36Kr Holdings Inc (KRKR) AI Stock Analysis

36Kr Holdings Inc

(NASDAQ:KRKR)

Select Model

Rating:60Neutral

Price Target:$3.50▲(20.69% Upside)

Action:reiterated

Date:08/20/26

The overall score of 60 reflects a company in the early stages of a turnaround. The most significant positive factor is the strong operational momentum and return to profitability highlighted in the recent earnings call, supported by an attractive P/E valuation. These strengths are counterbalanced by a weak financial foundation, marked by years of revenue decline and a significantly eroded balance sheet. Technicals show improving short-term momentum, but the stock remains in a longer-term downtrend.

Positive Factors

Revenue Growth and Margin ExpansionStrong growth across advertising and enterprise services, combined with substantial margin expansion, indicates better monetization and operating leverage. If sustained, this can improve the company’s earnings capacity and support reinvestment in its platform.

Negative Factors

Revenue Volatility and Thin Operating ProfitThe recent rebound has not yet established a stable long-term growth record. Historical contraction and a thin operating margin leave earnings vulnerable to weaker demand, pricing pressure, or modest increases in content and corporate costs.

36Kr Holdings Inc (KRKR) vs. SPDR S&P 500 ETF (SPY)

Market Cap: $5.17M
Dividend Yield: ―
Average Volume (3M): 6,397
Price to Earnings (P/E): 68.8
Beta (1Y): 0.41
Revenue Growth: 20.48%
EPS Growth: ―
Country: US
Employees: 295
Sector: Communication Services
Sector Strength: 60
Industry: Advertising Agencies

36Kr Holdings Inc Business Overview & Revenue Model

Company Description

Operating out of Beijing, People's Republic of China, 36Kr Holdings Inc., established in 2010, specializes in delivering a dual offering of journalistic content and commercial services. Its primary content division generates and circulates diverse in...

How the Company Makes Money

36Kr’s revenue model is primarily built around monetizing its audience and business network in China’s technology and startup ecosystem. Key revenue streams include: (1) Online advertising and marketing services: the company sells advertising invento...

36Kr Holdings Inc Earnings Call Summary

Earnings Call Date:Aug 19, 2026(Q2-2026)|% Change Since:-11.18%|Next Earnings Date:May 31, 2021

Earnings Call SentimentPositive

The call presents a predominantly positive financial and operational picture: revenue grew 33.7% YoY with a strong gross profit expansion (63.1%) and a meaningful improvement in gross margin (up ~12 percentage points). The company turned to GAAP profitability (net income ~RMB 15.4M), improved cash balances, and showed broad content, product and event traction—particularly driven by AI-related demand. Key challenges include a decline in subscription revenue (~9.4%), increased other expenses tied to long-term investment losses, and higher G&A, as well as some concentration of growth in the AI advertising segment. Management emphasizes disciplined investment with a focus on profitability and replicating industrial-service models regionally. Overall, positive financial momentum and strong commercial execution outweigh the noted operational and non-operating headwinds.

Positive Updates

Revenue Growth and Scale

Total revenue increased 33.7% year-over-year to RMB 124.6 million in 1H2026 (from RMB 93.2 million). Online advertising, the largest revenue component, grew 38.9% YoY to RMB 103.5 million.

Negative Updates

Subscription Revenue Decline

Subscription services revenue declined to RMB 5.8 million in 1H2026 from RMB 6.4 million in 1H2025, a decrease of ~9.4%, attributed to a strategic shift in the segment's customer composition.

Company Guidance

Management guided that near-term growth will be driven by AI customer acquisition and commercialization of sub-vertical content and AI products while steadily increasing the share of industrial services, all with a disciplined, ROI-focused investment approach to preserve profitability and cash: H1 proof points cited include total revenue RMB124.6M (+33.7% YoY), online advertising RMB103.5M (+38.9%), enterprise value-added services RMB15.3M (+25.4%), subscriptions RMB5.8M, gross profit RMB82.7M (+63.1%) with gross margin 66.4% (+12 ppt), net income RMB15.4M and cash & short‑term investments RMB124.2M (up 6.9% from RMB116.1M). They emphasized customer and product metrics underpinning that guidance: ~40% of new customers from AI and ~1/3 of customers were new in the period; content reach 36.52M followers (video followers 9.63M), 75 short videos produced (one Douyin hit >8.4M views, a commercial video 230M exposures), live streams of 1.358M views/80M+ impressions and 51.8M views/61k live viewers, events generating ~120M and ~118M views with >1,000 and >2,000 onsite attendees, project recommendations supporting 1,117 projects (conversion +~80% YoY), the Omni‑intelligence mini program at 55,200 users (>10k subscribers, +50.8%/+61.7% vs end‑2025), and AI review hub traction (401,962 articles reported, 42 companies listed, 260 new reviewers) — all of which management expects to scale while maintaining margin expansion and a lean cost base.

36Kr Holdings Inc Financial Statement Overview

Summary

Financial performance is weak. The Income Statement (Score: 45) shows a return to profitability but with a significant 32% revenue decline. The Balance Sheet (Score: 35) is concerning due to a sharp reduction in shareholders' equity. Cash Flow (Score: 40) has turned positive but offers limited debt coverage. Overall, the financial health is fragile despite recent improvements.

Income Statement

45Neutral

Balance Sheet

35Negative

Cash Flow

40Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	340.19M	227.94M	231.07M	340.19M	322.50M	316.78M
Gross Profit	182.02M	131.50M	112.34M	182.02M	184.65M	187.94M
EBITDA	-93.07M	20.62M	-67.12M	-79.83M	-39.18M	-88.14M
Net Income	-89.98M	11.17M	-136.63M	-89.98M	21.94M	-89.57M
Balance Sheet
Total Assets	458.97M	297.68M	276.19M	458.97M	571.37M	501.74M
Cash, Cash Equivalents and Short-Term Investments	116.96M	116.21M	91.71M	116.96M	184.78M	216.10M
Total Debt	45.73M	39.48M	29.60M	45.73M	56.34M	21.89M
Total Liabilities	197.11M	168.53M	157.94M	197.11M	225.99M	194.47M
Stockholders Equity	251.98M	128.87M	118.01M	251.98M	338.11M	299.40M
Cash Flow
Free Cash Flow	0	18.86M	-33.48M	-127.56M	-6.64M	192.78M
Operating Cash Flow	0	19.01M	-32.99M	-122.16M	-4.99M	194.96M
Investing Cash Flow	0	48.02M	32.48M	20.17M	43.31M	-158.00M
Financing Cash Flow	0	9.75M	-3.61M	481.00K	5.12M	-23.00K

36Kr Holdings Inc Technical Analysis

Technical Analysis SentimentNegative

Last Price2.90

Price Trends

50DMA3.06Negative

100DMA2.98Negative

200DMA3.41Negative

Market Momentum

MACD-0.04Positive

RSI40.53Neutral

STOCH49.31Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KRKR, the sentiment is Negative. The current price of 2.90 is below the 20-day moving average (MA) of 3.01, below the 50-day MA of 3.06, and below the 200-day MA of 3.41, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 40.53 is Neutral, neither overbought nor oversold. The STOCH value of 49.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KRKR.

36Kr Holdings Inc Risk Analysis

36Kr Holdings Inc disclosed 89 risk factors in its most recent earnings report. 36Kr Holdings Inc reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

36Kr Holdings Inc Peers Comparison

Overall Rating

UnderperformOutperform

Sector (60)

Financial Indicators

KRKR against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OPRA	79Outperform	$1.37B	10.93	12.78%	5.19%	23.24%	75.74%
Sector *	60Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
KRKR	60Neutral	$5.72M	68.82	9.05%	―	20.48%	―
ZH	48Neutral	$261.97M	-2.29	-7.89%	―	-13.39%	-331.94%
SEAT	44Neutral	$25.97M	-0.06	9301.18%	―	-25.24%	-83.32%
DOYU	43Neutral	$110.45M	-23.05	-1.63%	―	-11.02%	82.53%

* Communication Services Sector Average

Performance Comparison

KRKR and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
KRKR	36Kr Holdings Inc Adr Class A	2.90	-2.12	-42.23%
OPRA	Opera Limited	15.41	2.41	18.57%
DOYU	Douyu International Holdings	3.66	-3.05	-45.45%
SEAT	Vivid Seats Inc.	2.31	-10.42	-81.85%
ZH	Zhihu, Inc.	2.92	-1.29	-30.64%
GIBO	Gibo Holdings Limited	87.02	36.77	73.17%

36Kr Holdings Inc Corporate Events

36Kr Holdings Turns Profitable as AI-Driven Advertising Boosts H1 2026 Results

Aug 20, 2026

36Kr Holdings Inc., a leading New Economy-focused media and services platform in China, reported unaudited results for the six months ended June 30, 2026, showing stable follower numbers at 36.5 million and a revenue mix dominated by online advertisi...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 20, 2026

36Kr Holdings Inc AI Stock Analysis