ZKH Group Limited Announces First Quarter 2026 Financial Results

ZKH Group Limited announced its unaudited financial results for the first quarter ended March 31, 2026. The company reported a GMV of RMB 2,452,783 thousand, a 12.9% increase year over year. Net revenues were RMB 2,113,819 thousand, up 9.2% from the previous year. Gross profit increased by 6.6% to RMB 354,027 thousand, although the gross margin decreased slightly to 16.7%. The company significantly reduced its operating loss to RMB 22,497 thousand from RMB 80,813 thousand in the same period last year. Non-GAAP EBITDA turned positive at RMB 4,237 thousand, compared to a loss of RMB 51,959 thousand in Q1 2025. Net loss attributable to ordinary shareholders narrowed to RMB 10,103 thousand from RMB 66,723 thousand in the prior year. The company highlighted growth acceleration, improved earnings quality, and enhanced operational efficiency driven by investments in its product ecosystem, fulfillment network, and AI capabilities. ZKH also reported progress in its international expansion, particularly in the U.S. market.