Zhihu CEO Zhou Yuan Converts 371,436 Class B to Class A Shares

What Happened

• Zhou Yuan, Chief Executive Officer of Zhihu Inc. (ZH), reported an internal reclassification on July 28, 2026: he simultaneously recorded an acquisition and a disposition of 371,436 shares each (transaction code J), at $0.00 per share (total value $0.00). This reflects a conversion of Class B ordinary shares into Class A ordinary shares rather than a market buy or sale.

Key Details

• Transaction date: July 28, 2026; filing date (Form 4): July 30, 2026 (filed within the typical two-business-day reporting window).
• Reported entries: acquisition (J) of 371,436 shares @ $0.00 and disposition (J) of 371,436 shares @ $0.00.
• Shares owned after transaction: not specified in the filing.
• Footnote: Per the Stock Exchange of Hong Kong listing rules, Mr. Zhou converted 371,436 Class B ordinary shares into 371,436 Class A ordinary shares on a one-for-one basis as the issuer cancelled certain repurchased shares.
• No cash proceeds or purchases were involved; this is an administrative reclassification (not a market trade).

Context

• Conversions between share classes are administrative and do not necessarily indicate buying or selling intent. They do not change the economic exposure if the conversion is one-for-one; therefore this filing is neutral for signals about insider sentiment.