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36Kr Holdings Inc
(NASDAQ:KRKR)
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Rating:69Neutral
Price Target:
$3.50
▲(11.11% Upside)
Action:Reiterated
Date:08/20/26
KRKR scores 69 primarily due to improving fundamentals and a strong, AI-driven growth and margin narrative from the latest earnings call, reinforced by an inexpensive valuation (low P/E). The score is moderated by still-uneven financial history (revenue decline/volatility) and technicals that are positive but not yet firmly above longer-term trend levels (below the 200-day average).
Positive Factors
Revenue Growth and Margin Expansion
Strong 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 Profit
The 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.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth and Margin Expansion
Strong 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.
Read all positive factors
36Kr Holdings Inc (KRKR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.20M
Dividend YieldN/A
Average Volume (3M)9.53K
Price to Earnings (P/E)73.9
Beta (1Y)0.47
Revenue Growth20.48%
EPS GrowthN/A
CountryUS
Employees295
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)-2.16
Shares Outstanding1,781,645
10 Day Avg. Volume4,041
30 Day Avg. Volume9,528
Financial Highlights & Ratios
PEG Ratio-1.09
Price to Book (P/B)10.94
Price to Sales (P/S)6.18
P/FCF Ratio74.73
Enterprise Value/Market Cap>-0.01
Enterprise Value/Revenue>-0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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...
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 inve...
36Kr Holdings Inc Earnings Call Summary
Earnings Call Date:Aug 20, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 31, 2027
Earnings Call Sentiment Positive
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.
Read all updates
Q2-2026 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
55
Neutral
Balance Sheet
67
Positive
Cash Flow
62
Positive
| 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 | -25.56M | -72.66M |
| 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 | 0.00 | 18.86M | -33.48M | -127.56M | -6.64M | 192.78M |
| Operating Cash Flow | 0.00 | 19.01M | -32.99M | -122.16M | -4.99M | 194.96M |
| Investing Cash Flow | 0.00 | 48.02M | 32.48M | 20.17M | 43.31M | -158.00M |
| Financing Cash Flow | 0.00 | 9.75M | -3.61M | 481.00K | 5.12M | -23.00K |
36Kr Holdings Inc Technical Analysis
Negative
3.15
Price Trends
2.92
Positive
3.17
Negative
3.71
Negative
Market Momentum
0.04
Positive
51.58
Neutral
45.71
Neutral
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 3.15 is above the 20-day moving average (MA) of 3.12, above the 50-day MA of 2.92, and below the 200-day MA of 3.71, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 51.58 is Neutral, neither overbought nor oversold. The STOCH value of 45.71 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
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $1.67B | 13.32 | 12.78% | 4.26% | 23.24% | 75.74% | |
69 Neutral | $6.20M | 73.94 | 9.05% | ― | 20.48% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
52 Neutral | $67.90M | -0.15 | 9301.18% | 1.68% | -25.24% | -83.32% | |
49 Neutral | $129.77M | -27.31 | -1.63% | 408.47% | -11.02% | 82.53% | |
47 Neutral | $171.83M | -1.95 | -7.89% | ― | -13.39% | -332.07% |
* Communication Services Sector Average
KRKR
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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 advert...
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.