Press Release: 36Kr Holdings Inc. Reports Unaudited Financial Results for the Second Half and Fiscal Year 2024

Dow Jones
11 Mar

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. 

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."

___________________________

(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.

(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.

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.

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 loss(6) 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 ADS(7) 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. 
 
   -- 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 loss(6) 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 ADS(7) were both RMB64.795 (US$8.877) in fiscal year 2024, compared to RMB43.132 in fiscal year 2023.

___________________________

(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.

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.

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

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

 
 
                          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 
                            ===========   ===========   =========== 
 
 
 
                                   36Kr Holdings Inc. 
              UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE 
                                      INCOME/(LOSS) 
 
                               Six Months Ended               Twelve Months Ended 
                         -----------------------------  -------------------------------- 
                                    December  December 
                         December     31,       31,     December   December    December 
                         31, 2023     2024      2024    31, 2023   31, 2024    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              $(583.SI)$      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 
 
 
                                 36Kr Holdings Inc. 
               UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS 
 
                             Six Months Ended              Twelve Months Ended 
                       ----------------------------  ------------------------------- 
                       December  December  December  December 
                         31,       31,       31,       31,     December    December 
                         2023      2024      2024      2023    31, 2024    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) 
                       =======   =======   =======   =======   ========   ======= 
 

(END) Dow Jones Newswires

March 11, 2025 05:00 ET (09:00 GMT)

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