ZKH Group

ZKH

Market cap $474M

ZKH Group Limited (ZKH) Q4 2025 Earnings Call Transcript

SHANGHAI, March 19, 2026 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair, and operations ("MRO") procurement service platform in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025. Fourth Quarter and Fiscal Year 2025 Operational and Financial Highlights Fourth Quarter Fiscal Year 2024 2025 Change 2024 2025 Change (in thousand RMB, except for number of customers, percentage and basis points("bps")) GMV [1] 2,690,311 2,918,297 8.5 % 10,479,461 10,133,428 -3.3 % GMV by Platform ZKH Platform 2,435,037 2,638,242 8.3 % 9,475,550 9,103,399 -3.9 % GBB Platform 255,274 280,055 9.7 % 1,003,911 1,030,029 2.6 % GMV by Business Model Product Sales (1P) 2,324,005 2,499,633 7.6 % 8,530,328 8,828,963 3.5 % Marketplace (3P) [2] 366,306 418,664 14.3 % 1,949,133 1,304,465 -33.1 % Number of Customers [3] 46,192 73,803 59.8 % 83,958 155,829 85.6 % Net Revenues 2,370,223 2,557,238 7.9 % 8,761,318 8,987,738 2.6 % Gross Profit 404,998 396,380 -2.1 % 1,510,471 1,475,662 -2.3 % % of Net Revenues 17.1 % 15.5 % -158.7bps 17.2 % 16.4 % -82.2bps Operating Loss (32,589) (28,229) -13.4 % (338,770) (213,337) -37.0 % % of Net Revenues -1.4 % -1.1 % 27.1bps -3.9 % -2.4 % 149.3bps Non-GAAP EBITDA [4] (13,330) 19,725 - (193,258) (79,347) -58.9 % % of Net Revenues -0.6 % 0.8 % 133.4bps -2.2 % -0.9 % 132.3bps Net (Loss)/Profit (29,102) 4,797 - (268,043) (139,742) -47.9 % % of Net Revenues -1.2 % 0.2 % 141.5bps -3.1 % -1.6 % 150.5bps Non-GAAP Adjusted Net (Loss)/Profit  [5] (15,033) 14,860 - (159,527) (85,923) -46.1 % % of Net Revenues -0.6 % 0.6 % 121.5bps -1.8 % -1.0 % 86.5bps Mr.

SHANGHAI, March 5, 2026 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced that it will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, on Thursday, March 19, 2026, before the open of the U.S. markets. The Company's management will hold an earnings conference call on Thursday, March 19, 2026 at 8:00 A.M.

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ZKH Group Limited ( ZKH ) Q3 2025 Earnings Call November 20, 2025 7:00 AM EST Company Participants Jin Li - Head of Investor Relations Long Chen - Founder, CEO & Chairman of the Board of Directors Chun Chiu Lai - Chief Financial Officer Conference Call Participants Xiaodan Zhang - China International Capital Corporation Limited, Research Division Leo Chiang - Deutsche Bank AG, Research Division Ruchen Tang Presentation Operator Ladies and gentlemen, good day, and welcome to ZKH Group Limited Third Quarter 2025 Earnings Conference Call. Today's conference is being recorded.

SHANGHAI , Nov. 20, 2025 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Operational and Financial Highlights in thousand RMB, except for number of customers, percentage and basis points ("bps") Third Quarter 2024 2025 Change GMV[1] 2,685,996 2,622,901 -2.3 % GMV by Platform     ZKH Platform 2,422,649 2,354,585 -2.8 %     GBB Platform 263,347 268,316 1.9 % GMV by Business Model     Product Sales (1P) 2,228,234 2,294,239 3.0 %     Marketplace (3P)[2] 457,762 328,662 -28.2 % Number of Customers[3] 47,800 70,800 48.0 % Net Revenues 2,280,690 2,328,354 2.1 % Gross Profit 388,406 390,177 0.5 %     % of Net Revenues 17.0 % 16.8 % -27.3bps Operating Loss (105,355) (32,338) -69.3 %     % of Net Revenues -4.6 % -1.4 % 323.1bps Non-GAAP EBITDA[4] (62,812) (8,450) -86.5 %     % of Net Revenues -2.8 % -0.4 % 239.1bps Net Loss (81,751) (24,307) -70.3 %     % of Net Revenues -3.6 % -1.0 % 254.1bps Non-GAAP Adjusted Net Loss[5] (66,178) (14,074) -78.7 %     % of Net Revenues -2.9 % -0.6 % 229.7bps Mr.

SHANGHAI , Nov. 10, 2025 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced that it will release its unaudited financial results for the third quarter of 2025, on Thursday, November 20 , 2025, before the open of the U.S. markets. The Company's management will hold an earnings conference call on Thursday, November 20 , 2025 at 7:00 A.M.

SHANGHAI , Aug. 22, 2025 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2025. Second Quarter 2025 Operational and Financial Highlights  in thousand RMB, except for number of customers,percentage and basis points ("bps") 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.

SHANGHAI , Aug. 8, 2025 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced that it will release its unaudited financial results for the second quarter of 2025, on Friday, August 22, 2025, before the open of the U.S. markets. The Company's management will hold an earnings conference call on Friday, August 22, 2025 at 8:00 A.M.

SHANGHAI , June 13, 2025 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced that its board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$50 million worth of its shares (including American Depositary Shares) over the next 12 months, ending on June 13, 2026. The share repurchases may be effected from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions, and will be implemented in accordance with applicable rules and regulations.