ZKH Group Limited Announces Second Quarter 2025 Unaudited Financial Results
ZKH Group (NYSE:ZKH), a leading Chinese MRO procurement platform, reported Q2 2025 financial results showing mixed performance. Net revenues decreased 3.7% YoY to RMB2.17 billion (US$302.5 million), while net loss improved by 19.3% to RMB53.5 million (US$7.5 million).
The company achieved significant customer base growth of 53.5% YoY to 74,854 customers, with particularly strong growth in the GBB Platform (+160.9%). However, GMV declined 12.1% to RMB2.42 billion, primarily due to strategic optimization of low-margin businesses.
Notable developments include the operational launch of the Taicang facility for R&D and production of private-label products, continued international expansion, and an ongoing share repurchase program. The company maintains a strong financial position with RMB1.85 billion in cash and equivalents.
ZKH Group (NYSE:ZKH), piattaforma cinese leader nell'approvvigionamento MRO, ha pubblicato i risultati del secondo trimestre 2025, mostrando una performance mista. Le entrate nette sono calate del 3,7% su base annua, a RMB2,17 miliardi (US$302,5 milioni), mentre la perdita netta si è ridotta del 19,3%, attestandosi a RMB53,5 milioni (US$7,5 milioni).
La società ha registrato una forte crescita della clientela, con un aumento del 53,5% su base annua a 74.854 clienti, trainata in particolare dalla piattaforma GBB (+160,9%). Tuttavia, il GMV è diminuito del 12,1% a RMB2,42 miliardi, principalmente a causa di una strategia di ottimizzazione delle attività a basso margine.
Tra gli sviluppi rilevanti: l'avvio operativo del centro di Taicang per R&D e produzione di marchi privati, la prosecuzione dell'espansione internazionale e un programma di riacquisto di azioni ancora in corso. La società conserva una solida posizione finanziaria con RMB1,85 miliardi in liquidità e equivalenti.
ZKH Group (NYSE:ZKH), una plataforma china líder en aprovisionamiento MRO, presentó sus resultados del segundo trimestre de 2025 con un desempeño mixto. Los ingresos netos cayeron un 3,7% interanual, hasta RMB2.170 millones (US$302,5 millones), mientras que la pérdida neta mejoró un 19,3%, situándose en RMB53,5 millones (US$7,5 millones).
La compañía logró un notable crecimiento de su base de clientes, con un aumento del 53,5% interanual hasta 74.854 clientes, impulsado especialmente por la plataforma GBB (+160,9%). No obstante, el GMV se redujo un 12,1% a RMB2.420 millones, debido principalmente a la optimización estratégica de negocios de bajo margen.
Entre los hitos destaca la puesta en marcha operativa de la instalación de Taicang para I+D y producción de marcas propias, la expansión internacional continua y un programa de recompra de acciones en curso. La compañía mantiene una posición financiera sólida con RMB1.850 millones en efectivo y equivalentes.
ZKH Group (NYSE:ZKH), 중국의 선도적인 MRO 조달 플랫폼은 2025년 2분기 실적을 발표하며 엇갈린 성과를 보였습니다. 순매출은 전년 대비 3.7% 감소한 RMB21.7억(미화 3억2,250만 달러)였고, 순손실은 19.3% 개선되어 RMB5,350만(미화 750만 달러)을 기록했습니다.
회사는 고객 기반이 전년 대비 53.5% 증가해 74,854명��� 달성했으며, 특히 GBB 플랫폼이 +160.9%로 크게 성장했습니다. 다만 전략적으로 저마진 사업을 정리하면서 GMV는 12.1% 감소한 RMB24.2억으로 집계되었습니다.
주요 사항으로는 사설 브랜드의 연구개발 및 생산을 위한 태창(Taicang) 시설의 운영 개시, 지속적인 해외 확장, 진행 중인 자사주 매입 프로그램이 있으며, 현금 및 현금성자산 RMB18.5억으로 재무 건전성을 유지하고 있습니다.
ZKH Group (NYSE:ZKH), plateforme chinoise majeure d'approvisionnement MRO, a publié ses résultats du deuxième trimestre 2025, affichant des performances contrastées. Les revenus nets ont diminué de 3,7% en glissement annuel, à 2,17 milliards de RMB (302,5 M$), tandis que la perte nette s'est réduite de 19,3%, à 53,5 millions de RMB (7,5 M$).
La société a enregistré une forte croissance de sa clientèle, en hausse de 53,5% en glissement annuel pour atteindre 74 854 clients, portée notamment par la plateforme GBB (+160,9%). Cependant, le GMV a diminué de 12,1% à 2,42 milliards de RMB, principalement en raison de l'optimisation stratégique des activités à faibles marges.
Parmi les faits marquants: le démarrage opérationnel de l'installation de Taicang dédiée à la R&D et à la production de marques propres, la poursuite de l'expansion internationale et un programme de rachat d'actions en cours. La société conserve une position financière solide avec 1,85 milliard de RMB en trésorerie et équivalents.
ZKH Group (NYSE:ZKH), eine führende chinesische MRO-Beschaffungsplattform, legte die Finanzergebnisse für Q2 2025 vor und zeigte gemischte Ergebnisse. Die Nettoerlöse sanken im Jahresvergleich um 3,7% auf RMB2,17 Mrd. (US$302,5 Mio.), während der Nettoverlust um 19,3% verbessert wurde und nun bei RMB53,5 Mio. (US$7,5 Mio.) liegt.
Das Unternehmen verzeichnete ein starkes Kundenwachstum von 53,5% im Jahresvergleich auf 74.854 Kunden, getragen von besonders starkem Zuwachs auf der GBB-Plattform (+160,9%). Der GMV ging jedoch um 12,1% auf RMB2,42 Mrd. zurück, was hauptsächlich auf die strategische Straffung margenarmer Geschäftsbereiche zurückzuführen ist.
Zu den bemerkenswerten Entwicklungen zählen die betriebliche Inbetriebnahme der Taicang-Anlage für F&E und die Produktion von Eigenmarken, die anhaltende internationale Expansion und ein laufendes Aktienrückkaufprogramm. Das Unternehmen verfügt weiterhin über eine solide Finanzlage mit RMB1,85 Mrd. an Barmitteln und Äquivalenten.
- Net loss improved by 19.3% YoY to RMB53.5 million
- Customer base grew 53.5% YoY to 74,854 customers
- GBB Platform customer growth of 160.9% YoY
- Private-label products GMV outpaced overall business growth
- Product sales model's gross margin and marketplace take rate improved YoY
- Strong cash position of RMB1.85 billion
- Net revenues declined 3.7% YoY to RMB2.17 billion
- GMV decreased 12.1% YoY to RMB2.42 billion
- Marketplace (3P) GMV dropped 49.7% YoY
- Gross margin declined to 16.5% from 17.0% YoY
- Operating loss increased 1.0% YoY to RMB72.0 million
- Net cash used in operations was RMB110.7 million vs. net cash generated of RMB122.1 million in Q2 2024
Insights
ZKH reports mixed Q2 results with narrowing losses despite revenue decline, focusing on higher-margin business while expanding customer base.
ZKH's Q2 2025 results reveal a company navigating challenging macro conditions through strategic repositioning toward quality over volume. Despite a
The revenue decline stems primarily from ZKH's deliberate move away from low-margin marketplace businesses with extended credit terms, resulting in a substantial
Customer acquisition remains strong with total customers growing
Cash position stands at
The continued share repurchase program signals management's confidence, with approximately
While short-term growth is sacrificed for long-term sustainability, ZKH's narrowing losses, improved margins, and strategic investments in private-label offerings and international expansion position the company for potentially stronger performance once market conditions improve.
Second Quarter 2025 Operational and Financial Highlights
in thousand RMB, except for number of customers, | Second Quarter | ||
2024 | 2025 | Change | |
GMV[1] | 2,754,591 | 2,420,233 | -12.1 % |
GMV by Platform | |||
ZKH Platform | 2,479,915 | 2,144,362 | -13.5 % |
GBB Platform | 274,676 | 275,871 | 0.4 % |
GMV by Business Model | |||
Product Sales (1P) | 2,185,351 | 2,133,895 | -2.4 % |
Marketplace (3P)[2] | 569,240 | 286,338 | -49.7 % |
Number of Customers[3] | 48,766 | 74,854 | 53.5 % |
ZKH Platform | 34,360 | 37,271 | 8.5 % |
GBB Platform | 14,406 | 37,583 | 160.9 % |
Net Revenues | 2,249,996 | 2,166,774 | -3.7 % |
Gross Profit | 382,991 | 356,987 | -6.8 % |
% of Net Revenues | 17.0 % | 16.5 % | -54.6bps |
Operating Loss | (71,213) | (71,957) | 1.0 % |
% of Net Revenues | -3.2 % | -3.3 % | -15.6bps |
Non-GAAP EBITDA[4] | (47,068) | (38,663) | -17.9 % |
% of Net Revenues | -2.1 % | -1.8 % | 30.8bps |
Net Loss | (66,289) | (53,509) | -19.3 % |
% of Net Revenues | -2.9 % | -2.5 % | 47.7bps |
Non-GAAP Adjusted Net Loss[5] | (34,857) | (36,533) | 4.8 % |
% of Net Revenues | -1.5 % | -1.7 % | -13.7bps |
Mr. Eric Long Chen, Chairman and Chief Executive Officer of ZKH, stated, "Despite ongoing macro headwinds and subdued market sentiment, we continued to grow our customer base and achieved consistent improvements in business quality during the second quarter. This reflects our resilience and commitment to operational excellence and disciplined execution, which are fundamental to our sustainable growth. A key milestone of this quarter was the operational launch of our Taicang facility in
Mr. Max Chun Chiu Lai, Chief Financial Officer of ZKH, added, "In the second quarter, we advanced in enhancing business quality and operational efficiency while navigating a modest year-over-year decline in overall GMV and revenue, primarily due to a high prior-year base that included low-margin, extended-credit businesses, which we have since strategically optimized. Importantly, our higher-margin private-label products continued to grow, with GMV outpacing overall business growth, highlighting a successful shift toward a more profitable and sustainable revenue mix. We also achieved year-over-year improvements in both our product sales model's gross margin and our marketplace model's take rate[6], validating the effectiveness of our revenue quality strategy. Furthermore, our net loss margin narrowed by 47.7 basis points year over year, a clear demonstration of our disciplined cost management and focused execution. Looking ahead, we are committed to achieving high-quality revenue growth through targeted long-term investments and prudent cost management to ensure both short-term stability and sustained value for our shareholders."
[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 proportion of GMV generated by the marketplace model was |
[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 loss before interest expenses, income tax expenses/(benefits) and depreciation and amortization expenses. |
[5] Non-GAAP adjusted net loss is defined as net loss excluding share-based compensation expenses. |
[6] Take rate of the marketplace model represents gross profit from the marketplace model divided by GMV from the marketplace model. |
Second Quarter 2025 Financial Results
Net Revenues. Net revenues were
in thousand RMB, except for percentage | Second Quarter | ||
2024 | 2025 | Change | |
Net Revenues | 2,249,996 | 2,166,774 | -3.7 % |
Net Product Revenues | 2,163,721 | 2,113,970 | -2.3 % |
From ZKH Platform | 1,893,447 | 1,846,490 | -2.5 % |
From GBB Platform | 270,274 | 267,480 | -1.0 % |
Net Service Revenues | 69,161 | 40,707 | -41.1 % |
Other Revenues | 17,114 | 12,097 | -29.3 % |
- Net Product Revenues. Net product revenues were
RMB2,114.0 million (US ), representing a decrease of$295.1 million 2.3% fromRMB2,163.7 million in the same period of 2024, primarily due to a decrease in revenues from the product sales model. - Net Service Revenues. Net service revenues were
RMB40.7 million (US ), a decrease of$5.7 million 41.1% fromRMB69.2 million in the same period of 2024, primarily due to prior year's high base, which included revenues from low-margin businesses with extended customer credit terms under the marketplace model that have since been strategically optimized. - Other Revenues. Other revenues were
RMB12.1 million (US ), a decrease of$1.7 million 29.3% fromRMB17.1 million in the same period of 2024, mainly due to lower revenues from warehousing and logistic services, as well as operating lease services for certain types of machinery and equipment.
Cost of Revenues. Cost of revenues was
Gross Profit and Gross Margin. Gross profit was
in thousand RMB, except for percentage and basis points | Second Quarter | ||
2024 | 2025 | Change | |
Gross Profit | 382,991 | 356,987 | -6.8 % |
% of Net Revenues | 17.0 % | 16.5 % | -54.6bps |
% of GMV | 13.9 % | 14.8 % | 84.6bps |
Under Product Sales (1P) | |||
ZKH Platform | 294,022 | 295,075 | 0.4 % |
% of Net Product Revenues from ZKH Platform | 15.5 % | 16.0 % | 45.2bps |
GBB Platform | 15,133 | 18,658 | 23.3 % |
% of Net Product Revenues from GBB Platform | 5.6 % | 7.0 % | 137.6bps |
Under Marketplace (3P) | 69,161 | 40,707 | -41.1 % |
% of Net Service Revenues | 100.0 % | 100.0 % | - |
% of GMV from the Marketplace Model (Take Rate) | 12.1 % | 14.2 % | 206.7bps |
Others | 4,675 | 2,547 | -45.5 % |
% of Other Revenues | 27.3 % | 21.1 % | -626.2bps |
Operating Expenses. Operating expenses were
- Fulfillment Expenses. Fulfillment expenses were
RMB90.8 million (US ), a decrease of$12.7 million 8.4% fromRMB99.1 million in the same period of 2024. The decrease was primarily attributable to lower employee benefit expenses and warehouse rental costs. Fulfillment expenses as a percentage of net revenues were4.2% , compared with4.4% in the same period of 2024. - Sales and Marketing Expenses. Sales and marketing expenses were
RMB149.3 million (US ), a decrease of$20.8 million 5.3% fromRMB157.7 million in the same period of 2024. The decrease was primarily attributable to lower employee benefit expenses and travel expenses, partially offset by higher marketing and promotion expenses. Sales and marketing expenses as a percentage of net revenues were6.9% , compared with7.0% in the same period of 2024. - Research and Development Expenses. Research and development expenses were
RMB41.5 million (US .8 million), an increase of$5 7.9% fromRMB38.4 million in the same period of 2024. The increase was primarily attributable to higher employee benefit expenses. Research and development expenses as a percentage of net revenues were1.9% , compared with1.7% in the same period of 2024. - General and Administrative Expenses. General and administrative expenses were
RMB147 .3 million (US .6 million), a decrease of$20 7.3% fromRMB159.0 million in the same period of 2024. The decrease was primarily attributable to lower share-based compensation expenses and credit loss allowances, partially offset by higher employee benefit expenses. General and administrative expenses as a percentage of net revenues were6.8% , compared with7.1% in the same period of 2024.
Loss from Operations. Loss from operations was
Non-GAAP EBITDA. Non-GAAP EBITDA was negative
Net Loss. Net loss was
Non-GAAP Adjusted Net Loss. Non-GAAP adjusted net loss was
Basic and Diluted Net Loss per ADS[7] and Non-GAAP Adjusted Basic and Diluted Net Loss per ADS[8]. Basic and diluted net loss per ADS were
[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 loss per ADS is a non-GAAP financial measure, which is calculated by dividing non-GAAP adjusted net loss attributable to the Company's ordinary shareholders by the weighted average number of ADSs. |
Balance Sheet and Cash Flow
As of June 30, 2025, the Company had cash and cash equivalents, restricted cash and short-term investments of
Net cash used in operating activities was
Share Repurchase Update
On June 13, 2024, the Company's Board of Directors authorized a share repurchase program, under which the Company may repurchase up to
On June 13, 2025, the Company's Board of Directors authorized a new share repurchase program, under which the Company may repurchase up to
Exchange Rate
This announcement contains translations of certain Renminbi ("RMB") amounts into
Conference Call Information
The Company's management will hold a conference call on Friday, August 22, 2025, at 8:00 A.M.
+1-888-317-6003 | |
International: | +1-412-317-6061 |
Mainland | 400-120-6115 |
800-963-976 | |
+852-5808-1995 | |
Access Code: | 6971877 |
The replay will be accessible through August 29, 2025 by dialing the following numbers:
United States: | +1-877-344-7529 |
International: | +1-412-317-0088 |
Replay Access Code: | 5489224 |
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, non-GAAP adjusted net loss 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 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 per ADS is calculated by dividing adjusted net loss attributable to the Company's ordinary shareholders by the weighted average number of ordinary shares outstanding 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:
In
ZKH Group Limited
IR Department
E-mail: IR@zkh.com
Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: zkh@thepiacentegroup.com
In
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: zkh@thepiacentegroup.com
ZKH GROUP LIMITED | ||||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | ||||||
As of | As of | |||||
2024 | 2025 | |||||
RMB | RMB | US$ | ||||
Assets | ||||||
Current assets: | ||||||
Cash and cash equivalents | 1,423,943 | 1,095,264 | 152,893 | |||
Restricted cash | 92,939 | 97,181 | 13,566 | |||
Short-term investments | 543,978 | 658,942 | 91,985 | |||
Accounts receivable (net of allowance | 3,090,323 | 2,924,338 | 408,222 | |||
Notes receivable | 234,213 | 168,197 | 23,479 | |||
Inventories | 625,390 | 746,103 | 104,152 | |||
Prepayments and other current assets | 179,387 | 169,227 | 23,623 | |||
Total current assets | 6,190,173 | 5,859,252 | 817,920 | |||
Non-current assets: | ||||||
Property and equipment, net | 183,572 | 194,821 | 27,196 | |||
Land use right | 10,808 | 10,695 | 1,493 | |||
Operating lease right-of-use assets, net | 179,945 | 151,252 | 21,114 | |||
Intangible assets, net | 15,931 | 13,038 | 1,820 | |||
Goodwill | 30,807 | 30,807 | 4,300 | |||
Total non-current assets | 421,063 | 400,613 | 55,923 | |||
Total assets | 6,611,236 | 6,259,865 | 873,843 | |||
Liabilities | ||||||
Current liabilities: | ||||||
Short-term borrowings | 311,000 | 329,790 | 46,037 | |||
Current portion of long-term borrowings | 997 | 2,305 | 322 | |||
Accounts and notes payable | 2,553,396 | 2,357,669 | 329,118 | |||
Operating lease liabilities | 81,379 | 57,187 | 7,983 | |||
Advance from customers | 27,433 | 27,475 | 3,835 | |||
Accrued expenses and other current | 365,333 | 310,691 | 43,371 | |||
Derevatives | - | 1,848 | 258 | |||
Total current liabilities | 3,339,538 | 3,086,965 | 430,924 | |||
Non-current liabilities: | ||||||
Long-term borrowings | 38,887 | 43,803 | 6,115 | |||
Non-current operating lease liabilities | 109,096 | 102,295 | 14,280 | |||
Other non-current liabilities | 25,224 | 32,456 | 4,529 | |||
Total non-current liabilities | 173,207 | 178,554 | 24,924 | |||
Total liabilities | 3,512,745 | 3,265,519 | 455,848 | |||
ZKH Group Limited shareholders' equity: | ||||||
Ordinary shares ( | 4 | 4 | 1 | |||
Additional paid-in capital | 8,305,304 | 8,347,125 | 1,165,214 | |||
Statutory reserves | 6,303 | 6,303 | 880 | |||
Accumulated other comprehensive | 4,764 | (2,820) | (394) | |||
Accumulated deficit | (5,177,126) | (5,297,358) | (739,483) | |||
Treasury stock | (40,758) | (58,908) | (8,223) | |||
Total ZKH Group Limited shareholders' | 3,098,491 | 2,994,346 | 417,995 | |||
Total liabilities and shareholders' deficit | 6,611,236 | 6,259,865 | 873,843 | |||
ZKH GROUP LIMITED | |||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS | |||||||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||||||
For the three months ended | For the six months ended | ||||||||||
June 30, 2024 | June 30, 2025 | June 30, 2024 | June 30, 2025 | ||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net revenues | |||||||||||
Net product revenues | 2,163,721 | 2,113,970 | 295,099 | 3,938,740 | 3,998,830 | 558,215 | |||||
Net service revenues | 69,161 | 40,707 | 5,682 | 135,815 | 78,601 | 10,972 | |||||
Other revenues | 17,114 | 12,097 | 1,689 | 35,850 | 24,715 | 3,450 | |||||
Total net revenues | 2,249,996 | 2,166,774 | 302,470 | 4,110,405 | 4,102,146 | 572,637 | |||||
Cost of revenues | (1,867,005) | (1,809,787) | (252,637) | (3,393,338) | (3,413,041) | (476,442) | |||||
Operating expenses | |||||||||||
Fulfillment | (99,097) | (90,811) | (12,677) | (196,445) | (184,118) | (25,702) | |||||
Sales and marketing | (157,689) | (149,330) | (20,846) | (321,802) | (286,165) | (39,947) | |||||
Research and development | (38,431) | (41,471) | (5,789) | (78,267) | (81,084) | (11,319) | |||||
General and administrative | (158,987) | (147,332) | (20,567) | (321,380) | (290,508) | (40,553) | |||||
Loss from operations | (71,213) | (71,957) | (10,046) | (200,827) | (152,770) | (21,326) | |||||
Interest and investment income | 14,446 | 12,587 | 1,757 | 32,500 | 25,866 | 3,611 | |||||
Interest expense | (5,522) | (3,037) | (424) | (11,217) | (5,387) | (752) | |||||
Others, net | (3,934) | 8,846 | 1,235 | 22,508 | 12,254 | 1,711 | |||||
Loss before income tax | (66,223) | (53,561) | (7,478) | (157,036) | (120,037) | (16,756) | |||||
Income tax (expenses)/benefits | (66) | 52 | 7 | (154) | (195) | (27) | |||||
Net loss | (66,289) | (53,509) | (7,471) | (157,190) | (120,232) | (16,783) | |||||
Less: net loss attributable to non- | - | - | - | - | - | - | |||||
Less: net loss attributable to redeemable | - | - | - | - | - | - | |||||
Net loss attributable to ZKH Group | (66,289) | (53,509) | (7,471) | (157,190) | (120,232) | (16,783) | |||||
Accretion on preferred shares to | - | - | - | - | - | - | |||||
Net loss attributable to ZKH Group | (66,289) | (53,509) | (7,471) | (157,190) | (120,232) | (16,783) | |||||
Net loss | (66,289) | (53,509) | (7,471) | (157,190) | (120,232) | (16,783) | |||||
Other comprehensive income: | |||||||||||
Foreign currency translation adjustments | (9,121) | (4,576) | (639) | (12,471) | (7,584) | (1,059) | |||||
Total comprehensive loss | (75,410) | (58,085) | (8,110) | (169,661) | (127,816) | (17,842) | |||||
Less: comprehensive loss attributable | - | - | - | - | - | - | |||||
Less: comprehensive loss attributable to | - | - | - | - | - | - | |||||
Comprehensive loss attributable | (75,410) | (58,085) | (8,110) | (169,661) | (127,816) | (17,842) | |||||
Accretion on Preferred Shares to | - | - | - | - | - | - | |||||
Total comprehensive loss | (75,410) | (58,085) | (8,110) | (169,661) | (127,816) | (17,842) | |||||
Net loss per ordinary share attributable | |||||||||||
Basic and diluted | (0.01) | (0.01) | (0.00) | (0.03) | (0.02) | (0.00) | |||||
Weighted average number of shares | |||||||||||
Basic and diluted | 5,747,591,752 | 5,678,582,721 | 5,678,582,721 | 5,745,856,349 | 5,683,922,789 | 5,683,922,789 | |||||
Net loss per ADS attributable to | |||||||||||
Basic and diluted | (0.40) | (0.33) | (0.05) | (0.96) | (0.74) | (0.10) | |||||
Weighted average number of ADS (35 | |||||||||||
Basic and diluted | 164,216,907 | 162,245,221 | 162,245,221 | 164,167,324 | 162,397,794 | 162,397,794 | |||||
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 | For the six months ended | ||||||||||
June 30, 2024 | June 30, 2025 | June 30, 2024 | June 30, 2025 | ||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net loss | (66,289) | (53,509) | (7,471) | (157,190) | (120,232) | (16,783) | |||||
Income tax expenses/(benefits) | 66 | (52) | (7) | 154 | 195 | 141 | |||||
Interest expenses | 5,522 | 3,037 | 424 | 11,217 | 5,387 | 752 | |||||
Depreciation and amortization expense | 13,633 | 11,861 | 1,656 | 28,703 | 24,028 | 3,354 | |||||
Non-GAAP EBITDA | (47,068) | (38,663) | (5,398) | (117,116) | (90,622) | (12,536) | |||||
For the three months ended | For the six months ended | ||||||||||
June 30, 2024 | June 30, 2025 | June 30, 2024 | June 30, 2025 | ||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net loss | (66,289) | (53,509) | (7,471) | (157,190) | (120,232) | (16,783) | |||||
Add: | |||||||||||
Share-based compensation expenses | 31,432 | 16,976 | 2,370 | 78,874 | 33,523 | 4,680 | |||||
Non-GAAP adjusted net loss | (34,857) | (36,533) | (5,100) | (78,316) | (86,709) | (12,103) | |||||
Non-GAAP adjusted net loss | |||||||||||
Basic and diluted | (0.01) | (0.01) | (0.00) | (0.01) | (0.02) | (0.00) | |||||
Weighted average number of ordinary | |||||||||||
Basic and diluted | 5,747,591,752 | 5,678,582,721 | 5,678,582,721 | 5,745,856,349 | 5,683,922,789 | 5,683,922,789 | |||||
Non-GAAP adjusted net loss | |||||||||||
Basic and diluted | (0.21) | (0.23) | (0.03) | (0.48) | (0.53) | (0.07) | |||||
Weighted average number of ADS (35 | |||||||||||
Basic and diluted | 164,216,907 | 162,245,221 | 162,245,221 | 164,167,324 | 162,397,794 | 162,397,794 | |||||
View original content:https://www.prnewswire.com/news-releases/zkh-group-limited-announces-second-quarter-2025-unaudited-financial-results-302536511.html
SOURCE ZKH Group Limited
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