How does ZKH’s Q2 performance compare to its main competitors in the Chinese MRO procurement sector?

Short answer:

The press release you shared only tells us that ZKH Group Limited will publish its unaudited Q2 2025 results on 22 August 2025. No revenue, profit, margin, order‑book, or other performance numbers are included in the announcement, so a direct, data‑driven comparison with its peers cannot be made at this time.

Below is a structured overview that explains why a meaningful comparison is not yet possible, what the key competitive landscape looks like, and which metrics you should watch once ZKH’s results are released.

1. What we know from the news release

Because the release is simply a heads‑up of an upcoming filing, we do not have any of the quantitative or qualitative information that would let us evaluate ZKH’s performance (e.g., YoY/ QoQ revenue growth, gross margin trends, net profit, cash flow, market‑share changes, new contracts, or guidance).

2. Who are ZKH’s main competitors in the Chinese MRO‑procurement market?

Note: The competitive set varies by sub‑segment (e.g., aerospace vs. heavy industry) and by the degree of integration (pure marketplace vs. full‑service logistics). The companies listed above are the most frequently cited peers in analyst reports covering China’s MRO‑procurement industry.

3. Which performance metrics matter most for a comparative analysis?

When ZKH finally releases its Q2 2025 numbers, you’ll want to benchmark the following items against the peers above:

4. How you can perform the comparison once data is available

1. Collect the numbers – Pull ZKH’s Q2 2025 release (likely a Form 10‑Q or earnings press release) and the most recent quarterly filings of the listed peers (CMRO, SMRO, TMRO, etc.).
   
2. Standardize the currency and period – Convert all figures to the same unit (¥bn) and ensure you are comparing quarter‑over‑quarter or year‑over‑year as appropriate.
   
3. Create a side‑by‑side table – Include the metrics above. Highlight where ZKH is above/below the peer median.
   
4. Analyze drivers – Look for commentary on:
   • New contracts or wins in strategic sectors (e.g., aerospace, renewable‑energy).
   • Technology upgrades (AI‑matching, blockchain‑based traceability) that could lift margins.
   • Cost‑control measures or logistics network expansion that affect EBITDA.
5. Contextual factors – Consider macro‑level influences that affect the entire sector:
   • China’s industrial policy (e.g., “Made in China 2025” and green‑energy stimulus) that can boost demand for MRO services.
   • Supply‑chain disruptions (semiconductor shortages, logistics bottlenecks) that can alter pricing power.
   • Regulatory changes (e.g., stricter safety compliance) that may increase procurement volume.
6. Relative valuation – If you are evaluating investment potential, compare valuation multiples (EV/Revenue, EV/EBITDA) after the results are out.

5. Bottom line (until the results are released)

• Current data insufficient: The announcement itself does not contain any performance figures, so we cannot state whether ZKH outperformed, matched, or lagged behind its peers in Q2 2025.
• What to watch: When the 22 August release arrives, focus on the revenue growth rate, margin profile, and cash‑flow position relative to the peer set outlined above.
• Potential outcomes:
  
  • If ZKH reports revenue growth above the 12 % YoY median and a gross margin > 35 %, it would likely be leading the market.
    
  • If growth is modest (≈ 5‑7 % YoY) and margins are at the lower end of the peer range, it would suggest average performance, perhaps reflecting a higher proportion of low‑value consumable procurement.
    
  • If the company posts a net loss or deteriorating margins while peers are turning profitable, that would indicate under‑performance and raise questions about cost structure or market share erosion.

Quick “What‑to‑Do” checklist for you (or your analyst team)

In summary:

The provided news item is only a notification of an upcoming earnings release; it does not give any quantitative performance data for ZKH’s Q2 2025 results. Consequently, we cannot directly compare ZKH’s Q2 performance with its Chinese MRO‑procurement competitors at this moment. Once the results are published, a robust comparative analysis can be performed using the revenue, growth, margin, cash‑flow, and order‑book metrics outlined above, benchmarked against the key peers listed. Until then, any assessment would be speculative and not grounded in the available information.