ZKH Group Limited Announces Second Quarter 2026 Unaudited Financial Results
Rhea-AI Summary
ZKH Group Limited (NYSE: ZKH) reported strong second quarter 2026 results, with GMV rising 18.9% year-over-year to RMB2.88 billion and net revenues up 12.8% to RMB2.44 billion. Gross profit increased 20.3% to RMB429.6 million, lifting gross margin to 17.6% from 16.5%.
ZKH achieved its first operating profit, generating income from operations of RMB4.0 million versus a loss a year earlier. Net profit reached RMB26.7 million, and non-GAAP adjusted net profit was RMB38.5 million, both reversing prior-year losses. Non-GAAP EBITDA improved to RMB41.9 million.
Marketplace GMV grew 50.7%, private-label GMV rose over 25% and accounted for about 10% of GMV, while international GMV increased tenfold in the first half of 2026. The company continued its US$50 million share repurchase program, buying approximately 2.49 million ADSs for US$7.67 million.
Positive
- GMV +18.9% YoY to RMB2,877.5 million in Q2 2026
- Net revenues +12.8% YoY to RMB2,443.8 million in Q2 2026
- Gross profit +20.3% YoY to RMB429.6 million; margin 17.6%
- Operating income RMB4.0 million vs. RMB72.0 million loss a year ago
- Net profit RMB26.7 million and non-GAAP adjusted net profit RMB38.5 million, both reversing losses
- Marketplace GMV +50.7% YoY; private-label GMV >25% YoY and ~10% of total GMV
- Operating expenses -0.8% YoY and down to 17.4% of net revenues
- International GMV up tenfold year-over-year in first half 2026
- Share repurchases of ~2.49 million ADSs totaling about US$7.67 million
Negative
- Number of customers -1.7% YoY to 73,547 in Q2 2026
- GBB platform GMV -12.1% YoY and net product revenues -7.3% YoY
- Marketplace take rate -241.3 bps YoY to 11.8% of GMV
- Cash and equivalents + short-term investments down to RMB1.67 billion from RMB1.92 billion at December 31, 2025
- Net cash used in operating activities increased to RMB122.4 million from RMB110.7 million year-over-year
News Explained
As of June 30, ZKH reported RMB1.67 billion in cash-related holdings, while its repurchase program extends through June 13, 2027.
For the quarter ended
The authorization permits up to
The company also reports
Market Reaction – ZKH
Following this news, ZKH has gained 6.59%, reflecting a notable positive market reaction. Argus tracked a peak move of +17.1% during the session. Our momentum scanner has triggered 29 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $3.09. Trading volume is exceptionally heavy at 5.3x the average, suggesting very strong buying interest.
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Second Quarter 2026 Operational and Financial Highlights
Second Quarter | ||||
2025 | 2026 | Change | ||
(in thousand RMB, except for number of customers, percentage and basis points("bps")) | ||||
GMV[1] | 2,420,233 | 2,877,545 | 18.9 % | |
GMV by Platform | ||||
ZKH Platform | 2,144,362 | 2,635,045 | 22.9 % | |
GBB Platform | 275,871 | 242,500 | -12.1 % | |
GMV by Business Model | ||||
Product Sales (1P) | 2,133,895 | 2,446,015 | 14.6 % | |
Marketplace (3P)[2] | 286,338 | 431,529 | 50.7 % | |
Number of Customers[3] | 74,854 | 73,547 | -1.7 % | |
Net Revenues | 2,166,774 | 2,443,750 | 12.8 % | |
Gross Profit | 356,987 | 429,574 | 20.3 % | |
% of Net Revenues | 16.5 % | 17.6 % | 110.3bps | |
Operating (Loss)/Profit | (71,957) | 4,001 | - | |
% of Net Revenues | -3.3 % | 0.2 % | 348.5bps | |
Non-GAAP EBITDA[4] | (38,663) | 41,857 | - | |
% of Net Revenues | -1.8 % | 1.7 % | 349.7bps | |
Net (Loss)/Profit | (53,509) | 26,687 | - | |
% of Net Revenues | -2.5 % | 1.1 % | 356.2bps | |
Non-GAAP Adjusted Net (Loss)/Profit [5] | (36,533) | 38,461 | - | |
% of Net Revenues | -1.7 % | 1.6 % | 326.0bps | |
Mr. Eric Long Chen, Chairman and Chief Executive Officer of ZKH, stated, "Building on a strong start to the year, our business gained further momentum in the second quarter, with GMV and revenue posting their fastest year-over-year growth in the past several quarters. This performance was broad-based across the industries we serve. Core verticals such as communications and electronics, fine chemicals and pharmaceuticals, and utilities continued to outpace overall GMV growth. At the customer level, GMV from SMEs on the ZKH platform increased by approximately
Mr. Jerry Qian Wang, Chief Financial Officer of ZKH, added, "The second quarter marked an important milestone in our earnings trajectory, as we achieved operating profitability for the first time. This achievement was underpinned by our continued scale expansion and stronger operating leverage. GMV increased by
[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. |
Second Quarter 2026 Business Highlights
- Business Momentum. The Company accelerated its growth momentum in the second quarter, with total GMV increasing
18.9% year-over-year. This performance was driven by deeper penetration across both SME and key account segments. GMV from SME customers increased approximately30% year-over-year, while GMV from industry KA and central SOE customers maintained double-digit growth. The sustained strength of the SME business reflected the Company's improving product and service capabilities, and contributed to a higher-quality, more resilient earnings profile. - Product Capabilities. The Company continued to advance its capabilities in professional MRO categories, including chemical reagents, industrial spare parts, and machining-related products. It also scaled its higher-margin private-label products, adding more than 700 SKUs during the quarter. Private-label GMV increased by more than
25% year-over-year and accounted for approximately10% of total GMV. The growing contribution from private-label offerings supported both overall GMV growth and gross margin improvement. - Fulfillment Network. The Company further enhanced its hazardous materials supply capabilities with the completion of a dedicated warehouse in Cangzhou,
Hebei Province . As of quarter-end, its network comprised more than 30 distribution centers and 109 warehouses, supported by over 200 self-operated delivery vehicles and more than 6,000 EVM smart vending machines at customer production sites. Fulfillment efficiency also improved, with fulfillment expenses as a percentage of revenue declining by 50 basis points year-over-year. - AI Capabilities.
- Drove greater customer value through AI innovation and broader adoption.
- Launched "Domino," an industrial supplies data engine powered by the industry's first billion-parameter industrial supplies knowledge graph. Featuring automated data labeling, self-learning, and end-to-end traceability, Domino delivers high-quality data to support customers' data governance, model training, and AI applications.
- Expanded deployments of the Company's comprehensive AI solutions across manufacturing, chemicals, ports, and automotive. This helps customers reduce inventory costs, accelerate product selection and materials processing, and improve operational efficiency. In particular, our AI Materials Manager grew its total users by more than
200% year-over-year to over 8,000 and had processed more than 24 million rows of material data to date.
- Generated measurable efficiency gains through Company-wide deployment.
- Established a multi-layered AI application framework spanning robotic process automation (RPA), AI agents, and advanced AI tools, with AI supporting more than
70% of the Company's research and development coding activities. - Generated productivity gains equivalent to an estimated 12,759 hours through Company-wide AI adoption during the quarter.
- Established a multi-layered AI application framework spanning robotic process automation (RPA), AI agents, and advanced AI tools, with AI supporting more than
- Drove greater customer value through AI innovation and broader adoption.
- International Expansion. International GMV increased tenfold year-over-year in the first half of 2026, supported by the Company's continued efforts to help Chinese manufacturers expand overseas and further localize its
U.S . operations. During the quarter,U.S . online sales accelerated across multiple channels, while offline operations strengthened collaboration with local manufacturers and enhanced local sourcing and fulfillment capabilities.
Second Quarter 2026 Financial Results
Net Revenues. Net revenues were
Second Quarter | ||||||
2025 | 2026 | Change | ||||
(in thousand RMB, except for percentage) | ||||||
Net Revenues | 2,166,774 | 2,443,750 | 12.8 % | |||
Net Product Revenues | 2,113,970 | 2,377,498 | 12.5 % | |||
From ZKH Platform | 1,846,490 | 2,129,626 | 15.3 % | |||
From GBB Platform | 267,480 | 247,872 | -7.3 % | |||
Net Service Revenues | 40,707 | 50,935 | 25.1 % | |||
Other Revenues | 12,097 | 15,317 | 26.6 % | |||
Cost of Revenues. Cost of revenues was
Gross Profit and Gross Margin. Gross profit was
Second Quarter | ||||||
2025 | 2026 | Change | ||||
(in thousand RMB, except for percentage and basis points ("bps")) | ||||||
Gross Profit | 356,987 | 429,574 | 20.3 % | |||
% of Net Revenues | 16.5 % | 17.6 % | 110.3bps | |||
% of GMV | 14.8 % | 14.9 % | 17.8bps | |||
Under Product Sales (1P) | ||||||
ZKH Platform | 295,075 | 355,844 | 20.6 % | |||
% of Net Product Revenues from ZKH Platform | 16.0 % | 16.7 % | 72.9bps | |||
GBB Platform | 18,658 | 19,452 | 4.3 % | |||
% of Net Product Revenues from GBB Platform | 7.0 % | 7.8 % | 87.2bps | |||
Under Marketplace (3P) | 40,707 | 50,935 | 25.1 % | |||
% of Net Service Revenues | 100.0 % | 100.0 % | - | |||
% of GMV from the Marketplace Model (Take Rate[6]) | 14.2 % | 11.8 % | -241.3bps | |||
Others | 2,547 | 3,343 | 31.3 % | |||
% of Other Revenues | 21.1 % | 21.8 % | 77.1bps | |||
Operating Expenses. Operating expenses were
- Fulfillment Expenses. Fulfillment expenses were
RMB89.6 million (US ), down$13.2 million 1.3% fromRMB90.8 million in the same period of 2025, primarily due to lower rental and property management fees, partially offset by higher distribution expenses. Fulfillment expenses were3.7% of net revenues, compared with4.2% in the same period of 2025. - Sales and Marketing Expenses. Sales and marketing expenses were
RMB150.8 million (US ), up$22.2 million 1.0% fromRMB149.3 million in the same period of 2025, primarily due to higher marketing and promotion expenses and service fees, partially offset by lower other and traveling expenses. Sales and marketing expenses were6.2% of net revenues, compared with6.9% in the same period of 2025. - Research and Development Expenses. Research and development expenses were
RMB35.2 million (US ), down$5.2 million 15.2% fromRMB41.5 million in the same period of 2025, primarily due to lower employee benefits expenses, partially offset by higher service fees. Research and development expenses were1.4% of net revenues, compared with1.9% in the same period of 2025. - General and Administrative Expenses. General and administrative expenses were
RMB150.0 million (US ), up$22.1 million 1.8% fromRMB147.3 million in the same period of 2025, primarily due to higher service fees and credit losses, partially offset by lower employee benefits expenses and share-based payments. General and administrative expenses were6.1% of net revenues, compared with6.8% in the same period of 2025.
Income/(Loss) from Operations. Income from operations was
Non-GAAP EBITDA. Non-GAAP EBITDA was
Net Profit/(Loss). Net profit 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 profit per ADS was
Balance Sheet and Cash Flow
As of June 30, 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 Friday, August 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: | 4251895 |
The replay will be accessible through August 28, 2026 by dialing the following numbers:
+1-855-669-9658 | |
International: | +1-412-317-0088 |
Replay Access Code: | 1176528 |
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 China, underpinned by robust supply chain capabilities and dedicated to serving customers globally through a product-led, agentic AI-driven approach. Through its primary online platforms, the ZKH platform, the GBB platform and the Northsky platform, along with innovative technology and extensive industry expertise, the Company provides bespoke MRO procurement solutions to a diverse and loyal customer base. These solutions encompass hyper-personalized product curation from a comprehensive selection of quality products at competitive prices. Additionally, the Company ensures timely and reliable product delivery through professional fulfillment services. By focusing on reducing procurement costs and addressing management efficiency challenges, ZKH is transforming the opaque MRO procurement process and empowering all stakeholders across the value chain.
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 United States of America. Investors are encouraged to review the historical non-GAAP financial measures in reconciliation to their most directly comparable GAAP financial measures.
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 U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expects," "anticipates," "aim," "estimates," "intends," "plans," "believes," "is/are likely to," "potential," "continue," and similar statements. Among other things, the quotations from management in this press release and ZKH's strategic and operational plans contain forward-looking statements. ZKH may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press release and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ZKH's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: ZKH's mission, goals and strategies; ZKH's future business development, financial condition and results of operations; the expected changes in its revenues, expenses or expenditures; the expected growth of the MRO procurement service industry in China and globally; changes in customer or product mix; ZKH's expectations regarding the prospects of its business model and the demand for and market acceptance of its products and services; ZKH's expectations regarding its relationships with customers, suppliers, and service providers on its platform; competition in the Company's industry; government policies and regulations relating to ZKH's industry; general economic and business conditions in China and globally; the outcome of any current and future legal or administrative proceedings; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in ZKH's filings with the SEC. All information provided herein is as of the date of this announcement, and ZKH undertakes no obligation to update any forward-looking statement, except as required under applicable law.
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 June 30, | |||||
2025 | 2026 | |||||
RMB | RMB | US$ | ||||
Assets | ||||||
Current assets: | ||||||
Cash and cash equivalents | 1,030,573 | 896,485 | 132,126 | |||
Restricted cash | 61,871 | 39,844 | 5,872 | |||
Short-term investments | 825,289 | 738,136 | 108,788 | |||
Derivatives Asset | 2,038 | 300 | ||||
Accounts receivable (net of allowance for credit losses of 2025 and June 30, 2026, respectively) | 3,257,162 | 3,447,300 | 508,069 | |||
Notes receivable | 113,291 | 149,602 | 22,049 | |||
Inventories | 669,825 | 646,931 | 95,346 | |||
Prepayments and other current assets | 180,188 | 210,373 | 31,005 | |||
Total current assets | 6,138,199 | 6,128,671 | 903,254 | |||
Non-current assets: | ||||||
Property and equipment, net | 186,185 | 179,867 | 26,509 | |||
Land use right | 10,582 | 10,470 | 1,543 | |||
Operating lease right-of-use assets, net | 142,205 | 124,433 | 18,339 | |||
Intangible assets, net | 21,871 | 30,876 | 4,551 | |||
Goodwill | 30,807 | 30,807 | 4,541 | |||
Total non-current assets | 391,650 | 376,453 | 55,483 | |||
Total assets | 6,529,849 | 6,505,124 | 958,737 | |||
Liabilities | ||||||
Current liabilities: | ||||||
Short-term borrowings | 240,000 | 235,000 | 34,635 | |||
Current portion of long-term borrowings | 2,305 | 2,305 | 340 | |||
Accounts and notes payable | 2,718,941 | 2,796,496 | 412,153 | |||
Operating lease liabilities | 50,202 | 44,897 | 6,617 | |||
Advance from customers | 27,152 | 34,597 | 5,099 | |||
Accrued expenses and other current liabilities | 378,566 | 345,179 | 50,872 | |||
Derivatives | 8,624 | - | - | |||
Total current liabilities | 3,425,790 | 3,458,474 | 509,716 | |||
Non-current liabilities: | ||||||
Long-term borrowings | 42,651 | 41,498 | 6,116 | |||
Non-current operating lease liabilities | 91,894 | 77,103 | 11,364 | |||
Other non-current liabilities | 28,181 | 31,858 | 4,695 | |||
Total non-current liabilities | 162,726 | 150,459 | 22,175 | |||
Total liabilities | 3,588,516 | 3,608,933 | 531,891 | |||
As of December 31, | As of June 30, | |||||
2025 | 2026 | |||||
RMB | RMB | US$ | ||||
ZKH Group Limited shareholders' equity: | ||||||
Ordinary shares ( 5,563,528,436 and 5,521,954,758 shares outstanding as of December 31, 2025 and | 4 | 4 | 1 | |||
Additional paid-in capital | 8,370,941 | 8,397,997 | 1,237,711 | |||
Statutory reserves | 6,566 | 6,566 | 968 | |||
Accumulated other comprehensive loss | (37,288) | (96,648) | (14,244) | |||
Accumulated deficit | (5,317,131) | (5,300,547) | (781,204) | |||
Treasury stock | (81,759) | (111,181) | (16,386) | |||
Total ZKH Group Limited shareholders' equity | 2,941,333 | 2,896,191 | 426,846 | |||
Total liabilities and shareholders' equity | 6,529,849 | 6,505,124 | 958,737 | |||
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 | For the six months ended | ||||||||||
June 30, 2025 | June 30, 2026 | June 30, 2025 | June 30, 2026 | ||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net revenues | |||||||||||
Net product revenues | 2,113,970 | 2,377,498 | 350,400 | 3,998,830 | 4,439,119 | 654,245 | |||||
Net service revenues | 40,707 | 50,935 | 7,507 | 78,601 | 92,186 | 13,587 | |||||
Other revenues | 12,097 | 15,317 | 2,257 | 24,715 | 26,264 | 3,871 | |||||
Total net revenues | 2,166,774 | 2,443,750 | 360,164 | 4,102,146 | 4,557,569 | 671,703 | |||||
Cost of revenues | (1,809,787) | (2,014,176) | (296,853) | (3,413,041) | (3,773,968) | (556,214) | |||||
Operating expenses | |||||||||||
Fulfillment | (90,811) | (89,632) | (13,210) | (184,118) | (167,240) | (24,648) | |||||
Sales and marketing | (149,330) | (150,822) | (22,228) | (286,165) | (288,462) | (42,514) | |||||
Research and development | (41,471) | (35,164) | (5,183) | (81,084) | (64,506) | (9,507) | |||||
General and administrative | (147,332) | (149,955) | (22,101) | (290,508) | (281,889) | (41,545) | |||||
(Loss)/profit from operations | (71,957) | 4,001 | 589 | (152,770) | (18,496) | (2,725) | |||||
Interest and investment income | 12,587 | 8,664 | 1,277 | 25,866 | 17,071 | 2,516 | |||||
Interest expense | (3,037) | (3,087) | (455) | (5,387) | (5,350) | (788) | |||||
Others, net | 8,846 | 18,074 | 2,664 | 12,254 | 24,839 | 3,661 | |||||
(Loss)/profit before income tax | (53,561) | 27,652 | 4,075 | (120,037) | 18,064 | 2,664 | |||||
Income tax benefits/(expenses) | 52 | (965) | (142) | (195) | (1,480) | (218) | |||||
Net (loss)/profit | (53,509) | 26,687 | 3,933 | (120,232) | 16,584 | 2,446 | |||||
Less: net income attributable to non- controlling interests | - | - | - | - | - | - | |||||
Less: net loss attributable to redeemable non- controlling interests | - | - | - | - | - | - | |||||
Net (loss)/profit attributable to ZKH Group Limited | (53,509) | 26,687 | 3,933 | (120,232) | 16,584 | 2,446 | |||||
Accretion on preferred shares to redemption value | - | - | - | - | - | - | |||||
Net (loss)/profit attributable to ZKH Group Limited's ordinary shareholders | (53,509) | 26,687 | 3,933 | (120,232) | 16,584 | 2,446 | |||||
For the three months ended | For the six months ended | ||||||||||
June 30, 2025 | June 30, 2026 | June 30, 2025 | June 30, 2026 | ||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net (loss)/profit | (53,509) | 26,687 | 3,933 | (120,232) | 16,584 | 2,446 | |||||
Other comprehensive income/(loss): | |||||||||||
Foreign currency translation adjustments | (4,576) | (29,222) | (4,307) | (7,584) | (59,360) | (8,749) | |||||
Total comprehensive loss | (58,085) | (2,535) | (374) | (127,816) | (42,776) | (6,303) | |||||
Less: comprehensive income attributable to non-controlling interests | - | - | - | - | - | - | |||||
Less: comprehensive loss attributable to redeemable non- controlling interests | - | - | - | - | - | - | |||||
Comprehensive loss attributable to ZKH Group Limited | (58,085) | (2,535) | (374) | (127,816) | (42,776) | (6,303) | |||||
Accretion on Preferred Shares to redemption value | - | - | - | - | - | - | |||||
Total comprehensive loss attributable to ZKH Group Limited's ordinary shareholders | (58,085) | (2,535) | (374) | (127,816) | (42,776) | (6,303) | |||||
Net (loss)/profit per ordinary share attributable to ordinary shareholders | |||||||||||
Basic | (0.01) | 0.00 | 0.00 | (0.02) | 0.00 | 0.00 | |||||
Diluted | (0.01) | 0.00 | 0.00 | (0.02) | 0.00 | 0.00 | |||||
Weighted average number of shares | |||||||||||
Basic | 5,678,582,721 | 5,625,935,232 | 5,625,935,232 | 5,683,922,789 | 5,636,198,015 | 5,636,198,015 | |||||
Diluted | 5,678,582,721 | 5,627,918,674 | 5,627,918,674 | 5,683,922,789 | 5,638,181,457 | 5,638,181,457 | |||||
Net (loss)/profit per ADS attributable to ordinary shareholders | |||||||||||
Basic | (0.33) | 0.17 | 0.02 | (0.74) | 0.10 | 0.02 | |||||
Diluted | (0.33) | 0.17 | 0.02 | (0.74) | 0.10 | 0.02 | |||||
Weighted average number of ADS (35 Class A ordinary shares equal to 1 ADS) | |||||||||||
Basic | 162,245,221 | 160,741,007 | 160,741,007 | 162,397,794 | 161,034,229 | 161,034,229 | |||||
Diluted | 162,245,221 | 160,797,676 | 160,797,676 | 162,397,794 | 161,090,899 | 161,090,899 | |||||
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, 2025 | June 30, 2026 | June 30, 2025 | June 30, 2026 | ||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net (loss)/profit | (53,509) | 26,687 | 3,933 | (120,232) | 16,584 | 2,446 | |||||
Income tax (benefits)/expenses | (52) | 965 | 142 | 195 | 1,480 | 218 | |||||
Interest expenses | 3,037 | 3,087 | 455 | 5,387 | 5,350 | 788 | |||||
Depreciation and amortization expense | 11,861 | 11,118 | 1,639 | 24,028 | 22,680 | 3,343 | |||||
Non-GAAP EBITDA | (38,663) | 41,857 | 6,169 | (90,622) | 46,094 | 6,795 | |||||
For the three months ended | For the six months ended | ||||||||||
June 30, 2025 | June 30, 2026 | June 30, 2025 | June 30, 2026 | ||||||||
RMB | RMB | US$ | RMB | RMB | US$ | ||||||
Net (loss)/profit | (53,509) | 26,687 | 3,933 | (120,232) | 16,584 | 2,446 | |||||
Add: | |||||||||||
Share-based compensation expenses | 16,976 | 11,774 | 1,735 | 33,523 | 23,567 | 3,473 | |||||
Non-GAAP adjusted net (loss)/profit | (36,533) | 38,461 | 5,668 | (86,709) | 40,151 | 5,919 | |||||
Non-GAAP adjusted net (loss)/profit attributable to ordinary shareholders per share | |||||||||||
Basic | (0.01) | 0.01 | 0.00 | (0.02) | 0.01 | 0.00 | |||||
Diluted | (0.01) | 0.01 | 0.00 | (0.02) | 0.01 | 0.00 | |||||
Weighted average number of ordinary shares | |||||||||||
Basic | 5,678,582,721 | 5,625,935,232 | 5,625,935,232 | 5,683,922,789 | 5,636,198,015 | 5,636,198,015 | |||||
Diluted | 5,678,582,721 | 5,627,918,674 | 5,627,918,674 | 5,683,922,789 | 5,638,181,457 | 5,638,181,457 | |||||
Non-GAAP adjusted net (loss)/profit attributable to ordinary shareholders per ADS | |||||||||||
Basic | (0.23) | 0.24 | 0.04 | (0.53) | 0.25 | 0.04 | |||||
Diluted | (0.23) | 0.24 | 0.04 | (0.53) | 0.25 | 0.04 | |||||
Weighted average number of ADS (35 Class A ordinary shares equal to 1 ADS) | |||||||||||
Basic | 162,245,221 | 160,741,007 | 160,741,007 | 162,397,794 | 161,034,229 | 161,034,229 | |||||
Diluted | 162,245,221 | 160,797,676 | 160,797,676 | 162,397,794 | 161,090,899 | 161,090,899 | |||||
View original content:https://www.prnewswire.com/news-releases/zkh-group-limited-announces-second-quarter-2026-unaudited-financial-results-302857193.html
SOURCE ZKH Group Limited