36Kr Holdings Posts RMB16.2M H2 Profit, Gross Margin Up 8pp

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36Kr Holdings posted H2 net income of RMB16.2 million and full-year net income of RMB11.4 million for 2025, reversing prior-year losses of RMB44.9 million and RMB140.8 million. H2 revenues rose 4.7% to RMB134.8 million and gross margin widened by 8.0 pp to 60.0%.

1. H2 2025 Financial Results

In the six months ended December 31, 2025, 36Kr achieved net income of RMB16.2 million compared to a net loss of RMB44.9 million a year earlier. Total revenues climbed 4.7% to RMB134.8 million, while cost of revenues fell 12.6% to RMB54.0 million, driving gross profit up 20.8% to RMB80.8 million and lifting gross margin to 60.0%.

2. Fiscal Year 2025 Performance

For the full year, 36Kr returned to profitability with net income of RMB11.4 million versus a net loss of RMB140.8 million in 2024. Annual revenues were RMB227.9 million, a slight 1.4% decline, while cost reductions of 18.8% and a 36.1% cut in operating expenses supported a 17.1% rise in gross profit to RMB131.5 million and a 57.7% gross margin.

3. Segment Revenue and Margin Trends

Online advertising services generated RMB105.2 million in H2, up 5.0%, and RMB179.7 million for the year, down 0.5%, from 2024 levels. Enterprise value-added services grew 7.7% to RMB20.9 million in H2 and 1.2% to RMB33.2 million for 2025. Subscription revenues dipped 3.3% in H2 and 14.2% for the year, reflecting shifts in individual and institutional uptake.

4. Outlook and Strategy

With 36.8 million followers marking 19 consecutive quarters of growth, management plans to leverage content innovation and AI integration to sustain operational efficiency and explore new commercialization opportunities. Ongoing cost optimization efforts aim to maintain cash flow and support high-quality expansion in China’s New Economy sectors.

Sources

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