ZH · Zhihu Inc.

Zhihu Inc. continues its share repurchase program authorized by shareholders on June 25, 2025, permitting up to 26,300,429 shares. The company has actively repurchased WVR Class A ordinary shares corresponding to ADS transactions on the New York Stock Exchange, with disclosures covering transactions from January 2026 through April 16, 2026. Recent activity shows accelerated repurchases in April: 365,856 shares on April 10 (USD 399,334.9 aggregate), 341,901 on April 13 (USD 371,447.03), 347,052 on April 14 (USD 394,263.57), 230,343 on April 15 (USD 271,580.83), and 366,780 on April 16 (USD 449,137.51). These represent 0.127% to 0.136% of pre-event issued shares each. Cumulative repurchases total 7,155,567 shares or 2.721% of shares outstanding at mandate approval, leaving substantial authorization remaining. No treasury shares held; all are for cancellation, maintaining issued share count at 254,416,106 (Class A) excluding treasury. Total issued shares are 269,862,884 including 15,446,778 Class B shares. Repurchases comply with HKEX Main Board Rules 13.25A and 10.06(4)(a), with 30-day moratorium on new share issuances post each transaction. This signals management confidence in valuation amid ongoing buyback execution.