Zhihu Repurchases 3.29 Million Class A Shares, Utilising 13% of 2026 Buy-back Mandate

Bulletin Express08-12

Zhihu Inc. (abbrev. Zhihu) disclosed on 12 August 2026 that it has bought back 3.29 million Class A ordinary shares between 1 July and 11 August 2026. The repurchased shares, which are yet to be cancelled, represent 1.29 % of the company’s 259.65 million issued shares (244.79 million Class A; 14.86 million Class B).

Key details

1. Scale of buy-back • Cumulative shares repurchased under the current mandate: 3.29 million • Authorised limit (approved 30 June 2026): 25.46 million shares • Utilisation rate: 12.93 %

2. Latest transaction (11 August 2026, NYSE) • Volume: 95,079 shares (equivalent to 31,693 ADS) • Price range: USD 1.0967 – USD 1.1067 per share (USD 3.3044 per ADS) • Cash outlay: USD 0.10 million

3. Programme economics* • Volume-weighted average price for all repurchases (1 July–11 August): ~USD 1.03 per share • Estimated aggregate spend to date: ~USD 3.40 million

4. Capital structure impact • Issued share capital remains at 244.79 million Class A shares and 14.86 million Class B shares until the repurchased shares are formally cancelled. • No treasury shares are being held.

5. Regulatory timetable • Under Hong Kong listing rules, Zhihu is barred from issuing new shares or transferring treasury shares until 10 September 2026.

*Calculation based on disclosed daily volumes and volume-weighted prices in the filing.

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