ZJK Industrial Co., Ltd. Reports Financial Results for Fiscal Year 2025
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Record revenues and earnings driven by strong demand and high-value product strategy
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Well-positioned for continued growth in 2026 supported by AI, electric vehicles and advanced smart technologies
SHENZHEN, China, April 29, 2026 (GLOBE NEWSWIRE) -- ZJK Industrial Co., Ltd. (NASDAQ: ZJK) (“ZJK” or the “Company”), a high-tech precision parts and hardware manufacturer serving artificial intelligence (AI) infrastructure, consumer electronics, electric vehicles, aerospace, and other smart technologies, today announced its financial results for the fiscal year ended December 31, 2025.
Fiscal Year 2025 Financial Highlights
- Revenues were an all-time high of US$56.10 million for 2025, an increase of 48.39% from US$37.81 million for 2024.
- Gross profit was US$24.50 million for 2025, up 80.62% from US$13.57 million for 2024.
- Gross margin was 43.67% for 2025, an increase of 7.79% from 35.88% for 2024.
- Income from operations was US$9.46 million for 2025, an increase of 478.90% from US$1.63 million for 2024.
- Net income reached a record of US$10.15 million for 2025, up 177.21% from US$3.66 million for 2024.
- Basic and diluted earnings per share were both US$0.16 for 2025, an increase of 166.67% from US$0.06 for 2024.
- Net cash provided by operating activities was US$6.56 million for 2025, an increase of 22.78% from US$5.34 million for 2024.
- Cash and cash equivalents, restricted short-term deposits, and short-term investments amounted to US$18.62 million as of December 31, 2025, up 19.28% from US$15.61 million as of December 31, 2024.
Mr. Ning Ding, Chief Executive Officer and Chairman, commented, “We are very excited to cap 2025 with stellar results and carry strong momentum into 2026, driven by consistent execution of our long-term growth strategy. Specifically, we achieved record revenues of US$56.10 million and net income of US$10.15 million in 2025, representing year-over-year growth of 48.39% and 177.21%, respectively. This performance demonstrates our ability to scale efficiently and meet growing demand in key end markets like AI, consumer electronics, and new energy vehicles, while validating the effectiveness of our strategic focus on higher-precision, higher-value products and continued operational investments.
We are particularly encouraged by the progress we are making in our product portfolio. The transition of new projects into stable mass production, combined with growing customer recognition of our precision and quality standards, drove gross margin to 43.67%, up 7.79% year-over-year, and strengthened our competitive position in ways we believe will continue to compound over time.
We also saw meaningful traction in executing our global expansion strategy across both supply and demand. By advancing localized manufacturing capabilities in Vietnam, we are building a more diversified, flexible and resilient global production network. We are also considering establishing our presence in U.S. In parallel, we increased spending in market development across North America, Singapore and Taiwan, expanding our presence in key regions and strengthening our global customer base to support long-term growth.
Importantly, our sustained investment in advanced manufacturing machinery, equipment, and research and development is delivering tangible results. Through continuous innovation in manufacturing processes, automation and precision engineering, we are improving efficiency, optimizing cost structures, and expanding our portfolio of high-performance products. These capabilities enable us to meet the increasingly stringent requirements of high-end applications such as AI servers, semiconductor equipment and automated production systems, positioning ZJK as a critical enabler within the global high-end manufacturing ecosystem.
Looking ahead, we remain confident in our growth trajectory. We see significant opportunities ahead as the accelerating adoption of AI infrastructure, electric vehicles and advanced smart technologies drives rising demand for high-precision components. With our continued focus on innovation, operational excellence and targeted global expansion, we believe we are well positioned to deliver sustainable growth and long-term value for our shareholders.”
Fiscal Year 2025 Financial Results
Revenues
Revenues were US$56.10 million for 2025, an increase of 48.39% from US$37.81 million for 2024. This increase was driven by a rise in sales volume, which grew by 28.54%, along with higher average unit sales prices.
Cost of Revenues
Cost of revenues were US$31.60 million for 2025, an increase of 30.35% from US$24.24 million for 2024. This increase was mainly due to increased sales volume of the Company’s products.
Gross Profit and Gross Profit Margin
Gross profit was US$24.50 million for 2025, an increase of 80.62% from US$13.57 million for 2024. This increase was mainly due to the increased sales volume and increased average unit sales price of our hardware products.
The gross profit margin was 43.67% for 2025, up 7.79% from 35.88% for 2024, mainly due to (i) an increase in average unit sales prices, supported by a shift towards more complex, high-precision, and value-added products, which improved our market competitiveness; (ii) a decrease in average unit costs, due to the optimization of our production technology and economies of scale resulting from increased production volumes; and (iii) the successful transition of new projects into mass production, which helped to dilute fixed costs and contributed to overall margin expansion.
Total Operating Expenses
Total operating expenses were US$15.04 million for 2025, compared with US$11.93 million for 2024.
- General and administrative expenses were US$6.75 million for 2025, remaining relatively stable compared with US$6.71 million for 2024.
- Selling and marketing expenses were US$7.17 million for 2025, an increase of 52.18% from US$4.71 million for 2024. This increase was primarily due to (i) an increase of US$1.72 million in sales commission resulting from business expansion into markets such as North America, Singapore, and Taiwan, China, (ii) an increase of US$0.48 million in salaries and benefits for sales and marketing personnel due to higher headcounts to support our business expansion, and (iii) an increase of US$0.23 million in freight costs for sale of products mainly reflecting expanded overseas shipping demands.
- Research and development expenses were US$1.11 million for 2025, an increase of 103.07% from US$0.55 million for 2024. This increase was primarily attributable to (i) an increase of US$0.40 million in material consumption driven by a growing number of product development projects and the transition of several projects into the trial production stage, and (ii) an increase of US$0.17 million in salaries and benefits for research and development personnel, reflecting performance-based salary adjustments to retain core technical staff.
Income from operations
Income from operations surged to US$9.46 million for 2025, an increase of 478.90% from US$1.63 million for 2024.
Other income, net
Other income, net was US$4.36 million for 2025, an increase of 32.33% from US$3.29 million for 2024. This increase was primarily attributable to (i) an increase in investment income of US$0.79 million generated from long-term equity investment in PSM-ZJK Fasteners (Shenzhen) Co., Ltd, (ii) an increase of US$0.23 million in interest income from structured deposits and time deposits.
Net Income
Net income was US$10.15 million for 2025, an increase of 177.21% from US$3.66 million for 2024.
Basic and Diluted Earnings per Share
Basic and diluted earnings per share were both US$0.16 for 2025, an increase of 166.67% from US$0.06 for 2024.
Financial Condition
As of December 31, 2025, the Company had cash and cash equivalents, restricted short-term deposits and short-term investments of US$18.62 million, compared to US$15.61 million as of December 31, 2024.
About ZJK Industrial Co., Ltd.
ZJK Industrial Co., Ltd. is a high-tech precision parts and hardware manufacturer serving artificial intelligence (AI) infrastructure, consumer electronics, electric vehicles, aerospace, and other smart technologies. With over 15 years in the precision metal parts manufacturing industry, the Company maintains a skilled professional team, a series of highly automated and precision manufacturing equipment, a stable and diversified customer base, and comprehensive quality management systems. ZJK mainly offers standard screws, precision screws and nuts, high-strength bolts and nuts, turning parts, stamping parts and Computer Numerical Control (CNC) machining parts, CNC milling parts, high precision structural components, Surface Mounting Technology (SMT) for miniature parts packaging, and technology service for research and development from a professional engineering team. For more information, please visit the Company's website at https://ir.zjk-industrial.com/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to,” “propose” or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
ZJK Industrial Co., Ltd.
Phone: +86-755-28341175
Email: ir@zjk-industrial.com
The Blueshirt Group Asia
Feifei Shen
Phone: +86-134-66566136
Email: feifei@blueshirtgroup.co
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ZJK Industrial Co., Ltd. CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for numbers of shares data) | ||||||||
| As of December 31, | ||||||||
| 2024 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | 12,255,213 | 14,350,959 | ||||||
| Restricted cash | 797,241 | 2,037,041 | ||||||
| Short-term investments | 2,559,362 | 2,234,078 | ||||||
| Accounts receivable, net | 10,282,857 | 15,974,676 | ||||||
| Accounts receivable-due from a related party | 9,165,068 | 11,227,799 | ||||||
| Inventories, net | 7,316,029 | 12,143,316 | ||||||
| Prepaid expenses and other current assets, net | 872,753 | 964,194 | ||||||
| Other receivables-due from related parties | 249,235 | 598,467 | ||||||
| Total current assets | 43,497,758 | 59,530,530 | ||||||
| Non-current assets | ||||||||
| Property, plant and equipment, net | 6,668,612 | 12,271,875 | ||||||
| Intangible assets, net | 33,008 | 97,433 | ||||||
| Operating lease right-of-use assets | 1,242,524 | 3,574,775 | ||||||
| Finance lease right-of-use assets | 38,160 | — | ||||||
| Long-term investment | 2,747,493 | 3,706,080 | ||||||
| Other non-current assets | 1,146,010 | 347,569 | ||||||
| Total non-current assets | 11,875,807 | 19,997,732 | ||||||
| TOTAL ASSETS | 55,373,565 | 79,528,262 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Short-term bank borrowings | 1,223,405 | — | ||||||
| Accounts payable | 14,998,590 | 18,233,194 | ||||||
| Notes payable | 1,903,194 | 3,803,926 | ||||||
| Income tax payable | 1,600,300 | 3,431,262 | ||||||
| Accrued expenses and other current liabilities | 2,051,588 | 3,583,457 | ||||||
| Other payables-due to related parties | 1,778,175 | 2,322,224 | ||||||
| Operating lease liabilities, current | 423,214 | 726,152 | ||||||
| Total current liabilities | 23,978,466 | 32,100,215 | ||||||
| Non-current liabilities | ||||||||
| Operating lease liabilities, non-current | 755,395 | 2,876,209 | ||||||
| Deferred tax liabilities | 572,829 | 957,610 | ||||||
| Total non-current liabilities | 1,328,224 | 3,833,819 | ||||||
| TOTAL LIABILITIES | 25,306,690 | 35,934,034 | ||||||
| Commitments and contingencies (Note 15) | ||||||||
| Shareholders’ equity | ||||||||
| Ordinary share, $0.000016666667 par value, 3,000,000,000 shares authorized, 61,381,249 and 63,822,249 shares issued and outstanding as of December 31, 2024 and 2025, respectively* | 1,023 | 1,063 | ||||||
| Additional paid-in capital | 7,060,050 | 8,977,814 | ||||||
| Statutory surplus reserves | 2,658,112 | 2,662,115 | ||||||
| Retained earnings | 21,951,873 | 32,132,905 | ||||||
| Accumulated other comprehensive loss | (1,635,291 | ) | (304,868 | ) | ||||
| Total ZJK Industrial Co., Ltd. shareholders’ equity | 30,035,767 | 43,469,029 | ||||||
| Non-controlling interests | 31,108 | 125,199 | ||||||
| Total shareholders’ equity | 30,066,875 | 43,594,228 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 55,373,565 | 79,528,262 | ||||||
* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on March 28, 2023, the two share splits that occurred on June 19, 2023 and June 6, 2024, respectively.
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ZJK Industrial Co., Ltd. CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (In U.S. dollars, except for the number of shares data) | ||||||||||||
| For the years ended December 31, | ||||||||||||
| 2023 | 2024 | 2025 | ||||||||||
| Revenues | ||||||||||||
| Third-party sales | 13,961,495 | 21,250,363 | 35,728,684 | |||||||||
| Related-party sales | 15,093,811 | 16,559,102 | 20,375,169 | |||||||||
| Total revenues | 29,055,306 | 37,809,465 | 56,103,853 | |||||||||
| Cost of revenues | ||||||||||||
| Third-party sales | (9,486,512 | ) | (12,281,086 | ) | (15,654,953 | ) | ||||||
| Related-party sales | (8,547,906 | ) | (11,963,141 | ) | (15,947,479 | ) | ||||||
| Total cost of revenues | (18,034,418 | ) | (24,244,227 | ) | (31,602,432 | ) | ||||||
| Gross profit | 11,020,888 | 13,565,238 | 24,501,421 | |||||||||
| Operating expenses | ||||||||||||
| Selling and marketing expenses | (1,750,877 | ) | (4,711,294 | ) | (7,169,559 | ) | ||||||
| General and administrative expenses | (2,531,630 | ) | (6,705,791 | ) | (6,750,220 | ) | ||||||
| Research and development costs | (455,398 | ) | (548,122 | ) | (1,113,058 | ) | ||||||
| Gain (loss) from disposal of property, plant and equipment | 78 | 34,878 | (4,041 | ) | ||||||||
| Total operating expenses | (4,737,827 | ) | (11,930,329 | ) | (15,036,878 | ) | ||||||
| Income from operations | 6,283,061 | 1,634,909 | 9,464,543 | |||||||||
| Other income, net | ||||||||||||
| Interest expenses | (109,003 | ) | (15,085 | ) | (23,734 | ) | ||||||
| Interest income | 18,239 | 113,736 | 348,326 | |||||||||
| Share of profits from equity method investment | 2,335,281 | 2,622,348 | 3,409,385 | |||||||||
| Currency exchange gain | 12,433 | 97,506 | 68,010 | |||||||||
| Other income, net | 434,031 | 474,348 | 555,443 | |||||||||
| Total other income, net | 2,690,981 | 3,292,853 | 4,357,430 | |||||||||
| Income before income tax provision | 8,974,042 | 4,927,762 | 13,821,973 | |||||||||
| Income tax provision | (1,284,203 | ) | (1,264,933 | ) | (3,668,171 | ) | ||||||
| Net income | 7,689,839 | 3,662,829 | 10,153,802 | |||||||||
| Less: net loss attributable to non-controlling interests | (1,246 | ) | (19,894 | ) | (31,233 | ) | ||||||
| Net income attributable to ZJK Industrial Co., Ltd.’s shareholders | 7,691,085 | 3,682,723 | 10,185,035 | |||||||||
| Other comprehensive (loss)/income | ||||||||||||
| Foreign currency translation adjustment attributable to parent company | (460,025 | ) | (618,728 | ) | 1,330,423 | |||||||
| Foreign currency translation adjustment attributable to non-controlling interests | 19 | 332 | (1,925 | ) | ||||||||
| Total comprehensive income | 7,229,833 | 3,044,433 | 11,482,300 | |||||||||
| Comprehensive loss attributable to non-controlling interests | (1,227 | ) | (19,562 | ) | (33,158 | ) | ||||||
| Comprehensive income attributable to ZJK Industrial Co., Ltd.’s shareholders | 7,231,060 | 3,063,995 | 11,515,458 | |||||||||
| Earnings per share * | ||||||||||||
| Basic | 0.13 | 0.06 | 0.16 | |||||||||
| Diluted | 0.13 | 0.06 | 0.16 | |||||||||
| Weighted average shares used in calculating earnings per share * | ||||||||||||
| Basic | 60,000,000 | 60,336,800 | 62,496,008 | |||||||||
| Diluted | 60,000,000 | 60,336,800 | 62,622,446 | |||||||||
* The shares and per share information are presented on a retroactive basis to reflect the reorganization completed on March 28, 2023 and the two share splits that occurred on June 19, 2023 and June 6, 2024, respectively.
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ZJK Industrial Co., Ltd. CONSOLIDATED STATEMENTS OF CASH FLOWS (In U.S. dollars, except for the number of shares data) | ||||||||||||
| For the years ended December 31, | ||||||||||||
| 2023 | 2024 | 2025 | ||||||||||
| Cash flows from operating activities: | ||||||||||||
| Net income | 7,689,839 | 3,662,829 | 10,153,802 | |||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Provision for credit loss | 17,071 | 15,394 | 116,036 | |||||||||
| Impairment of prepayments for equipment | 1,000,020 | |||||||||||
| Depreciation of property, plant and equipment | 504,370 | 560,846 | 762,236 | |||||||||
| Amortization of intangible assets | — | 10,431 | 25,636 | |||||||||
| Amortization of operating lease right-of-use assets | 286,220 | 347,177 | 548,561 | |||||||||
| Amortization of finance lease right-of-use assets | 281,849 | 293,169 | 38,844 | |||||||||
| Interest expense of finance lease liabilities | 13,794 | 4,346 | — | |||||||||
| (Gain) loss from disposal of property, plant and equipment | (78 | ) | (34,878 | ) | 4,041 | |||||||
| Provision for inventories | 373,264 | 997,587 | 1,040,482 | |||||||||
| Share of profits from equity method investment | (2,335,281 | ) | (2,622,348 | ) | (3,409,385 | ) | ||||||
| Provisions for deferred income tax | 213,773 | 232,801 | 350,786 | |||||||||
| Share-based compensation | — | — | 1,917,804 | |||||||||
| Changes in operating assets and liabilities: | ||||||||||||
| Accounts receivable | (631,085 | ) | (314,305 | ) | (5,227,716 | ) | ||||||
| Accounts receivable-due from a related party | (2,025,426 | ) | (598,412 | ) | (1,620,257 | ) | ||||||
| Inventories | (427,290 | ) | (3,717,561 | ) | (5,435,743 | ) | ||||||
| Prepaid expenses and other current assets | (378,164 | ) | (388,242 | ) | (180,416 | ) | ||||||
| Other receivables-due from related parties | 69,344 | 30,393 | (388,052 | ) | ||||||||
| Accounts payable | (124,132 | ) | 3,877,173 | 2,095,704 | ||||||||
| Notes payable | 75,567 | 1,461,872 | 1,772,361 | |||||||||
| Income tax payable | 96,368 | 602,170 | 1,717,255 | |||||||||
| Accrued expenses and other current liabilities | 225,204 | 1,225,041 | 1,406,302 | |||||||||
| Other payables-due to related parties | 548,398 | 44,578 | 348,070 | |||||||||
| Operating lease liabilities | (357,231 | ) | (347,522 | ) | (476,560 | ) | ||||||
| Net cash provided by operating activities | 4,116,374 | 5,342,539 | 6,559,811 | |||||||||
| Cash flows from investing activities: | ||||||||||||
| Purchase of property, plant and equipment | (366,740 | ) | (2,472,552 | ) | (5,571,558 | ) | ||||||
| Purchase of intangible assets | — | (43,926 | ) | (87,054 | ) | |||||||
| Net (payment of) proceeds from short-term investments | — | (2,597,076 | ) | 426,510 | ||||||||
| Dividends received from long-term equity investment | 1,863,561 | 2,319,218 | 2,591,873 | |||||||||
| Loans to related parties | (253,473 | ) | (555,089 | ) | (82,123 | ) | ||||||
| Collection of loans to related parties | 51,125 | 545,969 | 140,239 | |||||||||
| Net cash provided by/(used in) investing activities | 1,294,473 | (2,803,456 | ) | (2,582,113 | ) | |||||||
| Cash flows from financing activities: | ||||||||||||
| Proceeds from short-term bank borrowings | 183,367 | 1,390,183 | 1,394,545 | |||||||||
| Repayments of short-term bank borrowings | (851,388 | ) | (185,450 | ) | (2,639,873 | ) | ||||||
| Repayments of long-term debts | (1,750,598 | ) | (29,314 | ) | — | |||||||
| Repayments of financing lease liabilities | (377,467 | ) | (231,814 | ) | — | |||||||
| Proceeds from loans from related parties | 282,104 | — | 383,318 | |||||||||
| Repayments of loans from related parties | (65,828 | ) | (83,411 | ) | (276,752 | ) | ||||||
| Deferred initial public offering (“IPO”) costs | (369,443 | ) | (1,072,314 | ) | — | |||||||
| Proceeds from IPO | — | 6,906,245 | — | |||||||||
| Capital injection from a non-controlling shareholder of a subsidiary | — | 52,500 | 127,249 | |||||||||
| Net cash (used in)/provided by financing activities | (2,949,253 | ) | 6,746,625 | (1,011,513 | ) | |||||||
| Effect of exchange rate changes | (76,136 | ) | (135,026 | ) | 369,361 | |||||||
| Net change in cash, cash equivalents and restricted cash | 2,385,458 | 9,150,682 | 3,335,546 | |||||||||
| Reconciliation of cash, cash equivalents and restricted cash at the beginning of year | ||||||||||||
| Cash and cash equivalents | 1,104,472 | 2,826,725 | 12,255,213 | |||||||||
| Restricted cash | 411,842 | 1,075,047 | 797,241 | |||||||||
| Cash, cash equivalents and restricted cash at the beginning of year | 1,516,314 | 3,901,772 | 13,052,454 | |||||||||
| Reconciliation of cash, cash equivalents and restricted cash at the end of year | ||||||||||||
| Cash and cash equivalents | 2,826,725 | 12,255,213 | 14,350,959 | |||||||||
| Restricted cash | 1,075,047 | 797,241 | 2,037,041 | |||||||||
| Cash, cash equivalents and restricted cash at the end of year | 3,901,772 | 13,052,454 | 16,388,000 | |||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Income tax paid | 986,257 | 607,120 | 1,585,805 | |||||||||
| Interest expenses paid | 71,606 | 8,164 | 24,322 | |||||||||
| Supplemental disclosures of non-cash activities: | ||||||||||||
| Obtaining finance lease right-of-use assets in exchange for finance lease liabilities | 457,731 | — | — | |||||||||
| Obtaining operating right-of-use assets in exchange for operating lease liabilities | 455,499 | 1,100,660 | 2,789,922 | |||||||||
| Offset additional paid in capital with deferred IPO costs | — | 566,417 | — | |||||||||
| Acquiring property, plant and equipment transferred from construction in progress | 50,132 | 66,965 | — | |||||||||
| Acquiring property, plant and equipment in exchange for accounts payable | 427,015 | 392,199 | 418,289 | |||||||||
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