Zhihu Inc. (Zhihu-W) filed a Next Day Disclosure Return with the Hong Kong Stock Exchange on 1 April 2026, confirming that the company’s issued share capital remained unchanged at 254.42 million Class A ordinary shares and 15.45 million Class B ordinary shares as of 31 March 2026, for a combined 269.86 million shares.
Between 2 January and 31 March 2026, the company repurchased 3.72 million Class A shares intended for cancellation, equal to 1.42% of the share count approved under the existing buyback mandate. Repurchase prices ranged from USD 0.88 to USD 1.27 per share (volume-weighted basis not disclosed).
The most recent transaction occurred on 31 March 2026 on the New York Stock Exchange, where 245,118 Class A shares were bought back at USD 0.92–0.95 per share, costing USD 0.23 million. These shares correspond to 81,706 ADSs, each representing three Class A shares.
Zhihu’s current authorisation, granted on 25 June 2025, permits the repurchase of up to 26.30 million shares. After the latest series of transactions, 3.72 million shares—14.16% of the mandate—have been executed. Under Hong Kong listing rules, the company is subject to a moratorium on issuing new shares until 30 April 2026 following the buyback activity.
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