BEIJING, March 17, 2026 (GLOBE NEWSWIRE) -- 36Kr Holdings Inc. ("36Kr" or the "Company" or "We") (NASDAQ: KRKR), a prominent brand and a pioneering platform dedicated to serving New Economy participants in China, today announced its unaudited financial results for the six months and fiscal year ended December 31, 2025.
Financial and Operational Highlights for the Second Half of 2025
-- Number of followers1 as of December 31, 2025, reached 36.8 million, an
increase of 2.5% from 35.9 million as of December 31, 2024.
-- Net income was RMB16.2 million (US$2.3 million) in the second half of
2025, compared to net loss of RMB44.9 million in the same period of 2024.
-- Total revenues increased by 4.7% to RMB134.8 million (US$19.3 million) in
the second half of 2025 from RMB128.7 million in the same period of 2024.
-- Revenues from online advertising services increased by 5.0% to RMB105.2
million (US$15.0 million) in the second half of 2025, from RMB100.2
million in the same period of 2024.
-- Revenues from enterprise value-added services increased by 7.7% to
RMB20.9 million (US$3.0 million) in the second half of 2025, from RMB19.4
million in the same period of 2024.
-- Revenues from subscription services decreased by 3.3% to RMB8.7 million
(US$1.2 million) in the second half of 2025 from RMB9.0 million in the
same period of 2024.
-- Cost of revenues decreased by 12.6% to RMB54.0 million (US$7.7 million)
in the second half of 2025, from RMB61.8 million in the same period of
2024.
-- Gross profit increased by 20.8% to RMB80.8 million (US$11.6 million) in
the second half of 2025, from RMB66.9 million in the same period of 2024.
-- Gross profit margin increased by 8.0 percentage points to 60.0% from
52.0% over the same period of 2024.
-- Operating expenses decreased by 10.3% to RMB65.6 million (US$9.4 million)
in the second half of 2025, from RMB73.1 million in the same period of
2024.
Financial and Operational Highlights for the Fiscal Year 2025
-- Net income was RMB11.4 million (US$1.6 million) in fiscal year 2025,
compared to net loss of RMB140.8 million in fiscal year 2024.
-- Total revenues were RMB227.9 million (US$32.6 million) in fiscal year
2025, compared to RMB231.1 million in fiscal year 2024.
-- Revenues from online advertising services decreased by 0.5% to RMB179.7
million (US$25.7 million) in fiscal year 2025, from RMB180.6 million in
fiscal year 2024.
-- Revenues from enterprise value-added services increased by 1.2% to
RMB33.2 million (US$4.7 million) in fiscal year 2025, from RMB32.8
million in fiscal year 2024.
-- Revenues from subscription services decreased by 14.2% to RMB15.1 million
(US$2.2 million) in fiscal year 2025, from RMB17.6 million in fiscal year
2024.
-- Cost of revenues decreased by 18.8% to RMB96.4 million (US$13.8 million)
in fiscal year 2025, from RMB118.7 million in fiscal year 2024.
-- Gross profit increased by 17.1% to RMB131.5 million (US$18.8 million) in
fiscal year 2025, from RMB112.3 million in fiscal year 2024.
-- Gross profit margin increased by 9.1 percentage points to 57.7% from
48.6% over fiscal year 2024.
-- Operating expenses decreased by 36.1% to RMB121.5 million (US$17.4
million) in fiscal year 2025, from RMB190.1 million in fiscal year 2024.
Selected Operating Data
For the Fiscal Year Ended
December 31,
---------------------------
2025 2024
---------- ---------------
Online advertising services
Number of online advertising services end
customers 441 411
Average revenue per online advertising
services end customer (RMB'000)(2) 407.4 439.4
Enterprise value-added services
Number of enterprise value-added services end
customers 144 158
Average revenue per enterprise value-added
services end customer (RMB'000)(3) 230.3 207.8
Subscription services
Number of individual subscribers - 16
Average revenue per individual subscriber
(RMB)(4) - 24,637.5
Number of institutional investors 125 231
Average revenue per institutional investor
(RMB'000)(5) 120.8 74.6
Mr. Dagang Feng, Co-chairman and CEO of 36Kr, commented, "We concluded fiscal year 2025 on a high note despite the challenging external environment. In 2025, we achieved a major operational breakthrough by returning to profitability, while maintaining solid revenue performance. These achievements were driven by our continued integration of content innovation, commercialization breakthroughs, and technological applications into our business operations. In addition, we further enhanced user engagement by consistently enriching our content ecosystem and refining our omni-channel distribution matrix. As of the end of 2025, we had over 36.8 million followers, marking our 19th consecutive quarter of user growth. Looking ahead to 2026, building on our core content strengths, we will continue to fortify our content ecosystem to further explore commercialization breakthroughs, and actively expand AI applications across industries, driving the Company's high-quality, sustainable development."
Mr. Xiang Li, Chief Financial Officer of 36Kr, added, "Our financial results for the second half and fiscal year 2025 were highlighted by achieving profitability for both the second half and full year. Notably, we improved our revenue mix, significantly increasing our gross margin by 8.0 percentage points to 60.0%, and by 9.1 percentage points to 57.7% for the second half and full year, respectively. Furthermore, we cut our operating expenses by 10% and 36% for the second half and full year, a testament to our improved operational efficiency. Looking ahead, we will continue to optimize cost structure and improve operating efficiency to maintain stable cash flow and profitability. By maintaining a healthy balance sheet and exploring AI-empowered innovative development, we are confident of seizing the market's tremendous commercialization opportunities and creating long-term value for our stakeholders."
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(1) "Number of followers" refers to the aggregate number of followers across the official accounts we own and/or operate on various social media and online platforms, including but not limited to Weixin, Weibo, Zhihu, Toutiao, Xinhua Net, Douyin and Bilibili.
(2) Equals revenues generated from online advertising services for a period divided by the number of online advertising services end customers in the same period.
(3) Equals revenues generated from enterprise value-added services for a period divided by the number of enterprise value-added services end customers in the same period.
(4) Equals revenues generated from individual subscription services for a period divided by the number of individual subscribers in the same period.
(5) Equals revenues generated from institutional investor subscription services for a period divided by the number of institutional investors in the same period.
Unaudited Financial Results of the Second Half of 2025
Total revenues increased by 4.7% to RMB134.8 million (US$19.3 million) in the second half of 2025 from RMB128.7 million in the same period of 2024.
-- Online advertising services revenues increased by 5.0% to RMB105.2
million (US$15.0 million) in the second half of 2025, from RMB100.2
million in the same period of 2024. The increase was primarily
attributable to strong advertising demand from AI and high-tech companies,
which 36Kr captured through its focus on the tech vertical.
-- Enterprise value-added services revenues increased by 7.7% to RMB20.9
million (US$3.0 million) in the second half of 2025, from RMB19.4 million
in the same period of 2024. The increase was primarily attributable to
more innovative marketing solutions we provided to our customers as well
as proactive sales strategies we adopted to navigate the challenging
environment during the period.
-- Subscription services revenues decreased by 3.3% to RMB8.7 million
(US$1.2 million) in the second half of 2025, from RMB9.0 million in the
same period of 2024. The slight decrease was primarily driven by a
strategic shift in training services and ongoing refinement of this
segment's customer structure.
Cost of revenues decreased by 12.6% to RMB54.0 million (US$7.7 million) in the second half of 2025, from RMB61.8 million in the same period of 2024. The decrease was primarily driven by improved operational efficiency and a strategic focus on high-margin businesses.
Gross profit increased by 20.8% to RMB80.8 million (US$11.6 million) in the second half of 2025, from RMB66.9 million in the same period of 2024. Gross profit margin increased by 8.0 percentage points to 60.0% from 52.0% over the same period of 2024. The increase in gross margin was mainly attributable to the higher gross margin of the brand advertising services offered across 36Kr's digital platforms, as well as the significant increase in revenues from these services.
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