NASDAQ : KRKR
36Kr Holdings Inc. — Financial statements
Communication Services · Advertising Agencies · China
Last price 2.87 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 5.66M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
36Kr Holdings Inc. (KRKR) reported revenue of 259.35M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 259.35M | 227.94M | 231.07M | 340.19M | 322.50M | 316.78M |
| Cost of Revenue | 95.88M | 96.44M | 118.73M | 158.17M | 137.85M | 128.84M |
| Gross Profit | 163.47M | 131.50M | 112.34M | 182.02M | 184.65M | 187.94M |
| Selling, General & Admin | 112.54M | 108.77M | 175.70M | 234.55M | 174.14M | 234.52M |
| Research & Development | 12.67M | 12.71M | 14.40M | 41.68M | 55.05M | 47.52M |
| Operating Expenses | 125.22M | 121.48M | 190.10M | 276.23M | 229.19M | 282.04M |
| Operating Income | 38.26M | 10.02M | -77.76M | -94.22M | -44.54M | -94.11M |
| Interest & Investment Income | 759.00K | 947.00K | 623.00K | 1.31M | 17.96M | 2.48M |
| Earnings From Equity Investments | -1.03M | -723.00K | -3.73M | -523.00K | 51.00K | -5.47M |
| Other Non Operating Income (Expenses) | 1.48M | 852.00K | 2.07M | 8.85M | 11.50M | 6.59M |
| EBT Excluding Unusual Items | 39.46M | 11.09M | -78.80M | -84.58M | -15.02M | -90.51M |
| Gain (Loss) on Sale of Investments | -7.81M | -62.76M | -8.08M | |||
| Gain (Loss) on Sale of Assets | 355.00K | 839.00K | 3.37M | 38.02M | ||
| Pretax Income | 31.65M | 11.45M | -140.72M | -89.29M | 23.00M | -90.51M |
| Income Tax Expense | 52.00K | 21.00K | 64.00K | -42.00K | 361.00K | 102.00K |
| Earnings From Continuing Operations | 31.60M | 11.43M | -140.79M | -89.25M | 22.64M | -90.61M |
| Minority Interest in Earnings | -481.00K | -262.00K | 4.16M | -733.00K | -694.00K | 1.04M |
| Net Income | 31.12M | 11.17M | -136.63M | -89.98M | 21.94M | -89.57M |
| Net Income to Common | 31.12M | 11.17M | -136.63M | -89.98M | 21.94M | -89.57M |
| Shares Outstanding (Basic) | 2.12M | 2.12M | 2.11M | 2.09M | 2.07M | 2.05M |
| Shares Outstanding (Diluted) | 2.12M | 2.12M | 2.11M | 2.09M | 2.07M | 2.05M |
| EPS (Basic) | 14.67 | 5.27 | -64.79 | -43.13 | 10.61 | -43.69 |
| EPS (Diluted) | 14.67 | 5.27 | -65.00 | -43.13 | 10.50 | -43.69 |
| Free Cash Flow | 18.86M | -33.43M | -127.54M | -6.05M | 193.21M | |
| Free Cash Flow Per Share | 8.90 | -15.86 | -61.14 | -2.93 | 94.24 | |
| Gross Margin | 63.03% | 57.69% | 48.62% | 53.51% | 57.26% | 59.33% |
| Operating Margin | 14.75% | 4.40% | -33.65% | -27.70% | -13.81% | -29.71% |
| Profit Margin | 12.00% | 4.90% | -59.13% | -26.45% | 6.80% | -28.28% |
| Free Cash Flow Margin | 8.27% | -14.47% | -37.49% | -1.88% | 60.99% | |
| EBITDA | 40.31M | 12.24M | -75.20M | -92.22M | -42.62M | -91.45M |
| EBITDA Margin | 15.54% | 5.37% | -32.54% | -27.11% | -13.21% | -28.87% |
| D&A For EBITDA | 2.05M | 2.22M | 2.56M | 2.00M | 1.92M | 2.66M |
| EBIT | 38.26M | 10.02M | -77.76M | -94.22M | -44.54M | -94.11M |
| EBIT Margin | 14.75% | 4.40% | -33.65% | -27.70% | -13.81% | -29.71% |
| Effective Tax Rate | 0.16% | 0.18% | 1.57% | |||
| Revenue as Reported | 259.35M | 227.94M | 231.07M | 340.19M | 322.50M | 316.78M |
| Advertising Expenses | 180.00K | 2.34M | 4.90M | 4.80M | 7.27M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 26.41M | 102.24M | 36.77M | 41.46M | 142.51M | 96.97M |
| Short-Term Investments | 97.58M | 5.53M | 58.22M | 79.80M | 48.06M | 124.90M |
| Cash & Short-Term Investments | 124.00M | 107.76M | 94.98M | 121.27M | 190.57M | 221.86M |
| Accounts Receivable | 50.46M | 61.80M | 65.62M | 139.41M | 197.53M | 180.16M |
| Other Receivables | 198.00K | 304.00K | 104.00K | 69.00K | 858.00K | 3.63M |
| Receivables | 50.66M | 62.10M | 65.72M | 139.48M | 198.39M | 183.79M |
| Prepaid Expenses | 5.38M | 10.71M | 10.00M | 9.38M | 33.75M | |
| Restricted Cash | 200.00K | 11.90M | 822.00K | 100.00K | ||
| Other Current Assets | 13.76M | 2.73M | 3.19M | 1.73M | 988.00K | 3.10M |
| Total Current Assets | 188.61M | 189.87M | 175.43M | 272.47M | 399.43M | 442.51M |
| Property, Plant & Equipment | 19.80M | 23.51M | 24.42M | 41.82M | 33.34M | 16.98M |
| Long-Term Investments | 76.66M | 82.94M | 74.86M | 142.60M | 137.36M | 41.44M |
| Other Intangible Assets | 1.02M | 1.17M | 1.49M | 2.08M | 1.25M | 808.00K |
| Total Assets | 286.09M | 297.49M | 276.19M | 458.97M | 571.37M | 501.74M |
| Accounts Payable | 42.04M | 48.70M | 60.62M | 60.64M | 53.78M | 57.59M |
| Accrued Expenses | 25.30M | 34.60M | 41.69M | 59.04M | 85.23M | 81.97M |
| Short-Term Debt | 10.00M | 19.95M | 10.00M | 9.95M | 9.95M | 5.00M |
| Current Portion of Leases | 8.45M | 8.08M | 7.86M | 8.95M | 31.29M | 16.30M |
| Current Income Taxes Payable | 2.41M | 24.00K | 140.00K | 274.00K | 80.00K | |
| Current Unearned Revenue | 46.51M | 39.90M | 19.30M | 23.43M | 24.57M | 28.86M |
| Other Current Liabilities | 5.74M | 6.72M | 7.96M | 5.18M | 4.08M | |
| Total Current Liabilities | 134.70M | 156.99M | 146.20M | 170.11M | 210.28M | 193.88M |
| Long-Term Leases | 7.47M | 11.43M | 11.74M | 26.83M | 15.09M | 586.00K |
| Other Long-Term Liabilities | 174.00K | 615.00K | ||||
| Total Liabilities | 142.17M | 168.42M | 157.94M | 197.11M | 225.99M | 194.47M |
| Common Stock | 694.00K | 694.00K | 694.00K | 694.00K | 694.00K | 694.00K |
| Additional Paid-In Capital | 2.06B | 2.06B | 2.06B | 2.06B | 2.06B | 2.05B |
| Retained Earnings | -1.91B | -1.92B | -1.93B | -1.80B | -1.71B | -1.73B |
| Treasury Stock | -2.37M | -2.37M | -2.87M | -11.50M | -12.01M | -13.60M |
| Comprehensive Income & Other | -5.88M | -5.34M | -4.92M | -5.29M | -5.86M | -8.99M |
| Total Common Equity | 143.24M | 128.79M | 118.01M | 251.98M | 338.11M | 299.40M |
| Minority Interest | 682.00K | 280.00K | 236.00K | 9.88M | 7.28M | 7.86M |
| Shareholders' Equity | 143.92M | 129.07M | 118.25M | 261.86M | 345.38M | 307.26M |
| Total Liabilities & Equity | 286.09M | 297.49M | 276.19M | 458.97M | 571.37M | 501.74M |
| Total Debt | 25.92M | 39.45M | 29.60M | 45.73M | 56.34M | 21.89M |
| Net Cash (Debt) | 98.07M | 68.31M | 65.38M | 75.54M | 134.24M | 199.97M |
| Net Cash Per Share | 46.18 | 32.22 | 31.01 | 36.21 | 64.88 | 97.54 |
| Filing Date Shares Outstanding | 2.12M | 1.97M | 1.97M | 1.99M | 1.95M | 2.03M |
| Total Common Shares Outstanding | 2.12M | 2.00M | 2.01M | 1.99M | 1.98M | 1.98M |
| Working Capital | 53.91M | 32.88M | 29.23M | 102.36M | 189.15M | 248.62M |
| Book Value Per Share | 67.54 | 64.34 | 58.84 | 126.93 | 170.43 | 151.25 |
| Tangible Book Value | 142.22M | 127.62M | 116.53M | 249.90M | 336.86M | 298.60M |
| Tangible Book Value Per Share | 67.06 | 63.76 | 58.10 | 125.88 | 169.80 | 150.84 |
| Machinery | 10.12M | 11.13M | 10.94M | 8.26M | 20.26M | |
| Leasehold Improvements | 7.69M | 7.69M | 8.78M | 5.03M | 4.97M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 11.17M | -136.63M | -89.98M | 21.94M | -89.57M | |
| Depreciation & Amortization | 2.22M | 2.56M | 2.00M | 1.92M | 2.66M | |
| Loss (Gain) From Sale of Assets | -322.00K | -545.00K | -3.32M | -37.99M | 73.00K | |
| Loss (Gain) From Sale of Investments | -947.00K | 62.70M | 7.84M | -16.58M | -670.00K | |
| Loss (Gain) on Equity Investments | 723.00K | 3.73M | 523.00K | -51.00K | 5.47M | |
| Stock-Based Compensation | 13.00K | -178.00K | 4.67M | 13.89M | 15.02M | |
| Provision & Write-off of Bad Debts | 3.95M | 32.47M | 28.21M | -28.67M | 9.85M | |
| Other Operating Activities | 8.49M | 3.40M | 11.99M | 14.30M | 14.51M | |
| Change in Accounts Receivable | -3.21M | 24.82M | -38.82M | 6.95M | 241.47M | |
| Change in Accounts Payable | -12.99M | 712.00K | 6.91M | -2.80M | -8.38M | |
| Change in Unearned Revenue | 20.60M | -846.00K | -1.59M | -3.67M | 10.01M | |
| Change in Income Taxes | 1.45M | -3.35M | -4.71M | -1.96M | -5.99M | |
| Change in Other Net Operating Assets | -12.13M | -21.83M | -45.89M | 27.75M | 489.00K | |
| Operating Cash Flow | 19.01M | -32.99M | -122.16M | -4.99M | 194.96M | |
| Capital Expenditures | -149.00K | -444.00K | -5.38M | -1.06M | -1.75M | |
| Sale of Property, Plant & Equipment | 60.00K | |||||
| Cash Acquisitions | -188.00K | -1.71M | ||||
| Divestitures | 198.00K | -2.99M | 85.00K | |||
| Sale (Purchase) of Intangibles | -42.00K | -22.00K | -591.00K | -433.00K | ||
| Investment in Securities | 44.88M | 20.16M | -43.35M | 38.52M | -1.08M | |
| Other Investing Activities | 3.04M | 15.98M | 68.84M | 8.15M | -154.74M | |
| Investing Cash Flow | 48.02M | 32.48M | 20.17M | 43.31M | -158.00M | |
| Short-Term Debt Issued | 29.95M | 10.00M | 14.95M | 9.95M | 10.00M | |
| Total Debt Issued | 29.95M | 10.00M | 14.95M | 9.95M | 10.00M | |
| Short-Term Debt Repaid | -20.00M | -9.95M | -14.95M | -5.00M | -5.00M | |
| Total Debt Repaid | -20.00M | -9.95M | -14.95M | -5.00M | -5.00M | |
| Net Debt Issued (Repaid) | 9.95M | 50.00K | 4.95M | 5.00M | ||
| Issuance of Common Stock | 1.00K | 18.00K | 7.00K | |||
| Repurchase of Common Stock | -5.78M | |||||
| Other Financing Activities | -202.00K | -3.67M | 481.00K | 174.00K | 750.00K | |
| Financing Cash Flow | 9.75M | -3.61M | 481.00K | 5.12M | -23.00K | |
| Foreign Exchange Rate Adjustments | -227.00K | 245.00K | 362.00K | 2.20M | -822.00K | |
| Net Cash Flow | 76.55M | -3.88M | -101.15M | 45.65M | 36.12M | |
| Free Cash Flow | 18.86M | -33.43M | -127.54M | -6.05M | 193.21M | |
| Free Cash Flow Margin | 8.27% | -14.47% | -37.49% | -1.88% | 60.99% | |
| Free Cash Flow Per Share | 8.90 | -15.86 | -61.14 | -2.93 | 94.24 | |
| Levered Free Cash Flow | 7.31M | 1.19M | -17.80M | -5.44M | 62.77M | |
| Unlevered Free Cash Flow | 7.31M | 1.19M | -17.80M | -5.44M | 62.77M | |
| Cash Income Tax Paid | 30.00K | 206.00K | 93.00K | 171.00K | 306.00K | |
| Change in Working Capital | -6.29M | -508.00K | -84.10M | 26.26M | 237.62M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.72M | 9.38M | 6.25M | 21.83M | 41.91M | 40.68M |
| Enterprise Value | -8.71M | 2.54M | -247.66K | 14.25M | 22.81M | 16.85M |
| Last Close Price | 2.90 | 4.76 | 3.15 | 11.20 | 20.64 | 21.10 |
| PE Ratio | 1.34 | 5.88 | 13.17 | |||
| Forward PE | 9.15 | 9.15 | 9.93 | 17.79 | 24.60 | |
| PS Ratio | 0.15 | 0.29 | 0.20 | 0.46 | 0.90 | 0.82 |
| PB Ratio | 0.29 | 0.51 | 0.39 | 0.59 | 0.84 | 0.84 |
| P/TBV Ratio | 0.27 | 0.51 | 0.39 | 0.62 | 0.86 | 0.86 |
| P/FCF Ratio | 2.02 | 3.48 | 1.34 | |||
| P/OCF Ratio | 3.45 | 1.32 | ||||
| EV/Sales Ratio | 0.08 | 0.30 | 0.49 | 0.34 | ||
| EV/EBITDA Ratio | 1.45 | |||||
| EV/EBIT Ratio | 1.78 | |||||
| EV/FCF Ratio | 0.94 | 0.55 | ||||
| Debt / Equity Ratio | 0.18 | 0.31 | 0.25 | 0.17 | 0.16 | 0.07 |
| Debt / EBITDA Ratio | 0.53 | 1.84 | ||||
| Debt / FCF Ratio | 2.09 | 0.11 | ||||
| Net Debt / Equity Ratio | -0.68 | -0.53 | -0.55 | -0.29 | -0.39 | -0.65 |
| Net Debt / EBITDA Ratio | -2.43 | -5.58 | 0.87 | 0.82 | 3.15 | 2.19 |
| Net Debt / FCF Ratio | -3.62 | 1.96 | 0.59 | 22.17 | -1.03 | |
| Asset Turnover | 0.97 | 0.80 | 0.63 | 0.66 | 0.60 | 0.59 |
| Quick Ratio | 1.30 | 1.08 | 1.10 | 1.53 | 1.85 | 2.09 |
| Current Ratio | 1.40 | 1.21 | 1.20 | 1.60 | 1.90 | 2.28 |
| Return on Equity (ROE) | 24.57% | 9.24% | -74.08% | -29.39% | 6.94% | -26.03% |
| Return on Assets (ROA) | 8.97% | 2.18% | -13.22% | -11.43% | -5.19% | -10.89% |
| Return on Invested Capital (ROIC) | 83.31% | 17.60% | -65.02% | -47.41% | -27.53% | -60.81% |
| Return on Capital Employed (ROCE) | 25.30% | 7.10% | -59.80% | -32.60% | -12.30% | -30.60% |
| Earnings Yield | 74.49% | 17.02% | -299.34% | -58.13% | 7.59% | -34.66% |
| FCF Yield | 49.55% | 28.74% | -73.25% | -82.40% | -2.09% | 74.78% |
| Buyback Yield / Dilution | -0.42% | -0.54% | -1.08% | -0.82% | -0.92% | -0.56% |