ZKH Group Limited announced its unaudited financial results for the second quarter ended June 30, 2025, reporting net revenues of RMB2,166.8 million (US$302.5 million), a decrease of 3.7% from RMB2,250.0 million in the same period of 2024. Gross Merchandise Value (GMV) also declined by 12.1% to RMB2,420,233, primarily due to a 49.7% decrease in Marketplace (3P) GMV.
Despite the top-line declines, the company's net loss narrowed by 19.3% to RMB53.5 million (US$7.5 million) compared to RMB66.3 million in Q2 2024, with net loss margin improving to 2.5% from 2.9%. Gross profit decreased by 6.8% to RMB357.0 million (US$49.8 million), and gross margin was 16.5%, down from 17.0% in the prior year period.
A key highlight was the substantial increase in the total number of customers, which grew by 53.5% year-over-year to 74,854. Management noted that the operational launch of the Taicang facility and accelerated international expansion are crucial for long-term growth. The company also reported net cash used in operating activities of RMB110.7 million (US$15.5 million) in Q2 2025, compared to net cash generated of RMB122.1 million in Q2 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.