Participants

Dagang Feng; Co-Chairman of the Board, Chief Executive Officer; 36Kr Holdings Inc

Xiang Li; Chief Financial Officer; 36Kr Holdings Inc

Rui Yin; Analyst; Sealand Securities

Presentation

Operator

Hello, ladies and gentlemen. Thank you for standing by for 36Kr Holdings Inc.'s second half and fiscal year 2024 earnings conference call. (Operator Instructions) Today's conference call is being recorded.
I will now turn the call over to your host, [Xin Wang], IR Manager of the company. Please go ahead, Xin.

Thank you very much. Hello, everyone, and welcome to 36Kr Holdings second half and fiscal year 2024 earnings conference call. The company's financial and operational results were released earlier today and have been made available online. You can also view the earnings press release by visiting the IR section of our website at ir.36kr.com.
Participants on today's call will include our Co-Chairman and CEO, Mr. Dagang Feng; and our Chief Financial Officer, Mr. Xiang Li. Mr. Feng will start the call by providing an overview of the company and the performance highlights for the second half and full year in Chinese, followed by an English interpretation. Mr. Li will then provide details on the company's financial results before opening the call for your questions.
Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding this and other risks and uncertainties is included in the company's prospectus and other public filings as filed with the US SEC. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law.
Please note that 36Kr's earnings press release and this conference call include discussion of unaudited GAAP financial measures as well as unaudited non-GAAP financial measures. 36Kr's earnings press release contains a reconciliation of the unaudited non-GAAP measures to unaudited GAAP measures. And please note that all amounts are in RMB.
I will now turn the call over to our Co-Chairman and CEO, Mr. Dagang Feng. Pal, please go ahead.

Dagang Feng

(interpreted) Thank you. Hello, everyone. Thank you for joining our second half and fiscal year 2024 earnings conference call.
2024 marked a year of comprehensive operating efficiency improvement for 36Kr. Notably, our operating expenses in the second half of 2024 decreased by 50% compared to the same period of 2023. Our total operating expenses as a percentage of the total revenue decreased by 17 percentage in the second half of 2024 compared to the second half of 2023, while our gross profit margin remained above 50% for the second half of 2024. As a result, we vastly narrowed our operating losses while cash reserves remained essentially stable, establishing a resilient framework to support company's long-term solid business operations.
These operational achievements were primarily driven by our business structure and the workforce efficiency improvements throughout the year. We also consistently fortified our content ecosystem in 2024, leveraging our peerless content creation promise and comprehensive marketing offerings. We continued to optimize our advertising operations while broadening our media reach. We embraced the emerging global expansion trends and remained focused on AGI innovation, further accelerating our implementation of AI across real-world scenarios. These efforts drove significant progress in both our global expansion and AI application.
Let's take a closer look at the company's development from two key perspectives. First, our existing business, and second, our growth initiatives. For our existing business, I will start with an update on our content influence in commercialization.
In terms of content ecosystem development, we continue to create high-quality content on multiple fronts while maintaining our existing content metrics. Building our flagship channels, including 36Kr and 36Kr Pro, we broadened our reach in subverticals, actively expanding high-quality content-specific accounts like the emergence of Intelligence, 36Kr Auto Future Consumption, 36Kr Games, [Vapes] and 36Kr Finance, among others. These accounts made our metrics more comprehensive by adding both broad content coverage and deep expertise in specialized domains to provide users with invaluable insights into industry trends and evolving business dynamics.
At the same time, we continued to tailor content experiences for younger generations by launching our Oh! Youth and TIDE subvertical media channels, featuring a broad content metrics of text in graphics, comics and customized videos. These channels successfully engaged the younger audiences, greatly extending our content reach. In August 2024, we officially launched a new content-specific account, 36Kr Games dedicated to exploring gaming products, technology, business value and cultural stories.
We utilized a vibrant mix of text, graphics, live streaming and video formats to capture the vigorous development of the gaming sector and engage its dynamic audience. To date, our accounts cover advanced manufacturing, digitalization, dual carbon and ESG, hardcore technology, highly specialized and innovative enterprises, consumer lifestyles and much more, fostering a thriving content ecosystem. In 2024, our editorial team published 8,090 articles through content-specific accounts, of which 2,465 were original, garnering over 220 million page views, more than 241,000 comments in the 5.253 million shares. Notably, on the 36Kr official accounts alone, 757 of our articles achieved over 100,000 page views.
Moving on to our content dissemination network, we steadily expanded our footprint across diverse channels, crossing a comprehensive circulation metrics encompassing major new medium platforms like Weibo, RedNote, Toutiao, Zhihu, Bili, Douyin, and Kuaishou among others. Broad channel exposure brings us wider overall dissemination and higher visibility for our premium content. Our consistent production of high-quality content expanded and diversified our user demographics, further elevating user engagement and stickiness. As of the end of 2024, we had over 35.9 million followers, marking 16 consecutive quarters of growth.
We explored the growing area of content formats throughout 2024, including text, graphics, short- and long-form videos, audio and live streaming, enriching our content offerings with a greater diversity of styles. In terms of short video, our exceptional content creation capabilities earned us widespread visibility in the rave reviews from users. Our video followers exceeded 9.31 million by the end of 2024, including a significant 2.47 million on Bilibili alone, up by 10% year-over-year.
Our WeChat channel's followers surged by 58% year-over-year. Our short video business continued to excel with its contribution to advertising revenue consistently on the rise.
In the long-form video segment, we collaborated with popular short-form video platform, Douyin to launch a new season of our elite talk show series, [Foreseeing] 2034 in the second quarter. We made notable strides in content creation and channel distribution through this robust partnership. The debut episode of Foreseeing 2034 featuring NIO Founder, William Li Bin delved into upcoming shifts in the new energy vehicle sector, garnering widespread interest in racking up over 84 million views across various platforms.
For live streaming, this year, we optimized our resources with a streamlined team in the fully leveraged WeChat channels to cultivate an area of content-specific accounts, including 36Kr Pro Plus, global expansion in Golden Shovel and 36Kr [CEO Tips]. These efforts not only significantly elevated our live streaming content influence, but also drove commercial convergence and supplemented our low ARPU offerings. We hosted 272 live streaming sessions in 2024, addressing a diverse spectrum of training topics, including AI large models and Chinese brands global expansion. Additionally, we launched our first e-commerce live streaming in late 2024. Our debut episode featured 38 tech products and garnered over 1.63 million views with a live audience of 289,000.
Notably, the 36Kr live streaming channel ranked number one on Douyin's smart device category leader board during the same time period as live streaming. What's more for the full year, our live streaming revenue surged by 68.5% year-over-year. Moving forward, we will continue to explore new live stream formats and scenarios, delighting both our users and clients with richer content scenarios in more diverse service models.
Now let's turn to enterprise value-added services. In 2024, we achieved a substantial success with the launch of a major event IP, Advanced Productivity AI Partner Summit. In collaboration with industry giants like Alibaba, Baidu, Lenovo and Intel, we delved into the latest trends in AI application, sharing insights on both opportunities and the challenges gleaned from day-to-day business operations. This summit attracted an impressive 100 million-plus views sparking extensive industry buzz. Additionally, we held our highly anticipated signature IP event, the WISE2024 Business Kings Conference in November 2024. The submit focused only 11 trending industry verticals and featured two regional sub forums, the WISE2024 Continue to Sink Globalization Sub-Forum, Shenzhen, and the WISE2024 Always with You Future Consumption Conference, Beijing.
The event brought together more than 200 Chinese business leaders and elite representing a wide area of industries, including Lee Kai-Fu, CEO of [01.AI] and the Chairman of Sinovation Ventures; Lu Weibing, Partner and President of Xiaomi Group; Dai Wei, Senior Vice President of Lenovo Group; Jia Jingdong, Vice President of Vivo; Yin Ye, CEO of BGI Group; and Zhang Peng, CEO of Zhipu, sharing visionary insights into the future of China's business advancement. Our WISE2024 Business Games Conference attracted over 850 million total views.
In addition to off-line events, we continued to make strides in our consulting services and other enterprise value-added service offerings this year. For instance, 36Kr Research Institute delved into key sectors pointed for disruptive growth with significant upside potential, such as global expansion, embedded artificial intelligence, low-altitude economy and artificial intelligence, among others. Their in-depth analysis considered factors like policy guidance, funding activity, market demand, industry change structure, competitive landscape, business model and development trends. In 2024, followers of 36Kr Research Institute increased by over 11% while workforce productivity ratio significantly improved. On the commercialization front, we strengthened our foundation in industry research and strategic market planning while expanding into due diligence, branding consulting and other services.
The various efforts I just described have also contributed to client structure optimization. Our enriched content ecosystem and diverse content distribution channels empowered us to consistently expand our portfolio of services and products this year, enhancing our commercialization capabilities. This has enabled us to expand our outreach to clients in emerging sectors like new energy vehicles in the luxury goods consumption while actively broadening partnerships with legacy brands in traditional industries like apparel and food.
These coordinated initiatives have meaningfully benefited our existing business as we improved the productivity, optimized the business and client structures and enhanced the sustainability of revenue streams. Going forward, we will continue to expand the boundaries of the media, explore new products in the business models for global expansion to drive revenue growth and advance AGI applications to further optimize content production and commercialization efficiency.
Turning now to our growth initiatives. In 2024, global expansion emerged as a crucial opportunity that no Chinese company could afford to meet and 36Kr is no exception. 36Kr has already established a solid presence in Japan through 36Kr Japan and Southeast Asia, while -- Asia, building on years of extensive efforts by its overseas teams, 36Kr has cultivated significant ties with foreign governments, major industry players, start-ups in capital ecosystems amassing a wealth of success stories and experiences in facilitating global business expansion. For years, we have been providing media services and marketing support to Chinese companies overseas, while our international teams have been helping foreign institutions and enterprises to tap into business opportunities in China.
On the content front, we have extensively covered globalization success stories for leading Chinese companies such as MINISO, (inaudible), ePropulsion, Nationality Digital in [Manrich], keeping a close eye on the global expansion dynamics of Chinese enterprises.
To advance our global expansion, we launched the 36Kr European Central Station in 2024. Currently, 36Kr Europe mainly features new operational start-ups from the 36Kr ecosystem, along with original content such as a quarter package equipping overseas stakeholders with timely and comprehensive information on Chinese businesses. This initiative enables 36Kr Europe users to access the same information at the same time as those in China. Additionally, 36Kr Europe leverages AIGC technology to empower its content ecosystem, notably improving productivity while lowering content creation cost. It currently supports browsing English, German and Chinese with plans to add more languages in country-specific channels.
To maximize the synergy of domestic resources in December 2024, 36Kr initiated and launched the Beijing International Chamber of Commerce Global Expansion Service Committee under the guidance of China Council for the Promotion of International Trade Beijing Sub-Council. 26 leading institutions have joined the committee, including LinkedIn China, China Mobile International, KPMG and Ant Financial. The committee brings together Beijing's top industry and professional service providers specializing in global expansion-related solutions to help local businesses expand into global markets, aiming to gradually enhance the international competitiveness of Beijing-based companies.
Moving on to commercialization. At the beginning of 2025, 36Kr signed an agreement to enter a strategic partnership with Hangzhou Qiantang New Area Construction and Investment Group Company for the Chinese Enterprise International Service Center Operations project. This collaboration will leverage our expertise in organizational operations in online content distribution as well as our vast network of global expansion resources to support Qiantang New area in building a unique service ecosystem and operational framework for corporate global expansion. This initiative seeks to create a powerful brand for Qiantang New area and amplify its international influence to empower Chinese enterprises to expand globally.
Moving forward, 36Kr will remain committed to expanding and integrating cooperative resources fostering synergy within an extensive global partnership ecosystem. This will enable us to better serve Chinese businesses and institutions in their international ventures, empowering Chinese businesses' global expansion while driving 36Kr's revenue growth.
In addition to exploring global expansion offerings, we continue to focus on artificial intelligence, deepening our innovative AGI applications to further optimize content production and commercialization efficiency.
We also provided intensive coverage of China's AI ecosystem throughout 2024. We are the only tech leading outlet worldwide to have exclusively interviewed DeepSeek's Founder twice, while first in the industry reports on topics like six AI tigers faced exit from pre-training in the GPU leasing dilemma for AI computing centers to tracking and swiftly capturing the latest AI developments of tech giants like Alibaba, ByteDance and Xiaomi. Our coverage for China's AI community is both broad and deep, amplified by our network's extensive reach.
In addition to our broad content reach and the King insights, we have actively integrated AIGC technology into our content ecosystem to enhance efficiency company-wide. In 2024, we launched an area of AI-powered tools, including AI Text to Image, AI Web and AI Financial Report Interpretation as well as AI Media Coverage, which fully leverages large-scale AI model technologies and AI algorithm to produce AI-powered interviews in a generated content. The underlying system currently incorporates multiple developers, large AI models such as (inaudible), among others. And we integrated DeepSeek in February 2025. AI Media coverage has covered over 330 companies since its launch, highlighting their latest initiatives were fundraising ventures.
In addition, we launched the 36Kr Corporate Omni Intelligence in October 2024, targeting stock market investors by providing daily sentiment analysis reports for public companies. The service currently covers over 7,800 public companies listed in Mainland China and Hong Kong. Users can search, filter and subscribe to reports on their preferred companies, receiving daily analysis in a personalized content format. The product's underlying sentiment data is a collaboration between 36Kr and [Soften], a wholly owned subsidiary of Beyondsoft.
Currently, subscriptions for this daily reports totaled [324] with a cumulative user base of [600] -- more than [600]. Our exploration of AI products and tools further underscores 36Kr's foresight acumen and outstanding execution capabilities in AI, leveraging the inherent synergies between AIGC technology in the content production industry. We maximized AIGC technology utilization in our content production activities this year, including information identification, text processing and image generation. Moreover, we continued to broaden our business scope by actively promoting AI application across diverse business scenarios.
For example, we partnered with SenseTime to jointly launch AI financial report interpretation services by introducing diverse AI products. We broadened the purview in the precision of our customer outreach initiatives, effectively connecting with a diverse spectrum of enterprises and organizations, previously beyond reach due to resource-intensive workloads and manpower limitations.
In summary, 36Kr comprehensively improved its operating efficiency throughout 2024, thanks to our peerless content creation prowess, robust IP assets, deeply engaged users, refined customer structure and diversified product and service lineup. Looking ahead to 2025, as a prominent brand in the pioneering platform supporting new economy enterprises, we are poised to hone on competitive edge in content creation, broaden the reach of our products and service offerings and further harness AI technology to empower high-quality development among new economy stakeholders.
With that, I will now turn the call over to our CFO, Mr. Xiang Li, who will discuss our key financial results. Please go ahead, Xiang.

Xiang Li

Thank you. Thank you for joining our -- today's conference call. We will now review the second half of 2024 and the full year financial performance. Please note that all amounts are in RMB unless otherwise stated.
The company's total revenue were RMB128.7 million in the second half of 2024 compared to RMB200.3 million in the same period of 2023. The total revenue for the full year of 2024 were RMB231.1 million compared to RMB340.2 million in the previous year.
Online advertising services revenue were RMB100.2 million in the second half of 2024 compared to RMB139.8 million in the same period of 2023. For the full year of 2024, our online advertising services revenue were RMB180.6 million compared to RMB238.7 million in the previous year. The decrease was primarily due to the reduction in advertising spending by advertisers from certain industries and ongoing elimination of underperforming customers as a proactive measure to reduce credit risk.
Enterprise value-added services revenue were RMB19.4 million in the second half of 2024 compared to RMB40.5 million in the same period of 2023. For the full year of 2024, our enterprise value-added services revenue were RMB32.8 million compared to RMB67.3 million in the previous year. The decrease was mainly due to strategically refocusing on the core high-margin business through the optimization of underperforming regional operations.
Subscription services revenue were RMB9 million in the second half of 2024 compared to RMB20 million in the same period of 2023. For the full year of 2024, our subscription services revenue were RMB17.6 million compared to RMB34.2 million in the previous year. The decrease was mainly due to the strategically transition in the business model for training services. Cost of revenue was RMB61.8 million in the second half of 2024 compared to RMB88.1 million in the same period of 2023. For the full year of 2024, our cost of revenue was RMB118.7 million compared to RMB158.2 million in the previous year. The decrease was primarily attributable to the -- to a decrease in operating costs resulting from our improved efficiency.
Gross profit was RMB66.9 million in the second half of 2024 compared to RMB112.2 million in the same period of 2023. Gross margin was 52% in the second half of 2024 compared to 56% in the same period of 2023. For the full year 2024, our gross profit was RMB112.3 million compared to RMB182 million in the previous year. Gross margin for the full year of 2024 was 48.6% compared to 53.5% in the previous year.
Operating expenses were RMB73.1 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. For the full year of 2024, our operating expenses were RMB190.1 million compared to RMB276.2 million in the previous year, representing a decrease of 31.2% year-over-year.
Sales and marketing expenses were RMB33.2 million (sic – see quarterly results report, "RMB37.2 million") in the second half of 2024, a decrease of 40% from RMB62.7 million in the same period of 2023. For the full year of 2024, our sales and marketing expenses were RMB82.6 million, a decrease of 35.2% from RMB127.5 million in the previous year. 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 in the second half of 2024, a 58.8% decrease compared to RMB72.2 million in the same period of 2023. For the full year 2024, our general and admin expenses were RMB93.1 million and a 13% decrease compared to RMB107 million in the previous year. The decrease was largely attributable to the decrease in personnel-related expenses and partially offset by doubtful account loss.
Research and development expenses were RMB5.6 million in the second half of 2024, a decrease of 55.6% from RMB12.6 million in the same period of 2023. For the full year 2024, our R&D expenses were RMB14.4 million, a decrease of 65.5% from RMB41.7 million in the previous year. The decrease was primarily due to the workforce restructuring to enhance R&D efficiency.
Share-based compensation gain recognized in cost of revenue, sales and marketing expenses and R&D expenses as well as general and admin expenses totaled RMB0.22 million in the second half of 2024 compared to the share-based compensation expenses of RMB0.97 million in the same period of 2023. For the full year 2024, the total amount of share-based compensation gain were RMB0.18 million compared to RMB4.7 million of share-based compensation expenses in the previous year. The change were mainly due to the reversal of SBC expenses caused by strategic workforce optimization.
Other expenses were RMB38.6 million in the second half of 2024 compared to RMB1.1 million of other income in the same period of 2023. For the full year 2024, our other expenses were RMB63 million compared to RMB4.9 million of other income in previous year. The change was primarily driven by the impairment loss of long-term investment. However, the company has proactively responded and upbeat about its future. Income credits were RMB1,000 in the second half of 2024 compared to RMB148,000 of income tax expenses in the same period of 2023. For the full year 2024, our income tax expenses were RMB64,000 compared to RMB42,000 of income tax credit in previous year.
Net loss was RMB44.9 million in the second half of 2024 compared to RMB36.6 million in the same period of 2023. For the full year 2024, net loss was RMB140.8 million compared to RMB89.2 million in the previous year. Net loss attributable to 36Kr Holdings Inc.'s ordinary shareholders was RMB42.3 million in the second half of 2024 compared to RMB37.7 million in the same period of 2023. For the full year 2024, the number was RMB136.6 million compared to RMB90 million in the previous year.
Basic and diluted net loss per ADS were both RMB19.999 in the second half of 2024 compared to RMB17.977 in the same period of 2023. For the full year 2024, the number were both RMB64.795 compared to RMB47.132 (sic – see quarterly results report, "RMB43.132") in the previous year. As of December 31, 2024, the company had cash, cash equivalents and short-term investments of RMB92.5 million (sic – see quarterly results report, "RMB91.7 million").
Well, this concludes all our prepared remarks today. We will now open the call to questions. Operator, please go ahead.

Question and Answer Session

Operator

(Operator Instructions) [Zhang Yanda], SWS Research.

(spoken in foreign language) Well, thank you for your question. I will translate your question in English. The company's overall advertising revenue declined this year. What's the company's outlook for its advertising business moving forward?

Dagang Feng

(interpreted) First of all, in 2024, we proactively optimized our advertising products and advertiser customer base, adjusting certain low-margin and high-risk advertising businesses. This strategic move resulted in a greater reduction in development costs and expenses, driving continuous improvement in the overall profitability of our advertising business.
Although our overall advertising revenue declined slightly, our Internet sector key accounts in the leading brand customers remained stable in 2024. We maintained strong partnerships with key accounts like Alibaba, JD.com, Lenovo and Huawei. Additionally, leveraging the content influence of our WeChat content-specific accounts, including Oh! Youth and TIDE, we continuously accelerated growth in our high-quality customer base. By consistently meeting our customers' diverse content marketing needs, we continued to attract premium customers across sectors such as food and beverage, restaurant chains, sports and outdoor, beauty and personal care, home appliances and more. We onboarded various premium global brands as partners, including Apple, Arc'teryx, (inaudible), KFC and P&G with the proportion of new customers consistently on the rise.
We are cautiously optimistic about our advertising growth trajectory for 2025. Despite the macroeconomic headwinds, we continue to deepen our expertise in key content verticals that matter mostly to our clients, such as AI and global expansion, among others. By empowering customers across diverse industries with premium content solutions and constantly optimizing our products and client structure, we are confident we can strengthen our advertising business resilience.
Thank you for your question. Anymore -- do you have more questions?

(spoken in foreign language) Throughout 2024, what progress has the company made in reducing costs and improving efficiency.

Dagang Feng

(interpreted) Firstly, through rigorous cost control and cost structure optimization, our gross margin rebounded to over 50% in the second half of the year.
Secondly, as for expenses, we implemented an area for cost cutting in the efficiency enhancement initiatives, including relocating to an office building with lower rental costs, streamlining our tech and R&D teams, adjusting unprofitable businesses, improving workforce efficiency in cooperations and upgrading our organizational structure, et cetera.
Additionally, we are integrating AI technology and AI tools on all fronts, effectively saving costs and elevating efficiency.
These initiatives led to a significant reduction in nonoperating expenses in the second half of 2024, down by over 50% compared to the same period of 2023. Meanwhile, our operating expense ratio declined by 17% year-over-year. As a result, we vastly narrowed our operating losses compared to the same period of 2023.
In 2025, the company will continue to refine its products, customer base in organizational structure to further enhance overall profitability. That's all for the answer. Thank you for your question. Do you have more questions?

Operator

Rui Yin, Sealand Securities.

Rui Yin

(spoken in foreign language) Thank you for your question from Sealand. What led the decline in the full year revenue from enterprise value-added services? Can you share the outlook for this year's revenue from enterprise value-added services?

Dagang Feng

(interpreted) Small and medium enterprises and government institutions made up the majority of our enterprise value-added services clients, and they are relatively more affected by macroeconomic dynamics. Uncertainties at the macro level may prompt small and medium enterprises to certain -- to curtail spending on consulting and offline initiatives. While government institutions may implement budget cuts, these factors collectively contributed to the decline in demand for enterprise value-added services.
Additionally, one more important reason. This year, we strategically restructured our existing network of regional outlets and once again optimized our service architecture and offerings for government in the public services system. As a result, we scaled down low-margin unprofitable local government projects, leading to a decline in revenue from enterprise value-added services. But on the upside, this strategic adjustment has optimized our business and the product portfolio, reinforcing both sustainability and profitability.
In 2025, we plan to carry on many of our legacy IP events, including WAVES, our signature gathering designed for individual customers, and WISE, our flagship year-end summit, along with a variety of industry-specific sharing programs and forums that cater to diverse customer segments like AI Partner. These activities will lay the groundwork for revenue growth in enterprise value-added services.
Moreover, we will continue to expand initiatives related to global expansion within our enterprise value-added services in 2025, sustaining our strong globalization momentum from 2024. In addition to Southeast Asia, Japan, the Middle East and Europe, we will further strengthening -- strengthen our global network and collaborate with the China Council for the Promotion of International Trade Beijing Sub-Council to tap into additional resources from Beijing-based service providers specializing in global expansion-related solutions and enterprises seeking global expansion. At the beginning of this year, we made our first foray into operating a local government's global expansion service center in our capacity as a media entity, partnering with Hangzhou Qiantang New Area Construction and Investment Group Company for the Chinese Enterprise International Service Center Operation projects.
Moving forward, 36Kr will remain committed to expanding and integrating cooperated resources, fostering synergy within an extensive global partnership ecosystem. This will enable us to serve Chinese businesses and institutions in their international ventures, empowering Chinese businesses' global expansion while driving 36Kr's revenue growth. Thank you for your question. Do you have more questions?

Rui Yin

(spoken in foreign language) How does the company position itself in generative AI across content and product offerings?

Dagang Feng

(interpreted) Thank you for your question. Before DeepSeek gained widespread attention, we were the only tech media that worked worldwide to have exclusively interviewed the DeepSeek's Founder, Liang Wenfeng twice. We were also the first in the industry to report on key industry developments like six AI tigers faced the exit from pre-training and GPU leasing dilemma for AI computing centers. In 2024, we also hosted the highly influential AI Partner Summit for AI subverticals. This achievement underscored our broad and deep coverage of China's AI community, amplified by our network's extensive reach.
As I just mentioned, the company launched an area of AI-powered products in 2024, including AI Text to Image, AI Lab, AI Financial Report Interpretation, AI Media Coverage and 36Kr Corporate Omni Intelligence among others. Notably, AI Media Coverage has covered over 330 companies, highlighting their latest initiatives in fundraising ventures. And we integrated the [DeepSeek] model in February 2025. Meanwhile, 36Kr Corporate Omni Intelligence currently covers over 700 -- 7,800 public companies listed in Mainland China and Hong Kong. Subscriptions for its daily reports have reached more than [3,000] and with a cumulative user base of more than [6,000].
In 2025, we will continue to develop our AI content ecosystem, maintaining our edge in covering the latest AI trends in consistently delighting users with premium content associated with AIGC technology. We will also further integrate AIGC technology with content production to unlock new avenues for success. Thank you for your question.

Operator

As there are no further questions, I'd now like to turn the call back over to the company for closing remarks.

Thank you once again for joining us today. If you have further questions, please feel free to contact 36Kr's Investor Relations through the contact information provided on our website.

Operator

This concludes this conference call. You may now disconnect your line. Thank you.

Portions of this transcript that are marked (interpreted) were spoken by an interpreter present on the live call. The interpreter was provided by the company sponsoring this event.