ZKHNYSERetail-Building Materials, Hardware, Garden SupplyFiscal year ends December 31

ZKH Group Ltd

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 24, 2026

$1.86+0.11 (+6.29%)

Close on Oct 19, 2026

ZKH Group Ltd balance sheet

Annual Quarterly

CNY USD

Millions of CNY, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31
Cash & Equivalents	1,031	1,424	1,250	2,006	1,127	2,438
Short-Term Investments	825	544	874	–	–	–
Cash & Short-Term Investments	1,856	1,968	2,125	2,006	1,127	2,438
Receivables	3,257	3,090	3,640	3,067	–	–
Inventory	670	625	669	656	–	–
Prepaid Expenses & Other	180	179	168	244	–	–
Other Current Assets	26	22	36	135	–	–
Total Current Assets	6,138	6,190	6,954	6,283	–	–
Property, Plant & Equipment	186	184	145	167	–	–
Gross Property, Plant & Equipment	410	391	327	309	–	–
Accumulated Depreciation	-224	-208	-182	-142	–	–
Operating Lease Right-of-Use Assets	153	191	236	309	–	–
Goodwill	31	31	31	31	–	–
Intangible Assets	22	16	20	24	–	–
Total Assets	6,530	6,611	7,387	6,814	–	–
Accounts Payable	2,719	2,546	2,875	2,555	–	–
Short-Term Debt	240	311	585	250	–	–
Current Portion of Long-Term Debt	2.31	1.00	–	–	–	–
Current Debt	242	312	585	250	–	–
Current Portion of Leases	50	81	91	96	–	–
Deferred Revenue (Current)	27	27	20	31	–	–
Other Current Liabilities	79	66	125	97	–	–
Total Current Liabilities	3,426	3,340	4,028	3,482	–	–
Long-Term Debt	43	39	–	–	–	–
Long-Term Leases	92	109	147	214	–	–
Operating Lease Liabilities	142	190	238	310	–	–
Other Long-Term Liabilities	28	25	0.51	0.78	–	–
Total Liabilities	3,589	3,513	4,175	3,697	–	–
Total Debt	285	351	585	250	–	–
Common Stock	0.00	0.00	0.00	0.00	–	–
Additional Paid-In Capital	8,371	8,305	8,139	–	–	–
Retained Earnings	-5,317	-5,177	-4,909	-4,024	–	–
Treasury Stock	-82	-41	–	–	–	–
Comprehensive Income & Other	-37	4.76	-25	-52	–	–
Shareholders' Equity	2,941	3,098	3,211	-4,071	–	–
Noncontrolling Interest	–	–	–	4.24	–	–
Total Equity	2,941	3,098	3,211	-4,066	-2,766	-1,465
Total Liabilities & Equity	6,530	6,611	7,387	6,814	–	–
Shares Outstanding(shares)	5,564	5,602	5,621	1,219	–	–

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 16.4%
Operating margin: -2.4%
Net margin: -1.6%
Return on equity, FY2025: -4.6%

Financial strength

Current ratio: 1.79
Debt to equity: 0.10
Debt to assets: 4.4%
Cash to current liabilities: 30.1%

Valuation

P/E ratio: –
Price to sales: –
Price to book: –
Dividend yield: –

Valuation ratios need the share price and fill in once daily prices are connected.