Welcome to our dedicated page for Zhihu SEC filings (Ticker: ZH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to Zhihu Inc. (ZH) SEC filings, including Form 20-F annual reports and Form 6-K current reports for this China-based online content community. Zhihu’s filings reflect its dual listing on the New York Stock Exchange and The Stock Exchange of Hong Kong Limited, and document key developments in its business and capital structure.
Investors can use these filings to review quarterly financial disclosures furnished on Form 6-K, such as unaudited results for the first, second, and third quarters of 2025. These reports include revenue breakdowns for marketing services, paid membership, vocational training and others, along with gross margin, operating expenses, and net income or loss. They also explain the company’s use of non-GAAP measures like adjusted income or loss from operations and adjusted net income or loss.
Zhihu’s Form 6-K submissions also attach interim reports, Next Day Disclosure Returns, and Monthly Returns related to movements in securities and Hong Kong depositary receipts, as well as announcements on topics such as board changes, grant of restricted share units under its share incentive plan, and dates of board meetings. These documents help track share repurchase activity, equity issuance, and other capital management actions.
On Stock Titan, each new ZH filing is captured from EDGAR in near real time and paired with AI-powered summaries that highlight the most important points, so users can quickly understand lengthy financial tables and regulatory language. You can review annual Form 20-F reports for a comprehensive view of Zhihu’s operations and risk factors, and monitor ongoing Form 6-K filings for interim performance updates, governance changes, and securities movements without reading every page in full.
Zhihu Inc. has set the record dates that determine which shareholders can vote at and attend its forthcoming annual general meeting. Holders of Class A and Class B ordinary shares on the Hong Kong and Cayman share registers at the close of business on May 22, 2026, Hong Kong time, will be eligible, subject to transfer documents being lodged by the specified deadlines.
Holders of American depositary shares (ADSs), each representing three Class A ordinary shares, as of the close of business on May 22, 2026, New York time, may attend the meeting but cannot vote directly. Instead, they may instruct JPMorgan Chase Bank, N.A., as depositary, on how to vote the underlying Class A shares.
Zhihu Inc. Chief Financial Officer Wang Han received 330,000 Class A ordinary shares as an equity award. These shares were acquired at $0.01 per share when restricted share units (RSUs) vested after their performance-based conditions were achieved on April 17, 2026.
This is a compensation-related grant, not an open-market purchase or sale, and it increased his direct holdings to 2,830,000 Class A ordinary shares.
Zhihu Inc. files its Form 20-F annual report for the year ended December 31, 2025, reporting revenues of RMB2,749,004 thousand and a net loss of RMB195,161 thousand. The report explains Zhihu’s variable interest entity structure in mainland China and highlights heavy reliance on VIEs, which generated 68.7% of 2025 revenue. It details significant legal and regulatory risks tied to PRC foreign investment limits, evolving data and cybersecurity rules, licensing requirements, and potential enforcement that could impair operations or even make Zhihu’s securities substantially less valuable. Zhihu also describes HFCAA-related delisting risks, cash flow constraints from PRC dividend and capital controls, and continued negative operating cash flow despite a sizeable cash balance and net assets.
Zhihu Inc. files its Form 20-F annual report for the year ended December 31, 2025, reporting revenues of RMB2,749,004 thousand and a net loss of RMB195,161 thousand. The report explains Zhihu’s variable interest entity structure in mainland China and highlights heavy reliance on VIEs, which generated 68.7% of 2025 revenue. It details significant legal and regulatory risks tied to PRC foreign investment limits, evolving data and cybersecurity rules, licensing requirements, and potential enforcement that could impair operations or even make Zhihu’s securities substantially less valuable. Zhihu also describes HFCAA-related delisting risks, cash flow constraints from PRC dividend and capital controls, and continued negative operating cash flow despite a sizeable cash balance and net assets.
Zhihu Inc. granted an aggregate of 1,530,309 restricted share units (RSUs) on April 15, 2026 to seven eligible employees under its 2022 Share Incentive Plan. These RSUs represent the same number of Class A Ordinary Shares and about 0.61% of total shares in issue on a one share one vote basis.
The RSUs have a 48‑month mixed vesting schedule, with tranches starting to vest after the first anniversary of the vesting commencement date and continuing in batches. Vesting is tied to performance targets, and any unachieved portion is forfeited. The grant price is US$0.01 per RSU, compared with market prices of HK$8.74 per Class A share in Hong Kong and US$3.40 per ADS in New York around the grant date.
The company states that the awards aim to align employee and shareholder interests and help attract and retain key talent. None of the grantees are directors, chief executives, substantial shareholders, or their associates, and no shareholder approval is required for these grants.