ZKH Group narrowed its Q3 2025 net loss, boosted revenue, and expanded products and AI investments.

ZKH Group Limited reported improved financial results for Q3 2025, with its net loss narrowing to RMB24.3 million from RMB81.8 million in the same period last year, and net loss margin shrinking to 1.0% from 3.6%. Net revenues rose 2.1% year over year to RMB2.33 billion. The company saw recovery in gross merchandise value, with double-digit growth in central state-owned enterprise GMV for two consecutive quarters, and private-label GMV increased 16.7% annually. ZKH added over 2.3 million new SKUs, launched 600 new private-label products, and consolidated warehouses to cut costs. Operating cash inflow reached RMB105.5 million, and the company emphasized ongoing investments in AI, international expansion, and long-term shareholder value.