Caixin News Agency, November 26th - Zhihu (02390/ZH) announced the renewal of multiple framework agreements with Tencent Computer and Shanghai Yueting. The announcement mentioned that the existing Tencent Framework Agreement and Reading Framework Agreement will expire on December 31, 2024. The board of directors has decided to sign the 2025 Tencent Framework Agreement with Tencent Computer and the 2025 Reading Framework Agreement with Shanghai Yueting on November 26, 2024. These agreements will come into effect on January 1, 2025, for a period of three years.
According to the Tencent Framework Agreement 2025, Zhihu will provide marketing services and cloud technology services to Tencent, with annual caps of 58.5 million yuan, 73 million yuan, and 91 million yuan respectively. The historical transaction amount shows that the marketing services provided in the past two years amounted to 23.4 million yuan and 24.3 million yuan respectively. In addition, the historical transaction amounts of cloud services are 133 million yuan and 19.9 million yuan. The 2025 Yuewen Framework Agreement stipulates that the annual maximum amount paid by the company to Yuewen Group is 13 million yuan, 16 million yuan, and 20 million yuan, with historical transaction amounts of 5.1 million yuan, 8.9 million yuan, and 3.4 million yuan.
In addition, Zhihu has also signed a payment service framework agreement with Tencent Computer. Tencent will provide payment services from December 1, 2024 to December 31, 2026, with annual caps of 5 million yuan, 10 million yuan, and 13 million yuan. The board of directors believes that the above transaction terms are fair and reasonable, and in line with the overall interests of the company.