Exhibit 99.1

36Kr Holdings Inc. Reports Second Quarter 2023 Unaudited Financial Results

BEIJING, August 31, 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 in China, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Highlights

1 “Number of followers” 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. 

Selected Operating Data

Mr. Dagang Feng, Co-chairman and CEO of 36Kr, commented, “In the second quarter of 2023, we maintained a solid growth trajectory as our total revenues continued to increase year over year amid the macro economy’s nascent recovery. Our relentless efforts to optimize our diverse content offerings and omni-channel distribution drove the number of our followers to over 30 million as of the end of the second quarter of 2023, representing an increase of 21% year over year. Moreover, we accelerated the application of AI and other cutting-edge technologies across our business, effectively enhancing our operational efficiency and optimizing costs. Specifically, our application-level product, 36Kr Enterprise Service Review Platform, provided users with more interactive, user-friendly intelligent customer service through AI applications and empowerment. Looking ahead, we will remain committed to stepping up our content creation capabilities, further expanding the depth and breadth of our service offerings, and actively exploring AI-empowered product innovation as we gear up to seize tremendous future growth opportunities.”

Ms. Lin Wei, Chief Financial Officer of 36Kr, added, “Our solid financial performance in the second quarter of 2023 is a testament to our businesses' resilience and vitality given the uncertain and evolving external environment. Our total revenues increased by 3% year over year while our gross margin rebounded to above the 50% level. Notably, our enterprise value-added services and subscription services both recorded a substantial increase year over year, growing 17% and 11% respectively, as we made great strides in diversifying our service offerings. While our advertising revenues remained largely stable compared to the same period of last year, our non-advertising revenues are contributing an increasing portion of total revenues year over year, enhancing our business’ overall balance and structure. Moving forward, we will continue to apply innovative technologies including generative AI and large language models to drive our revenue growth and enhance our profitability, thereby generating long-term sustainable value for shareholders, customers and society as a whole.”

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.

Second Quarter 2023 Financial Results

Total revenues increased by 3.2% to RMB84.4 million (US$11.6 million) in the second quarter of 2023, from RMB81.7 million in the same period of 2022.

Cost of revenues was RMB37.6 million (US$5.2 million) in the second quarter of 2023, compared to RMB30.8 million in the same period of 2022. The increase was primarily attributable to higher fulfillment costs and content costs.

Gross profit was RMB46.7 million (US$6.4 million) in the second quarter of 2023, compared to RMB50.9 million in the same period of 2022. Gross profit margin was 55.4% in the second quarter of 2023, compared to 62.3% in the same period of 2022.

Operating expenses were RMB65.1 million (US$9.0 million) in the second quarter of 2023, compared to RMB64.6 million in the same period of 2022.

Share-based compensation expenses recognized in cost of revenues, sales and marketing expenses, research and development expenses, as well as general and administrative expenses totaled RMB1.8 million (US$0.2 million) in the second quarter of 2023, compared to RMB2.6 million in the same period of 2022.

Other income was RMB4.8 million (US$0.7 million) in the second quarter of 2023, compared to RMB22.7 million in the same period of 2022. The decrease was primarily attributable to the Company’s recognition of approximately RMB 18.5 million of investment income arising from fair value change of long-term investments in the second quarter of 2022.

Income tax expenses were RMB0.05 million (US$0.01 million) in the second quarter of 2023, compared to RMB0.01 million in the same period of 2022.

Net loss was RMB13.7 million (US$1.9 million) in the second quarter of 2023, compared to net income of RMB9.0 million in the same period of 2022. Non-GAAP adjusted net loss6 was RMB11.9 million (US$1.6 million) in the second quarter of 2023, compared to non-GAAP adjusted net income of RMB11.6 million in the same period of 2022.

Net loss attributable to 36Kr Holdings Inc.'s ordinary shareholders was RMB13.9 million (US$1.9 million) in the second quarter of 2023, compared to net income attributable to 36Kr Holdings Inc.'s ordinary shareholders of RMB8.0 million in the same period of 2022.

Basic and diluted net loss per ADS were both RMB0.335 (US$0.046) in the second quarter of 2023, compared to basic and diluted net income per ADS of RMB0.195 in the same period of 2022.

Certain Balance Sheet Items

As of June 30, 2023, the Company had cash, cash equivalents, restricted cash and short-term investments of RMB136.5 million (US$18.8 million), compared to RMB169.8 million as of March 31, 2023. The decrease was mainly attributable to net cash outflow from operating activities.

6 Non-GAAP adjusted income/(loss) represents net income/(loss) excluding share-based compensation expenses.

Conference Call

The Company's management will host an earnings conference call at 7:00 AM U.S. Eastern Time on August 31, 2023 (7:00 PM Beijing/Hong Kong Time on August 31, 2023).

For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.

Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.36kr.com.

A replay of the conference call will be available for one week from the date of the conference, by dialing the following telephone numbers:

About 36Kr Holdings Inc.

36Kr Holdings Inc. is a prominent brand and a pioneering platform dedicated to serving New Economy participants in China with the mission of empowering New Economy participants to achieve more. The Company started its business with high-quality New Economy-focused content offerings, covering a variety of industries in China's New Economy with diverse distribution channels. Leveraging traffic brought by high-quality content, the Company has expanded its offerings to business services, including online advertising services, enterprise value-added services and subscription services to address the evolving needs of New Economy companies and upgrading needs of traditional companies. The Company is supported by comprehensive database and strong data analytics capabilities. Through diverse service offerings and the significant brand influence, the Company is well-positioned to continuously capture the high growth potentials of China's New Economy.

For more information, please visit: http://ir.36kr.com.

Use of Non-GAAP Financial Measures

In evaluating its business, the Company considers and uses two non-GAAP measures, adjusted net income/(loss) and adjusted EBITDA, as supplemental measures to review and assess its operating performance. The presentation of these two non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents these non-GAAP financial measures because they are used by the Company’s management to evaluate its operating performance and formulate business plans. The Company also believes that the use of these non-GAAP measures facilitates investors' assessment of its operating performance.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company performance. The Company encourages investors to review its financial information in its entirety and not rely on a single financial measure.

Adjusted net loss represents net loss excluding share-based compensation expenses.

Adjusted EBITDA represents adjusted net income/(loss) before interest income, interest expenses, income tax expense/(credit), depreciation of property and equipment and amortization of intangible assets.  

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and non-GAAP results” set forth at the end of this press release.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.2513 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Federal Reserve Board on of June 30, 2023.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goal and strategies; the Company’s future business development, results of operations and financial condition; relevant government policies and regulations relating to our business and industry; the Company’s expectations regarding the use of proceeds from this offering; the Company’s expectations regarding demand for, and market acceptance of, its services; the Company’s ability to maintain and enhance its brand; the Company’s ability to provide high-quality content in a timely manner to attract and retain users; the Company’s ability to retain and hire quality in-house writers and editors; the Company’s ability to maintain cooperation with third-party professional content providers; the Company’s ability to maintain relationship with third-party platforms; general economic and business condition in China; possible disruptions in commercial activities caused by natural or human-induced disasters; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. 

For investor and media inquiries, please contact:

In China:

36Kr Holdings Inc.

Investor Relations

Tel: +86 (10) 8965-0708

E-mail: ir@36kr.com

The Piacente Group, Inc.

Jenny Cai

Tel: +86 (10) 6508-0677

E-mail: 36Kr@tpg-ir.com

In the United States:

The Piacente Group, Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail: 36Kr@tpg-ir.com 

36Kr Holdings Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

36Kr Holdings Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

36Kr Holdings Inc.

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS