36Kr Holdings Inc. Unveils Financial Performance for 2024

Financial Performance Overview of 36Kr Holdings Inc.

36Kr Holdings Inc. is a leading platform dedicated to serving participants of China's New Economy. Recently, the company announced its unaudited financial results for the second half and the entire fiscal year 2024. This report enlightens stakeholders on how the company has performed, providing key insights into its operational strategies amid market challenges.

Financial Highlights for the Second Half of 2024

During the second half of 2024, 36Kr experienced a significant growth in its follower base, reaching 35.9 million, a 10% increase from the previous year. However, the total revenue recorded was RMB128.7 million (approximately US$17.6 million), marking a decrease compared to RMB200.3 million in the same period of the previous year.

Revenue Breakdown

• Online Advertising Services: RMB100.2 million (US$13.7 million), down from RMB139.8 million.
• Enterprise Value-Added Services: RMB19.4 million (US$2.7 million), down from RMB40.5 million.
• Subscription Services: RMB9.0 million (US$1.2 million), significantly lower than RMB20.0 million.

Despite the revenue drop, the general and administrative expenses saw a remarkable reduction of 58% to RMB30.3 million (US$4.1 million), reflecting the company's efficiency improvements.

Annual Performance Highlights for 2024

For the fiscal year 2024, total revenues amounted to RMB231.1 million (US$31.7 million), a decline from RMB340.2 million in 2023. This downturn was mainly attributed to reduced advertising budgets from clients and strategic changes to refocus on high-margin operations.

Yearly Revenue Insights

• Online Advertising Services: RMB180.6 million (US$24.7 million), down from RMB238.7 million.
• Enterprise Value-Added Services: RMB32.8 million (US$4.5 million), a decrease from RMB67.3 million.
• Subscription Services: RMB17.6 million (US$2.4 million), down from RMB34.2 million.

Operating expenses were also curtailed by 31.2% to RMB190.1 million (US$26 million) compared to the previous year, demonstrating the company's commitment to cost management.

Operational Efficiency and Future Plans

The leadership of 36Kr, including CEO Mr. Dagang Feng, expressed confidence in the company's strategic direction amidst a challenging business climate. The focus on content enrichment and expansion of product offerings has been pivotal in enhancing engagement with users.

CFO Mr. Xiang Li noted that the operational efficiencies attained have allowed the company to maintain a robust gross profit margin above 50% while also exploring AI-driven avenues for growth moving into 2025.

Conclusion

While 36Kr Holdings Inc. faced some downturns in revenue in both the second half and the fiscal year of 2024, the company's consistent improvements in operational costs and commitment to engaging and expanding its customer base position it well for the future. As we look ahead, the company aims to leverage its strategic framework and technological advancements to drive sustainable growth in the rapidly evolving landscape of China's New Economy.

Frequently Asked Questions

What were the total revenues for 36Kr Holdings in 2024?

Total revenues for 36Kr Holdings in 2024 were RMB231.1 million (US$31.7 million).

How did the follower count change for 36Kr in recent years?

The follower count for 36Kr increased by 10% to reach 35.9 million as of December 31, 2024.

What measures did 36Kr take to improve operational efficiency?

36Kr significantly reduced its operating expenses by cutting general and administrative costs and refining its service offerings.

What is the future outlook for 36Kr Holdings?

The management team is focused on innovative content initiatives and leveraging AI technologies to ensure sustainable development going forward.

How does 36Kr Holdings generate revenue?

36Kr Holdings generates revenue through online advertising services, enterprise value-added services, and subscription services.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

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