ZKH Group Limited Announces Third Quarter 2024 Unaudited Financial Results

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$325.0 million), a 0.7$ 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$11.7 million), an improvement from a net loss of RMB 97.7 million in Q3 2023 [15][16]. Operational Highlights - The total GMV decreased by 7.2$ 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].