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%	263.25%	-73.52%
Accounts Receivable	3,257	3,090	3,640	3,067	2,762
Other Receivables	113.29	234.21	353	310.71	396.46
Total Trade Receivables	3,370	3,325	3,993	3,378	3,158
Inventory	669.83	625.39	668.98	656	762.94
Other Current Assets	242.06	272.33	327.87	295.24	819
Total Current Assets	6,138	6,190	6,954	6,283	5,278
Net Property, Plant & Equipment	338.97	374.33	381.25	475.61	609.74
Other Intangible Assets	21.87	15.93	20.1	24.05	21.31
Goodwill	30.81	30.81	30.81	30.81	30.81
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	365.33	448.23	539.19	519.15
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
Unearned Revenue	27.15	27.43	19.91	31.13	30.11
Other Current Liabilities	8.62	-	-	-	-
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 Long-Term Liabilities	162.73	173.21	147.48	215.21	273.17
Total Liabilities	3,589	3,513	4,175	3,697	3,663
Common Stock	0	0	0	0	0
Treasury Stock	-81.76	-40.76	-	-	-
Additional Paid-in Capital	8,371	8,305	8,139	-	-
Accumulated Other Comprehensive Income	-37.29	4.76	-25.15	-51.91	-0.93
Retained Earnings	-5,311	-5,171	-4,903	-4,019	-2,769
Total Common Shareholders' Equity	2,941	3,098	3,211	-4,071	-2,770
Minority Interest	-	-	-	7,187	5,047
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	-3.71
Book Value	2,941	3,098	3,211	-4,071	-2,770
Book Value Per Share	18.11	18.91	73.53	-107.53	-79.86
Tangible Book Value	2,889	3,052	3,161	-4,126	-2,822
Tangible Book Value Per Share	17.78	18.62	72.37	-108.97	-81.37

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

SEC Filings: 10-K · 10-Q