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- **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.


36Kr Holdings, Inc. (KRKR) Q4 2024 Earnings Call Transcript

Online Advertising Services

Enterprise Value-Added Services

Subscription Services

KRKR

KRKR fundamentals

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