ZKH Group Limited Announces First Quarter 2026 Unaudited Financial Results
Rhea-AI Summary
ZKH Group (NYSE:ZKH) reported first quarter 2026 unaudited results with solid top-line growth and sharply improved profitability. GMV rose 12.9% to RMB2.45 billion, customers grew 11% to 66,742, and net revenues increased 9.2% to RMB2.11 billion.
Gross profit grew 6.6% to RMB354.0 million with a 16.7% gross margin. Operating loss narrowed to RMB22.5 million and net loss to RMB10.1 million. Non-GAAP EBITDA turned positive at RMB4.2 million, and non-GAAP adjusted net profit reached RMB1.7 million. Operating expenses fell 8.8%, and the company repurchased about 1.48 million ADSs under its US$50 million program.
Positive
- GMV up 12.9% year over year to RMB2,452.8 million
- Net revenues up 9.2% year over year to RMB2,113.8 million
- Customers up 11.0% year over year to 66,742
- Operating loss reduced from RMB80.8 million to RMB22.5 million
- Net loss reduced from RMB66.7 million to RMB10.1 million
- Non-GAAP EBITDA turned positive to RMB4.2 million (0.2% margin)
- Non-GAAP adjusted net profit RMB1.7 million vs. RMB50.2 million loss
- Operating expenses down 8.8% to RMB376.5 million
- Fulfillment expenses down 16.8% and 3.7% of net revenues
- Marketplace GMV up 18.3%; GBB platform GMV up 30.6%
- Operating cash outflow improved to RMB34.0 million from RMB97.1 million
- Repurchased ~1.48 million ADSs for about US$4.76 million
Negative
- Gross margin declined from 17.2% to 16.7% of net revenues
- Gross profit as % of GMV fell from 15.3% to 14.4%
- Marketplace take rate decreased from 14.0% to 12.9%
- Company still reported a net loss of RMB10.1 million
- Operating cash flow remained negative at RMB34.0 million used
- Other revenues declined 13.2% to RMB10.9 million
News Market Reaction – ZKH
In the May 21 session, ZKH declined 0.68%, reflecting a mild negative market reaction. Argus tracked a peak move of +4.7% during that session. Argus tracked a trough of -7.8% from its starting point during tracking. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 19 | Q4/FY25 earnings | Positive | -28.7% | Q4 2025 net revenues grew and company returned to GAAP profitability. |
| Nov 20 | Q3 2025 earnings | Positive | +1.6% | Q3 2025 results showed higher revenues, gross profit and narrower operating loss. |
| Aug 22 | Q2 2025 earnings | Neutral | +0.7% | Q2 2025 delivered mixed trends with lower revenues but improved net loss. |
| May 20 | Q1 2025 earnings | Neutral | -3.3% | Q1 2025 showed revenue growth, more customers and narrower operating loss. |
| Mar 18 | Q4/FY24 earnings | Neutral | +0.3% | Q4/FY2024 results were mixed, with flat margin but improved cash flow. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases often triggered volatile reactions, skewed negative on average despite generally improving fundamentals and narrowing losses.
Over the past year, ZKH’s earnings updates showed steady operational improvement: GMV and net revenues grew while losses narrowed and cash balances remained solid. Events on Aug 22, 2025 and Nov 20, 2025 highlighted customer growth and cost control, with mostly positive or mixed reactions. The sharp selloff after the Mar 19, 2026 earnings, despite a return to quarterly profitability, contrasts with the company’s continued focus on AI, efficiency, and expanding SKUs, setting the backdrop for today’s Q1 2026 results.
Key Terms
gmv financial
mro technical
non-gaap ebidta financial
basis points financial
take rate financial
ads financial
exchange rate financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
First Quarter 2026 Operational and Financial Highlights
First Quarter | ||||
2025 | 2026 | Change | ||
(in thousand RMB, except for number of customers, percentage and basis | ||||
GMV[1] | 2,171,997 | 2,452,783 | 12.9 % | |
GMV by Platform | ||||
ZKH Platform | 1,966,210 | 2,183,957 | 11.1 % | |
GBB Platform | 205,787 | 268,826 | 30.6 % | |
GMV by Business Model | ||||
Product Sales (1P) | 1,901,196 | 2,132,441 | 12.2 % | |
Marketplace (3P)[2] | 270,800 | 320,342 | 18.3 % | |
Number of Customers[3] | 60,102 | 66,742 | 11.0 % | |
Net Revenues | 1,935,372 | 2,113,819 | 9.2 % | |
Gross Profit | 332,118 | 354,027 | 6.6 % | |
% of Net Revenues | 17.2 % | 16.7 % | -41.2bps | |
Operating Loss | (80,813) | (22,497) | -72.2 % | |
% of Net Revenues | -4.2 % | -1.1 % | 311.1bps | |
Non-GAAP EBITDA[4] | (51,959) | 4,237 | - | |
% of Net Revenues | -2.7 % | 0.2 % | 288.5bps | |
Net (Loss)/Profit | (66,723) | (10,103) | -84.9 % | |
% of Net Revenues | -3.4 % | -0.5 % | 297.0bps | |
Non-GAAP Adjusted Net (Loss)/Profit[5] | (50,176) | 1,690 | - | |
% of Net Revenues | -2.6 % | 0.1 % | 267.3bps | |
Mr. Eric Long Chen, Chairman and Chief Executive Officer of ZKH, stated, "We are off to a strong start in 2026, with GMV and revenue growth accelerating year over year for the second consecutive quarter. GMV and revenues delivered their highest quarterly year-over-year growth in recent quarters, reflecting robust customer demand and strengthening execution across our platform. Momentum remained broad-based across key customer segments, with small and mid-sized enterprises (SMEs) sustaining over
Mr. Max Chun Chiu Lai, Chief Financial Officer of ZKH, added, "Our financial profile improved meaningfully during the quarter. Gross profit achieved year-over-year growth, while gross margin on a GMV basis improved by 0.9 percentage points sequentially. At the same time, operating loss and net loss narrowed significantly year over year, reflecting ongoing enhancement in our operating efficiency and business quality. Notably, non-GAAP adjusted net profit increased by approximately
[1] GMV is the total transaction value of orders placed on the Company's platform and shipped to customers, excluding taxes, net of the returned amount. |
[2] The marketplace model accounted for |
[3] Customers are customers that transacted with the Company during the reporting period, mainly comprised of enterprise customers in various industries. |
[4] Non-GAAP EBITDA is defined as net profit/(loss) before interest expenses, income tax expenses/(benefits) and depreciation and amortization expenses. |
[5] Non-GAAP adjusted net (loss)/profit is defined as net (loss)/profit excluding share-based compensation expenses. |
First Quarter 2026 Business Highlights
- Business Momentum. The Company continued to build on its growth momentum during the quarter, with total GMV increasing
12.9% year over year, accelerating from both the previous quarter and the same period last year. The ZKH platform deepened penetration across its diversified customer segments: GMV from SME customers was up20% year over year and GMV from central SOE customers returned to double-digit growth. The GBB platform achieved over30% year-over-year GMV growth, further expanding its customer reach and reinforcing the Company's complementary dual-platform growth strategy. - Product Capabilities. The Company strengthened product capabilities across high-value and highly specialized industrial scenarios, with increased investments in ten key product lines, including factory automation, electrical automation, and cutting tools. GMV from key industries such as electrical manufacturing, steel and non-ferrous metals, and communications electronics grew by over
20% year over year, while professional MRO categories such as factory automation components and chemical reagents achieved double-digit growth. During the quarter, the Company added roughly 4 million sellable SKUs, bringing the total to approximately 27 million. At the same time, GMV from higher-margin private-label products grew by over20% year over year and accounted for approximately9.7% of total GMV in the first quarter of 2026, with over 400 new products launched during the quarter. - Fulfillment Network. The Company enhanced its fulfillment capacity and operational efficiency, supported by the continued expansion of its self-operated delivery fleet and a
36% year-over-year improvement in warehouse utilization efficiency. Continued optimization across its end-to-end fulfillment network drove a17% year-over-year decrease in fulfillment expenses. - AI Capabilities. The Company continued to advance its full-stack AI capabilities, further strengthening its integrated AI infrastructure and accelerating AI adoption across both internal and external business scenarios.
- At the data layer, the Company continued to strengthen its industrial product data infrastructure. In 2026, the Company targets building the industry's first hundred-million-scale industrial product data dictionary. The enhanced data capabilities are expected to further accelerate AI adoption across key workflows. In business scenarios involving product search and quotations from customers, AI currently handles roughly
30% of product matching and identification tasks that previously required manual processing. This percentage is expected to increase meaningfully in 2026, with key product lines such as fasteners, pipes and valves, and hand tools potentially achieving even higher levels, further improving quotation efficiency and sales conversion.
- At the data layer, the Company continued to strengthen its industrial product data infrastructure. In 2026, the Company targets building the industry's first hundred-million-scale industrial product data dictionary. The enhanced data capabilities are expected to further accelerate AI adoption across key workflows. In business scenarios involving product search and quotations from customers, AI currently handles roughly
- At the model layer, the Company upgraded its proprietary MRO large language model, "Hangjia Linglong (行家玲珑)," with enhanced multimodal capabilities, and launched "Hangjia Huiyan (行家慧眼)," the industry's first intelligent visual search engine for industrial products. Powered by advanced image recognition and multimodal AI capabilities, Hangjia Huiyan enables intelligent product identification, scenario understanding and demand diagnosis across complex industrial environments, significantly improving communication, product matching and procurement efficiency.
- At the application layer, the Company continued to optimize key AI applications across core business functions, unlocking greater operational efficiency and commercial value across key industrial supply chain scenarios. The ProductRecom Agent (AI推品大脑), which generated over
RMB200 million in sales in 2025, is expected to further scale its impact and commercial contribution in 2026.
- At the application layer, the Company continued to optimize key AI applications across core business functions, unlocking greater operational efficiency and commercial value across key industrial supply chain scenarios. The ProductRecom Agent (AI推品大脑), which generated over
- International Expansion. The Company maintained solid momentum in serving Chinese manufacturers expanding overseas, with continued growth in both customers served and geographic coverage during the quarter. In the U.S. market, the Company further optimized its product development, sales channels, and fulfillment capabilities, strengthening its localized service and operations.
First Quarter 2026 Financial Results
Net Revenues. Net revenues were
First Quarter | ||||||
2025 | 2026 | Change | ||||
(in thousand RMB, except for percentage) | ||||||
Net Revenues | 1,935,372 | 2,113,819 | 9.2 % | |||
Net Product Revenues | 1,884,860 | 2,061,621 | 9.4 % | |||
From ZKH Platform | 1,679,343 | 1,803,055 | 7.4 % | |||
From GBB Platform | 205,517 | 258,566 | 25.8 % | |||
Net Service Revenues | 37,894 | 41,251 | 8.9 % | |||
Other Revenues | 12,618 | 10,947 | -13.2 % | |||
Cost of Revenues. Cost of revenues was
Gross Profit and Gross Margin. Gross profit was
First Quarter | ||||||
2025 | 2026 | Change | ||||
(in thousand RMB, except for percentage and | ||||||
Gross Profit | 332,118 | 354,027 | 6.6 % | |||
% of Net Revenues | 17.2 % | 16.7 % | -41.2bps | |||
% of GMV | 15.3 % | 14.4 % | -85.7bps | |||
Under Product Sales (1P) | ||||||
ZKH Platform | 278,618 | 295,205 | 6.0 % | |||
% of Net Product Revenues from | 16.6 % | 16.4 % | -21.8bps | |||
GBB Platform | 12,687 | 15,669 | 23.5 % | |||
% of Net Product Revenues from | 6.2 % | 6.1 % | -11.3bps | |||
Under Marketplace (3P) | 37,894 | 41,251 | 8.9 % | |||
% of Net Service Revenues | 100.0 % | 100.0 % | - | |||
% of GMV from the Marketplace Model | 14.0 % | 12.9 % | -111.6bps | |||
Others | 2,918 | 1,902 | -34.8 % | |||
% of Other Revenues | 23.1 % | 17.4 % | -575.1bps | |||
Operating Expenses. Operating expenses were
- Fulfillment Expenses. Fulfillment expenses were
RMB77.6 million (US ), down$11.3 million 16.8% fromRMB93.3 million in the same period of 2025, primarily due to lower distribution expenses, employee benefits expenses and rental and property management fees. Fulfillment expenses were3.7% of net revenues, compared with4.8% in the same period of 2025. - Sales and Marketing Expenses. Sales and marketing expenses were
RMB137.6 million (US ), up$20.0 million 0.6% fromRMB136.8 million in the same period of 2025, primarily due to higher employee benefits expenses, partially offset by lower marketing and promotion expenses, as well as traveling expenses. Sales and marketing expenses were6.5% of net revenues, compared with7.1% in the same period of 2025. - Research and Development Expenses. Research and development expenses were
RMB29.3 million (US ), down$4.3 million 25.9% fromRMB39.6 million in the same period of 2025, primarily due to lower employee benefits expenses. Research and development expenses were1.4% of net revenues, compared with2.0% in the same period of 2025. - General and Administrative Expenses. General and administrative expenses were
RMB131.9 million (US ), down$19.1 million 7.9% fromRMB143.2 million in the same period of 2025, primarily due to lower employee benefits expenses and loss on inventory write-down and disposal, partially offset by higher service fee. General and administrative were6.2% of net revenues, compared with 7.4 % in the same period of 2025.
Loss from Operations. Loss from operations was
Non-GAAP EBITDA. Non-GAAP EBITDA was
Net Loss. Net loss was
Non-GAAP Adjusted Net Profit/(Loss). Non-GAAP adjusted net profit was
Basic and Diluted Net Profit/(Loss) per ADS[7] and Non-GAAP Adjusted Basic and Diluted Net Profit/(Loss) per ADS[8]. Basic and diluted net loss per ADS was
Balance Sheet and Cash Flow
As of March 31, 2026, the Company had cash and cash equivalents, restricted cash, and short-term investments of
Net cash used in operating activities was
Share Repurchase Update
Pursuant to the Company's share repurchase program of up to
Exchange Rate
This announcement contains translations of certain Renminbi ("RMB") amounts into
[6] Take rate of the marketplace model represents gross profit from the marketplace model divided by GMV from the marketplace model. |
[7] ADSs are American depositary shares, each of which represents thirty-five (35) Class A ordinary shares of the Company. |
[8] Non-GAAP adjusted basic and diluted net profit/(loss) per ADS is a non-GAAP financial measure, which is calculated by dividing non-GAAP adjusted net profit/(loss) attributable to the Company's ordinary shareholders by the weighted average number of ADSs. |
Conference Call Information
The Company's management will hold a conference call on Thursday, May 21, 2026, at 7:00 A.M.
+1-888-317-6003 | |
International: | +1-412-317-6061 |
Mainland | 400-120-6115 |
800-963-976 | |
+852-5808-1995 | |
Access Code: | 2335796 |
The replay will be accessible through May 28, 2026 by dialing the following numbers:
+1-855-669-9658 | |
International: | +1-412-317-0088 |
Replay Access Code: | 6840038 |
A live and archived webcast of the conference call will also be available on the Company's investor relations website at https://ir.zkh.com.
About ZKH Group Limited
ZKH Group Limited (NYSE: ZKH) is a leading MRO procurement service platform in
For more information, please visit: https://ir.zkh.com.
Use of Non-GAAP Financial Measures
This press release contains the following non-GAAP financial measures: non-GAAP adjusted net (loss)/profit, non-GAAP adjusted net (loss)/profit per ADS, basic and diluted, and non-GAAP EBITDA. The non-GAAP financial measures should not be considered in isolation from or construed as alternatives to their most directly comparable financial measures prepared in accordance with accounting principles generally accepted in
The Company defines non-GAAP adjusted net (loss)/profit for a specific period as net loss in the same period excluding share-based compensation expenses. The Company defines non-GAAP EBITDA as net loss before interest expenses, income tax expenses/(benefits) and depreciation and amortization expenses. Non-GAAP adjusted net (loss)/profit per ADS is calculated by dividing adjusted net (loss)/profit attributable to the Company's ordinary shareholders by the weighted average number of ordinary shares during the periods and then multiplied by 35.
The Company presents these non-GAAP financial measures because they are used by the management to evaluate the Company's operating performance and formulate business plans. The Company believes that these non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that are included in net loss and certain expenses that are not expected to result in future cash payments or that are non-recurring in nature. The Company also believes that the use of these non-GAAP financial measures facilitates investors' assessment of its operating performance, enhances the overall understanding of its past performance and future prospects and allows for greater visibility with respect to key metrics used by the management in financial and operational decision making.
The non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies. The Company's non-GAAP financial measures do not include all income and expense items that affect the Company's operations. They may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider the non-GAAP financial measures as substitutes for, or superior to, their most directly comparable financial measures prepared in accordance with GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of Non-GAAP Results" set forth at the end of this press release.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made pursuant to the "safe harbor" provisions of the
For investor and media inquiries, please contact:
ZKH Group Limited
IR Department
E-mail: IR@zkh.com
Christensen Advisory
Email: zkh@christensencomms.com
ZKH GROUP LIMITED | ||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | ||||||
As of December 31, | As of March 31, | |||||
2025 | 2026 | |||||
RMB | RMB | US$ | ||||
Assets | ||||||
Current assets: | ||||||
Cash and cash equivalents | 1,030,573 | 1,074,095 | 155,711 | |||
Restricted cash | 61,871 | 50,891 | 7,378 | |||
Short-term investments | 825,289 | 710,454 | 102,994 | |||
Accounts receivable (net of allowance for credit losses of 2025 and March 31, 2026, respectively) | 3,257,162 | 3,078,948 | 446,354 | |||
Notes receivable | 113,291 | 142,929 | 20,720 | |||
Inventories | 669,825 | 642,102 | 93,085 | |||
Prepayments and other current assets | 180,188 | 179,508 | 26,023 | |||
Total current assets | 6,138,199 | 5,878,927 | 852,265 | |||
Non-current assets: | ||||||
Property and equipment, net | 186,185 | 183,313 | 26,575 | |||
Land use right | 10,582 | 10,526 | 1,526 | |||
Operating lease right-of-use assets, net | 142,205 | 130,844 | 18,968 | |||
Intangible assets, net | 21,871 | 27,057 | 3,922 | |||
Goodwill | 30,807 | 30,807 | 4,466 | |||
Total non-current assets | 391,650 | 382,547 | 55,457 | |||
Total assets | 6,529,849 | 6,261,474 | 907,722 | |||
Liabilities | ||||||
Current liabilities: | ||||||
Short-term borrowings | 240,000 | 230,000 | 33,343 | |||
Current portion of long-term borrowings | 2,305 | 2,305 | 334 | |||
Accounts and notes payable | 2,718,941 | 2,487,578 | 360,623 | |||
Operating lease liabilities | 50,202 | 47,083 | 6,826 | |||
Advance from customers | 27,152 | 37,805 | 5,481 | |||
Accrued expenses and other current liabilities | 378,566 | 390,097 | 56,552 | |||
Derivatives | 8,624 | - | - | |||
Total current liabilities | 3,425,790 | 3,194,868 | 463,159 | |||
Non-current liabilities: | ||||||
Long-term borrowings | 42,651 | 42,651 | 6,183 | |||
Non-current operating lease liabilities | 91,894 | 83,247 | 12,068 | |||
Other non-current liabilities | 28,181 | 34,969 | 5,069 | |||
Total non-current liabilities | 162,726 | 160,867 | 23,320 | |||
Total liabilities | 3,588,516 | 3,355,735 | 486,479 | |||
As of December 31, | As of March 31, | |||||
2025 | 2026 | |||||
RMB | RMB | US$ | ||||
ZKH Group Limited shareholders' equity: | ||||||
Ordinary shares ( | 4 | 4 | 1 | |||
Additional paid-in capital | 8,370,941 | 8,385,264 | 1,215,607 | |||
Statutory reserves | 6,566 | 6,566 | 952 | |||
Accumulated other comprehensive income/(loss) | (37,288) | (67,426) | (9,775) | |||
Accumulated deficit | (5,317,131) | (5,327,234) | (772,287) | |||
Treasury stock | (81,759) | (91,435) | (13,255) | |||
Total ZKH Group Limited shareholders' equity | 2,941,333 | 2,905,739 | 421,243 | |||
Total liabilities and shareholders' deficit | 6,529,849 | 6,261,474 | 907,722 | |||
ZKH GROUP LIMITED | |||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (LOSS)/PROFIT | |||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||
For the three months ended | |||||
March 31, 2025 | March 31, 2026 | ||||
RMB | RMB | US$ | |||
Net revenues | |||||
Net product revenues | 1,884,860 | 2,061,621 | 298,872 | ||
Net service revenues | 37,894 | 41,251 | 5,980 | ||
Other revenues | 12,618 | 10,947 | 1,587 | ||
Total net revenues | 1,935,372 | 2,113,819 | 306,439 | ||
Cost of revenues | (1,603,254) | (1,759,792) | (255,116) | ||
Operating expenses | |||||
Fulfillment | (93,307) | (77,608) | (11,251) | ||
Sales and marketing | (136,835) | (137,640) | (19,954) | ||
Research and development | (39,613) | (29,342) | (4,254) | ||
General and administrative | (143,176) | (131,934) | (19,126) | ||
Loss from operations | (80,813) | (22,497) | (3,262) | ||
Interest and investment income | 13,279 | 8,407 | 1,219 | ||
Interest expense | (2,350) | (2,263) | (328) | ||
Others, net | 3,408 | 6,765 | 981 | ||
Loss before income tax | (66,476) | (9,588) | (1,390) | ||
Income tax expenses | (247) | (515) | (75) | ||
Net loss | (66,723) | (10,103) | (1,465) | ||
Less: net income attributable to non-controlling | - | - | - | ||
Less: net loss attributable to redeemable non- | - | - | - | ||
Net loss attributable to ZKH Group Limited | (66,723) | (10,103) | (1,465) | ||
Accretion on preferred shares to redemption | - | - | - | ||
Net loss attributable to ZKH Group Limited's | (66,723) | (10,103) | (1,465) | ||
For the three months ended | |||||
March 31, 2025 | March 31, 2026 | ||||
RMB | RMB | US$ | |||
Net loss | (66,723) | (10,103) | (1,465) | ||
Other comprehensive loss: | |||||
Foreign currency translation adjustments | (3,008) | (30,138) | (4,369) | ||
Total comprehensive loss | (69,731) | (40,241) | (5,834) | ||
Less: comprehensive income attributable to non- | - | - | - | ||
Less: comprehensive loss attributable to | - | - | - | ||
Comprehensive loss attributable to ZKH | (69,731) | (40,241) | (5,834) | ||
Accretion on Preferred Shares to redemption | - | - | - | ||
Total comprehensive loss attributable to ZKH | (69,731) | (40,241) | (5,834) | ||
Net loss per ordinary share attributable to | |||||
Basic | (0.01) | (0.00) | (0.00) | ||
Diluted | (0.01) | (0.00) | (0.00) | ||
Weighted average number of shares | |||||
Basic | 5,695,083,577 | 5,641,256,369 | 5,641,256,369 | ||
Diluted | 5,695,083,577 | 5,641,256,369 | 5,641,256,369 | ||
Net loss per ADS attributable to ordinary | |||||
Basic | (0.41) | (0.06) | (0.01) | ||
Diluted | (0.41) | (0.06) | (0.01) | ||
Weighted average number of ADS (35 Class A | |||||
Basic | 162,716,674 | 161,178,753 | 161,178,753 | ||
Diluted | 162,716,674 | 161,178,753 | 161,178,753 | ||
ZKH GROUP LIMITED | |||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS | |||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||
For the three months ended | |||||
March 31, 2025 | March 31, 2026 | ||||
RMB | RMB | US$ | |||
Net loss | (66,723) | (10,103) | (1,465) | ||
Income tax expenses | 247 | 515 | 75 | ||
Interest expenses | 2,350 | 2,263 | 328 | ||
Depreciation and amortization expense | 12,167 | 11,562 | 1,676 | ||
Non-GAAP EBITDA | (51,959) | 4,237 | 614 | ||
For the three months ended | |||||
March 31, 2025 | March 31, 2026 | ||||
RMB | RMB | US$ | |||
Net loss | (66,723) | (10,103) | (1,465) | ||
Add: | |||||
Share-based compensation expenses | 16,547 | 11,793 | 1,709 | ||
Non-GAAP adjusted net (loss)/profit | (50,176) | 1,690 | 244 | ||
Non-GAAP adjusted net (loss)/profit | |||||
Basic | (0.01) | 0.00 | 0.00 | ||
Diluted | (0.01) | 0.00 | 0.00 | ||
Weighted average number of ordinary shares | |||||
Basic | 5,695,083,577 | 5,641,256,369 | 5,641,256,369 | ||
Diluted | 5,695,083,577 | 5,641,256,369 | 5,641,256,369 | ||
Non-GAAP adjusted net (loss)/profit | |||||
Basic | (0.31) | 0.01 | 0.00 | ||
Diluted | (0.31) | 0.01 | 0.00 | ||
Weighted average number of ADS (35 Class A | |||||
Basic | 162,716,674 | 161,178,753 | 161,178,753 | ||
Diluted | 162,716,674 | 161,178,753 | 161,178,753 | ||
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SOURCE ZKH Group Limited