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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.

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. 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.