ZKH Group Limited (ZKH)
NYSE: ZKH · Real-Time Price · USD
2.950
-0.050 (-1.67%)
At close: Sep 4, 2026, 4:00 PM EDT
2.875
-0.075 (-2.54%)
After-hours: Sep 4, 2026, 7:12 PM EDT
ZKH Group Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
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 |
Net Income | -139.74 | -268.04 | -304.31 | -735.68 | -1,122 |
Depreciation & Amortization | 48.36 | 54.77 | 73.47 | 76.07 | 53.03 |
Loss (Gain) From Sale of Assets | -0.63 | 0.66 | 3.01 | 0.18 | 0.43 |
Stock-Based Compensation | 53.82 | 108.52 | 17.39 | 31.9 | 183.35 |
Provision & Write-off of Bad Debts | 32.87 | 48.9 | 12.76 | 28.01 | 31.48 |
Other Operating Activities | -5.06 | 12.63 | 44.34 | 84.92 | 44.66 |
Change in Accounts Receivable | -199.33 | 502.4 | -585.49 | -333.07 | -1,127 |
Change in Inventory | -75.71 | 17.69 | -52.96 | 85.8 | -329.24 |
Change in Accounts Payable | 165.55 | -329.97 | 317.23 | 119.81 | 922.88 |
Change in Unearned Revenue | -0.28 | 7.53 | -11.22 | 1.02 | 11.33 |
Change in Other Net Operating Assets | 128.95 | 74.01 | -82.17 | 136.83 | -50.92 |
Operating Cash Flow | 8.79 | 229.07 | -567.95 | -504.2 | -1,383 |
Operating Cash Flow Growth | -96.16% | - | - | - | - |
Investing Activities
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 |
Capital Expenditures | -53.04 | -79.16 | -50.5 | -37.05 | -145.2 |
Sale of Property, Plant & Equipment | 3.7 | 2.09 | 4.72 | 12.94 | 5.05 |
Cash Acquisitions | - | - | - | - | -10.24 |
Sale (Purchase) of Intangibles | -0.67 | -3.88 | -5.07 | -13.06 | -12.87 |
Investment in Securities | -274.46 | 357.02 | -857.46 | 0.12 | 68.86 |
Investing Cash Flow | -324.47 | 276.08 | -908.3 | -37.04 | -94.4 |
Financing Activities
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 |
Short-Term Debt Issued | 589.79 | 897 | 1,114 | 764.16 | 404.17 |
Long-Term Debt Issued | 5.07 | 39.88 | - | 1,384 | - |
Total Debt Issued | 594.86 | 936.88 | 1,114 | 2,148 | 404.17 |
Short-Term Debt Repaid | -660.79 | -1,171 | -779 | -807.59 | -215.84 |
Total Debt Repaid | -660.79 | -1,171 | -779 | -807.59 | -215.84 |
Net Debt Issued (Repaid) | -65.93 | -234.12 | 335 | 1,341 | 188.33 |
Issuance of Common Stock | 2.46 | 30.3 | 385.77 | - | - |
Repurchase of Common Stock | -41 | -40.76 | - | - | - |
Other Financing Activities | - | -9.61 | -5.04 | -38.08 | -13.7 |
Financing Cash Flow | -104.47 | -254.19 | 715.72 | 1,303 | 174.63 |
Net Cash Flow
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 |
Foreign Exchange Rate Adjustments | -4.29 | 15.55 | 5.04 | 117.47 | -8.7 |
Net Cash Flow | -424.44 | 266.51 | -755.48 | 878.94 | -1,311 |
Free Cash Flow
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 |
Free Cash Flow | -44.25 | 149.91 | -618.44 | -541.25 | -1,528 |
Free Cash Flow Growth | - | - | - | - | - |
Free Cash Flow Margin | -0.49% | 1.71% | -7.09% | -6.51% | -19.96% |
Free Cash Flow Per Share | -0.27 | 0.92 | -14.16 | -14.30 | -44.06 |
Levered Free Cash Flow | 35.07 | 218.69 | -671.59 | 122.7 | -1,217 |
Unlevered Free Cash Flow | 42.17 | 230.57 | -659.5 | 181.57 | -1,210 |
Additional Metrics
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 Interest Paid | 3.81 | 10.16 | 19.34 | 20.96 | 10.29 |
Cash Income Tax Paid | 0.57 | 0.84 | 0.15 | 1.22 | 1.22 |
Change in Working Capital | 19.18 | 271.64 | -414.6 | 10.4 | -573.21 |