Core Viewpoint - 36Kr Holdings Inc. reported a significant decline in revenues and increased net losses for the fiscal year 2024, while also achieving operational efficiency improvements and a 10% increase in followers year-over-year [1][5][6]. Financial and Operational Highlights for the Second Half of 2024 - Total revenues were RMB128.7 million (US$17.6 million) in the second half of 2024, down from RMB200.3 million in the same period of 2023 [5][9]. - Revenues from online advertising services decreased to RMB100.2 million (US$13.7 million) from RMB139.8 million [5][10]. - General and administrative expenses were reduced by 58% to RMB30.3 million (US$4.1 million) compared to RMB72.2 million in the same period of 2023 [5][18]. - Net loss was RMB44.9 million (US$6.1 million), compared to RMB36.6 million in the same period of 2023 [5][14]. Financial and Operational Highlights for the Fiscal Year 2024 - Total revenues for fiscal year 2024 were RMB231.1 million (US$31.7 million), down from RMB340.2 million in fiscal year 2023 [5][17]. - Revenues from online advertising services decreased to RMB180.6 million (US$24.7 million) from RMB238.7 million [5][19]. - The net loss for fiscal year 2024 was RMB140.8 million (US$19.3 million), compared to RMB89.2 million in fiscal year 2023 [5][24]. - Operating expenses decreased by 31.2% to RMB190.1 million (US$26.0 million) from RMB276.2 million in fiscal year 2023 [5][21]. Selected Operating Data - The number of online advertising services end customers decreased from 488 in 2023 to 411 in 2024, with average revenue per customer dropping from RMB489.1 thousand to RMB439.4 thousand [4]. - The number of enterprise value-added services end customers fell from 306 to 158, with average revenue per customer decreasing from RMB219.9 thousand to RMB207.8 thousand [4]. - The number of individual subscribers dropped from 46 to 16, with average revenue per subscriber declining from RMB143,091 to RMB24,637.5 [4]. Other Key Metrics - The number of followers increased by 10% year-over-year to 35.9 million as of December 31, 2024 [5][6]. - The gross profit margin for the second half of 2024 was 52.0%, compared to 56.0% in the same period of 2023 [10][11]. - Cash, cash equivalents, and short-term investments totaled RMB91.7 million (US$12.6 million) as of December 31, 2024 [16].
36Kr Holdings Inc. Reports Unaudited Financial Results for the Second Half and Fiscal Year 2024