ZKH Group Reports First Quarter Operating Profitability in Q2 2026
In its second-quarter earnings call for 2026, ZKH Group Limited (ticker: ZKH) reported a significant milestone by achieving quarterly operating profitability of RMB 4.0 million, compared to an operating loss of RMB 72.0 million in the same period last year. This turnaround was driven by broad-based growth across key segments such as SMEs and state-owned enterprises, along with improved gross margins due to a more optimized product mix. The company's total GMV reached RMB 2.9 billion, up 18.9% year-over-year, while net revenues grew 12.8%, marking the fastest growth in recent quarters. Non-GAAP adjusted net profit also turned positive at RMB 38.5 million after a loss of RMB 36.5 million last year. Management attributed these results to disciplined expense management and improved operational efficiency across departments. Looking ahead, ZKH expects full-year GMV growth between 15% and 20%, with further acceleration anticipated in the second half.
