36Kr (KRKR) H2 2024 earnings summary

Executive summary

• Achieved significant improvements in operating efficiency in 2024, with a focus on cost control, business structure optimization, and AI integration.

• Gross margin rebounded to over 50% in H2 2024, and operating expenses dropped by over 50% year-over-year.

• Total revenues for FY2024 were RMB 231.1 million, down from RMB 340.2 million year-over-year.

• Net loss widened to RMB 140.8 million in FY2024 from RMB 89.2 million in FY2023.

• Expanded content ecosystem, diversified distribution channels, and deepened engagement with younger audiences and new verticals.

Financial highlights

• Total revenue was RMB 231.1 million for FY2024 (down from RMB 340.2 million YoY).

• Online advertising revenue for 2024 was RMB 180.6 million (down from RMB 238.7 million YoY).

• Enterprise value-added services revenue was RMB 32.8 million for 2024 (down from RMB 67.3 million YoY).

• Gross profit for 2024 was RMB 112.3 million (down from RMB 182 million YoY); gross margin was 48.6% (down from 53.5% YoY).

• Cash and equivalents as of Dec 31, 2024, were RMB 91.7 million.

Outlook and guidance

• Optimistic about advertising business resilience in 2025, focusing on AI and global expansion content verticals.

• Plans to continue cost optimization, product and client structure refinement, and AI integration to enhance profitability.

• Management plans to continue AI-driven content and commercialization strategies in 2025.

• Enterprise value-added services expected to benefit from ongoing IT events and expanded global initiatives.

• No specific quantitative guidance provided for FY2025.