Zhihu Completes 6.00 Million-Share Buyback, Equal to 2.26 % of Capital; No Change in Issued Shares Reported

Bulletin Express06-23

On 23 June 2026, Zhihu Inc. (abbrev. “Zhihu”) filed its Next Day Disclosure Return with the Hong Kong Stock Exchange. The company confirmed that its issued share capital stood unchanged at 250.91 million Class A ordinary shares and 15.23 million Class B ordinary shares, totalling 266.14 million shares. No treasury shares were outstanding.

Between 1 April and 22 June 2026, Zhihu repurchased 5.99 million Class A shares for cancellation, equating to approximately 2.26 % of the company’s pre-buyback issued share base. All purchases were executed on the New York Stock Exchange in the form of American depositary shares (ADSs), with one ADS representing three Class A shares.

Repurchase prices ranged between USD 0.94 and USD 1.28 per Class A share. The most recent transaction, dated 22 June 2026, involved 25,129 ADS (75,387 Class A shares) at an average price of USD 3.09 per ADS (USD 1.03 per share), costing USD 0.08 million and lifting total buyback spending on record to USD 77.53 million.

Under the shareholder mandate granted on 25 June 2025, Zhihu is authorised to repurchase up to 26.30 million shares. After the latest activity, 9.72 million shares—representing 3.70 % of the mandate—have been utilised, leaving capacity for a further 16.58 million shares. In accordance with HKEX rules, the company is subject to a moratorium on new share issues or treasury-share sales until 22 July 2026.

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