ZKH Group Balance Sheet

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
Cash & Equivalents	1,031	1,424	1,091	1,954	538
Short-Term Investments	825.29	543.98	874.21	-	-
Cash & Short-Term Investments	1,856	1,968	1,965	1,954	538
Cash Growth	-5.69%	0.16%	0.54%	263.24%	-73.52%
Accounts Receivable	3,370	3,325	3,993	3,378	3,158
Other Receivables	-	29.56	13.31	-	-
Receivables	3,370	3,354	4,006	3,378	3,158
Inventory	669.83	625.39	668.98	656	762.94
Restricted Cash	61.87	92.94	159.75	51.61	588.92
Other Current Assets	180.19	149.83	154.81	243.63	230.08
Total Current Assets	6,138	6,190	6,954	6,283	5,278
Property, Plant & Equipment	338.97	374.33	381.25	475.61	609.74
Goodwill	30.81	30.81	30.81	30.81	30.81
Other Intangible Assets	21.87	15.93	20.1	24.05	21.31
Total Assets	6,530	6,611	7,387	6,814	5,940
Accounts Payable	2,719	2,553	2,883	2,566	2,446
Accrued Expenses	378.57	221.79	235.96	275.1	288.22
Short-Term Debt	240	311	585	250	264.17
Current Portion of Long-Term Debt	2.31	1	-	-	-
Current Portion of Leases	50.2	81.38	91.23	95.78	130.37
Current Income Taxes Payable	-	9.85	17.82	112.24	62.15
Current Unearned Revenue	27.15	27.43	19.91	31.13	30.11
Other Current Liabilities	8.62	133.69	194.45	151.86	168.78
Total Current Liabilities	3,426	3,340	4,028	3,482	3,390
Long-Term Debt	42.65	38.89	-	-	-
Long-Term Leases	91.89	109.1	146.97	214.43	271.95
Other Long-Term Liabilities	28.18	25.22	0.51	0.78	1.22
Total Liabilities	3,589	3,513	4,175	3,697	3,663
Common Stock	0	0	0	0	0
Additional Paid-In Capital	8,371	8,305	8,139	-	-
Retained Earnings	-5,311	-5,171	-4,903	-4,019	-2,769
Treasury Stock	-81.76	-40.76	-	-	-
Comprehensive Income & Other	-37.29	4.76	-25.15	-51.91	-0.93
Total Common Equity	2,941	3,098	3,211	-4,071	-2,770
Minority Interest	-	-	-	4.24	4.91
Shareholders' Equity	2,941	3,098	3,211	3,116	2,277
Total Liabilities & Equity	6,530	6,611	7,387	6,814	5,940
Total Debt	427.05	541.36	823.2	560.2	666.49
Net Cash (Debt)	1,429	1,427	1,142	1,394	-128.49
Net Cash Growth	0.16%	24.96%	-18.11%	-	-
Net Cash Per Share	8.79	8.70	26.14	36.82	-3.70
Filing Date Shares Outstanding	161.91	159.81	161.07	34.82	34.82
Total Common Shares Outstanding	161.91	160.05	161.07	34.82	34.82
Working Capital	2,712	2,851	2,927	2,801	1,888
Book Value Per Share	18.17	19.36	19.94	-116.92	-79.55
Tangible Book Value	2,889	3,052	3,161	-4,126	-2,822
Tangible Book Value Per Share	17.84	19.07	19.62	-118.49	-81.05
Machinery	-	208.77	208.27	213.54	204.61
Construction In Progress	-	78.95	31.01	2.78	0.69
Leasehold Improvements	-	103.71	88.21	92.34	85.92

Updated Mar 19, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q