{"id":965648,"date":"2026-05-21T06:05:13","date_gmt":"2026-05-21T10:05:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/zkh-group-limited-announces-first-quarter-2026-unaudited-financial-results\/"},"modified":"2026-05-21T06:05:13","modified_gmt":"2026-05-21T10:05:13","slug":"zkh-group-limited-announces-first-quarter-2026-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/zkh-group-limited-announces-first-quarter-2026-unaudited-financial-results\/","title":{"rendered":"ZKH Group Limited Announces First Quarter 2026 Unaudited Financial Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SHANGHAI<\/span>, May 21, 2026<\/span> \/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 first quarter ended March 31, 2026.<\/p>\n

\n First Quarter 2026 Operational and Financial Highlights\u00a0<\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n
\n First Quarter<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 2025<\/span>\n <\/p>\n<\/td>\n

\n

\n 2026<\/span>\n <\/p>\n<\/td>\n

\n

\n Change<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n (in thousand RMB, except for number of customers, percentage and basis
points(“bps”))<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n GMV[1]<\/sup><\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 2,171,997<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,452,783<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.9\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n
\n GMV by Platform<\/span>
\n <\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n ZKH Platform<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,966,210<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,183,957<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.1\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n GBB Platform<\/span>\n <\/p>\n<\/td>\n

\n

\n 205,787<\/span>\n <\/p>\n<\/td>\n

\n

\n 268,826<\/span>\n <\/p>\n<\/td>\n

\n

\n 30.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n
\n GMV by Business Model<\/span>
\n <\/i>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Product Sales (1P)<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,901,196<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,132,441<\/span>\n <\/p>\n<\/td>\n

\n

\n 12.2\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Marketplace (3P)[2]<\/sup><\/span>\n <\/p>\n<\/td>\n

\n

\n 270,800<\/span>\n <\/p>\n<\/td>\n

\n

\n 320,342<\/span>\n <\/p>\n<\/td>\n

\n

\n 18.3\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Number of Customers[3]<\/sup><\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 60,102<\/span>\n <\/p>\n<\/td>\n

\n

\n 66,742<\/span>\n <\/p>\n<\/td>\n

\n

\n 11.0\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Net Revenues<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1,935,372<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,113,819<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.2\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Gross Profit<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 332,118<\/span>\n <\/p>\n<\/td>\n

\n

\n 354,027<\/span>\n <\/p>\n<\/td>\n

\n

\n 6.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n
\n % of Net Revenues<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 17.2\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 16.7\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n -41.2bps<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Operating Loss<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (80,813)<\/span>\n <\/p>\n<\/td>\n

\n

\n (22,497)<\/span>\n <\/p>\n<\/td>\n

\n

\n -72.2\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n
\n % of Net Revenues<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n -4.2\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n -1.1\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 311.1bps<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Non-GAAP EBITDA[4]<\/sup><\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (51,959)<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,237<\/span>\n <\/p>\n<\/td>\n

\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n
\n % of Net Revenues<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n -2.7\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 0.2\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 288.5bps<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Net (Loss)\/Profit<\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (66,723)<\/span>\n <\/p>\n<\/td>\n

\n

\n (10,103)<\/span>\n <\/p>\n<\/td>\n

\n

\n -84.9\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n
\n % of Net Revenues<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n -3.4\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n -0.5\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 297.0bps<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n
\n Non-GAAP Adjusted Net (Loss)\/Profit[5]<\/sup><\/span>
\n <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (50,176)<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,690<\/span>\n <\/p>\n<\/td>\n

\n

\n –<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n
\n
\n % of Net Revenues<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n -2.6\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 0.1\u00a0%<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n
\n 267.3bps<\/span>
\n <\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

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 20% GMV growth and central state-owned enterprises (SOEs) returning to double-digit year-over-year GMV growth. More importantly, the quality of our growth continued to improve, driving significant earnings improvement on both a GAAP and non-GAAP basis. Underpinning this performance was our continued progress in strengthening our product ecosystem, fulfillment network, and AI-powered digitalization, which improved our customer penetration, execution capabilities, and platform scalability. Looking ahead, we believe the solid operational foundation we have built positions us well to further scale the business, improve profitability, and create long-term value for our shareholders.”<\/p>\n

Mr. Max\u00a0Chun 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 103.4% year over year, representing a significant turnaround and marking the first time we achieved non-GAAP profitability in a seasonally soft first quarter. These encouraging results further strengthened our confidence in achieving double-digit GMV growth and full-year profitability in 2026. In addition, operating cash flow continued to improve year over year, further reinforcing our financial resilience.”<\/p>\n

\n\n\n\n\n\n\n
\n

\n [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.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n [2] The marketplace model accounted for 13.1% of GMV in the first quarter of 2026, compared with 12.5% in the corresponding periods of 2025.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n [3] Customers are customers that transacted with the Company during the reporting period, mainly comprised of enterprise customers in various industries.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n [4] Non-GAAP EBITDA is defined as net profit\/(loss) before interest expenses, income tax expenses\/(benefits) and depreciation and amortization expenses.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n [5] Non-GAAP adjusted net (loss)\/profit is defined as net (loss)\/profit excluding share-based compensation expenses.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n First Quarter 2026 Business Highlights<\/b>\n <\/p>\n