BEIJING, April 17, 2025 (GLOBE NEWSWIRE) -- 36Kr Holdings Inc. ("36Kr" or the "Company") (NASDAQ:KRKR), a prominent brand and a pioneering platform dedicated to serving New Economy participants in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission (the "SEC") on April 17, 2025. The annual report can be accessed on the Company's investor relations website at http://ir.36kr.com and on the SEC's website at ...

Financial Performance and Structure - In 2022, 2023, and 2024, the revenue generated by the VIE accounted for 99%, 100%, and 100% of the total net revenues, respectively[30]. - As of December 31, 2022, 2023, and 2024, total assets of the VIE represented 87%, 90%, and 92% of the consolidated total assets[30]. - Revenue from online advertising services accounted for 68.7%, 70.2%, and 78.2% of total revenues in 2022, 2023, and 2024, respectively[54]. - A significant portion of revenues is derived from a limited number of customers, which may lead to fluctuations or declines in revenues[98]. - The VIE and its subsidiaries contributed substantially all of the company's revenues in 2022, 2023, and 2024[127]. Regulatory and Compliance Risks - The company faces risks associated with operating in rapidly evolving New Economy sectors, which could materially affect financial conditions and results of operations[42]. - The company must comply with PRC regulations regarding Internet content, and violations could materially affect business operations and financial condition[51]. - The PRC has enacted new laws on data security and personal information protection, which may impose additional operational restrictions and costs[59]. - The company faces uncertainties regarding the legality of foreign investments and operations in the Chinese Internet industry, which may disrupt business[61]. - The approval from the China Securities Regulatory Commission (CSRC) may be required for future overseas securities offerings, which could delay or restrict operations[118]. - The Foreign Investment Law of the PRC, effective January 1, 2020, introduces uncertainties regarding the company's corporate structure and governance[126]. - The PRC government's oversight could materially affect the company's operations and the value of its American Depositary Shares (ADSs)[119]. - The PRC tax authorities may scrutinize the contractual arrangements with the VIE, potentially resulting in additional tax liabilities that could adversely affect the financial condition of the company[131]. - The company may face penalties under PRC tax laws if it fails to comply with tax obligations related to indirect transfers of assets[176]. Operational Challenges - The company has experienced significant user growth, which is critical for attracting and retaining users[45]. - The company faces significant competition in the New Economy-focused business services market, particularly in online advertising and enterprise value-added services[70]. - The company must successfully compete with other companies in the industry and adapt to the evolving regulatory environment[46]. - Negative publicity could adversely affect the company's brand and reputation, impacting user acquisition and retention[44]. - The company may face challenges in retaining key management personnel, which is crucial for its success[81]. - Service disruptions or failures to scale technology could hinder the company's ability to retain and attract users[90]. Financial Health and Cash Flow - The company recorded net cash used in operating activities of RMB5.0 million in 2022, RMB122.2 million in 2023, and RMB33.0 million (US$4.5 million) in 2024, indicating a trend of negative cash flows from operating activities[77]. - The company incurred sales and marketing expenses of RMB122.1 million, RMB127.5 million, and RMB82.6 million (US$11.3 million) in 2022, 2023, and 2024, respectively, accounting for 37.9%, 37.5%, and 35.7% of total revenues[72]. - The company may need to sell additional equity or debt securities to meet future capital needs, which could dilute existing shareholders[78]. - The company relies on dividends and other distributions from its PRC subsidiaries to meet cash requirements, which may be limited by regulations[150]. - The People's Bank of China has implemented capital control measures that may restrict the ability of PRC subsidiaries to remit foreign currency for dividends and acquisitions[151]. Corporate Governance and Shareholder Rights - Dagang Feng, the CEO, holds approximately 74.5% voting power, allowing him to control significant corporate decisions[202]. - The dual-class share structure consists of Class A ordinary shares with one vote each and Class B ordinary shares with 25 votes each, limiting influence of Class A shareholders[203]. - Class B ordinary shares represent about 9.6% of total issued shares but account for 73.0% of voting power, concentrating control[204]. - The company is classified as a "controlled company" under Nasdaq rules, allowing it to rely on exemptions from certain corporate governance requirements[206]. - The difference in voting rights may harm the value and liquidity of Class A ordinary shares, potentially leading to lower market prices[208]. Market and Economic Conditions - The company faces significant risks from a potential global economic recession and a slowdown in the Chinese economy, which could negatively impact business operations and financial condition[107]. - The trading price of the ADSs is likely to be volatile, influenced by various factors including revenue variations, new investments, and regulatory announcements[181]. - The company does not expect to pay cash dividends in the foreseeable future, relying instead on price appreciation for returns on investment[190]. Legal and Tax Considerations - The company may face litigation or claims that could result in substantial costs and negatively impact its financial condition[88]. - The enforcement of labor laws in China may increase labor costs and expose the company to potential penalties for non-compliance[169]. - The company is obligated to withhold individual income taxes for employees exercising share options, with potential sanctions for failure to comply[168]. - Regulatory uncertainties regarding foreign exchange and outbound investment may restrict the company's acquisition strategy and financial operations[166]. Internal Controls and Reporting - The company identified a material weakness in its internal control over financial reporting, specifically a lack of sufficient competent personnel knowledgeable in U.S. GAAP, which could adversely affect the accuracy and timeliness of financial reporting[100]. - The company's financial statements could be impacted by ongoing SEC proceedings against PRC-based accounting firms, potentially affecting compliance with SEC requirements[178]. - The company expects to incur significant legal, accounting, and compliance costs due to its status as a public company, particularly following the cessation of its "emerging growth company" status[213].

36Kr Holdings, Inc. (NASDAQ:KRKR) Q4 2024 Earnings Conference Call March 11, 2025 8:00 AM ET Company Participants Shin Wang - IR Dagang Feng - Co-Chairman & Chief Executive Officer Xiang Li - Chief Financial Officer Conference Call Participants Operator Ladies and gentlemen, thank you for standing by for 36Kr Holdings, Inc, second half and fiscal year 2024 earnings conference call. At this time, all participants are in listen only mode. After management's prepared remarks, there will be a question and answe ...

BEIJING, March 11, 2025 (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, 2024. Financial and Operational Highlights for the Second Half of 2024 Number of followers1 as of December 31, 2024, reached 35.9 million, an increase of 10% from 32.7 million as of December 31, 20 ...

BEIJING, March 04, 2025 (GLOBE NEWSWIRE) -- 36Kr Holdings Inc. ("36Kr" or the "Company") (NASDAQ:KRKR), a prominent brand and a pioneering platform dedicated to serving New Economy participants in China, today announced that it will report its second half and fiscal year 2024 unaudited financial results, on Tuesday, March 11, 2025, before the open of U.S. markets. The Company's management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on March 11, 2025 (8:00 p.m. Beijing/Hong Kong Time ...

Financial Data and Key Metrics Changes - Total revenues for the first half of 2024 were RMB102.4 million, down from RMB139.9 million in the same period last year, indicating a decrease of approximately 26.7% [22] - Online advertising services revenue decreased to RMB80.4 million from RMB98.9 million, a decline of about 18.6% [22] - Gross profit was RMB45.5 million, down from RMB69.8 million, with a gross profit margin of 44.4% compared to 49.9% in the previous year [24] - Net loss increased to RMB95.9 million from RMB52.7 million, with a basic and diluted net loss per ADS of RMB2.245 compared to RMB1.258 in the same period last year [26] Business Line Data and Key Metrics Changes - Enterprise value-added services revenues fell to RMB13.4 million from RMB26.8 million, a decrease of approximately 50% [23] - Subscription services revenues decreased to RMB8.6 million from RMB14.2 million, reflecting a decline of about 39.4% [23] - The company reported a significant reduction in operating expenses by 9% to RMB117 million, with sales and marketing expenses decreasing by 29.9% [24] Market Data and Key Metrics Changes - The company had over 33.28 million followers, a 9% increase year over year, indicating sustained growth in user engagement [7] - Short video followers surpassed 9.2 million, with 2.3 million on Bilibili alone, showcasing strong performance in the short video segment [10] Company Strategy and Development Direction - The company is focusing on premium original content and enhancing its content supply capabilities, aiming to meet diverse customer needs and explore AI applications [8] - A three-step strategy of positioning, expansion, and collaboration is being implemented to drive operational efficiency and diversified development [9][20] - The company is expanding its customer segments, particularly in sectors like food and beverage, sports, and beauty, with notable new customer ratios exceeding 40% in beauty and personal care [16] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding future advertising growth, emphasizing the importance of optimizing products and services to navigate macroeconomic challenges [30] - The company plans to continue enriching its content ecosystem and expanding its reach to new channels while integrating AI technology into content production [30] Other Important Information - The company recognized an investment loss of approximately RMB25.5 million due to fair value changes of long-term investments [26] - Cash and cash equivalents decreased to RMB96.9 million from RMB116.9 million as of December 31, 2023, primarily due to net cash outflow from operating activities [27] Q&A Session Summary Question: Could management outline the expected growth trajectory for the advertising business? - Management remains cautiously optimistic about future advertising growth, focusing on optimizing products and services to support core customers, which has driven a 20% increase in ARPU [30] Question: What are the latest developments in short and long video segments? - The company has expanded its short video content offerings and established high visibility commercialization collaborations, with short video followers surpassing 9.2 million [34] Question: What key strategies will the company implement to drive growth in enterprise value-added services and subscription services? - The company launched a successful event IP and plans to enhance value-added consulting services while refining its service architecture for governmental and public service systems [39]

BEIJING, Sept. 03, 2024 (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 ended June 30, 2024. Financial and Operational Highlights for the First Half of 2024 Number of followers1 as of June 30, 2024 reached 33.3 million, an increase of 9.2% from 30.5 million as of June 30, 2023.Total revenues were RMB102 ...

BEIJING, Aug. 29, 2024 (GLOBE NEWSWIRE) -- 36Kr Holdings Inc. (“36Kr” or the “Company”) (NASDAQ: KRKR), a prominent brand and a pioneering platform dedicated to serving New Economy participants in China, today announced that it will report its 2024 first half unaudited financial results, on Tuesday, September 3, 2024, before the open of U.S. markets. The Company’s management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on September 3, 2024 (8:00 p.m. Beijing/Hong Kong Time on Septemb ...

BEIJING, Aug. 09, 2024 (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 that Ms. Lin Wei has resigned from her roles as the Company’s Chief Financial Officer and member of the Board of Directors for personal reasons, effective August 9, 2024. Mr. Xiang Li has been appointed as the Company’s new Chief Financial Officer and director, effective immediately. ...

BEIJING, July 16, 2024 /PRNewswire/ -- 36Kr Holdings Inc. ("36Kr" or the "Company") (Nasdaq: KRKR), a prominent brand and pioneering platform dedicated to serving New Economy participants in China, today announced that it has entered into a strategic partnership with Zhi-Tech Group ("Zhi-Tech," SZ: 300785), a tech group focusing on the consumer industry, to broaden its business expansion and commercialization initiatives. 36Kr and Zhi-Tech will leverage their diverse strengths and resources to jointly explo ...