Company: ZHIHF
Filing Date: 2025-04-15
Form Type: 20-F
Source: 0001410578-25-000729
Chunk: 90

Company: Zhihu Inc.
Filing Date: 2025-04-15
Form: 20-F
Item: Item 3
Chunk 90
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 the laws of the Cayman Islands as our offshore holding company in May 2011, and later changed its name to Zhihu Inc. in October 2020.

In June 2011, we established Zhihu Technology (HK) Limited, a wholly-owned subsidiary of our Cayman Islands holding company, in Hong Kong as our intermediary holding company. In the same month, we established Zhizhe Tianxia in China. In January 2012, Zhihu Technology (HK) Limited established Zhizhe Sihai, a wholly-owned subsidiary in China. In January 2018, we established Beijing Zhihu Network Technology Co., Ltd., a wholly-owned subsidiary of Zhihu Technology (HK) Limited, in China.

In July 2018, we gained control over Zhizhe Tianxia through Zhizhe Sihai by entering into a series of contractual arrangements with Zhizhe Tianxia and its shareholders. We replaced such contractual arrangements with the contractual arrangements currently in effect in December 2021.

In September 2021, we gained control over Shanghai Pinzhi by entering into a series of contractual arrangements through Shanghai Zhishi with Shanghai Pinzhi and its shareholders. In November 2021, we gained control over Shanghai Biban Network Technology Co., Ltd., or Shanghai Biban, and its subsidiaries by entering into a series of contractual arrangements through Shanghai Paya Information Technology Co., Ltd. with Shanghai Biban and its shareholders; in June 2024, the shareholders of Shanghai Biban transferred all shares in Shanghai Biban to a subsidiary that is wholly owned by Wuhan Xinyue through its subsidiaries, and such contractual arrangements were terminated accordingly.

On March 26, 2021, the ADSs commenced trading on the New York Stock Exchange under the ticker symbol “ ZH.” Concurrently with our initial public offering, we also entered into private placement transactions with certain investors. Net proceeds from our initial public offering, including the exercise of the underwriters’ option to purchase additional ADSs, and the concurrent private placements, after deducting the underwriting discounts and offering expenses, were US$739.4 million.

On April 22, 2022, our Class A ordinary shares commenced trading on the Main Board of the Hong Kong Stock Exchange under the stock code “2390.” The selling shareholders received all the net proceeds of that global offering, and we did not receive any net proceeds therefrom.

In July 2023, we gained control over Wuhan Xinyue by entering