Zhihu Inc. reported in its Next Day Disclosure Return that the company’s issued share capital remained unchanged at 244.79 million Class A ordinary shares as of 24 September 2026. Including 14.86 million Class B ordinary shares, total issued shares stand at 259.65 million.
Share repurchases • Between 1 July and 24 September 2026, Zhihu bought back 6.11 million Class A shares under its existing 10 % buy-back mandate approved on 30 June 2026. The cumulative repurchases represent 2.40 % of the company’s outstanding shares on the mandate date. • On 24 September 2026 (U.S. time), the company repurchased 17,700 Class A shares on the New York Stock Exchange at prices ranging from USD 1.1667 to USD 1.1967 per share, for a total consideration of USD 21,081.84. • All repurchased shares are designated for cancellation; none will be held as treasury shares.
Capital structure • Opening and closing balances for Class A ordinary shares on 23–24 September 2026: 244.79 million; no issuance or cancellation occurred during the period covered. • Shares repurchased but pending cancellation after 24 September 2026 amount to 5.97 million, with individual daily buy-backs priced mostly between USD 1.02 and USD 1.19 per share.
Mandate capacity and restrictions • The company is authorised to repurchase up to 25.46 million shares under the current mandate; 19.35 million shares remain available. • In accordance with Hong Kong Listing Rules, Zhihu is restricted from issuing new shares or disposing of treasury shares until 24 October 2026.
Compliance statement Zhihu confirmed that all repurchases complied with Hong Kong Main Board Rule 10.06 and the applicable regulations of the New York Stock Exchange, with no material changes to the Explanatory Statement dated 8 June 2026.
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