Zhihu INC

Form 420-F13D13G

Insider Trading (Form 4)

NYSE
Yuan Zhou, Chief Executive Officer and a Director of Zhihu Inc., reported multiple transactions in common stock on July 28, 2026.
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Zhihu Inc. director Derek Chen was granted 135,468 restricted share units as part of his ongoing board service compensation.
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Director Hope Ni acquired 33,867 Class A ordinary shares of Zhihu Inc. following the vesting of restricted share units.
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Director Li-Lan Cheng acquired 33,867 Class A ordinary shares via RSU vesting and sold 360 shares to cover administrative fees.
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Zhihu Inc. Chief Financial Officer Han Wang acquired 330,000 Class A ordinary shares upon the vesting of restricted stock units.

Schedule 13D - Activist Investments

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Plus Channel Limited and Kastle Limited, reporting persons for Zhihu Inc., increased their beneficial ownership to 10.0% of Class A ordinary shares through recent share repurchases funded by the issuer's working capital.
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Plus Channel Limited and Kastle Limited, entities associated with Zhihu Inc.'s share incentive plan, increased their beneficial ownership to 9.0% of Class A ordinary shares through recent repurchases.
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Plus Channel Limited and Kastle Limited, entities holding shares for Zhihu Inc.'s incentive plan, increased their beneficial ownership to 8.0% of Class A ordinary shares through recent repurchases.
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Plus Channel Limited and Kastle Limited, reporting persons for Zhihu Inc., have increased their beneficial ownership of Class A ordinary shares to 7.0% through ongoing share repurchases funded by the Issuer's working capital.
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Plus Channel Limited and Kastle Limited, reporting persons for Zhihu Inc., have increased their beneficial ownership of Class A ordinary shares to 6.0% through continued share repurchases funded by the Issuer's working capital for its 2022 share incentive plan.
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Zhihu Inc. has disclosed that Plus Channel Limited and Kastle Limited collectively hold a 5.0% beneficial ownership of its Class A ordinary shares, primarily through the company's ongoing share repurchase programs.

Schedule 13G - Passive Investments

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FIL Limited, along with its affiliates Pandanus Partners, L.P. and Pandanus Associates, Inc., has reported a beneficial ownership of 7.5% of Zhihu Inc.'s Class A Common Stock as of June 30, 2026.
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FIL Limited and its affiliates have disclosed a 5.6% beneficial ownership stake in Zhihu Inc.'s Class A Common Stock as of September 30, 2025.
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An amendment to Schedule 13G reveals updated beneficial ownership stakes in Zhihu Inc. by Innovation Works Development Fund, L.P., Innovation Works Holdings Limited, and their associated general partners and principals, totaling 0.8% of Class A Ordinary Shares as of December 31, 2024.