How did ZKH's Q3 2024 EPS outperform forecasts?

ZKH's Q3 2024 EPS outperformance can be attributed to **Revenue Growth** and **Cost Management**.

1. **Revenue Growth**: ZKH Group reported an 8.5% year-over-year increase in revenue for the second quarter, reaching CNY 2.25 billion. This growth is a result of a 5.6% increase in gross merchandise value (GMV) and a 9.5% rise in product sales. The company's marketplace platform also showed a 17.8% growth in GMV, indicating a strong performance across its business segments.
2. **Cost Management**: Despite the revenue growth, ZKH Group managed to narrow its net loss to CNY 66.29 million, compared to CNY 129.54 million in the same period last year. This improvement in profitability is a result of effective cost management, as evidenced by the 14.3% increase in gross profit and a 14.3 percentage point improvement in gross margin. The company's focus on strengthening its supply chain and optimizing its sales team structure has likely contributed to these cost-saving measures.

In conclusion, ZKH's Q3 2024 EPS outperformance can be attributed to a combination of revenue growth and cost management efforts. The company's strategic investments in strengthening its supply chain and digitalization, along with effective cost control, have likely contributed to its improved financial performance.