Zhihu Inc. (ZHIHU) filed a Next Day Disclosure Return with the Hong Kong Stock Exchange on 9 September 2026, detailing the status of its ongoing share repurchase programme and confirming no change in total issued share capital.
Key disclosures
1. Share Capital • Issued shares (excluding treasury shares) at both 31 August and 8 September 2026 stood at 244.79 million Class A ordinary shares. • Including 14.86 million Class B ordinary shares, total issued share capital remained 259.65 million shares.
2. Cumulative Repurchases since 1 July 2026 • Zhihu has repurchased 4.58 million Class A shares under the mandate approved on 30 June 2026. • The cumulative repurchases represent 1.80 % of the company’s issued shares (excluding treasury shares) as at the mandate date. • The authority permits buybacks of up to 25.46 million shares, leaving a capacity of roughly 20.89 million shares.
3. Latest Transaction (8 September 2026, U.S. time) • Venue: New York Stock Exchange (via American Depositary Shares). • Volume: 3,500 ADS, equivalent to 10,500 Class A shares. • Price range: USD 0.8733–0.9033 per Class A share (USD 2.6577 per ADS). • Aggregate consideration: USD 9,302. • All repurchased shares are intended for cancellation.
4. Shares Awaiting Cancellation • As of 8 September 2026, 4.44 million Class A shares bought between 1 July and 8 September remain to be cancelled; they are still included in the issued share count.
5. Issuance Moratorium • In line with Main Board Rule 10.06(3)(a), Zhihu is restricted from issuing new shares or selling treasury shares until 8 October 2026.
The company confirmed that all repurchases complied with Hong Kong listing rules and U.S. securities regulations, and that no material changes have occurred to the repurchase mandate’s explanatory statement filed on 8 June 2026.
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