ZKH Group Limited Announces Second Quarter 2026 Unaudited Financial Results

SHANGHAI , Aug. 21, 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 second quarter ended June 30, 2026.

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 30% year-over-year, while industry key accounts (KAs) and central state-owned enterprises (SOEs) sustained healthy double-digit growth. Meanwhile, AI is becoming increasingly embedded in how we serve customers and operate our business, helping us deepen customer engagement, unlock additional revenue opportunities, and drive greater efficiency. Together, these results reinforce our confidence in our strategy and underscore the strength of our execution. Looking ahead, we expect growth to accelerate further in the second half of the year. As we build on this momentum, we will continue to execute with focus and discipline to deliver sustainable, high-quality growth."

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 18.9% year-over-year, reflecting ongoing share gains in China's fragmented MRO market. Gross profit grew even faster, increasing by 20.3% year-over-year, while gross margin on a GMV basis improved by approximately 50 basis points sequentially. At the same time, we maintained disciplined cost management and further expanded AI adoption across our operations, supporting continued efficiency gains. As a result, we delivered a significant bottom-line turnaround: both GAAP net profit and non-GAAP adjusted net profit reversed year-ago losses and showed considerable sequential improvement. Looking ahead, we enter the second half of 2026 in a stronger financial position, and remain confident in our ability to deliver sustainable and profitable growth over the long term."

[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 15.0% of GMV in the second quarter of 2026, compared with 11.8% in the corresponding periods of 2025.

[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 ...