Zhihu Inc. (NYSE:ZH) announces an Equity Buyback for 31,960,198 shares, representing 10% of its issued share capital, under the authorization approved on June 30, 2023.

Zhihu Inc. (NYSE:ZH) commences share repurchases on July 3, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 30, 2023. As per the mandate, the company is authorized to repurchase up to 31,960,198 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company.

The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations of Cayman Islands. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of June 30, 2023, the company had 319,601,988 shares in issue comprising 300,755,702 Class A Ordinary Shares (including the 3,175,879 Class A Ordinary Shares issued to the Depositary for bulk issuance of ADSs reserved for future issuances upon the exercise or vesting of awards granted under the share incentive plans of the company (“Bulk Issuance Shares”) and 18,846,286 Class B ordinary shares.