Zhihu Inc. (ZHIHU-W) has provided a Next Day Disclosure Return detailing the progress of its ongoing share repurchase programme and the latest share capital position as of 01 April 2026.
Issued share capital • The company’s outstanding Class A ordinary shares stood unchanged at 254.42 million between 31 March and 01 April 2026. • Including 15.45 million Class B ordinary shares, the total issued share base used for percentage calculations is 269.86 million shares.
Buyback activity and cumulative impact • From 02 January to 01 April 2026, Zhihu repurchased 4.05 million Class A shares for cancellation, equal to 1.50 % of its total issued shares. • The latest tranche, executed on 01 April 2026 on the New York Stock Exchange, involved 328,488 Class A shares (109,496 ADS), bought at prices ranging from USD 0.92 to USD 0.94 per share, for an aggregate USD 0.31 million (average price ~USD 0.94). • All 4.05 million repurchased shares are pending cancellation; none are being held as treasury shares.
Repurchase mandate utilisation • The current mandate, approved on 25 June 2025, authorises buybacks of up to 26.30 million shares. • After the 4.05 million shares already repurchased, 22.25 million, or 84.6 % of the authorised limit, remain available. • In accordance with Hong Kong listing rules, Zhihu is subject to a moratorium on issuing new shares or selling treasury shares until 01 May 2026.
Regulatory compliance The board confirms that all repurchases were conducted in line with the Hong Kong Stock Exchange Main Board Rules and applicable U.S. exchange regulations, with full receipt of consideration and no material changes to the previously filed explanatory statement.
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