Core Viewpoint - ZKH Group Limited has entered into a strategic partnership with Zhejiang Tmall Technology Co., Ltd. to enhance cooperation in the industrial product market, effective until October 31, 2026 [1][2]. Group 1: Partnership Details - The partnership aims to explore commercialization models for industrial products and facilitate the upgrade and expansion of both parties' industrial product supplies [2]. - ZKH will arrange for flagship stores of leading industrial product brands to join Tmall's platform, while Tmall will provide tailored services and support [2]. Group 2: Company Overview - ZKH Group Limited is a leading MRO procurement service platform in China, focusing on digital transformation to improve cost efficiency across the industry [3]. - The company offers digitalized, one-stop MRO procurement solutions, enabling customers to access a wide selection of quality products at competitive prices [3]. - ZKH emphasizes timely and reliable product delivery through professional fulfillment services, catering specifically to the needs of MRO suppliers and customers [3].

Core Viewpoint - ZKH Group Limited reported its third-quarter financial results for 2024, showing a slight increase in net revenues despite a decline in gross merchandise volume (GMV) and a focus on operational optimization to improve profitability metrics [1][3]. Financial Performance - Net revenues for Q3 2024 were RMB 2,280.7 million (US$ 325.0 million), a 0.7% increase from RMB 2,265.0 million in Q3 2023 [3][4]. - Gross profit increased by 5.1% to RMB 388.4 million (US$ 55.3 million), with a gross margin of 17.0%, up from 16.3% in the same period last year [7][8]. - The company reported a net loss of RMB 81.8 million (US$ 11.7 million), an improvement from a net loss of RMB 97.7 million in Q3 2023 [15][16]. Operational Highlights - The total GMV decreased by 7.2% to RMB 2,685.996 million, with the ZKH platform GMV down by 7.5% [2]. - The number of customers increased by 16.9% year-over-year, reaching 47,876 [2]. - The company generated net cash from operating activities of RMB 160.5 million in Q3 2024, compared to net cash used in the same period of the previous year [21]. Cost Management - Cost of revenues slightly decreased by 0.2% to RMB 1,892.3 million (US$ 269.7 million), indicating effective cost management strategies [6]. - Operating expenses increased by 0.6% to RMB 493.8 million (US$ 70.4 million), with a slight decrease in the percentage of operating expenses relative to net revenues [9]. Strategic Focus - The company emphasized ongoing optimization efforts to enhance business quality and reduce loss margins, with a notable improvement in gross margin and adjusted net loss margin [1][2]. - ZKH Group is committed to long-term growth and value creation for stakeholders, focusing on strengthening product capabilities and customer relationships [1][2].

Core Viewpoint - ZKH Group Limited, a leading MRO procurement service platform in China, is set to release its unaudited financial results for Q3 2024 on November 22, 2024, before U.S. market opening [1]. Group 1: Financial Results Announcement - The unaudited financial results for Q3 2024 will be announced on November 22, 2024 [1]. - An earnings conference call will be held on the same day at 7:00 A.M. U.S. Eastern Time to discuss the financial results [2]. - Access to the conference call will be available through various toll-free numbers for the U.S., international, and Mainland China [2][3]. Group 2: Company Overview - ZKH Group Limited is focused on the digital transformation of the MRO industry, aiming to reduce costs and improve efficiency [4]. - The company offers digitalized, one-stop MRO procurement solutions, providing customers with access to a wide selection of quality products at competitive prices [4]. - ZKH Group Limited enhances product delivery through professional fulfillment services, catering specifically to the needs of MRO suppliers and customers [4].

Investment Rating - The report assigns an "Overweight" rating to ZKH (首次覆盖) [1] Core Views - ZKH's scale advantage is driving profit improvement, and the share buyback plan demonstrates confidence in future development [1] - ZKH's platform operations remain stable, with the Gongbangbang platform showing strong growth [2] - Revenue is growing rapidly, with marginal improvement in profit levels [2] - The company has completed multiple rounds of financing, attracting well-known institutions such as Zhongding Capital and Genesis Capital [2] - The share buyback plan reflects management's confidence in the company's long-term development [2] Financial Performance - In Q2 2024, ZKH achieved revenue of 2.25 billion yuan, a year-on-year increase of 8.5% [2] - Non-GAAP adjusted net profit was -35 million yuan, a reduction in loss of 95 million yuan compared to the same period last year [2] - Gross margin was 17.0%, up 0.8 percentage points year-on-year [2] - The ZKH platform's GMV was 2.48 billion yuan, up 4.4% year-on-year, with revenue of 1.893 billion yuan, up 7.8% year-on-year, and a gross margin of 15.5%, up 1.81 percentage points year-on-year [2] - The Gongbangbang platform's GMV was 270 million yuan, up 17.8% year-on-year, with revenue of 270 million yuan, up 17.3% year-on-year, and a gross margin of 5.6%, down 0.29 percentage points year-on-year [2] Revenue and Profit Forecast - Forecasted revenue for 2024-2026E is 9.77 billion yuan, 10.82 billion yuan, and 11.76 billion yuan, respectively [3] - Forecasted net profit attributable to the parent company for 2024-2026E is 86 million yuan, 402 million yuan, and 724 million yuan, respectively [3] - The corresponding P/E ratios are 47.9X, 10.3X, and 5.7X, respectively [3] Valuation Metrics - ROE is expected to improve from -9.5% in 2023A to 16.4% in 2026E [4] - Gross margin is forecasted to increase from 17% in 2023A to 20% in 2026E [5] - Revenue growth rate is projected to be 12% in 2024E, 11% in 2025E, and 9% in 2026E [5] - Net profit growth rate is expected to be 128% in 2024E, 366% in 2025E, and 80% in 2026E [5] Share Buyback Plan - ZKH announced a share buyback plan on June 14, 2024, intending to repurchase up to $50 million worth of ADS within the next 12 months [2]

Core Viewpoint - ZKH Group Limited reported solid financial performance in Q2 2024, with significant growth in gross merchandise volume (GMV) and net revenues, driven by an increase in customer numbers and strong demand in the maintenance, repair, and operations (MRO) market [1][2][3]. Financial Performance - **Gross Merchandise Volume (GMV)**: Increased by 5.6% year-over-year to RMB 2,754.6 million [2]. - **Net Revenues**: Rose by 8.5% year-over-year to RMB 2,250.0 million (US$309.6 million) [3][4]. - **Gross Profit**: Increased by 14.3% to RMB 383.0 million, with a gross margin of 17.0%, up from 16.2% [6][7]. - **Operating Loss**: Narrowed to RMB 71.2 million from RMB 123.1 million in the same period last year, improving the operating loss margin to 3.2% from 5.9% [11][13]. - **Net Loss**: Reduced by 48.8% to RMB 66.3 million, with a net loss margin of 2.9% compared to 6.2% in Q2 2023 [13][14]. Customer Growth - **Number of Customers**: Increased by 25.1% year-over-year to 48,766, with notable growth in both ZKH and GBB platforms [2][3]. - **ZKH Platform Customers**: Grew by 18.9% to 34,360 [2]. - **GBB Platform Customers**: Increased by 43.0% to 14,406 [2]. Business Model Performance - **Product Sales (1P)**: Increased by 9.5% to RMB 2,185.4 million [2][4]. - **Marketplace (3P)**: Decreased by 7.3% to RMB 569.2 million, reflecting a lower proportion of GMV generated by the marketplace model [2][4]. Operational Efficiency - **Operating Expenses**: Decreased by 0.9% to RMB 454.2 million, with operating expenses as a percentage of net revenues improving to 20.2% from 22.1% [8][9]. - **Fulfillment Expenses**: Decreased by 7.1% to RMB 99.1 million, contributing to improved operational efficiency [8]. - **Sales and Marketing Expenses**: Decreased by 6.5% to RMB 157.7 million [9]. Future Outlook - The company aims to continue investing in supply chain capabilities and digitalization to enhance customer engagement and service offerings, positioning itself to capitalize on growth opportunities in the MRO market [1][2].

SHANGHAI, June 13, 2024 /PRNewswire/ -- ZKH Group Limited (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$50 million of its American Depositary Shares over the next 12 months, ending on June 13, 2025.The share repurchases may be effected from time to time on the open market at prevailing market prices, in privately negotiated ...

Exhibit 99.1 ZKH Group Limited Announces First Quarter 2024 Unaudited Financial Results SHANGHAI, China, May 21, 2024 – ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Operational and Financial Highlights | --- | --- | --- | --- | |----------------------------------|---------------------------------- ...

SHANGHAI, May 21, 2024 /PRNewswire/ -- ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2024.First Quarter 2024 Operational and Financial Highlights in thousand RMB, except for number of customers, percentage and basis points ("bps") First Quarter 2023 2024 Change GMV[1] 2,372,911 2,348,640 -1.0 % GMV by Platform     ZKH Pla ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Exhibit 99.1 ZKH Group Limited Announces Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results SHANGHAI, China, March 19, 2024 – ZKH Group Limited ("ZKH" or the "Company") (NYSE: ZKH), a leading maintenance, repair and operations ("MRO") procurement service platform in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2023. Fourth Quarter and Fiscal Year 2023 Operational and Financial Highlights | --- | --- | --- | --- | --- | --- | -- ...