36Kr Holdings Inc 6-K, filed Mar 11, 2025
36Kr Holdings Inc. (KRKR)
About this 6-K
36Kr Holdings Inc filed this 6-K on March 11, 2025.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2025
Commission File Number: 001-39117
36Kr Holdings Inc.
(Exact Name of Registrant as Specified in Its Charter)
Building B6, Universal Business Park,
No. 10 Jiuxianqiao Road,
Chaoyang District, Beijing, People’s Republic of China, 100015
+86 10 8965-0708
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| 36Kr Holdings Inc. | |||||
| Date: | March 11, 2025 | By: | /s/ Dagang Feng | ||
| Name: | Dagang Feng | ||||
| Title: | Co-chairman and Chief Executive Officer | ||||
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EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press Release |
3
Exhibit 99.1
36Kr Holdings Inc. Reports Unaudited Financial Results for the Second Half and Fiscal Year 2024
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, 2023. |
| · | Total revenues were RMB128.7 million (US$17.6 million) in the second half of 2024, compared to RMB200.3 million in the same period of 2023. |
| · | Revenues from online advertising services were RMB100.2 million (US$13.7 million) in the second half of 2024, compared to RMB139.8 million in the same period of 2023. |
| · | Revenues from enterprise value-added services were RMB19.4 million (US$2.7 million) in the second half of 2024, compared to RMB40.5 million in the same period of 2023. |
| · | Revenues from subscription services were RMB9.0 million (US$1.2 million) in the second half of 2024, compared to RMB20.0 million in the same period of 2023. |
| · | General and administrative expense was RMB30.3 million (US$4.1 million) in the second half of 2024, representing a 58% decrease from RMB72.2 million in the same period of 2023. |
Financial and Operational Highlights for the Fiscal Year 2024
| · | Total revenues were RMB231.1 million (US$31.7 million) in fiscal year 2024, compared to RMB340.2 million in fiscal year 2023. |
| · | Revenues from online advertising services were RMB180.6 million (US$24.7 million) in fiscal year 2024, compared to RMB238.7 million in fiscal year 2023. |
| · | Revenues from enterprise value-added services were RMB32.8 million (US$4.5 million) in fiscal year 2024, compared to RMB67.3 million in fiscal year 2023. |
| · | Revenues from subscription services were RMB17.6 million (US$2.4 million) in fiscal year 2024, compared to RMB34.2 million in fiscal year 2023. |
| · | General and administrative expense was RMB93.1million (US$12.8million), representing a year-over-year decrease of 13% from RMB107.0 million. |
1 “Number of followers” refers to the aggregate number of followers across the official accounts we own and/or operate on various social media and online platforms, including but not limited to Weixin, Weibo, Zhihu, Toutiao, Xinhua Net, Douyin and Bilibili.
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Selected Operating Data
For the Fiscal Year Ended December 31, | ||||||||
| 2023 | 2024 | |||||||
| Online advertising services | ||||||||
| Number of online advertising services end customers | 488 | 411 | ||||||
| Average revenue per online advertising services end customer (RMB’000)2 | 489.1 | 439.4 | ||||||
| Enterprise value-added services | ||||||||
| Number of enterprise value-added services end customers | 306 | 158 | ||||||
| Average revenue per enterprise value-added services end customer (RMB’000)3 | 219.9 | 207.8 | ||||||
| Subscription services | ||||||||
| Number of individual subscribers | 46 | 16 | ||||||
| Average revenue per individual subscriber (RMB)4 | 143,091 | 24,637.5 | ||||||
| Number of institutional investors | 185 | 231 | ||||||
| Average revenue per institutional investor (RMB’000)5 | 149.2 | 74.6 | ||||||
Mr. Dagang Feng, Co-chairman and CEO of 36Kr, commented, “Amid the challenging external environment of 2024, we maintained our focus on long-term strategy and achieved significant operational efficiency improvements. Furthermore, by consistently enriching our content ecosystem, expanding our products and service offerings, and refining our omni-channel distribution matrix, we increased the number of our followers by 10% year-over-year to 36 million as of the end of 2024, marking our 16th consecutive quarter of follower growth. Looking ahead to 2025, we will continue to implement our innovative content initiatives and harness AI-driven opportunities to drive the Company’s high-quality, sustainable development.”
Mr. Xiang Li, Chief Financial Officer of 36Kr, added, “We significantly enhanced operational efficiency throughout 2024, cutting our total operating expenses by 50% year-over-year for the second half of 2024 and 31% for the full year. For the second half of 2024, our total operating expenses as a percentage of total revenues decreased by 17 percentage points year-over-year, and our gross profit margin remained above 50%. Heading into 2025, we will focus on amplifying our core competitive advantages and explore broader AI-powered commercialization strategies to create value for our stakeholders.”
2 Equals revenues generated from online advertising services for a period divided by the number of online advertising services end customers in the same period.
3 Equals revenues generated from enterprise value-added services for a period divided by the number of enterprise value-added services end customers in the same period.
4 Equals revenues generated from individual subscription services for a period divided by the number of individual subscribers in the same period.
5 Equals revenues generated from institutional investor subscription services for a period divided by the number of institutional investors in the same period.
2
Unaudited Financial Results of the Second Half of 2024
Total revenues were RMB128.7 million (US$17.6 million) in the second half of 2024, compared to RMB200.3 million in the same period of 2023.
| · | Online advertising services revenues were RMB100.2 million (US$13.7 million) in the second half of 2024, compared to RMB139.8 million in the same period of 2023. The decrease was primarily due to the reduction in advertising spending by advertisers from certain industries and our proactive efforts to cease collaboration with certain customers with relatively high credit risk. |
| · | Enterprise value-added services revenues were RMB19.4 million (US$2.7 million) in the second half of 2024, compared to RMB40.5 million in the same period of 2023. The decrease was primarily attributable to strategically refocusing on the core high-margin business through the elimination of underperforming regional operations. |
| · | Subscription services revenues were RMB9.0 million (US$1.2 million) in the second half of 2024, compared to RMB20.0 million in the same period of 2023. The decrease was primarily driven by fluctuations that resulted in lower-than-anticipated revenue. |
Cost of revenues was RMB61.8 million (US$8.5 million) in the second half of 2024, compared to RMB88.1 million in the same period of 2023. The decrease was primarily attributable to the operating cost reductions in line with the decline in our revenues.
Gross profit was RMB66.9 million (US$9.2 million) in the second half of 2024, compared to RMB112.2 million in the same period of 2023. Gross profit margin was 52.0% in the second half of 2024, compared to 56.0% in the same period of 2023.
Operating expenses were RMB73.1 million (US$10.0 million) in the second half of 2024, compared to RMB147.5 million in the same period of 2023, representing a decrease of 50% year-over-year.
| · | Sales and marketing expenses were RMB37.2 million (US$5.1 million) in the second half of 2024, a decrease of 40.7% from RMB62.7 million in the same period of 2023. The decrease was primarily attributable to the decrease in payroll-related expenses, rental expenses, and marketing and promotional expenses. |
| · | General and administrative expenses were RMB30.3 million (US$4.1 million) in the second half of 2024, a 58.0% decrease compared to RMB72.2 million in the same period of 2023. The decrease was primarily attributable to a decline in personnel-related expenses. |
| · | Research and development expenses were RMB5.6 million (US$0.8 million) in the second half of 2024, a decrease of 55.6% from RMB12.6 million in the same period of 2023. The decrease was primarily due to the workforce restructuring to enhance R&D efficiency. |
Share-based compensation gains recognized in cost of revenues, sales and marketing expenses, and research and development expenses, as well as general and administrative expenses, totaled RMB0.22 million (US$30.7 thousand) in the second half of 2024, compared to share-based compensation expenses of RMB0.97 million in the same period of 2023. The change was primarily attributable to the reversal of SBC expenses resulting from strategic workforce realignment.
Other expenses were RMB38.6 million (US$5.3 million) in the second half of 2024, compared to RMB1.1 million of other expenses in the same period of 2023. The increase was mainly due to the impairment loss of long-term investment.
Income tax credits were RMB1 thousand (US$0.1 thousand) in the second half of 2024, compared to RMB148 thousand of income tax expenses in the same period of 2023.
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Net loss was RMB44.9 million (US$6.1 million) in the second half of 2024, compared to RMB36.6 million in the same period of 2023. Non-GAAP adjusted net loss6 was RMB45.1 million (US$6.2 million) in the second half of 2024, compared to non-GAAP adjusted net loss of RMB35.6 million in the same period of 2023.
Net loss attributable to 36Kr Holdings Inc.'s ordinary shareholders was RMB42.3 million (US$5.8 million) in the second half of 2024, compared to RMB37.7 million in the same period of 2023.
Basic and diluted net loss per ADS7 were both RMB19.999 (US$2.740) in the second half of 2024, compared to RMB17.977 in the same period of 2023.
Certain Balance Sheet Items
As of December 31, 2024, the Company had cash, cash equivalents and short-term investments of RMB91.7 million (US$12.6 million).
Unaudited Financial Results of Fiscal Year 2024
Total revenues were RMB231.1 million (US$31.7 million) in fiscal year 2024, compared to RMB340.2 million in fiscal year 2023.
| · | Online advertising services revenues were RMB180.6 million (US$24.7 million) in fiscal year 2024, compared to RMB238.7 million in fiscal year 2023. The decrease was primarily driven by clients' advertising budget reductions coupled with our proactive efforts to cease collaboration with certain customers with relatively high credit risk. |
| · | Enterprise value-added services revenues were RMB32.8 million (US$4.5 million) in fiscal year 2024, compared to RMB67.3 million in fiscal year 2023. The decrease was primarily due to our ongoing refinement of service offerings by shrinking several regional operations to accelerate focus on cash flow optimization and efficiency improvement. |
| · | Subscription services revenues were RMB17.6 million (US$2.4 million) in fiscal year 2024, compared to RMB34.2 million in fiscal year 2023. The decrease was mainly attributable to a strategic transition in the business model for training services. |
Cost of revenues was RMB118.7 million (US$16.3 million) in fiscal year 2024, compared to RMB158.2 million in fiscal year 2023. The decrease was primarily attributable to a decrease in operating costs resulting from our improved efficiency.
Gross profit was RMB112.3 million (US$15.4 million) in fiscal year 2024, compared to RMB182.0 million in fiscal year 2023. Gross profit margin was 48.6% in fiscal year 2024 compared to 53.5% in the same period of 2023.
Operating expenses were RMB190.1 million (US$26.0 million) in fiscal year 2024, compared to RMB276.2 million in fiscal year 2023, representing a decrease of 31.2% year-over-year.
| · | Sales and marketing expenses were RMB82.6 million (US$11.3 million) in fiscal year 2024, a decrease of 35.2% from RMB127.5 million in fiscal year 2023. The decrease was primarily attributable to the decrease in payroll-related expenses, rental expenses, and marketing and promotional expenses. |
| · | General and administrative expenses were RMB93.1 million (US$12.8 million) in fiscal year 2024, a 13.0% decrease compared to RMB107.0 million in fiscal year 2023. The decrease was largely attributable to the decrease in personnel-related expenses and partially offset by doubtful accounts loss. |
6 Non-GAAP adjusted income/(loss) represents net income/(loss) excluding share-based compensation expenses/(gain).
7 On October 3, 2024, we effected a change in the ratio of our ADSs to Class A ordinary shares from one ADS representing twenty-five Class A ordinary shares to a new ratio of one ADS representing five hundred Class A ordinary shares. Basic and diluted net loss per ADS have been retrospectively adjusted to reflect this ADS ratio change for all periods presented.
4
| · | Research and development expenses were RMB14.4 million (US$2.0 million) in fiscal year 2024, a decrease of 65.5% from RMB41.7 million in fiscal year 2023. The decrease was primarily due to the decrease in the average compensation level for our R&D personnel as we restructured our R&D team. |
Share-based compensation gains recognized in cost of revenues, sales and marketing expenses, and research and development expenses, as well as general and administrative expenses, totaled RMB0.18 million (US$24.3 thousand) in fiscal year 2024, compared to RMB4.7 million of share-based compensation expenses in fiscal year 2023. The change was mainly due to the reversal of SBC expenses caused by strategic workforce optimization.
Other expenses were RMB63.0 million (US$8.6 million) in fiscal year 2024, compared to RMB4.9 million of other income in fiscal year 2023. The change was primarily driven by the impairment loss of long-term investment. Nevertheless, the company has proactively responded and is upbeat about its future.
Income tax expenses were RMB64 thousand (US$9 thousand) in fiscal year 2024, compared to RMB42 thousand of income tax credits in fiscal year 2023.
Net loss was RMB140.8 million (US$19.3 million) in fiscal year 2024, compared to RMB89.2 million in fiscal year 2023. Non-GAAP adjusted net loss6 was RMB141.0 million (US$19.3 million) in fiscal year 2024, compared to RMB84.6 million in fiscal year 2023.
Net loss attributable to 36Kr Holdings Inc.'s ordinary shareholders was RMB136.6 million (US$18.7 million) in fiscal year 2024, compared to RMB90.0 million in fiscal year 2023.
Basic and diluted net loss per ADS7 were both RMB64.795 (US$8.877) in fiscal year 2024, compared to RMB43.132 in fiscal year 2023.
6 Non-GAAP adjusted net loss represents net loss excluding share-based compensation expenses/(gain).
7 On October 3, 2024, we effected a change in the ratio of our ADSs to Class A ordinary shares from one ADS representing twenty-five Class A ordinary shares to a new ratio of one ADS representing five hundred Class A ordinary shares. Basic and diluted net loss per ADS have been retrospectively adjusted to reflect this ADS ratio change for all periods presented.
5
Conference Call
The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on March 11, 2025 (8:00 PM Beijing/Hong Kong Time on March 11, 2025).
For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.
| Event Title: | 36Kr Holdings Inc. Second Half and Fiscal Year 2024 Earnings Conference Call |
| Pre-registration link: | https://s1.c-conf.com/diamondpass/10045861-8wngh5.html |
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.36kr.com.
A replay of the conference call will be available for one week from the date of the conference, by dialing the following telephone numbers:
| United States: | +1-855-883-1031 |
| International: | +61-7-3107-6325 |
| Hong Kong, China: | 800-930-639 |
| Mainland China: | 400-120-9216 |
| Replay PIN: | 10045861 |
About 36Kr Holdings Inc.
36Kr Holdings Inc. is a prominent brand and a pioneering platform dedicated to serving New Economy participants in China with the mission of empowering New Economy participants to achieve more. The Company started its business with high-quality New Economy-focused content offerings, covering a variety of industries in China's New Economy with diverse distribution channels. Leveraging traffic brought by high-quality content, the Company has expanded its offerings to business services, including online advertising services, enterprise value-added services and subscription services to address the evolving needs of New Economy companies and upgrading needs of traditional companies. The Company is supported by comprehensive database and strong data analytics capabilities. Through diverse service offerings and the significant brand influence, the Company is well-positioned to continuously capture the high growth potentials of China's New Economy.
For more information, please visit: http://ir.36kr.com.
Use of Non-GAAP Financial Measures
In evaluating its business, the Company considers and uses two non-GAAP measures, adjusted net income/(loss) and adjusted EBITDA, as supplemental measures to review and assess its operating performance. The presentation of these two non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents these non-GAAP financial measures because they are used by the Company’s management to evaluate its operating performance and formulate business plans. The Company also believes that the use of these non-GAAP measures facilitates investors' assessment of its operating performance.
These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.
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The Company compensates for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages investors to review its financial information in its entirety and not rely on a single financial measure.
Adjusted net loss represents net loss excluding share-based compensation expenses.
Adjusted EBITDA represents adjusted net income/(loss) before interest income, interest expenses, income tax expense/(credit), depreciation of property and equipment and amortization of intangible assets.
For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and non-GAAP results” set forth at the end of this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.2993 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on of December 31, 2024.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goal and strategies; the Company’s future business development, results of operations and financial condition; relevant government policies and regulations relating to our business and industry; the Company’s expectations regarding the use of proceeds from this offering; the Company’s expectations regarding demand for, and market acceptance of, its services; the Company’s ability to maintain and enhance its brand; the Company’s ability to provide high-quality content in a timely manner to attract and retain users; the Company’s ability to retain and hire quality in-house writers and editors; the Company’s ability to maintain cooperation with third-party professional content providers; the Company’s ability to maintain relationship with third-party platforms; general economic and business condition in China; possible disruptions in commercial activities caused by natural or human-induced disasters; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
36Kr Holdings Inc.
Investor Relations
Tel: +86 (10) 8965-0708
E-mail: ir@36kr.com
Piacente Financial Communications
Jenny Cai
7
Tel: +86 (10) 6508-0677
E-mail: 36Kr@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: 36Kr@tpg-ir.com
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36Kr Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
| December 31, | December 31, | December 31, | ||||||||
| 2023 | 2024 | 2024 | ||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||
| Assets | ||||||||||
| Current assets: | ||||||||||
| Cash and cash equivalents | 41,464 | 36,766 | 5,037 | |||||||
| Restricted cash | - | 822 | 113 | |||||||
| Short-term investments | 75,497 | 54,947 | 7,528 | |||||||
| Accounts receivable, net | 139,408 | 65,617 | 8,987 | |||||||
| Receivables due from related parties | 69 | 104 | 14 | |||||||
| Prepayments and other current assets | 16,030 | 17,171 | 2,352 | |||||||
| Total current assets | 272,468 | 175,427 | 24,031 | |||||||
| Non-current assets: | ||||||||||
| Property and equipment, net | 7,366 | 5,817 | 797 | |||||||
| Intangible assets, net | 2,079 | 1,485 | 204 | |||||||
| Long-term investments | 142,599 | 74,858 | 10,256 | |||||||
| Operating lease right-of-use assets, net | 34,454 | 18,606 | 2,550 | |||||||
| Total non-current assets | 186,498 | 100,766 | 13,807 | |||||||
| Total assets | 458,966 | 276,193 | 37,838 | |||||||
| Liabilities | ||||||||||
| Current liabilities: | ||||||||||
| Accounts payable | 60,376 | 59,835 | 8,197 | |||||||
| Salary and welfare payables | 36,046 | 30,666 | 4,201 | |||||||
| Taxes payable | 5,940 | 2,648 | 363 | |||||||
| Deferred revenue | 23,428 | 19,301 | 2,644 | |||||||
| Amounts due to related parties | 261 | 789 | 108 | |||||||
| Accrued liabilities and other payables | 25,152 | 15,103 | 2,069 | |||||||
| Short-term bank loan | 9,950 | 10,000 | 1,370 | |||||||
| Operating lease liabilities | 8,953 | 7,860 | 1,077 | |||||||
| Total current liabilities | 170,106 | 146,202 | 20,029 | |||||||
| Non-current liabilities: | ||||||||||
| Operating lease liabilities | 26,826 | 11,743 | 1,609 | |||||||
| Other non-current liabilities | 174 | — | — | |||||||
| Total non-current liabilities | 27,000 | 11,743 | 1,609 | |||||||
| Total liabilities | 197,106 | 157,945 | 21,638 | |||||||
| Shareholders’ equity | ||||||||||
| Ordinary shares | 694 | 694 | 95 | |||||||
| Treasury stock | (11,502 | ) | (2,865 | ) | (393 | ) | ||||
| Additional paid-in capital | 2,064,264 | 2,057,363 | 281,858 | |||||||
| Accumulated deficit | (1,796,189 | ) | (1,932,258 | ) | (264,718 | ) | ||||
| Accumulated other comprehensive loss | (5,290 | ) | (4,922 | ) | (674 | ) | ||||
| Total 36Kr Holdings Inc.’s shareholders’ equity | 251,977 | 118,012 | 16,168 | |||||||
| Non-controlling interests | 9,883 | 236 | 32 | |||||||
| Total shareholders’ equity | 261,860 | 118,248 | 16,200 | |||||||
| Total liabilities and shareholders’ equity | 458,966 | 276,193 | 37,838 | |||||||
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36Kr Holdings Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
| Six Months Ended | Twelve Months Ended | |||||||||||||||||||||||
December 31, 2023 | December 31, 2024 | December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2024 | |||||||||||||||||||
| RMB’000 | RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | |||||||||||||||||||
| Revenues: | ||||||||||||||||||||||||
| Online advertising services | 139,813 | 100,214 | 13,730 | 238,701 | 180,609 | 24,743 | ||||||||||||||||||
| Enterprise value-added services | 40,529 | 19,449 | 2,664 | 67,297 | 32,832 | 4,498 | ||||||||||||||||||
| Subscription services | 19,955 | 9,006 | 1,234 | 34,187 | 17,629 | 2,415 | ||||||||||||||||||
| Total revenues | 200,297 | 128,669 | 17,628 | 340,185 | 231,070 | 31,656 | ||||||||||||||||||
| Cost of revenues | (88,120 | ) | (61,802 | ) | (8,467 | ) | (158,169 | ) | (118,734 | ) | (16,266 | ) | ||||||||||||
| Gross profit | 112,177 | 66,867 | 9,161 | 182,016 | 112,336 | 15,390 | ||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||
| Sales and marketing expenses | (62,683 | ) | (37,236 | ) | (5,101 | ) | (127,519 | ) | (82,596 | ) | (11,316 | ) | ||||||||||||
| General and administrative expenses | (72,168 | ) | (30,272 | ) | (4,147 | ) | (107,034 | ) | (93,100 | ) | (12,755 | ) | ||||||||||||
| Research and development expenses | (12,644 | ) | (5,597 | ) | (767 | ) | (41,681 | ) | (14,404 | ) | (1,973 | ) | ||||||||||||
| Total operating expenses | (147,495 | ) | (73,105 | ) | (10,015 | ) | (276,234 | ) | (190,100 | ) | (26,044 | ) | ||||||||||||
| Loss from operations | (35,318 | ) | (6,238 | ) | (854 | ) | (94,218 | ) | (77,764 | ) | (10,654 | ) | ||||||||||||
| Other (expenses)/income: | ||||||||||||||||||||||||
| Share of loss from equity method investments | (216 | ) | (3,209 | ) | (440 | ) | (523 | ) | (3,726 | ) | (510 | ) | ||||||||||||
| Gain on disposal of subsidiaries | 3,366 | 839 | 115 | 3,366 | 839 | 115 | ||||||||||||||||||
| Long-term investment loss | (8,079 | ) | (37,229 | ) | (5,100 | ) | (8,079 | ) | (62,763 | ) | (8,599 | ) | ||||||||||||
| Short-term investment income | 536 | 199 | 27 | 1,312 | 623 | 85 | ||||||||||||||||||
| Government grant | 352 | 16 | 2 | 1,147 | 491 | 67 | ||||||||||||||||||
| Others, net | 2,943 | 760 | 104 | 7,706 | 1,577 | 217 | ||||||||||||||||||
| Loss before income tax | (36,416 | ) | (44,862 | ) | (6,146 | ) | (89,289 | ) | (140,723 | ) | (19,279 | ) | ||||||||||||
| Income tax (expenses)/credit | (148 | ) | 1 | 0 | 42 | (64 | ) | (9 | ) | |||||||||||||||
| Net loss | (36,564 | ) | (44,861 | ) | (6,146 | ) | (89,247 | ) | (140,787 | ) | (19,288 | ) | ||||||||||||
| Net (income)/loss attributable to non-controlling interests | (1,108 | ) | 2,586 | 354 | (733 | ) | 4,160 | 570 | ||||||||||||||||
| Net loss attributable to 36Kr Holdings Inc.’s ordinary shareholders | (37,672 | ) | (42,275 | ) | (5,792 | ) | (89,980 | ) | (136,627 | ) | (18,718 | ) | ||||||||||||
| Net loss | (36,564 | ) | (44,861 | ) | (6,146 | ) | (89,247 | ) | (140,787 | ) | (19,288 | ) | ||||||||||||
| Other comprehensive (loss)/income | ||||||||||||||||||||||||
| Foreign currency translation adjustments | (583 | ) | 199 | 27 | 570 | 369 | 51 | |||||||||||||||||
| Total other comprehensive loss | (583 | ) | 199 | 27 | 570 | 369 | 51 | |||||||||||||||||
| Total comprehensive loss | (37,147 | ) | (44,662 | ) | (6,119 | ) | (88,677 | ) | (140,418 | ) | (19,237 | ) | ||||||||||||
| Comprehensive (income)/loss attributable to non-controlling interests | (1,108 | ) | 2,586 | 354 | (733 | ) | 4,160 | 570 | ||||||||||||||||
| Comprehensive loss attributable to 36Kr Holdings Inc.’s ordinary shareholders | (38,255 | ) | (42,076 | ) | (5,765 | ) | (89,410 | ) | (136,258 | ) | (18,667 | ) | ||||||||||||
| Net loss per ordinary share (RMB) | ||||||||||||||||||||||||
| Basic | (0.036 | ) | (0.040 | ) | (0.005 | ) | (0.086 | ) | (0.130 | ) | (0.018 | ) | ||||||||||||
| Diluted | (0.036 | ) | (0.040 | ) | (0.005 | ) | (0.086 | ) | (0.130 | ) | (0.018 | ) | ||||||||||||
| Net loss per ADS (RMB) | ||||||||||||||||||||||||
| Basic | (17.977 | ) | (19.999 | ) | (2.740 | ) | (43.132 | ) | (64.795 | ) | (8.877 | ) | ||||||||||||
| Diluted | (17.977 | ) | (19.999 | ) | (2.740 | ) | (43.132 | ) | (64.795 | ) | (8.877 | ) | ||||||||||||
| Weighted average number of ordinary shares used in per share calculation | ||||||||||||||||||||||||
| Basic | 1,047,723,522 | 1,056,978,247 | 144,805,426 | 1,043,057,081 | 1,054,310,601 | 144,439,960 | ||||||||||||||||||
| Diluted | 1,047,723,522 | 1,056,978,247 | 144,805,426 | 1,043,057,081 | 1,054,310,601 | 144,439,960 | ||||||||||||||||||
| Weighted average number of ADS used in per ADS calculation | ||||||||||||||||||||||||
| Basic | 2,095,447 | 2,113,956 | 289,611 | 2,086,114 | 2,108,621 | 288,880 | ||||||||||||||||||
| Diluted | 2,095,447 | 2,113,956 | 289,611 | 2,086,114 | 2,108,621 | 288,880 | ||||||||||||||||||
10
36Kr Holdings Inc.
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS
| Six Months Ended | Twelve Months Ended | |||||||||||||||||||||||
December 31, 2023 | December 31, 2024 | December 31, 2024 | December 31, 2023 | December 31, 2024 | December 31, 2024 | |||||||||||||||||||
| RMB’000 | RMB’000 | US$’000 | RMB’000 | RMB’000 | US$’000 | |||||||||||||||||||
| Net loss | (36,564 | ) | (44,861 | ) | (6,146 | ) | (89,247 | ) | (140,787 | ) | (19,288 | ) | ||||||||||||
| Share-based compensation expense/(gain) | 965 | (225 | ) | (31 | ) | 4,672 | (178 | ) | (24 | ) | ||||||||||||||
| Non-GAAP adjusted net loss | (35,599 | ) | (45,086 | ) | (6,177 | ) | (84,575 | ) | (140,965 | ) | (19,312 | ) | ||||||||||||
| Interest income, net | (110 | ) | (688 | ) | (94 | ) | (794 | ) | (1,173 | ) | (161 | ) | ||||||||||||
| Income tax expense/(credit) | 148 | (1 | ) | - | (42 | ) | 64 | 9 | ||||||||||||||||
| Depreciation and amortization expenses | 1,412 | 878 | 120 | 2,105 | 1,829 | 251 | ||||||||||||||||||
| Non-GAAP adjusted EBITDA | (34,149 | ) | (44,897 | ) | (6,151 | ) | (83,306 | ) | (140,245 | ) | (19,213 | ) | ||||||||||||
11