What guidance did 36Kr's management provide for the next earnings period?

What is the market's earnings forecast for 36Kr next quarter?

What were the key takeaways from 36Kr’s earnings call?

What factors drove the changes in 36Kr's revenue and profit?

Did 36Kr beat or miss consensus estimates last quarter?

What is 36Kr's gross profit margin?

What is 36Kr's latest dividend and current dividend yield?

What were the key takeaways from 36Kr's earnings call?

- **Cost Efficiency Triumph**: 50% YoY operating expense reduction narrowed losses, with gross margin stable at 50%.
- **AI-Driven Growth**: 36Kr Corporate Intelligence subscriptions up 303% YoY, AI meeting coverage tool adopted by 330+ companies.
- **Global Expansion Momentum**: Launched 36Kr Europe, partnered with Beijing ICC, and signed Hangzhou Qiantang New Area deal.
- **Ad Revenue Resilience**: Maintained key clients (Alibaba, Huawei) while onboarding new premium brands, despite 24% YoY ad revenue decline.


**【CEO Opening Remarks】**
- **Operational Efficiency**: Operating expenses decreased by 50% YoY in Q2 2024, with gross profit margin stable at ~50%. Operating losses narrowed significantly while cash reserves remained stable.
- **Content Ecosystem Expansion**: 
  - Published 8,090 articles (2,465 original) across 36Kr's 20+ specialized accounts, achieving 220M page views and 5.26M shares.
  - Video followers grew to 9.31M (+10% YoY), with short video ad revenue contribution rising.
  - Live streaming revenue surged 68.5% YoY, including first e-commerce stream with 1.63M views.
- **Global Expansion**: 
  - Launched 36Kr Europe with AI-powered content in English, German, and Chinese.
  - Partnered with Beijing ICC to create Global Expansion Service Committee with LinkedIn, KPMG, etc.
  - Signed agreement with Hangzhou Qiantang New Area for Chinese Enterprise International Service Center.
- **AI Integration**: 
  - Launched 36Kr Corporate Intelligence (7800+ public companies covered, 303K subscribers).
  - AI meeting coverage tool analyzed 330+ companies since launch.
  - Integrated DeepSeek AI models into content production workflows.

**【CFO Financial Commentary】**
- **Revenue Performance**: 
  - Full year 2024 revenue: ¥231.1M (-32% YoY), driven by reduced ad spending and strategic customer optimization.
  - Online advertising: ¥180.6M (-24% YoY), enterprise services: ¥32.8M (-51% YoY), subscriptions: ¥17.6M (-48% YoY).
- **Cost Optimization**: 
  - COGS: ¥180.7M (+15% YoY) due to efficiency gains.
  - Gross profit: ¥112.3M (-38% YoY), gross margin: 48.6% (vs 53.5% YoY).
  - Operating expenses: ¥119.1M (-31% YoY), with R&D expenses down 65.5% to ¥14.4M.
- **Financial Results**: 
  - Net loss: ¥140.8M (-58% YoY), cash reserves: ¥92.5M.

**【Q&A Highlights】**
1. **Advertising Outlook**: 
   - Maintained partnerships with Alibaba, JD.com, Huawei while onboarding new premium brands (Apple, P&G).
   - Focused on high-margin verticals like AI, global expansion, and youth-oriented content.
2. **Cost Reduction Strategy**: 
   - 50% YoY expense reduction via office relocation, R&D streamlining, and AI tool adoption.
   - 17% YoY decline in operating expense ratio.
3. **Enterprise Services Recovery**: 
   - 2025 plans include resuming key events (WISE Summit) and leveraging global expansion partnerships.
   - Strategic focus on high-margin government and corporate projects.
4. **AI Product Growth**: 
   - 36Kr Corporate Intelligence subscriptions +303% YoY.
   - AI meeting coverage tool used by 330+ companies in 2024.


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