$KRKR

36Kr Holdings Inc.

CIK:0001779476|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/ (LOSS) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues:
Total revenues	¥ 227,937	¥ 231,070	¥ 340,185
Cost of revenues	(96,440)	(118,734)	(158,169)
Gross profit	131,497	112,336	182,016
Operating expenses:
Sales and marketing expenses	(66,408)	(82,596)	(127,519)
General and administrative expenses	(42,365)	(93,100)	(107,034)
Research and development expenses	(12,706)	(14,404)	(41,681)
Total operating expenses	(121,479)	(190,100)	(276,234)
Loss from operations	10,018	(77,764)	(94,218)
Other income/(expenses):
Share of loss from equity method investments	(723)	(3,726)	(523)
Gain on disposal of subsidiaries	355	839	3,366
Long-term investment (loss)/income, net	418	(62,763)	(8,079)
Short-term investment income	529	623	1,312
Government grant	176	491	1,147
Others, net	676	1,577	7,706
(Loss)/income before income tax	11,449	(140,723)	(89,289)
Income tax credit/(expenses)	(21)	(64)	42
Net (loss)/income	11,428	(140,787)	(89,247)
Net (income)/loss attributable to non-controlling interests	(262)	4,160	(733)
Net (loss)/income attributable to 36Kr Holdings Inc.'s ordinary shareholders	11,166	(136,627)	(89,980)
Other comprehensive income
Foreign currency translation adjustments	(416)	369	570
Total other comprehensive income	(416)	369	570
Total comprehensive (loss)/income	11,012	(140,418)	(88,677)
Comprehensive (income)/loss attributable to non-controlling interests	(262)	4,160	(733)
Comprehensive (loss)/income attributable to 36Kr Holdings Inc.'s ordinary shareholders	¥ 10,750	¥ (136,258)	¥ (89,410)
Net (loss)/income per ordinary share (RMB)
-Basic (in dollars per share)	¥ 0.011	¥ (0.13)	¥ (0.086)
-Diluted (in dollars per share)	¥ 0.011	¥ (0.13)	¥ (0.086)
Weighted average number of ordinary shares used in per share calculation:
-Basic (in shares)	1,058,471,312	1,054,310,601	1,043,057,081
-Diluted (in shares)	1,060,023,088	1,054,310,601	1,043,057,081
ADS
Net (loss)/income per ordinary share (RMB)
-Basic (in dollars per share)	¥ 5.274	¥ (64.795)	¥ (43.132)
-Diluted (in dollars per share)	¥ 5.266	¥ (64.795)	¥ (43.132)
Weighted average number of ordinary shares used in per share calculation:
-Basic (in shares)	2,116,943	2,108,621	2,086,114
-Diluted (in shares)	2,120,046	2,108,621	2,086,114
Online advertising services
Revenues:
Total revenues	¥ 179,681	¥ 180,609	¥ 238,701
Enterprise value-added services
Revenues:
Total revenues	33,157	32,832	67,297
Subscription services
Revenues:
Total revenues	¥ 15,099	¥ 17,629	¥ 34,187

CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net (loss)/income	¥ 11,428	¥ (140,787)	¥ (89,247)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Depreciation of property and equipment	1,913	2,196	1,733
Amortization of intangible assets	311	368	266
Share-based compensation expenses/(gain)	13	(178)	4,672
Non-cash operating lease expense	8,201	7,586	11,240
Allowance for credit losses	3,949	32,471	28,210
Losses from disposal of property, equipment and software	33	294	42
Exchange losses/(gains)	25	(24)	21
Fair value changes of short-term investments	(529)	(58)	(235)
Long-term investment loss/(income), net	(418)	62,763	8,079
Share of loss from equity method investments	723	3,726	523
Disposal gain on subsidiaries	(355)	(839)	(3,366)
Changes in operating assets and liabilities:
Accounts receivable	(3,210)	24,815	(38,816)
Receivables due from related parties	(166)	(16)	676
Prepayments and other current assets	4,614	(3,041)	60
Accounts payable	(12,991)	712	6,911
Salary and welfare payables	(6,729)	(3,744)	(16,123)
Taxes payable	1,449	(3,355)	(4,713)
Deferred revenue	20,598	(846)	(1,589)
Amounts due to related parties	1,219	528	(51)
Accrued liabilities and other payables	(1,829)	(7,624)	(5,065)
Lease liabilities	(9,241)	(7,937)	(25,391)
Net cash used in operating activities	19,008	(32,990)	(122,163)
Cash flows from investing activities:
Purchase of property and equipment	(149)	(444)	(5,376)
Disposal of property and equipment	60
Purchase of intangible assets		(42)	(22)
Purchase of short-term investments	(273,343)	(245,750)	(380,498)
Proceeds from maturities of short-term investments	326,819	265,508	345,904
Cash received from customer in relation to advertisement agent services	3,038	15,984	68,838
Net cash upon disposal of subsidiaries	198	(2,992)	85
Investment in long-term investments	(11,600)	(4,050)	(9,500)
Prepayment of an equity investment		(1,000)
Cash paid to acquire subsidiaries		(188)
Cash received from disposal of equity investees	3,000	5,450	742
Net cash provided by investing activities	48,023	32,476	20,173
Cash flows from financing activities:
Proceeds from bank loan	29,950	10,000	14,950
Repayment of bank loan	(20,000)	(9,950)	(14,950)
Proceeds from employee options exercised	1	18
Cash received from the sale of a non-controlling interest			226
Capital injection from non-controlling interest shareholders			255
Dividends paid to non-controlling shareholder of a subsidiary		(3,675)
Cash paid to acquire non-controlling interests of subsidiaries	(202)
Net cash provided by/(used in) financing activities	9,749	(3,607)	481
Effect of exchange rate changes on cash, cash equivalents and restricted cash held in foreign currencies	(227)	245	362
Net (decrease)/increase in cash, cash equivalents and restricted cash	76,553	(3,876)	(101,147)
Cash, cash equivalents and restricted cash at beginning of the year	37,588	41,464	142,611
Cash, cash equivalents and restricted cash at end of the year	114,141	37,588	41,464
Supplemental disclosures of cash flow information:
Cash paid for income taxes, net of tax refund	¥ (30)	(206)	(93)
Supplemental schedule of non-cash investing and financing activities:
Property and equipment purchases financed by other payable		¥ (250)	(1,336)
Intangible assets purchases financed by other payable			¥ (1,073)

CONSOLIDATED BALANCE SHEETS - CNY (¥) ¥ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	¥ 102,239	¥ 36,766
Restricted cash	11,902	822
Short-term investments	2,000	54,947
Accounts receivable, net	61,800	65,617
Receivables due from related parties	304	104
Prepayments and other current assets	11,629	17,171
Total current assets	189,874	175,427
Non-current assets:
Property and equipment, net	3,958	5,817
Intangible assets, net	1,172	1,485
Long-term investments	82,939	74,858
Operating lease right-of-use assets, net	19,548	18,606
Total non-current assets	107,617	100,766
Total assets	297,491	276,193
Current liabilities:
Accounts payable (including amounts of the consolidated variable interest entity ("VIE") and its subsidiaries without recourse to the primary beneficiary of RMB 59.84 million and RMB 46.69 million as of December 31, 2024 and 2025, respectively)	46,694	59,835
Salary and welfare payables (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB 19.22 million and RMB 13.96 million as of December 31, 2024 and 2025, respectively)	23,938	30,666
Taxes payable (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB Nil and RMB 0.66 million as of December 31, 2024 and 2025, respectively)	4,095	2,648
Deferred revenue (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB 19.30 million and RMB 39.90 million as of December 31, 2024 and 2025, respectively)	39,900	19,301
Amounts due to related parties (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB 0.79 million and RMB 2.01 million as of December 31, 2024 and 2025, respectively)	2,008	789
Accrued liabilities and other payables (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB 11.15 million and RMB 8.39 million as of December 31, 2024 and 2025, respectively)	12,330	15,103
Short-term bank loan (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB 4.00 million and RMB 13.95 million as of December 31, 2024 and 2025, respectively)	19,950	10,000
Operating lease liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB 7.86 million and RMB 8.08 million as of December 31, 2024 and 2025, respectively)	8,078	7,860
Total current liabilities	156,993	146,202
Non-current liabilities:
Operating lease liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the primary beneficiary of RMB 11.74 million and RMB 11.43 million as of December 31, 2024 and 2025, respectively)	11,426	11,743
Total non-current liabilities	11,426	11,743
Total liabilities	168,419	157,945
Commitments and Contingencies (Note 19)
Shareholders' equity
Additional paid-in capital	2,056,895	2,057,363
Treasury stock (US$ 0.0001 par value; 3,176,411 shares and 2,601,411 shares as of December 31, 2024 and 2025, respectively)	(2,367)	(2,865)
Accumulated deficit	(1,921,092)	(1,932,258)
Accumulated other comprehensive loss	(5,338)	(4,922)
Total 36Kr Holdings Inc.'s shareholders' equity	128,792	118,012
Non-controlling interests	280	236
Total shareholders' equity	129,072	118,248
Total liabilities and shareholders' equity	297,491	276,193
Class A ordinary shares
Shareholders' equity
Ordinary shares	628	628
Class B ordinary shares
Shareholders' equity
Ordinary shares	28	¥ 66
Class C ordinary shares
Shareholders' equity
Ordinary shares	¥ 38