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ZKH Group Limited Announces Second Quarter 2024 Unaudited Financial Results
ZKHZKH(US:ZKH) Prnewswire·2024-08-22 10:00

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].