ZKH Group (NYSE:ZKH), a leading digitalized industrial maintenance, repair, and operations (MRO) procurement platform in China, reported its unaudited financial results for the fourth quarter and full year ended December 31, 2025.
The company achieved a critical financial turning point, reporting a GAAP net profit of RMB 4.8 million for the fourth quarter, marking its return to profitability.
Fourth-quarter net revenues rose 7.9% year-over-year to RMB 2,557.2 million, bringing full-year 2025 revenues to RMB 8,987.7 million.
While gross profit for the year saw a slight decline of 2.3% to RMB 1,475.7 million, the company successfully offset margin pressures through massive gains in operational productivity.
A key driver of this efficiency was the deployment of over 5,000 Robotic Process Automations (RPAs) and a proprietary vertical Large Language Model (LLM) designed to streamline industrial procurement and technical support.
Operationally, ZKH significantly expanded its market moat in 2025.
The company’s product catalog grew to approximately 23 million SKUs—adding 5.7 million in the last year alone—supported by a robust logistics network of 30 distribution centers.
This scale allowed ZKH to reduce through-warehouse fulfillment fees by approximately 13%, passing savings to a rapidly growing customer base.
While marketplace Gross Merchandise Volume (GMV) saw a decline as the company prioritized higher-quality internal transactions, its Small and Medium Enterprise (SME) customer count expanded significantly, diversifying its revenue streams away from heavy reliance on large-scale industrial accounts.
ZKH enters 2026 positioned as a digital-first leader in a consolidating MRO market.