Zhihu Inc. (ZH) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.097 The company does not assume any obligation to update any forward-looking statements, 00:00:05.097 -- 00:00:10.484 except as required under the actual law. Additionally, the discussion today 00:00:10.484 -- 00:00:16.212 will include both GAAP and non-GAAP financial measures for a compilation purpose only. 00:00:16.212 -- 00:00:22.259 For reconciliation of these non-GAAP measures to the most directly comparable GAAP measures, 00:00:22.259 -- 00:00:27.115 please refer to our earnings release issued earlier today. 00:00:27.115 -- 00:00:33.821 A webcast replay of this conference call will be available on our IR website at ir.jufu.com. 00:00:34.124 -- 00:00:39.190 This quarter, Victor Zhou, Zhou Yun's AI agent, will once again deliver the prepared 00:00:39.190 -- 00:00:44.517 remarks in English on his behalf. Victor is due in training, so we appreciate 00:00:44.517 -- 00:00:49.563 your patience as he continues to improve. Victor, please go 00:00:49.563 -- 00:00:51.563 ahead. 00:00:55.430 -- 00:00:57.980 Thank you, Yolanda. 00:00:57.980 -- 00:01:03.745 Hello everyone, and thank you for joining Zhihu third quarter 2025 00:01:03.808 -- 00:01:08.994 earnings call. I am Victor Zhou, and I am pleased to deliver today's 00:01:08.994 -- 00:01:14.481 opening remarks on behalf of Mr. Zhou Yuan, founder, 00:01:14.481 -- 00:01:19.528 chairman, and CEO of Zhihu. The third quarter marked another 00:01:19.528 -- 00:01:25.503 meaningful step toward our goal of achieving non-gap breakeven on a full year basis. 00:01:25.503 -- 00:01:30.630 As our structural optimization initiatives continue to take effect, we 00:01:30.630 -- 00:01:35.797 further refined our service offerings and balanced commercialization with community health. 00:01:35.797 -- 00:01:41.48...