DDL

SHANGHAI, Aug. 20, 2026 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended June 30, 2026. Second Quarter 2026 Highlights:[1] GMV: total amount of GMV for the second quarter of 2026 increased by 11.8% year over year to RMB7,265.3 million (US$1,070.8 million) from RMB6,499.4 million in the same quarter of 2025, positive year-on-year growth for tenth straight quarters. Net income: total amount of net income for the second quarter of 2026 was RMB271.7 million (US$40.0 million), the tenth consecutive quarter of profitability. Non-GAAP net income: total amount of Non-GAAP net income for the second quarter of 2026 was RMB281.3 million (US$41.5 million), the fifteenth consecutive quarter of non-GAAP profitability. Mr. Song Wang, the Chief Executive Officer of Dingdong, stated, "As of the second quarter of 2026, Dingdong has maintained profitability under non-GAAP standards for fifteenth consecutive quarters and under GAAP standards for tenth consecutive quarters. The Company has also delivered year-over-year revenue growth for the tenth consecutive quarter, and has seen further acceleration in growth since entering the third quarter. Since July, the Company's business has entered peak season, with monthly GMV hitting a record high, during which single‑day GMV exceeded RMB 100 million multiple times and set a new record. Our steady revenue growth and consistent profitability are mainly attributed to the growth in average monthly ordering users among our loyal members and the increase in average monthly order frequency. In addition, on the product supply chain side, we continuously improve product quality and cater to users' diverse scenario‑based needs, better serving our platform users. This excellent performance fully demonstrates Dingdong's strategic resilience and solid execution amid fierce competition, laying robust fundamentals and lasting momentum for sustainable long‑term growth." On February 5, 2026, the Company entered into a definitive agreement to divest its China business to Meituan (HKEX: 3690). The transaction remains pending as of this release, contingent on standard closing conditions under the Share Purchase Agreement, notably anti-monopoly approval from SAMR. Consistent with prior quarter accounting treatment, no depreciation or amortization was recognized for the held-for-sale China business upon classification as held-for-sale, which resulted in an increase to our net income by RMB199.1 million (US$29.3 million) in the current quarter. Second Quarter 2026 Financial Results[1] Total revenues were RMB6,487.3 million (US$956.1 million), compared with total revenues of RMB5,975.9 million in the same quarter of 2025, representing an increase of 8.6% year over year. Revenues generated from our China business[2] as included in profit from discontinued operations increased by 8.3% year over year to RMB6,414.1 million (US$945.3 million), primarily due to the rise of number of orders resulting from rise in the average monthly number of transacting users and higher monthly order frequency, and newly opened frontline fulfillment stations with density and market penetration improving in Eastern China. The increase was partially offset by the continued downward pressure on CPI prices for certain key categories, including pork, and by the closure of some inefficient frontline fulfillment stations in Beijing and the Guangzhou‑Shenzhen area during the second quarter of 2026. Revenues generated from our overseas business increased by 36.2% year over year to RMB73.2 million (US$10.8 million), primarily due to the rise in the number of orders resulting from market expansion in overseas markets and customer base growth. Total operating costs and expenses were RMB6,244.4 million (US$920.3 million), compared with RMB5,980.1 million in the same quarter of 2025, with a detailed breakdown as below. No depreciation or amortization is recorded in the cost and the four categories of expenses for long-lived assets in the China business after being classified as held-for-sale, as assets held for sale are measured at the lower of their carrying amount or fair value less costs to sell according to the relevant standards under US GAAP. This has also impacted the line items below: Cost of goods sold was RMB4,568.7 million (US$673.3 million), an increase of 7.4% from RMB4,255.2 million in the same quarter of 2025. Cost of goods sold as a percentage of revenues was 70.4%, compared with 71.2% in the same quarter of 2025. Gross margin was 29.6%, compared with 28.8% in the same quarter of 2025. Since the launch and continued implementation of our 4G Strategy in early 2025, the gross margin for the second quarter of 2026 was generally consistent with that of previous quarters. Fulfillment expenses were RMB1,207.0 million (US$177.9 million), a decrease of 7.0% from RMB1,297.3 million in the same quarter of 2025. Fulfillment expenses as a percentage of total revenues decreased to 18.6% from 21.7% in the same quarter of 2025. Sales and marketing expenses were RMB126.4 million (US$18.6 million), an increase of 22.8% from RMB102.9 million in the same quarter of 2025. Sales and marketing expenses as a percentage of total revenues slightly increased to 1.9%, compared with 1.7% in the same quarter of 2025. The year-on-year increase in marketing expenses is mainly attributable to the increased spending on sales and marketing activities. General and administrative expenses were RMB126.7 million (US$18.7 million), a slight increase of 3.1% from RMB 122.9 million in the same quarter of 2025, mainly driven by staff costs. Product development expenses were RMB215.7 million (US$31.8 million), a slight increase of 6.9% from RMB 201.8 million in the same quarter of 2025. While advocating for energy and resource saving, we will continue to invest in our product development capabilities, agricultural technology, data algorithms, and other technology infrastructure such as the AI technical capability, to further enhance our competitiveness. Income from operations was RMB252.8 million (US$37.3 million), an increase of 209.6% from RMB81.6 million in the same quarter of 2025. Net income was RMB271.7 million (US$40.0 million), an increase of 153.5% from RMB107.2 million in the same quarter of 2025. Among which, net income for China business increased by 155.8% year over year to RMB334.9 million (US$49.4 million), which was largely due to cease of depreciation or amortization of long-lived assets classified as held-for-sale under US GAAP. This factor has resulted in an increase of our net income by RMB199.1 million (US$29.3 million) in the current quarter, and this impact will continue to affect the quarterly net income every period prior to the completion of the Meituan transaction. Net loss for overseas business increased by 166.3% year over year to RMB63.2 million (US$9.3 million). Non-GAAP net income, which is a non-GAAP measure that only excludes share-based compensation expenses from net income, was RMB281.3 million (US$41.5 million), an increase of 120.2% from RMB127.8 million in the same quarter of 2025. In addition, non-GAAP net income margin, which is the Company's non-GAAP net income as a percentage of total revenues, was 4.3% compared with 2.1% in the same quarter of 2025. Non-GAAP net income for China business increased by 130.6% year over year to RMB342.3 million (US$50.4 million). Non-GAAP net loss for overseas business increased by 194.8% year over year to RMB60.9 million (US$9.0 million). Similarly, non-GAAP net income was subject to the same factors that affected net income. Basic and diluted net income per share were RMB0.87 (US$0.13) and RMB0.87 (US$0.13), compared with net income per share of RMB0.33 and RMB0.33 in the same quarter of 2025. Non-GAAP net income per share, basic and diluted, were RMB0.90 (US$0.13) and RMB0.90 (US$0.13), compared with RMB0.39 and RMB0.39 in the same quarter of 2025. Cash and cash equivalents, restricted cash and short-term investments were RMB4,880.9 million (US$719.4 million) as of June 30, 2026, compared with RMB3,820.0 million as of March 31, 2026. We have been working diligently to optimize our capital usage and financing structure. The cash and cash equivalents, restricted cash, short-term investments and long-term deposits as included in the other non-current assets deducting the balance of short-term borrowings, is RMB3,284.0 million, a net increase for the thirteenth consecutive quarter, compared with RMB3,210.6 million as of March 31, 2026. Short-term Borrowings for discontinued operations of Dingdong's China business were RMB1,646.8 million (US$242.7 million) as of June 30, 2026. Pursuant to transaction terms with Meituan, Dingdong Cayman is entitled to receive up to USD 280 million in cash from Dingdong BVI and its subsidiaries (including Dingdong Hong Kong) by August 31, 2026. At June 30, 2026, Dingdong Hong Kong's USD funds were held in fixed‑term wealth management products maturing at the end of August. To set aside funds for the payments due to Dingdong Cayman, Dingdong Hong Kong arranged a USD 157 million short‑term bank loan and transferred the proceeds to Dingdong Cayman. The loan matures at the end of August and will be repaid with the proceeds from the wealth products upon their maturity. Management change The company announced that Mr. Zhou Chen, Senior Finance Director of the Company, has tendered his resignation to step down from his current position due to personal reasons. Mr. Chen's resignation was not the result of any dispute or disagreement with the Company or any matter relating to the operation, policies or practices of the Company. The company also announced that Mr. Yikun Zhu, currently the Senior Director of the Company, has assumed Mr. Zhou Chen's role and been in charge of financial affairs of the listed company. Mr. Yikun Zhu has served as our Senior Director since June 2021. He is primarily responsible for the Group's investment and financing activities, and concurrently holds the position of Financial Controller of the Overseas Business Group. Prior to joining the Company, from July 2018 to June 2021, Mr. Zhu served at Zhejiang Dasouche Software Technology Service Co., Ltd., a subsidiary of DSC Holdings Ltd., where he was primarily responsible for investment and financing. From October 2014 to June 2018, he held positions at several financial institutions, including Shanghai Yingwo Investment Management Co., Ltd., Shanghai International Trust Co., Ltd., and Caitong Securities Asset Management Co., Ltd. Mr. Zhu received his Bachelor of Science in Economics from the University of Southampton, United Kingdom, in June 2012, and his Master of Science in Management and Strategy from the London School of Economics and Political Science, United Kingdom, in November 2013. On behalf of the Company and the Board, Mr. Song Wang, Director of the Board and CEO of Dingdong, commented: "We extend our sincere gratitude to Mr. Zhou Chen for his outstanding leadership and invaluable dedication during his tenure as Senior Finance Director. We wish him every success in all his upcoming professional pursuits. We are equally delighted to have Mr. Yikun Zhu oversee the financial operations of our listed entity. I am fully confident that Mr. Zhu's extensive professional financial know-how will further strengthen our capable management team." About Dingdong (Cayman) Limited We are a leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. We directly provide users and households with fresh groceries, prepared food, and other food products through delivering a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers' evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me. Use of Non-GAAP Financial Measures The Company uses non-GAAP measures, such as non-GAAP net income, non-GAAP net income margin, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company's operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this announcement. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.7851 to US$1.00, the exchange rate on June 30, 2026 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue," or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong's strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong's expectations regarding demand for and market acceptance of its products and services; Dingdong's expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong's industry; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law. The following schedules set forth the breakdown of assets and liabilities held for sale and income from discontinued operations of Dingdong's China business which were included in the Company's unaudited interim condensed consolidated financial statements: View original content:https://www.prnewswire.com/news-releases/dingdong-cayman-limited-announces-second-quarter-2026-financial-results-302856261.html

SHANGHAI, May 21, 2026 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended March 31, 2026. First Quarter 2026 Highlights:[1] GMV: total amount of GMV for the first quarter of 2026 increased by 6.3% year over year to RMB6,333.3 million (US$918.1 million) from RMB5,960.7 million in the same quarter of 2025, positive year-on-year growth for ninth straight quarters. Net income: total amount of net income for the first quarter of 2026 was RMB165.4 million (US24.0 million), the ninth consecutive quarter of profitability. Non-GAAP net income: total amount of Non-GAAP net income for the first quarter of 2026 was RMB172.0 million (US$24.9 million), the fourteenth consecutive quarter of non-GAAP profitability. Mr. Song Wang, the Chief Executive Officer of Dingdong, stated, "As of the first quarter of 2026, Dingdong has maintained profitability under non-GAAP standards for fourteen consecutive quarters and under GAAP standards for nine consecutive quarters. The Company has also delivered year-over-year revenue growth for the ninth consecutive quarter, and sees faster growth momentum entering the second quarter. This sustained top-line expansion, together with the consistent achievement of profitability targets, is largely driven by the Company's continued pursuit of product supply chain excellence and efficiency, user mindshare, and system capabilities. Together, these efforts underscore Dingdong's strategic resilience and strong execution in a competitive market, while building a solid foundation and momentum for long-term growth." On February 5, 2026, the Company announced the entry into a definitive agreement to sell its China business to Meituan. On February 10, 2026, the Company further announced its intention to utilize a substantial majority of the proceeds from the sale of its China operations for share repurchase plans and/or dividends upon the closing of the transaction, as well as other material terms of the transaction. As of the date of this release, the transaction has not been completed, and is subject to the satisfaction or waiver of various customary conditions set forth in the Share Purchase Agreement, including the receipt of anti-monopoly clearance from the SAMR (State Administration for Market Regulation). However, under the requirements of standards under US GAAP, the Company needs to separately classify the China business sold to Meituan as discontinued operations and the related assets and liabilities as held-for-sale in the financial statements. Therefore, in the accompanying financial statements, we will distinguish between the overseas business as continuing operations, and the China business as discontinued operations and held-for-sale assets and liabilities. No depreciation or amortization is recorded in the cost and the four categories of expenses for long-lived assets in the China business after being classified as the held-for-sale assets, as assets held for sale are measured at the lower of their carrying amount or fair value less costs to sell according to the relevant standards under US GAAP. This factor has resulted in an increase of our net income by approximately RMB138 million (US$20.0 million) in the current quarter, and this impact will continue to affect the quarterly net income every period prior to the completion of the Meituan transaction. First Quarter 2026 Financial Results Total revenues were RMB5,892.7 million (US$854.3 million), compared with total revenues of RMB5,479.0 million in the same quarter of 2025, representing an increase of 7.5% year over year. Revenue for China business[2] as included in profit from discontinued operations increased by 5.9% year over year to RMB5,753.3 million (US$834.1 million), primarily due to the rise of number of orders resulting from rise in the average monthly number of transacting users and higher monthly order frequency, and newly opened frontline fulfillment stations with density and market penetration improving in Eastern China. The increase was offset by the impact of the price decline in CPI for certain major categories in our business, such as pork, in the first quarter of 2026. Revenue for overseas business increased by 195.2% year over year to RMB139.4 million (US$20.2 million), primarily due to the rise of number of orders resulting from market expansion across various regions and customer base development. Product Revenues were RMB5,800.7 million (US$840.9 million), compared with product revenues of RMB5,386.5 million in the same quarter of 2025, representing an increase of 7.7% year over year. Product revenues for China business increased by 6.0% year over year to RMB5,661.7 million (US$820.8 million). Product revenues for overseas business increased by 194.5% year over year to RMB139.0 million (US$20.2 million). Service Revenues were RMB92.0 million (US$13.3 million), compared with service revenues of RMB92.5 million in the same quarter of 2025, representing a decrease of 0.6% year over year. Service revenues for China business decreased by 1.0% year over year to RMB91.7 million (US$13.3 million). Service revenues for overseas business increased to RMB343.4 thousand (US$50.0 thousand). Total operating costs and expenses were RMB5,799.2 million (US$840.7 million), compared with RMB5,519.0 million in the same quarter of 2025, with a detailed breakdown as below. No depreciation or amortization is recorded in the cost and the four categories of expenses for long-lived assets in the China business after being classified as the held-for-sale assets, as assets held for sale are measured at the lower of its carrying amount or fair value less costs to sell according to the relevant standards under US GAAP. This has also impacted the line items below. Cost of goods sold was RMB4,133.5 million (US$599.2 million), an increase of 7.6% from RMB3,842.1 million in the same quarter of 2025. Cost of goods sold as a percentage of revenues remained the same at 70.1%, compared with that in the same quarter of 2025. Gross margin also remained the same at 29.9%, compared with that in the same quarter of 2025. Since the launch and continued implementation of our 4G Strategy in early 2025, the gross margin for the first quarter of 2026 was generally consistent with that of previous quarters. Fulfillment expenses were RMB1,214.8 million (US$176.1 million), a decrease of 3.3% from RMB1,256.1 million in the same quarter of 2025. Fulfillment expenses as a percentage of total revenues decreased to 20.6% from 22.9% in the same quarter of 2025. Sales and marketing expenses were RMB123.9 million (US$18.0 million), an increase of 12.6% from RMB110.0 million in the same quarter of 2025. Sales and marketing expenses as a percentage of total revenues slightly increase to 2.1%, compared with 2.0% in the same quarter of 2025. The year-on-year increase in marketing expenses is attributable to the increase of staff costs. General and administrative expenses were RMB130.2 million (US$18.9 million), an increase of 15.3% from RMB112.9 million in the same quarter of 2025, mainly driven by staff costs. Product development expenses were RMB196.9 million (US$28.5 million), a slight decrease of 0.5% from RMB198.0 million in the same quarter of 2025. While advocating for energy and resource saving, we will continue to invest in our product development capabilities, agricultural technology, data algorithms, and other technology infrastructure such as the AI technical capability, to further enhance our competitiveness. Income from operations was RMB145.4 million (US$21.1 million), compared with loss from operations of RMB21.2 million in the same quarter of 2025. Net income was RMB165.4 million (US$24.0 million), compared to RMB8.0 million in the same quarter of 2025. Among which, net income for China business increased by 643.5% year over year to RMB236.9 million (US$34.3 million), which was largely due to cease of depreciation or amortization of long-lived assets classified as held-for-sale under US GAAP. This factor has resulted in an increase of our net income by approximately RMB138 million (US$20.0 million) in the current quarter, and this impact will continue to affect the quarterly net income every period prior to the completion of the Meituan transaction. Net loss for overseas business increased by 199.6% year over year to RMB71.4 million (US$10.4 million). Non-GAAP net income, which is a non-GAAP measure that only excludes share-based compensation expenses from net income, was RMB172.0 million (US$24.9 million), an increase of 466.7% from RMB30.3 million in the same quarter of 2025. In addition, non-GAAP net income margin, which is the Company's non-GAAP net income as a percentage of total revenues, was 2.9% compared with 0.6% in the same quarter of 2025. Non-GAAP net income for China business increased by 376.3% year over year to RMB242.1 million (US$35.1 million). Non-GAAP net loss for overseas business increased by 242.4% year over year to RMB70.2 million (US$10.2 million). Similarly, non-GAAP net income was subject to the same factors that affected net income. Basic and diluted net income per share were RMB0.50 (US$0.07) and RMB0.50 (US$0.07), compared with net income per share of RMB0.02 and RMB0.02 in the same quarter of 2025. Non-GAAP net income per share, basic and diluted, were RMB0.52 (US$0.07) and RMB0.52 (US$0.07), compared with RMB0.09 and RMB0.09 in the same quarter of 2025. Cash and cash equivalents, restricted cash and short-term investments were RMB3,820.0 million (US$553.8 million) as of March 31, 2026, compared with RMB3,976.8 million as of December 31, 2025. We have been working diligently to optimize our capital usage and financing structure. The cash and cash equivalents, restricted cash, short-term investments and long-term deposits as included in the other non-current assets deducting the balance of short-term borrowings, is RMB3,210.6 million, a net increase for the twelfth consecutive quarter, compared with RMB3,140.3 million as of December 31, 2025. About Dingdong (Cayman) Limited We are a leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. We directly provide users and households with fresh groceries, prepared food, and other food products through delivering a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers' evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me. Use of Non-GAAP Financial Measures The Company uses non-GAAP measures, such as non-GAAP net income, non-GAAP net income margin, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company's operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this announcement. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue," or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong's strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong's expectations regarding demand for and market acceptance of its products and services; Dingdong's expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong's industry; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law. For investor inquiries, please contact: Dingdong [email protected] View original content:https://www.prnewswire.com/news-releases/dingdong-cayman-limited-announces-first-quarter-2026-financial-results-302778858.html

SHANGHAI, March 4, 2026 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended December 31, 2025. Fourth Quarter 2025 Highlights: GMV for the fourth quarter of 2025 increased by 2.4% year over year to RMB6,703.2 million (US$943.0 million) from RMB6,546.6 million in the same quarter of 2024, positive year-on-year growth for eight straight quarters. Revenue for the fourth quarter of 2025 increased by 5.7% year over year to RMB6,242.6 million (US$892.7 million) from RMB5,905.0 million in the same quarter of 2024, positive year-on-year growth for eight straight quarters. Total number of orders increased by 3.4% year over year in the fourth quarter of 2025. Net income for the fourth quarter of 2025 was RMB33.6 million (US$4.8 million), the eighth consecutive quarter of profitability. Non-GAAP net income for the fourth quarter of 2025 was RMB50.8 million (US$7.3 million), the thirteenth consecutive quarter of non-GAAP profitability. Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, "As of the fourth quarter of 2025, Dingdong has maintained profitability under non-GAAP standards for thirteen consecutive quarters and under GAAP standards for eight consecutive quarters. Also the Company has delivered year-over-year revenue growth for the eighth consecutive quarter. This consistent top-line expansion, together with the steady delivery of profitability objectives, fully underscores Dingdong's strategic resilience and strong execution capabilities amid the complex and competitive market environment. It also provides solid fundamentals and strong momentum to advance our long-term strategic initiatives." Mr. Song Wang, Chief Financial Officer of Dingdong, stated, "In the fourth quarter of 2025, Dingdong reported revenue of RMB6.24 billion, marking a 5.7% year-on-year growth and maintaining positive growth for eight straight quarters. Non-GAAP net profit reached RMB50.8 million with a 0.8% net profit margin, while GAAP net profit was RMB33.6 million with a 0.5% margin. We had net operating cash inflow of RMB0.20 billion in the fourth quarter of 2025, the tenth consecutive quarter of positive cash flow. By the end of the fourth quarter, after deducting short-term borrowings, our actual cash owned increased to RMB3.14 billion, the tenth consecutive quarter of sustained growth." Fourth Quarter 2025 Financial Results Total revenues were RMB6,242.6 million (US$892.7 million) compared with total revenues of RMB5,905.0 million in the same quarter of 2024, increased by 5.7% year over year, primarily due to the rise of number of orders resulting from rise in the average monthly number of transacting users and higher monthly order frequency, and new opened frontline fulfillment stations with density and market penetration improved in East China. Additionally, our B2B revenue achieved year-over-year growth, with the revenue contribution from overseas B2B operations continuing to increase and posting rapid quarter-over-quarter growth. The increase was offset by the impact of the price decline in CPI for certain major categories in our business, such as pork, in the fourth quarter of 2025. Product Revenues were RMB6,164.6 million (US$881.5 million) compared with product revenues of RMB5,822.5 million in the same quarter of 2024, increased by 5.9% year over year. Service Revenues were RMB78.0 million (US$11.2 million) compared with service revenues of RMB82.5 million in the same quarter of 2024, decreased by 5.4% year over year. Total operating costs and expenses were RMB6,252.5 million (US$894.1 million) compared with RMB5,848.0 million in the same quarter of 2024, with a detailed breakdown as below: Cost of goods sold was RMB4,415.9 million (US$631.5 million), an increase of 7.2% from RMB4,120.8 million in the same quarter of 2024. Cost of goods sold as a percentage of revenues increased to 70.7% from 69.8% in the same quarter of 2024. Gross margin decreased to 29.3% from 30.2% in the same quarter of 2024. Since the launch and continued implementation of the 4G Strategy in early 2025, the gross margin for the fourth quarter of 2025 was generally consistent with that of previous quarters, but decreased compared with the same period of the prior year. Fulfillment expenses were RMB1,350.9 million (US$193.2 million), an increase of 5.6% from RMB1,278.9 million in the same quarter of 2024. Fulfillment expenses as a percentage of total revenues slightly decreased to 21.6% from 21.7% in the same quarter of 2024. Sales and marketing expenses were RMB136.7 million (US$19.5 million), a decrease of 0.6% from RMB137.5 million in the same quarter of 2024. Sales and marketing expenses as a percentage of total revenues decreased to 2.2% from 2.3% in the same quarter of 2024. The year-on-year decrease in marketing expenses is attributable to the positive results achieved by the 4G strategy rolled out in the first three quarters. The company has further focused on the operation strategy of leveraging the organic traffic of high-quality products, reduced investment in inefficient marketing activities, and thus improved the input-output efficiency of marketing expenses. General and administrative expenses were RMB130.3 million (US$18.6 million), an increase of 19.3% from RMB109.2 million in the same quarter of 2024, mainly driven by staff costs, specifically from the new "Dong Li Sheng" management trainees. Product development expenses were RMB218.7 million (US$31.3 million), an increase of 8.5% from RMB201.6 million in the same quarter of 2024. While advocating for energy and resource saving, we will continue to invest in our product development capabilities, agricultural technology, data algorithms, and other technology infrastructure such as the AI technical capability, to further enhance our competitiveness. Net income from operations was RMB12.0 million (US$1.7 million), compared with net income from operations of RMB61.5 million in the same quarter of 2024. Non-GAAP income from operations, which is a non-GAAP measure for loss from operations that excludes share-based compensation expenses, was RMB29.1 million (US$4.2 million), compared with Non-GAAP income from operations of RMB86.6 million in the same quarter of 2024. Net income was RMB33.6 million (US$4.8 million), compared with net income of RMB91.6 million in the same quarter of 2024. Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB50.8 million (US$7.3 million), compared with non-GAAP net income of RMB116.7 million in the same quarter of 2024. In addition, non-GAAP net income margin, which is the Company's non-GAAP net income as a percentage of total revenues, was 0.8% compared with 2.0% in the same quarter of 2024. Basic and diluted net income per share were RMB0.10 (US$0.01) and RMB0.09 (US$0.01), compared with net income per share of RMB0.27 and RMB0.26 in the same quarter of 2024. Non-GAAP net income per share, basic and diluted, were RMB0.15 (US$0.02) and RMB0.14 (US$0.02), compared with RMB0.35 and RMB0.33 in the same quarter of 2024. Cash and cash equivalents, restricted cash and short-term investments were RMB3,976.8 million (US$568.7 million) as of December 31, 2025, compared with RMB3,908.2 million as of September 30, 2025. We have been working diligently to optimize our capital usage and financing structure. The cash and cash equivalents, restricted cash, short-term investments and long-term deposits as included in the other non-current assets deducting the balance of short-term borrowings, is RMB3.14 billion, a net increase for the tenth consecutive quarter, compared with RMB3.03 billion as of September 30, 2025. The Definitive Agreement with Meituan On February 5, 2026, the Company announced the entry into a definitive agreement to sell its China business to Meituan. On February 10, 2026, the Company further announced its intention to utilize a substantial majority of the proceeds from the sale of its China operations for share repurchase plans and/or dividends upon the closing of the transaction, as well as other material terms of the transaction. For details, please refer to the Company's previous press releases. About Dingdong (Cayman) Limited We are a leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. We directly provide users and households with fresh groceries, prepared food, and other food products through delivering a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers' evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me. Use of Non-GAAP Financial Measures The Company uses non-GAAP measures, such as non-GAAP net income, non-GAAP net income margin, non-GAAP net income attributable to ordinary shareholders and non-GAAP net income per share, basic and diluted, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company's operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this announcement. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.9931 to US$1.00, the exchange rate on December 31, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue," or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong's strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong's expectations regarding demand for and market acceptance of its products and services; Dingdong's expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong's industry; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law. View original content:https://www.prnewswire.com/news-releases/dingdong-cayman-limited-announces-fourth-quarter-2025-financial-results-302703571.html

The U.S. stock market has recently experienced a downturn, with major indices like the Dow Jones, S&P 500, and Nasdaq all declining due to concerns over AI-related valuations and strategic corporate partnerships. In this environment of uncertainty, growth companies with high insider ownership can offer a unique advantage as they often indicate strong confidence from those who know the business best. Click here to see the full list of 195 stocks from our Fast Growing US Companies With High Insider Ownership screener. Below we spotlight a couple of our favorites from our exclusive screener. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Coincheck Group N.V. operates a cryptocurrency exchange platform in Japan with a market cap of $432.99 million. Operations: The company's revenue segments are not provided in the given text. Insider Ownership: 10.6% Earnings Growth Forecast: 170.9% p.a. Coincheck Group has demonstrated significant growth, with recent earnings showing substantial increases in sales and revenue. Despite a net loss over six months, the company's earnings are forecast to grow significantly at 170.86% annually, and it is expected to become profitable within three years. Although shareholders faced dilution last year, Coincheck trades at good value compared to peers. Revenue is projected to grow faster than the US market average but remains below 20% per year. Click here to discover the nuances of Coincheck Group with our detailed analytical future growth report. Our comprehensive valuation report raises the possibility that Coincheck Group is priced lower than what may be justified by its financials. Simply Wall St Growth Rating: ★★★★★☆ Overview: Alphatec Holdings, Inc. is a medical technology company that focuses on designing and developing technologies for the surgical treatment of spinal disorders, with a market cap of approximately $2.93 billion. Operations: The company's revenue is primarily derived from its Medical Products segment, totaling $728.02 million. Insider Ownership: 10.7% Earnings Growth Forecast: 70.7% p.a. Alphatec Holdings demonstrates potential for growth with a forecasted annual earnings increase of 70.73% and expected profitability within three years. Despite reporting a net loss, the company raised its revenue guidance to US$760 million for 2025. Insider transactions show more buying than selling recently, indicating confidence in its trajectory. Trading below estimated fair value, Alphatec's revenue is projected to grow faster than the US market average but remains under 20% annually. Delve into the full analysis future growth report here for a deeper understanding of Alphatec Holdings. The analysis detailed in our Alphatec Holdings valuation report hints at an inflated share price compared to its estimated value. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Dingdong (Cayman) Limited is an e-commerce company operating in China with a market cap of approximately $370.75 million. Operations: The company generates revenue primarily through its online retail segment, which reported CN¥24.02 billion. Insider Ownership: 28.6% Earnings Growth Forecast: 24.4% p.a. Dingdong (Cayman) is positioned for growth with forecasted annual earnings expansion of 24.35%, surpassing the US market's expected profit increase. Despite a recent dip in net income for Q3 2025, the company's revenue continues to rise year-over-year. Trading significantly below its estimated fair value and offering good relative value compared to peers, Dingdong's anticipated high return on equity further underscores its potential appeal among growth-oriented investors. Dive into the specifics of Dingdong (Cayman) here with our thorough growth forecast report. Our valuation report here indicates Dingdong (Cayman) may be undervalued. Click this link to deep-dive into the 195 companies within our Fast Growing US Companies With High Insider Ownership screener. Searching for a Fresh Perspective? AI is about to change healthcare. These 31 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.The analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years. Companies discussed in this article include CNCK ATEC and DDL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. Revenue: RMB6.66 billion, a 1.9% year-over-year growth. GMV (Gross Merchandise Value): RMB7.27 billion, up 0.1% year-over-year. Non-GAAP Net Profit: RMB0.1 billion with a 1.5% net profit margin. GAAP Net Profit: RMB0.08 billion with a 1.2% margin. Net Operating Cash Inflow: RMB0.14 billion, marking the ninth consecutive quarter of positive cash flow. Cash Reserves: RMB3.03 billion after deducting short-term borrowings. Gross Profit Margin: 28.9%, down 0.9 percentage points year-over-year. Fulfillment Cost Ratio: 21.5%, up by 0.1 percentage points year-over-year. Sales and Marketing Expense Ratio: 1.9%, a decrease of 0.3 percentage points year-over-year. Combined G&A and R&D Expenses: 4.9% of revenue, similar to the previous year. Order Volume Increase: 2.2% year-over-year in Q3. B2B Business Revenue Growth: 67.4% year-over-year. Monthly Order Conversion Rate: Increased by 1.6 percentage points year-over-year. Monthly Ordering Users Growth: 4.1% increase. Average Monthly Order Frequency: 4.6 times, up 4.9% year-over-year. New Fulfillment Stations: 40 new stations opened this year, including 17 in Q3. Warning! GuruFocus has detected 3 Warning Signs with DDL. Is DDL fairly valued? Test your thesis with our free DCF calculator. Release Date: November 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Dingdong (Cayman) Ltd has maintained profitability under non-GAAP standards for 12 consecutive quarters and under GAAP standards for seven consecutive quarters. The company achieved year-over-year revenue growth for the seventh straight quarter, with Q3 2025 revenue reaching RMB6.66 billion. Dingdong's GMV in Q3 2025 was RMB7.27 billion, marking the highest ever quarterly GMV and revenue for the company. The introduction of the 'One Big, One Small, One World' strategy aims to guide the company's next stage of growth, focusing on high-volume top-selling products and expansion into smaller cities and international markets. Dingdong reported a non-GAAP net profit of RMB0.1 billion with a profit margin of 1.5%, and a GAAP net profit of RMB0.08 billion with a margin of 1.2%. The gross profit margin decreased by 0.9 percentage points year-over-year to 28.9%, indicating pressure on profitability. The fulfillment cost ratio increased slightly by 0.1 percentage points compared to last year, reflecting potential challenges in cost management. The instant retail market remains highly competitive, with significant investments from industry giants like Alibaba and Meituan. Despite the growth, the overall market competition has intensified, leading to challenges in maintaining market share. The company's gross profit margins are actively managed to reward consumers, which may impact short-term profitability. Q: The instant retail market remains highly competitive, especially in fresh groceries. How does Dingdong view the current competitive landscape, and what challenges and opportunities does it see? A: An unidentified company representative explained that while the market is competitive, Dingdong focuses on differentiation rather than price wars. They emphasize their 4G strategy to build a high-quality user base and a robust supply chain. This long-term approach aims to build resilience and efficiency, which they believe will be advantageous as the market matures. Q: Could you elaborate on the top-selling product strategy, particularly in relation to the summer sales campaign? A: An unidentified company representative highlighted that Dingdong is shifting from a channel distributor mindset to a product manager mindset. They focus on creating products that resonate with users, leveraging digital technologies to improve supply chain efficiency. The summer campaign validated this strategy, with significant growth in GMV and user repurchase rates for top-selling products. Q: How did Dingdong perform financially in Q3 2025? A: Song Wang, CFO, reported that Dingdong achieved a revenue of RMB6.66 billion, marking a 1.9% year-over-year growth. The company maintained profitability with a non-GAAP net profit of RMB0.1 billion and a GAAP net profit of RMB0.08 billion. They also reported a positive cash flow for the ninth consecutive quarter. Q: What are Dingdong's strategic priorities moving forward? A: Changlin Liang, CEO, outlined the "One Big, One Small, One World" strategy. This includes focusing on high-volume top-selling products, expanding into smaller cities with frontline fulfillment stations, and exploring international markets. The strategy aims to leverage Dingdong's supply chain strengths and product development capabilities. Q: How is Dingdong managing its supply chain to support its growth strategy? A: An unidentified company representative stated that Dingdong is enhancing its supply chain by focusing on core areas, from direct sourcing to digital infrastructure. They aim to build a supply chain capability that is unique to Dingdong, which will be a key asset in the long term. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

SHANGHAI, Nov. 12, 2025 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended September 30, 2025. Third Quarter 2025 Highlights: GMV for the third quarter of 2025 increased by 0.1% year over year to RMB7,273.2 million (US$1,021.7 million) from RMB7,267.0 million in the same quarter of 2024, positive year-on-year growth for seven straight quarters. Revenue for the third quarter of 2025 increased by 1.9% year over year to RMB6,662.4 million (US$935.9 million) from RMB6,538.2 million in the same quarter of 2024, positive year-on-year growth for seven straight quarters. Total number of orders increased by 2.2% year over year in the third quarter of 2025. N et income for the third quarter of 2025 was RMB82.9 million (US$11.6 million), the seventh consecutive quarter of profitability. Non-GAAP net income for the third quarter of 2025 was RMB101.3 million (US$14.2 million), the twelfth consecutive quarter of non-GAAP profitability. Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, "As of the third quarter of 2025, Dingdong has maintained profitability under non-GAAP standards for twelve consecutive quarters and under GAAP standards for seven consecutive quarters. Despite a higher baseline compared to the same period last year, revenue has achieved year-over-year growth, which marks the seventh straight quarters. This sustained expansion and steady achievement of profit targets fully demonstrate Dingdong's strategic resilience and execution excellence amid the current complex market and competitive landscape, providing strong momentum for advancing our long-term strategy. Building on the "One Big, One Small, One World" framework introduced in the third quarter, and leveraging our strengths in supply chain, product development, and IT systems bolstered by sustained profitability and solid cash reserves, Dingdong is confident in forging a unique, quality-focused, efficient, and resilient growth path through intense competition—and in maintaining last year's scale and non-GAAP profitability in the fourth quarter." Mr. Song Wang, Chief Financial Officer of Dingdong, stated, "In the third quarter of 2025, Dingdong reported revenue of RMB6.66 billion, marking a 1.9% year-on-year growth and maintaining positive growth for seven straight quarters. Non-GAAP net profit reached RMB0.1 billion with a 1.5% net profit margin, while GAAP net profit was RMB0.08 billion with a 1.2% margin. We had net operating cash inflow of RMB0.14 billion in the third quarter of 2025, the ninth consecutive quarter of positive cash flow. By the end of the third quarter, after deducting short-term borrowings, our actual cash owned increased to RMB3.03 billion." Third Quarter 2025 Financial Results Total revenues were RMB6,662.4 million (US$935.9 million) compared with total revenues of RMB6,538.2 million in the same quarter of 2024, increased by 1.9% year over year, primarily due to the rise of number of orders resulting from rise in the average monthly number of transacting users and higher monthly order frequency, and new opened frontline fulfillment stations with density and market penetration improved in East China. The increase was offset by the impact of the price decline in CPI for certain major categories in our business, such as pork, eggs and vegetables, in the third quarter of 2025 and suspension of operations for a number of stations in the third quarter of 2024. Product Revenues were RMB6,573.1 million (US$923.3 million) compared with product revenues of RMB6,458.4 million in the same quarter of 2024, increased by 1.8% year over year. Service Revenues were RMB89.3 million (US$12.5 million) compared with service revenues of RMB79.8 million in the same quarter of 2024, increased by 11.9% year over year. Total operating costs and expenses were RMB6,621.6 million (US$930.1 million) compared with RMB6,438.5 million in the same quarter of 2024, with a detailed breakdown as below: Cost of goods sold was RMB4,739.8 million (US$665.8 million), an increase of 3.2% from RMB4,591.4 million in the same quarter of 2024. Cost of goods sold as a percentage of revenues increased to 71.1% from 70.2% in the same quarter of 2024. Gross margin decreased to 28.9% from 29.8% in the same quarter of 2024. The cost implications arising from product listing and delisting due to the implementation of 4G strategy of "good users, good products, good services, and good mindshare". Fulfillment expenses were RMB1,430.6 million (US$201.0 million), an increase of 2.3% from RMB1,397.8 million in the same quarter of 2024. Fulfillment expenses as a percentage of total revenues slightly increased to 21.5% from 21.4% in the same quarter of 2024. Sales and marketing expenses were RMB127.7 million (US$17.9 million), a decrease of 11.9% from RMB144.9 million in the same quarter of 2024. Sales and marketing expenses as a percentage of total revenues decreased to 1.9% from 2.2% in the same quarter of 2024. The traffic and promotional effects generated by the "Good Products" and "Hero Products" Strategy have replaced some of the original marketing campaigns, thereby saving corresponding expenses. General and administrative expenses were RMB120.1 million (US$16.9 million), an increase of 17.7% from RMB102.0 million in the same quarter of 2024, mainly driven by staff costs, specifically from the new "Dong Li Sheng" management trainees. Product development expenses were RMB203.4 million (US$28.6 million), a slight increase of 0.5% from RMB202.4 million in the same quarter of 2024. While advocating for energy and resource saving, we will continue to invest in our product development capabilities, agricultural technology, data algorithms, and other technology infrastructure such as the AI technical capability, to further enhance our competitiveness. Net income from operations was RMB59.3 million (US$8.3 million), compared with net income from operations of RMB110.5 million in the same quarter of 2024. Non-GAAP income from operations, which is a non-GAAP measure for income from operations that excludes share-based compensation expenses, was RMB77.7 million (US$10.9 million), compared with Non-GAAP income from operations of RMB138.8 million in the same quarter of 2024. Net income was RMB82.9 million (US$11.6 million), compared with net income of RMB133.4 million in the same quarter of 2024. Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB101.3 million (US$14.2 million), compared with non-GAAP net income of RMB161.6 million in the same quarter of 2024. In addition, non-GAAP net income margin, which is the Company's non-GAAP net income as a percentage of total revenues, was 1.5% compared with 2.5% in the same quarter of 2024. Basic and diluted net income per share were RMB0.25 (US$0.04) and RMB0.24 (US$0.03), compared with net income per share of RMB0.40 in the same quarter of 2024. Non-GAAP net income per share, basic and diluted, were RMB0.31 (US$0.05) and RMB0.29 (US$0.04), compared with RMB0.49 in the same quarter of 2024. Cash and cash equivalents , restricted cash and short-term investments were RMB3,908.2 million (US$549.0 million) as of September 30, 2025, compared with RMB3,974.2 million as of June 30, 2025. We have been working diligently to optimize our capital usage and financing structure. The cash and cash equivalents, restricted cash, short-term investments and long-term deposits as included in the other non-current assets deducting the balance of short-term borrowings, is RMB3.03 billion, a net increase for the ninth consecutive quarter, compared with RMB2.95 billion as of June 30, 2025. Guidance The Company is looking to maintain scale year-over-year and achieve non-GAAP profits in the fourth quarter of 2025. Conference Call The Company's management will hold an earnings conference call at 7:00 A.M. Eastern Time on Wednesday, November 12, 2025 (8:00 P.M. Beijing Time on the same day) to discuss the financial results. The presentation and question and answer session will be presented in both Mandarin and English. Listeners may access the call by dialing the following numbers: The replay will be accessible through November 19, 2025 by dialing the following numbers: A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.100.me. About Dingdong (Cayman) Limited We are a leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. We directly provide users and households with fresh groceries, prepared food, and other food products through delivering a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers' evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me. Use of Non-GAAP Financial Measures The Company uses non-GAAP measures, such as non-GAAP net income, non-GAAP net income margin, non-GAAP net income attributable to ordinary shareholders and non-GAAP net income per share, basic and diluted, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company's operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliation of GAAP and Non-GAAP Results" set forth at the end of this announcement. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.1190 to US$1.00, the exchange rate on September 30, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue," or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong's strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong's expectations regarding demand for and market acceptance of its products and services; Dingdong's expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong's industry; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law. View original content:https://www.prnewswire.com/news-releases/dingdong-cayman-limited-announces-third-quarter-2025-financial-results-302612689.html