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].