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36Kr Holdings Inc. (KRKR) Stock Surged 16.44% Pre-Market, Here’s Why

36Kr Holdings Inc. (KRKR) stock soared 16.44% in the pre-market trading session at the price of $0.74 despite no fundamental developments. KRKR is a pioneering brand that facilitates and empowers New Economy candidates in China to achieve more.

KRKR Reached 1M Followers

On 26th January 2022, KRKR reported exceeding 1 million followers on its Bilibili account, an influential and popular video content producer. The achievement marked a significant audience level since the forum has only been operating for a year.

CEO of KRKR, Mr. Dagang Feng, remarked that they are happy to reach one million followers on Bilibili. It is a significant landmark for their struggles in the short video platform. It supports their belief that the video business will be a crucial growth driver to expand the user base. The company will create value for more users since it has evolved as a key developer in the New Economy. KRKR is well-positioned to capitalize on the extensive business opportunity in the large market of China, Feng added.

KRKR Q3 2021 Financial Highlights

On 9th December 2021, KRKR reported its financial results for the quarter ended 30th September 2021. For Q3 of 2021, revenue totaled RMB84.9M. The company has revenue of RMB123.5M in Q3 of 2020. For the Q3 of 2021, gross profit totaled RMB47.6M compared to RMB46.8 million in Q3 of the previous year. The cost of revenues totaled RMB37.3M for Q3 of 2021.

KRKR has a gross profit margin of 56.1 percent for Q3 of 2021. For the same quarter of 2020, the gross profit margin was 37.9 percent. Operating costs were RMB80.3M for Q3 of 2021. The company has a net loss of RMB30.5M for Q3 of 2021. Net loss was RMB14.0M for the same quarter of last year. As of 30th September 2021, the company had RMB178.0M in cash and cash equivalents. The cash totaled RMB149.6M as of 30th June 2021. 

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