Zhihu's stock (ZH) surged 23.38% in the intraday session on Monday, marking a significant uptick as the company continues its share repurchase program.

The rally follows Zhihu's recent filing with the U.S. Securities and Exchange Commission, detailing its share buyback activities under a Hong Kong mandate. Earlier this month, the company repurchased 99,000 of its shares for $116,600, a move often seen as a vote of confidence by management in the company's valuation and growth prospects. Such buybacks typically reduce the number of shares available in the market, increasing demand and driving up prices.