Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 221

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 3
Chunk 221
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 or disposition of our ADSs or Class A ordinary shares. The following summary does not address all aspects of U. S. federal income taxation that may be important to particular investors in light of their individual circumstances or to persons in special tax situations such as:

  banks and other financial institutions;  

  insurance companies;  

  pension plans;  

  cooperatives;  

  regulated investment companies;  

  real estate investment trusts;  

  broker-dealers;  

  traders that elect to use a mark-to-market method of accounting;  

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  certain former U. S. citizens or long-term residents;  

  tax-exempt entities (including private foundations);  

  holders who acquire their ADSs or Class A ordinary shares pursuant to any employee share option or otherwise as compensation;  

  investors that will hold their ADSs or Class A ordinary shares as part of a straddle, hedge, conversion, constructive sale, or other integrated transaction for U. S. federal income tax purposes;  

  persons liable for any minimum tax;  

  investors that have a functional currency other than the U. S. dollar;  

  persons that actually or constructively own 10% or more of our stock (by vote or value); or  

  partnerships or other entities or arrangements taxable as partnerships for U. S. federal income tax purposes, or persons holding ADSs or Class A ordinary shares through such entities or arrange...  

all of whom may be subject to tax rules that differ significantly from those discussed below.

Each U. S. Holder is urged to consult its tax advisor regarding the application of U. S. federal taxation to its particular circumstances, and the state, local, non-U. S. and other tax considerations of the ownership and disposition of our ADSs or Class A ordinary shares.

General

For purposes of this discussion, a “ U. S. Holder” is a beneficial owner of our ADSs or Class A ordinary shares that is, for U. S. federal income tax purposes:

  an individual who is a citizen or resident of the United States;  

  a corporation (or other entity treated as a corporation for U. S. federal income tax purposes) created in, or organized under the law of the United States or any state thereof or the District o...  

  an estate the income of which is includible in gross income for U. S. federal income tax purposes regardless of its source; or  

  a trust (A) the administration of which is subject to the primary supervision of a