The buyback pace has accelerated in September 2026 — daily repurchase volume averaged 135,716 shares vs. ~105,000 in prior months. Monitor whether the company continues at this pace or slows as the 30-day moratorium periods (up to October 17, 2026) expire.
Price Chart
Executive Summary
Zhihu Inc. filed a 6-K with five Next Day Disclosure Returns covering daily share repurchases on the NYSE from September 11-17, 2026, for cancellation. The company repurchased a total of 678,579 Class A ordinary shares (226,193 ADSs) over five trading days at aggregate prices totaling approximately $667,281. This continues the buyback program authorized on June 30, 2026, under which 5,510,955 shares (2.164% of issued shares) have been repurchased as of September 17, 2026.
Key Facts
- Zhihu repurchased 678,579 Class A ordinary shares (226,193 ADSs) on the NYSE from September 11-17, 2026, for cancellation.
- Aggregate repurchase prices totaled approximately $667,281 across the five trading days.
- As of September 17, 2026, cumulative repurchases under the June 30, 2026 mandate reached 5,510,955 shares, or 2.164% of issued shares.
- The repurchase mandate authorizes up to 25,461,758 shares (10% of issued shares as of June 30, 2026).
- No change in total issued shares outstanding — Class A ordinary shares remained at 244,789,786 throughout the period.
- The 20-F annual report (20-F) filed April 17, 2026 showed a 23.6% revenue decline to $393.1 million and a $27.9 million net loss.
Financial Impact
Approximately $667,281 in aggregate share repurchases over five trading days, representing 0.26% of the Class A share count per day.
Risk Factors
- Revenue declined 23.6% in FY2025 per the 20-F — buybacks do not offset declining fundamentals.
- Net loss of $27.9 million in FY2025 indicates ongoing cash burn; buybacks consume cash without improving operations.
Investment Themes
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001104659-26-109032 |
| Document: tm2625810d1_ex99-4.htm | 0001104659-26-109032 |
| Document: tm2625810d1_ex99-3.htm | 0001104659-26-109032 |
| Document: tm2625810d1_ex99-2.htm | 0001104659-26-109032 |
| Document: tm2625810d1_ex99-1.htm | 0001104659-26-109032 |
| Document: tm2625810d1_6k.htm | 0001104659-26-109032 |
| Document: 0001104659-26-109032-index-headers.html | 0001104659-26-109032 |
| Document: 0001104659-26-109032-index.html | 0001104659-26-109032 |
| Document: 0001104659-26-109032.txt | 0001104659-26-109032 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 6-K | $3.46 | awaiting T+20 | — | $3.34 (−3.61%) |
Oct 21, 2026 5d ago | 6-K | $3.39 | awaiting T+20 | — | $3.34 (−1.62%) |
Oct 20, 2026 7d ago | 6-K | $3.51 | awaiting T+20 | — | $3.34 (−4.99%) |
Oct 20, 2026 7d ago | 6-K | $3.51 | awaiting T+20 | — | $3.34 (−4.99%) |
Oct 16, 2026 11d ago | 6-K | $3.39 | awaiting T+20 | — | $3.34 (−1.62%) |
Oct 13, 2026 14d ago | 6-K | $3.48 | awaiting T+20 | — | $3.34 (−4.17%) |
Oct 5, 2026 22d ago | 6-K | $3.37 | awaiting T+20 | — | $3.34 (−1.04%) |
Sep 28, 2026 29d ago | 6-K | $3.80 $3.36 | ▼ −11.58% | ▼ −11.55% | $3.34 (−12.24%) |
Sep 24, 2026 4w ago | 6-K | $3.75 $3.39 | ▼ −9.60% | ▼ −9.18% | $3.34 (−11.07%) |
Sep 24, 2026 4w ago | Press Release | $3.75 $3.39 | ▼ −9.60% | ▼ −9.18% | $3.34 (−11.07%) |
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