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NYSE · RETAIL-BUILDING MATERIALS, HARDWARE, GARDEN SUPPLY · MID CAP

ZKH Group Ltd. ZKH

5 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 9.0B
▲ 2.6% YoY
CNY -139.7M
CNY -44.3M
▼ 129.5% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company is a China-based B2B e-commerce platform that provides one-stop MRO procurement solutions with an international footprint. It directly served over 155,000 customers on its ZKH platform and GBB platform in 2025. Its nationwide fulfillment network consisted of 30 distribution centers, 107 transit warehouses and over 5,600 EVM smart vending machines as of December 31, 2025. By revenue model, it derives revenue from a product sales model and a marketplace model. Under its product sales model, it purchases products from suppliers and sells them to its customers on a principal basis. Under its marketplace model, suppliers sell products to customers over its platform and pay it commissions on sales.

Written from the business description in ZKH Group Ltd's annual report to the U.S. Securities and Exchange Commission, filed 24 April 2026. Every sentence was checked against that document before publication.

Growth

CNY 9.0B
Revenue, FY2025 · full 5-year series below
Revenue CNY B Net income CNY B
FY2025 · Revenue 9.0 · Net income -0.1
4.0B8.0B-0.5B-1.0B
202120242025
Compound annual growth
+2.6%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−2 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -2.4% · Net -1.6%
-5%-10%
202120232025
ROE
FY2025 · ROE -4.6%
-5%
202120232025
Three returns, three denominators.

Each CNY of equity lost 5 cents this year.

Cash & shareholders

CNY 38.5M
returned in FY2025 · dividends + net buybacks
Free cash flow CNY B
FY2025 · FCF -0.0
-1B-2B
202120232025
Net buybacks CNY M Dividends CNY M
FY2025 · Dividends · · Net buybacks 38.5
15M30M
20242025

CNY 38.5M in buybacks went back to shareholders in a year without profit.

Total assetsCNY 6.5B
EquityCNY 2.9B
CashCNY 1.0B
Gross debtCNY 45.0M
Net debtCNY -985.6M
Current ratio1.79×

The company holds more cash than debt.

The 5-year record

5 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
ZKH, 5-year financial record
Metric 20252024202320222021
Revenue CNY B9.08.88.78.37.7
Operating income CNY B−0.2−0.3−0.4−0.7−1.1
EBITDA CNY B−0.2−0.3−0.3−0.6−1.1
Income tax CNY B0.00.00.0−0.00.0
Net income CNY B−0.1−0.3−0.3−0.7−1.1
Free cash flow CNY B−0.00.1−0.6−0.5−1.5
EPS, diluted CNY −0.02◌−0.63◌◌
Dividend / sh CNY 0.000.00◌◌◌
Payout % — not applicable: no dividend—————
ROE %−4.6−8.5———
Shares out B5.565.605.621.22◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 16 reconciliationsAUDITED

Reconciled in 5 of the 5 fiscal years we could check. 30 checks were skipped: the balance sheet is not tagged before 2022. 14 checks were skipped: EPS is not tagged before 2021. 14 checks were skipped: revenue is not tagged before 2021.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityRetail-Building Materials, Hardware, Garden Supply
Listed onNYSE
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2020

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