KRKR · CIK 0001779476

36Kr Holdings Inc.

Annual figures as reported, FY2016–FY2025. Ratios and growth rates derived on-page.

Revenue

CN¥227.9M

▼ −1.4% vs FY2024

Net income

CN¥11.4M

▲ +108.1% vs FY2024

Free cash flow

CN¥18.9M

▲ +156.4% vs FY2024

Diluted EPS

CN¥0.01

▲ +108.5% vs FY2024

Revenue

Annual, as reported

Net income

Losses shown in terracotta

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

Gross marginOperating marginNet margin

Returns on capital

Net income vs year-end equity and assets

Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

Operating cash flow

Net cash from operations

Shareholder returns

capital allocation

Diluted shares outstanding

Falling count means buybacks outpace dilution

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

Growth rates

compounding, annualized

Revenue CAGR

−10.9%

−10.0%

Net income CAGR

−20.4%

Diluted EPS CAGR

−19.4%

Share count change (split-adjusted)

+4.0%

Key ratios

derived per fiscal year

Fiscal year	Gross margin	Op. margin	Net margin	FCF margin	ROE	ROA	Current ratio
FY2025	57.7%	4.4%	5.0%	8.3%	8.9%	3.8%	1.21×
FY2024	48.6%	−33.7%	−60.9%	−14.5%	−119.3%	−51.0%	1.20×
FY2023	53.5%	−27.7%	−26.2%	−37.5%	−35.4%	−19.4%	1.60×
FY2022	57.3%	−13.8%	7.0%	−1.9%	6.7%	4.0%	1.90×
FY2021	59.3%	−29.7%	−28.6%	61.0%	−30.3%	−18.1%	2.28×
FY2020	32.4%	−69.1%	−72.2%	−5.0%	−73.4%	−48.3%	2.99×
FY2019	42.0%	−3.5%	−4.0%	−25.0%	−4.1%	−2.8%	3.18×
FY2018	53.1%	15.2%	13.5%	−20.7%	—	9.8%	4.72×
FY2017	49.6%	9.1%	6.6%	−9.8%	—	—	—
FY2016	—	—	—	—	—	—	—

Annual figures

as reported

Fiscal year	Revenue	Gross profit	Op. income	Net income	Diluted EPS	Op. cash flow	Capex	Total assets	Liabilities	Equity	Cash	LT debt
FY2025	CN¥227.9M	CN¥131.5M	CN¥10.0M	CN¥11.4M	CN¥0.01	CN¥19.0M	CN¥149K	CN¥297.5M	CN¥168.4M	CN¥128.8M	CN¥102.2M	—
FY2024	CN¥231.1M	CN¥112.3M	−CN¥77.8M	−CN¥140.8M	−CN¥0.13	−CN¥33.0M	CN¥444K	CN¥276.2M	CN¥157.9M	CN¥118.0M	CN¥36.8M	—
FY2023	CN¥340.2M	CN¥182.0M	−CN¥94.2M	−CN¥89.2M	−CN¥0.09	−CN¥122.2M	CN¥5.4M	CN¥459.0M	CN¥197.1M	CN¥252.0M	CN¥41.5M	—
FY2022	CN¥322.5M	CN¥184.6M	−CN¥44.5M	CN¥22.6M	CN¥0.02	−CN¥5.0M	CN¥1.1M	CN¥571.4M	CN¥226.0M	CN¥338.1M	CN¥142.5M	—
FY2021	CN¥316.8M	CN¥187.9M	−CN¥94.1M	−CN¥90.6M	−CN¥0.09	CN¥195.0M	CN¥1.7M	CN¥501.7M	CN¥194.5M	CN¥299.4M	CN¥97.0M	—
FY2020	CN¥386.8M	CN¥125.4M	−CN¥267.3M	−CN¥279.3M	−CN¥0.28	−CN¥17.1M	CN¥2.2M	CN¥578.5M	CN¥189.6M	CN¥380.8M	CN¥60.8M	—
FY2019	CN¥655.6M	CN¥275.3M	−CN¥22.9M	−CN¥25.9M	−CN¥2.31	−CN¥158.9M	CN¥4.6M	CN¥910.8M	CN¥266.9M	CN¥637.2M	CN¥177.4M	—
FY2018	CN¥299.1M	CN¥158.8M	CN¥45.6M	CN¥40.5M	−CN¥0.28	−CN¥45.6M	CN¥16.4M	CN¥415.4M	CN¥84.7M	−CN¥485.6M	CN¥49.0M	—
FY2017	CN¥120.5M	CN¥59.8M	CN¥11.0M	CN¥7.9M	CN¥0.01	−CN¥11.4M	CN¥392K	—	—	−CN¥411.7M	CN¥45.6M	—
FY2016	—	—	—	—	—	—	—	—	—	−CN¥433.1M	—	—

Latest filings

the most recent regulatory filings

4OWNERSHIP DOCUMENT2026-07-02 ↗4OWNERSHIP DOCUMENT2026-07-02 ↗4OWNERSHIP DOCUMENT2026-07-02 ↗S-8Securities registration2026-06-17 ↗20-F/AAnnual report (foreign issuer)2026-05-19 ↗6-K/AForeign issuer report2026-05-19 ↗20-FAnnual report (foreign issuer)2026-04-23 ↗3OWNERSHIP DOCUMENT2026-04-01 ↗4OWNERSHIP DOCUMENT2026-03-30 ↗3/AOWNERSHIP DOCUMENT2026-03-30 ↗

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Fiscal year

Gross margin

Op. margin

Net margin

FCF margin

ROE

ROA

Current ratio

FY2025

57.7%

4.4%

5.0%

8.3%

8.9%

3.8%

1.21×

FY2024

48.6%

−33.7%

−60.9%

−14.5%

−119.3%

−51.0%

1.20×

FY2023

53.5%

−27.7%

−26.2%

−37.5%

−35.4%

−19.4%

1.60×

FY2022

57.3%

−13.8%

7.0%

−1.9%

6.7%

4.0%

1.90×

FY2021

59.3%

−29.7%

−28.6%

61.0%

−30.3%

−18.1%

2.28×

FY2020

32.4%

−69.1%

−72.2%

−5.0%

−73.4%

−48.3%

2.99×

FY2019

42.0%

−3.5%

−4.0%

−25.0%

−4.1%

−2.8%

3.18×

FY2018

53.1%

15.2%

13.5%

−20.7%

—

9.8%

4.72×

FY2017

49.6%

9.1%

6.6%

−9.8%

—

FY2016

—

Fiscal year

Revenue

Gross profit

Op. income

Net income

Diluted EPS

Op. cash flow

Capex

Total assets

Liabilities

Equity

Cash

LT debt

FY2025

CN¥227.9M

CN¥131.5M

CN¥10.0M

CN¥11.4M

CN¥0.01

CN¥19.0M

CN¥149K

CN¥297.5M

CN¥168.4M

CN¥128.8M

CN¥102.2M

—

FY2024

CN¥231.1M

CN¥112.3M

−CN¥77.8M

−CN¥140.8M

−CN¥0.13

−CN¥33.0M

CN¥444K

CN¥276.2M

CN¥157.9M

CN¥118.0M

CN¥36.8M

—

FY2023

CN¥340.2M

CN¥182.0M

−CN¥94.2M

−CN¥89.2M

−CN¥0.09

−CN¥122.2M

CN¥5.4M

CN¥459.0M

CN¥197.1M

CN¥252.0M

CN¥41.5M

—

FY2022

CN¥322.5M

CN¥184.6M

−CN¥44.5M

CN¥22.6M

CN¥0.02

−CN¥5.0M

CN¥1.1M

CN¥571.4M

CN¥226.0M

CN¥338.1M

CN¥142.5M

—

FY2021

CN¥316.8M

CN¥187.9M

−CN¥94.1M

−CN¥90.6M

−CN¥0.09

CN¥195.0M

CN¥1.7M

CN¥501.7M

CN¥194.5M

CN¥299.4M

CN¥97.0M

—

FY2020

CN¥386.8M

CN¥125.4M

−CN¥267.3M

−CN¥279.3M

−CN¥0.28

−CN¥17.1M

CN¥2.2M

CN¥578.5M

CN¥189.6M

CN¥380.8M

CN¥60.8M

—

FY2019

CN¥655.6M

CN¥275.3M

−CN¥22.9M

−CN¥25.9M

−CN¥2.31

−CN¥158.9M

CN¥4.6M

CN¥910.8M

CN¥266.9M

CN¥637.2M

CN¥177.4M

—

FY2018

CN¥299.1M

CN¥158.8M

CN¥45.6M

CN¥40.5M

−CN¥0.28

−CN¥45.6M

CN¥16.4M

CN¥415.4M

CN¥84.7M

−CN¥485.6M

CN¥49.0M

—

FY2017

CN¥120.5M

CN¥59.8M

CN¥11.0M

CN¥7.9M

CN¥0.01

−CN¥11.4M

CN¥392K

—

−CN¥411.7M

CN¥45.6M

—

FY2016

—

−CN¥433.1M

—