FIL Limited reports 7.5% stake in Zhihu

FIL Limited and related entities report a significant holding in Zhihu Inc. They file an amended Schedule 13G stating beneficial ownership of 18,746,764 shares of Zhihu Class A common stock, representing 7.5% of the class as of 06/30/2026.

Rhea-AI Filing Summary

FIL Limited and related entities report a significant holding in Zhihu Inc. They file an amended Schedule 13G stating beneficial ownership of 18,746,764 shares of Zhihu Class A common stock, representing 7.5% of the class as of 06/30/2026.

FIL Limited has sole voting power over 17,256,346 shares and sole dispositive power over 18,746,764 shares. Pandanus Partners, L.P. and Pandanus Associates, Inc., both Delaware entities, report sole dispositive power over the same 18,746,764 shares with no voting power. Fidelity China Special Situations PLC is identified as having rights to dividends or sale proceeds for 13,724,626 shares, equal to 5.5% of Zhihu’s outstanding Class A common stock at 06/30/2026.

Key Figures

Beneficial ownership: 18,746,764 shares Percent of class: 7.5% Sole voting power: 17,256,346 shares +3 more

6 metrics

Beneficial ownership 18,746,764 shares Zhihu Inc Class A common stock beneficially owned by FIL Limited as of 06/30/2026

Percent of class 7.5% Portion of Zhihu Inc Class A common stock represented by FIL Limited’s beneficial holdings

Sole voting power 17,256,346 shares Shares of Zhihu Inc Class A over which FIL Limited has sole voting power

Sole dispositive power 18,746,764 shares Shares of Zhihu Inc Class A over which FIL Limited has sole dispositive power

Fidelity China stake 13,724,626 shares Zhihu Inc Class A shares tied to Fidelity China Special Situations PLC rights

Fidelity China percent 5.5% Share of total outstanding Zhihu Inc Class A stock at 06/30/2026

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power, Schedule 13G, +1 more

5 terms

beneficially owned financial

"Ownership (a) | Amount beneficially owned: 18746764.00"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"5 | Sole Voting Power 17,256,346.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"7 | Sole Dispositive Power 18,746,764.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G regulatory

"Please see Exhibit 99 for 13d-1(k) (1) agreement."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

parent holding company financial

"Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Zhihu Inc (ZH) does FIL Limited report owning?

FIL Limited reports beneficial ownership of 7.5% of Zhihu Inc’s Class A common stock, equal to 18,746,764 shares as of 06/30/2026. This stake is disclosed in an amended Schedule 13G filing.

How many Zhihu Inc (ZH) shares does FIL Limited have voting power over?

FIL Limited has sole voting power over 17,256,346 shares of Zhihu Inc Class A common stock. It also holds sole dispositive power over 18,746,764 shares, reflecting control over how those shares may be sold or transferred.

Which entities besides FIL Limited are listed for the Zhihu Inc (ZH) position?

The filing names Pandanus Partners, L.P. and Pandanus Associates, Inc. as related Delaware entities. Each reports sole dispositive power over 18,746,764 Zhihu Class A shares, but no voting power over those shares.

What stake in Zhihu Inc (ZH) is attributed to Fidelity China Special Situations PLC?

Fidelity China Special Situations PLC is reported as having rights to dividends or sale proceeds for 13,724,626 shares of Zhihu Class A stock, representing 5.5% of the total outstanding shares as of 06/30/2026.

What class of Zhihu Inc (ZH) securities is covered in this ownership filing?

The filing covers Class A common stock of Zhihu Inc. FIL Limited and affiliated entities disclose beneficial ownership and voting and dispositive powers specifically over Zhihu’s Class A common shares as of 06/30/2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/06/2026 - 10:07 AM Accepted by SEC EDGAR 08/06/2026 - 10:06 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ZHIHU INC

(Name of Issuer)

CLASS A COMMON STOCK

(Title of Class of Securities)

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

FIL Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 17,256,346.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 18,746,764.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,746,764.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.5 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Pandanus Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 18,746,764.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,746,764.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.5 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No.

1

Names of Reporting Persons

Pandanus Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 18,746,764.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,746,764.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.5 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ZHIHU INC
(b)	Address of issuer's principal executive offices: 18 XUEQING ROAD,HAIDIAN DISTRICT,BEIJING,F4,100083
Item 2.
(a)	Name of person filing: FIL Limited
(b)	Address or principal business office or, if none, residence: Pembroke Hall, 42 Crow Lane, Hamilton, Bermuda, HM19
(c)	Citizenship: Not applicable
(d)	Title of class of securities: CLASS A COMMON STOCK
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Please see Exhibit 99.
Item 4.	Ownership
(a)	Amount beneficially owned: 18746764.00
(b)	Percent of class: 7.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page.
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 18746764.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the CLASS A COMMON STOCK of ZHIHU INC. The interest of Fidelity China Special Situations PLC, in the CLASS A COMMON STOCK of ZHIHU INC, amounted to 13724626.00 shares or 5.5% of the total outstanding CLASS A COMMON STOCK at 06/30/2026.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See attached Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FIL Limited

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by and on behalf of FIL Limited and its direct and indirect subsidiaries*
Date:	08/05/2026

Pandanus Partners, L.P.

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by Pandanus Associates, Inc. on behalf of Pandanus Partners, L.P.*
Date:	08/05/2026

Pandanus Associates, Inc.

Signature:	Stephanie J. Brown
Name/Title:	Duly authorized under Power of Attorney effective as of December 19, 2022, by and on behalf of Pandanus Associates, Inc.*
Date:	08/05/2026

Comments accompanying signature: * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FIL Limited on January 31, 2023, accession number: 0000318989-23-000005.

Exhibit Information

Please see Exhibit 99 for 13d-1(k) (1) agreement.