ZKH Group Loss Narrows, Revenues Decline In Q2; Stock Up

(RTTNews) - ZKH Group Ltd. (ZKH), a Chinese procurement service platform, on Friday reported second-quarter results with a narrowed net loss despite declining revenue.

In the pre-market, the ZKH shares were trading 4.71% higher at $3.11 on the NYSE.

Net loss narrowed to RMB53.51 million or $7.47 million from a loss of RMB66.29 million a year ago.

The loss per share was at RMB 0.01, same as last year.

The loss per American Depository Share or ADS was RMB0.33 or $0.05, compared to loss of RMB0.40 in the prior year.

In the second quarter, the firm reported adjusted net loss of RMB36.53 million or $5.10 million, compared to loss of RMB34.86 million a year ago.

Adjusted loss per ADS share valued to RMB0.23 or $0.03, compared to loss of RMB0.21 a year ago.

EBITDA of the company was a loss of RMB38.66 million or $5.4 million, compared to loss of RMB47.07 million in the prior year.

Net revenues decreased 3.7% to RMB2.17 billion or $302.47 million from RMB2.25 billion in the same period of 2024.

GMV was down 12.1% to RMB2.42 billion from last year's RMB2.75 billion.

Looking ahead, Eric Long Chen, Chairman and CEO, stated that the company's strategic initiatives may weigh short-term financial performance, but they are crucial for middle- and long-term growth.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.