Zhihu Inc. filed a next day disclosure return with HKEX stating that it repurchased 94,272 Class A ordinary shares on 20 February 2026 on the New York Stock Exchange for cancellation, paying between US$1.15 and US$1.1867 per share for an aggregate US$110,653.78. The filing also noted the buyback corresponded to 31,424 ADS repurchased at an average price of US$3.5213 per ADS, with each ADS representing three Class A shares.
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