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36Kr Holdings Inc (KRKR)
NASDAQ:KRKR
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36Kr Holdings Inc (KRKR) AI Stock Analysis

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KRKR

36Kr Holdings Inc

(NASDAQ:KRKR)

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Neutral 48 (OpenAI - 4o)
Rating:48Neutral
Price Target:
$6.00
▲(4.71% Upside)
The overall stock score reflects significant financial challenges, including declining revenues and negative cash flows, which are the most impactful factors. Technical analysis indicates a bearish trend, and valuation metrics highlight unprofitability. Despite positive developments in operational efficiency and content expansion noted in the earnings call, these improvements are overshadowed by the broader financial difficulties.

36Kr Holdings Inc (KRKR) vs. SPDR S&P 500 ETF (SPY)

36Kr Holdings Inc Business Overview & Revenue Model

Company Description36Kr Holdings Inc. provides content and business services in the People's Republic of China. It creates and distributes various content, including insightful reports on companies and timely market updates, as well as editorials and commentaries in various industries, such as technology, consumer and retail, and healthcare. The company's business services include online advertising services; enterprise value-added services, such as integrated marketing, advertisement agent, offline events, and consulting services; and subscription services to individuals, institutional investors, and enterprises. 36Kr Holdings Inc. was founded in 2010 and is based in Beijing, the People's Republic of China.
How the Company Makes Money36Kr Holdings Inc generates revenue through multiple streams. A significant portion of its income comes from advertising services, where businesses pay to display their advertisements on 36Kr's platforms, targeting its vast audience of professionals and decision-makers. Additionally, the company offers enterprise value-added services, including marketing services, brand promotion, and financing support, which cater to the needs of startups and established enterprises looking to expand their reach and capabilities. Subscription services also contribute to its revenue, where users pay for premium content and exclusive insights. Strategic partnerships and collaborations with industry players further enhance 36Kr's ability to generate income and expand its service offerings.

36Kr Holdings Inc Earnings Call Summary

Earnings Call Date:Sep 26, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Dec 04, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant improvements in operational efficiency, content ecosystem expansion, and commercialization breakthroughs. Despite these positive developments, there were declines in overall revenue and subscription services, which present areas of concern. The advancements in AI and content production efficiency also contributed positively to the overall sentiment.
Q2-2025 Updates
Positive Updates
Improved Financial Performance
Gross profit increased by 10% year-over-year, and operating expenses decreased by more than CNY 60 million, down 52% year-over-year. The net loss was narrowed by more than CNY 90 million, a 95% improvement year-over-year.
Content Ecosystem Expansion
The company expanded its content ecosystem, achieving 17 consecutive quarters of growth in followers, now totaling over 36.57 million. The introduction of diverse content formats, including text, video, audio, and live streaming, contributed to this growth.
Commercialization Breakthroughs
Revenue from Internet clients increased by 52% year-over-year, and revenue from the FMCG segment grew by 27% year-over-year. Subvertical media channels for younger audiences saw revenue increase by 30% year-over-year.
AI and Technological Advancements
AI-powered content production improved efficiency, covering 993 companies. The AI meeting product and corporate Omni Intelligence enhanced the company's reach and engagement, with a user base of 25,000.
Negative Updates
Revenue Decline
Total revenue decreased to CNY 93.2 million from CNY 102.4 million in the same period last year. Online advertising services revenue and enterprise value-added services revenue also declined.
Subscription Services Revenue Drop
Subscription services revenue declined to CNY 6.4 million from CNY 8.6 million, primarily due to changes in the training services business model.
Company Guidance
During the 36Kr Holdings Inc.'s first half of 2025 earnings call, the company provided several key metrics that highlighted its financial performance and strategic advancements. The gross profit increased by 10% year-over-year, while operating expenses decreased by over CNY 60 million, representing a 52% reduction year-over-year. Net loss was narrowed by more than CNY 90 million, translating to a 95% improvement compared to the previous year. The company achieved a gross margin of 54.4%, up by 10% from the same period in 2024. Additionally, the company reported having over 36.57 million followers, marking 17 consecutive quarters of growth, and a significant expansion in video followers to over 9.52 million. The company also noted a 69% year-over-year surge in retail channel followers and a 44% increase in WAVES followers. Moreover, the company outlined its strategic focus on content innovation, commercialization breakthroughs, and technological applications to optimize its organizational structure and improve workforce efficiency, positioning itself for potential profitability by the end of 2025.

36Kr Holdings Inc Financial Statement Overview

Summary
36Kr Holdings Inc faces significant financial challenges, with declining revenues, persistent losses, and negative cash flows. The balance sheet shows some resilience with manageable leverage and a reasonable equity ratio, but the company's inability to generate profits and positive cash flow is a major concern.
Income Statement
45
Neutral
36Kr Holdings Inc has shown a consistent decline in revenue over the past several years, with a negative net profit margin indicating ongoing losses. Gross profit margin remains relatively stable, but the company has failed to achieve positive EBIT or EBITDA margins, highlighting operational challenges and inefficiencies in cost management. The revenue growth rate is negative, reflecting a concerning downward trend in sales performance.
Balance Sheet
60
Neutral
The company maintains a moderate debt-to-equity ratio, suggesting manageable leverage levels. Despite a reduction in stockholders' equity over the years, the equity ratio remains relatively strong, indicating a decent degree of financial stability. However, the negative return on equity highlights the company's inability to generate profits from shareholders' investments, posing a risk to long-term financial health.
Cash Flow
40
Negative
Cash flow analysis reveals a challenging scenario with consistently negative free cash flow, indicating the company is not generating enough cash to cover its capital expenditures. The operating cash flow to net income ratio is negative, reflecting poor cash conversion from operations. Despite some improvement in free cash flow in recent years, the overall trajectory remains concerning.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue340.19M231.07M340.19M322.50M316.78M386.76M
Gross Profit182.02M112.34M182.02M184.65M187.94M125.39M
EBITDA-92.30M-67.12M-79.83M-25.56M-72.66M-250.22M
Net Income-90.64M-136.63M-89.98M21.94M-89.57M-279.34M
Balance Sheet
Total Assets458.97M276.19M458.97M571.37M501.74M578.53M
Cash, Cash Equivalents and Short-Term Investments116.96M91.71M116.96M184.78M216.10M209.19M
Total Debt45.73M29.60M45.73M56.34M21.89M27.56M
Total Liabilities197.11M157.94M197.11M225.99M194.47M189.56M
Stockholders Equity251.98M118.01M251.98M338.11M299.40M380.82M
Cash Flow
Free Cash Flow253.37K-33.48M-127.56M-6.64M192.78M-19.48M
Operating Cash Flow253.37K-32.99M-122.16M-4.99M194.96M-17.13M
Investing Cash Flow0.0032.48M20.17M43.31M-158.00M-64.29M
Financing Cash Flow0.00-3.61M481.00K5.12M-23.00K-32.84M

36Kr Holdings Inc Technical Analysis

Technical Analysis Sentiment
Negative
Last Price5.73
Price Trends
50DMA
6.41
Negative
100DMA
5.96
Negative
200DMA
5.26
Positive
Market Momentum
MACD
-0.29
Positive
RSI
40.67
Neutral
STOCH
18.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRKR, the sentiment is Negative. The current price of 5.73 is below the 20-day moving average (MA) of 6.74, below the 50-day MA of 6.41, and above the 200-day MA of 5.26, indicating a neutral trend. The MACD of -0.29 indicates Positive momentum. The RSI at 40.67 is Neutral, neither overbought nor oversold. The STOCH value of 18.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KRKR.

36Kr Holdings Inc Risk Analysis

36Kr Holdings Inc disclosed 89 risk factors in its most recent earnings report. 36Kr Holdings Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

36Kr Holdings Inc Peers Comparison

Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
74
Outperform
$1.44B20.048.57%4.94%29.62%-19.65%
60
Neutral
$48.67B4.58-11.27%4.14%2.83%-41.78%
57
Neutral
$36.91M-33.83%-0.06%-87.64%
55
Neutral
$210.92M-12.44%8.29%87.33%
53
Neutral
$358.20M18.753.27%-22.16%
48
Neutral
$10.88M-35.00%
41
Neutral
$61.48M
* Communication Services Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
KRKR
36Kr Holdings Inc
5.73
1.26
28.19%
SCOR
comScore
7.51
1.08
16.80%
TRVG
trivago
3.03
1.36
81.44%
OPRA
Opera
15.80
0.70
4.64%
ZH
Zhihu
4.33
0.83
23.71%
BZFD
BuzzFeed
1.66
-0.77
-31.69%

36Kr Holdings Inc Corporate Events

36Kr Holdings Inc. Expands Share Capital and Adopts New Articles
Sep 12, 2025

On September 8, 2025, 36Kr Holdings Inc. held an extraordinary general meeting where shareholders approved significant changes to the company’s share capital structure. The authorized share capital was increased from $500,000 to $100,000,000, and the shares were re-designated into various classes, including Class A, B, and C Ordinary Shares. Additionally, the company adopted a new memorandum and articles of association, replacing the previous version. These changes are expected to enhance the company’s operational flexibility and align with its strategic goals in China’s dynamic New Economy sector.

36Kr Holdings Inc. Appoints New Director to Strengthen Leadership
Sep 9, 2025

On September 9, 2025, 36Kr Holdings Inc. announced the appointment of Ms. Jing Xu as a director of the company, effective from September 8, 2025. Ms. Xu brings over 20 years of experience in finance, having worked with large digital technology companies and startups. Her previous roles include Finance Director at Jingdong and Audit Manager at Deloitte. This strategic appointment is expected to enhance the company’s leadership team and strengthen its position in the New Economy sector.

36Kr Holdings Inc. Announces Board of Directors Change
Sep 4, 2025

On September 4, 2025, 36Kr Holdings Inc. announced the resignation of Mr. Peng Su from its Board of Directors, effective September 2, 2025, due to personal reasons. The company expressed gratitude for Mr. Su’s service and wished him well in his future endeavors. This change in the board may have implications for the company’s governance and strategic direction as it continues to focus on empowering New Economy participants in China.

36Kr Holdings Inc. Announces Extraordinary General Meeting in September
Aug 21, 2025

On August 21, 2025, 36Kr Holdings Inc. announced it will hold an extraordinary general meeting (EGM) of shareholders on September 8, 2025, in Beijing. Shareholders of record as of August 21, 2025, are entitled to vote at the meeting. This meeting is significant for stakeholders as it provides an opportunity to influence company decisions and strategies, potentially impacting 36Kr’s operations and market positioning.

36Kr Holdings Inc. Strengthens Corporate Stability with New Share Issuance
Aug 19, 2025

On August 19, 2025, 36Kr Holdings Inc. announced a capital structure initiative aimed at enhancing corporate stability. The company’s board approved the issuance of 54,958,400 Class C ordinary shares to Palopo Holding Limited, beneficially owned by CEO Dagang Feng. This move, which grants significant voting power to Mr. Feng, is designed to protect the company’s interests. The initiative involved repurchasing the same number of Class B shares from Palopo Holding Limited, resulting in Palopo owning 74.5% of the company’s voting power, thereby consolidating control and potentially influencing future company decisions.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 11, 2025