Zhihu Inc. (ZH) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.039 Ladies and gentlemen, thank you for standing by and welcome to the Jehu Inc. 00:00:05.039 -- 00:00:10.788 fourth quarter and full year 2025 financial results conference call. 00:00:10.788 -- 00:00:15.154 At this time, all participants are in a listen-only mode. 00:00:15.154 -- 00:00:19.161 After the speaker's presentation, there will be a Q&A session. 00:00:19.161 -- 00:00:24.068 Today's conference is being recorded and webcasted. 00:00:24.068 -- 00:00:28.752 At this time, I would like to turn the conference over to Yolande Leo. 00:00:28.752 -- 00:00:34.576 Head of IR and Capital Markets. Please go ahead, madam. 00:00:35.098 -- 00:00:40.584 Thank you, Heidi. Hello, everyone. Welcome to JUHU's 2025 Fourth 00:00:40.584 -- 00:00:44.368 Quarter and Full Year Financial Results Conference Call. 00:00:44.368 -- 00:00:48.472 Joining me today on the call from Senior Management Team are Mr. 00:00:48.472 -- 00:00:53.457 Zhou Yuan, Founder, Chairman, and Chief Executive Officer, and Mr. 00:00:53.457 -- 00:00:58.499 Wang Han, Chief Financial Officer. Before we begin, I'd like to remind you 00:00:58.499 -- 00:01:03.507 that today's discussion will include forward-looking statements made under the safe harbor 00:01:03.507 -- 00:01:08.534 provisions of the U.S. Private Security Legation Reform 00:01:08.534 -- 00:01:10.677 Act of 1995. 00:01:10.677 -- 00:01:14.943 These statements involve inherent risks and uncertainties. 00:01:14.943 -- 00:01:20.727 As such, actual results may be materially different from the views expressed today. 00:01:20.727 -- 00:01:25.914 Further information regarding these and other risks and uncertainties is included 00:01:25.914 -- 00:01:30.961 in our public filings with the U.S. Securities and Exchange Commission 00:01:30...