ZKH Group Limited

Ladies and gentlemen, good day and welcome to ZKH Group Limited Second Quarter 2025 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Jin Li, Head of Investor Relations. Please go ahead.

Good morning and welcome to our call today. With me, I'm Mr. Eric Chen, our Founder, Chairman, and CEO. and a mixed max line, our CFO. Today's discussion may include forward-looking statements. Related factors are described in our today's press release. And we will also discuss certain non-GAAP financial measures for comparison purpose only. Please refer to the earnings release for definitions of these measures and a reconciliation of GAAP to non-GAAP results. With that, I will turn the call over to Eric. Eric, please go ahead.

大家好,欢迎各位参加政婚行2025年第二季度业绩发布会。 面对宏观经济的挑战,凭借战略定理与高效执行, 二季度我们实现了稳健的业务发展。 首先,我们平台继续保持高度活跃, The number of customers has increased by one quarter. This is due to the growth of our new customers and the continued increase in the number of old customers. Since the beginning of the second half of last year, the improvement and adjustment of the health care business has been affected. The GMV of the second quarter is 24.2 billion yuan, which has dropped significantly. If the technology of basic business adjustment is affected, our GMV will still grow significantly.