Zhihu Inc. (Zhihu) filed a Next Day Disclosure Return with the Hong Kong Stock Exchange on 12 October 2026, detailing its latest share movements and repurchase activities.
Key highlights
• Issued share capital unchanged – Between 8 and 9 October 2026 the company’s issued share count remained flat at 244.79 million Class A ordinary shares. Total issued shares (Class A plus Class B) stood at 259.65 million.
• Intensified buyback program – On 9 October 2026 Zhihu repurchased 194,253 Class A ordinary shares on the New York Stock Exchange at prices ranging from USD 1.1567 to USD 1.1667, for a total outlay of USD 225,632.29. The transaction equates to 64,751 American depositary shares (ADSs), with each ADS representing three Class A shares.
• Cumulative repurchases – Since the current mandate was approved on 30 June 2026, Zhihu has bought back 8.15 million shares, equal to 3.2 % of the 260.97 million issued shares outstanding on the mandate date. The authorization permits repurchases of up to 25.46 million shares, indicating that roughly 32 % of the limit has been utilized.
• Pending cancellations – All repurchased shares are slated for cancellation; none are being held as treasury stock. As of the 9 October 2026 record date, 194 discrete buyback lots executed between 1 July and 9 October remain outstanding for cancellation but have yet to reduce the issued share total.
• 30-day issuance moratorium – In line with Main Board Rule 10.06(3)(a), Zhihu cannot issue new shares—or transfer any treasury shares—until 8 November 2026, 30 days after the most recent repurchase.
Regulatory confirmations
The company affirmed that all transactions complied with both Hong Kong listing rules and U.S. regulations governing purchases on the New York Stock Exchange.
The disclosure underscores Zhihu’s continued commitment to capital return despite no immediate reduction in issued share capital until formal cancellation of the repurchased stock is completed.
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