36Kr | Significant Achievements in Cost Reduction and Efficiency Enhancement, AI and Industry Services Drive New Growth

$36KR Holdings (KRKR.US)$ On September 26, 2025, 36Kr released its unaudited financial report for the first half of 2025 and held an earnings conference call.

I. Cost Reduction and Efficiency Improvement Achieve Surpassing Results; Profit Turning Point Accelerates

In the first half of 2025, 36Kr continued to focus on the dual themes of 'quality enhancement' and 'cost reduction,' achieving a leapfrog improvement in financial performance with significant optimization across key metrics.

Revenue quality improved significantly in the first half of 2025, with total revenue reaching RMB 93.2 million. Online advertising revenue amounted to RMB 74.5 million, maintaining stable cooperation with leading clients such as Alibaba, ByteDance, JD.com, Huawei, and Lenovo. Advertising revenue related to AI/large models increased by over 50% year-on-year, while advertising revenue from youth-oriented sub-media grew by 30% year-on-year. Continued focus on high-margin businesses led to a counter-cyclical increase in gross margin to 54.4%, a year-on-year growth of 10 percentage points.

In the first half of the year, 36Kr achieved remarkable results in cost control. Operating expenses decreased by nearly half (52.3%) compared to the same period in 2024, reaching RMB 55.86 million, while net losses narrowed by 95% year-on-year to just RMB 4.8 million, marking the best performance in recent years.

II. Content Ecosystem Builds Moat, AI and Industry Services Drive Growth Breakthroughs

In terms of content ecosystem, 36Kr has adhered to an all-channel, multi-format layout, achieving new highs in user scale, content engagement, and IP summit exposure. As of June 2025, the total number of followers across platforms reached 36.57 million, a year-on-year increase of 9.9%, marking continuous growth for 17 consecutive quarters. The number of followers on its video account grew by 69% year-on-year, while the 'Dark Surge' WeChat Official Account followers increased by 44% year-on-year. Both WAVES and AI Partner IP summits achieved over 100 million online views. During the World Artificial Intelligence Conference held in July 2025, 36Kr, as a specially supported media partner, provided comprehensive content coverage and multi-dimensional reporting, exploring new commercialization models.

In AI technology, 36Kr has achieved a commercial closed loop from content empowerment to product implementation, launching multiple AI tools such as 'AI Seeking Coverage' and '36Kr Enterprise Full Intelligence.' The former has generated 993 AI-driven reports cumulatively, while the latter has accumulated 25,000 users. As the only media globally to conduct two exclusive interviews with the founder of DeepSeek, 36Kr launched the 'Disruptor Plan,' solidifying its leading edge in content density and expertise within the AI sector.

In terms of industrial services, 36Kr’s outbound service model has taken root through collaboration with Hangzhou Qiantang New Area to operate the 'China Enterprise International Service Center.' In the first half of the year, it hosted over 10 outbound-themed events and partnered with the Beijing Trade Promotion Council to expand global resources. Leveraging the '36Kr Future Industry' channel, which focuses on low-altitude economy, commercial spaceflight, and advanced manufacturing, it has connected more than 200 industry chain enterprises and local governments.

III. Focus on Three Key Directions, Strive for Break-Even

In the second half of 2025, 36Kr will continue to strengthen its core advantages, driving the business towards 'profitable growth.' It will prioritize investments in three key areas: upgrading original content, commercializing AI products, and scaling industrial services to push the company toward break-even.

Feng Dagang, Chairman and CEO of 36Kr, stated: 'The operating results in the first half of 2025 have validated the effectiveness of our ‘Content + Technology + Industry’ strategy. Moving forward, we will continue to leverage AI technology as the engine, deepen the moat of our content ecosystem, and drive the company to achieve break-even and move towards sustained profitability, creating greater value for new economy enterprises and investors.'

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