36Kr Launches a Special Enterprise Service Initiative to Support SMEs Impacted by COVID-19
To support SMEs to better survive the epidemic, 36Kr, a well-recognized New-Economy brand, has recently launched a special enterprise service initiative—the Winter Warmth Program.
The beginning of 2020 has seen material interruptions on the operation of a spectrum of industries and enterprises by COVID-19 epidemic outbreak. While large and established companies are better prepared to weather the financial impact, small-to-medium enterprises (SMEs), with less cash on the balance sheet, are more vulnerable.
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The initiative seeks to link up local governments, large enterprises, investment institutions, and companies in Enterprise Service sector to help SMEs in need, centering around the results of the impacts of the uncertain revenue, heightened cost, insufficient financing, difficulties in realizing customer growth, management maintenance, and acquiring supportive policies. The initiative has established effective connections with more than 1,500 companies, 180 of which can provide assistance to SMEs. 36Kr also has lined up with the government of Xihu district in Hangzhou, Zhejiang, and Alibaba Cloud Innovation Center to hold a series of Cloud events. 36Kr launched the Super-growth Campaign (under 36Kr Winter Warmth Program), which held 6 online sharing sessions in two weeks to help thousands of SMEs in terms of management efficiency improvement and resources introduction.
In November 2019, the company went public on Nasdaq with the ticker of KRKR. Founded in 2010, 36Kr has become a a pioneering and well-recognized brand in New Economy space of China. Bolstered by the premium content and resources, 36Kr has expanded its types of business, including online advertising services, enterprise value-added services, as well as subscription services.
While leveraging the premium content to naturally acquire customers at a low cost, the enterprise service constantly helps 36Kr’s business to be expanded into a greater market. At the same time, in the process of providing services to the enterprises, 36Kr has accumulated a large number of enterprise data. And this enterprise database can further strengthen its capability to provide more diversified and satisfying enterprise services, and on the other hand to better facilitate the production of content. And the premium content will help to expand the customer base. It is a flywheel model and it keeps running.
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Besides the data analysis capabilities to serve the New-Economy space, 36Kr also plays as a pioneer who established a new economic community full of vitality and self-reinforcement. And there are six roles in this community: startups, TMT giants, traditional enterprises, institutional investors, local governments, and individuals. What 36Kr doing is to build and promote the connections among the six roles, to accelerate the flows of information, funds, talents and business opportunities, and further to promote the rapid, stable and sustainable development of the new economy.
According to its unaudited financial results for the fourth quarter and fiscal year 2019, 36Kr’s total revenues increased by 119.2% to RMB655.6 million (US$94.2 million) in the fiscal year of 2019, of which enterprise value-added services revenues increased by 218.7% to RMB319.5 million (US$45.9 million) in the fiscal year of 2019. Besides, the Non-GAAP adjusted net income increased by 43.0% to RMB65.3 million (US$9.4 million) in the fiscal year of 2019.
According to the CIC Report, the GDP for China’s New Economy is expected to grow at a CAGR of approximately 23.3% from 2018 to reach US$5.7 trillion in 2023, and the GDP for New Economy as a percentage of the overall GDP is expected to increase from 16.1% in 2018 to 33.5% in 2023.
“There is great market potential for our comprehensive services offered to the vibrant new-economy community. We are dedicated to being the prioritized partner of the New-Economy participants and empowering them to achieve more business success,” said Feng Dagang, 36Kr’s co-chairman and CEO.
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