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Rockwell Automation Launches EtherNet/IP In-cabinet Solution to Help Manufacturers Build Smarter, More Efficient Panels

New offering can cut wiring time by up to 80%, speeding production and innovation

MILWAUKEE, Wis., May 20, 2025 /PRNewswire/ — Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced the release of its EtherNet/IP™ In-cabinet Solution, a major advancement designed to meet the growing demand for smarter, faster and more connected manufacturing operations.

Rockwell Automation launches EtherNet/IP In-cabinet Solution to help manufacturers build smarter, more efficient panels
Rockwell Automation launches EtherNet/IP In-cabinet Solution to help manufacturers build smarter, more efficient panels

As companies strive to improve productivity and reduce downtime, traditional hard-wired control panels often stand in the way, limiting data access and complicating system upgrades. The EtherNet/IP In-cabinet Solution addresses those challenges by streamlining communications between devices with the panel, making system integration simpler, boosting real-time data access and helping manufacturers make faster, more informed decisions.

“Our EtherNet/IP In-cabinet Solution is a game-changer in industrial connectivity,” said Kelly Passineau, product manager at Rockwell Automation. “By leveraging single-pair Ethernet/IP technology, we’re helping customers reduce installation time, enhance operational efficiency and integrate wired components into a more intelligent, data-driven network.”

Early adopters are already seeing the impact. Volga, a Rockwell Systems Integrator Partner and a leading manufacturer based in Brazil specializing in electrical, mechanical and automation control, reported dramatic improvements after adopting the EtherNet/IP In-Cabinet Solution.

“The EtherNet/IP In-cabinet Solution reduced our assembly time by over 65%, enabling us to wire starters and panel operators in just over an hour,” said Carlos Leopoldo, commercial director at Volga. “Beyond the significant time savings, this system provides numerous benefits for our panel builders, including space efficiency, customizable panel operator colors, a reduction in SKUs, minimized risk of incorrect connections and more straightforward inspections. It’s a well-designed solution that enhances efficiency and reliability for both panel builders and end users who can benefit from improved communication, diagnostics and easier maintenance.”

Key benefits of this new offering include:

  • Faster Installation: When implemented in accordance with recommended standards, it can help cut wiring time by up to 80% compared to traditional hard-wired installation.
  • Optimized Space: The compact design allows for efficient use of cabinet space, enabling more devices to be installed in the same footprint and reduces overall panel size.
  • Improved Data Access: Boost productivity with quick, real-time communication between devices.
  • Scalability: Easily expand and adapt to future networking needs without major infrastructure changes.

Additionally, a plug and play design enables easy configuration, commissioning and maintenance, ultimately reducing disruptions to production schedules.

Learn more about the EtherNet/IP In-cabinet Solution on Rockwell’s website.

About Rockwell Automation
Rockwell Automation, Inc. (NYSE: ROK) is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 27,000 problem solvers dedicated to our customers in more than 100 countries as of fiscal year end 2024. To learn more about how we are bringing the Connected Enterprise® to life across industrial enterprises, visit www.rockwellautomation.com.

 

AZI Regains Compliance with Nasdaq Minimum Bid Price Requirement

BEIJING, May 20, 2025 /PRNewswire/ — Autozi Internet Technology (Global) Ltd. (Nasdaq: AZI) (“Autozi” or the “Company”), an automotive products and services company in China, today announced that it has received a written notice (the “Compliance Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) dated May 16, 2025, informing the Company that it has regained compliance with the minimum bid price requirement set forth under the Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).

As previously announced, the Company was notified by Nasdaq on February 5, 2025 that the Company’s Class A ordinary shares failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days.

According to the Compliance Notice, the Company regained compliance with the Minimum Bid Price Requirement because the closing bid price of the Company’s Class A ordinary shares has been at $1.00 per share or greater for 14 consecutive business days, from April 28 through May 15, 2025, and the matter is now closed.

About Autozi

Autozi Internet Technology (Global) Ltd. is a leading, fast-growing provider of lifecycle automotive services in China. Founded in 2010, Autozi offers a comprehensive range of high-quality, affordable, and professional automotive products and services through both online and offline channels across the country. Leveraging its advanced online supply chain cloud platform and SaaS solutions, Autozi has built a dynamic ecosystem that connects key participants across the automotive industry. This interconnected network enables more efficient collaboration and streamlined processes throughout the entire supply chain, positioning Autozi as a key driver of innovation and growth in the automotive services sector.

Contact Information

The Blueshirt Group
Jack Wang
Email: Jack@blueshirtgroup.co 

Modern Dairy Wins Six Awards in Extel’s 2025 Asia (ex-Japan) Executive Team Rankings

HONG KONG, May 20, 2025 /PRNewswire/ — On May 20, the prestigious financial magazine “Extel” (formerly “Institutional Investor”) officially announced the results of the “2025 Asia (ex-Japan) Executive Team-SMID” rankings. The survey assessed and examined companies across multiple dimensions, covering governance of the board of directors, the quality of investor relations programs, environmental, social, and governance (ESG) practices, the leadership of CEOs and CFOs, and the performance of investor relations professionals. Modern Dairy (1117 HK) demonstrated outstanding performance in the competitive field, securing six prestigious awards in the consumer staples category, including: Best Company Board, Best IR Program, Best ESG, Best CEO (Mr. Sun Yugang), Best CFO (Mr. Zhu Xiaohui), and Best IR Professional (Ms. Lo Pik Fai, Ruby).

Award

Executive

Ranking

Corporate Awards

Best Company Board

Combined 2nd, Sell Side 2nd

Best IR Program

Sell Side 2nd, Combined 3rd

Best ESG

Combined 2nd, Sell Side 2nd

Individual Awards

Best CEO

Mr. Sun Yugang

Sell Side 2nd, Combined 3rd

Best CFO

Mr. Zhu Xiaohui

Sell Side 2nd, Combined 3rd

Best IR Professional

Ms. Lo Pik Fai, Ruby

Combined 3rd, Buy Side 3rd, Sell Side 3rd

The Extel survey is globally renowned for its rigorous evaluation criteria, objective and fair selection process, and highly professional assessment system, making it a highly anticipated and authoritative event in the international capital market. This year’s survey involved 5,437 buy-side portfolio managers and analysts from 1,167 institutions with an estimated $2 trillion in Asia equities, as well as 863 sell-side analysts from 157 brokerage firms, They nominated a total of 1,668 companies and 2,367 individuals across 18 sectors. The survey systematically presents the capital market’s professional judgment on listed companies through multi-dimensional independent assessments. The results provide global investment institutions with highly valuable research data, enjoying widespread credibility in investment decision-making and investor relations management, and are regarded as an industry benchmark.

Modern Dairy’s Investor Relations team is consistently dedicated to maintaining close communication with investors through various channels, including regular earnings releases, participation in reverse roadshows, hosting investor and analyst visits, and attending investment forums. The team proactively addresses market concerns, ensuring timely and transparent disclosure. Currently, over 10 brokerage firms have initiated research coverage of the company, all of which have issued positive investment ratings. This reflects market’s focus in Modern Dairy’s future development.

While focusing on improving the quality and efficiency of its core business, Modern Dairy prioritises the comprehensive integration and innovative practice of ESG principles. Guided by its sustainable development strategy “FRESH,” the company collaborates with global partners to build a green supply chain and actively leads the industry’s sustainable development efforts. Notably, MSCI, a leading global index company, released its latest rating report in May, upgrading Modern Dairy’s ESG rating from BBB to A, ranking it first in the Chinese animal husbandry industry. This achievement underscores the company’s outstanding performance in the field of sustainable development.

Modern Dairy is deeply honored to receive the trust and support from capital market professionals and authoritative institutions, viewing it as an affirmation of the effectiveness of its investor relations management efforts. Moving forward, the company will continue to improve its modern corporate governance system, actively promote the implementation of its ESG strategy, and further deepen its efficient interaction with the capital market.

Cannes Premiere: Lenovo Shines Spotlight on Chinese Wildlife Conservation Innovation with Lu Chuan’s Qinghai-Tibet Plateau Wildlife Park

CANNES, France, May 20, 2025 /PRNewswire/ — Lenovo Group and renowned Chinese film director Lu Chuan today premiered the documentary Qinghai-Tibet Plateau Wildlife Park at the 78th Cannes Film Festival. Highlighting China’s innovation in wildlife conservation, the documentary showcases the beauty of plateau wildlife and the unique approach to conservation rooted in traditional Eastern wisdom. Upon its debut, the film received unanimous acclaim at Cannes.

Lu Chuan at Cannes Wildlife & Cinema Seminar
Lu Chuan at Cannes Wildlife & Cinema Seminar

Alongside the screening, a seminar was held exploring the importance of wildlife documentaries in raising awareness for environmental issues. The seminar brought together environmental advocates, filmmakers, and technology specialists from around the world to engage in discussions about the film’s portrayal of China’s pioneering wildlife conservation practices at the Qinghai-Tibet Plateau Wildlife Park (QWP) known as the QWP Model.

Among the attendees was Greg Reitman, widely regarded as Hollywood’s “Green Filmmaker”, stating: “My filmmaking is fueled by a passion for spotlighting environmental issues and driving positive change. The film Qinghai-Tibet Plateau Wildlife Park has inspired me — AI serves as a bridge, enabling us to monitor wildlife non-invasively and guiding us toward a future of living in harmony with all beings through respect and protection.”

The QWP Model focuses on providing comprehensive care for injured wildlife, using technology to assess their potential for survival in the wild, and prioritizing their reintroduction to natural habitats. The distinct conservation philosophy stems from local beliefs in the cycle of reincarnation, where all spirits – humans, animals, and plants – can be reborn as another, making all life forms equal and deserving of the same respect and care.

By integrating cutting-edge AI into the park’s operations, Lenovo has built the first AI Park on the plateau, transforming how conservationists research, rescue, and rehabilitate wildlife on the plateau. Key applications include using AI to recognize indicative wildlife behaviors for advanced care, to collect and analyze real-time data for improved reintroduction strategies, and to automatically document medical records for long-term research.

More than a cinematic triumph, Qinghai-Tibet Plateau Wildlife Park’s Cannes debut shows how Chinese conservation philosophies, powered by Lenovo AI, offer a unique solution to global ecological challenges. As part of Lenovo’s commitment to ‘Smarter AI for All’, this collaboration strives to utilize AI to build a more sustainable coexistence between humans and nature.

MiTAC Computing Democratizes AI at COMPUTEX 2025

TAIPEI, May 20, 2025 /PRNewswire/ — At COMPUTEX 2025, MiTAC Computing Technology Corporation, a leading server platform designer and manufacturer and a subsidiary of MiTAC Holdings Corporation (TSE:3706), drives innovation in AI, High-Performance Computing (HPC), cloud, and enterprise data center solutions at COMPUTEX. MiTAC will showcase high-density AI and GPU servers featuring Broadcom PCIe switches, NICs and RAID adapters.

MiTAC Computing and Broadcom's Joint Innovation Showcase
MiTAC Computing and Broadcom’s Joint Innovation Showcase

“Broadcom’s high-performance NICs, PCIe switches, and RAID technologies have helped us deliver flexible server solutions that power next-generation computing,” said Rick Hwang, President of MiTAC Computing Technology Corp. “Our ongoing collaboration ensures that customers—from research institutes to mid-sized enterprises—can adopt AI and HPC more efficiently and cost-effectively.”

“Broadcom is pleased to support the MiTAC AI and HPC demonstrations at COMPUTEX with our broad portfolio of connectivity solutions,” said Jas Tremblay, vice president and general manager of the Data Center Solutions Group, Broadcom. “We understand the importance of democratizing AI by expanding access to accelerated computing across the industry and open ecosystem. MiTAC’s AI platforms are designed to provide the scalability, speed, and reliability needed to meet the demands of today’s advanced data-driven workloads.”

At the center of the COMPUTEX showcase are two platforms designed to meet the demands of modern AI and HPC:

  • MiTAC G8825Z5 – A high-density AI server built for large-scale training workloads, leveraging 4 Broadcom PEX89104 PCIe 5.0 switches, and a mix of 8 Broadcom P1400GD (E-W) and 4 P2200GD (N-S) high-speed NICs to deliver ultra-fast GPU communication and optimized AI throughput.
  • MiTAC G4520G6 – A powerful 4U GPU server tailored for HPC and AI tasks, featuring 2 Broadcom PEX89104 PCIe 5.0 switches and Broadcom RAID solutions to ensure performance, reliability, and seamless GPU scalability for compute- and data-intensive workloads.

MiTAC’s flexible system architectures, featuring Broadcom’s scalable interconnect and storage solutions will empower organizations of all sizes – from enterprise IT to research institutions – to deploy powerful AI and HPC systems without the high cost or complexity traditionally associated with them.

Visit MiTAC Computing at COMPUTEX 2025 – Booth M1110

Experience MiTAC Computing’s Broadcom-enabled product lineup and talk with solution experts.

Explore more: https://www.mitaccomputing.com/en/campaign/computex2025

About MiTAC Computing Technology Corporation

MiTAC Computing Technology Corp., a subsidiary of MiTAC Holdings, delivers comprehensive, energy-efficient server solutions backed by industry expertise dating back to the 1990s. Specializing in AI, HPC, cloud, and edge computing, MiTAC Computing employs rigorous methods to ensure uncompromising quality not just at the barebone level but more importantly, at the system and rack levels—where true performance and integration matter most. This commitment to quality at every level sets MiTAC Computing apart from others in the industry. The company provides tailored platforms for hyperscale data centers, HPC, and AI applications, guaranteeing optimal performance and scalability.

With a global presence and end-to-end capabilities—from R&D and manufacturing to global support—MiTAC Computing offers flexible, high-quality solutions designed to meet unique business needs. Leveraging the latest advancements in AI and liquid cooling, along with the recent integration of Intel DSG and TYAN server products, MiTAC Computing stands out for its innovation, efficiency, and reliability, empowering businesses to tackle future challenges.

Visit our corporate website: https://www.mitaccomputing.com/

Storage Meets AI at COMPUTEX 2025: Lexar Introduces Innovative Product Lines

TAIPEI, May 20, 2025 /PRNewswire/ — Lexar, a leading global brand in storage solutions, is showcasing its innovations at Computex 2025, held from May 20 to 23 at the Taipei Nangang Exhibition Center. Under the theme “Storage Meets AI,” Lexar is featured alongside Longsys Group at booth J1 211a, 1F, Hall 1.

As AI becomes more integrated into everyday life, users are increasingly focused on the capabilities of storage products. Lexar’s offerings are renowned for their large capacity, high-speed performance, and dependable quality, effectively catering to the needs of PC enthusiasts, gamers, and professional creators.

Deeply Engaged with Gamers

Lexar showcased a series of products specifically designed for gamers. The Lexar ARES RGB 2nd Gen DDR5 Desktop Memory, featuring premium SK Hynix DRAM chips, offers high speeds of up to 8000MT/s, and 6000MT/s with a timing of CL26. Lexar Ares series teamed up with AMD and Gigabyte’s high-end product series to form a high-performance PC hardware combination – ‘AAA’ gear for AAA gaming.

Lexar’s ARES RGB 2nd Gen DDR5 memory modules—specifically the 16GB (7200 MT/s) and 24GB (8000 MT/s) versions—are compatible with Intel’s 200S Boost initiative, which maximizes processor performance. These modules comply with the Overclocking Profile standard, ensuring high quality and reliability.

For internal SSDs, Lexar showcased two next-generation SSDs: the Lexar Professional NM990 PCIe Gen5.0 NVMe M.2 2280 SSD and the Lexar Professional NM1090 PRO PCIe Gen5.0 NVMe M.2 2280 SSD. Both can provide exceptional performance of up to 14GB/s read speed and are perfect for gaming and professional rendering.

In addition, Lexar also showcased the recently released PLAY PRO microSD Express memory card, which is ideal for the latest handheld gaming console.

More for Professional Creators

For professional creators, Lexar continuously offers innovative products to meet their demands. Among these is the new Lexar NFC Encryption Portable SSD. This SSD utilizes Lexar’s self-developed control chip and features NFC technology that requires unlocking for recognition, optimizing power dissipation and enhancing transmission stability while comprehensively protecting user privacy.

Lexar also showcased the Go Portable SSD with Hub, which enables content creators to shoot seamless video directly from their mobile phones. It successfully garnered over $1 million in user pledges on Kickstarter and raised nearly 12 million TWD on Zeczec, a crowdfunding platform in Taiwan.

Completing its offerings for photography enthusiasts, Lexar presents pexar digital picture frames. Available in both 15.6″ and 11″ sizes, these frames allow users to upload and showcase their favorite photos and videos from afar. They feature anti-glare touch screens for enhanced viewing and effortless setup. Each frame includes 32GB of built-in Lexar storage, capable of holding up to 40,000 photos, with the option to expand storage via a USB flash drive or SD card. Additionally, the 11″ frame boasts a stunning 2K resolution display.

Media kit

Press images: https://www-oss.lexar.com/lexar/files/PR/COMPUTEX2025_press_images.zip 

About Lexar

For more than 29 years, Lexar has been trusted as a leading global brand of memory solutions. Our award-winning lineup includes memory cards, USB Flash Drives, card readers, solid-state drives, and DRAM. With so many options, it’s easy to find the right Lexar solution to fit your needs. For more information, please visit lexar.com and follow us on Instagram, Facebook and LinkedIn.

ZKH Group Limited Announces First Quarter 2025 Unaudited Financial Results

SHANGHAI, May 20, 2025 /PRNewswire/ — ZKH Group Limited (“ZKH” or the “Company”) (NYSE: ZKH), a leading maintenance, repair and operations (“MRO”) procurement service platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Operational and Financial Highlights 

in thousand RMB, except for number of

customers, percentage and basis points (“bps”)

First Quarter

2024

2025

Change

GMV[1]

2,348,640

2,171,997

-7.5 %

GMV by Platform

    ZKH Platform

2,137,614

1,966,210

-8.0 %

    GBB Platform

211,026

205,787

-2.5 %

GMV by Business Model

    Product Sales (1P)

1,775,732

1,901,196

7.1 %

    Marketplace (3P)[2]

572,908

270,800

-52.7 %

Number of Customers[3]

46,135

60,102

30.3 %

    ZKH Platform

31,706

35,135

10.8 %

    GBB Platform

14,429

24,967

73.0 %

Net Revenues

1,860,409

1,935,372

4.0 %

Gross Profit

334,076

332,118

-0.6 %

    % of Net Revenues

18.0 %

17.2 %

-79.7bps

Operating Loss

(129,613)

(80,813)

-37.7 %

    % of Net Revenues

-7.0 %

-4.2 %

279.1bps

Non-GAAP EBITDA[4]

(70,048)

(51,959)

-25.8 %

    % of Net Revenues

-3.8 %

-2.7 %

108.0bps

Net Loss

(90,901)

(66,723)

-26.6 %

    % of Net Revenues

-4.9 %

-3.4 %

143.9bps

Non-GAAP Adjusted Net Loss[5]

(43,459)

(50,176)

15.5 %

    % of Net Revenues

-2.3 %

-2.6 %

-25.7bps

Mr. Eric Long Chen, Chairman and Chief Executive Officer of ZKH, stated, “Our robust first-quarter performance in 2025 underscores our leadership position in the MRO industry and clearly demonstrates our path towards profitability. We have achieved significant momentum in our international expansion, particularly in the U.S., where both revenue and customer base have nearly doubled each month since January 2025. Looking ahead, our international growth efforts will prioritize enriching our product offerings and enhancing our supply chain capabilities overseas. Simultaneously, integrating digitalization and big data analytics empowers us to better anticipate and address evolving customer needs, fostering top-line growth, operational efficiency, and workforce productivity. We remain committed to investing in our products, supply chain, AI capabilities, and global footprint to drive sustainable growth and reinforce our industry leadership.”

Mr. Max Chun Chiu Lai, Chief Financial Officer of ZKH, added, “We are pleased with our solid financial results this quarter, as our focus on high-quality revenue streams and operational efficiencies continued to yield positive results. Our business quality has strengthened, as reflected in the year-over-year growth of both our product sales model’s gross margin and our marketplace model’s take rate. Notably, our net operating loss margin and net loss margin narrowed by 279.1 and 143.6 basis points, respectively. With a strong cash position, continuously disciplined execution and improving profitability trajectory, we are confidently positioned for long-term value creation and enhanced returns for our shareholders.”

[1] GMV is the total transaction value of orders placed on the Company’s platform and shipped to customers, excluding taxes, net of the returned amount.

[2] The proportion of GMV generated by the marketplace model was 24.4% and 12.5% for the first quarter of 2024 and 2025, respectively.

[3] Customers are customers that transacted with the Company during the reporting period, mainly comprised of enterprise customers in various industries.

[4] Non-GAAP EBITDA is defined as net loss before interest expenses, income tax expenses/(benefits) and depreciation and amortization expenses.

[5] Non-GAAP adjusted net loss is defined as net loss excluding share-based compensation expenses.

First Quarter 2025 Financial Results

Net Revenues. Net revenues were RMB1,935.4 million (US$266.7 million), representing an increase of 4.0% from RMB1,860.4 million in the same period of 2024. This growth was mainly attributable to an increase in revenues from the product sales model, partially offset by a decrease in revenues from the marketplace model due to the prior year’s high base, which included low-margin businesses with long customer credit terms that have since been optimized.

in thousand RMB, except for percentage

First Quarter

2024

2025

Change

Net Revenues

1,860,409

1,935,372

4.0 %

    Net Product Revenues

1,775,019

1,884,860

6.2 %

        From ZKH Platform

1,563,502

1,679,343

7.4 %

        From GBB Platform

211,517

205,517

-2.8 %

    Net Service Revenues

66,654

37,894

-43.1 %

    Other Revenues

18,736

12,618

-32.7 %

  • Net Product Revenues. Net product revenues were RMB1,884.9 million (US$259.7 million), representing an increase of 6.2% from RMB1,775.0 million in the same period of 2024, primarily due to an increase in revenues from the product sales model.

  • Net Service Revenues. Net service revenues were RMB37.9 million (US$5.2 million), a decrease of 43.1% from RMB66.7 million in the same period of 2024, primarily due to the prior year’s high base, which included revenues from low-margin businesses with long customer credit terms under the marketplace model that have since been  optimized.
  • Other Revenues. Other revenues were RMB12.6 million (US$1.7 million), a decrease of 32.7% from RMB18.7 million in the same period of 2024, mainly due to lower revenues from warehousing and logistic services, as well as operating lease services for certain types of machinery and equipment.

Cost of Revenues. Cost of revenues was RMB1,603.3 million (US$220.9 million), representing an increase of 5.0% from RMB1,526.3 million in the same period of 2024. The increase was outpaced by the growth in product revenues, mainly due to the effectiveness of the Company’s initiatives to reduce overall product procurement costs.

Gross Profit and Gross Margin. Gross profit was RMB332.1 million (US$45.8 million), representing a decrease of 0.6% from RMB334.1 million in the same period of 2024. Gross margin was 17.2%, compared with 18.0% in the same period of 2024. The decrease was mainly due to lower revenue contribution from the marketplace model, which yields a 100% gross margin, while both the gross margin of the product sales model and the take rate of the marketplace model increased, driven by business optimization and higher proportion of GMV from higher-margin private label products. 

in thousand RMB, except for percentage and

basis points (“bps”)

First Quarter

2024

2025

Change

Gross Profit

334,076

332,118

-0.6 %

    % of Net Revenues

18.0 %

17.2 %

-79.7bps

    Under Product Sales (1P)

        ZKH Platform

250,326

278,618

11.3 %

            % of Net Product Revenues from ZKH Platform

16.0 %

16.6 %

58.0bps

        GBB Platform

11,630

12,687

9.1 %

            % of Net Product Revenues from GBB Platform

5.5 %

6.2 %

67.5bps

    Under Marketplace (3P)

66,654

37,894

-43.1 %

        % of Net Service Revenues

100.0 %

100.0 %

        % of GMV from the Marketplace Model (Take Rate)

11.6 %

14.0 %

235.9bps

    Others

5,466

2,918

-46.6 %

        % of Other Revenues

29.2 %

23.1 %

-604.8bps

Operating Expenses. Operating expenses were RMB412.9 million (US$56.9 million), a decrease of 10.9% from RMB463.7 million in the same period of 2024, with decreases across all categories of operating expenses. Operating expenses as a percentage of net revenues were 21.3%, compared with 24.9% in the same period of 2024. Excluding share-based compensation expenses, operating expenses as a percentage of net revenues were 20.5%, compared with 22.4% in the same period of 2024.

  • Fulfillment Expenses. Fulfillment expenses were RMB93.3 million (US$12.9 million), a decrease of 4.2% from RMB97.3 million in the same period of 2024. The decrease was primarily attributable to lower employee benefit expenses and warehouse rental costs. Fulfillment expenses as a percentage of net revenues were 4.8%, compared with 5.2% in the same period of 2024.
  • Sales and Marketing Expenses. Sales and marketing expenses were RMB136.8 million (US$18.9 million), a decrease of 16.6% from RMB164.1 million in the same period of 2024. The decrease was primarily attributable to lower employee benefit expenses and travel expenses. Sales and marketing expenses as a percentage of net revenues were 7.1%, compared with 8.8% in the same period of 2024.
  • Research and Development Expenses. Research and development expenses were RMB39.6 million (US$5.5 million), a decrease of 0.6% from RMB39.8 million in the same period of 2024. The decrease was primarily attributable to lower employee benefit expenses, partially offset by higher expenses related to technology and information services, such as cloud services. Research and development expenses as a percentage of net revenues were 2.0%, compared with 2.1% in the same period of 2024.
  • General and Administrative Expenses. General and administrative expenses were RMB143.2 million (US$19.7 million), a decrease of 11.8% from RMB162.4 million in the same period of 2024. The decrease was primarily attributable to lower share-based compensation expenses, partially offset by higher employee benefit expenses. General and administrative expenses as a percentage of net revenues were 7.4%, compared with 8.7% in the same period of 2024.

Loss from Operations. Loss from operations was RMB80.8 million (US$11.1 million), compared with RMB129.6 million in the same period of 2024. Operating loss margin was 4.2%, compared with 7.0% in the same period of 2024.

Non-GAAP EBITDA. Non-GAAP EBITDA was negative RMB52.0 million (US$7.2 million), compared with negative RMB70.0 million in the same period of 2024. Non-GAAP EBITDA margin was negative 2.7%, compared with negative 3.8% in the same period of 2024.

Net Loss. Net loss was RMB66.7 million (US$9.2 million), compared with RMB90.9 million in the same period of 2024. Net loss margin was 3.4%, compared with 4.9% in the same period of 2024.

Non-GAAP Adjusted Net Loss. Non-GAAP adjusted net loss was RMB50.2 million (US$6.9 million), compared with RMB43.5 million in the same period of 2024. Non-GAAP adjusted net loss margin was 2.6%, compared with 2.3% in the same period of 2024.

Basic and Diluted Net Loss per ADS[6] and Non-GAAP Adjusted Basic and Diluted Net Loss per ADS[7]Basic and diluted net loss per ADS were RMB0.41 (US$0.06), compared with RMB0.56 in the same period of 2024. Non-GAAP adjusted basic and diluted net loss per ADS were RMB0.31 (US$0.04), compared with RMB0.27 in the same period of 2024.

[6] ADSs are American depositary shares, each of which represents thirty-five (35) Class A ordinary shares of the Company.

[7] Non-GAAP adjusted basic and diluted net loss per ADS is a non-GAAP financial measure, which is calculated by dividing non-GAAP adjusted net loss attributable to the Company’s ordinary shareholders by the weighted average number of ADSs.

Balance Sheet and Cash Flow

As of March 31, 2025, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB1.80 billion (US$248.1 million), compared with RMB2.06 billion as of December 31, 2024.

Net cash used in operating activities was RMB97.1 million (US$13.4 million) in the first quarter of 2025, compared with RMB224.3 million in the same period of 2024.

Exchange Rate

This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB7.2567 to US$1.00, the exchange rate in effect as of March 31, 2025, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.

Conference Call Information

The Company’s management will hold a conference call on Tuesday, May 20, 2025, at 8:00 A.M. U.S. Eastern Time or 8:00 P.M. Beijing Time to discuss its financial results and operating performance for the first quarter of 2025.

United States (toll free):

+1-888-317-6003

International:

+1-412-317-6061

Mainland China (toll free):

400-120-6115

Hong Kong (toll free):

800-963-976

Hong Kong:

+852-5808-1995

Access Code:

0116526

The replay will be accessible through May 27, 2025 by dialing the following numbers:

United States:

+1-877-344-7529

International:

+1-412-317-0088

Replay Access Code:

1341836

A live and archived webcast of the conference call will also be available on the Company’s investor relations website at https://ir.zkh.com.

About ZKH Group Limited

ZKH Group Limited (NYSE: ZKH) is a leading MRO procurement service platform in China, underpinned by robust supply chain capabilities and dedicated to serving customers globally through a product-led, agentic AI-driven approach. Through its primary online platforms, the ZKH platform and the GBB platform, along with innovative technology and extensive industry expertise, the Company provides bespoke MRO procurement solutions to a diverse and loyal customer base. These solutions encompass hyper-personalized product curation from a comprehensive selection of quality products at competitive prices. Additionally, the Company ensures timely and reliable product delivery through professional fulfillment services. By focusing on reducing procurement costs and addressing management efficiency challenges, ZKH is transforming the opaque MRO procurement process and empowering all stakeholders across the value chain.

For more information, please visit: https://ir.zkh.com.

Use of Non-GAAP Financial Measures

This press release contains the following non-GAAP financial measures: non-GAAP adjusted net loss, non-GAAP adjusted net loss per ADS, basic and diluted, and non-GAAP EBITDA. The non-GAAP financial measures should not be considered in isolation from or construed as alternatives to their most directly comparable financial measures prepared in accordance with accounting principles generally accepted in the United States of America. Investors are encouraged to review the historical non-GAAP financial measures in reconciliation to their most directly comparable GAAP financial measures.

The Company defines non-GAAP adjusted net loss for a specific period as net loss in the same period excluding share-based compensation expenses. The Company defines non-GAAP EBITDA as net loss before interest expenses, income tax expenses/(benefits) and depreciation and amortization expenses. Non-GAAP adjusted net loss per ADS is calculated by dividing adjusted net loss attributable to the Company’s ordinary shareholders by the weighted average number of ordinary shares outstanding during the periods and then multiplied by 35.

The Company presents these non-GAAP financial measures because they are used by the management to evaluate the Company’s operating performance and formulate business plans. The Company believes that these non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that are included in net loss and certain expenses that are not expected to result in future cash payments or that are non-recurring in nature. The Company also believes that the use of these non-GAAP financial measures facilitates investors’ assessment of its operating performance, enhances the overall understanding of its past performance and future prospects and allows for greater visibility with respect to key metrics used by the management in financial and operational decision making.

The non-GAAP financial measures have material limitations as analytical metrics and may not be calculated in the same manner by all companies. The Company’s non-GAAP financial measures do not include all income and expense items that affect the Company’s operations. They may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider the non-GAAP financial measures as substitutes for, or superior to, their most directly comparable financial measures prepared in accordance with GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of Non-GAAP Results” set forth at the end of this press release.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aim,” “estimates,” “intends,” “plans,” “believes,” “is/are likely to,” “potential,” “continue,” and similar statements. Among other things, the quotations from management in this press release and ZKH’s strategic and operational plans contain forward-looking statements. ZKH may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press release and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ZKH’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: ZKH’s mission, goals and strategies; ZKH’s future business development, financial condition and results of operations; the expected changes in its revenues, expenses or expenditures; the expected growth of the MRO procurement service industry in China and globally; changes in customer or product mix; ZKH’s expectations regarding the prospects of its business model and the demand for and market acceptance of its products and services; ZKH’s expectations regarding its relationships with customers, suppliers, and service providers on its platform; competition in the Company’s industry; government policies and regulations relating to ZKH’s industry; general economic and business conditions in China and globally; the outcome of any current and future legal or administrative proceedings; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in ZKH’s filings with the SEC. All information provided herein is as of the date of this announcement, and ZKH undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

ZKH Group Limited
IR Department
E-mail: IR@zkh.com

Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: zkh@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: zkh@thepiacentegroup.com

 

ZKH GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except share, ADS, per share and per ADS data)

As of
December 31,

As of
March 31,

2024

2025

RMB

RMB

US$

Assets

Current assets:

Cash and cash equivalents

1,423,943

1,136,052

156,552

Restricted cash 

92,939

116,183

16,010

Short-term investments

543,978

547,959

75,511

Accounts receivable (net of allowance
   for credit losses of RMB145,789 and
   RMB144,038 as of December 31,
   2024 and March 31, 2025,
   respectively)

3,090,323

2,808,599

387,035

Notes receivable

234,213

217,535

29,977

Inventories 

625,390

723,769

99,738

Prepayments and other current assets

179,387

177,261

24,427

Total current assets

6,190,173

5,727,358

789,250

Non-current assets:

Property and equipment, net

183,572

181,526

25,015

Land use right

10,808

10,751

1,482

Operating lease right-of-use assets, net

179,945

157,280

21,674

Intangible assets, net

15,931

14,169

1,953

Goodwill

30,807

30,807

4,245

Total non-current assets

421,063

394,533

54,369

Total assets

6,611,236

6,121,891

843,619

Liabilities

Current liabilities:

Short-term borrowings

311,000

160,790

22,157

Current portion of long-term borrowings 

997

1,153

159

Accounts and notes payable

2,553,396

2,311,127

318,482

Operating lease liabilities

81,379

68,828

9,485

Advance from customers

27,433

26,570

3,661

Accrued expenses and other current
   liabilities

365,333

350,718

48,330

Derivatives

476

66

Total current liabilities

3,339,538

2,919,662

402,340

Non-current liabilities:

Long-term borrowings

38,887

43,803

6,036

Non-current operating lease liabilities

109,096

97,382

13,420

Other non-current liabilities

25,224

23,966

3,302

Total non-current liabilities

173,207

165,151

22,758

Total liabilities

3,512,745

3,084,813

425,098

ZKH Group Limited shareholders’ equity:

Ordinary shares (USD0.0000001 par value;
   500,000,000,000 and 500,000,000,000
   shares authorized; 5,658,952,794 and
   5,658,952,794 shares issued and
   outstanding as of December 31, 2024 and
   March 31, 2025, respectively)

4

4

1

Additional paid-in capital

8,305,304

8,325,626

1,147,302

Statutory reserves

6,303

6,303

869

Accumulated other comprehensive income

4,764

1,756

242

Accumulated deficit

(5,177,126)

(5,243,849)

(722,622)

Treasury stock

(40,758)

(52,762)

(7,271)

Total ZKH Group Limited shareholders’
      equity

3,098,491

3,037,078

418,521

Total liabilities and shareholders’ deficit

6,611,236

6,121,891

843,619

 

 

ZKH GROUP LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS

(All amounts in thousands, except share, ADS, per share and per ADS data)

For the three months ended

March 31,

2024

March 31, 2025

RMB

RMB

US$

Net revenues

Net product revenues

1,775,019

1,884,860

259,741

Net service revenues

66,654

37,894

5,222

Other revenues

18,736

12,618

1,739

Total net revenues

1,860,409

1,935,372

266,702

Cost of revenues

(1,526,333)

(1,603,254)

(220,934)

Operating expenses

Fulfillment

(97,348)

(93,307)

(12,858)

Sales and marketing

(164,113)

(136,835)

(18,856)

Research and development   

(39,836)

(39,613)

(5,459)

General and administrative

(162,392)

(143,176)

(19,730)

Loss from operations

(129,613)

(80,813)

(11,135)

Interest and investment income

18,054

13,279

1,830

Interest expense

(5,695)

(2,350)

(324)

Others, net

26,441

3,408

470

Loss before income tax 

(90,813)

(66,476)

(9,159)

Income tax expenses

(88)

(247)

(34)

Net loss attributable to ZKH Group
      Limited’s ordinary shareholders

(90,901)

(66,723)

(9,193)

Net loss

(90,901)

(66,723)

(9,193)

Other comprehensive loss:

Foreign currency translation adjustments

(3,350)

(3,008)

(415)

Total comprehensive loss
        attributable to ZKH Group Limited’s
        ordinary shareholders

(94,251)

(69,731)

(9,608)

Net loss per ordinary share attributable
      to ordinary shareholders

Basic and diluted

(0.02)

(0.01)

(0.00)

Weighted average number of shares 

Basic and diluted

5,730,448,966

5,695,083,577

5,695,083,577

Net loss per ADS attributable to
      ordinary shareholders

Basic and diluted

(0.56)

(0.41)

(0.06)

Weighted average number of ADS (35
      Class A ordinary shares equal to 1
      ADS)

Basic and diluted

163,727,113

162,716,674

162,716,674

 

 

ZKH GROUP LIMITED

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except share, ADS, per share and per ADS data)

For the three months ended

March 31, 2024

March 31, 2025

RMB

RMB

US$

Net loss

(90,901)

(66,723)

(9,193)

Income tax expenses

88

247

34

Interest expenses

5,695

2,350

324

Depreciation and amortization expense

15,070

12,167

1,677

Non-GAAP EBITDA

(70,048)

(51,959)

(7,158)

For the three months ended

March 31, 2024

March 31, 2025

RMB

RMB

US$

Net loss

(90,901)

(66,723)

(9,193)

Add: 

Share-based compensation expenses

47,442

16,547

2,280

Non-GAAP adjusted net loss

(43,459)

(50,176)

(6,914)

Non-GAAP adjusted net loss
      attributable to ordinary
      shareholders per share

Basic and diluted

(0.01)

(0.01)

(0.00)

Weighted average number of ordinary
      shares

Basic and diluted

5,730,448,966

5,695,083,577

5,695,083,577

Non-GAAP adjusted net loss
      attributable to ordinary
      shareholders per ADS

Basic and diluted

(0.27)

(0.31)

(0.04)

Weighted average number of ADS (35
      Class A ordinary shares equal to 1  
      ADS)

Basic and diluted

163,727,113

162,716,674

162,716,674

 

BioFlag Showcases Innovative Probiotic Solutions at Vitafoods Europe 2025

BARCELONA, Spain, May 20, 2025 /PRNewswire/ — BIOFLAG CO.,LTD.(Bioflag), a leading probiotic enterprise located in China, proudly unveiled its scientifically validated functional probiotic solutions at Vitafoods Europe 2025, drawing high attention from global media.

At the event, BioFlag highlighted its cutting-edge products, including clinically-proven probiotic strains and finished probiotic products targeting gut health, immune regulation, metabolic health, weight management, oral care, and emotional well-being. The company also introduced customized probiotic solutions tailored to meet stringent European and American standards.

Key innovations include:

Bifidobacterium animalis subsp. lactis BL-99, sourced from their Chinese maternal-infant probiotic strain library. BL-99 holds 12 Chinese invention patents covering gut health, immune regulation, and bone health, and is widely used in infant formula, yogurt, and dietary supplements.

Lactobacillus paracasei K56, isolated from the gut of healthy Chinese infants and clinically proven to reduce body fat, visceral fat, and waist circumference[1]. This strain has received 9 Chinese invention patents and is supported by 12 published research studies.

Bifidobacterium animalis subsp. lactis CP-9, derived from the breast milk of healthy Chinese mothers, patented in China for anti-obesity effects and the treatment or prevention of jaundice.

As a representative of China’s probiotics industry, BIOFLAG CO.,LTD. has demonstrated its its full industrial chain capabilities:

  • A proprietary library of over 3,500 strains and 30+ functional screening platforms
  • More than 130 patents granted and 100+ scientific papers published
  • International certifications including GMP, FSSC22000 and HALAL
  • Production capacity spanning powders, tablets, capsules, and other dosage forms

During the exhibition, BIOFLAG CO.,LTD. reached cooperation intentions with dozens of enterprises and institutions from Europe, North America and other places. A company spokesperson stated, “Drawing on nearly two decades of expertise in functional probiotics, we remain committed to driving innovation in R&D and intelligent manufacturing to deliver superior health solutions to our global customers.”

For more information, visit: https://en.bioflag.com/

[1] Kadeer G, Fu W, He Y,  et al. Effect of different doses of Lacticaseibacillus paracasei K56 on body fat and metabolic parameters in adult individuals with obesity: a pilot study[J]. Nutr Metab. 2023, 20(1): 16.