51 results
20-F
2023 FY
ZKH
ZKH Group Limited
19 Apr 24
Annual report (foreign)
6:05am
Our gross margin is affected by our scale, the mix of business models that we operate, the mix of platforms we operate, and the mix of products sold on our platform. The following table sets forth our gross profit and gross margin under the respective business models and platforms for the years presented. Gross profit is calculated by subtracting cost of revenues from net revenues, and gross margin represents gross profit as a percentage of net revenues.
| | | | | | | | | | | | | | |
| | For the Year Ended December 31, | ||||||||||||
| | 2021 | | 2022 | | 2023 | ||||||||
| | Gross | | Gross | | Gross | | Gross | | Gross | | Gross | ||
| | Profit | | Margin | | Profit | | Margin | | Profit | | Margin | ||
| | (RMB | | | | (RMB | | | | (RMB | | (US$ | | |
| | thousands) | | (%) | | thousands) | | (%) | | thousands) | | thousands) | | (%) |
Under product sales: | ||||||||||||||
ZKH platform | 830,202 | 12.7 | 1,045,025 | 14.4 | 1,046,209 | 147,355 | 14.2 | |||||||
GBB platform | 60,156 | 6.3 | 55,756 | 6.9 | 61,789 | 8,703 | 6.4 | |||||||
Under marketplace | 116,692 | 100.0 | 179,508 | 100.0 | 307,412 | 43,298 | 100.0 | |||||||
Others | 32,705 | 86.4 | 37,381 | 76.6 | 37,024 | 5,215 | 51.3 | |||||||
Total | 1,039,755 | 13.6 | 1,317,670 | 15.8 | 1,452,434 | 204,571 | 16.7 |
20-F
2023 FY
ZKH
ZKH Group Limited
19 Apr 24
Annual report (foreign)
6:05am
| | | | | | | | | | |
| | Ordinary Shares Beneficially Owned | ||||||||
| | Class A Ordinary | | Class B Ordinary | | Total Ordinary | | % of Beneficial | | % of Aggregate |
| | Shares | | Shares | | Shares | | Ownership† | | Voting Power†† |
Directors and Executive Officers**: | | | | | | | | | | |
Long Chen(1) | — | 890,677,378 | 890,677,378 | 15.8 | 66.5 | |||||
Shares subject to voting proxy(2) | — | 270,402,622 | 270,402,622 | 4.8 | 20.2 | |||||
Total(1)(2) | — | 1,161,080,000 | 1,161,080,000 | 20.6 | 86.6 | |||||
Junyu Li(3) | — | 50,000,000 | 50,000,000 | 0.9 | 3.7 | |||||
Shuangyi Chen | — | * | * | * | 1.5 | |||||
Changxiang Yang | — | * | * | * | * | |||||
Xiaoyi Wu(4) | 57,541,800 | — | 57,541,800 | 1.0 | 0.2 | |||||
Cindy Xiaofan Wang | — | — | — | — | — | |||||
He Xu | — | — | — | — | — | |||||
Fengyi Bie | — | * | * | * | * | |||||
Chun Chiu Lai | — | — | — | — | — | |||||
Yang Liu | — | — | — | — | — | |||||
All Directors and Executive Officers as a Group | 57,541,800 | 1,161,080,000 | 1,218,621,800 | 21.6 | 86.8 | |||||
| | | | | | | | | | |
Principal Shareholders: | ||||||||||
Phoenix ZKH Limited(1) | — | 890,677,378 | 890,677,378 | 15.8 | 66.5 | |||||
Eastern Bell related entities and an affiliate(5) | 818,170,300 | — | 818,170,300 | 14.5 | 2.4 | |||||
Tencent Mobility Limited(6) | 526,845,143 | — | 526,845,143 | 9.3 | 1.6 | |||||
Genesis Capital related entities(7) | 396,849,600 | — | 396,849,600 | 7.0 | 1.2 | |||||
Canada Pension Plan Investment Board(8) | 371,648,061 | — | 371,648,061 | 6.6 | 1.1 | |||||
Tiger Global Management, LLC(9) | 290,178,469 | — | 290,178,469 | 5.1 | 0.9 |
20-F
2023 FY
ZKH
ZKH Group Limited
19 Apr 24
Annual report (foreign)
6:05am
| | | | | | | | |
| | As of December 31, 2023 | ||||||
| | | | | | Weighted-average | | |
| | | | | | remaining | | |
| | | | Weighted-average | | exercise | | |
| | Options | | exercise price | | contractual | | Aggregate |
| number | per option | life (years) | intrinsic value | ||||
| | | | US$ | | | | US$ in thousands |
Options outstanding | 248,955,519 | 0.06 | 7.80 | 100,501 | ||||
Exercisable | 133,762,513 | 0.02 | 6.49 | 60,138 | ||||
Expected to vest | 115,193,006 | 0.12 | 9.32 | 40,363 |
20-F
2023 FY
ZKH
ZKH Group Limited
19 Apr 24
Annual report (foreign)
6:05am
| | | | | | | |
| | Year ended December 31 | |||||
| | 2021 | | 2022 | | 2023 | |
| RMB | RMB | RMB | ||||
Exercise price | RMB0.70 | RMB0.00 – 1.80 | RMB0.00-1.80 | | |||
| (USD$0.11) | (USD$0.00 – 0.26) | (USD$0.00-0.25) | | |||
Fair value of the ordinary shares on the | RMB1.31 | RMB1.35 – 1.40 | RMB2.04-3.10 | | |||
date of option grant | (USD$0.20) | (USD$0.19 – 0.21) | (USD$0.30-0.43) | | |||
Risk-free interest rate | 3.09 | % | 2.70% – 2.88 | % | 2.64%-3.84 | % | |
Contractual life | 10 years | 10 years | 10 years | | |||
Expected forfeiture rate (post-vesting) | 16 | % | 16 | % | 16 | % | |
Exercise multiples | 2.8 | 2.8 | 2.8 | | |||
Expected dividend yield | — | — | — | | |||
Expected volatility | 32.00 | % | 29.77% – 30.16 | % | 30.09% – 30.41 | % |
20-F
2023 FY
ZKH
ZKH Group Limited
19 Apr 24
Annual report (foreign)
6:05am
| | | | |
| | As of December 31, | ||
| | 2022 | | 2023 |
| RMB | RMB | ||
Contracted but not provided for: | | | | |
A planned factory construction project(i) | 273,083 | 173,418 | ||
Construction commitments | — | 71,395 | ||
Assets under construction | 1,725 | 45 | ||
Total | 274,808 | 244,858 |
20-F
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19 Apr 24
Annual report (foreign)
6:05am
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19 Apr 24
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19 Apr 24
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19 Apr 24
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19 Apr 24
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