B+
Bull case
25%
Probability
Target price
$3.80
Analysis reference price unavailable
Analysis 2026-07-02 · RankAlpha Sentiment Codex
KRKR
36KrDNasdaq / Media & Entertainment
Last Price
Quote time unavailable
Current thesis
Primary company evidence improved: 36Kr reported FY2025 net income of RMB11.4 million versus a FY2024 net loss, 2H25 gross margin reached 60.0%, and cash plus short-term investments rose to RMB116.1 million. If the next report shows those gains were not one-off, upside can be meaningful from a $2.62 anchor price despite low coverage [#IR-2026-03-17].
Posture
Defensive
Lead driver
Sentiment
What changed
Next scheduled catalyst: earnings 2026-09-14.
What can break
At roughly $5.3 million market cap, liquidity and volatility risk are inherently high even if operations stabilize.
Momentum
69
Value
53
Sentiment
35
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $2.40 · Bull $3.80 · Bear $1.30Analysis 2026-07-02; returns require an exact persisted reference.
Earnings
2026-09-14
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-08-17 • Vendor: Data Vendor v1
Scores
As of 2026-09-09 • Model: HYBRID_IC_RP
AI Memo
As of 2026-07-02 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-09-09
Investment thesis
As of 2026-09-09
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-09. Definitions
Supporting evidence
What
Grade D · Defensive
Confidence Medium · Net Neutral
Target $25.32
Why
Momentum69 · Δ7d -
Value53 · Δ7d 0.0
Sentiment35 · Δ7d -
So what
Weak posture (Net Neutral). Prioritize risk control and patience.
Confirming evidence
- • Next scheduled catalyst: earnings 2026-09-14.
- • Sentiment remains the lead driver in the composite.
Contradictions & invalidation
- • At roughly $5.3 million market cap, liquidity and volatility risk are inherently high even if operations stabilize.
- • FY2025 revenue remained roughly flat year over year despite the profit rebound, limiting confidence that demand has fully inflected [#IR-2026-03-17].
- • The turnaround is still fragile because FY2025 total revenue was RMB227.9 million versus RMB231.1 million in FY2024, subscription revenue kept shrinking, and management said profitability also benefited from lower impairment losses and better receivables collection.
Catalyst clock
2026-09-14
First-half 2026 results are the next proof point for the FY2025 turnaround
Lead driver: Sentiment · See AI snapshot
Momentum
69
9% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Value
53
28% active weight
Current posture
7d trendFlat
Δ7d
0.0
Δ21d
-8.5
Sentiment
35
62% active weight
Current posture
7d trendTrend unavailable
Trend unavailable
Δ7d
-
Δ21d
-
Why this grade
Composite grade D. Momentum 68.6 / Value 53.1 / Sentiment 34.7
Scenario snapshot
Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-07-02. Scenario method
Most likely
B
Base case
45%
Probability
Target price
$2.40
Analysis reference price unavailable
Analysis 2026-07-02 · RankAlpha Sentiment Codex
B-
Bear case
30%
Probability
Target price
$1.30
Analysis reference price unavailable
Analysis 2026-07-02 · RankAlpha Sentiment Codex
Fundamentals (TTM)As of 2026-08-17
Fundamentals (TTM)
As of 2026-08-17
Market Cap
$6.27M
Beta
0.73
Shares Out
1.78M
P/E (TTM) · Derived
4.8
P/S (TTM)
0.26
P/FCF (TTM)
-
Rev YoY
-9.0%
EPS YoY
+94.8%
Gross Margin
+63.1%
Op Margin
+14.8%
Net Debt
-$10.97M
Current Ratio
1.40
As of 2026-09-09 • Updated nightlySource: Internal modelMethods & Data