ZKH · ZKH Group Limited

Summary

ZKH Group Limited announced unaudited financial results for Q4 and FY2025 ended December 31, 2025, with Q4 net revenues of RMB2,557.2 million up 7.9% YoY and GAAP net profit of RMB4.8 million, while FY net revenues increased 2.6% YoY to RMB8,987.7 million. Results reflect customer growth of 59.8% in Q4 and 85.6% for the year, marking return to profitability.

Key takeaways

• Q4 GMV RMB2,918,297 thousand, +8.5% YoY
• FY2025 GMV RMB10,133,428 thousand, -3.3% YoY
• Q4 net revenues RMB2,557,238 thousand, +7.9% YoY
• FY2025 net revenues RMB8,987,738 thousand, +2.6% YoY
• Q4 GAAP net profit RMB4,797 thousand vs net loss RMB29,102 thousand YoY
• Q4 customers 73,803, +59.8% YoY; FY2025 155,829, +85.6% YoY