36Kr Holdings Inc. Reports First Quarter 2023 Unaudited Financial Results
BEIJING,June 6, 2023/PRNewswire/ --36Kr Holdings Inc.("36Kr" or the "Company" or "We") (NASDAQ:KRKR), a prominent brand and a pioneering platform dedicated to serving New Economy participants inChina, today announced its unaudited financial results for the first quarter endedMarch 31, 2023。
2023年第一季度亮点
- Number of followers[1]as ofMarch 31, 2023reached 29.3 million, an increase of 21.6% from 24.1 million as ofMarch 31, 2022。
- Total revenuesincreased by 11.9% toRMB55.5 million(US$8.1 million) in the first quarter of 2023, fromRMB49.6 million在2022年的同一时期。
- Revenues from online advertising servicesincreased by 11.4% toRMB41.9 million(US$6.1 million) in the first quarter of 2023, fromRMB37.6 million在2022年的同一时期。
- Revenues from enterprise value-added servicesincreased by 7.3% toRMB10.0 million(US$1.5 million) in the first quarter of 2023, fromRMB9.3 million在2022年的同一时期。
- Revenues from subscription servicesincreased by 35.7% toRMB3.6 million(US$0.5 million) in the first quarter of 2023, compared toRMB2.7 million在2022年的同一时期。
Selected Operating Data
For the Three Months Ended March 31, |
||||
2022 |
2023 |
|||
Online advertising services |
||||
Number of online advertising services end customers |
135 |
147 |
||
Average revenue per online advertising services end |
278.5 |
284.9 |
||
Enterprise value-added services |
||||
Number of enterprise value-added services end customers |
35 |
38 |
||
Average revenue per enterprise value-added services end |
266.8 |
263.6 |
||
Subscription services |
||||
Number of individual subscribers |
220 |
39 |
||
Average revenue per individual subscriber (RMB)[4] |
92.5 |
14,864.4 |
||
Number of institutional investors |
88 |
98 |
||
Average revenue per institutional investor (RMB'000)[5] |
30.1 |
31.1 |
||
Mr.Dagang Feng, Co-chairman and CEO of 36Kr, commented, "We kicked off the year with stellar first quarter results as we returned to robust growth trajectory, delivering double-digit top-line growth year-over-year. The strong financial results speak to our high-quality content, compelling product offerings, and immense technological capabilities. Our user engagement metrics also continued to improve, with the number of our followers exceeding 29 million as of the end of first quarter of 2023, up 22% year-over-year. In addition, we continued to adopt cutting-edge technologies including generative AI across our content ecosystem and product matrix, facilitating higher efficiency in our operations. Particularly, our new application-level product, 36Kr Enterprise Service Review platform, achieved rapid growth across multiple operating metrics as we upgraded its various functionalities. Looking ahead, we will focus on core business development, amplifying our content advantages and driving product innovation as we seek to create greater growth potential and enterprise value."
Ms.Lin Wei, Chief Financial Officer of 36Kr, added, "We achieved upbeat financial results in the first quarter of 2023, with total revenues reachingRMB55.5 million, an increase of 12% from a year ago and all three major business segments realizing year-over-year growth. Notably, our advertising revenue grew strongly by 11% year-over-year toRMB41.9 million, underscoring the increasing customer recognition of our content strength and proactive marketing solutions. As the pandemic receded, our enterprise value-added services and subscription services also recorded solid revenue growth of 7% and 36% year-over-year, respectively, as we continued to optimize our product and service offerings. Moving forward through 2023, we will continue to cultivate our unique New Economy service platform, capturing new opportunities arising from AI technology development and applications, to drive sustainable long-term growth."
First Quarter 2023 Financial Results
Total revenuesincreased by 11.9% toRMB55.5 million(US$8.1 million) in the first quarter of 2023, fromRMB49.6 million在2022年的同一时期。
- Online advertising services revenuesincreased by 11.4% toRMB41.9 million(US$6.1 million) in the first quarter of 2023, fromRMB37.6 million在2022年的同一时期。的增加是主要的rily attributable to more innovative marketing solutions as well as the gradual recovery of market demand in the first quarter of 2023.
- Enterprise value-added services revenuesincreased by 7.3% toRMB10.0 million(US$1.5 million) in the first quarter of 2023, as we continuously developed various proactive enterprise-level services for our customers.
- 订阅服务收入increased by 35.7% toRMB3.6 million(US$0.5 million) in the first quarter of 2023, compared toRMB2.7 million在2022年的同一时期。的增加是主要的rily attributable to our continuous efforts to offer high-quality subscription products to our subscribers.
Cost of revenueswasRMB32.4 million(US$4.7 million) in the first quarter of 2023, compared toRMB23.9 million在2022年的同一时期。的增加是主要的rily attributable to higher fulfillment costs and content costs.
Gross profitwasRMB23.1 million(US$3.4 million) in the first quarter of 2023, compared toRMB25。7 million in the same period of 2022.Gross profit marginwas 41.6% in the first quarter of 2023, compared to 51.8% in the same period of 2022.
Operating expenseswereRMB63.6 million(US$9。3 million) in the first quarter of 2023, compared toRMB33。4 million in the same period of 2022.
- Sales and marketing expenseswereRMB31.0 million(US$4.5 million) in the first quarter of 2023, an increase of 4.4% fromRMB29.7 million在2022年的同一时期。的增加是主要的rily attributable to the increase in payroll-related expenses, partially offset by the decrease in marketing related expenses.
- General and administrative expenseswereRMB17.2 million(US$2.5 million) in the first quarter of 2023, compared toRMB (10.0) million在2022年的同一时期。The fluctuation was primarily attributable to the release of the allowance for credit losses ofRMB32.9 millionin the same period of 2022 which was mainly due to the cash collection from account receivables fully impaired in previous year, partially offset by the decrease in payroll-related expenses and share-based compensation expenses.
- Research and development expenseswereRMB15.5 million(US$2.3 million) in the first quarter of 2023, an increase of 12.3% fromRMB13.8 million在2022年的同一时期。的增加是主要的rily attributable to the increase in payroll-related expenses.
在公司的股份补偿费用st of revenues, sales and marketing expenses, research and development expenses, as well as general and administrative expenses totaledRMB1.9 million(US$0.3 million) in the first quarter of 2023, compared toRMB4.1 million在2022年的同一时期。
Other incomewasRMB1.2 million(US$0.2 million) in the first quarter of 2023, compared toRMB40.3 million在2022年的同一时期。The decrease was primarily attributable to the Company recognized approximatelyRMB 38.0 millionof gain arising from a disposal of a subsidiary in the first quarter of 2022.
Income tax creditwasRMB0.24million (US$0.03 million) in the first quarter of 2023, compared toRMB0.01 million在2022年的同一时期。
Net losswasRMB39.0 million(US$5。7 million) in the first quarter of 2023, compared to net income ofRMB32.6 million在2022年的同一时期。Non-GAAP adjusted net loss[6]wasRMB37。1 million (US$5.4 million) in the first quarter of 2023, compared to non-GAAP adjusted net income ofRMB36.7 million在2022年的同一时期。
Net loss attributable to 36Kr Holdings Inc.'s ordinary shareholderswasRMB38。4 million (US$5。6 million) in the first quarter of 2023, compared to net income attributable to 36Kr Holdings Inc.'s ordinary shareholders ofRMB33。0 million in the same period of 2022.
Basic and diluted net loss per ADSwas bothRMB0。923 (US$0.134) in the first quarter of 2023, compared to basic and diluted net income per ADS ofRMB0.802在2022年的同一时期。
Certain Balance Sheet Items
As ofMarch 31, 2023, the Company had cash, cash equivalents, restricted cash and short-term investments ofRMB169.8 million(US$24.7 million), compared toRMB184.9 millionas ofDecember 31, 2022。The decrease was mainly attributable to payment of year-end employee bonus and benefits, as well as small-sized long-term investment in a New-Economy start-up company in the first quarter of 2023.
[1]"Number of followers" refers to refers to the aggregate number of followers across the official accounts we own and/or operate on various social media and online platforms, including but not limited to Weixin, Weibo, Zhihu, Toutiao, Xinhua Net, Douyin and Bilibili. |
[2]Equals revenues generated from online advertising services for a period divided by the number of online advertising services end customers in the same period. |
[3]Equals revenues generated from enterprise value-added services for a period divided by the number of enterprise value-added services end customers in the same period. |
[4]Equals revenues generated from individual subscription services for a period divided by the number of individual subscribers in the same period. |
[5]Equals revenues generated from institutional investor subscription services for a period divided by the number of institutional investors in the same period. |
[6]Non-GAAP adjusted income/(loss) represents net income/(loss) excluding share-based compensation expenses. |
SOURCE 36Kr
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