BEIJING - 36Kr Holdings Inc . (NASDAQ: NASDAQ:KRKR), a notable media platform in China's New Economy sector, has announced a strategic partnership with artificial intelligence (AI) firm SenseTime. This collaboration aims to integrate Artificial General Intelligence (AGI) technology into 36Kr's media operations, enhancing content production and commercial possibilities.
The partnership will see 36Kr adopting SenseTime's advanced AI tools, such as "SenseChat" and "SenseMirage," to improve content creation with greater efficiency and reduced costs. Additionally, SenseTime's SenseNova 5.0 Large Model Series will enable 36Kr to launch innovative AI-driven products, including "AI Media Coverage" and "AI Financial Report Interpretation."
36Kr anticipates that these advancements will allow it to serve a wider and more diverse range of enterprise customers, previously unattainable due to resource constraints. The company also plans to explore digital avatar technology with SenseTime for AI marketing solutions.
Mr. Dagang Feng, Co-chairman and CEO of 36Kr, expressed the company's commitment to leveraging AGI technology in various media scenarios to bolster content production and commercial efficiency. Dr. Xu Li, Chairman and CEO of SenseTime, echoed this sentiment, highlighting the goal of fostering an ecosystem where AGI technology enhances content creation.
SenseTime, recognized for its AI software capabilities, has a history of involvement in setting national and international industry standards for data security and ethical AI development. The company was listed on the Main Board of the Stock Exchange of Hong Kong Limited and operates globally.
This partnership is expected to drive digital transformation in the media industry by harnessing the potential of AGI technology. The information in this article is based on a press release statement from 36Kr Holdings Inc.
In other recent news, 36Kr Holdings Inc. has announced its financial results for the fourth quarter and full fiscal year of 2023. The company reported a solid performance with annual revenue reaching RMB340 million, marking a 5% increase from the previous year. Despite a net loss of RMB89.2 million, key drivers of growth included an 8% increase in advertising revenue, particularly from the short video business, and a 4% rise in enterprise value-added services revenue. Subscription services revenue also saw a 1% growth.
The company emphasized advancements in AI technology and content ecosystem enrichment, and remains cautiously optimistic about advertising growth in 2024. In the recent developments, 36Kr plans to expand subscription services and further develop generative AI capabilities. Despite the net loss, the company expects robust growth in its advertising business, with a focus on business and AI business sectors. It aims to sustain revenue growth and improved profitability in the coming year. These recent developments provide a glimpse into the company's strategies and expectations for the forthcoming year.
InvestingPro Insights
As 36Kr Holdings Inc. (NASDAQ: KRKR) embarks on its strategic alliance with SenseTime to revolutionize its media operations through Artificial General Intelligence (AGI), it's important for investors to consider the financial health and market performance of the company. According to real-time data from InvestingPro, 36Kr holds a market capitalization of $13.66 million USD, indicating its size within the market. Despite experiencing revenue growth over the last twelve months as of Q4 2023, with a 5.48% increase, the company's Price / Book multiple stands at a low 0.39, which may suggest that the market undervalues the company's assets relative to its share price.
InvestingPro Tips reveal that 36Kr has more cash than debt on its balance sheet, which is a positive sign of financial stability, and it has a high shareholder yield. Nonetheless, the company is not profitable over the last twelve months, and analysts are predicting that the company will turn profitable this year. These factors are crucial for investors who are considering the potential growth and risk associated with 36Kr's stock. The company's stock has also been subject to significant price volatility, with a 1-week price total return showing a decrease of 9.95%.
For investors looking to dive deeper into the financial metrics and strategic positioning of 36Kr, there are additional InvestingPro Tips available at https://www.investing.com/pro/KRKR. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 16 more tips listed on InvestingPro, investors can gain a comprehensive understanding of 36Kr's performance and make more informed decisions.
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