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.