Recent developments include the launch of the 2025 AI Partner Conference focused on Super App development and AI innovation, filing of the 2024 annual report, and financial results announcements including a widened net loss in Q4 2024 and a return to profitability in 2025.

• 36Kr Holdings Inc. launched the 2025 AI Partner Conference focused on Super App development and AI innovation in April 2025 [N2].
• The company filed its Annual Report on Form 20-F for fiscal year 2024 in April 2025 [N3].
• 36Kr Holdings reported a widened net loss in Q4 2024 [N4].
• The company announced its second half and fiscal year 2024 earnings conference call scheduled for March 11, 2025 [N5].
• Insider Liu Chengcheng updated holdings in 36Kr Holdings in February 2023 [N6].
• 36Kr Holdings turned to profit in Q3 2022 with total revenues up 11.5% [N7].
• 36Kr Holdings shareholders experienced a 59% increase in one week in August 2022 but remained down over the last year [N8].
• Needham identified 36Kr Holdings as one of three penny stocks poised to double or more [N1].

36Kr’s diversified service offerings across online advertising, enterprise value-added services, and subscription services position it well to capture monetization opportunities in China’s growing New Economy sector. The company’s ability to leverage data analytics and AI technology to enhance content and service delivery may improve operational efficiency and customer satisfaction. Hosting large-scale industry events and maintaining strong relationships with institutional investors and government clients can drive brand recognition and revenue growth. The recent return to profitability in 2025 after prior losses indicates potential operational improvements and financial stabilization.

The company’s reliance on a VIE structure exposes it to significant risks related to the enforceability of contractual arrangements under PRC law, potential conflicts of interest with VIE shareholders, and regulatory uncertainties that could materially affect its business operations. The competitive landscape includes established internet portals and traditional marketing firms, which may limit market share gains. Fluctuations in advertising and marketing spending, as well as economic and regulatory changes in China, could adversely impact revenues and profitability. The company’s financial performance has shown volatility, including net losses in recent years prior to 2025.

36Kr’s moat is built on its established brand recognition as a leading New Economy-focused content and business services platform in China, its comprehensive service offerings tailored to evolving customer needs, and its extensive corporate information database and data analytics capabilities. The company’s ability to host large-scale online/offline events and provide integrated marketing and consulting services creates strong customer engagement and loyalty. Its specialized sales team and adoption of AI-generated content technology further enhance its competitive positioning. However, the company faces competition from other New Economy-focused service providers and traditional marketing and consulting firms, as well as risks related to its VIE structure and regulatory environment in China.

• VIE Structure Risks: 36Kr operates through contractual arrangements with a Variable Interest Entity (VIE) and its shareholders, which may not provide the same control as direct ownership. Breaches or disputes could disrupt business operations and economic benefits.
• Regulatory and Legal Risks in China: Uncertainties in PRC laws and regulations, including those related to overseas listings and industry-specific policies, may affect the company’s ability to operate or offer securities, potentially leading to penalties or operational restrictions.
• Competition: The company faces competition from other New Economy-focused business service providers, traditional marketing and consulting firms, and major internet portals, which may impact its market position and profitability.
• Financial Performance Volatility: Historical net losses and fluctuations in revenues and expenses indicate operational and financial risks that could affect future results.
• Liquidity and Capital Needs: While liquidity ratios are currently solid, future capital requirements or changes in business conditions may necessitate additional financing, which may not be available on favorable terms.

• 36Kr Holdings Inc. operates as a New Economy-focused business services provider in China, offering online advertising services, enterprise value-added services, and subscription services primarily to New Economy companies, traditional companies, regional governments, institutional investors, and other participants interested in the New Economy.
• The company provides tailored online advertising services, integrated marketing, consulting, online/offline events, and advertisement agent services to its customers.
• 36Kr's revenues were RMB227.9 million (US$32.6 million) in fiscal year 2025, slightly down from RMB231.1 million in 2024.
• Revenue breakdown for 2025: online advertising services RMB179.7 million (US$25.7 million), enterprise value-added services RMB33.2 million (US$4.7 million), subscription services RMB15.1 million (US$2.2 million).
• The company reported net income of RMB11.4 million (US$1.6 million) in 2025, compared to a net loss of RMB140.8 million in 2024.
• Earnings per share (basic and diluted) were 0.011 CNY per share for fiscal year 2025.
• As of December 31, 2025, 36Kr had cash and cash equivalents of RMB93.25 million (US$13.9 million) and short-term investments of RMB22.7 million (US$3.4 million), with a current ratio of 2.99 and a cash ratio of 1.18, indicating solid liquidity.
• The company operates through a Variable Interest Entity (VIE) structure in China, with contractual arrangements governing control and economic benefits, which carry risks related to enforceability and regulatory scrutiny under PRC law.
• 36Kr faces risks related to the VIE structure, including potential breaches by VIE shareholders, legal enforcement challenges, and regulatory uncertainties in China.
• The company is subject to risks from changes in PRC laws and regulations, including those affecting overseas listings and industry-specific policies.
• 36Kr has a sales team of 127 employees with specialized knowledge in the New Economy sector.
• The company leverages AI-generated content technology to enhance content production and user experience, with 22 employees dedicated to research and development as of December 31, 2025.
• 36Kr hosts large New Economy-focused online/offline events in China, providing networking and branding opportunities for customers.
• The company provides subscription services mainly to institutional users, offering industry reports and market updates.
• Accounts receivable were RMB61.8 million (US$8.8 million) as of December 31, 2025, with typical terms between 90 to 270 days.
• The company’s operating expenses include sales and marketing, general and administrative, and research and development costs, which have decreased from prior years.
• 36Kr Holdings launched the 2025 AI Partner Conference focused on Super App development and AI innovation in April 2025 [N2].
• The company filed its Annual Report on Form 20-F for fiscal year 2024 in April 2025 [N3].
• 36Kr reported a widened net loss in Q4 2024 [N4].
• The company announced its second half and fiscal year 2024 earnings conference call scheduled for March 11, 2025 [N5].
• Insider Liu Chengcheng updated holdings in 36Kr Holdings in February 2023 [N6].
• 36Kr turned to profit in Q3 2022 with total revenues up 11.5% [N7].
• The company’s shares experienced a 59% increase in one week in August 2022 but remained down over the last year [N8].
• The company’s financial figures are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice.