ZKH Group Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	8,988	8,761	8,721	8,315	7,655
Revenue Growth (YoY)	2.58%	0.46%	4.88%	8.63%	63.34%
Cost of Revenue	-7,512	-7,251	-7,269	-6,998	-6,615
Gross Profit	16,500	16,012	15,990	15,313	14,269
Selling, General & Admin	1,523	1,680	1,675	1,763	1,894
Research & Development	165.52	169.5	175.92	240.53	256.42
Total Operating Expenses	1,689	1,849	1,851	2,003	2,150
Operating Income	14,811	14,163	14,139	13,309	12,119
Interest Income	50.09	64.25	53.7	14.56	28.28
Interest Expense	-11.35	-19	-19.34	-94.18	-10.59
Other Non-Operating Income (Expense)	35.55	26.5	59.66	33.74	-1.16
Total Non-Operating Income (Expense)	74.28	71.74	94.02	-45.89	16.53
Pretax Income	-139.05	-267.03	-304.71	-731.59	-1,094
Provision for Income Taxes	0.69	-	-	-	0.2
Net Income	-139.74	-268.04	-964.38	-1,245	-1,452
Minority Interest in Earnings	-	-	-0.59	4.56	28.37
Net Income Attributable to Preferred Dividends	-	-	660.07	509.28	329.74
Net Income to Common	-139.74	-268.04	-964.38	-1,245	-1,452
Shares Outstanding (Basic)	162	164	44	38	35
Shares Outstanding (Diluted)	162	164	44	38	35
Shares Change (YoY)	-0.88%	275.28%	15.36%	9.16%	7.68%
EPS (Basic)	-0.70	-1.75	-22.05	-32.90	-42.00
EPS (Diluted)	-0.70	-1.75	-22.05	-32.90	-42.00
Shares Outstanding	162.16	160.05	161.07	-	-
Free Cash Flow	0	149.91	-618.44	-541.25	-1,528
Free Cash Flow Per Share	-	0.91	-14.16	-14.30	-44.06
Gross Margin	183.58%	182.76%	183.35%	184.15%	186.42%
Operating Margin	164.79%	161.65%	162.12%	160.06%	158.33%
Profit Margin	-1.55%	-3.06%	-3.50%	-8.79%	-14.29%
FCF Margin	0.00%	1.71%	-7.09%	-6.51%	-19.96%
EBITDA	14,811	14,218	14,212	13,386	12,172
EBITDA Margin	164.79%	162.28%	162.96%	160.98%	159.02%
EBIT	14,811	14,163	14,139	13,309	12,119
EBIT Margin	164.79%	161.65%	162.12%	160.06%	158.33%
Effective Tax Rate	-0.50%	0.00%	0.00%	0.00%	-0.02%

Updated Mar 19, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q