HKSE debut poses tough questions for Zhihu

Zhihu is the largest online question-and-answer community in China.

Photo from CFP

Photo from CFP

By JIANG Jingling

 

Zhihu Inc shares slumped 22.2 percent on Friday as it debuted on the Hong Kong Stock Exchange at an issue price of HK$32.06 (US$4.90) per share. At the close, Zhihu’s stock stood at HK$24.5, down 23.6 percent. 

Zhihu is the first Chinese internet company to have primary listings in Hong Kong and in the US, offering a total of 26 million shares. 

It is the largest online question-and-answer community in China. In 2021, Zhihu doubled its revenue to 3 billion yuan but made a net loss of 1.3 billion yuan.