Zhihu Maintains Share Capital While 6.34 Million Class A Shares Await Cancellation Following Buyback Programme

Bulletin Express06-29

On 29 June 2026, Zhihu Inc. released its latest Next Day Disclosure Return, confirming that the company’s issued share capital remained unchanged at 250.91 million Class A ordinary shares as of 26 June 2026. Including 15.23 million Class B shares, total outstanding stock stands at 266.14 million shares.

Between 1 April and 26 June 2026, Zhihu repurchased 6.34 million Class A shares designated for cancellation, equal to approximately 2.38% of the company’s total share base. Public filings show repurchase prices ranging from USD 0.98 to USD 1.28 per share, implying total cash outflows of about USD 7.06 million and a volume-weighted average price of roughly USD 1.11 per share.

The most recent transaction occurred on 26 June 2026, when Zhihu bought 5,100 Class A shares (equivalent to 1,700 ADSs) on the New York Stock Exchange at USD 0.9833 per share, for a consideration of USD 0.01 million. These shares are also intended for cancellation.

Aggregate repurchases under the shareholder mandate approved on 25 June 2025 have now reached 10.06 million shares, utilising 38.26% of the 26.30 million-share authorisation. In accordance with Hong Kong listing rules, Zhihu is subject to a moratorium on issuing new shares or selling treasury shares until 26 July 2026.

The company stated that all repurchases complied with both Hong Kong and U.S. regulatory requirements and that there have been no material changes to the explanatory statement relating to the mandate.

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