震坤行2024一季报：GMV23.5亿上百家供应商加入海外业务

李佳晅 2024-05-21 21:33

李佳晅 2024/05/21 21:33

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本文是国内MRO采购服务平台震坤行2024年第一季度财报的核心信息汇总，整理了核心业绩与业务布局的关键干货如下：

1.核心业绩数据：一季度震坤行GMV达23.5亿元，净收入18.6亿元，毛利率从去年同期的17.1%提升至18%，调整后净亏损收窄至2.3%，已经连续八个季度实现亏损率同比改善，盈利能力持续增强。

2.业务增长情况：当期服务客户超4.6万家，客户数同比增长29%，线上获客数量同比增长103%，创下单季历史新高；旗下服务中小客户的工邦邦平台，客户数同比增长63.2%，GMV同比增长28.6%。

3.最新业务布局：上海青浦落成9600平方米的紧固件智能仓库，同时加快推进美国出海业务，目前已有上百家供应商加入出海项目。

这份财报为MRO领域的品牌商提供了明确的行业趋势参考与业务拓展方向，核心干货内容如下：

1.行业与消费趋势：当前中国MRO市场整体规模仍然较大，具备长期发展空间；下游需求端新能源汽车、化工、食品、物业文旅等行业增长势头较好，传统汽车、矿业、钢铁煤炭等行业需求承压；产品端胶黏剂、润滑油、工厂自动化类工业产品增长较快。

2.渠道拓展机会：震坤行作为头部MRO平台正在开拓海外业务，开放供应商合作，目前已经吸引上百家供应商加入，品牌商可借助其出海通道对接海外市场，拓展新的增长空间。

3.经营优化参考：加大数字化、智能化投入，提升产品竞争力与运营效率，可持续改善盈利能力，数字化营销与线上获客已经成为当前行业重要的获客方式，值得品牌商跟进布局。

这份财报披露了MRO工业用品领域的最新市场变化与业务机会，对相关卖家经营有较高参考价值，核心干货如下：

1.市场增长机会：行业层面新能源汽车、化工、食品、物业文旅是当前高增长赛道，产品层面胶黏剂、润滑油、工厂自动化、工具耗材等工业产品需求增长较快；服务中小企业、拓展海外市场都是当前明确的新增长方向。

2.可借鉴经营经验：通过优化组织结构、控制成本、提升运营效率，可实现盈利能力的持续改善；加大数字化营销与线上获客的投入，可实现获客规模的高速增长，符合当前行业获客趋势。

3.风险与机会提示：当前外部环境不确定性较强，传统汽车、矿业、钢铁煤炭等行业需求承压，卖家需要避免对相关领域的过度投入；同时可以借助震坤行的出海通道，低成本拓展海外市场，挖掘新需求。

震坤行作为国内头部MRO采购服务平台，其一季度财报披露的信息对生产工厂有不少参考价值，核心干货如下：

1.商业合作机会：当前国内MRO市场整体规模较大，下游新能源汽车、化工等多个行业需求稳定增长，工厂可对接震坤行平台拓展To B销售渠道，也可针对热门赛道调整产品布局，还可以加入震坤行的出海业务，借助其出海通道拓展美国等海外市场。

2.数字化升级启示：震坤行已经落地9600平方米的自动化智能紧固件仓库，投用后可提升30%人效、100%存储利用率，节省70%的传统叉车设备使用，可见供应链端布局数字化智能化可以大幅提升运营效率，工厂可参考该模式推进自身数字化升级。

3.产品需求方向：当前市场对工具、胶黏剂、物料搬运、自动化配件等品类需求增长较快，工厂可对应调整生产与设计方向，匹配市场需求获得更多订单。

本文披露了MRO采购服务行业的最新发展动态，对服务工业领域的各类服务商有较多参考干货，核心内容如下：

1.行业发展趋势：国内MRO市场仍有较大增长空间，头部企业盈利能力持续改善，行业整体向数字化、智能化方向升级，出海业务、中小企业客户服务都成为新的增长方向，行业整体发展势头良好。

2.客户痛点与业务机会：当前MRO企业普遍需要提升数字化获客能力、智能化履约交付能力、海外市场本地化运营能力，相关数字营销、供应链智能化改造、跨境服务等领域的服务商，可针对这些需求开发对应的解决方案，拓展客户群体。

3.新技术落地参考：自动化智能仓库已经实现商业化落地，可大幅提升仓储环节的人效与空间利用率，为供应链相关服务商提供了可借鉴的新技术落地样本，具备推广价值。

震坤行的最新经营情况，对同类型产业互联网平台商有较多参考价值，核心干货如下：

1.平台经营优化方向：震坤行采用1P自营加3P平台结合的模式，通过优化组织结构、控制成本、提升运营效率，实现了自营毛利率和平台佣金率的双提升，亏损率连续八个季度同比改善，证明提升运营质量、聚焦核心竞争力是平台实现盈利的核心路径。

2.新业务布局参考：平台可开拓针对中小企业的细分服务业务，同时布局出海业务，通过开放供应商招商吸引合作伙伴，震坤行出海业务已经吸引上百家供应商加入，验证了该方向的市场认可度与可行性。

3.风向规避提示：当前外部环境充满挑战，传统重工业行业需求承压，平台运营需要避免盲目多元化，聚焦数字化、智能化、产品竞争力、运营效率等核心能力建设，可有效对冲行业周期风险，实现健康长远发展。

这份震坤行2024年一季度财报，为研究国内MRO产业互联网发展提供了最新一手案例数据，核心研究价值干货如下：

1.产业发展新动向：国内MRO产业互联网头部玩家已经实现连续八个季度亏损率同比改善，盈利能力逐步提升，说明国内产业互联网平台的盈利模式逐步跑通，行业正从扩张期进入提质盈利期，逐渐走向成熟。

2.行业新业务趋势：当前头部MRO平台已经开始布局出海业务，打造中国工业用品出海的新通道，同时深化智能化供应链建设，落地自动化智能仓库提升履约效率，线上获客已经取代线下成为核心获客方式，这些都是产业发展出现的新动向。

3.商业模式验证：“1P自营+3P平台”双轮驱动的模式，可以实现两种模式毛利率、佣金率的同步提升，聚焦核心竞争力、优化成本的发展路径，能够在外部环境不确定的情况下实现盈利能力持续改善，为产业互联网行业的商业模式提供了最新的实践验证。

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Quick Summary

This article summarizes key takeaways from Zhenkunhang, a leading Chinese MRO procurement service platform, regarding its Q1 2024 financial results, covering core performance metrics, growth and new business expansions:

1. Core performance: In Q1 2024, Zhenkunhang posted GMV of 2.35 billion yuan and net revenue of 1.86 billion yuan. Its gross margin rose to 18% from 17.1% in the same period a year earlier, while adjusted net loss margin narrowed to 2.3%. The company has delivered an eight consecutive quarter of year-over-year improvement in loss margin, signaling steadily strengthening profitability.

2. Business growth: Zhenkunhang served more than 46,000 customers in the quarter, with total customer count up 29% year-over-year. Online customer acquisition jumped 103% year-over-year, hitting an all-time high for a single quarter. Its Gongbangbang platform, which focuses on small and medium-sized customers, recorded 63.2% year-over-year customer growth and 28.6% year-over-year GMV growth.

3. New business expansion: Zhenkunhang has opened a 9,600-square-meter intelligent fastener warehouse in Shanghai's Qingpu District. It is also accelerating its US market expansion, with more than 100 suppliers already joining its cross-border program.

This earnings report offers clear insights into industry trends and business expansion opportunities for MRO brands, with key takeaways as follows:

1. Industry and demand trends: China's overall MRO market remains large and retains solid long-term growth potential. On the demand side, downstream sectors including new energy vehicles, chemicals, food, and property & cultural tourism are seeing strong growth, while demand from traditional automaking, mining, and steel & coal is under pressure. On the product side, adhesives, lubricants, and factory automation products are registering relatively fast growth.

2. Channel expansion opportunities: As a leading MRO platform, Zhenkunhang is expanding overseas and is open to supplier partnerships, with over 100 suppliers already on board. Brands can leverage Zhenkunhang's cross-border infrastructure to access overseas markets and unlock new growth.

3. Operational optimization reference: Increasing investment in digitalization and intelligent operations improves product competitiveness and operational efficiency, and drives sustained improvement in profitability. Digital marketing and online customer acquisition have become the dominant customer acquisition channels in the industry, making them a worthwhile strategic priority for MRO brands.

This earnings report reveals the latest market shifts and opportunities in the MRO industrial supplies space, offering valuable insights for industry sellers. Key takeaways are as follows:

1. Growth opportunities: At the industry level, new energy vehicles, chemicals, food, and property & cultural tourism are currently high-growth sectors. At the product level, demand is growing quickly for adhesives, lubricants, factory automation products and tool consumables. Serving small and medium-sized enterprises (SMEs) and expanding into overseas markets are both clear new growth avenues for sellers.

2. Actionable operational insights: Sustained profitability improvement can be achieved through organizational optimization, cost control and higher operational efficiency. Increasing investment in digital marketing and online customer acquisition delivers rapid customer base growth, in line with the industry's current acquisition trend.

3. Risk and opportunity alerts: Persistent macro uncertainty has weighed on demand from traditional automaking, mining and steel & coal, so sellers should avoid overexposure to these sectors. At the same time, sellers can leverage Zhenkunhang's cross-border channels to enter overseas markets at low cost and tap into new demand.

As a leading domestic MRO procurement service platform, Zhenkunhang's Q1 earnings offer valuable insights for manufacturing factories. Key takeaways are as follows:

1. Business partnership opportunities: China's overall MRO market remains large, and downstream sectors including new energy vehicles and chemicals are seeing steady demand growth. Factories can partner with the Zhenkunhang platform to expand B2B sales channels, adjust their product portfolios to align with high-growth sectors, and join Zhenkunhang's overseas expansion program to access the U.S. and other international markets via its cross-border infrastructure.

2. Digital transformation insights: Zhenkunhang has commissioned a 9,600-square-meter automated intelligent fastener warehouse. The facility improves labor productivity by 30%, doubles storage utilization, and cuts traditional forklift use by 70%. This demonstrates that digital and intelligent upgrades to supply chains can drastically boost operational efficiency, serving as a reference model for factories pursuing their own digital transformation.

3. Product demand guidance: Current market demand is growing rapidly for tools, adhesives, material handling equipment, and automation parts. Factories can adjust their production and design accordingly to align with market demand and win more orders.

This article outlines the latest developments in the MRO procurement service industry, offering valuable insights for service providers serving the industrial sector. Key takeaways are as follows:

1. Industry development trends: China's MRO market still has considerable room for growth, with leading players steadily improving profitability. The overall industry is shifting toward digitalization and intelligent upgrading. Expansion into overseas markets and serving SME customers have emerged as the key new growth drivers, putting the industry on a solid positive development trajectory.

2. Customer pain points and business opportunities: MRO companies generally need to improve their digital customer acquisition capabilities, intelligent order fulfillment capabilities, and localized operation capabilities for overseas markets. Service providers focused on digital marketing, intelligent supply chain transformation and cross-border services can develop tailored solutions to address these needs and expand their customer base.

3. Reference for new technology commercialization: Automated intelligent warehouses have been successfully commercialized, delivering large gains in labor productivity and space utilization in storage operations. This provides a proven, replicable model of new technology implementation that holds broad value for supply chain-focused service providers.

Zhenkunhang's latest operating performance offers valuable insights for peer industrial internet platforms. Key takeaways are as follows:

1. Platform operational optimization: Zhenkunhang operates a hybrid model combining first-party self-operation and third-party marketplace services. Through organizational optimization, cost control, and improved operational efficiency, it has lifted both self-operated gross margin and third-party commission rate, and delivered eight consecutive quarters of year-over-year loss margin improvement. This proves that improving operational quality and focusing on core competitiveness is the core path for platforms to achieve profitability.

2. New business expansion reference: Platforms can develop segmented services targeting SMEs and pursue overseas expansion by opening up supplier recruitment to attract partners. Zhenkunhang has already brought more than 100 suppliers into its overseas program, confirming the market demand and feasibility of this strategy.

3. Risk mitigation guidance: The current external environment remains challenging, with demand from traditional heavy industries under pressure. Platforms should avoid blind diversification and focus instead on building core capabilities in digitalization, intelligent operations, product competitiveness, and operational efficiency. This approach effectively hedges against cyclical industry risks and supports healthy long-term development.

Zhenkunhang's Q1 2024 earnings report provides fresh first-hand case data for research on the development of China's industrial internet for MRO. Key research takeaways are as follows:

1. New industry development dynamics: Leading MRO industrial internet players in China have delivered eight consecutive quarters of year-over-year improvement in loss margin, with profitability steadily improving. This indicates that the profitability model of domestic industrial internet platforms is gradually proven viable, and the industry is shifting from a growth-focused expansion phase to a quality-focused profit-driven phase as it matures.

2. Emerging industry trends: Leading MRO platforms have started expanding overseas to build new channels for Chinese industrial goods to enter global markets. They are also deepening investments in intelligent supply chains, rolling out automated intelligent warehouses to improve fulfillment efficiency. Online customer acquisition has now replaced offline channels as the primary source of new customers, all of which are new emerging dynamics shaping the industry's development.

3. Business model validation: The hybrid '1P self-operation + 3P marketplace' model delivers simultaneous growth in gross margin for self-operated business and commission rates for the marketplace. The path of focusing on core competitiveness and optimizing costs enables sustained profitability improvement even amid external uncertainty, providing the latest real-world validation of this business model for the broader industrial internet industry.

Disclaimer: The "Quick Summary" content is entirely generated by AI. Please exercise discretion when interpreting the information. For issues or corrections, please email run@ebrun.com .

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【亿邦原创】5月21日消息，北京时间5月21日，国内MRO采购服务平台震坤行（NYSE：ZKH）于美股盘前发布2024第一季度业绩报告。

第一季度，震坤行GMV23.5亿(人民币，下同)，净收入18.6亿。毛利率从去年同期的17.1%提升至18.0%。此外，调整后净亏损收窄至2.3%，相应利润率同比提高214.5个基点，连续八个季度的同比改善，震坤行盈利能力持续增强。

震坤行董事长兼CEO陈龙表示：“得益于生意质量改善、成本费用控制和效率提升等综合因素，我们盈利能力持续提升。展望未来，虽然外部环境充满挑战，但我们认为中国MRO市场仍是巨大的市场，只要我们更聚焦于核心竞争力建设,包括在数字化、智能化等方面的投入，以及产品竞争力和运营效率的提升，会有更健康长远的发展。”

财报显示，尽管受春节等季节性因素影响，但震坤行客户和商家依然保持高度活跃。报告期内，震坤行服务超46000家客户，客户数同比增长29%。从行业维度看，新能源汽车、化工、食品、物业文旅等增长趋势高走，相较之下传统汽车、矿业、钢铁、煤炭等行业有所承压。

从产品维度看，胶黏剂、润滑油等化学品以及工厂自动化、工具耗材、气动液压、动力传动等工业级产品增长较快。此外，旗下服务中小企业客户的工邦邦平台客户数同比增长63.2%，GMV同比增长28.6%。同时，震坤行数字化营销和线上获客能力持续增强，报告期内线上获客数量达到单季历史新高，同比增长103%。

盈亏上，毛利率在第一季度得到进一步提升，从去年同期的17.1%提升至今年的18.0%，特别是震坤行平台的自营模式（1P）毛利率和平台模式（3P）佣金率，分别从去年同期14.7%提升至16%和从去同期的11.1%提升至今年的11.6%。

回顾历史数据，2021年、2022年和2023年，公司年度毛利率分别为13.6%、15.8%和16.7%。震坤行首席财务官赖俊超表示：“我们优化组织结构和提升运营效率等措施取得积极成果，经调整净亏损为4,300万人民币，较2023年一季度的8,700万人民币大幅下降,亏损率从2023年一季度的4.5%下降至今年一季度的2.3%，连续第八个季度实现同比改善。”

履约能力方面，2024年3月，震坤行第一个紧固件智能仓库在上海青浦落成，使用面积达9600平方米，该自动化仓库预计能在紧固件产线仓储履约方面提升30%的人效和100%的存储利用率，以及节省70%的传统叉车设备使用，智慧供应链的履约和交付能力的全面提升。

此外，海外业务方面，震坤行正在加快美国本地化团队组建、仓库选址以及美国独立站的上线。产品上，震坤行做精选产品和大包装。目前震坤行初期已精选5,000个SKU，集中在工具、物料搬运、胶黏剂等产线。管理层表示，截止到目前已有上百家供应商加入震坤行出海业务，震坤行希望成为中国工业用品出海的通道。

文章来源：亿邦动力