KRKRNasdaqServices-Business Services, NECUS GAAP · USD

36Kr Holdings Inc.

36Kr Holdings Inc. is a China-focused media and business services platform centered on New Economy companies. It produces content and data-driven services that connect its audience with online advertising, enterprise value-added services, and subscription offerings, with operations organized around serving companies active in China's technology and innovation ecosystem.

Liikevaihto228milj. USD
−1,4 %v/v
Liikevoitto (EBIT)10,0milj. USD
+112,9 %v/v
EBIT-marginaali4,4%
+38,0 %-yks.v/v
Nettotulos11,4milj. USD
+108,1 %v/v
Vapaa kassavirta18,9milj. USD
+156,4 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−400−2000200400milj. USD2020: 387 milj. USD2020: EBIT −267 milj. USD20202021: 317 milj. USD2021: EBIT −94 milj. USD20212022: 322 milj. USD2022: EBIT −45 milj. USD20222023: 340 milj. USD2023: EBIT −94 milj. USD20232024: 231 milj. USD2024: EBIT −78 milj. USD20242025: 228 milj. USD2025: EBIT 10 milj. USD202522810
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Content and media30 %

Editorial and distribution offerings centered on New Economy topics and industries.

Online advertising35 %

Advertising products sold against its content and audience traffic.

Enterprise value-added services20 %

Customized business services for New Economy and traditional companies.

Subscription services10 %

Paid information and access services for institutional and business users.

Data analytics and database services5 %

Data products and analytical tools supported by its proprietary database.

Asiakkaat

36Kr serves New Economy participants in China, including technology-driven companies, growth-stage businesses, and traditional firms seeking digital and market-insight services. Its offerings also appeal to institutional clients and other business users that need industry content, advertising reach, or subscription access to its data and research platform.

New Economy companies

Buy content exposure, advertising, and business services to reach audiences and support growth.

Enterprise clients

Purchase value-added services and subscription offerings for market insight and business support.

Institutional investors

Use the platform's data, analysis, and industry coverage for investment research and decision-making.

Traditional companies

Use the platform's services to upgrade marketing, branding, and digital engagement capabilities.

Advertisers

Buy ad placements tied to content traffic and the firm's New Economy audience reach.

Strategia

The company’s strategy is to convert its content audience into monetizable services across advertising, subscriptions, and enterprise offerings. It relies on brand influence, traffic generation, and data analytics to deepen engagement with New Economy businesses and expand the value of its platform.

Grow monetization across platform servicesLyhyt aikaväli

Diversifies revenue beyond content and increases value captured from audience traffic.

Deepen data and analytics capabilitiesKeskipitkä aikaväli

Supports better service offerings and improves relevance for customers and advertisers.

Strengthen positioning in China's New EconomyPitkä aikaväli

The company competes by being closely aligned with innovation-oriented businesses and industry information demand.

Maantiede

36Kr is centered on mainland China, where it serves New Economy participants and maintains its principal office in Beijing. Its business also reaches Hong Kong, international users, and U.S.-listed investor communications, but the core operating exposure remains tied to China’s digital and innovation economy.

Riskit

The company is exposed to demand fluctuations in China's New Economy advertising and business services markets, where client spending can be cyclical and competitive. Its results also depend on maintaining audience traffic, content relevance, and data usefulness, while broader China regulatory and macroeconomic conditions can affect customer budgets and platform monetization.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Advertising budget cyclicality1China regulatory and macro exposure2Traffic and audience engagement risk3Competitive pressure in media and data services4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Advertising budget cyclicalityVaikutus: KorkeaTodennäköisyys: Korkea

    Online advertising revenue depends on customer willingness to spend on marketing and promotion.

    Kohdistuu: online advertising services

  2. China regulatory and macro exposureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The business is concentrated in China, so policy shifts and slower economic activity can affect demand.

    Kohdistuu: mainland China operations

  3. Traffic and audience engagement riskVaikutus: KeskitasoTodennäköisyys: Korkea

    The platform's monetization depends on maintaining content quality and user reach.

    Kohdistuu: content and media platform

  4. Competitive pressure in media and data servicesVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Users and advertisers can shift to alternative platforms with stronger reach or tools.

    Kohdistuu: New Economy information services

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition across service lines

Different products may be recognized at different times depending on delivery and contract terms.

Vaikutus: Affects reported revenue timing and comparability between periods.

Seasonality and quarterly volatility

Advertising and enterprise activity can vary by customer budget cycles and project timing.

Vaikutus: Can create uneven quarterly revenue and margin patterns.

Non-GAAP adjustments

Adjusted net income and adjusted EBITDA exclude items management views as non-core.

Vaikutus: Can materially change how operating performance is interpreted.

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

36Kr Holdings Inc. (Nasdaq) – Services-Business Services, NEC | Analyysi – Clarifo