Exploring 36Kr Holdings Inc. (KRKR) Investor Profile: Who’s Buying and Why?

You're looking at 36Kr Holdings Inc. (KRKR) and wondering why the story doesn't quite add up, right? This is a New Economy platform in China, but when you check the cap table, you see a glaring anomaly: institutional ownership is effectively nonexistent, hovering at a reported 0.00% of the float, suggesting this is almost entirely a retail-driven stock. That's a huge red flag for a seasoned analyst, because the big money-the BlackRocks and Fidelitys of the world-aren't there yet, holding a total of only around 7,650 shares across all institutional investors. But here's the twist: the company is showing signs of a turnaround, slashing its net loss to just CNY 4.8 million in the first half of 2025, a massive improvement from the prior year. So, with the stock trading around $5.44 as of November 2025, and a handful of institutions like UBS Group AG still holding a small position of 10,785 shares, the question isn't just who is buying, but whether the smart money is about to move in on a deeply undervalued turnaround story, or if this remains a classic retail favorite with a $31.16M trailing twelve-month revenue that hasn't yet caught the institutional eye. Let's dig into the filings and see what the few major holders are signaling.

Who Invests in 36Kr Holdings Inc. (KRKR) and Why?

If you're looking at 36Kr Holdings Inc. (KRKR), you're essentially looking at a stock dominated by individual conviction, not institutional mandates. The direct takeaway here is that KRKR's investor profile is overwhelmingly retail-driven, making it a highly speculative, sentiment-sensitive asset.

This is a small-cap, China-based New Economy platform, and the institutional ownership-the big mutual funds and pensions-is exceptionally low. One analysis suggests institutional ownership is near 0.00%, with retail investors holding the vast majority of shares. This is not a stock BlackRock or Vanguard is piling into for their core index funds. Still, a few institutions hold small, positional stakes, often for arbitrage or specialized mandates.

• UBS Group AG: Held 10,785 shares as of June 30, 2025.
• Morgan Stanley: Held 619 shares as of June 30, 2025.
• Bnp Paribas Financial Markets: Held 443 shares as of June 30, 2025.

Here's the quick math: these positions are tiny, indicating either passive index tracking or minimal, high-risk allocations. The story of KRKR is defintely told by the individual investor.

Investment Motivations: The Turnaround and New Economy Play

The primary attraction for investors, particularly the dominant retail base, is the potential for a significant turnaround and exposure to China's 'New Economy,' which the company serves as a pioneering platform. This is a growth play, not a dividend play-KRKR does not pay dividends.

The biggest recent motivator is the dramatic improvement in profitability. For the first half of 2025, 36Kr Holdings Inc. reported a net loss of RMB 4.8 million (US$0.67 million). This is a massive narrowing, representing a 95% reduction in net loss year-over-year. That's a powerful narrative for investors looking for an inflection point.

Plus, the company's business model is diversifying beyond just content into online advertising and enterprise value-added services, which is where the growth potential lies. Its gross margin also expanded significantly, reaching 54.4% in the first half of 2025, up 10 percentage points from the prior year. You're betting on management's ability to execute on cost control and strategic expansion, especially leveraging AI technology to expand their influence and commercialization opportunities.

Investment Strategies: Speculation and Value Hunting

Given the low institutional interest and high retail ownership, the typical strategies for 36Kr Holdings Inc. skew toward short-term speculation and high-risk value investing, rather than long-term, buy-and-hold strategies common in large-cap stocks. The stock price volatility-with a 52-week high of $21.36 and a low of $2.76-reflects this speculative nature.

The technical analysis available as of November 2025 indicates a 'Sell' evaluation with a falling trend, which suggests that many short-term traders are still exiting or shorting the stock, despite the fundamental improvements. For the long-term investor, the strategy is a deep-dive into the company's core mission and values, which you can review here: Mission Statement, Vision, & Core Values of 36Kr Holdings Inc. (KRKR).

What this estimate hides is the inherent geopolitical and regulatory risk of a Chinese New Economy stock listed on the NASDAQ, which adds a layer of complexity that often scares off large, passive institutional money. The next step is clear: Finance needs to model a sensitivity analysis on the RMB 75.1 million cash position against a sustained revenue decline by Friday.

Institutional Ownership and Major Shareholders of 36Kr Holdings Inc. (KRKR)

You're looking at 36Kr Holdings Inc. (KRKR) and seeing a low share price, so you want to know who the big money is betting on-or against. The direct takeaway is that institutional ownership in KRKR is quite small in absolute terms, but the recent activity shows a dramatic shift in commitment from a few key players, driven by the company's significant financial improvement in the first half of 2025.

The total institutional value of long positions is minimal, around $51 thousand USD as of the most recent reporting period, which is a tiny fraction of a typical fund's portfolio. Still, the movement is what matters here. We saw the total number of institutional owners drop by -20.00% in the most recent quarter, but the remaining holders are making big, targeted moves. It's a low-float stock, so any institutional trade moves the needle.

Top Institutional Investors and Their Stakes

The institutional landscape for 36Kr Holdings Inc. is concentrated, with a handful of major financial institutions holding the majority of the institutional float. This isn't a stock widely held across hundreds of mutual funds; it's a niche, high-risk, high-reward bet for a few big names. The total institutional share count stands at approximately 12,220 shares.

The largest institutional holders, based on filings up to the second quarter of 2025, are led by major global banks and financial services firms. Here's a quick look at the top three, which account for the bulk of institutional activity:

• UBS Group AG: The largest holder, making a massive percentage increase.
• Morgan Stanley: A consistent holder, maintaining a smaller but significant position.
• Bnp Paribas Financial Markets: A key player whose recent activity shows a slight reduction.

Honestly, these are not massive dollar amounts for these firms, but their presence signals a belief in the underlying New Economy narrative of the company. For more on the company's background, check out 36Kr Holdings Inc. (KRKR): History, Ownership, Mission, How It Works & Makes Money.

Recent Shifts in Institutional Ownership

The recent changes in ownership are defintely a mixed bag, showing both aggressive accumulation and cautious trimming. The total institutional shares decreased by -36.27% in the most recent quarter, which seems bearish on the surface. But look closer: this is mostly due to small funds exiting completely, not the major players liquidating.

The most compelling data point is the move by UBS Group AG, which increased its stake by an astounding 20640.385% as of June 30, 2025, now holding 10,785 shares. That's a huge vote of confidence. Conversely, Bnp Paribas Financial Markets trimmed its position by -9.221%. This tells me that while some institutions are losing patience with the stock's volatility and low float, others are seeing a clear inflection point and are moving in fast. You have to be comfortable with volatility here.

Impact of Institutional Investors on Strategy and Price

These institutional investors play a crucial role, not just by providing liquidity, but by validating the company's strategic pivot. Why are they buying now? The 'why' is grounded in the 2025 fiscal data and strategic focus. 36Kr Holdings Inc. has dramatically reduced its financial bleed.

In the first half of 2025, the net loss attributable to ordinary shareholders plummeted to just CNY 5 million, a massive improvement from the CNY 94.4 million loss in the same period last year. That's a clear path toward profitability. Plus, the company is sitting on cash, cash equivalents, and short-term investments of CNY 75.1 million as of June 30, 2025.

The institutional bet is on the company's pivot to the New Economy in China, specifically:

• AI Commercialization: Partnering with Doubao to launch an exclusive AI agent, which saw a consistent 10% weekly increase in user interaction in H1 2025.
• Global Expansion Services: Launching the Chinese Enterprise International Service Center operations project, which leverages their content and network for corporate global expansion.

Their investment is a signal that the market is beginning to recognize this turnaround. The stock price, which was around $5.44 per share in November 2025, is being supported by this narrative of reduced losses and strategic growth. The institutional money is betting that the company can execute on its AI and global strategy to turn that reduced net loss into a net profit soon.

Key Investors and Their Impact on 36Kr Holdings Inc. (KRKR)

If you're looking at 36Kr Holdings Inc. (KRKR), the first thing you need to understand is that the investor profile is a tale of two very different groups: a handful of passive institutional funds and one overwhelmingly dominant insider. The real power here lies with the company's leadership, not the public market institutions.

The company operates with a dual-class share structure, which means the CEO and Chairman, Dagang Feng, through his holding company, Palopo Holding Limited, controls the vast majority of voting power. This structure is defintely the most critical factor for any potential investor to grasp.

The Overwhelming Power of the Insider

The most notable and influential investor is the company's own leadership. In a significant move on August 19, 2025, 36Kr Holdings Inc. approved the issuance of 54,958,400 newly created Class C ordinary shares to Palopo Holding Limited, which is beneficially owned by Mr. Feng. These Class C shares carry 100 votes per share, compared to the one-vote-per-share for other classes.

This transaction solidified control, giving Palopo Holding Limited approximately 74.5% of the company's total voting power. This level of control means that major corporate decisions-from mergers to board appointments-are effectively insulated from the votes of public shareholders, including institutions. You are buying into the vision and direction of the current management team, period.

• Dominant Investor: Dagang Feng (via Palopo Holding Limited).
• Voting Power: Approximately 74.5% as of August 2025.
• Influence: Absolute control over strategic direction and corporate governance.

Institutional Holdings: A Passive Footprint

The institutional investor landscape for 36Kr Holdings Inc. is remarkably small, signaling that most large funds view this as a niche or high-risk micro-cap play. As of mid-2025, the total institutional ownership percentage is negligible, with some data suggesting it's near 0.00% of total shares outstanding, meaning retail investors hold nearly all the public float.

Still, a few well-known firms hold small, passive stakes, primarily for index tracking or minimal exposure. The largest individual institutional shareholder as of June 30, 2025, was UBS Group AG, holding 10,785 shares, with a market value of around $58 thousand at the time. Morgan Stanley and BNP Paribas Financial Markets also hold small positions.

Here's the quick math on the top institutional holders, based on 2025 filings:

What this low institutional ownership hides is that these investors have virtually no influence on the company's operational or strategic decisions. Their small stakes are not activist positions; they are purely financial, and their buying or selling activity is unlikely to move the stock price in a sustained way.

Near-Term Risks and Opportunities Mapping

The recent financial performance provides the 'why' behind any new institutional interest. For the first half of 2025 (H1 2025), 36Kr Holdings Inc. reported a significant narrowing of its net loss by 95% to RMB4.8 million (approximately US$0.67 million), which is a huge efficiency gain. This cost optimization is the opportunity for new investors.

The risk, however, is that revenue still fell, with total revenues decreasing to RMB93.2 million (US$13.0 million) in H1 2025. The company is focused on AI empowerment and industrial services for growth, but the market is still waiting for that to translate into top-line expansion. If you want to dive deeper into the business model, you can check out 36Kr Holdings Inc. (KRKR): History, Ownership, Mission, How It Works & Makes Money.

A recent notable move by an institutional investor was Eversource Wealth Advisors, LLC, which added 93 shares to its portfolio in Q2 2025, a small but positive signal of accumulation. This move, alongside the company's improved gross profit margin of 54.4% in H1 2025, suggests the narrative is shifting from a high-burn startup to an operationally focused business, which could attract more passive funds down the line.

Next Step: Track the Q3 2025 revenue figures to confirm if the cost-cutting (net loss reduction) is sustainable without sacrificing market share.

Market Impact and Investor Sentiment

You're looking at 36Kr Holdings Inc. (KRKR) and trying to figure out if the big money is buying, and honestly, the answer is a clear picture of a stock driven almost entirely by retail investors. The direct takeaway is that institutional conviction is extremely low, but the handful of institutions that are in the stock have been net accumulators, which is a subtle positive signal.

As of late 2025, institutional ownership in 36Kr Holdings Inc. is negligible, clocking in at around 0.00% of the company, meaning the stock is overwhelmingly controlled by retail investors. This low institutional float is a key factor in its high volatility. The total number of shares held by institutions is a mere 7,650. When you see a stock with a 52-week range spanning from a low of $2.76 to a high of $21.36, you're defintely seeing the effects of a retail-dominated market where sentiment can shift fast.

• UBS Group AG holds the largest institutional position with 10,785 shares.
• Morgan Stanley and BNP Paribas Financial Markets are also listed as holders.
• In the second quarter of 2025, 1 institutional investor added shares, and 0 decreased their position, showing a slight accumulation trend.

Recent Market Reactions to Ownership Shifts

The stock market's reaction to 36Kr Holdings Inc.'s corporate news and ownership changes is sharp and immediate, typical for a low-float, retail-heavy name. For instance, the stock had a massive surge of 66% in the month leading up to September 2025, pushing its one-year gain to 78%. This kind of move is less about a slow, deliberate institutional build-up and more about concentrated retail enthusiasm or a short squeeze.

But still, the market can be brutal when expectations aren't met. When the company reported its unaudited first half of 2025 financial results on September 26, 2025, the stock immediately declined by 6.83% in pre-market trading. This happened even though the company showed significant financial improvement, with the net loss narrowing by a dramatic 95% to RMB4.8 million and the gross profit margin increasing by 10 percentage points to 54.4%. Here's the quick math: the market focused on the revenue decline-total revenues were RMB93.2 million (US$13.0 million), down from the prior year-instead of the strong margin improvement.

Analyst Perspectives on Key Investors and Future Impact

Analyst perspectives on 36Kr Holdings Inc. are incredibly polarized, which is another signal that the investment case is highly speculative. Some analysts see a deep value play, while others see significant risk. This divergence is exactly what you need to map out your own risk/reward.

One set of analysts gives the stock a consensus 'Buy' rating based on the opinions of 7 analysts, but their average 12-month price target is only $1.24, which implies a massive downside of -78.54% from the current price of around $5.05. That's a huge disconnect. Conversely, another perspective, based on a single analyst, has a consensus 'Sell' rating with a predicted downside of -100.00%.

What this estimate hides is the high-growth potential baked into the company's New Economy focus and AI initiatives. The company is projecting significant growth for the 2025 fiscal year, with consensus revenue estimates at $652.9M (a +182.6% jump from 2024) and a projected Earnings Per Share (EPS) of $2.00. The key is whether their AI products-which saw online advertising revenue grow over 50% year-over-year in H1 2025-can deliver on the promise of profitability by the end of 2025.

If you want to dig deeper into the fundamentals behind these projections, you should check out Breaking Down 36Kr Holdings Inc. (KRKR) Financial Health: Key Insights for Investors.

The low institutional ownership means the company's future is less dependent on a BlackRock or a Vanguard move, and more on its ability to execute on its AI-driven strategy and the subsequent sentiment of the retail crowd. The action here is simple: track the revenue growth from the AI segment in the next earnings report.