ZKH Group Limited reported its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. For the full fiscal year 2024, net revenues increased slightly by 0.5% to RMB8,761.3 million (US$1,200.3 million) from RMB8,721.2 million in 2023. The company's net loss for the full year narrowed by 12.1% to RMB268.0 million (US$36.7 million) from RMB304.9 million in 2023.
A significant milestone for ZKH in 2024 was achieving positive net cash generated from operating activities, totaling RMB229.1 million (US$31.4 million), a substantial improvement from net cash used in operating activities of RMB567.9 million in 2023. This marks the first full year of positive operating cash inflow for the company. Gross profit for the fiscal year increased by 4.0% to RMB1,510.5 million (US$206.9 million), with gross margin improving to 17.2% from 16.7% in 2023.
In the fourth quarter of 2024, net revenues decreased by 3.0% to RMB2,370.2 million (US$324.7 million) compared to the same period in 2023, primarily due to the optimization of certain low-margin businesses in the marketplace model. Despite this, the total number of customers for the full year 2024 grew by 26.1% to 83,958. Management expressed confidence in achieving full-year profitability for its domestic operations in 2025, citing enhanced profitability and an expanding global footprint.
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