ZKH Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	1,074	1,031	1,424	1,091	1,954	538
Short-Term Investments	710.45	825.29	543.98	874.21	-	-
Cash & Short-Term Investments	1,785	1,856	1,968	1,965	1,954	538
Cash Growth	5.97%	-5.69%	0.16%	0.54%	263.25%	-73.52%
Accounts Receivable	3,079	3,257	3,090	3,640	3,067	2,762
Other Receivables	142.93	113.29	234.21	353	310.71	396.46
Total Trade Receivables	3,222	3,370	3,325	3,993	3,378	3,158
Inventory	642.1	669.83	625.39	668.98	656	762.94
Other Current Assets	230.4	242.06	272.33	327.87	295.24	819
Total Current Assets	5,879	6,138	6,190	6,954	6,283	5,278
Net Property, Plant & Equipment	324.68	338.97	374.33	381.25	475.61	609.74
Other Intangible Assets	27.06	21.87	15.93	20.1	24.05	21.31
Goodwill	30.81	30.81	30.81	30.81	30.81	30.81
Total Assets	6,261	6,530	6,611	7,387	6,814	5,940
Accounts Payable	2,488	2,719	2,553	2,883	2,566	2,446
Accrued Expenses	390.1	378.57	365.33	448.23	539.19	519.15
Short-Term Debt	230	240	311	585	250	264.17
Current Portion of Long-Term Debt	2.31	2.31	1	-	-	-
Current Portion of Leases	47.08	50.2	81.38	91.23	95.78	130.37
Unearned Revenue	37.81	27.15	27.43	19.91	31.13	30.11
Other Current Liabilities	-	8.62	-	-	-	-
Total Current Liabilities	3,195	3,426	3,340	4,028	3,482	3,390
Long-Term Debt	42.65	42.65	38.89	-	-	-
Long-Term Leases	83.25	91.89	109.1	146.97	214.43	271.95
Other Long-Term Liabilities	34.97	28.18	25.22	0.51	0.78	1.22
Total Long-Term Liabilities	160.87	162.73	173.21	147.48	215.21	273.17
Total Liabilities	3,356	3,589	3,513	4,175	3,697	3,663
Common Stock	0	0	0	0	0	0
Treasury Stock	-91.44	-81.76	-40.76	-	-	-
Additional Paid-in Capital	8,385	8,371	8,305	8,139	-	-
Accumulated Other Comprehensive Income	-67.43	-37.29	4.76	-25.15	-51.91	-0.93
Retained Earnings	-5,321	-5,311	-5,171	-4,903	-4,019	-2,769
Total Common Shareholders' Equity	2,906	2,941	3,098	3,211	-4,071	-2,770
Minority Interest	-	-	-	-	4.24	5,047
Shareholders' Equity	2,906	2,941	3,098	3,211	-4,067	2,277
Total Liabilities & Equity	6,261	6,530	6,611	7,387	6,814	5,940
Total Debt	405.29	427.05	541.36	823.2	560.2	666.49
Net Cash (Debt)	1,379	1,429	1,427	1,142	1,394	-128.49
Net Cash Growth	-3.47%	0.16%	24.96%	-18.11%	-	-
Net Cash Per Share	8.52	8.79	8.70	26.14	36.82	-3.71
Book Value	2,906	2,941	3,098	3,211	-4,071	-2,770
Book Value Per Share	17.95	18.11	18.91	73.53	-107.53	-79.86
Tangible Book Value	2,848	2,889	3,052	3,161	-4,126	-2,822
Tangible Book Value Per Share	17.60	17.78	18.62	72.37	-108.97	-81.37

Updated May 21, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q