震坤Q2经调整净利润3846万元 AI能力加速商业化

This is a summary of key takeaways from Zhenkunhang, a leading Chinese MRO procurement service platform, for Q2 2026:

1. Core performance results: Zhenkunhang posted Q2 GMV of 2.88 billion yuan, up 18.9% year-over-year, and net revenue of 2.44 billion yuan, up 12.8% YoY. The platform achieved its first scalable quarterly profit, with adjusted net profit of 38.46 million yuan, turning from loss to gain. This marks the company’s formal transition from pure scale expansion to a new high-quality development stage focused on scale, efficiency and profitability.

2. Key business progress: Zhenkunhang now serves more than 73,000 active customers, with all customer segments recording growth across its omni-channel network. It has expanded into multiple high-growth verticals, with overseas business growing more than 10-fold YoY. Its AI capabilities have been officially commercialized, and the company has made notable progress in both private brand development and fulfillment network expansion.

3. Forward outlook: Management expects GMV growth to accelerate in the second half of 2026, with profit scale continuing to expand and core capability building moving forward steadily.

This report outlines the latest industry trends and business opportunities in the MRO space, offering actionable takeaways for MRO brands:

1. Industry growth trends: Demand is growing rapidly in high-automation MRO verticals including semiconductors, new energy and communications electronics. Zhenkunhang’s semiconductor segment customer base grew 100-fold, while its electrical automation business grew 160% YoY, with GMV up more than 30% across over 10 sub-sectors. Demand is rising from both large state-owned and central enterprise (SOE/central enterprise) clients and small-to-medium regional customers, with outbound demand growing especially fast.

2. Channel expansion opportunities: Brands can leverage established MRO platforms like Zhenkunhang to expand their B2B customer base, and follow the platform’s outbound expansion strategy to enter global markets via Zhenkunhang’s dual path of "accompanying Chinese manufacturing overseas + local localization in foreign markets". To date, the platform’s private brand product categories have already gained market recognition on channels including Amazon.

3. Product development guidance: Brands can follow Zhenkunhang’s private brand development playbook to build a systematic capability from product development to testing, refining products around performance, safety compliance and reliability. They can also leverage AI to optimize operations, cut costs and boost efficiency.

This summary discloses the latest growth opportunities and replicable operational lessons for MRO industrial product sellers:

1. Market growth opportunities: MRO demand is surging for high-end manufacturing sectors including semiconductors, new energy and communications electronics, with more than 10 sub-sectors logging over 30% GMV growth. There is clear incremental demand from both large SOE/central enterprise clients and small-to-medium regional customers. Overseas business GMV grew more than 10-fold YoY in H1 2026, moving beyond the exploratory phase into an expansion stage with enormous growth potential.

2. Replicable operational models: Sellers can integrate AI capabilities to optimize their business. In Q2 alone, Zhenkunhang’s AI tools saved over 12,000 working hours and cut R&D expense ratio by 0.5 percentage points year-over-year, delivering both internal cost reduction and external value-added services to boost competitiveness.

3. Opportunity insight: Building out private brands and improving fulfillment capabilities effectively expands profit margins. Zhenkunhang’s private brand GMV grew more than 25% YoY, with its share of total GMV rising to 10%. A optimized warehouse and fulfillment network reduced the platform’s fulfillment rate from 4.2% to 3.7%, delivering a clear improvement in profitability.

This summary outlines the latest demand shifts and digital transformation directions in the MRO sector, offering insights for industrial product manufacturers:

1. Product demand and business opportunities: MRO demand is growing rapidly in high-end manufacturing sectors including semiconductors, new energy and communications electronics. Niche categories such as forklifts and industrial fans have already gained traction in overseas markets, with strong outbound demand. Manufacturers can adjust their product design and production plans to target these high-growth verticals and match current market demand.

2. Partnership and expansion opportunities: Manufacturers can partner with established MRO platforms like Zhenkunhang to access the platform’s nationwide end-to-end fulfillment network and overseas warehouse system, expanding their reach to large domestic SOE/central enterprise clients, small-to-medium regional customers and global clients to capture a share of industry growth.

3. Digital transformation insights: Factories can reference Zhenkunhang’s AI commercialization experience to integrate AI tools that optimize internal operations and cut costs in R&D, production and other core links. They can also connect to the platform’s AI-powered big data capabilities to improve supply chain management, customer relationship management and overall operational efficiency.

This summary covers the latest development trends and demand shifts in the MRO industrial services space, providing guidance for relevant service providers:

1. Industry development trends: The MRO sector has moved past its early stage of unprofitable scale expansion. Leading players have now achieved scalable profitability, entering a new high-quality development phase focused on scale, efficiency and profitability. AI-powered commercial enablement and overseas market expansion are the two core growth drivers for the industry today. Overall, overseas business has grown more than 10-fold, while AI has evolved from an internal efficiency tool to an externally-facing enabling industrial infrastructure.

2. Core customer pain points: Manufacturers across segments have clear demand for intelligent MRO services. Large clients including SOEs and central enterprises have strong demand for digital material governance, while Chinese manufacturers expanding overseas need one-stop solutions for cross-border supply chain coordination, compliance and local fulfillment – needs that remain largely unmet in the current market.

3. AI implementation guidance: A combination of a billion-scale product parameter knowledge graph, industry-specific large language models and an agent matrix has emerged as a proven viable path for AI adoption in the MRO sector, with validated results across multiple industries. Applications such as AI material managers already serve more than 8,600 clients, making this a clear path for solution development.

Using Zhenkunhang, a leading MRO platform, as a case study, this summary summarizes the latest development paths and operational lessons for MRO procurement platforms:

1. Core customer demand for platforms: Today’s customers require more than basic MRO product supply. They increasingly demand comprehensive services including AI-powered intelligent operations, one-stop outbound supply chain services, compliant supply guarantee for special categories (such as hazardous chemicals), and end-to-end fulfillment delivery.

2. Replicable operational practices: First, implement tiered customer operation: deepen engagement with large SOE/central enterprise clients while tapping incremental growth from small-to-medium regional customers, expand into high-growth verticals including semiconductors and new energy, and develop private brands to expand profit margins. Second, accelerate AI commercialization: use AI for internal cost reduction and efficiency gains, and externally monetize AI capabilities to build a new growth curve. Third, continuously optimize warehouse and fulfillment networks to cut fulfillment costs and improve supply capacity via strategic network布局.

3. Growth direction guidance: Beyond the domestic MRO market, overseas markets offer enormous growth potential. Platforms can follow Zhenkunhang’s dual path of "accompanying Chinese manufacturing overseas + localized overseas operations" to unlock new growth.

This disclosure of the latest developments of China’s leading MRO industrial internet platform offers high reference value for industry research:

1. A new stage of industrial development: Leading MRO platform Zhenkunhang’s first scalable quarterly profit marks that China’s MRO industrial internet industry has formally transitioned from its early capital-fueled expansion and incubation stage to a new high-quality development phase centered on "scale + efficiency + profitability". This milestone validates the profitability of the industrial internet platform model and represents an important turning point for the industry.

2. New business model innovation: Two notable new business models have emerged among leading platforms. First, the dual outbound path: platforms provide one-stop supply chain services to support Chinese manufacturing going global, while advancing localized operations overseas to expand into local foreign markets with private brands. Second, the AI commercialization model: AI capabilities have upgraded from an internal cost-cutting tool to an externally-facing industrial infrastructure, forming a new growth pole.

3. New characteristics of industrial growth: Leading platforms now achieve full coverage across customer segments, with large SOE/central enterprise clients and small-to-medium regional customers growing in tandem. High value-added verticals including semiconductors and new energy are growing far faster than the industry average, becoming the core growth engines for platforms and demonstrating clear industrial upgrading trends.