Event Announcement - Bloomberg New Economy Forum 欢迎新加坡外交部长 Vivian Balakrishnan 博士 [1] Forum Details - 更多论坛详情请访问提供的链接 [1]

Core Insights - Nvidia is positioned as a leader in two critical sectors of the new economy: artificial intelligence (AI) and gaming, which are driving significant growth and innovation in the technology landscape [1] Group 1: AI Sector - Nvidia's GPUs are essential for AI applications, with the company experiencing a surge in demand for its products, leading to a projected revenue increase of 50% year-over-year [1] - The company has established partnerships with major tech firms to enhance AI capabilities, further solidifying its market position [1] Group 2: Gaming Sector - Nvidia continues to dominate the gaming industry, with its latest graphics cards receiving positive reviews and driving sales growth [1] - The gaming segment is expected to contribute significantly to Nvidia's overall revenue, reflecting a strong consumer demand for high-performance gaming hardware [1]

Core Insights - China experienced a significant increase in ultra-wealthy individuals, with a record 1,434 individuals on the Hurun Rich List, marking a 31% increase from the previous year [1][6] - The collective wealth of these individuals reached 30 trillion yuan, reflecting a 42% rise compared to last year [2] - The surge in wealth is attributed to a bull market in stocks and the emergence of leaders from "new economy" companies [1][7] Individual Wealth Highlights - Zhong Shanshan reclaimed the top position with a fortune of 530 billion yuan, a 56% increase [3] - Zhang Yiming, founder of ByteDance, fell to second place despite a 34% increase in his wealth to 470 billion yuan [4] - Li Ka-shing and his son Victor Li saw their wealth rise 18% to 235 billion yuan, although they dropped from sixth to ninth place overall [5][8] Market Dynamics - The record number of individuals on the Hurun list is largely driven by a strong rally in stock markets [6] - The technology sector's growth and increased exports contributed to the expansion of the billionaire club [7]

Core Insights - Hong Kong Exchanges and Clearing (HKEX) is currently leading the global IPO rankings, but CEO Bonnie Chan Yiting warns that fundraising activities may slow down due to geopolitical and economic risks [1][3] - Despite the caution, there is a strong pipeline of over 300 companies waiting to list on the HKEX, including the world's largest IPOs this year from Contemporary Amperex Technology (CATL) and Zijin Gold International [1][2][5] IPO Performance - In the first nine months of the year, 66 companies raised a total of US$23.27 billion on HKEX's main board, marking a 220% increase compared to the previous year [5] - CATL's IPO in May raised US$5.3 billion, while Zijin's fundraising last month amounted to HK$24.98 billion (US$3.2 billion) [2] Listing Trends - Approximately half of the listing applicants are classified as "new economy" companies, focusing on sectors such as electric vehicles, biotechnology, and AI [3] - HKEX, along with the Securities and Futures Commission, has implemented reforms to simplify the listing process, aiming to attract more international firms and specialized technology companies [4] Future Outlook - HKEX is positioned to reclaim the title of the world's annual IPO leader by 2025, supported by a robust pipeline of over 300 companies [5]

Overview - Bloomberg New Economy 评选出 2025 年 Bloomberg New Economy Catalysts [1] - 涉及健康、能源、农业、金融等多个领域 [1] Geography - 创新者来自非洲、亚洲、欧洲和北美洲 [1]

Core Insights - 36Kr Holdings Inc. has made significant progress towards profitability, showcasing improvements in cost optimization, profitability, and strategic growth initiatives during the first half of 2025 [1][2]. Financial Performance - Total revenues for the first half of 2025 reached RMB93.2 million, with online advertising contributing RMB74.5 million [3]. - Advertising revenue from AI/large-model offerings increased by over 50% year-over-year, while revenue from sub-vertical media channels for younger audiences grew by 30% year-over-year [3]. - Gross profit margin improved to 54.4%, up 10 percentage points year-over-year [3]. - Operating expenses decreased by 52.3% to RMB55.86 million compared to the same period in 2024 [4]. - Net loss narrowed significantly by 95% year-over-year, amounting to RMB4.8 million, marking the strongest performance in recent years [4]. Content Ecosystem and User Engagement - 36Kr's content ecosystem saw a 9.9% year-over-year increase in followers, reaching over 36.57 million [4]. - WeChat Channels followers surged by 69% year-over-year, while the "Waves" official account followers expanded by 44% year-over-year [4]. - Major events like the "WAVES" and the 2025 AI Partner Summit achieved over 100 million views [4]. AI and Industrial Services - The company has launched multiple AI tools, generating 993 AI-driven reports and engaging 25,000 users [5]. - 36Kr's service model for global expansion has gained traction, hosting over 10 events focused on global expansion in the first half of the year [6]. - The company connected over 200 enterprises across key sectors, including low-altitude economy and advanced manufacturing [6]. Strategic Initiatives - In the second half of 2025, 36Kr plans to focus on three strategic initiatives: upgrading original content, commercializing AI products, and scaling industrial services to achieve break-even [7]. - The operational results validate the effectiveness of the company's "content + technology + industrial services" strategy [8].

Core Viewpoint - 36Kr Holdings Inc. reported significant improvements in profitability and operational efficiency in the first half of 2025, despite a decrease in total revenues compared to the same period in 2024 [4][8][10]. Financial and Operational Highlights - Total revenues for the first half of 2025 were RMB93.2 million (US$13.0 million), down from RMB102.4 million in the same period of 2024 [4][8]. - Revenues from online advertising services decreased to RMB74.5 million (US$10.4 million) from RMB80.4 million [4][12]. - Revenues from enterprise value-added services were RMB12.2 million (US$1.7 million), down from RMB13.4 million [4][12]. - Subscription services revenues fell to RMB6.4 million (US$0.9 million) from RMB8.6 million [4][12]. - Gross margin increased to 54.4%, up 10 percentage points from 44.4% in the same period of 2024 [4][10]. - Operating expenses were reduced by 52.3% to RMB55.9 million (US$7.8 million) from RMB117.0 million [4][11]. - Net loss narrowed significantly to RMB4.8 million (US$0.7 million), a 95% decrease from RMB95.9 million in the same period of 2024 [4][16]. Customer and Subscriber Metrics - The number of online advertising services end customers increased slightly to 226 from 222 [3]. - The average revenue per online advertising services end customer decreased to RMB329.7 thousand from RMB362.1 thousand [3]. - The number of enterprise value-added services end customers decreased to 49 from 56 [3]. - The number of individual subscribers was reported as 16, with an average revenue of RMB24,637.5 [3]. - The number of institutional investors decreased to 102 from 139, while the average revenue per institutional investor increased to RMB63.1 thousand from RMB59.2 thousand [3]. Strategic Insights - The company emphasized its commitment to enhancing profitability through strategic execution in content innovation, commercialization, and technology applications [4][5]. - The company achieved a 10% year-over-year increase in followers, reaching over 36 million as of June 30, 2025 [4][5]. - Future plans include deepening the content moat, expanding product offerings, and leveraging AI technology for sustainable development [4][5].

Core Viewpoint - 36Kr Holdings Inc. is set to report its unaudited financial results for the first half of 2025 on September 26, 2025, before U.S. market opening [1] Group 1: Earnings Conference Call - The management will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on September 26, 2025 [2] - Participants can join the call by completing pre-registration and dialing in 5 minutes prior to the start time [2][3] - A live and archived webcast of the conference call will be available on the Company's investor relations website [3] Group 2: Company Overview - 36Kr Holdings Inc. is a leading platform serving New Economy participants in China, focusing on empowering them to achieve more [4] - The Company began with high-quality New Economy-focused content and has expanded to include business services such as online advertising and enterprise value-added services [4] - 36Kr is supported by a comprehensive database and strong data analytics capabilities, positioning it to capture growth in China's New Economy [4]

Event Overview - Bloomberg New Economy 将于 11 月 19-21 日在新加坡举行 [1] - Bloomberg New Economy 旨在提供清晰的视角、建立联系和促进合作 [1] Focus - Bloomberg New Economy 致力于在极端时代提供值得信赖的见解和有目的的对话 [1]

Group 1 - BlueFive Capital and CICC's private equity investment division are considering establishing a fund to support Chinese companies seeking expansion in the Middle East [1] - The fund will focus on new economy sectors such as technology, digital transformation, green energy, and advanced manufacturing [1] - Negotiations will include non-exclusive terms regarding fund structure, capital commitments, and investment strategies [1]