime, anywhere. In addition to basic passive channels such as online customer service, hotlines, and service
emails, we proactively capture users’ true feelings in different scenarios through in-depth focus group interviews and
periodic service follow-ups. We record and follow up on user issues in real-time and regularly assess service
satisfaction to provide a scientific basis for continuous improvement.

This year, we conducted multiple rounds of quantitative and qualitative research and interviews with the university
student group to explore their preferences from both consumption and creation perspectives. The insights not only
enhance understanding of the user group, but also serve as an important reference for product improvements and
operational strategy development.

Driving Deep Insights via Digital Analysis Systems

Zhihu has established a sophisticated digital feedback analysis system. By deeply integrating user feedback data, we
achieve precise alignment between business monitoring indicators and Net Promoter Score (NPS) results to evaluate
the user experience at a deep level. We regularly report fluctuations in experience indicators to relevant internal
business parties to resolve pain points at the source. Simultaneously, relying on visualized data dashboards, we can
intuitively present feedback trends, providing the business team with accurate early warnings and profound insights.
In addition, through reinforced feedback management and business review tracking, we have fully quantified our
workflows, effectively enhancing internal collaboration efficiency.
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Key Achievements:

• The overall community creator NPS increased by more than 20% year-on-year.

• The NPS for “Yanyan creators“ increased by 47% year-on-year.

Upgrading Intelligent Customer Service for 24/7 Efficient Response

Our intelligent customer service, “Zhihu Butler,” provides 24/7 all-weather self-service. We have integrated accurate
and consistent service information into the “Direct Answer” system, significantly improving the efficiency with which
users obtain answers. Currently, the Butler has built multiple response modes: in “Knowledge Base Retrieval Mode,”
users can instantly retrieve answers by standard entries via one click queries; in “Direct Answer Dialogue Mode,” the
system supports multi-round natural language dialogue, using AI to deeply understand user intent, integrate
information from the knowledge base, and generate personalized answers that make self-service interactions more
intelligent, user-friendly.

Enhancing Human Service Quality to Guarantee User Experience

We have built a comprehensive training system for human customer service team, strengthening the hierarchical
talent development through initiatives, such as “checkpoint” tasks and unlocking advanced skills, to improve the
team’s overall competence and capabilities.

• Setting Sail: Provides new employees with induction training on skills, service culture, team goals, and other
topics to facilitate rapid adaptation to Zhihu’s services practices.

• Smooth Sailing: Focuses on teamwork and cohesion, expanding skills and addressing weak points.

• Escort & Elevation: Focuses on the core talent reserve, aiming to improve service levels and communication
skills.

• Helmsman Cultivation: Focuses on cultivating business management talent to promote service quality and
efficiency.

We introduced the “AI Agent + Human” collaborative system, using AI assistants to analyze user demands and order
status in real-time, providing human agents with accurate scripts to achieve the goal of “initial diversion – reduced
intervention – rapid resolution.” For core creators, we launched a “Service Experience Guarantee Upgrade” project
this year, establishing a high-priority processing mechanism of “1-hour response, 2-hour solution, 24-hour closed-
loop, ensuring critical issues from core users are promptly resolved to mitigate experience-related risks.”
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Complaint Management System

We value every user complaint and listen to feedback through multiple communication channels, striving to provide
humanized and comprehensive responses and follow-ups. By optimizing the feedback handling loop, we support
decision-making by promptly understanding user needs, promoting improvements, and resolving user issues.

Reception Channels: Proactively receiving opinions through the diversified channels mentioned above, including
online customer service, customer hotlines, and designated customer service email, to ensure continuous and
convenient user engagement.

Complaint Response: We adhere to the principle of “Response within 20 minutes, reply within 24 hours,” and
implement a first-contact responsibility system. Through standard standardized procedures with tailored responses,
we provide an efficient and comfortable communication experience.

Follow-up Analysis: Using visualized data platforms for in-depth analysis and providing accurate feedback to
support timely follow-up and resolution, with regular monitoring to ensure effective implementation.

Continuous Optimization: In addition to handling complaints, we proactively initiate targeted special user research
to gather authentic feedback, using these insights to optimize products and services and implement dedicated
experience improvement initiatives to address user issues.

Case: Creator Experience Research

In 2025, we focused on the creator editor experience, executing multiple research projects using quantitative and
qualitative methods to explore usage status and functional expectations, and prioritize creators’ needs. This
research provided a clear insight into current creation pain points and habits, serving as a key reference for the
iteration of the editor and AI-assisted products.

Improving User Satisfaction

Through a robust service architecture, rapid complaint handling, and continuous optimization, we have successfully
driven up user satisfaction. This year, we again achieved key commitments such as a “100% online response rate”
and a “99% 24-hour problem resolution rate. Annual overall satisfaction also achieved the set targets, with a
notable increase in satisfaction among core creators.”

2025 User Satisfaction

Average Satisfaction of Core Users: Average Satisfaction of Business Users:

Over 97 % Over 91 %
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03 CREATING A HAPPY WORKPLACE

Zhihu places the “Talent-First” development philosophy at the core of its strategy. Upholding the principles of diverse and
equal employment, we are committed to creating an inclusive, safe, and heart-warming work environment. By providing
diverse career growth channels and continuous learning opportunities, we fully stimulate the potential and vitality of every
employee, continuously enhancing their sense of belonging and happiness to achieve the dual success of corporate progress
and individual value.

Aligning with the United Nations Sustainable Development Goals:

3.1 Protecting Employee Rights and Supporting Diversity and

Inclusion
Zhihu recognizes that employees are the fundamental cornerstone driving the innovation of our knowledge
platform. We strictly comply with domestic laws and regulations, including the Labor Law of the People’s Republic
of China , the Labor Contract Law of the People’s Republic of China , and the Provisions on the Prohibition of Using
Child Labor . Furthermore, we actively respond to the Universal Declaration of Human Rights , placing the respect for
human rights at the center of our corporate values. We continuously optimize internal policies such as the
Management Rules for the Use of Recruitment Channels , the Zhihu Background Investigation Policy and
Management System , the Employee Handbook , and the Re-employment System to regulate the management of
compensation and dismissal, recruitment and promotion, working hours, and benefits.

We maintain an absolute zero-tolerance policy toward human trafficking, forced labor, and child labor. We sign
labor contracts with employees in accordance with the law and implement strict audit mechanisms to prevent child
labor and forced labor, protecting the vital interests of our staff. If any such situations are identified, we will take
strict actions in accordance with relevant laws, regulations, and internal management systems. During the Reporting
Period, Zhihu did not engage in any child labor or forced labor practices.

Zhihu adheres to a fair and just employment philosophy, actively fostering a diverse, equal, and inclusive (DEI) work
atmosphere. We explicitly oppose all forms of employment discrimination. In recruitment and appointment, we
strictly use job competency as the core standard, ensuring no differential treatment based on gender, age, ethnicity,
region, religion, or physical condition (including disabilities). We respect and safeguard the statutory rights of all
employees, fully implementing the principles of gender equality and equal pay for equal work. We pay particular
attention to protecting the legitimate rights of female employees, striving to provide an environment that offers
equal opportunities and respects differences.

In the future, we will gradually strengthen the monitoring of gender pay equity and align with digital transformation
to ensure the objectivity and fairness of our recruitment processes. We plan to use technological empowerment and
special initiatives to encourage more female talent to enter technical R&D roles, continuously increasing the
proportion of women in key technical positions. As of the end of 2025, female employees accounted for 56.2% of
our workforce. Together with the representation of women in management roles, this reflects our continued
progress in fostering diverse leadership
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3.2 Strengthening Talent Development and Succession

Talent is the core driving force and source of value for Zhihu’s development. Upholding the “Talent-First”
philosophy, Zhihu is committed to building a diversified cultivation system and sustainable career paths. By
continuously innovating training models and optimizing development strategies, we fully stimulate employee
creativity and potential, supporting the mutual promotion of personal growth and professional development for
every member.

Talent Acquisition
We have deepened the implementation of our “High-Level + High-Potential” talent strategy, aiming to build a self-
driven echelon with strong development capabilities. Centered on Zhihu’s core values, we utilize human capital
analytics tools to precisely outline a five-dimensional “Talent Portrait”:

Core
Competencies
Quick to understand,
open-minded, and
always able to get
things done

Professional Organizational
output leadership
Possessing a sense of Possesses management
artistic merit skills

Zhihu Talent Portrait

We use this portrait as a benchmark for recruitment and development planning, combined with career drive analysis
to accurately identify and focus on cultivating high-potential talent. Through this strategic human resource layout,
Zhihu ensures that its key talent reserve is deeply aligned with future business transformations, solidifying the talent
foundation for long-term organizational development.

Zhihu also regards campus recruits as the reserve force for its long-term strategy. We have established the
systematic “Zhi-Xue Program” to ensure that new talent integrates quickly across both professional skills and
corporate culture dimensions.
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Campus Recruitment Training Program

• We create a deep knowledge cycle through the Zhihu Internal Trainer Management
System. Every campus recruit is assigned a mentor often "industry giants" or senior
Mentorship employees-who provide "companionship-style" guidance ranging from business
operations to career planning. We emphasize the extraction of knowledge from
senior predecessors, encouraging them to transform deep industry insights into
systematic courses for cross-generational wisdom transfer.

• From the initial "Culture Integration Camp" to the mid-term "General Workplace
Digital Skills Series" for digital resilience, and long-term "Professional Deep-Dive Projects"
resilience and for technical innovation, we guide newcomers to master Al collaboration tools at
Al thinking the start of their careers. By strengthening Al thinking capabilities, we ensure our
talent remains agile and competitive amidst technological waves.

• Nautical-Themed Growth Path: Referencing "nautical" concepts, we design clear

growth targets for campus recruits to ensure precise empowerment at different
career stages:
• Onboarding Phase (0-6 months): The "Sailing Camp" focuses on business
understanding, professional conduct, and cultural integration to help newcomers
Phased
adapt to the workplace rhythm.
growth goals
• Integration Phase (7-24 months): Provides general skills and professional
knowledge training, supplemented by "Executive Meetups" and cultural case
sharing to deepen identification with organizational values.
• Maturity Phase (After 25 months): Introduces action learning, management
skills training, and industry exchanges, supporting the transition to senior
professional or management roles through job challenges.

• We use human capital analytics tools to continuously track the growth curves and
Continuous promotion paths of campus recruits.
growth • We optimize feedback mechanisms through regular "Zhi-You Dialogues" to collect
and feedback pain points and adjust training plans in real-time.
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Diversified Training System

Zhihu has built a comprehensive and systematic talent cultivation system. Through the M+ Program (Zhihu Mentor
Mechanism) and the T+ Program (Zhihu Internal Trainer Management System), we solidify the foundation of
employees across three competency modules: General, Professional, and Leadership. We utilize the “Zhi Learning”
online platform to promote self-directed growth, providing customized, multi-dimensional resources for every
employee’s career path.

Leadership is the lighthouse driving Zhihu’s sustainable development. We have

established a complete leadership development system, including the “Sailor
Program” for reserve and new managers, the “Pilot the Future” program for middle
management, and the “20,000 Leagues” program for senior executives. Through
Leadership external visits and annual reviews, we promote the “Navigator Model” and the Zhihu
Training management philosophy.

These are the fundamental qualities for workplace growth. Zhihu conducts annual
systematic training covering processes, business ethics, information security, and
employee safety. We also provide specialized ESG training to strengthen the
General Skills ideological foundation for Zhihu’s ESG initiatives.
Training

Enhancing professional expertise is the core competitiveness for both individual and
corporate growth. Based on professional career paths, we identify key competency
requirements and push HR cultivation deep into business teams through technical
Professional training. Training is categorized into “Advanced” and “Introductory” levels, tailored
Competency to different employee groups.
Training

Zhihu continuously optimizes its training system through feedback mechanisms and course review systems to ensure
content remains up-to-date. While strictly controlling course quality, we utilize a dual feedback and evaluation
mechanism to align training with employee needs and group strategy, thereby improving training effectiveness. We
also support employees in connecting with external professional trends and actively promote the “Internal Trainer”
system, empowering outstanding employees to become knowledge disseminators, and fostering a win-win
relationship between personal growth and corporate development.
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2025 Employee Training Performance Overview:

100% 27,955 hours 15.6 hours

Average training hours per
Employee training coverage Annual training hours
person

Talent Development and Planning

Zhihu is committed to creating a transparent and equal professional development environment. We have established
the Zhihu Rank System, featuring a dual-channel development mechanism for “Management” and “Professional”
sequences. This ensures employees can choose to deepen their expertise or move across sequences based on their
strengths.

Simultaneously, we implement the “Living Water Mechanism” for internal talent mobility. Provided there is a job
match, we encourage employees to transfer internally. This mechanism not only responds flexibly to dynamic
business needs but also provides employees with diverse career possibilities, enhancing organizational agility.

3.3 Building a Workplace with a Sense of Belonging

Zhihu consistently upholds an open, free, and people-oriented management philosophy, dedicated to building a
“happy workplace. ”Zhihu also extensively listen to employee feedback and have established a multi-level,
comprehensive welfare system. Through diverse benefits and care initiatives, we provide employees with a
comfortable and joyful professional environment.

Cultural Co-construction and Recognition

Employees are indispensable members of the Zhihu family. We invite employees to participate in various aspects of
Group management, encouraging them to contribute as family members to enhance engagement and belonging.
We established a Catering Committee, inviting employees to rate meals and inspect central kitchen management,
continuously optimizing participation mechanisms to strengthen their sense of belongings and responsibility within
Zhihu. We work with employees to promote Group culture–such as through the production of the “Zhihu Movies”
series–encouraging staff to integrate Zhihu’s culture with their personal traits to build a strong professional cultural
identity.
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Zhihu regards employees as its most valuable asset and has established a competitive, all-around welfare system:

Work-Life Balance: We have established a scientific performance appraisal system that does not use working
hours or overtime as a measurement standard, safeguarding employees’ rights to rest and leave. Employees
enjoy statutory annual leave and additional welfare leave to support a healthy work-life balance.

Multi-dimensional Physical and Mental Care: We are committed to creating humanized office spaces.

• Office Environment: All staff are provided with high-quality office equipment. Office areas are fully
equipped with ergonomic chairs, fresh air systems, mother-and-baby rooms, and private consultation
rooms to create a comfortable and efficient experience.

• Health Security: We provide the “Five Insurances and One Housing Fund,” annual medical
examinations, accident insurance, and commercial supplementary medical insurance (including coverage
for children). We continuously optimize insurance benefits and expand the scope of reimbursement to
provide a solid medical safety net for employees and their families.

• Catering and Housing Welfare: We provide meal subsidies and collaborate deeply with high-quality
external providers to operate the official “Zhihu Canteen,” offering nutritionally balanced and diverse
meals. For campus recruits, we implement “Housing Subsidies” and partner with Ziroom to provide
rental discounts, effectively easing the housing burden for newcomers during their initial employment
stage.

• Quality of Life: Employees enjoy discounts on products from various partner institutions, enhancing
their overall quality of life.

Diverse Employee Activities and Organizational Cohesion: Zhihu encourages employees to release their
passion outside of professional work, building a corporate culture with community attributes.

“Pirate Club” – Building Cohesion through Shared Interests: We support employees in establishing various
interest groups, such as photography, badminton, and e-sports, and regularly allocate activity funds. Through
the branded operation of the “Pirate Club,” employees find like-minded partners, strengthening their physical
health while enhancing team cohesion.

Festival Care and Surprises: We have established a monthly team-building fund. In 2025, we continued to
carry out creative themed holiday activities, ensuring employees feel the warmth of the Zhihu family.
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Communication and Exchange

Zhihu actively listens to the voices of its employees, placing great importance on feedback and suggestions. We have
built diverse communication channels to respond to employee needs promptly. We have constructed a multi-level
feedback system; in addition to regular Employee Representative Congresses, we have established the “Polaris
Mailbox.” This encourages employees to propose rational suggestions regarding Zhihu’s business strategy,
management, and operations, or to provide feedback and complaints regarding “non-transparent” incidents or
behaviors. Zhihu executives directly monitor and intervene in all employee complaints and feedback, with solutions
personally reviewed by the CEO before being communicated back to the employee. Through the “Polaris Mailbox,”
we aim to break barriers, encourage employees to speak freely, and create a more transparent and healthy
communication environment.

Pirate Ship” “Zhihu All-Staff “Polaris Performance

Online Group” & Mailbox” Feedback
Community “Pirate Butler” Platform

An open platform Real-time A direct mailbox to A channel for

for free communication Zhihu executives that communicating
communication and platforms and protects employee opinions on
mutual assistance channels for privacy. employee
among employees. employees. performance
appraisals.
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Case: Zhihu Recognized with the “Annual Worth-Going Employer” Award – Listening
to Real Voices to Shape a Trustworthy Employer Brand

In the increasingly competitive internet industry, the authenticity and credibility of an employer brand have
become key to attracting top talent. Zhihu firmly believes that authentic employee feedback is a vital driver of
corporate progress and the firmest foundation of an employer brand. To this end, Zhihu actively collaborates with
the professional workplace social platform “Maimai,” participating in its employer evaluation system. On this
platform, all evaluations come from real-name feedback from current and former employees, covering dimensions
such as compensation and benefits, growth space, team atmosphere, and management style. This truly reflects
the company’s comprehensive performance in talent management, organizational culture, and employee
experience.

In 2025, based on continuous investment and a positive reputation in employee care, professional development,
and cultural atmosphere, Zhihu stood out among many participating companies to win the “Annual Worth-Going
Employer” award from the Maimai platform. This award is not applied for by the company itself but is generated
entirely based on real user evaluations and big data analysis, possessing a high degree of objectivity and
credibility.
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3.4 Caring for Employee Health and Safety

Zhihu consistently regards the physical and mental health of employees as the cornerstone of organizational
development. We strictly comply with the Labor Law of the People’s Republic of China , the Law of the People’s
Republic of China on Prevention and Control of Occupational Diseases , and the Fire Protection Law of the People’s
Republic of China , among other laws and regulations. Furthermore, we have implemented the Emergency Plan for
Sudden Employee Illness or Accidental Injury and the Food and Beverage Safety Inspection Standards . Based on
external assessments, Zhihu has no positions that pose hazards to occupational health and safety.

For three consecutive years–2023, 2024, and 2025–the number of work-related fatalities at Zhihu remained at zero,
and the number of lost working days due to work-related injuries was zero, demonstrating a high standard of safety
management performance.

Promoting Physical and Mental Health and Well-being

In addition to providing basic supplementary medical accident insurance and personalized health check-up plans,
Zhihu pays close attention to employees’ psychological resilience. We have established policies and initiatives to
promote mental health, including mental health hotlines and specialized lectures to help employees manage
professional stress and maintain psychological well-being. We also continuously optimize employee rest areas and
provide greenery to create a stress-relieving work atmosphere, safeguarding employees’ physical and mental balance
in a comprehensive manner.

Emergency Response and Proactive Prevention

We are committed to building a comprehensive emergency response mechanism, with detailed contingency plans
and standardized procedures for sudden illnesses, accidental injuries, and food safety. Zhihu has equipped office
areas with Automated External Defibrillators (AEDs) and daily first-aid kits, marked by prominent safety signs. We
implement the Construction Safety Inspection Checklist and the Construction Safety Responsibility Agreement ,
extending safety management to the entire process of office construction. We continue to prioritize the optimization
of the workplace environment, conducting specialized adjustments and air quality monitoring for air conditioning
and fresh air systems to ensure a fresh working space for employees.
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Safety Training and Cultivating Awareness

Enhancing employees’ crisis prevention and self-rescue capabilities is at the core of Zhihu’s safety culture. In addition
to practical drills, we continuously release “Office Safety Initiatives” and display visual posters to integrate safety
awareness into employees’ daily conduct. We also encourage employees to proactively identify and report safety
hazards in the office environment, ensuring that safety awareness remains a constant and deeply rooted priority.

Case: “Workplace Safety Detective Action”

In June 2025, in response to the 24th National Work Safety Month, Zhihu launched the “Detective Action”
theme, using a gamified approach to encourage all employees to participate in safety governance.

• Employees were invited to conduct a “carpet-style” inspection of the

office. Four types of identified hazards, such as power sockets blocked by
plants and aging power strips, were successfully resolved through a closed-
loop process.
Hazard Hunt • Result: 100% rectification rate achieved

• A fire safety knowledge competition was held to strengthen theoretical

understanding.
• Result: 290 participants, with an average accuracy rate of 95.4%.
Brain Power Battle

• Annual fire evacuation drills were conducted to provide practical

experience with fire extinguisher operation and evacuation routes,
enhancing emergency response capabilities. Professional instructors were
also invited to conduct practical first-aid training.
Drills and Life-
• Result: Over 84% participation rate; 100% of trainees passed the
Saving Stations
assessment, with 9 employees achieving a perfect score.
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04 CONTRIBUTING TO SOCIAL VALUE

We actively fulfill our corporate social responsibility by deeply engaging in community welfare activities, striving to
contribute to the overall well-being of society. By leveraging our brand influence and community reach, we completed a
total of 258 targeted public welfare support activities during the year. We are committed to empowering users with positive
energy, giving back to society, and delivering warmth and care through practical actions.

Aligning with the United Nations Sustainable Development Goals:

4.1 Supporting Rural Revitalization

Zhihu actively responds to the national Rural Revitalization Strategy and participates deeply in related public welfare
initiatives. Addressing practical issues in the development of rural industries, we leverage our unique “Q&A
Community” model to create a hub for policy interpretation and practical solutions.

We bring together creators from technical fields, such as agricultural economists, to provide professional answers on
topics like traditional village protection and smart agriculture, while sharing practical schemes for soil improvement.
Through this model, Zhihu efficiently transforms urban intellectual resources into endogenous momentum for rural
development, empowering rural revitalization through knowledge and driving the synergistic development of rural
industries and ecosystems.
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4.2 Consolidating Online Positive Energy

As a knowledge-sharing platform, Zhihu regards professional discussion as a key pillar of our public welfare
endeavors. We encourage professionals to focus on trending topics and stimulate positive community energy
through in-depth analysis. Simultaneously, we collaborate with various social sectors to amplify the effectiveness of
our public welfare initiatives, building an ecosystem where kindness and knowledge form a virtuous cycle, driving
social progress through professional expertise.

Case: “Co-benefit Co-creation Program”

In 2025, Zhihu launched the “Co-benefit Co-creation Program.” Through topic collection, traffic support, and
public welfare linkages, we provided a stage for creators while driving in-depth discussion on social issues. The
campaign achieved significant social influence, with topic views reaching 90.55 million, 134,000 discussions, and
nearly 87.2 million total impressions across all platforms, fully demonstrating the program’s “cross-over” impact.

The program primarily consisted of the following three

initiatives:

1. A s k a P h i l a n t h r o p i s t : W e i n v i t e d p a r t n e r s ,
foundations, and renowned community creators to
serve as “Philanthropists” to provide in-depth answers
to methodological questions encountered by users in
public welfare practices. Selected high-quality
questions received increased exposure and ”Yan credit
( )“ awards, effectively stimulating public interest in
social causes.

2. Spark of Good: This initiative encouraged users to

share innovative ideas for solving social problems.
These ideas were continuously optimized through
collective discussion within the platform to transform
them into feasible solutions. The top 30 creative ideas
were rewarded with public welfare gifts, promoting the
realization of charitable inspiration.

3. Daily Good Question: During the event, the

platform opened a special “Knowledge King” session
for co-creation. By publishing daily questions related to
community welfare, we guided users to learn about
public welfare through interactive quizzes. Participants
received ”Yan credit ( )“ rewards, achieving a fun
and engaging popularization of philanthropic concepts.
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4.3 Focusing on Public Emotional Health

As a platform with a high concentration of young users, Zhihu is acutely aware that mental health among the youth
has become a core topic of high engagement, especially amidst the acceleration of AI applications and the fast-
paced nature of modern society. Addressing sources of anxiety such as interpersonal relationships, the workplace,
parenting, and emotional struggles, we have gathered a large number of experts and professional contributors in
the psychological and medical fields.

Through professional sharing, in-depth discussions, and public welfare activities, we are committed to popularizing
psychological knowledge, analyzing the root causes of issues, and providing professional guidance. This not only
helps users manage stress scientifically but also effectively mitigates negative emotions within the community, using
professional strength to build a healthy and positive online emotional environment.

Case: “It’s Okay, Having a Few Problems is Normal” Offline Salon

On World Mental Health Day, we launched a special offline “Yan Salon” titled “It’s Okay, Having a Few Problems
is Normal,” aimed at paying deep attention to public emotional health.

The event invited cross-disciplinary guests, including sociologists and university lecturers, to share insights on core
issues such as psychological crisis management, anxiety relief, and emotional guidance. Combining personal
experiences with diverse perspectives, the guests turned their attention to broad social groups: from college
students trapped in “involution” (intense competition) anxiety to workplace pillars experiencing the “35-year-old
crisis,” and the elderly who are often overlooked by society.

By meticulously deconstructing common psychological dilemmas, the guests not only helped the audience face
and overcome mental crises but also provided “spiritual solutions” that combined humanistic warmth with
practical utility. We hope that through such deep exchange, everyone can find an emotional outlet under
pressure and reshape their inner peace.
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Case: “Can Human Inspiration be Handed Over to AI?” Roundtable

Against the backdrop of the AI wave sweeping through various industries, Zhihu collaborated with AI developers,
practitioners, and mental health users to launch the “Can Human Inspiration be Handed Over to AI?” roundtable.
Addressing the workplace anxiety felt by some young people fearing replacement by AI, the event invited guests
from various sectors to engage in multi-dimensional discussions on AI creation versus human creativity, providing
in-depth answers to real-world concerns.

By gathering public wisdom, we explored how to further highlight the unique value of humans as the boundaries
of AI capabilities continue to expand. This activity not only helped users objectively view the relationship between
AI and their own development but also effectively alleviated the emotional stress brought by technological
change, guiding the public to embrace future challenges and opportunities with a more positive and rational
mindset.

4.4 Assisting in Ecological Environmental Protection

Zhihu actively fulfills its environmental responsibilities. Although our business operations do not involve significant
environmental impacts, and we do not directly own or operate any data centers, we consistently focus on ecological
protection. By partnering with various charitable organizations, Zhihu actively carries out various public welfare
activities and promotional campaigns to help establish a sustainable ecological environment and contribute to the
protection of our planet.

Case: Supporting Ecological Protection Through Action

Zhihu has always been committed to spreading green living concepts through practical actions. In 2025, we
donated to support the “Jingcao Carnival” (Wild Grass Carnival) organized by the SEE Foundation. This event
promotes green lifestyles to the public through rich ecological science popularization and immersive natural
experiences, effectively driving biodiversity conservation. This donation directly supported the smooth execution
of ecological science and nature experience activities across various regions, allowing environmental concepts to
take root in people’s hearts.
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05 RESPONSIBLE GOVERNANCE
The Group upholds the philosophy of excellence in governance, continuously refining our corporate governance framework
to protect shareholder rights and drive sustainable development. Regarding ethical conduct, we strictly adhere to the
principle of integrity in operations and have established a zero-tolerance anti-corruption mechanism. Through systematic
reviews, employee training, and the optimization of whistleblowing procedures, we continuously regulate business conduct.
Simultaneously, we have fully implemented life-cycle supply chain management, committing to mutually beneficial
partnerships with suppliers to practice responsible operations together.

Aligning with the United Nations Sustainable Development Goals:

5.1 Corporate Governance Structure

Zhihu places high importance on the independence, diversity, and professional expertise of the Board of Directors.
During the director nomination process, we comprehensively consider multiple factors–including gender, age,
cultural background, educational experience, industry expertise, and professional skills–to promote a diverse and
balanced Board composition. The Nomination Committee periodically reviews the Board Diversity Policy, as well as
the structure, size, and composition of the Board, providing recommendations for optimization accordingly.

Currently, the Zhihu Board of Directors consists of seven members. In addition to implementing gender diversity, we
emphasize a multi-dimensional balance of professional backgrounds, industry seniority, and core skills. We have
gathered top experts specializing in aspects including technological innovation, financial audit, and capital
operations. Through a clear leadership structure and exceptional professional caliber, we ensure the Group possesses
forward-looking strategic insight grounded in stable operations.

During the Reporting Period, the Group organized a series of training sessions for all directors and management,
covering key areas such as listing compliance, corporate governance, ESG, and anti-fraud, thereby strengthening the
compliance awareness of Board members and enhancing decision-making quality and corporate governance
standards.

Board Independence and Diversity Board Structure

Audit Remuneration Nomination Corporate

Committee Committee Committee Governance
Board Female Independent Committee
Members Directors Directors

7 1 3
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5.2 Risk Management

Zhihu is committed to establishing effective risk management and internal control systems to ensure stable business
operations and create long-term value for the Group. The Audit Committee assists the Board in continuously
supervising the implementation of risk management policies at the Group level, ensuring that internal control
systems effectively identify, manage, and mitigate risks involved in business operations. The Group has established
an Internal Audit Department responsible for reviewing the effectiveness of internal control systems and reporting
any identified issues to the Audit Committee.

In daily operations, the Group faces various risks, including operational, credit, data privacy, legal compliance, and
internal control risks. To address these challenges, we have constructed a “Three Lines of Defense” risk management
model and established an internal risk control framework and risk management system under the Board’s
supervision, achieving systematic management of internal and external risks.

“Three Lines of Defense” Risk Management Model

Business Departments:
First Line of Defense Responsible for identifying, assessing, monitoring, and managing potential risks
in daily operations

Functional Departments such as HR, Legal, Finance, Risk Control,

Community, and Safety & Governance Center:
Second Line of Defense
Responsible for providing professional expertise, support, and safeguards for the
effective implementation of the first line of defense.

Monitoring and Internal Audit Functions of the Risk Control Center:

Responsible for evaluating the Group’s risk management and internal control
Third Line of Defense
systems and supervising the implementation status of the first and second lines
of defense. This function maintains a high degree of independence.
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We continuously enhance internal control effectiveness by strengthening internal control systems, reinforcing
compliance reviews, and implementing project audits. The Group has formulated core systems such as the
Regulations Management Code, the Conflict of Interest Management Policy, and the Internal Audit Management
Policy. Referencing the COSO Internal Control Framework model, we have established a comprehensive risk
management process and implemented a full-chain risk control process to effectively identify and respond to various
risks.

Risk Management Process

Periodically conduct internal self-assessments of risks faced by the Group, forming

Risk documents such as risk self-assessment tracking lists.
Identification

Synchronize identified risks with relevant departments for confirmation.

Risk
Confirmation

Formulate audit plans and corresponding risk response measures based on different
risks. Senior management and the Internal Audit Department supervise rectification and
Risk Response follow up on progress to ensure issues are resolved.

Senior management and the Internal Audit Department conduct reviews of major risk
cases, proposing improvement suggestions to enhance risk management levels.
Risk Assessment
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5.3 Fostering a Fair Business Environment

Adhering to high standards of business ethics is the core guarantee for a company’s long-term development. Zhihu
strictly follows ethical norms of fairness, trust, and openness, maintains zero tolerance for corruption, and is
committed to building a sustainable business environment within internal management and the external ecosystem.

Zhihu is committed to fostering a fair market environment, firmly opposing actions that improperly restrict or
eliminate market competition and consistently engaging in anti-unfair competition and anti-monopoly efforts. Based
on laws and regulations, such as the Law of the People’s Republic of China Against Unfair Competition and the
Anti-Monopoly Law of the People’s Republic of China , Zhihu promptly updates relevant Group policies, cultivates a
culture of integrity and honesty, upholds its responsibilities and obligations, and establishes a transparent, fair, and
ethical foundation for business conduct.

Zhihu implements a zero-tolerance policy toward corruption. We establish “red line” awareness and promote the
construction of an upright enterprise through anti-corruption system building, employee codes of conduct, partner
advocacy, and other initiatives. During the Reporting Period, the Group was not aware of any concluded legal cases
regarding corruption involving the Group or its employees.

Anti-Corruption Policy and Management System

Zhihu has formulated internal systems such as the Zhihu Employee Integrity Code, the Zhihu Employee “Seven Red
Lines”, the Zhihu Employee Sunshine Declaration Policy, and the Zhihu Sunshine Monitoring Policy. Led by the Risk
Control Center with the collaboration of the Legal, Human Resources, and Finance departments, we have
established an anti-corruption governance mechanism. We regularly report anti-corruption progress to the Board’s
Audit Committee, continuously improve the anti-corruption system, strengthen internal supervision, and regulate
corporate anti-corruption behavior.

Synergistic Governance of Anti-Money Laundering and Anti-Unfair

Competition
To comprehensively prevent operational risks, Zhihu incorporates Anti-Money Laundering (AML) and anti-unfair
competition into a unified compliance framework. In accordance with the laws and regulations, such as the Anti-
Money Laundering Law of the PRC and the Law Against Unfair Competition , Zhihu has formulated the
Administrative Measures for Anti-Money Laundering and Anti-Terrorist Financing and the Compliance Guidelines for
Market Competition Behavior, defining the responsibilities and behavioral boundaries of each department. Through
an intelligent risk monitoring system, we conduct real-time monitoring of capital flows and market behavior, sharing
whistleblowing and investigation resources with the anti-corruption mechanism to form a compliance defense
system covering multi-dimensions including finance, markets, and partnerships.

Policy Communication and Specialized Training

In 2025, in cooperation with the Cyberspace Administration of China (CAC), we utilized their official platform to
conduct focused business ethics training for key positions and personnel within the Group. The training, which ran
from November to December 31, 2025, covered 100 personnel in high-risk positions. The content was closely
aligned with current internet enterprise compliance practices, enhancing the relevance and effectiveness of the
training. Additionally, the Supervision Department conducted multiple integrity advocacy training sessions for
specific business units (such as the Growth Center, Community Operations, and Commercial Advertising Sales teams)
during the year.
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Key Control Measures

Employee Code of Conduct and Training

• All employees are required to study the Zhihu Employee “Seven Red Lines” and the “Zhihu
Employee Integrity Code”.

• Training content is closely integrated with internet industry characteristics and regulatory
dynamics, covering interpretations of internal systems like the Zhihu Employee Integrity Code and
Zhihu Employee “Seven Red Lines”, analysis of typical fraud cases, conflict of interest declaration
guidelines, and explanations of internal whistleblowing and protection mechanisms. The training
enables employees to understand behavioral boundaries, identify business integrity risks, and
follow appropriate procedures for guidance and oversight.

• Specialized integrity education and scenario-based simulations are conducted for high-risk
positions such as procurement, sales, finance, and public relations. Various formats–including
online courses, offline lectures, interactive seminars, and assessments–are used to ensure results
are measurable and traceable.

• Learning effectiveness and behavioral improvements are evaluated through post-training surveys
and knowledge tests. Training materials are updated regularly to reflect the latest regulatory
changes and internal policy adjustments. Annual anti-corruption and anti-commercial bribery
training is organized for all staff.

Digital Monitoring and Audit

• Digital tools such as financial systems, procurement platforms, and contract management systems
are used to achieve real-time monitoring and abnormal alerts for key business processes. The
Internal Audit Department periodically conducts integrity audits in key areas such as
procurement, marketing, and investment/financing.
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Whistleblowing and Investigation Mechanism

• The Group has established a multi-channel whistleblowing platform (including anonymous email,
hotlines, and internal system portals) and internal systems such as the Supervision Department
Case Investigation Norms and the Whistleblower, Complainant, and Witness Protection Policy.
These regulate the whistleblowing process and establish protection mechanisms, strictly
controlling access to reports to ensure the security of whistleblower information and privacy,
precluding any form of retaliation. Whistleblowers may submit information via the monitoring
and reporting email, with cases handled in accordance with internal investigation processes and
timelines to ensure timely response and follow-up.

• For cases where allegations are substantiated, the Group strictly enforces disciplinary actions and
refers cases to judicial authorities depending on the severity.

Partner Integrity Management

• Integrity background checks are implemented during the onboarding of business partners
including suppliers, contractors, agents, and they are required to sign an Integrity Cooperation
Agreement .

• Periodic integrity assessments and audits are conducted for business partners, with specialized
compliance checks for key collaborators.

Internal Processing Flow

Zhihu’s internal integrity supervision is managed by the Risk Control Center. Through routine audits, whistleblowing
intake, and daily data analysis, and other means, the center proactively identifies and investigates suspicious
individuals and matters, handling confirmed fraud in accordance with laws and regulations. During the reporting
year, the supervision platform operated stably, maintaining normalized operations in daily collaboration, risk
warning, and existing risk screening to ensure the integrity defense line remains robust.

Zhihu strictly follows the Whistleblower Protection Policy to ensure that reporting channels are open, processes are
secure, and handling is fair. The Group encourages internal and external personnel to report any suspected
violations of laws, regulations, or business ethics. We promise strict confidentiality of whistleblower information and
strictly prohibit any form of retaliation.
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To facilitate the reporting of issues by stakeholders, Zhihu provides the following channels:

Whistleblowing Channels

jubao@[Link] Encrypted management by designated

Whistleblowing Email
personnel
Located in the Risk Control Center;Answered throughout business
Whistleblowing Hotline
days
Internal Portal Employees can submit via the OA Integrity Reporting module.

Designated address for the Zhihu Supervision Department in

Mailing Address
Beijing.

All reports are centrally managed by the Risk Control Center following a six-step closed-loop process:

Standardized investigation and processing procedures

Receipt and Designated personnel receive reports from all channels, assigning unique tracking numbers to ensure records
Registration are complete and traceable.

Preliminary Initial assessment completed within 3 working days to determine if the report falls within the scope of
Evaluation acceptance. Qualified cases are formally filed, and an investigation team is formed.

The team conducts investigations according to regulations, collaborating with Legal, HR, and Finance
Investigation
departments as necessary while ensuring the safety of whistleblower and witness information.

Reporting and A report is formed after the investigation, providing handling recommendations for approval by the Audit
Approval Committee or relevant senior management.

Handling and For confirmed violations, disciplinary actions, economic recovery, or referral to judicial authorities are executed
Execution based on company policies.

Archiving and
Case materials are fully archived, and periodic reviews are conducted to optimize systems and processes.
Optimization
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Disclosure, Transparency, and Continuous Integrity Actions

Zhihu periodically discloses anti-corruption policies, training status, and whistleblowing mechanisms through its
official website, annual ESG reports, and internal communications to enhance transparency. Zhihu will continue to
optimize its anti-corruption management system, focusing on the construction of intelligent risk monitoring systems
to improve early warning capabilities. In the future, we will launch more integrity culture brand activities to enhance
awareness, referencing and aligning with domestic and overseas anti-corruption standards to continuously improve
compliance levels.

5.4 Ensuring Responsible Supply Chain Management

Zhihu views the supply chain as a critical link in achieving sustainable development. We are committed to building a
responsible, resilient, and highly collaborative supply chain system. By systematically integrating ESG principles into
the entire process of supplier admission, assessment, cooperation, and development, we manage environmental and
social risks within the supply chain and work with partners to drive a green transformation of the value chain and
achieve long-term mutual success.

Management Systems
Zhihu strictly adheres to the Law of the People’s Republic of China on Bid Invitation and Bidding and the Regulations
for the Implementation of the Law of the People’s Republic of China on Bid Invitation and Bidding , along with other
relevant laws and regulations. The Company has established a series of high-standard supplier management
regulations, including the Supplier Management Specifications of Zhihu, the Procurement Management Regulations
of Zhihu, and the Management Specifications for Sourcing, Procurement and Contract Fulfillment of Zhihu. These
regulations provide comprehensive control over procurement activities from policy formulation to execution.
Additionally, Zhihu has developed strict management requirements for procurement and requisitioning personnel,
such as the Code of Conduct for Procurement Employees of Zhihu and the Code of Conduct for Procurement
Employees of the Group, to create a robust supplier service guarantee system.

Supplier Admission and Classified Management

Based on the products and services provided, we classify suppliers into three major categories: IT, General Services,
and Marketing Services, implementing differentiated admission assessments and management strategies.

As of the end of 2025, Zhihu had a total of 8,148 active suppliers (including 8,008 in Mainland China, 22 in Hong
Kong, Macau, and Taiwan, and 118 overseas). 100% of suppliers involved in procurement activities are aware of
and comply with Zhihu’s supplier management policies. We continue to expand the scope of systematic
management; this year, 1,061 core and key suppliers were incorporated into our unified supplier management
system to implement standardized management practices.
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Supplier ESG Assessment and Risk Management

We continuously refine our supplier ESG assessment mechanism, embedding environmental and social risk
assessments into both the admission and contract fulfillment stages. We focus on compliance and performance in
areas such as environmental impact, labor rights, business ethics, and information security management. Based on
the Supplier Performance Management system, Zhihu tracks and evaluates supplier performance continuously.
Depending on the category and business characteristics, we conduct assessments periodically-monthly, quarterly, or
annually. Results are reflected through scores and ratings, supported by positive and negative incentive mechanisms
to encourage suppliers to improve management quality. For suppliers identified with negative impacts during
assessments, we implement measures such as time-bound rectifications, on-site audits, and performance interviews,
while tracking their improvement progress.

Zhihu sets differentiated qualification and inspection standards for different

procurement categories:

• Zhihu requires qualifications such as Cybersecurity Multi-Level Protection Scheme (MLPS)

certification, energy-saving review certificates, and Environmental Impact Assessments (EIA).

• Zhihu requires certifications such as ISO 9001 (Quality Management) and ISO 14001
(Environmental Management).

• For certain critical suppliers, Zhihu conducts on-site inspections to strictly control admission
thresholds, prioritizing products and services from suppliers with environmental certifications to
practice responsible procurement.

In the increasingly vital field of data security, we have integrated supply chain information security control into the
Group’s overall governance framework. In 2025, the procurement department actively supported internal and
external audits for ISO 27001 (Information Security Management) and ISO 27701 (Privacy Information Management)
systems, ensuring supplier management aligns with international standards to collectively fortify data security.
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Supplier Integrity and Compliance Commitments

Integrity and fair trade are the cornerstones of our cooperation with suppliers. We require 100% of suppliers
involved in new procurement activities to sign the Anti-Corruption and Anti-Bribery Agreement and the Commitment
to Fair Trade, establishing behavioral norms at the contractual source. To further reinforce compliance awareness,
we integrate integrity advocacy into daily business interactions. In 2025, during on-site inspections of 21 suppliers,
we conducted face-to-face briefings on business ethics and anti-corruption to promote a culture of compliance
throughout the supply chain.

Collaborative Development with Suppliers

To improve collaboration efficiency, we implemented the following key initiatives in 2025:

A total of 44 supplier training sessions were held throughout the year, including 23
Supplier Training &
sessions on business exchange and rule communication at bidding sites, and 21
Capacity Building
sessions on integrity and compliance during on-site inspections.

For the first time, we conducted a cooperation experience survey for all active
Supplier Experience suppliers, achieving a response rate of 74.71%. The survey covered commercial
Survey efficiency, compliance support, ESG synergy, and other areas to identify pain points
and optimize collaboration mechanisms.

Zhihu’s online procurement system has achieved end-to-end digital management.

Through the dimensions of procurement operations and supplier management, we
gain comprehensive insights into execution. The “Full-Chain Data Dashboard”
provides data support for optimizing procurement strategies, enhancing the scientific
feasibility of decision-making, and strengthening dynamic supplier management, risk
Digital Transformation
monitoring, and early warning.
Empowerment
In 2025, we launched a digital upgrade project for the procurement system, focusing
on three directions: intelligent risk control, paperless processes, and transparent
settlement, utilizing technology to enhance the overall efficiency and sustainability of
the supply chain.

Green Procurement and Low-Carbon Supply Chain

We actively incorporate environmental factors into procurement decisions, prioritizing products and services that
meet environmental standards. For key suppliers such as data centers, we continuously monitor their performance in
energy efficiency, carbon management, business continuity, and climate risk management.

Looking ahead, we aim to move toward a more responsible value chain by focusing on the following goals to
deepen ESG integration and innovation:

This year, we implemented an online electronic signing system to achieve full

Full Implementation of
digitalization and paperless contract execution, improving efficiency and reducing
Electronic Signing
resource consumption.

Launch of Based on deep insights from the 2025 supplier survey, we will systematically launch
Collaborative “Supply Chain Collaborative Optimization Actions” to establish long-term,
Optimization Actions normalized mechanisms for supplier support and mutual development.

Refinement of ESG We will continuously iterate the supplier ESG assessment model, strengthening the
Performance measurement and management of environmental and social impacts to build a more
Evaluation resilient and sustainable value chain with our suppliers.
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06 ADVOCATING FOR ENVIRONMENTAL PROTECTION

Zhihu is committed to addressing the climate challenges of its future business, actively conducting climate risk assessments
and management, and moving toward a green and sustainable future. While continuously promoting green office practices,
we leverage our platform’s influence to actively disseminate environmentally friendly and green concepts, guiding the public
to focus on climate change and collectively building an ecological civilization.

Aligning with the United Nations Sustainable Development Goals:

6.1 Addressing Climate Change

Zhihu attaches great importance to the potential impact of climate change on its business ecosystem. We have
systematically built a climate risk management mechanism centered on the four core pillars of Governance, Strategy,
Risk Management, and Metrics and Targets, strictly following the “Climate-related Disclosures” requirements in Part
D of the ESG Reporting Guide of the Hong Kong Stock Exchange and referencing IFRS S2 – Climate-related
Disclosures issued by the International Sustainability Standards Board (ISSB). We are committed to achieving our own
green transformation through the application of AI technology, thereby empowering users, industries, and society
toward green development, creating a more resilient and sustainable future while addressing climate challenges.

Governance
Zhihu consistently integrates sustainable development concepts into its corporate strategy and earnestly fulfills its
emission reduction commitments. We place high importance on climate change governance, ensuring that climate-
related risks and opportunities are effectively identified and addressed by continuously optimizing internal
management mechanisms.

The Board of Directors, as the highest decision-making body for the Group’s climate change matters, bears ultimate
responsibility for climate-related strategies, information disclosure, and management effectiveness. The Board has
authorized the Corporate Governance Committee to provide specialized oversight of climate-related issues. This
committee is responsible for supervising the identification, assessment, and management processes of climate risks,
reviewing the formulation and progress of climate-related targets, and providing professional recommendations to
the Board. Simultaneously, the committee oversees relevant functional departments in implementing climate
response actions. In supervising Group strategies, major transaction decisions, and risk management, the Corporate
Governance Committee fully considers climate-related risks and opportunities, prudently weighing trade-offs–such as
balancing short-term transition costs against long-term sustainability benefits–to ensure decisions align with the
Group’s long-term interests. At the execution level, the ESG Working Group manages and supervises the Group’s
daily ESG governance to ensure strategies, targets, and policies are implemented across all business segments. The
Corporate Governance Committee meets at least once a year to report annual progress to the Board. Additionally,
the Board reviews the ESG report annually to stay updated on climate-related risks and opportunities, ensuring
climate factors are fully integrated into the Group’s overall strategic planning.

To ensure the governance level is equipped to handle climate issues, we conducted ESG and climate-related training
or sharing sessions for the Board and management during the Reporting Period. These sessions aimed to help
management understand the latest guidance changes and industry responses. As of the end of the Reporting Period,
the Group has not yet incorporated climate-related factors into its remuneration policy. In the future, we will
evaluate and improve relevant incentive mechanisms based on regulatory requirements and actual business
conditions. For detailed responsibilities of the climate governance structure, please refer to the “ESG Governance
Structure” section.
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Strategy
Zhihu continuously monitors changes in the external environment, dynamically reviewing and updating its climate
strategy. We have identified a series of climate-related risks and opportunities with significant financial impacts and
formulated targeted response measures. We assess direct or indirect financial impacts across short-term (within 3
years), medium-term (3-5 years), and long-term (over 5 years) horizons. Currently, we have identified 5 climate risks
(3 transition risks and 2 physical risks) and 2 climate opportunities, aiming to seize green transition prospects to help
build more climate-resilient communities and society.

Potential Time Scope of

Risk Type Risk Description Key Response Measures
Financial Impact Horizon Impact

Physical Risks

Upstream • Consider historical natural

value chain, disaster data when the
Direct Group selects operational
operations sites or leasing data
centers, and prioritize
locations with favorable
Frequent extreme climate conditions.
weather (typhoons, • Increased • Equip leased data centers
rainstorms, blizzards) operating with diesel generators,
affects office and leased costs UPS, and thermal storage,
Acute data center operations • Increased among other infrastructure
Short-
Physical and equipment safety; insurance and measures, to mitigate risks
term
Risk extends employee subsidy costs from extreme weather.
commutes. These pose • Revenue loss • Issue early warnings and
a potential threat to from business alerts for extreme weather;
employee safety and interruption implement Emergency
business continuity. Response Plans , which
includes specific protocols
for flood control and other
natural disasters;
implement remote work
when needed to safeguard
personnel and property.

Upstream • Maintain optimal office

Global warming (rising
• Increased value chain, temperatures via employee
average temperatures,
operating Direct feedback.
Chronic changing precipitation
costs Long- operations • Set performance KPIs for
Physical etc.) increases demand
• Increased term leased data centers to
Risk for cooling and water in
capital maintain reasonable
offices and leased data
expenditure energy use and supply
centers.
levels.
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Potential Time Scope of

Risk Type Risk Description Key Response Measures
Financial Impact Horizon Impact

Transition Risks

Stricter climate-related Upstream/ • Regularly monitor climate-

laws, regulations, and Downstream related laws, regulations and
rising expectations for value chain, policies; communicate
environmental Direct impac t s across business
disclosure from operations lines; implement appropriate
domestic and
strategies and measures.
international regulators,
• Increased • Optimize environmental
as well as rating
operating management measures;
indices. Zhihu must Medium
Policy & costs enhance monitoring
continuously improve to Long-
Legal Risk • Increased and analytical control
the comprehensiveness term
capital systems to improve the
and accuracy of its
expenditure comprehensiveness and
environmental reporting
accuracy of environmental
to mitigate compliance
reporting.
risks and avoid potential
costs associated with
high emissions and
required reduction
investments.

Upstream • Optimize operational

value chain, efficiency; use energy-
Direct saving technologies and
Pressure to transition to operations equipment; monitor and
low-carbon manage overall energy
technologies amid • Increased performance; explore clean
global climate operating energy opportunities.
Medium
Technology adaptation and costs • Encourage adoption of
to Long-
Risk mitigation efforts, • Increased green technology by Zhihu
term
adopt low-carbon capital and its value chain, e.g.,
solutions and purchase expenditure increase the use of cloud
energy-saving servers, promote green
equipment. offices practices; explore
energy conservation and
emissions reduction
opportunities.
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Potential Time Scope of

Risk Type Risk Description Key Response Measures
Financial Impact Horizon Impact

Direct • Leverage the resources and

Potential loss of market operations, influence of the Zhihu
• Increased
share if carbon Downstream platform to advocate
capital Medium
emissions are not value chain green concepts through
expenditure to Long-
reduced as public campaigns, roundtables,
• Decreased term
environmental exhibitions, and other means
revenue
awareness grows. to enhance corporate image
Market
customer appeal.
Risk
Upstream • Strengthen environmental
Growing adoption of
value chain, requirements for suppliers;
sustainability policies
• Increased Direct use incentives and penalty
extends emission effort Long-
procurement operations mechanisms to promote
to value chain. This term
costs clean energy use; energy-
increases demand for
efficient technologies, and
green supply chains.
other low-carbon measures.

Direct • Strengthen stakeholder

operations, engagement and enhance
Downstream completeness, accuracy,
Stakeholders place
value chain and transparency of
increasing attention on • Increased
disclosure on key areas of
corporate green operating
concern.
development and costs
• Continuously clarify
Reputation emissions reduction • Decreased Long-
environmental impact
Risk performance with the revenue term
targets to contribute to
introduction of China’s • Increased
achieving “Carbon Peak and
“Dual Carbon” goals, financing
Carbon Neutrality”
raising expectations for costs
goals, strengthening the
Zhihu’s response.
Zhihu’s reputation in
social responsibility and
environmental protection.
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Opportunity
Opportunity Description Time Horizon Our Actions
Type

Improving the efficiency of Adopting new energy-saving technologies and

Resource electricity, water, and other Short to high-efficiency equipment in offices to enhance
Efficiency resource use to reduce Medium-term office electricity and water efficiency.
operational to reduce costs.

Launching products to Providing ESG-related certification courses and

popularize environmental exams on our training platform on our training
protection and ESG platform, enabling interested user to yale part in
Medium to
Products knowledge, enhancing the courses and the examinations.
Long-term
awareness of carbon
reduction and
sustainability.

Risk Management
Zhihu periodically reviews all corporate risks that may affect business operations, including climate-related risks. The
Risk Control Center is responsible for analyzing the Group’s overall risk management and internal control systems,
performing scientific risk ratings based on the likelihood of occurrence and the degree of impact on financial and
business operations.

This year, we identified no significant climate-related risks, and our risk management process remained unchanged
in response to new climate risks. The Board and Audit Committee regularly review the identification and
management of climate risks and opportunities, supervising the effectiveness of response measures and providing
management advice to ensure the Group remains robust amidst climate changes.

Metrics and Targets

Zhihu actively responds to the goals of the Paris Agreement and China’s “3060” Dual Carbon goals by setting clear
climate-related targets. In driving the transition to a green economy, we focus not only on hard indicators like
energy saving and emission reduction but also on the “soft power” of employee environmental awareness. Through
energy-saving strategies and green office actions, we aim to reduce operational carbon emissions (see Sections 6.2
and 6.3 for details). During the Reporting Period, we did not invest any material amount of capital expenditure
towards climate-related risks and opportunities, and only conduct routine office energy management.

At the same time, we have established an environmental target monitoring mechanism to track key indicators.
Currently, the Group has not integrated climate factors into remuneration or adopted internal carbon pricing. We
will continue to monitor industry trends and explore the feasibility of internal carbon pricing to refine our carbon
management system, ensuring steady progress along the path of green and low-carbon development.
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Zhihu Environmental Targets

Carbon Reduction Target

Self-operated sites:

• By 2027, reduce Scope 2 GHG emission intensity (tCO 2e/sqm) by 5% compared to the 2022
baseline.

• The current greenhouse gas emission density in Scope 2 is 0.05 tons of CO2 equivalent per square
meter, a reduction of 19.7% compared to the baseline year.

Waste Management Target

Zhihu Office Implementation:

• 100% Non-hazardous Waste Sorting; and

• 100% Hazardous Waste Recycling and Treatment

2025 Status:

• All non-hazardous waste has been sorted and disposed of.

• All hazardous waste has been recycled or rendered harmless by third parties.

Energy Saving Targets

Zhihu’s all self-operated sites:

Ø Based on 2022’s value, reduce electricity consumption per unit area by 5% by the end of 2027.

2025 Status:

• Currently the group’s electricity consumption per unit area is 84 kWh/m2, a decrease of 14.4%
compared to the baseline year. We will continue to take environmental actions to maintain this
emission reduction effect.
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6.2 Practicing Green Operations

Zhihu upholds the philosophy of green operations, strictly adhering to the Environmental Protection Law of the PRC ,
the Energy Conservation Law of the PRC , the Water Pollution Prevention and Control Law of the PRC , the Solid
Waste Pollution Environmental Protection Law of the PRC , and the Regulations on Domestic Waste Management of
Beijing Municipality and other laws and regulations. By formulating internal standards such as the Zhihu Office Area
Energy Conservation Policy, we strive to build a low-carbon operational model. We focus on office processes and
value chain management to contribute to environmental sustainability and achieve harmony between the enterprise
and nature.

During the Reporting Period, we had no violations of environmental laws, no major environmental incidents, and
received no notices of environmental penalties or litigation.

Green Office
To improve energy management, we established an Energy Management Team responsible for environmental
management, policy development, advocacy of energy conservation, and supervision in office areas. The team
monitors energy consumption monthly. Execution is detailed by office area and implemented by the Administration
Department to ensure green office targets are met.

Energy Use
In equipment management, we use energy-saving LED lighting and smart HVAC systems, dynamically adjusting
temperatures based on seasons. Through a power box monitoring system, we achieve real-time load monitoring; this
year, we identified and adjusted high-voltage risks in certain areas, preventing equipment inefficiency and extending
equipment lifespan. We also prioritize purchasing second-hand furniture to promote circularity.

In practice, we advocate for “lights off when leaving” to reduce standby power. On-site personnel conduct three
daily inspections and temperature checks to ensure idle equipment is turned off. We include energy and water
saving in employee training and internal communications. In addition, energy-saving and emissions reduction
signage is placed near major electricity-consuming equipment, embedding green office principles into daily
operations.

Resource Utilization
We manage resources with a focus on conservation, primarily regarding water and office supplies. As the Group
does not produce physical products, we generate no packaging waste.

No issues related to water sourcing have been identified. All fresh water is supplied by the municipal government.
We have taken various measures to improve utilization efficiency, including reinforcing regular maintenance to
ensure proper operation of faucets and related systems, and installation of sensor-activated faucets and smart
flushing systems to optimize water usage. Water-saving signage is also used to promote water conservation habits.

In terms of office supplies, we encourage double-sided printing, paper reuse, and paperless offices. Office areas are
equipped with paper recycling bins for the collection and reuse of recyclable paper. Additionally, we prioritize the
use of refillable pens and other reusable office supplies to reduce disposable items and minimize resource waste at
the source.
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Waste Management
Disposed wastes from Zhihu’s office operations mainly include non-hazardous waste (domestic and food waste) and
small amounts of hazardous waste (batteries, toner cartridges). During disposal, we adhere to the principles of waste
segregation and harmless treatment, and follow a “four-category” sorting method for domestic waste from office
operations, aiming to facilitate waste recycling and circularity. Hazardous waste is is classified based on its nature,
with dedicated collection, storage, and treatment processes to ensure effective management and minimize
environmental impact.

Multiple measures were implemented this year to minimize waste generation at the source:

• Eco-friendly products: Replaced single-use food containers with biodegradable food container, and
switched printer cartridges to biodegradable models.

• Recycling: Implemented plastic bottle recycling.

• Reducing packaging: Replaced office bottled water with direct drinking water systems to minimize
bottled water usage and packaging waste.

• Fine management: Implemented systematic catering management to reduce food waste and minimize
kitchen waste at the source.

• Recycling activities: Held second-hand markets to facilitate employee exchanges of idle items and
donate unused departmental supplies to those in need.

Green Data Centers

Held second-hand markets to facilitate employee exchanges of idle items and donate unused departmental supplies
to those in need.

• Expanding Cloud Server Proportion: Comparing to the traditional servers, cloud servers allow flexible
resource allocation based on operational needs. Through task and resource integration, we effectively
prevent electricity waste from idle equipment and improve overall efficiency and resource utilization.

• Selecting Energy-Efficient Centers: At the server leasing approval stage, we require suppliers to
provide environmental certifications; some partners have achieved carbon neutrality certification. We
prioritize centers with high energy efficiency and set Power Usage Effectiveness (PUE) performance
requirements, enforcing strict control over energy usage levels.

• Optimization of Online/Offline Hybrid Deployment in Data Centers: We use dynamic scheduling

to fill idle resources with offline tasks to achieve (“peak shaving”). We regularly scan utilization rates to
optimize resource allocation and recycle inefficient machines, reducing overall server and infrastructure
energy consumption.
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2025 Key Data Center Metrics:

Annual minimum PUE for online rental data Annual minimum PUE for offline rental data center:
center:
1.16
1.18

6.3 Advocating Environmental Concepts

Zhihu integrates environmental concepts into its corporate culture, empowering green transformation. Leveraging
our platform’s reach and influence, we actively promote sustainable lifestyles to users and society, collectively
contributing to climate change mitigation.

For employee, we advocate for low-carbon living, encouraging walking, cycling, and public transport. We also
encourage taking the stairs to reduce lower elevator energy consumption. At the same time, By tracking and
analyzing employee business travel data, we implement operational strategies to reduce the use of high-emission
transportation such as airplanes, fostering environmental awareness.

Case: Green Travel Promotion

To promote green commuting and support the achievement of carbon neutrality goals, we collaborated with a
client to hold the “Dongfeng Honda S7 EV Experience Event”, introducing new energy vehicles at Zhihu
Headquarters., Employees deepened their understanding of new energy transportation through test-drives,
effectively promoting the concept of sustainable commuting. Participating employees received exquisite branded
merchandise as rewards, encouraging electric vehicle adoption and low-carbon lifestyles.
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For users and society, our platform hosts extensive ESG educational content published by enterprises and
collaborative third-party institutions. Through articles, live streams, columns, and other means, we enable a wider
audience to access and understand ESG knowledge. By integrating industry experts, corporate case studies, and
practical tools, the platform has built a dynamic ESG learning ecosystem, continuously promoting green and
sustainable practices and advancing societal sustainability.

Case: Zhihu Zhixuetang ESG Training

With the gradual implementation of “Dual Carbon” policies, businesses are facing higher standards, and ESG
talent development has become a focus of internal training. To address this, Zhihu’s corporate training service
platform, “Zhixuetang Enterprise Edition,” has launched a special course, “Frontiers of Corporate Development:
ESG and Dual Carbon,” offering a comprehensive solution through three pathways, from introductory to
advanced:

Pathway 1: Company-wide Introduction

Suitable for employees at all levels interested in ESG. This course aims to establish a basic understanding of ESG
and its applications, providing an overview of Dual Carbon policies and contributing to sustainable corporate
development.

Pathway 2: Skills Enhancement

Targeting employees and managers in practical roles related to green finance, carbon emission management, and
IPO ratings, and other practical perspectives, this course provides in-depth skills instruction and policy
interpretation to enhance business capabilities and effectively identify corporate risks.

Pathway 3: Professional Certification

For professionals seeking certification, this course focuses on core examination topics, helping employees obtain
ESG professional certifications, enhancing their personal value and the company’s market competitiveness.
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Case: “Sustainable Philosophy of Modern Youth” Theme Salon

This year, we hosted a salon themed “Sustainable Living Philosophy of Contemporary Youth,” initiating an in-
depth dialogue and experiment on living well, from mind and body to daily life, and jointly exploring everyone’s
answer to “sustainable living.” The event featured three carefully designed interactive sessions:

Idle Item Exchange: Through a “barter” format, idle items were given new life and their value extended. This
session not only promoted resource recycling but also subtly cultivated users’ habits of upcycling waste.

Sustainable Living Proposal: This session focused on sustainable consumption and the principles of product
selection. A “Sustainable Living Proposal Wall” was set up, inviting everyone to brainstorm and write down
specific and small sustainable proposals they were willing to put into practice in their daily lives, transforming
environmental concepts into concrete actions.

Climate Fresk Puzzle Game: This climate puzzle game is a tool for exploring climate change with a scientific
spirit, aiming to raise public awareness of climate change. This salon features a professional facilitator who will
guide participants in group collaborations to help them gain a deeper understanding of the severity of climate
change and its underlying causes, thereby raising participants’ awareness of environmental issues.
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APPENDIX
Key Performance Table
Environmental Key Performance Table

Category Indicator Unit 2025 2024

Greenhouse Gas Emission

Tonnes of carbon dioxide

Direct Emissions (Scope 1)1 0 0
equivalent

Tonnes of carbon dioxide

Indirect Emissions (Scope 2)2 794.03 936.63
equivalent

Tonnes of carbon dioxide

Indirect Emissions (Scope 3)3 912.29 1,002.75
equivalent

Total Greenhouse Gas Emissions Tonnes of carbon dioxide

794.03 936,63
(Scope 1 & 2) equivalent

Greenhouse gas emission intensity Tonnes of carbon dioxide

0.05 0.07
Emission (Scope 1 & 2) equivalent/square meter

Total greenhouse gas emissions Tonnes of carbon dioxide

1,706.32 1,939.38
(Scope 1, 2, and 3) equivalent

Greenhouse gas emission intensity Tonnes of carbon dioxide

0.11 0.14
(Scope 1, 2, and 3) equivalent/square meter

Waste

Non-hazardous waste4 Tonnes 70.00 117.55

Hazardous waste5 Tonnes 0.576 0.09

Non-hazardous waste intensity Kilograms/square meter 4.33 8.39

Hazardous waste intensity Kilograms/square meter 0.035 0.006

1
During the Reporting Period, Zhihu did not consume direct energy such as gasoline, diesel, or natural gas, and therefore had no Scope 1
greenhouse gas emissions.
2
During the Reporting Period, Zhihu’s Scope 2 GHG resulted from the consumption of purchased electricity. We adopted a location-based
calculation method. The calculation method refers to the GHG Protocol: A Corporate Accounting and Reporting Standard,’ The 2025
electricity emission factor is sourced from Announcement on the Release of the 2023 Electricity Carbon Dioxide Emission Factor which were
the latest release by the Ministry of Ecology and Environment of the People’s Republic of China and the National Bureau of Statistics. The
2023 electricity emission factor continues to refer to the Notice on the Management of GHG Emissions Reporting for Power Generation
Sector from 2023 to 2025 as in 2023 ESG report.
3
During the Reporting Period, Zhihu disclosed Scope 3 emissions, covering Category 5 waste generated from operations and Category 6
business travel as per the Corporate Value Chain (Scope 3) Accounting and Reporting Standard . Category 5 covers all non-hazardous and
hazardous waste, while Category 6 includes greenhouse gas emissions from business travel sourced from third-party platforms.
4
During the Reporting Period, the non-hazardous waste generated by Zhihu included office waste, domestic waste, and kitchen waste.
5
During the Reporting Period, the hazardous waste generated by Zhihu included electronic waste and batteries.
6
During the Reporting Period, the disposal of computer equipment increased due to the technology upgrade cycle.
 Environmental, Social and Governance Report 2025 77

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Category Indicator Unit 2025 2024

Energy

Direct energy consumption7 Kilowatt-hours 0 0

Indirect energy consumption: Purchased

Kilowatt-hours 1,361,877.00 1,745,488.00
electricity8

Resource Total energy consumption Kilowatt-hours 1,361,877.00 1,745,488.00

Usage Kilowatt-hours/square
Energy consumption intensity 84.20 124.65
meter

Water consumption

Water consumption9 Tonnes 9729.5 11,149.00

Water consumption density Tonnes/square meter 0.60 0.80

7
During the Reporting Period, Zhihu did not generate direct energy consumption.
8
The purchased electricity data covers all of Zhihu’s operational workplaces, including Beijing, Shanghai, Nanjing, Wuhan, Chengdu, and
Guangzhou.
9
The main sources of total water consumption in Zhihu are municipal water supply and drinking water, and there are no water purchases and
no issues in sourcing water.
78 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Social Key Performance Table

Category Indicator Unit 2025 2024

Number of employees

Total number of employees Persons 1,154 1,887

By employment type

Full-time employees Persons 1,154 1,887

Part-time employees Persons 0 0

By gender

Male employees Persons 496 878

Female employees Persons 658 1,009

By employee level

Senior management level employees Persons 9 11

Mid-level management employees Persons 106 126

Non-management employees Persons 1,039 1,750

By age group

Employees under age of 30 Persons 295 776

Employees aged 30 and above Persons 859 1,111

Employment
By region

Employees based in the Mainland China Persons 1,152 1,885

Employees based in Hong Kong, Macau, Taiwan,

Persons 2 2
China and overseas regions

Employee turnover 10

Total employee turnover rate % 13.0% 26.6%

By gender

Male employee turnover rate % 15.9% 26.9%

Female employee turnover rate % 10.6% 26.5%

By age group

Turnover rate of employees under the age of 30 % 17.9% 37.6%

Turnover rate of employees aged 30 and above % 10.3% 19.0%

By region

Employee turnover rate in the Mainland China % 13.0% 26.6%

Employee turnover rate in Hong Kong, Macau,

% 0.0% 100.0%
Taiwan, China and overseas regions

10
(Number of employees who left during the reporting year/Average number of full-time employees at the beginning and end of the reporting
year) * 100%.
 Environmental, Social and Governance Report 2025 79

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Category Indicator Unit 2025 2024

Percentage of employees trained

By gender

Percentage of male employees trained % 45.6% 47.0%

Percentage of female employees trained % 54.4% 53.0%

By employee level

Percentage of management level employees

% 17.7% 7.4%
trained

Percentage of non-management employees trained % 82.3% 92.6%

Development
and training Average training hours11 Hours 15.6 13.1

By gender

Average training hours for male employees Hours 16.0 13.1

Average training hours for female employees Hours 15.2 13.1

By employee level

Average training hours for management level

Hours 36.1 46.5
employees

Average training hours for non-management

Hours 11.1 10.4
employees

Number of work-related fatalities Persons 0 0

Health and
Work-related fatality rate % 0% 0%
Safety
Lost workdays due to work injuries Days 0 0

Total number of suppliers Units 8,148 7,376

By region
Supply Chain
Management Number of suppliers in the Mainland China Units 8,008 7,244

Number of suppliers in Hong Kong, Macau,

Units 140 132
Taiwan, China and overseas regions

11
Average training hours: Total training hours for this category of employees/Number of employees in this category
80 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Reporting Guide Content Index

Subject Areas, Aspects, General Disclosures and KPIs Corresponding Section

A. Environmental

A1 Emissions

General Disclosure 6.2 Practicing Green

Operations

A1.1 The types of emissions and respective emissions data. N/A

(The group is not involved
in any manufacturing
process.)

A1.3 Total hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g. Environmental Key
per unit of production volume, per facility). Performance Indicators

A1.4 Total non-hazardous waste produced (in tonnes) and, where appropriate, intensity Environmental Key
(e.g. per unit of production volume, per facility). Performance Indicators

A1.5 Description of emissions target(s) set and steps taken to achieve them. 6.2 Practicing Green
Operations

A1.6 Description of how hazardous and non-hazardous wastes are handled, and a 6.2 Practicing Green
description of reduction target(s) set and steps taken to achieve them. Operations

A2 Use of Resources

General Disclosure 6.2 Practicing Green

Operations

A2.1 Direct and/or indirect energy consumption by type (e.g. electricity, gas or oil) in Environmental Key
total (kWh in ’000s) and intensity (e.g. per unit of production volume, per facility) Performance Indicators

A2.2 Water consumption in total and intensity (e.g. per unit of production volume, per Environmental Key
facility) Performance Indicators

A2.3 Description of energy use efficiency target(s) set and steps taken to achieve them. 6.2 Practicing Green
Operations

A2.4 Description of whether there is any issue in sourcing water that is fit for purpose, 6.2 Practicing Green
water efficiency target(s) set and steps taken to achieve them. Operations

A2.5 Total packaging material used for finished products (in tonnes) and, if applicable, N/A
with reference to per unit produced. (The group is not involved
in any manufacturing
process.)

A3 The Environment and Natural Resources

General Disclosure 6.2 Practicing Green

Operations

A3.1 Description of the significant impacts of activities on the environment and natural 6.2 Practicing Green
resources and the actions taken to manage them. Operations
 Environmental, Social and Governance Report 2025 81

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Subject Areas, Aspects, General Disclosures and KPIs Corresponding Section

B. Social

B1 Employment

General Disclosure 3.1 Protecting Employee

Rights and
Supporting Diversity
and Inclusion
3.3 Building a Workplace
with a Sense of
Belonging

B1.1 Total workforce by gender, employment type (for example, full– or part-time), age Social Key Performance
group and geographical region. Indicators

B1.2 Employee turnover rates by gender, age group and region. Social Key Performance
Indicators

B2 Health and Safety

General Disclosure 3.4 Caring for Employee

Health and Safety

B2.1 Number and rate of work-related fatalities occurred in each of the past three 3.4 Caring for Employee
years including the reporting year. Health and Safety

B2.2 Lost days due to work injury. Social Key Performance

Indicators

B2.3 Description of occupational health and safety measures adopted, and how they 3.4 Caring for Employee
are implemented and monitored. Health and Safety

B3 Development and Training

General Disclosure 3.2 Efficient Talent

Echelon Construction

B3.1 The percentage of employees trained by gender and employee category (e.g. Social Key Performance
senior management, middle management). Indicators

B3.2 Average number of hours of training completed per employee by gender and Social Key Performance
employee category. Indicators
82 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Subject Areas, Aspects, General Disclosures and KPIs Corresponding Section

B4 Labor Standards

General Disclosure 3.1 Protecting Employee

Rights and
Supporting Diversity
and Inclusion

B4.1 Description of measures to review employment practices to avoid child and forced 3.1 Protecting Employee
labor. Rights and Supporting
Diversity and Inclusion

B4.2 Description of steps taken to eliminate such practices when discovered. 3.1 Protecting Employee
Rights and Supporting
Diversity and Inclusion

B5 Supply Chain Management

General Disclosure 5.4 Ensuring Responsible

Supply Chain
Management

B5.1 Number of suppliers by geographical region. Social Key Performance

Indicators

B5.2 Description of practices relating to engaging suppliers, number of suppliers where 5.4 Ensuring Responsible
the practices are being implemented, and how they are implemented and Supply Chain
monitored. Management

B5.3 Description of practices used to identify environmental and social risks along the 5.4 Ensuring Responsible
supply chain, and how they are implemented and monitored. Supply Chain
Management

B5.4 Description of practices used to promote environmentally preferable products and 5.4 Ensuring Responsible
services when selecting suppliers, and how they are implemented and monitored. Supply Chain
Management
 Environmental, Social and Governance Report 2025 83

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Subject Areas, Aspects, General Disclosures and KPIs Corresponding Section

B6 Product Responsibility

General Disclosure 01 Creating Community

Value
02 Improve Service
Quality and Create
Responsible Products

B6.1 Percentage of total products sold or shipped subject to recalls for safety and N/A
health reasons. (The group is not involved
in any manufacturing
process.)

B6.2 Number of products and service related complaints received and how they are 2.3 Listening to Users,
dealt with. Optimizing Services

B6.3 Description of practices relating to observing and protecting intellectual property 1.5 Intellectual Property
rights. Rights Protection

B6.4 Description of quality assurance process and recall procedures. N/A

(The group is not involved
in any manufacturing
process.)

B6.5 Description of consumer data protection and privacy policies, and 2.3 Information 2.1 Information Security
Security, how they are implemented and monitored Privacy Protection and Privacy Protection

B7 Anti-corruption

General Disclosure 5.3 Fostering a Fair

Business Environment

B7.1 Number of concluded legal cases regarding corrupt practices brought against the
5.3 Fostering a Fair Business
issuer or its employees during the Reporting Period and the outcomes of the
Environment
cases.

B7.2 Description of preventive measures and whistle-blowing procedures, and how they 5.3 Fostering a Fair Business
are implemented and monitored. Environment

B7.3 Description of anti-corruption training provided to directors and staff. 5.3 Fostering a Fair Business
Environment

B8 Community Investment

General Disclosure 04. Contributing to Social

Value

B8.1 Focus areas of contribution (e.g., education, environmental concerns, labor needs, 04. Contributing to Social
health, culture, sports). Value

B8.2 Resources contributed (e.g., money or time) to the focus areas. 04. Contributing to Social
Value
84 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

19(a) An issuer shall disclose the governance body(s) (which can include a board,
committee or equivalent body charged with governance) or individual(s)
responsible for oversight of climate-related risks and opportunities.
Specifically, the issuer shall identify that body(s) or individual(s) and
disclose information about:
(i) how the body(s) or individual(s) determines whether appropriate
skills and competencies are available or will be developed to
oversee strategies designed to respond to climate-related risks and
opportunities;
(ii) how and how often the body(s) or individual(s) is informed about
climate-related risks and opportunities;
(iii) how the body(s) or individual(s) takes into account climate-related
risks and opportunities when overseeing the issuer’s strategy, its
decisions on major transactions, and its risk management processes
and related policies, including whether the body(s) or individual(s) ESG Governance
has considered trade-offs associated with those risks and Structure
Governance
opportunities; 6.1 Addressing Climate
(iv) how the body(s) or individual(s) oversees the setting of, and Change – Governance
monitors progress towards, targets related to climate-related risks
and opportunities, including whether and how related performance
metrics are included in remuneration policies

19(b) An issuer shall disclose the management’s role in the governance

processes, controls and procedures used to monitor, manage and oversee
climate-related risks and opportunities, including information about:
(i) whether the role is delegated to a specific management-level
position or management-level committee and how oversight is
exercised over that position or committee; and
(ii) whether management uses controls and procedures to support the
oversight of climate-related risks and opportunities and, if so, how
these controls and procedures are integrated with other internal
functions.

20 An issuer shall disclose information to enable an understanding of climate-

related risks and opportunities that could reasonably be expected to affect
the issuer’s cash flows, its access to finance or cost of capital over the
short, medium or long term. Specifically, the issuer shall:
(a) describe climate-related risks and opportunities that could
reasonably be expected to affect the issuer’s cash flows, its access
to finance or cost of capital over the short, medium or long term;
(b) explain, for each climate-related risk the issuer has identified,
6.1 Addressing Climate
Strategy whether the issuer considers the risk to be a climate-related
Change – Strategy
physical risk or climate-related transition risk;
(c) specify, for each climate-related risk and opportunity the issuer has
identified, over which time horizons – short, medium or long term
– the effects of each climate-related risk and opportunity could
reasonably be expected to occur; and
(d) explain how the issuer defines ‘short term’, ‘medium term’ and
‘long term’ and how these definitions are linked to the planning
horizons used by the issuer for strategic decision-making
 Environmental, Social and Governance Report 2025 85

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

21 An issuer shall disclose information that enables an understanding of the

current and anticipated effects of climate-related risks and opportunities
on the issuer’s business model and value chain. Specifically, the issuer shall
disclose:
(a) a description of the current and anticipated effects of climate- 6.1 Addressing Climate
related risks and opportunities on the issuer’s business model and Change – Strategy
value chain; and
(b) a description of where in the issuer’s business model and value
chain climate-related risks and opportunities are concentrated (for
example, geographical areas, facilities and types of assets).

22(a) An issuer shall disclose information that enables an understanding of the

effects of climate-related risks and opportunities on its strategy and
decision-making. Specifically, the issuer shall disclose information about
how the issuer has responded to, and plans to respond to, climate-related
risks and opportunities in its strategy and decision-making, including how
the issuer plans to achieve any climate-related targets it has set and any
targets it is required to meet by law or regulation. Specifically, the issuer
shall disclose information about:
(i) current and anticipated changes to the issuer’s business model,
including its resource allocation, to address climate-related risks
6.1 Addressing Climate
and opportunities;
Change – Strategy
(ii) current and anticipated adaptation and mitigation efforts (whether
direct or indirect);
(iii) any climate-related transition plan the issuer has (including
information about key assumptions used in developing its transition
plan, and dependencies on which the issuer’s transition plan relies),
or an appropriate negative statement where the issuer does not
have a climate-related transition plan; and
(iv) how the issuer plans to achieve any climate-related targets
(including any greenhouse gas emissions targets (if any)), described
in accordance with paragraphs 37 to 40;

22(b) An issuer shall disclose information about how the issuer is resourcing, and
6.1 Addressing Climate
plans to resource, the activities disclosed in accordance with paragraph
Change – Strategy
22(a).

23. An issuer shall disclose information about the progress of plans disclosed 6.1 Addressing Climate
in previous reporting periods in accordance with paragraph 22(a). Change – Strategy
86 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

24 An issuer shall disclose qualitative and quantitative information about:

(a) An issuer shall disclose qualitative and quantitative information
about how climate-related risks and opportunities have affected its
financial position, financial performance and cash flows for the
reporting period;
(b) An issuer shall disclose qualitative and quantitative information
about the climate-related risks and opportunities identified in
paragraph 24(a) for which there is a significant risk of a material
adjustment within the next annual reporting period to the carrying
amounts of assets and liabilities reported in the related financial 6.1 Addressing Climate
statements. Change – Strategy
Financial effects relief
25(a) The issuer shall provide qualitative and quantitative disclosures about how adopted for quantitative
the issuer expects its financial position to change over the short, medium information.
and long term, given its strategy to manage climate-related risks and
opportunities, taking into consideration:
(i) its investment and disposal plans; and
(ii) its planned sources of funding to implement its strategy;

25(b) The issuer shall provide qualitative and quantitative disclosures about how
the issuer expects its financial performance and cash flows to change over
the short, medium and long term, given its strategy to manage climate-
related risks and opportunities.

26(a) An issuer shall disclose information that enables an understanding of the

resilience of the issuer’s strategy and business model to climate-related
changes, developments and uncertainties, taking into consideration the
issuer’s identified climate-related risks and opportunities. An issuer shall
use climate-related scenario analysis to assess its climate resilience using an
approach that is commensurate with an issuer’s circumstances. In providing
quantitative information, the issuer may disclose a single amount or a
6.1 Addressing Climate
range. Specifically, the issuer shall disclose the issuer’s assessment of its
Change – Strategy
climate resilience as at the reporting date, which shall enable an
Capabilities relief
understanding of:
adopted for climate-
(i) the implications, if any, of the issuer’s assessment for its strategy
related scenario analysis
and business model, including how the issuer would need to
respond to the effects identified in the climate-related scenario
analysis;
(ii) the significant areas of uncertainty considered in the issuer’s
assessment of its climate resilience; and
(iii) the issuer’s capacity to adjust, or adapt its strategy and business
model to climate change over the short, medium or long term;
 Environmental, Social and Governance Report 2025 87

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

26(b) An issuer shall disclose how and when the climate-related scenario analysis
was carried out, including:
(i) information about the inputs used, including:
1) which climate-related scenarios the issuer used for the
analysis and the sources of such scenarios;
2) whether the analysis included a diverse range of climate-
related scenarios;
3) whether the climate-related scenarios used for the analysis
are associated with climate-related transition risks or
climate-related physical risks; 6.1 Addressing Climate
4) whether the issuer used, among its scenarios, a climate- Change – Strategy
related scenario aligned with the latest international Capabilities relief
agreement on climate change; adopted for climate-
5) why the issuer decided that its chosen climate-related related scenario analysis
scenarios are relevant to assessing its resilience to climate-
related changes, developments or uncertainties;
6) time horizons the issuer used in the analysis; and
7) what scope of operations the issuer used in the analysis (for
example, the operation, locations and business units used in
the analysis);
(ii) the key assumptions the issuer made in the analysis; and
(iii) the reporting period in which the climate-related scenario analysis
was carried out.
88 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

27(a) An issuer shall disclose information about the processes and related
policies it uses to identify, assess, prioritise and monitor climate-related
risks, including information about:
(i) the inputs and parameters the issuer uses (for example, information
about data sources and the scope of operations covered in the
processes);
(ii) whether and how the issuer uses climate-related scenario analysis
to inform its identification of climate-related risks;
(iii) how the issuer assesses the nature, likelihood and magnitude of the
effects of those risks (for example, whether the issuer considers
qualitative factors, quantitative thresholds or other criteria);
(iv) whether and how the issuer prioritises climate-related risks relative
to other types of risks; 6.1 Addressing Climate
Risk
(v) how the issuer monitors climate-related risks; and Change – Risk
Management
(vi) whether and how the issuer has changed the processes it uses Management
compared with the previous reporting period

27(b) An issuer shall disclose information about the processes the issuer uses to
identify, assess, prioritise and monitor climate-related opportunities
(including information about whether and how the issuer uses climate-
related scenario analysis to inform its identification of climate-related
opportunities);

27(c) An issuer shall disclose information about the extent to which, and how,
the processes for identifying, assessing, prioritising and monitoring
climate-related risks and opportunities are integrated into and inform the
issuer’s overall risk management process.
 Environmental, Social and Governance Report 2025 89

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

28 An issuer shall disclose its absolute gross greenhouse gas emissions

generated during the reporting period, expressed as metric tons of CO2
equivalent, classified as: Environmental Key
(a) Scope 1 greenhouse gas emissions; Performance Indicators
(b) Scope 2 greenhouse gas emissions; and
(c) Scope 3 greenhouse gas emissions.

29 An issuer shall:
(a) measure its greenhouse gas emissions in accordance with the
Greenhouse Gas Protocol: A Corporate Accounting and Reporting
Standard (2004) unless required by a jurisdictional authority or
another exchange on which the issuer is listed to use a different
method for measuring greenhouse gas emissions;
(b) disclose the approach it uses to measure its greenhouse gas
emissions including: (i) the measurement approach, inputs and
assumptions the issuer uses to measure its greenhouse gas
emissions; (ii) the reason why the issuer has chosen the
measurement approach, inputs and assumptions it uses to measure
its greenhouse gas emissions; and (iii) any changes the issuer made
Environmental Key
Metrics and to the measurement approach, inputs and assumptions during the
Performance Indicators
Target reporting period and the reasons for those changes;
(c) for Scope 2 greenhouse gas emissions disclosed in accordance with
paragraph 28(b), disclose its location-based Scope 2 greenhouse
gas emissions, and provide information about any contractual
instruments that is necessary to enable an understanding of the
issuer’s Scope 2 greenhouse gas emissions; and
(d) for Scope 3 greenhouse gas emissions disclosed in accordance with
paragraph 28(c), disclose the categories included within the issuer’s
measure of Scope 3 greenhouse gas emissions, in accordance with
the Scope 3 categories described in the Greenhouse Gas Protocol
Corporate Value Chain (Scope 3) Accounting and Reporting
Standard (2011)

30 An issuer shall disclose the amount and percentage of assets or business Reasonable Information
activities vulnerable to climate-related transition risks. Relief Adopted

31 An issuer shall disclose the amount and percentage of assets or business Reasonable Information
activities vulnerable to climate-related physical risks. Relief Adopted

32 An issuer shall disclose the amount and percentage of assets or business Reasonable Information
activities aligned with climate-related opportunities. Relief Adopted
90 Zhihu Inc.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

33 An issuer shall disclose the amount of capital expenditure, financing or

investment deployed towards climate-related risks and opportunities.

34 An issuer shall disclose:

(a) an explanation of whether and how the issuer is applying a carbon
price in decision-making (for example, investment decisions,
transfer pricing, and scenario analysis); and
(b) the price of each metric tonne of greenhouse gas emissions the
issuer uses to assess the costs of its greenhouse gas emissions; or
an appropriate negative statement that the issuer does not apply a
carbon price in decision-making.
6.1 Addressing Climate
35 An issuer shall disclose whether and how climate-related considerations are Change – Metrics and
factored into remuneration policy, or an appropriate negative statement. Target
This may form part of the disclosure under paragraph 19(a)(iv).

36 An issuer is encouraged to disclose industry-based metrics that are

associated with one or more particular business models, activities or other
common features that characterise participation in an industry. In
determining the industry-based metrics that the issuer discloses, an issuer
is encouraged to refer to and consider the applicability of the industry-
based metrics associated with disclosure topics described in the IFRS S2
Industry-based Guidance on implementing Climate-related Disclosures and
other industry-based disclosure requirements prescribed under other
international ESG reporting frameworks

37 An issuer shall disclose (a) the qualitative and quantitative climate-related

targets the issuer has set to monitor progress towards achieving its
strategic goals; and (b) any targets the issuer is required to meet by law or
regulation, including any greenhouse gas emissions targets. For each
target, the issuer shall disclose:
(a) the metric used to set the target;
(b) the objective of the target (for example, mitigation, adaptation or
conformance with science-based initiatives);
(c) the part of the issuer to which the target applies (for example, 6.1 Addressing Climate
whether the target applies to the issuer in its entirety or only a part Change – Metrics and
of the issuer, such as a specific business unit or geographic region); Target
(d) the period over which the target applies;
(e) the base period from which progress is measured;
(f) milestones or interim targets (if any);
(g) if the target is quantitative, whether the target is an absolute target
or an intensity target; and
(h) how the latest international agreement on climate change,
including jurisdictional commitments that arise from that
agreement, has informed the target.
 Environmental, Social and Governance Report 2025 91

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

Corresponding
Part D: Climate-related Disclosures
Section

38 An issuer shall disclose information about its approach to setting and

reviewing each target, and how it monitors progress against each target,
including:
(a) whether the target and the methodology for setting the target has
been validated by a third party;
(b) the issuer’s processes for reviewing the target;
(c) the metrics used to monitor progress towards reaching the target;
and
(d) any revisions to the target and an explanation for those revisions

39 An issuer shall disclose information about its performance against each

climate-related target and an analysis of trends or changes in the issuer’s
performance.

40 For each greenhouse gas emissions target disclosed in accordance with

paragraphs 37 to 39, an issuer shall disclose:
(a) which greenhouse gases are covered by the target;
(b) whether Scope 1, Scope 2 or Scope 3 greenhouse gas emissions are
covered by the target;
(c) whether the target is a gross greenhouse gas emissions target or a
net greenhouse gas emissions target. If the issuer discloses a net
greenhouse gas emissions target, the issuer is also required to 6.1 Addressing Climate
separately disclose its associated gross greenhouse gas emissions Change – Metrics and
target; Target
(d) whether the target was derived using a sectoral decarbonisation
approach; and
(e) the issuer’s planned use of carbon credits to offset greenhouse gas
emissions to achieve any net greenhouse gas emissions target. In
explaining its planned use of carbon credits, the issuer shall
disclose: (i) the extent to which, and how, achieving any net
greenhouse gas emissions target relies on the use of carbon credits;
(ii) which third-party scheme(s) will verify or certify the carbon
credits; (iii) the type of carbon credit, including whether the
underlying offset will be nature-based or based on technological
carbon removals, and whether the underlying offset is achieved
through carbon reduction or removal; and (iv) any other factors
necessary to enable an understanding of the credibility and integrity
of the carbon credits the issuer plans to use (for example,
assumptions regarding the permanence of the carbon offset).

41 In preparing disclosures to meet the requirements in paragraphs 21 to 26

and 37 to 38, an issuer shall refer to and consider the applicability of
cross-industry metrics (see paragraphs 28 to 35) and (ii) industry-based
metrics (see paragraph 36).
92 Zhihu Inc.

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