FAST NEWS: Zhihu Posts 10% Third-Quarter Revenue Growth, But Loss Also Widens

The Latest: Online Q&A site Zhihu Inc. (ZH.US; 2390.HK) reported on Wednesday that its third-quarter revenue increased 10.7% year-on-year to 911.7 million yuan ($128.2 million), while its net loss widened 10% to 300.2 million yuan. Looking Up: Paid membership was a major growth driver for the company, with revenue of 335.4 million yuan, up 88.1% year-on-year. Average monthly paying members reached 10.9 million, up by an even stronger 99.5%. Take Note: Advertising revenue, which used to be Zhihu’s main revenue source, fell 63.2% year-on-year to 196.7 million, which the company…

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Loss-hit Fenbi Tech Seeks IPO Cash After Education Sector Upheaval

The slimmed-down provider of tutoring for civil service exams and vocational training has filed to list on the Hong Kong Stock Exchange for the second time Key Takeaways: Fenbi Technology has posted losses of more than 2.5 billion yuan in the past two years after shifting from online into offline training The company laid off more than 9,400 employees and cut staff salaries to ease financial pressure By Fai Pui A year after a tutoring crackdown shattered China’s prosperous education sector, the still viable pieces of the business are seeking…

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