ZKH Group Limited

ladies and gentlemen good day and welcome to zkh group limited's first quarter 2026 earnings conference call today's conference is being recorded at this time i would like to turn the conference over to daisy shu head of investor relations please go ahead ma'am good morning and welcome to zkx first quarter of 2026 earnings conference court with me are miss eric chen

our founder, Chairman and CEO, and Mr. Max Lai, 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 purposes only. Please refer to the earning relief 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.

Hello, everyone. Welcome to the first quarter of the first quarter of the first quarter of the first quarter of the first quarter of the first quarter of the first quarter of the first quarter of the first quarter of the first quarter The overall GMV and revenue of the company achieved the same rate of growth in the second consecutive quarter. Among them, GMV returned to the double-digit growth period, and the growth rate has been rising in recent several quarters. In terms of profit, the company's business quality continues to optimize, and the profit margin has been increased gradually. Due to the trend of steady improvement, it is able to operate economically, organize efficiency improvement, and further release the business leverage effect. In the first quarter, by adjusting the net profit at the same level, greatly improved by 103%, and the first time to achieve the profit after adjustment in the first quarter. The first quarter is usually the traditional stage of the ML industry. During this period, the growth and overall profit of GMV double-digit can be achieved, and it gradually strengthens our confidence in achieving the growth and profit of GMV double-digit throughout the year. In terms of cash flow, Hello, everyone.