DINGDONG（CAYMAN）LIMITED en_US PRN Asia Dingdong (Cayman) Limited Announces First Quarter 2026 Financial Results 2026-05-21 19:30:00 . 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 Fresh ir@100.me     DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of RMB and US$) The China business is reported as discontinued operations in the consolidated statements of comprehensive loss for the current period and the comparative period in accordance with ASC 210-05,  Discontinued Operations as the disposal plan of the China business represented a strategic shift that had a major effect on the Group's operations and financial results. Further, the related current and non-current assets and liabilities associated with the China business are reflected as held for sale in the consolidated balance sheets at December 31, 2025 and March 31, 2026. As of December 31, 2025 March 31, 2026 March 31, 2026 RMB RMB US$ ASSETS Current assets: Cash and cash equivalents 45,722 212,045 30,740 Short-term investments - 159,146 23,071 Accounts receivable, net 48,727 41,655 6,039 Inventories, net 39,179 24,369 3,533 Advance to suppliers 63,638 65,414 9,483 Prepayments and other current assets 11,876 14,221 2,062 Assets held for sale 4,830,947 6,368,856 923,290 Total current assets 5,040,089 6,885,706 998,218 Non-current assets: Property and equipment, net 3,883 17,564 2,546 Operating lease right-of-use assets 280 126 18 Other non-current assets 15,418 9,419 1,366 Assets held for sale 1,956,498 - - Total non-current assets 1,976,079 27,109 3,930 TOTAL ASSETS 7,016,168 6,912,815 1,002,148 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 47,608 76,930 11,153 Customer advances and deferred revenue 1,242 3,942 571 Accrued expenses and other current liabilities 4,664 12,279 1,780 Salary and welfare payable 3,713 30,957 4,488 Operating lease liabilities, current - 125 18 Liabilities held for sale 4,737,340 5,472,607 793,361 Total current liabilities 4,794,567 5,596,840 811,371 Non-current liabilities: Operating lease liabilities, non-current 287 - - Liabilities held for sale 1,045,097 - - Total non-current liabilities 1,045,384 - - TOTAL LIABILITIES 5,839,951 5,596,840 811,371     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in thousands of RMB and US$) As of December 31, 2025 March 31, 2026 March 31, 2026 RMB RMB US$ LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (CONTINUED) Mezzanine Equity: Redeemable noncontrolling interests 135,435 138,030 20,010 TOTAL MEZZANINE EQUITY 135,435 138,030 20,010 Shareholders' equity: Ordinary shares 4 4 1 Additional paid-in capital 14,260,014 14,266,576 2,068,219 Treasury stock (59,969) (59,969) (8,694) Accumulated deficit (13,163,215) (13,000,373) (1,884,657) Accumulated other comprehensive      income/(loss) 3,948 (28,293) (4,102) TOTAL SHAREHOLDERS' EQUITY 1,040,782 1,177,945 170,767 TOTAL LIABILITIES, MEZZANINE EQUITY      AND SHAREHOLDERS' EQUITY 7,016,168 6,912,815 1,002,148     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended March 31, 2025 2026 2026 RMB RMB US$ Revenues: Product revenues 47,220 139,048 20,157 Service revenues 3 343 50 Total revenues 47,223 139,391 20,207 Operating costs and expenses: Cost of goods sold (43,552) (129,263) (18,739) Fulfillment expenses (18,272) (41,191) (5,971) Sales and marketing expenses (1,119) (10,310) (1,495) Product development expenses (2,146) (12,022) (1,743) General and administrative expenses (6,221) (15,212) (2,205) Total operating costs and expenses (71,310) (207,998) (30,153) Other operating loss, net (440) (4,059) (588) Income from operations (24,527) (72,666) (10,534) Interest income 568 581 84 Other income, net 137 659 95 Income before income tax (23,822) (71,426) (10,355) Income tax expenses (20) (2) - Net loss from continuing operations (23,842) (71,428) (10,355) Net income from discontinued operations, net of tax 31,859 236,865 34,338 Net income 8,017 165,437 23,983 Net loss from discontinued operations attributable to      redeemable noncontrolling interests (2,402) (2,595) (376) Net income attributable to ordinary shareholders 5,615 162,842 23,607     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED) (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended March 31, 2025 2026 2026 RMB RMB US$ Net income per Class A and Class B ordinary share: Basic   Continuing operations (0.07) (0.22) (0.03)   Discontinued operations 0.09 0.72 0.10 Diluted   Continuing operations (0.07) (0.22) (0.03)   Discontinued operations 0.09 0.72 0.10 Basic net income per share attributable to Class A and      Class B ordinary shareholders 0.02 0.50 0.07 Diluted net income per share attributable to Class A      and Class B ordinary shareholders 0.02 0.50 0.07 Shares used in net income per Class A and Class B      ordinary share computation: Basic 324,576,757 324,883,084 324,883,084 Diluted 324,576,757 324,883,084 324,883,084 Other comprehensive loss, net of tax of nil: Foreign currency translation adjustments from      continuing operations (3,933) (37,782) (5,477) Foreign currency translation adjustments from      discontinued operations 802 5,543 804 Total other comprehensive loss from continuing operations (27,775) (109,210) (15,832) Total other comprehensive income from discontinued operation 32,661 242,408 35,142 Comprehensive income 4,886 133,198 19,310 Net loss from discontinued operations attributable to redeemable noncontrolling interests (2,402) (2,595) (376) Comprehensive income attributable to ordinary shareholders 2,484 130,603 18,934       DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of RMB and US$) For the three months ended March 31, 2025 2026 2026 RMB RMB US$ Net cash (used in)/generated from continuing operating      activities (9,555) 15,758 2,284 Net cash generated from discontinued operating activities 94,789 130,952 18,984 Net cash generated from operating activities 85,234 146,710 21,268 Net cash generated from/(used in) continuing investing      activities 1,897 (168,317) (24,401) Net cash generated from discontinued investing activities 439,789 619,329 89,784 Net cash generated from investing activities 441,686 451,012 65,383 Net cash used in continuing financing activities - - - Net cash used in discontinued financing activities (199,911) (196,814) (28,532) Net cash used in financing activities (199,911) (196,814) (28,532) Effect of exchange rate changes on cash and cash      equivalents and restricted cash (231) (5,275) (764) Net increase in cash and cash equivalents and      restricted cash 326,778 395,633 57,355 Cash and cash equivalents and restricted cash at the      beginning of the period 890,215 1,107,136 160,501 Cash and cash equivalents and restricted cash at the      end of the period 1,216,993 1,502,769 217,856 Less: Cash and cash equivalents and restricted cash held      for sales at end of the period 1,158,834 1,290,724 187,116 Cash and cash equivalents and restricted cash from      continuing operations at the end of the period 58,159 212,045 30,740       DINGDONG (CAYMAN) LIMITED  UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended March 31, 2025 2026 2026 RMB RMB US$ Net loss from continuing operations (23,842) (71,428) (10,355) Add: Share-based compensation expenses of continuing operations 3,353 1,274 185 Non-GAAP net loss from continuing operations (20,489) (70,154) (10,170) Net income from discontinued operations 31,859 236,865 34,338 Add: Share-based compensation expenses of discontinued operations 18,976 5,255 762 Non-GAAP net income from discontinued operations 50,835 242,120 35,100 Total Non-GAAP net income 30,346 171,966 24,930     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: As of December 31, 2025 March 31, 2026 March 31, 2026 RMB RMB US$ (in thousands) Cash and cash equivalents 1,061,073 1,290,264 187,049 Restricted cash 340 460 67 Short-term investments 2,869,681 2,157,988 312,843 Accounts receivable, net 143,212 146,511 21,240 Inventories, net 531,306 453,713 65,775 Advance to suppliers 50,466 42,646 6,182 Prepayments and other current assets 174,869 174,475 25,292 Property and equipment, net - 241,252 34,974 Operating lease right-of-use assets - 1,678,026 243,263 Other non-current assets - 183,521 26,605 Total current assets classified as held for sale 4,830,947 6,368,856 923,290 Property and equipment, net 228,874 - - Operating lease right-of-use assets 1,579,819 - - Other non-current assets 147,805 - - Total non-current assets classified as held for sale 1,956,498 - - Accounts payable 1,872,734 1,766,724 256,121 Customer advances and deferred revenue 272,019 265,327 38,464 Accrued expenses and other current liabilities 751,954 753,144 109,184 Salary and welfare payable 300,818 314,572 45,603 Operating lease liabilities, current 668,295 665,511 96,479 Short-term borrowings 871,520 674,344 97,759 Operating lease liabilities, non-current - 884,227 128,186 Other non-current liabilities - 148,758 21,565 Total current liabilities classified as held for sale 4,737,340 5,472,607 793,361 Operating lease liabilities, non-current 897,524 - - Other non-current liabilities 147,573 - - Total non-current liabilities classified as held for sale 1,045,097 - -     For the three months ended March 31, 2025 2026 2026 RMB RMB US$ (in thousands) Revenues: Product revenues 5,339,280 5,661,663 820,769 Service revenues 92,536 91,650 13,286 Total revenues 5,431,816 5,753,313 834,055 Operating costs and expenses: Cost of goods sold (3,798,554) (4,004,233) (580,492) Fulfillment expenses (1,237,822) (1,173,653) (170,143) Sales and marketing expenses (108,834) (113,542) (16,460) Product development expenses (195,823) (184,864) (26,800) General and administrative expenses (106,660) (114,938) (16,663) Total operating costs and expenses (5,447,693) (5,591,230) (810,558) Other operating income, net 19,163 55,948 8,111 Income from discontinued operations 3,286 218,031 31,608 Interest income 34,555 23,685 3,434 Interest expenses (5,964) (2,381) (345) Other income/(expenses), net 1,520 (225) (33) Income before income tax 33,397 239,110 34,664 Income tax expenses (1,538) (2,245) (326) Net income from discontinued operations 31,859 236,865 34,338   ]]> 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.

[1] The Company presents the total amounts of certain line items, which represent the aggregate figures encompassing both continuing operations (overseas business) and discontinued operations (domestic China business).

[2] The Company also discloses figures pertaining to its China business, which are classified within profit generated from discontinued operations. In addition, the Company separately presents data relating to its overseas business.

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 Fresh
ir@100.me

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of RMB and US$)

The China business is reported as discontinued operations in the consolidated statements of comprehensive loss for

the current period and the comparative period in accordance with ASC 210-05, Discontinued Operations as the

disposal plan of the China business represented a strategic shift that had a major effect on the Group's operations and

financial results. Further, the related current and non-current assets and liabilities associated with the China business

are reflected as held for sale in the consolidated balance sheets at December 31, 2025 and March 31, 2026.



As of



December 31,

2025

March 31,

2026

March 31,

2026



RMB

RMB

US$








ASSETS









Current assets:









Cash and cash equivalents

45,722

212,045

30,740

Short-term investments

-

159,146

23,071

Accounts receivable, net

48,727

41,655

6,039

Inventories, net

39,179

24,369

3,533

Advance to suppliers

63,638

65,414

9,483

Prepayments and other current assets

11,876

14,221

2,062

Assets held for sale

4,830,947

6,368,856

923,290

Total current assets

5,040,089

6,885,706

998,218











Non-current assets:









Property and equipment, net

3,883

17,564

2,546

Operating lease right-of-use assets

280

126

18

Other non-current assets

15,418

9,419

1,366

Assets held for sale

1,956,498

-

-

Total non-current assets

1,976,079

27,109

3,930











TOTAL ASSETS

7,016,168

6,912,815

1,002,148











LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY

Current liabilities:









Accounts payable

47,608

76,930

11,153

Customer advances and deferred revenue

1,242

3,942

571

Accrued expenses and other current liabilities

4,664

12,279

1,780

Salary and welfare payable

3,713

30,957

4,488

Operating lease liabilities, current

-

125

18

Liabilities held for sale

4,737,340

5,472,607

793,361

Total current liabilities

4,794,567

5,596,840

811,371











Non-current liabilities:









Operating lease liabilities, non-current

287

-

-

Liabilities held for sale

1,045,097

-

-

Total non-current liabilities

1,045,384

-

-











TOTAL LIABILITIES

5,839,951

5,596,840

811,371

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands of RMB and US$)




As of



December 31,

2025

March 31,

2026

March 31,

2026



RMB

RMB

US$








LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY (CONTINUED)

Mezzanine Equity:









Redeemable noncontrolling interests

135,435

138,030

20,010











TOTAL MEZZANINE EQUITY

135,435

138,030

20,010











Shareholders' equity:









Ordinary shares

4

4

1

Additional paid-in capital

14,260,014

14,266,576

2,068,219

Treasury stock

(59,969)

(59,969)

(8,694)

Accumulated deficit

(13,163,215)

(13,000,373)

(1,884,657)

Accumulated other comprehensive

     income/(loss)

3,948

(28,293)

(4,102)











TOTAL SHAREHOLDERS' EQUITY

1,040,782

1,177,945

170,767











TOTAL LIABILITIES, MEZZANINE EQUITY

     AND SHAREHOLDERS' EQUITY

7,016,168

6,912,815

1,002,148











 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended

March 31,



2025

2026

2026



RMB

RMB

US$





Revenues:









Product revenues

47,220

139,048

20,157

Service revenues

3

343

50











Total revenues

47,223

139,391

20,207











Operating costs and expenses:









Cost of goods sold

(43,552)

(129,263)

(18,739)

Fulfillment expenses

(18,272)

(41,191)

(5,971)

Sales and marketing expenses

(1,119)

(10,310)

(1,495)

Product development expenses

(2,146)

(12,022)

(1,743)

General and administrative expenses

(6,221)

(15,212)

(2,205)











Total operating costs and expenses

(71,310)

(207,998)

(30,153)






















Other operating loss, net

(440)

(4,059)

(588)

Income from operations

(24,527)

(72,666)

(10,534)

Interest income

568

581

84

Other income, net

137

659

95






















Income before income tax

(23,822)

(71,426)

(10,355)






















Income tax expenses

(20)

(2)

-











Net loss from continuing operations

(23,842)

(71,428)

(10,355)

Net income from discontinued operations, net of tax

31,859

236,865

34,338

Net income



8,017

165,437

23,983











Net loss from discontinued operations attributable to

     redeemable noncontrolling interests

(2,402)

(2,595)

(376)











Net income attributable to ordinary shareholders

5,615

162,842

23,607












 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED)

(Amounts in thousands of RMB and US$, except for number of shares and per share data)















For the three months ended

March 31,



2025

2026

2026



RMB

RMB

US$





Net income per Class A and Class B ordinary share:









Basic









  Continuing operations

(0.07)

(0.22)

(0.03)

  Discontinued operations

0.09

0.72

0.10

Diluted









  Continuing operations

(0.07)

(0.22)

(0.03)

  Discontinued operations

0.09

0.72

0.10

Basic net income per share attributable to Class A and

     Class B ordinary shareholders

0.02

0.50

0.07

Diluted net income per share attributable to Class A

     and Class B ordinary shareholders

0.02

0.50

0.07

Shares used in net income per Class A and Class B

     ordinary share computation:









Basic

324,576,757

324,883,084

324,883,084

Diluted

324,576,757

324,883,084

324,883,084

Other comprehensive loss, net of tax of nil:









Foreign currency translation adjustments from

     continuing operations

(3,933)

(37,782)

(5,477)

Foreign currency translation adjustments from

     discontinued operations

802

5,543

804











Total other comprehensive loss from continuing

operations

(27,775)

(109,210)

(15,832)

Total other comprehensive income from discontinued

operation

32,661

242,408

35,142

Comprehensive income

4,886

133,198

19,310











Net loss from discontinued operations attributable to

redeemable noncontrolling interests

(2,402)

(2,595)

(376)











Comprehensive income attributable to ordinary

shareholders

2,484

130,603

18,934











 

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)















For the three months ended

March 31,



2025

2026

2026



RMB

RMB

US$
















Net cash (used in)/generated from continuing operating

     activities

(9,555)

15,758

2,284

Net cash generated from discontinued operating activities

94,789

130,952

18,984

Net cash generated from operating activities

85,234

146,710

21,268











Net cash generated from/(used in) continuing investing

     activities

1,897

(168,317)

(24,401)

Net cash generated from discontinued investing activities

439,789

619,329

89,784

Net cash generated from investing activities

441,686

451,012

65,383











Net cash used in continuing financing activities

-

-

-

Net cash used in discontinued financing activities

(199,911)

(196,814)

(28,532)

Net cash used in financing activities



(199,911)

(196,814)

(28,532)











Effect of exchange rate changes on cash and cash

     equivalents and restricted cash

(231)

(5,275)

(764)

Net increase in cash and cash equivalents and

     restricted cash

326,778

395,633

57,355











Cash and cash equivalents and restricted cash at the

     beginning of the period

890,215

1,107,136

160,501

Cash and cash equivalents and restricted cash at the

     end of the period

1,216,993

1,502,769

217,856

Less: Cash and cash equivalents and restricted cash held

     for sales at end of the period

1,158,834

1,290,724

187,116

Cash and cash equivalents and restricted cash from

     continuing operations at the end of the period

58,159

212,045

30,740











 

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended
March 31,



2025

2026

2026



RMB

RMB

US$











Net loss from continuing operations

(23,842)

(71,428)

(10,355)

Add: Share-based compensation expenses of continuing operations

3,353

1,274

185

Non-GAAP net loss from continuing operations

(20,489)

(70,154)

(10,170)











Net income from discontinued operations

31,859

236,865

34,338

Add: Share-based compensation expenses of discontinued operations

18,976

5,255

762

Non-GAAP net income from discontinued operations

50,835

242,120

35,100











Total Non-GAAP net income

30,346

171,966

24,930

 

 

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:




As of



December 31,

2025

March 31,

2026

March 31,

2026



RMB

RMB

US$




(in thousands)

Cash and cash equivalents

1,061,073

1,290,264

187,049

Restricted cash

340

460

67

Short-term investments

2,869,681

2,157,988

312,843

Accounts receivable, net

143,212

146,511

21,240

Inventories, net

531,306

453,713

65,775

Advance to suppliers

50,466

42,646

6,182

Prepayments and other current assets

174,869

174,475

25,292

Property and equipment, net

-

241,252

34,974

Operating lease right-of-use assets

-

1,678,026

243,263

Other non-current assets

-

183,521

26,605

Total current assets classified as held for sale

4,830,947

6,368,856

923,290











Property and equipment, net

228,874

-

-

Operating lease right-of-use assets

1,579,819

-

-

Other non-current assets

147,805

-

-

Total non-current assets classified as held for sale

1,956,498

-

-






















Accounts payable

1,872,734

1,766,724

256,121

Customer advances and deferred revenue

272,019

265,327

38,464

Accrued expenses and other current liabilities

751,954

753,144

109,184

Salary and welfare payable

300,818

314,572

45,603

Operating lease liabilities, current

668,295

665,511

96,479

Short-term borrowings

871,520

674,344

97,759

Operating lease liabilities, non-current

-

884,227

128,186

Other non-current liabilities

-

148,758

21,565

Total current liabilities classified as held for sale

4,737,340

5,472,607

793,361











Operating lease liabilities, non-current

897,524

-

-

Other non-current liabilities

147,573

-

-

Total non-current liabilities classified as held for sale

1,045,097

-

-











 

 

For the three months ended

March 31,



2025

2026

2026



RMB

RMB

US$



(in thousands)


Revenues:









Product revenues

5,339,280

5,661,663

820,769

Service revenues

92,536

91,650

13,286











Total revenues

5,431,816

5,753,313

834,055











Operating costs and expenses:









Cost of goods sold

(3,798,554)

(4,004,233)

(580,492)

Fulfillment expenses

(1,237,822)

(1,173,653)

(170,143)

Sales and marketing expenses

(108,834)

(113,542)

(16,460)

Product development expenses

(195,823)

(184,864)

(26,800)

General and administrative expenses

(106,660)

(114,938)

(16,663)











Total operating costs and expenses

(5,447,693)

(5,591,230)

(810,558)











Other operating income, net

19,163

55,948

8,111

Income from discontinued operations

3,286

218,031

31,608

Interest income

34,555

23,685

3,434

Interest expenses

(5,964)

(2,381)

(345)

Other income/(expenses), net

1,520

(225)

(33)











Income before income tax

33,397

239,110

34,664











Income tax expenses

(1,538)

(2,245)

(326)











Net income from discontinued operations

31,859

236,865

34,338











 

]]> Dingdong to Report First Quarter 2026 Financial Results on May 21, 2026 2026-05-20 15:00:00 . ]]> SHANGHAI, May 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 that it will report its unaudited financial results for the first quarter ended March 31, 2026, before U.S. markets open on May 21, 2026.

About Dingdong (Cayman) Limited 
Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

]]> Dingdong Files Its Annual Report on Form 20-F 2026-04-24 19:30:00 . The Company will also provide a hard copy of its Annual Report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. About Dingdong (Cayman) Limited Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me . ]]> SHANGHAI, April 24, 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 that it filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission on April 24, 2026.

The Annual Report can be accessed on the Company's investor relations website at https://ir.100.me. The Company will also provide a hard copy of its Annual Report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.

About Dingdong (Cayman) Limited

Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

]]> Dingdong (Cayman) Limited Announces Results of 2026 Annual General Meeting 2026-03-27 21:00:00 .    ]]> SHANGHAI, March 27, 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 that each of the proposed resolutions submitted for shareholders' approval as set forth in the notice of annual general meeting dated March 10, 2026 has been adopted at its 2026 annual general meeting of shareholders held in Shanghai, China today.

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. 

 

]]> Dingdong (Cayman) Limited to Hold 2026 Annual General Meeting of Shareholders on March 27, 2026 2026-03-10 19:00:00 . The board of directors of the Company fully supports the proposed resolutions set out in the AGM Notice and recommends that shareholders and holders of the Company's American depositary shares ("ADSs") vote in favor of these resolutions. The board of directors of the Company has fixed the close of business on March 9, 2026, Shanghai time as the record date for determining holders of the Company's ordinary shares entitled to receive notice of, attend and vote at the AGM or any adjournment or postponement thereof (the "Ordinary Share Record Date "). Holders of record of the Company's ADSs at the close of business onFriday, March 6, 2026, New York time (the "ADS Record Date", and together with the Ordinary Share Record Date, the "Record Date") who wish to exercise their voting rights must give voting instructions to Deutsche Bank Trust Company Americas, the depositary of the Company's ADSs. Shareholders and ADS holders may access the Company's public filings free of charge at the Company's investor relations websitehttps://ir.100.me , and on the SEC's website www.sec.gov . About Dingdong (Cayman) Limited Dingdong (Cayman) Limited is a leading fresh grocery e-commerce company in mainlandChina, 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 . 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, operational, share repurchase and dividend 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, 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: the successful completion of the Transaction; Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the on-demand e-commerce market inChina; 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; Dingdong's proposed use of proceeds; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and inChina 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 Securities and Exchange Commission. 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. ]]> SHANGHAI, March 10, 2026 /PRNewswire/ -- Dingdong (Cayman) Limited (the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, today announced that it will hold the 2026 annual general meeting of shareholders (the "AGM") at Building T4, Zhangjiang Science Gate, Lane 188 Yuren Road, Pudong District, Shanghai 201210, People's Republic of China on March 27, 2026 at 8:00 PM Shanghai time.

The purpose of the AGM is for the Company's shareholders to consider and, if thought fit, pass each of the proposed resolutions set forth in the notice of the AGM (the "AGM Notice"). The AGM Notice, which contains detailed proposals and additional information regarding the AGM, and the form of proxy for the AGM are available on the Company's website at https://ir.100.me. The board of directors of the Company fully supports the proposed resolutions set out in the AGM Notice and recommends that shareholders and holders of the Company's American depositary shares ("ADSs") vote in favor of these resolutions.

The board of directors of the Company has fixed the close of business on March 9, 2026, Shanghai time as the record date for determining holders of the Company's ordinary shares entitled to receive notice of, attend and vote at the AGM or any adjournment or postponement thereof (the "Ordinary Share Record Date"). Holders of record of the Company's ADSs at the close of business on Friday, March 6, 2026, New York time (the "ADS Record Date", and together with the Ordinary Share Record Date, the "Record Date") who wish to exercise their voting rights must give voting instructions to Deutsche Bank Trust Company Americas, the depositary of the Company's ADSs.

Shareholders and ADS holders may access the Company's public filings free of charge at the Company's investor relations website https://ir.100.me, and on the SEC's website www.sec.gov.

About Dingdong (Cayman) Limited

Dingdong (Cayman) Limited is 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.

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, operational, share repurchase and dividend 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, 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: the successful completion of the Transaction; Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the on-demand e-commerce 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; Dingdong's proposed use of proceeds; 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 Securities and Exchange Commission. 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.

]]> Dingdong (Cayman) Limited Announces Fourth Quarter 2025 Financial Results 2026-03-04 19:00:00 . 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 ofRMB6.9931 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 inChina; 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 inChina 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.   DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS  (Amounts in thousands of RMB and US$) As of December 31, 2024 December 31, 2025 December 31, 2025 RMB RMB US$ (Unaudited) ASSETS Current assets: Cash and cash equivalents 887,427 1,106,795 158,270 Restricted cash 2,788 340 49 Short-term investments 3,561,977 2,869,681 410,359 Accounts receivable, net 125,896 191,939 27,447 Inventories, net 553,601 570,485 81,578 Advance to suppliers 62,730 114,105 16,317 Prepayments and other current assets 170,753 186,744 26,704 Total current assets 5,365,172 5,040,089 720,724 Non-current assets: Property and equipment, net 176,290 232,757 33,284 Operating lease right-of-use assets 1,464,791 1,580,099 225,951 Other non-current assets 111,395 163,223 23,341 Total non-current assets 1,752,476 1,976,079 282,576 TOTAL ASSETS 7,117,648 7,016,168 1,003,300 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 1,660,472 1,920,341 274,605 Customer advances and deferred revenue 279,276 273,260 39,076 Accrued expenses and other current   liabilities 767,080 760,613 108,766 Salary and welfare payable 317,152 304,531 43,547 Operating lease liabilities, current 640,245 664,304 94,994 Short-term borrowings 1,606,253 871,520 124,626 Total current liabilities 5,270,478 4,794,569 685,614 Non-current liabilities: Operating lease liabilities, non-current 780,036 897,811 128,385 Other non-current liabilities 143,118 147,573 21,103 Total non-current liabilities 923,154 1,045,384 149,488 TOTAL LIABILITIES 6,193,632 5,839,953 835,102   DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)  (Amounts in thousands of RMB and US$) As of December 31,  2024 December 31,  2025 December 31,  2025 RMB RMB US$ (Unaudited) LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (CONTINUED) Mezzanine Equity: Redeemable noncontrolling interests 125,405 135,435 19,367 TOTAL MEZZANINE EQUITY 125,405 135,435 19,367 Shareholders' equity: Ordinary shares 4 4 1 Additional paid-in capital 14,181,030 14,260,014 2,039,155 Treasury stock (51,176) (59,969) (8,575) Accumulated deficit (13,384,881) (13,163,217) (1,882,315) Accumulated other comprehensive income 53,634 3,948 565 TOTAL SHAREHOLDERS' EQUITY 798,611 1,040,780 148,831 TOTAL LIABILITIES, MEZZANINE EQUITY   AND SHAREHOLDERS' EQUITY   7,117,648   7,016,168   1,003,300   DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended December 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Revenues: Product revenues 5,822,527 6,164,574 881,522 Service revenues 82,495 78,010 11,155 Total revenues 5,905,022 6,242,584 892,677 Operating costs and expenses: Cost of goods sold (4,120,793) (4,415,876) (631,462) Fulfillment expenses (1,278,904) (1,350,900) (193,176) Sales and marketing expenses (137,513) (136,662) (19,542) Product development expenses (201,632) (218,731) (31,278) General and administrative expenses (109,195) (130,303) (18,633) Total operating costs and expenses (5,848,037) (6,252,472) (894,091) Other operating income, net 4,534 21,873 3,128 Income from operations 61,519 11,985 1,714 Interest income 37,879 27,345 3,910 Interest expenses (6,852) (2,836) (406) Other income/(expenses), net 2,875 (913) (131) Income before income tax 95,421 35,581 5,087 Income tax expenses (3,830) (1,980) (283) Net income 91,591 33,601 4,804 Accretion of redeemable noncontrolling interests (2,409) (2,602) (372) Net income attributable to ordinary shareholders 89,182 30,999 4,432   DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED) (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended December 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Net income per Class A and Class B ordinary share: Basic 0.27 0.10 0.01 Diluted 0.26 0.09 0.01 Shares used in net income per Class A and Class B   ordinary share computation: Basic 324,500,919 324,832,508 324,832,508 Diluted 337,933,639 336,937,358 336,937,358 Other comprehensive loss, net of tax of nil: Foreign currency translation adjustments 55,517 (23,784) (3,401) Comprehensive income 147,108 9,817 1,403 Accretion of redeemable noncontrolling interests (2,409) (2,602) (372) Comprehensive income attributable to ordinary   shareholders 144,699 7,215 1,031   DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of RMB and US$) For the three months ended December 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Net cash generated from operating activities 190,878 204,469 29,239 Net cash (used in)/generated from investing activities (158,850) 125,524 17,950 Net cash used in financing activities (49,678) (53,242) (7,614) Effect of exchange rate changes on cash and cash   equivalents and restricted cash 3,425 (2,535) (362) Net (decrease)/increase in cash and cash equivalents   and restricted cash (14,225) 274,216 39,213 Cash and cash equivalents and restricted cash at the   beginning of the period 904,440 832,919 119,106 Cash and cash equivalents and restricted cash at the   end of the period 890,215 1,107,135 158,319   DINGDONG (CAYMAN) LIMITED  UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended December 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Income from operations 61,519 11,985 1,714 Add: share-based compensation expenses (1) 25,073 17,157 2,454 Non-GAAP income from operations 86,592 29,142 4,168 Operating margin 1.1 % 0.2 % 0.2 % Add: share-based compensation expenses 0.4 % 0.3 % 0.3 % Non-GAAP operating margin 1.5 % 0.5 % 0.5 % Net income 91,591 33,601 4,804 Add: share-based compensation expenses (1) 25,073 17,157 2,454 Non-GAAP net income 116,664 50,758 7,258 Net income margin 1.6 % 0.5 % 0.5 % Add: share-based compensation expenses 0.4 % 0.3 % 0.3 % Non-GAAP net income margin 2.0 % 0.8 % 0.8 % Net income attributable to ordinary shareholders 89,182 30,999 4,432 Add: share-based compensation expenses (1) 25,073 17,157 2,454 Non-GAAP net income attributable to ordinary   shareholders 114,255 48,156 6,886 Net income per Class A and Class B ordinary share: Basic 0.27 0.10 0.01 Diluted 0.26 0.09 0.01 Add: share-based compensation expenses Basic 0.08 0.05 0.01 Diluted 0.07 0.05 0.01 Non-GAAP net income per Class A and Class B ordinary   share: Basic 0.35 0.15 0.02 Diluted 0.33 0.14 0.02 (1) Share-based compensation expenses are recognized as follows: For the three months ended December 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Fulfillment expenses 4,148 2,416 345 Sales and marketing expenses 1,520 2,376 340 Product development expenses 12,468 5,746 822 General and administrative expenses 6,937 6,619 947 Total 25,073 17,157 2,454     ]]> 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.

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 (Amounts in thousands of RMB and US$)




As of



December 31,
2024

December 31,
2025

December 31,
2025



RMB

RMB

US$






(Unaudited)

ASSETS









Current assets:









Cash and cash equivalents

887,427

1,106,795

158,270

Restricted cash

2,788

340

49

Short-term investments

3,561,977

2,869,681

410,359

Accounts receivable, net

125,896

191,939

27,447

Inventories, net

553,601

570,485

81,578

Advance to suppliers

62,730

114,105

16,317

Prepayments and other current assets

170,753

186,744

26,704

Total current assets

5,365,172

5,040,089

720,724











Non-current assets:









Property and equipment, net

176,290

232,757

33,284

Operating lease right-of-use assets

1,464,791

1,580,099

225,951

Other non-current assets

111,395

163,223

23,341

Total non-current assets

1,752,476

1,976,079

282,576











TOTAL ASSETS

7,117,648

7,016,168

1,003,300











LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY

Current liabilities:









Accounts payable

1,660,472

1,920,341

274,605

Customer advances and deferred revenue

279,276

273,260

39,076

Accrued expenses and other current
  liabilities

767,080

760,613

108,766

Salary and welfare payable

317,152

304,531

43,547

Operating lease liabilities, current

640,245

664,304

94,994

Short-term borrowings

1,606,253

871,520

124,626

Total current liabilities

5,270,478

4,794,569

685,614











Non-current liabilities:









Operating lease liabilities, non-current

780,036

897,811

128,385

Other non-current liabilities

143,118

147,573

21,103

Total non-current liabilities

923,154

1,045,384

149,488











TOTAL LIABILITIES

6,193,632

5,839,953

835,102

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

 (Amounts in thousands of RMB and US$)




As of



December 31, 
2024

December 31, 
2025

December 31, 
2025



RMB

RMB

US$






(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY (CONTINUED)

Mezzanine Equity:









Redeemable noncontrolling interests

125,405

135,435

19,367











TOTAL MEZZANINE EQUITY

125,405

135,435

19,367











Shareholders' equity:









Ordinary shares

4

4

1

Additional paid-in capital

14,181,030

14,260,014

2,039,155

Treasury stock

(51,176)

(59,969)

(8,575)

Accumulated deficit

(13,384,881)

(13,163,217)

(1,882,315)

Accumulated other comprehensive income

53,634

3,948

565











TOTAL SHAREHOLDERS' EQUITY

798,611

1,040,780

148,831











TOTAL LIABILITIES, MEZZANINE EQUITY
  AND SHAREHOLDERS' EQUITY

 

7,117,648

 

7,016,168

 

1,003,300











 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in thousands of RMB and US$, except for number of shares and per share data)





For the three months ended

December 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Revenues:









Product revenues

5,822,527

6,164,574

881,522

Service revenues

82,495

78,010

11,155











Total revenues

5,905,022

6,242,584

892,677











Operating costs and expenses:









Cost of goods sold

(4,120,793)

(4,415,876)

(631,462)

Fulfillment expenses

(1,278,904)

(1,350,900)

(193,176)

Sales and marketing expenses

(137,513)

(136,662)

(19,542)

Product development expenses

(201,632)

(218,731)

(31,278)

General and administrative expenses

(109,195)

(130,303)

(18,633)











Total operating costs and expenses

(5,848,037)

(6,252,472)

(894,091)











Other operating income, net

4,534

21,873

3,128

Income from operations

61,519

11,985

1,714

Interest income

37,879

27,345

3,910

Interest expenses

(6,852)

(2,836)

(406)

Other income/(expenses), net

2,875

(913)

(131)






















Income before income tax

95,421

35,581

5,087






















Income tax expenses

(3,830)

(1,980)

(283)











Net income



91,591

33,601

4,804











Accretion of redeemable noncontrolling interests

(2,409)

(2,602)

(372)











Net income attributable to ordinary shareholders

89,182

30,999

4,432

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED)

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended

December 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Net income per Class A and Class B ordinary share:









Basic

0.27

0.10

0.01

Diluted

0.26

0.09

0.01

Shares used in net income per Class A and Class B
  ordinary share computation:









Basic

324,500,919

324,832,508

324,832,508

Diluted

337,933,639

336,937,358

336,937,358

Other comprehensive loss, net of tax of nil:









Foreign currency translation adjustments

55,517

(23,784)

(3,401)











Comprehensive income

147,108

9,817

1,403











Accretion of redeemable noncontrolling interests

(2,409)

(2,602)

(372)











Comprehensive income attributable to ordinary
  shareholders

144,699

7,215

1,031











 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)




For the three months ended

December 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)











Net cash generated from operating activities

190,878

204,469

29,239











Net cash (used in)/generated from investing activities

(158,850)

125,524

17,950











Net cash used in financing activities



(49,678)

(53,242)

(7,614)











Effect of exchange rate changes on cash and cash
  equivalents and restricted cash

3,425

(2,535)

(362)

Net (decrease)/increase in cash and cash equivalents
  and restricted cash



(14,225)

274,216

39,213











Cash and cash equivalents and restricted cash at the
  beginning of the period

904,440

832,919

119,106

Cash and cash equivalents and restricted cash at the
  end of the period



890,215

1,107,135

158,319











 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended
December 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Income from operations

61,519

11,985

1,714

Add: share-based compensation expenses (1)

25,073

17,157

2,454











Non-GAAP income from operations

86,592

29,142

4,168






















Operating margin

1.1 %

0.2 %

0.2 %

Add: share-based compensation expenses

0.4 %

0.3 %

0.3 %

Non-GAAP operating margin

1.5 %

0.5 %

0.5 %











Net income



91,591

33,601

4,804

Add: share-based compensation expenses (1)

25,073

17,157

2,454

Non-GAAP net income

116,664

50,758

7,258






















Net income margin

1.6 %

0.5 %

0.5 %

Add: share-based compensation expenses

0.4 %

0.3 %

0.3 %

Non-GAAP net income margin

2.0 %

0.8 %

0.8 %











Net income attributable to ordinary shareholders

89,182

30,999

4,432











Add: share-based compensation expenses (1)

25,073

17,157

2,454











Non-GAAP net income attributable to ordinary
  shareholders

114,255

48,156

6,886











Net income per Class A and Class B ordinary share:









Basic



0.27

0.10

0.01

Diluted

0.26

0.09

0.01

Add: share-based compensation expenses









Basic



0.08

0.05

0.01

Diluted

0.07

0.05

0.01

Non-GAAP net income per Class A and Class B ordinary
  share:




















Basic



0.35

0.15

0.02

Diluted

0.33

0.14

0.02


(1) Share-based compensation expenses are recognized as follows:





For the three months ended

December 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)











Fulfillment expenses

4,148

2,416

345

Sales and marketing expenses

1,520

2,376

340

Product development expenses

12,468

5,746

822

General and administrative expenses

6,937

6,619

947











Total

25,073

17,157

2,454











   

]]> Dingdong Announces Change in CEO 2026-03-04 19:00:00 . Safe Harbor Statements 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 inChina; 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 inChina 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. ]]> 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 the resignation of Mr. Changlin Liang as Chief Executive Officer of the Company and the appointment of Mr. Song Wang as the new Chief Executive Officer of the Company, concurrently with his resignation as Chief Financial Officer, effective March 4, 2026. Mr. Liang will continue to serve as Chairman of the Company's Board of Directors (the "Board").

As the founder of the Company, Mr. Liang has served as Chairman of the Board and Chief Executive Officer since the inception of the Company in May 2017. Mr. Liang commented, "At the founding of Dingdong in 2017, amid a crowded field of fresh food e‑commerce companies, we survived fierce competition by staying committed to product quality and service excellence. When confronted with the pandemic in 2020, Dingdong stepped up without hesitation and became a major force in securing daily supplies for the public. Following our listing in 2021, we adopted the strategy of "Efficiency First with due Consideration of Scale" to sustain consistent profitability and long‑term viability. All these milestones confirm that the only sustainable path forward is to steadfastly take on the difficult tasks, always put users at the heart, and do what is right for the business and society. Today, Dingdong's sustained profitability and the formation of our core competitive moat—including superior product strength, beyond‑expectation service quality, and exceptional operational efficiency empowered by our end‑to‑end supply chain system—would not have been possible without the dedication of every Dingdong team member, the trust of our users, the commitment of our partners, and the support of all investors."

The Board also congratulates Mr. Wang on his appointment as the new Chief Executive Officer, which follows the Board's thorough evaluation and deliberation.

Mr. Song Wang has nearly four years of core management experience with the Company. Since joining the Company, he has held various key positions, including Senior Vice President and director of the Company since September 2023, Chief Financial Officer since December 2023, and Chairman of the Dingdong Guyu Business Group (responsible for the Company's private label products' development and standardization, quality control and supply chain integration) since May 2025. During January 2024 to December 2024, Mr. Wang had overall responsibility for the Company's day-to-day operations and successfully led Dingdong to achieve growth in both scale and profitability, demonstrating a deep understanding of the fresh food retail industry and exceptional strategic execution capabilities. He has been deeply involved in the Company's product development, end-to-end supply chain construction and financial strategic planning, and played a central role in driving significant improvements in key performance indicators.

The Board commented, "Mr. Wang has a comprehensive and in-depth understanding of the Company's business and has demonstrated outstanding leadership in its financial management and business operations. We are confident that he is the ideal leader to steer Dingdong into its next phase of growth."

Commenting on his appointment, Mr. Wang said: "Dingdong is committed to making quality fresh groceries as accessible as tap water for everyone. Going forward, I will work with the team to continue focusing on building differentiated product strengths, enhancing supply chain capabilities, and upholding our user-centric service philosophy. We will strive to achieve further breakthroughs in ensuring livelihood supply, improving operational efficiency, and exploring sustainable retail models, creating long-term value for consumers, shareholders and partners."

The Board also approved the resignation of Mr. Song Wang from his position as Chief Financial Officer of the Company.

In addition, the Company also announced that Mr. Xu Jiang, Chief Technology Officer of the Company, has tendered his resignation due to personal reasons, by the end of March 2026. Mr. Jiang's resignation is not the result of any dispute or disagreement with the Company or the Board of Directors, nor any matter relating to the Company's operations, policies, or practices. The responsibilities previously overseen by the CTO role will be redistributed among existing members of the leadership team to ensure seamless continuity of the Company's technology functions.

Mr. Liang added, "We sincerely appreciate Mr. Jiang's outstanding leadership and remarkable achievements during his tenure. He led the Company to evolve into a fully digitalized, end-to-end fresh supply chain enterprise, and made tremendous contributions to infrastructure development, operational efficiency, technology architecture evolution, and supply chain restructuring."

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.

Safe Harbor Statements

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.

]]> Dingdong to Report Fourth Quarter 2025 Financial Results on March 4, 2026 2026-03-02 19:00:00 . ]]> SHANGHAI, March 2, 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 that it will report its unaudited financial results for the fourth quarter ended December 31, 2025, before U.S. markets open on March 4, 2026.

About Dingdong (Cayman) Limited

Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

]]> Record Date for 2026 Annual General Meeting of Shareholders 2026-02-26 12:30:00 . 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, operational, share repurchase and dividend 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, 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: the successful completion of the Transaction; Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the on-demand e-commerce market inChina; 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; Dingdong's proposed use of proceeds; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and inChina 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 Securities and Exchange Commission. 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. ]]> SHANGHAI, Feb. 26, 2026 /PRNewswire/ -- Dingdong (Cayman) Limited (the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, announces that the record date for the purpose of determining the eligibility of the holders of the Class A ordinary shares and the Class B ordinary shares of the Company, par value US$ 0.000002 each (the "Ordinary Shares"), to vote and attend the forthcoming 2026 annual general meeting of the Company (the "AGM"), will be as of the close of business on Monday, March 9, 2026, Shanghai time (the "Ordinary Share Record Date").

In order to be eligible to vote and attend the AGM, with respect to Ordinary Shares registered on the Company's principal share register in the Cayman Islands, all valid documents for the transfers of shares accompanied by the relevant share certificates must be lodged with the Company's principal share registrar and transfer office, Maples Fund Services (Cayman) Limited, PO Box 1093, Boundary Hall, Cricket Square, Grand Cayman, KY1-1102, Cayman Islands, no later than 6:00 p.m. on Friday, March 6, 2026, Cayman Islands time (due to the time difference between the Cayman Islands and Shanghai). All persons who are registered holders of the Ordinary Shares on the Ordinary Share Record Date will be entitled to vote and attend the AGM.

Holders of American depositary shares (the "ADSs") issued by Deutsche Bank Trust Company Americas as the depositary of the ADSs (the "Depositary"), each two representing three Class A ordinary shares of the Company, may attend, but may not vote at, the AGM. The ADS holders as of the close of business on Friday, March 6, 2026, New York time (the "ADS Record Date", together with the Ordinary Share Record Date, the "Record Date"), after receiving the voting materials from the Depositary, will be able to instruct the Depositary, being the holder of record of the Class A ordinary shares represented by the ADSs, as to how to vote the Class A ordinary shares represented by such ADSs. The Depositary will endeavor, to the extent practicable and legally permissible, to vote or cause to be voted at the AGM the Class A ordinary shares represented by the ADSs in accordance with the instructions that it has properly and timely received from the ADS holders. Please be aware that, because of the time difference between Shanghai and New York, any ADS holders that cancel their ADSs in exchange for Class A ordinary shares on Friday, March 6, 2026, New York time will no longer be ADS holders with respect to such canceled ADSs as of the ADS Record Date and will not be able to instruct the Depositary as to how to vote the Class A ordinary shares represented by such canceled ADSs as described above; such ADS holders will also not be holders of the Class A ordinary shares represented by such canceled ADSs as of the Ordinary Share Record Date for the purpose of determining the eligibility to attend and vote at the AGM.

About Dingdong (Cayman) Limited

Dingdong (Cayman) Limited is 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.

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, operational, share repurchase and dividend 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, 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: the successful completion of the Transaction; Dingdong's goals and strategies; Dingdong's future business development, financial conditions, and results of operations; the expected outlook of the on-demand e-commerce 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; Dingdong's proposed use of proceeds; 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 Securities and Exchange Commission. 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.

]]> Dingdong Announces Entry into Definitive Agreement to Sell its China Business to Meituan 2026-02-05 17:08:00 . 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, 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 on-demand e-commerce market inChina; 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; Dingdong's proposed use of proceeds; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and inChina 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 Securities and Exchange Commission. 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. ]]> SHANGHAI, Feb. 5, 2026 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, today announced that it has entered into a definitive Share Purchase Agreement (the "Share Purchase Agreement") with Two Hearts Investments Limited ("Buyer"), a wholly-owned subsidiary of Meituan (HKEX: 3690).

Pursuant to the Share Purchase Agreement, Dingdong has agreed to sell to the Buyer all issued and outstanding shares of Dingdong Fresh Holding Limited, Dingdong's wholly-owned subsidiary incorporated in the British Virgin Islands ("Dingdong BVI" or the "Target Company"), which holds through a series of wholly-owned and majority equity interest subsidiaries substantially all of the Company's operations in China (the "Transaction"). The Company's international business is not part of the Transaction and will be retained by the Company following any necessary reorganizational processes to be completed prior to the closing of the Transaction.

The Company's board of directors has approved the Company entering into the Share Purchase Agreement after a thorough review of the terms of Transaction with its financial and legal advisors. The consummation of the Transaction is subject to the satisfaction of customary closing conditions, including the receipt of antitrust and other required regulatory approvals. The Company plans to convene an extraordinary general meeting for shareholders to vote on approval of the Transaction.

Transaction Consideration

Under the terms of the Share Purchase Agreement, based on the balance sheet as of December 31, 2025, and after Dingdong (Cayman) Limited receives total cash not exceeding US$280 million from Dingdong BVI and its subsidiaries (provided that the remaining net cash of Dingdong BVI and its subsidiaries on a consolidated basis shall not be less than US$150 million), the Buyer will pay total cash consideration of US$717 million in the Transaction. This amount is subject to adjustments based on certain net cash, net working capital and other financial line items of the Target Company as of certain agreed upon dates. 

The adjusted consideration will be payable in cash in two installments: (i) 90% of the consideration payable at closing, and (ii) the remaining 10% payable following the Company's settlement of applicable taxes related to the Transaction.

Management Comments

Mr. Changlin Liang, Founder, Director and Chief Executive Officer of Dingdong, stated:

"Since its founding, Dingdong has been driven by the vision of redefining the traditional fresh food industry through the deep integration of digital technology and supply chain innovation. We have always adhered to our founding mission of 'Empowering Everyone to Eat Better, Live Healthier'. From direct sourcing at the origin, the efficient operation of our frontline stations, to the last-mile delivery service, every step of our operations is dedicated to enhancing the quality of life of our consumers.

We believe that this unwavering commitment is aligned with Meituan's company mission of 'Helping People Eat Better, Live Better', laying a solid foundation for the strategic merger between the two companies.

Following thorough deliberation and rigorous review by our board of directors, we have entered into an agreement with Meituan for the sale of Dingdong's China business. This transaction is subject to the satisfaction of customary conditions precedent, including necessary regulatory approvals, and approval by our shareholders. We have and will continue to ensure full regulatory and legal compliance and transparency throughout the process. During the integration and transition period between the signing of the Share Purchase Agreement and the closing of the Transaction, Dingdong will strictly honor all of its commitments to customers, employees, and partners, ensuring the stability and orderly operation of the China business. We firmly believe that through the deep integration of the strengths of both companies, we will jointly build a more resilient fresh food infrastructure and deliver higher-quality services to consumers."

Mr. Song Wang, Director and Chief Financial Officer of Dingdong, stated:

"From a financial and strategic investment perspective, the pricing rationale of this transaction fully demonstrates the capital markets' high recognition of Dingdong's supply chain moat, user stickiness, and brand core values. We believe that this is not only fair and prudent pricing based on the long-term synergies between the two parties, but also a strong validation of the quality of Dingdong's China business accumulated over years.

At present, the Transaction is progressing steadily in accordance with relevant legal and regulatory procedures and closing conditions. We will continue to optimize the efficiency of capital allocation, and on the premise of ensuring the compliance of the Transaction, strive to maximize the interests of all of our shareholders. We will also provide solid financial and resource support for the Company to enter its next stage of high-quality growth."

Key Terms of the Share Purchase Agreement

The Share Purchase Agreement contains customary representations, warranties, and covenants of the parties. Key terms include:

  • Conduct of Business and Transition: From the signing date until closing (the "Transition Period"), the Company covenants to operate the Target Company in the ordinary course of business. Any operating profits or losses incurred by the Target Company and its subsidiaries during this period will accrue to the Buyer. The Company is subject to customary restrictive covenants during this period, including, among other things, limitations on capital structure changes and material non-ordinary course contracts. The Company represents to the Buyer that no unauthorized leakage of funds has occurred or will occur. Any such leakage may result in a direct deduction from the consideration.
  • Non-Competition: The Company and the Founder have agreed to a five-year non-competition and non-solicitation covenant following the closing, covering the To-C fresh grocery e-commerce business within the Greater China region.
  • Exclusivity: The Company is bound by a "no-shop" obligation, prohibiting the solicitation or facilitation of alternative acquisition proposals from third parties during the Transition Period.
  • Termination and Fees: The Share Purchase Agreement may be terminated if closing does not occur within 12 months, which may be extended with mutual consent. The Agreement includes tiered termination fee arrangements: (i) the Buyer shall pay a US$150 million termination fee if it fails to proceed to closing despite the satisfaction of all material conditions; (ii) the Company shall pay a US$75 million termination fee if it fails to satisfy certain material controllable conditions, or fails to cooperate in regulatory filings; and (iii) the Buyer shall pay a US$75 million termination fee if the Transaction fails and the required anti-monopoly approval or certain other regulatory clearance cannot be obtained, despite the Company's material cooperation.

Closing Conditions

Closing of the Transaction is subject to the satisfaction or waiver of various customary conditions, including, among other things, the approval by the Company's shareholders, the receipt of anti-monopoly clearance from the State Administration for Market Regulation of the People's Republic of China (SAMR), the completion of the overseas business carve-out,  the completion of non-resident indirect transfer tax filings and the absence of any Material Adverse Effect.

About Dingdong (Cayman) Limited

Dingdong (Cayman) Limited is 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.

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, 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 on-demand e-commerce 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; Dingdong's proposed use of proceeds; 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 Securities and Exchange Commission. 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.

]]> Dingdong (Cayman) Limited Announces Third Quarter 2025 Financial Results 2025-11-12 17:30:00 . 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 ofRMB7.1190 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 inChina; 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 inChina 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.     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of RMB and US$) As of December 31, 2024 September 30, 2025 September 30, 2025 RMB RMB US$ (Unaudited) ASSETS Current assets: Cash and cash equivalents 887,427 832,307 116,913 Restricted cash 2,788 612 86 Short-term investments 3,561,977 3,075,305 431,986 Accounts receivable, net 125,896 177,976 25,000 Inventories, net 553,601 590,974 83,014 Advance to suppliers 62,730 143,999 20,227 Prepayments and other current assets 170,753 156,453 21,977 Total current assets 5,365,172 4,977,626 699,203 Non-current assets: Property and equipment, net 176,290 220,367 30,955 Operating lease right-of-use assets 1,464,791 1,598,004 224,470 Other non-current assets 111,395 150,397 21,126 Total non-current assets 1,752,476 1,968,768 276,551 TOTAL ASSETS 7,117,648 6,946,394 975,754 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 1,660,472 1,884,339 264,691 Customer advances and deferred revenue 279,276 272,048 38,214 Accrued expenses and other current     liabilities   767,080 759,988 106,755 Salary and welfare payable 317,152 250,560 35,196 Operating lease liabilities, current 640,245 651,863 91,567 Short-term borrowings 1,606,253 916,154 128,691 Total current liabilities 5,270,478 4,734,952 665,114 Non-current liabilities: Operating lease liabilities, non-current 780,036 907,421 127,465 Other non-current liabilities 143,118 146,347 20,557 Total non-current liabilities 923,154 1,053,768 148,022 TOTAL LIABILITIES 6,193,632 5,788,720 813,136       DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in thousands of RMB and US$) As of December 31, 2024 September 30, 2025 September 30, 2025 RMB RMB US$ (Unaudited) LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (CONTINUED) Mezzanine Equity: Redeemable noncontrolling interests 125,405 132,834 18,659 TOTAL MEZZANINE EQUITY 125,405 132,834 18,659 Shareholders' equity: Ordinary shares 4 4 1 Additional paid-in capital 14,181,030 14,242,496 2,000,632 Treasury stock (51,176) (51,176) (7,189) Accumulated deficit (13,384,881) (13,194,215) (1,853,380) Accumulated other comprehensive income 53,634 27,731 3,895 TOTAL SHAREHOLDERS' EQUITY 798,611 1,024,840 143,959 TOTAL LIABILITIES, MEZZANINE EQUITY     AND SHAREHOLDERS' EQUITY   7,117,648 6,946,394 975,754       DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended September 30, 2024 2025 2025 RMB RMB US$ (Unaudited) Revenues: Product revenues 6,458,447 6,573,085 923,316 Service revenues 79,788 89,311 12,545 Total revenues 6,538,235 6,662,396 935,861 Operating costs and expenses: Cost of goods sold (4,591,429) (4,739,839) (665,801) Fulfillment expenses (1,397,785) (1,430,605) (200,956) Sales and marketing expenses (144,868) (127,669) (17,934) Product development expenses (202,412) (203,447) (28,578) General and administrative expenses (101,988) (120,074) (16,867) Total operating costs and expenses (6,438,482) (6,621,634) (930,136) Other operating income, net 10,796 18,540 2,605 Income from operations 110,549 59,302 8,330 Interest income 38,446 29,694 4,171 Interest expenses (9,650) (3,168) (445) Other loss, net (2,865) (1,119) (157) Income before income tax 136,480 84,709 11,899 Income tax expenses (3,074) (1,816) (255) Net income 133,406 82,893 11,644 Accretion of redeemable noncontrolling interests (2,363) (2,552) (358) Net income attributable to ordinary shareholders 131,043 80,341 11,286       DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED) (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended September 30, 2024 2025 2025 RMB RMB US$ (Unaudited) Net income per Class A and Class B ordinary share: Basic 0.40 0.25 0.04 Diluted 0.40 0.24 0.03 Shares used in net income per Class A and Class B     ordinary share computation: Basic 324,194,950 325,019,667 325,019,667 Diluted 330,928,010 339,885,461 339,885,461 Other comprehensive loss, net of tax of nil: Foreign currency translation adjustments (36,009) (16,631) (2,336) Comprehensive income 97,397 66,262 9,308 Accretion of redeemable noncontrolling interests (2,363) (2,552) (358) Comprehensive income attributable to ordinary     shareholders 95,034 63,710 8,950       DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of RMB and US$) For the three months ended September 30, 2024 2025 2025 RMB RMB US$ (Unaudited) Net cash generated from operating activities 397,639 144,411 20,284 Net cash used in investing activities (352,490) (91,582) (12,864) Net cash used in financing activities (200,107) (145,799) (20,480) Effect of exchange rate changes on cash and cash     equivalents and restricted cash (2,267) (1,949) (274) Net decrease in cash and cash equivalents and     restricted cash (157,225) (94,919) (13,334) Cash and cash equivalents and restricted cash at the     beginning of the period 1,061,667 927,838 130,333 Cash and cash equivalents and restricted cash at the     end of the period 904,442 832,919 116,999       DINGDONG (CAYMAN) LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended September 30, 2024 2025 2025 RMB   RMB   US$   (Unaudited) Income from operations 110,549 59,302 8,330 Add: share-based compensation expenses (1) 28,210 18,369 2,580 Non-GAAP income from operations 138,759 77,671 10,910 Operating margin 1.6 % 0.9 % 0.9 % Add: share-based compensation expenses 0.5 % 0.3 % 0.3 % Non-GAAP operating margin 2.1 % 1.2 % 1.2 % Net income 133,406 82,893 11,644 Add: share-based compensation expenses (1) 28,210 18,369 2,580 Non-GAAP net income 161,616 101,262 14,224 Net income margin 2.0 % 1.2 % 1.2 % Add: share-based compensation expenses 0.5 % 0.3 % 0.3 % Non-GAAP net income margin 2.5 % 1.5 % 1.5 % Net income attributable to ordinary shareholders 131,043 80,341 11,286 Add: share-based compensation expenses (1) 28,210 18,369 2,580 Non-GAAP net income attributable to ordinary     shareholders 159,253 98,710 13,866  Net income per Class A and Class B ordinary share: Basic 0.40 0.25 0.04 Diluted 0.40 0.24 0.03 Add: share-based compensation expenses Basic 0.09 0.06 0.01 Diluted 0.09 0.05 0.01 Non-GAAP net income per Class A and Class B ordinary     share: Basic 0.49 0.31 0.05 Diluted 0.49 0.29 0.04  (1) Share-based compensation expenses are recognized as follows: For the three months ended September 30, 2024 2025 2025 RMB   RMB   US$   (Unaudited)  Fulfillment expenses 4,707 1,763 248  Sales and marketing expenses 1,057 2,199 309  Product development expenses 13,288 7,724 1,084  General and administrative expenses 9,158 6,683 939  Total 28,210 18,369 2,580   ]]> 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.
  • Net 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:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

86-4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

0792686

The replay will be accessible through November 19, 2025 by dialing the following numbers:

International:

1-412-317-0088

United States:

1-855-669-9658

Access Code:                    

5791678

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.

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of RMB and US$)




As of



December 31,
2024

September 30,

2025

September 30,

2025



RMB

RMB

US$






(Unaudited)

ASSETS









Current assets:









Cash and cash equivalents

887,427

832,307

116,913

Restricted cash

2,788

612

86

Short-term investments

3,561,977

3,075,305

431,986

Accounts receivable, net

125,896

177,976

25,000

Inventories, net

553,601

590,974

83,014

Advance to suppliers

62,730

143,999

20,227

Prepayments and other current assets

170,753

156,453

21,977

Total current assets

5,365,172

4,977,626

699,203











Non-current assets:









Property and equipment, net

176,290

220,367

30,955

Operating lease right-of-use assets

1,464,791

1,598,004

224,470

Other non-current assets

111,395

150,397

21,126

Total non-current assets

1,752,476

1,968,768

276,551











TOTAL ASSETS

7,117,648

6,946,394

975,754











LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY

Current liabilities:









Accounts payable

1,660,472

1,884,339

264,691

Customer advances and deferred revenue

279,276

272,048

38,214

Accrued expenses and other current
    liabilities

 

767,080

759,988

106,755

Salary and welfare payable

317,152

250,560

35,196

Operating lease liabilities, current

640,245

651,863

91,567

Short-term borrowings

1,606,253

916,154

128,691

Total current liabilities

5,270,478

4,734,952

665,114











Non-current liabilities:









Operating lease liabilities, non-current

780,036

907,421

127,465

Other non-current liabilities

143,118

146,347

20,557

Total non-current liabilities

923,154

1,053,768

148,022











TOTAL LIABILITIES

6,193,632

5,788,720

813,136

 

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands of RMB and US$)





As of



December 31,

2024

September 30,

2025

September 30,

2025



RMB

RMB

US$






(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY (CONTINUED)

Mezzanine Equity:









Redeemable noncontrolling interests

125,405

132,834

18,659











TOTAL MEZZANINE EQUITY

125,405

132,834

18,659











Shareholders' equity:









Ordinary shares

4

4

1

Additional paid-in capital

14,181,030

14,242,496

2,000,632

Treasury stock

(51,176)

(51,176)

(7,189)

Accumulated deficit

(13,384,881)

(13,194,215)

(1,853,380)

Accumulated other comprehensive income

53,634

27,731

3,895











TOTAL SHAREHOLDERS' EQUITY

798,611

1,024,840

143,959











TOTAL LIABILITIES, MEZZANINE EQUITY
    AND SHAREHOLDERS' EQUITY

 

7,117,648

6,946,394

975,754











 

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in thousands of RMB and US$, except for number of shares and per share data)





For the three months ended

September 30,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Revenues:









Product revenues

6,458,447

6,573,085

923,316

Service revenues

79,788

89,311

12,545






















Total revenues

6,538,235

6,662,396

935,861






















Operating costs and expenses:









Cost of goods sold

(4,591,429)

(4,739,839)

(665,801)

Fulfillment expenses

(1,397,785)

(1,430,605)

(200,956)

Sales and marketing expenses

(144,868)

(127,669)

(17,934)

Product development expenses

(202,412)

(203,447)

(28,578)

General and administrative expenses

(101,988)

(120,074)

(16,867)











Total operating costs and expenses

(6,438,482)

(6,621,634)

(930,136)






















Other operating income, net

10,796

18,540

2,605

Income from operations

110,549

59,302

8,330

Interest income

38,446

29,694

4,171

Interest expenses

(9,650)

(3,168)

(445)

Other loss, net

(2,865)

(1,119)

(157)






















Income before income tax

136,480

84,709

11,899






















Income tax expenses

(3,074)

(1,816)

(255)






















Net income



133,406

82,893

11,644






















Accretion of redeemable noncontrolling interests

(2,363)

(2,552)

(358)






















Net income attributable to ordinary shareholders

131,043

80,341

11,286

 

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (CONTINUED)

(Amounts in thousands of RMB and US$, except for number of shares and per share data)





For the three months ended

September 30,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Net income per Class A and Class B ordinary share:









Basic

0.40

0.25

0.04

Diluted

0.40

0.24

0.03

Shares used in net income per Class A and Class B
    ordinary share computation:









Basic

324,194,950

325,019,667

325,019,667

Diluted

330,928,010

339,885,461

339,885,461

Other comprehensive loss, net of tax of nil:









Foreign currency translation adjustments

(36,009)

(16,631)

(2,336)











Comprehensive income

97,397

66,262

9,308











Accretion of redeemable noncontrolling interests

(2,363)

(2,552)

(358)











Comprehensive income attributable to ordinary
    shareholders

95,034

63,710

8,950











 

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)





For the three months ended

September 30,



2024

2025

2025



RMB

RMB

US$



(Unaudited)











Net cash generated from operating activities

397,639

144,411

20,284











Net cash used in investing activities

(352,490)

(91,582)

(12,864)











Net cash used in financing activities



(200,107)

(145,799)

(20,480)











Effect of exchange rate changes on cash and cash
    equivalents and restricted cash

(2,267)

(1,949)

(274)

Net decrease in cash and cash equivalents and
    restricted cash



(157,225)

(94,919)

(13,334)











Cash and cash equivalents and restricted cash at the
    beginning of the period

1,061,667

927,838

130,333

Cash and cash equivalents and restricted cash at the
    end of the period



904,442

832,919

116,999

 

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)





For the three months ended
September 30,



2024

2025

2025



RMB  

RMB  

US$  



(Unaudited)

Income from operations

110,549

59,302

8,330

Add: share-based compensation expenses (1)

28,210

18,369

2,580











Non-GAAP income from operations

138,759

77,671

10,910






















Operating margin

1.6 %

0.9 %

0.9 %

Add: share-based compensation expenses

0.5 %

0.3 %

0.3 %

Non-GAAP operating margin

2.1 %

1.2 %

1.2 %











Net income



133,406

82,893

11,644

Add: share-based compensation expenses (1)

28,210

18,369

2,580











Non-GAAP net income

161,616

101,262

14,224






















Net income margin

2.0 %

1.2 %

1.2 %

Add: share-based compensation expenses

0.5 %

0.3 %

0.3 %

Non-GAAP net income margin

2.5 %

1.5 %

1.5 %











Net income attributable to ordinary shareholders

131,043

80,341

11,286











Add: share-based compensation expenses (1)

28,210

18,369

2,580











Non-GAAP net income attributable to ordinary
    shareholders

159,253

98,710

13,866











 Net income per Class A and Class B ordinary share:









Basic



0.40

0.25

0.04

Diluted

0.40

0.24

0.03

Add: share-based compensation expenses









Basic



0.09

0.06

0.01

Diluted

0.09

0.05

0.01

Non-GAAP net income per Class A and Class B ordinary
    share:




















Basic



0.49

0.31

0.05

Diluted

0.49

0.29

0.04


 (1) Share-based compensation expenses are recognized as follows:




For the three months ended


September 30,



2024

2025

2025



RMB  

RMB  

US$  



(Unaudited)










 Fulfillment expenses

4,707

1,763

248

 Sales and marketing expenses

1,057

2,199

309

 Product development expenses

13,288

7,724

1,084

 General and administrative expenses

9,158

6,683

939











 Total

28,210

18,369

2,580

 

]]> Dingdong to Report Third Quarter 2025 Financial Results on November 12, 2025 2025-11-10 13:30:00 . About Dingdong (Cayman) Limited  Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me .   ]]> SHANGHAI, Nov. 10, 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 that it will report its unaudited financial results for the third quarter ended September 30, 2025, before U.S. markets open on November 12, 2025.

The Company 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 its financial results. Management's prepared remarks and the question-and-answer session will be conducted in English and Mandarin. Dial-in details for the earnings conference call are as follows:

International:                                       

1-412-317-6061

United States Toll Free:  

1-888-317-6003

Mainland China Toll Free: 

+86-4001-206115

Hong Kong Toll Free:

800-963976

Conference ID: 

0792686

The replay will be accessible through November 19, 2025 by dialing the following numbers:

International:                                       

1-412-317-0088

United States: 

1-855-669-9658

Access Code: 

5791678

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 

Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

 

]]> Dingdong (Cayman) Limited Announces Second Quarter 2025 Financial Results 2025-08-21 17:30:00 . 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 ofRMB7.1636 to US$1.00, the exchange rate on June 30, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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 inChina; 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 inChina 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.     DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of RMB and US$) As of December 31, 2024 June 30, 2025 June 30, 2025 RMB RMB US$  (Unaudited) ASSETS Current assets: Cash and cash equivalents 887,427 926,209 129,294 Restricted cash 2,788 1,630 228 Short-term investments 3,561,977 3,046,326 425,251 Accounts receivable, net 125,896 136,912 19,112 Inventories, net 553,601 504,934 70,486 Advance to suppliers 62,730 96,275 13,439 Prepayments and other current assets 170,753 193,875 27,064 Total current assets 5,365,172 4,906,161 684,874 Non-current assets: Property and equipment, net 176,290 196,384 27,414 Operating lease right-of-use assets 1,464,791 1,509,628 210,736 Other non-current assets 111,395 145,938 20,372 Total non-current assets 1,752,476 1,851,950 258,522 TOTAL ASSETS 7,117,648 6,758,111 943,396 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 1,660,472 1,782,194 248,784 Customer advances and deferred revenue 279,276 249,154 34,781 Accrued expenses and other current     liabilities   767,082 755,559 105,472 Salary and welfare payable 317,152 218,035 30,437 Operating lease liabilities, current 640,245 667,992 93,248 Short-term borrowings 1,606,253 1,061,954 148,243 Total current liabilities 5,270,480 4,734,888 660,965 Non-current liabilities: Operating lease liabilities, non-current 780,036 805,058 112,382 Other non-current liabilities 143,118 145,122 20,258 Total non-current liabilities 923,154 950,180 132,640 TOTAL LIABILITIES 6,193,634 5,685,068 793,605     DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in thousands of RMB and US$) As of December 31, 2024 June 30, 2025 June 30, 2025 RMB RMB US$ (Unaudited) LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (CONTINUED) Mezzanine Equity: Redeemable noncontrolling interests 125,403 130,282 18,187 TOTAL MEZZANINE EQUITY 125,403 130,282 18,187 Shareholders' equity: Ordinary shares 4 4 1 Additional paid-in capital 14,181,030 14,224,126 1,985,610 Treasury stock (51,176) (51,176) (7,144) Accumulated deficit (13,384,881) (13,274,555) (1,853,056) Accumulated other comprehensive income 53,634 44,362 6,193 TOTAL SHAREHOLDERS' EQUITY 798,611 942,761 131,604 TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY   7,117,648 6,758,111 943,396     DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended June 30, 2024 2025 2025  RMB  RMB US$ (Unaudited) Revenues: Product revenues 5,517,850 5,893,728 822,733 Service revenues 81,103 82,141 11,466 Total revenues 5,598,953 5,975,869 834,199 Operating costs and expenses: Cost of goods sold (3,919,445) (4,255,182) (594,001) Fulfillment expenses (1,252,859) (1,297,277) (181,093) Sales and marketing expenses (129,659) (102,917) (14,367) Product development expenses (202,663) (201,822) (28,173) General and administrative expenses (108,165) (122,906) (17,157) Total operating costs and expenses (5,612,791) (5,980,104) (834,791) Other operating income, net 67,438 85,870 11,987 Income from operations 53,600 81,635 11,395 Interest income 37,807 33,393 4,663 Interest expenses (14,023) (4,820) (673) Other (loss)/income, net (2,844) 783 109 Income before income tax 74,540 110,991 15,494 Income tax expenses (7,414) (3,804) (531) Net income 67,126 107,187 14,963 Accretion of redeemable noncontrolling interests (2,292) (2,476) (346) Net income attributable to ordinary shareholders 64,834 104,711 14,617     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED) (Amounts in thousands of RMB and US$, except for number of shares and per share data)  For the three months ended June 30, 2024 2025 2025 RMB RMB US$ (Unaudited) Net income per Class A and Class B ordinary share: Basic 0.20 0.32 0.04 Diluted 0.20 0.31 0.04 Shares used in net income per Class A and Class B     ordinary share computation: Basic 325,430,984 324,632,496 324,632,496 Diluted 329,814,651 335,355,966 335,355,966 Other comprehensive income/(loss), net of tax of nil: Foreign currency translation adjustments 9,441 (6,141) (857) Comprehensive income 76,567 101,046 14,106 Accretion of redeemable noncontrolling interests (2,292) (2,476) (346) Comprehensive income attributable to ordinary    shareholders 74,275 98,570 13,760     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of RMB and US$) For the three months ended June 30, 2024 2025 2025 RMB RMB US$ (Unaudited) Net cash generated from operating activities 245,738 101,401 14,155 Net cash generated from/ (used in) investing activities 278,839 (46,026) (6,425) Net cash used in financing activities (592,905) (344,390) (48,075) Effect of exchange rate changes on cash and cash equivalents and    restricted cash (1,479) (140) (19) Net decrease in cash and cash equivalents and restricted cash   (69,807) (289,155) (40,364) Cash and cash equivalents and restricted cash at the beginning of the period 1,131,474 1,216,994 169,886 Cash and cash equivalents and restricted cash at the    end of the period 1,061,667 927,839 129,522     DINGDONG (CAYMAN) LIMITED  UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended June 30, 2024 2025 2025 RMB   RMB   US$   (Unaudited) Income from operations 53,600 81,635 11,395 Add: share-based compensation expenses (1) 36,001 20,583 2,873 Non-GAAP income from operations 89,601 102,218 14,268 Operating margin 1.0 % 1.4 % 1.4 % Add: share-based compensation expenses 0.6 % 0.3 % 0.3 % Non-GAAP operating margin 1.6 % 1.7 % 1.7 % Net income 67,126 107,187 14,963 Add: share-based compensation expenses (1) 36,001 20,583 2,873 Non-GAAP net income 103,127 127,770 17,836 Net income margin 1.2 % 1.8 % 1.8 % Add: share-based compensation expenses 0.6 % 0.3 % 0.3 % Non-GAAP net income margin 1.8 % 2.1 % 2.1 % Net income attributable to ordinary shareholders 64,834 104,711 14,617 Add: share-based compensation expenses (1) 36,001 20,583 2,873 Non-GAAP net income attributable to ordinary   shareholders 100,835 125,294 17,490 Net income per Class A and Class B ordinary share: Basic 0.20 0.32 0.04 Diluted 0.20 0.31 0.04 Add: share-based compensation expenses Basic 0.11 0.07 0.01 Diluted 0.11 0.06 0.01 Non-GAAP net income per Class A and Class B ordinary share: Basic 0.31 0.39 0.05 Diluted 0.31 0.37 0.05     (1) Share-based compensation expenses are recognized as follows: For the three months ended June 30, 2024 2025 2025 RMB RMB US$ (Unaudited) Fulfillment expenses 7,825 3,926 548 Sales and marketing expenses 1,844 1,387 194 Product development expenses 15,595 8,590 1,199 General and administrative expenses 10,737 6,680 932 Total 36,001 20,583 2,873       ]]> SHANGHAI, Aug. 21, 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 June 30, 2025.

Second Quarter 2025 Highlights: 

  • GMV for the second quarter of 2025 increased by 4.5% year over year to RMB6,499.4 million (US$907.3 million) from RMB6,218.7 million in the same quarter of 2024, positive year-on-year growth for six straight quarters.
  • Total number of orders increased by 5.5% year over year in the second quarter of 2025.
  • Net income for the second quarter of 2025 increased by 59.7% year over year to RMB107.2 million (US$15.0 million) from RMB67.1 million in the same quarter of 2024, the sixth consecutive quarter of profitability.
  • Non-GAAP net income for the second quarter of 2025 increased by 23.9% year over year to RMB127.8 million (US$17.8 million) from RMB103.1 million in the same quarter of 2024, the eleventh consecutive quarter of non-GAAP profitability.

Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, "As of the second quarter of 2025, Dingdong has achieved eleven straight quarters of non-GAAP profitability and six straight quarters of GAAP profitability, along with six consecutive quarters of positive year-over-year revenue growth. This consistent growth in scale and profitability not only shows that we have overcome the challenge of survival but also proves the resilience and execution capabilities of the Dingdong team, laying a strong foundation for the next phase of higher-quality growth. By the end of the second quarter, Dingdong's 4G strategy—centered on "good users, good products, good service, and good mindshare"—had been in place for six months. While the Company is still transforming, it has achieved steady year-over-year growth. Additionally, through adjustments in production relations and productivity improvements, the 4G strategy has already begun to show results. The Company remains focused on developing high-quality products, aiming to create more offerings that are well-received, commercially successful, and distinctive. Our principle is "Where others fall short, we deliver. Where others deliver, we excel. Where others excel, we redefine." Operational metrics aligned with the 4G strategy continue to improve steadily."

Mr. Song Wang, Chief Financial Officer of Dingdong, stated, "In the second quarter of 2025, Dingdong generated revenue of RMB5.98 billion, a 6.7% year-on-year increase, marking six consecutive quarters of positive growth. Non-GAAP net profit reached RMB127.8 million, with a net margin of 2.1%, up 0.3 percentage points year-on-year. GAAP net profit was RMB107.2 million, with a net margin of 1.8%, an increase of 0.6 percentage points. In terms of funds, the second quarter recorded a net cash inflow of RMB101.4 million from operating activities, the eighth straight quarter of positive cash flow. By the end of the second quarter, after deducting short-term borrowings, our actual cash owned increased to RMB2.95 billion. Dingdong has been focused on the instant retail and fresh grocery e-commerce sectors for over eight years. Our ongoing profitability and rising cash flow reinforce our commitment to the value proposition "narrow and deep." Despite external changes, we will remain fully dedicated to the fresh grocery vertical, investing continuously in high-quality products and supply chains, following our unique path."

Second Quarter 2025 Financial Results

Total revenues were RMB5,975.9 million (US$834.2 million) compared with total revenues of RMB5,599.0 million in the same quarter of 2024, increased by 6.7% 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. The increase was offset by suspension of operations for a number of stations in the last three quarters of 2024, and the impact of the decline in CPI prices of certain categories in the second quarter of 2025.

  • Product Revenues were RMB5,893.7 million (US$822.7 million) compared with product revenues of RMB5,517.9 million in the same quarter of 2024, increased by 6.8% year over year.
  • Service Revenues were RMB82.1 million (US$11.5 million) compared with service revenues of RMB81.1 million in the same quarter of 2024, increased by 1.3% year over year.

Total operating costs and expenses were RMB5,980.1 million (US$834.8 million) compared with RMB5,612.8 million in the same quarter of 2024, with a detailed breakdown as below:

  • Cost of goods sold was RMB4,255.2 million (US$594.0 million), an increase of 8.6% from RMB3,919.4 million in the same quarter of 2024. Cost of goods sold as a percentage of revenues increased to 71.2% from 70.0% in the same quarter of 2024. Gross margin decreased to 28.8% from 30.0% 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 RMB1,297.3 million (US$181.1 million), an increase of 3.5% from RMB1,252.9 million in the same quarter of 2024. Fulfillment expenses as a percentage of total revenues decreased to 21.7% from 22.4% in the same quarter of 2024.
  • Sales and marketing expenses were RMB102.9 million (US$14.4 million), a decrease of 20.6% from RMB129.7 million in the same quarter of 2024. Sales and marketing expenses as a percentage of total revenues decreased to 1.7% from 2.3% in the same quarter of 2024. The traffic and promotional effects generated by the Good Products Strategy have replaced some of the original marketing campaigns, thereby saving corresponding expenses.
  • General and administrative expenses were RMB122.9 million (US$17.2 million), an increase of 13.6% from RMB108.2 million in the same quarter of 2024, mainly due to the increase of staff cost.
  • Product development expenses were RMB201.8 million (US$28.2 million), a slightly decrease of 0.4% from RMB202.7 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 RMB81.6 million (US$11.4 million), compared with net income from operations of RMB53.6 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 RMB102.2 million (US$14.3 million), increased by 14.1% year over year, compared with Non-GAAP income from operations of RMB89.6 million in the same quarter of 2024.

Net income was RMB107.2 million (US$15.0 million), compared with net income of RMB67.1 million in the same quarter of 2024.

Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB127.8 million (US$17.8 million), increased by 23.9% year over year, compared with non-GAAP net income of RMB103.1 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 2.1% compared with 1.8% in the same quarter of 2024.

Basic and diluted net income per share were RMB0.32 and RMB0.31 (US$0.04), compared with net income per share of RMB0.20 in the same quarter of 2024. Non-GAAP net income per share, basic and diluted, were RMB0.39 and RMB0.37 (US$0.05), compared with RMB0.31 in the same quarter of 2024.

Cash and cash equivalents, restricted cash and short-term investments were RMB3,974.2 million (US$554.8 million) as of June 30, 2025, compared with RMB4,294.5 million as of March 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 RMB2.95 billion, a net increase for the eighth consecutive quarter, compared with RMB2.89 billion as of March 31, 2025.

Guidance

The Company is looking to maintain scale year-over-year and achieve non-GAAP profits in the third quarter of 2025.

Conference Call

The Company's management will hold an earnings conference call at 8:00 A.M. Eastern Time on Thursday, August 21, 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:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

86-4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

0358096






The replay will be accessible through August 28, 2025 by dialing the following numbers:

International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

5040747






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 RMB7.1636 to US$1.00, the exchange rate on June 30, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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.

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of RMB and US$)



As of



December 31,
2024

June 30,

2025

June 30,

2025



RMB

RMB

US$



 (Unaudited)

ASSETS









Current assets:









Cash and cash equivalents

887,427

926,209

129,294

Restricted cash

2,788

1,630

228

Short-term investments

3,561,977

3,046,326

425,251

Accounts receivable, net

125,896

136,912

19,112

Inventories, net

553,601

504,934

70,486

Advance to suppliers

62,730

96,275

13,439

Prepayments and other current assets

170,753

193,875

27,064

Total current assets

5,365,172

4,906,161

684,874











Non-current assets:









Property and equipment, net

176,290

196,384

27,414

Operating lease right-of-use assets

1,464,791

1,509,628

210,736

Other non-current assets

111,395

145,938

20,372

Total non-current assets

1,752,476

1,851,950

258,522











TOTAL ASSETS

7,117,648

6,758,111

943,396











LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY

Current liabilities:









Accounts payable

1,660,472

1,782,194

248,784

Customer advances and deferred revenue

279,276

249,154

34,781

Accrued expenses and other current
    liabilities

 

767,082

755,559

105,472

Salary and welfare payable

317,152

218,035

30,437

Operating lease liabilities, current

640,245

667,992

93,248

Short-term borrowings

1,606,253

1,061,954

148,243

Total current liabilities

5,270,480

4,734,888

660,965











Non-current liabilities:









Operating lease liabilities, non-current

780,036

805,058

112,382

Other non-current liabilities

143,118

145,122

20,258

Total non-current liabilities

923,154

950,180

132,640











TOTAL LIABILITIES

6,193,634

5,685,068

793,605

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands of RMB and US$)



As of



December 31,

2024

June 30,

2025

June 30,

2025



RMB

RMB

US$






(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY (CONTINUED)

Mezzanine Equity:









Redeemable noncontrolling interests

125,403

130,282

18,187

TOTAL MEZZANINE EQUITY

125,403

130,282

18,187

Shareholders' equity:









Ordinary shares

4

4

1

Additional paid-in capital

14,181,030

14,224,126

1,985,610

Treasury stock

(51,176)

(51,176)

(7,144)

Accumulated deficit

(13,384,881)

(13,274,555)

(1,853,056)

Accumulated other comprehensive income

53,634

44,362

6,193











TOTAL SHAREHOLDERS' EQUITY

798,611

942,761

131,604

TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY

 

7,117,648

6,758,111

943,396

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME

(Amounts in thousands of RMB and US$, except for number of shares and per share data)



For the three months ended

June 30,



2024

2025

2025



 RMB 

RMB

US$



(Unaudited)

Revenues:









Product revenues

5,517,850

5,893,728

822,733

Service revenues

81,103

82,141

11,466






















Total revenues

5,598,953

5,975,869

834,199











Operating costs and expenses:









Cost of goods sold

(3,919,445)

(4,255,182)

(594,001)

Fulfillment expenses

(1,252,859)

(1,297,277)

(181,093)

Sales and marketing expenses

(129,659)

(102,917)

(14,367)

Product development expenses

(202,663)

(201,822)

(28,173)

General and administrative expenses

(108,165)

(122,906)

(17,157)











Total operating costs and expenses

(5,612,791)

(5,980,104)

(834,791)











Other operating income, net

67,438

85,870

11,987

Income from operations

53,600

81,635

11,395

Interest income

37,807

33,393

4,663

Interest expenses

(14,023)

(4,820)

(673)

Other (loss)/income, net

(2,844)

783

109











Income before income tax

74,540

110,991

15,494











Income tax expenses

(7,414)

(3,804)

(531)











Net income



67,126

107,187

14,963











Accretion of redeemable noncontrolling interests

(2,292)

(2,476)

(346)











Net income attributable to ordinary shareholders

64,834

104,711

14,617

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED)

(Amounts in thousands of RMB and US$, except for number of shares and per share data) 



For the three months ended

June 30,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Net income per Class A and Class B ordinary share:









Basic

0.20

0.32

0.04

Diluted

0.20

0.31

0.04

Shares used in net income per Class A and Class B
    ordinary share computation:









Basic

325,430,984

324,632,496

324,632,496

Diluted

329,814,651

335,355,966

335,355,966

Other comprehensive income/(loss), net of tax of nil:









Foreign currency translation adjustments

9,441

(6,141)

(857)











Comprehensive income

76,567

101,046

14,106











Accretion of redeemable noncontrolling interests

(2,292)

(2,476)

(346)











Comprehensive income attributable to ordinary
   shareholders

74,275

98,570

13,760

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)



For the three months ended

June 30,



2024

2025

2025



RMB

RMB

US$



(Unaudited)











Net cash generated from operating activities

245,738

101,401

14,155











Net cash generated from/ (used in) investing activities

278,839

(46,026)

(6,425)











Net cash used in financing activities



(592,905)

(344,390)

(48,075)











Effect of exchange rate changes on cash and cash equivalents and
   restricted cash

(1,479)

(140)

(19)

Net decrease in cash and cash equivalents and restricted cash



 

(69,807)

(289,155)

(40,364)











Cash and cash equivalents and restricted cash at the beginning of the period

1,131,474

1,216,994

169,886

Cash and cash equivalents and restricted cash at the
   end of the period



1,061,667

927,839

129,522

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)



For the three months ended
June 30,



2024

2025

2025



RMB  

RMB  

US$  



(Unaudited)

Income from operations

53,600

81,635

11,395

Add: share-based compensation expenses (1)

36,001

20,583

2,873











Non-GAAP income from operations

89,601

102,218

14,268






















Operating margin

1.0 %

1.4 %

1.4 %

Add: share-based compensation expenses

0.6 %

0.3 %

0.3 %

Non-GAAP operating margin

1.6 %

1.7 %

1.7 %











Net income



67,126

107,187

14,963

Add: share-based compensation expenses (1)

36,001

20,583

2,873











Non-GAAP net income

103,127

127,770

17,836











Net income margin

1.2 %

1.8 %

1.8 %

Add: share-based compensation expenses

0.6 %

0.3 %

0.3 %

Non-GAAP net income margin

1.8 %

2.1 %

2.1 %











Net income attributable to ordinary shareholders

64,834

104,711

14,617











Add: share-based compensation expenses (1)

36,001

20,583

2,873











Non-GAAP net income attributable to ordinary
  shareholders

100,835

125,294

17,490











Net income per Class A and Class B ordinary share:









Basic



0.20

0.32

0.04

Diluted

0.20

0.31

0.04

Add: share-based compensation expenses









Basic



0.11

0.07

0.01

Diluted

0.11

0.06

0.01

Non-GAAP net income per Class A and Class B ordinary share:




















Basic



0.31

0.39

0.05

Diluted

0.31

0.37

0.05

 

 

(1) Share-based compensation expenses are recognized as follows:



For the three months ended

June 30,



2024

2025

2025



RMB

RMB

US$



(Unaudited)











Fulfillment expenses

7,825

3,926

548

Sales and marketing expenses

1,844

1,387

194

Product development expenses

15,595

8,590

1,199

General and administrative expenses

10,737

6,680

932











Total

36,001

20,583

2,873











 

 

 

]]> Dingdong to Report Second Quarter 2025 Financial Results on August 21, 2025 2025-08-18 19:00:00 . About Dingdong (Cayman) Limited Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me .   ]]> SHANGHAI, Aug. 18, 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 that it will report its unaudited financial results for the second quarter ended June 30, 2025, before U.S. markets open on August 21, 2025.

The Company will hold an earnings conference call at 8:00 A.M. Eastern Time on Thursday, August 21, 2025 (8:00 P.M. Beijing Time on the same day) to discuss its financial results. Management's prepared remarks and the question-and-answer session will be conducted in English and Mandarin. Dial-in details for the earnings conference call are as follows:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

+86-4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

0358096

The replay will be accessible through August 28, 2025 by dialing the following numbers:

International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

5040747

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

Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

 

]]> Dingdong (Cayman) Limited Announces First Quarter 2025 Financial Results 2025-05-16 17:30:00 . 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 ofRMB7.2567 to US$1.00, the exchange rate on March 31, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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 inChina; 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 inChina 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.   DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of RMB and US$) As of December 31, 2024 March 31, 2025 March 31, 2025 RMB RMB US$ (Unaudited) ASSETS Current assets: Cash and cash equivalents 887,427 1,212,956 167,150 Restricted cash 2,788 4,037 556 Short-term investments 3,561,977 3,077,508 424,092 Accounts receivable, net 125,896 134,860 18,584 Inventories, net 553,601 471,610 64,990 Advance to suppliers 62,730 84,390 11,629 Prepayments and other current assets 170,753 182,181 25,105 Total current assets 5,365,172 5,167,542 712,106 Non-current assets: Property and equipment, net 176,290 189,506 26,115 Operating lease right-of-use assets 1,464,791 1,443,762 198,956 Other non-current assets 111,395 109,036 15,025 Total non-current assets 1,752,476 1,742,304 240,096 TOTAL ASSETS 7,117,648 6,909,846 952,202 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 1,660,472 1,642,311 226,317 Customer advances and deferred revenue 279,276 258,839 35,669 Accrued expenses and other current     liabilities   767,082   765,036   105,425 Salary and welfare payable 317,152 343,455 47,329 Operating lease liabilities, current 640,245 622,210 85,743 Short-term borrowings 1,606,253 1,406,342 193,799 Total current liabilities 5,270,480 5,038,193 694,282 Non-current liabilities: Operating lease liabilities, non-current 780,036 776,243 106,969 Other non-current liabilities 143,118 144,073 19,854 Total non-current liabilities 923,154 920,316 126,823 TOTAL LIABILITIES 6,193,634 5,958,509 821,105   DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in thousands of RMB and US$) As of December 31, 2024 March 31, 2025 March 31, 2025 RMB RMB US$ (Unaudited) LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (CONTINUED) Mezzanine Equity: Redeemable noncontrolling interests 125,403 127,806 17,612 TOTAL MEZZANINE EQUITY 125,403 127,806 17,612 Shareholders' equity: Ordinary shares 4 4 1 Additional paid-in capital 14,181,030 14,203,465 1,957,290 Treasury stock (51,176) (51,176) (7,052) Accumulated deficit (13,384,881) (13,379,265) (1,843,713) Accumulated other comprehensive income 53,634 50,503 6,959 TOTAL SHAREHOLDERS' EQUITY 798,611 823,531 113,485 TOTAL LIABILITIES, MEZZANINE EQUITY      AND SHAREHOLDERS' EQUITY   7,117,648   6,909,846   952,202   DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended March 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Revenues: Product revenues 4,944,289 5,386,500 742,280 Service revenues 79,755 92,539 12,752 Total revenues 5,024,044 5,479,039 755,032 Operating costs and expenses: Cost of goods sold (3,488,696) (3,842,106) (529,456) Fulfillment expenses (1,146,982) (1,256,094) (173,094) Sales and marketing expenses (111,048) (109,953) (15,152) Product development expenses (193,262) (197,969) (27,281) General and administrative expenses (105,028) (112,881) (15,555) Total operating costs and expenses (5,045,016) (5,519,003) (760,538) Other operating income, net 9,858 18,723 2,580 Loss from operations (11,114) (21,241) (2,926) Interest income 40,298 35,123 4,840 Interest expenses (16,773) (5,964) (822) Other income, net 1,561 1,657 228 Income before income tax 13,972 9,575 1,320 Income tax expenses (1,699) (1,558) (215) Net income 12,273 8,017 1,105 Accretion of redeemable noncontrolling interests (2,249) (2,402) (331) Net income attributable to ordinary shareholders 10,024 5,615 774   DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (CONTINUED) (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended March 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Net income per Class A and Class B ordinary share: Basic and diluted 0.03 0.02 - Shares used in net income per Class A and Class B     ordinary share computation: Basic 325,024,592 324,576,757 324,576,757 Diluted 328,469,733 336,977,726 336,977,726 Other comprehensive income/(loss), net of tax of nil: Foreign currency translation adjustments 3,517 (3,131) (431) Comprehensive income 15,790 4,886 674 Accretion of redeemable noncontrolling interests (2,249) (2,402) (331) Comprehensive income attributable to ordinary    shareholders 13,541 2,484 343   DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of RMB and US$) For the three months ended March 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Net cash generated from operating activities 94,775 85,234 11,745 Net cash generated from investing activities 708,001 441,686 60,866 Net cash used in financing activities (881,234) (199,911) (27,548) Effect of exchange rate changes on cash and cash     equivalents and restricted cash 228 (231) (32) Net (decrease)/increase in cash and cash equivalents     and restricted cash   (78,230) 326,778 45,031 Cash and cash equivalents and restricted cash at the     beginning of the period   1,209,704   890,215   122,675 Cash and cash equivalents and restricted cash at the     end of the period 1,131,474 1,216,993 167,706   DINGDONG (CAYMAN) LIMITED  UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended March 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Loss from operations (11,114) (21,241) (2,926) Add: share-based compensation expenses (1) 29,207 22,329 3,077 Non-GAAP income from operations 18,093 1,088 151 Operating margin (0.2 %) (0.4 %) (0.4 %) Add: share-based compensation expenses 0.6 % 0.5 % 0.5 % Non-GAAP operating margin 0.4 % 0.1 % 0.1 % Net income 12,273 8,017 1,105 Add: share-based compensation expenses (1) 29,207 22,329 3,077 Non-GAAP net income 41,480 30,346 4,182 Net income margin 0.2 % 0.1 % 0.1 % Add: share-based compensation expenses 0.6 % 0.5 % 0.5 % Non-GAAP net income margin 0.8 % 0.6 % 0.6 % Net income attributable to ordinary shareholders 10,024 5,615 774 Add: share-based compensation expenses (1) 29,207 22,329 3,077 Non-GAAP net income attributable to ordinary     shareholders 39,231 27,944 3,851 Net income per Class A and Class B ordinary share: Basic and diluted 0.03 0.02 - Add: share-based compensation expenses Basic and diluted 0.09 0.07 - Non-GAAP net income per Class A and Class B ordinary     share: Basic and diluted 0.12 0.09 - (1) Share-based compensation expenses are recognized as follows: For the three months ended March 31, 2024 2025 2025 RMB RMB US$ (Unaudited) Fulfillment expenses 3,974 4,770 657 Sales and marketing expenses 1155 1541 212 Product development expenses 15,544 7,602 1,048 General and administrative expenses 8,534 8,416 1,160 Total 29,207 22,329 3,077   ]]> SHANGHAI, May 16, 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 March 31, 2025.

First Quarter 2025 Highlights: 

  • GMV for the first quarter of 2025 increased by 7.9% year over year to RMB5,960.7 million (US$821.4 million) from RMB5,525.1 million in the same quarter of 2024, positive year-on-year growth for five straight quarters.
  • Total number of orders increased by 12.1% year over year in the first quarter of 2025.
  • Non-GAAP net income for the first quarter of 2025 was RMB30.3 million (US$4.2 million), the tenth consecutive quarter of non-GAAP profitability.

Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, "As of the first quarter of 2025, we have achieved non-GAAP profitability for ten consecutive quarters and GAAP profitability for five quarters. Additionally, we've seen positive year-on-year revenue growth for five straight quarters. This consistent growth in both scale and profitability has undoubtedly laid a strong foundation for our future development. In the context of today's intense competition, we have identified the following core advantages: robust supply chain capabilities; distinct positioning; a robust ecosystem; strong organizational ability and implementation; We have introduced the 4G strategy focusing on "good users, good products, good services, and good mindshare." We've begun to see some great results in this quarter that Dingdong is rolling out more unique and high-quality products, our users are happier than ever, and our supply chain efficiency is steadily improving. Over time, our advantages will become increasingly evident."

Mr. Song Wang, Chief Financial Officer of Dingdong, stated, "In the first quarter of 2025, Dingdong reported a revenue of RMB5.48 billion, reflecting a 9.1% year-over-year increase and marking five consecutive quarters of positive growth. Non-GAAP net profit was RMB30.3 million, and GAAP net profit was RMB8.0 million, and operating net cash inflow reached RMB85 million. The Company continued to demonstrate positive profitability alongside positive operating net cash inflow. By the end of the first quarter, after accounting for short-term loans, our actual funds amounted to RMB2.89 billion, indicating a continued net increase. This year, we are committed to executing our "narrow yet deep" value proposition, intensifying our efforts to satisfy consumers through quality products and services, while establishing a unique path focused on quality, stability, and consistent supply capabilities."

First Quarter 2025 Financial Results

Total revenues were RMB5,479.0 million (US$755.0 million) compared with total revenues of RMB5,024.0 million in the same quarter of 2024, 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 suspension of operations for a number of stations in 2024, more outbound residents from Jiangsu, Zhejiang, and Shanghai during this Chinese New Year, and the impact of the decline in food CPI prices in the first quarter of 2025.

  • Product Revenues were RMB5,386.5 million (US$742.3 million) compared with product revenues of RMB4,944.3 million in the same quarter of 2024.
  • Service Revenues were RMB92.5 million (US$12.8 million) compared with service revenues of RMB79.8 million in the same quarter of 2024, primarily driven by the increase of customers subscribing to Dingdong's membership program, and more delivery fees collected with more orders in this quarter.

Total operating costs and expenses were RMB5,519.0 million (US$760.5million) compared with RMB5,045.0 million in the same quarter of 2024, with a detailed breakdown as below:   

  • Cost of goods sold was RMB3,842.1 million (US$529.5 million), an increase of 10.1% from RMB3,488.7 million in the same quarter of 2024. Cost of goods sold as a percentage of revenues increased slightly to 70.1% from 69.4% in the same quarter of 2024. Gross margin decreased to 29.9% from 30.6% in the same quarter of 2024.
  • Fulfillment expenses were RMB1,256.1 million (US$173.1 million), an increase of 9.5% from RMB1,147.0 million in the same quarter of 2024. Fulfillment expenses as a percentage of total revenues increased to 22.9% from 22.8% in the same quarter of 2024.
  • Sales and marketing expenses were RMB110.0 million (US$15.2 million), a decrease of 1.0% from RMB111.0 million in the same quarter of 2024. Sales and marketing expenses as a percentage of total revenues decreased slightly to 2.0% from 2.2% in the same quarter of 2024.
  • General and administrative expenses were RMB112.9 million (US$15.6 million), an increase of 7.5% from RMB105.0 million in the same quarter of 2024, mainly due to the increase of staff cost.
  • Product development expenses were RMB198.0 million (US$27.3 million), an increase of 2.4% from RMB193.3 million in the same quarter of 2024, primarily due to the increase of staff cost. 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, to further enhance our competitiveness.

Loss from operations was RMB21.2 million (US$2.9 million), compared with operating loss of RMB11.1 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 RMB1.1 million (US$0.2 million), decreased by 94.0% year over year, compared with Non-GAAP income from operations of RMB18.1 million in the same quarter of 2024.

Net income was RMB8.0 million (US$1.1 million), compared with net income of RMB12.3 million in the same quarter of 2024.

Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB30.3 million (US$4.2 million), decreased by 26.8% year over year, compared with non-GAAP net income of RMB41.5 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 0.6% compared with 0.8% in the same quarter of 2024.

Basic and diluted net income per share were RMB0.02 (US$0.00), compared with net income per share of RMB0.03 in the same quarter of 2024. Non-GAAP net income per share, basic and diluted, was RMB0.09 (US$0.00), compared with RMB0.12 in the same quarter of 2024.

Cash and cash equivalents, restricted cash and short-term investments were RMB4,294.5 million (US$591.8 million) as of March 31, 2025, compared with RMB4,452.2 million as of December 31, 2024. We have been working diligently to optimize our capital usage and financing structure. The cash and cash equivalents, restricted cash and short-term investments deducting the balance of short-term borrowings, is RMB 2.9 billion, a net increase for the seventh consecutive quarter.

Guidance

The Company is looking to sustain year-over-year growth in scale and achieve non-GAAP profits in the second quarter of 2025.

Conference Call

The Company's management will hold an earnings conference call at 8:00 A.M. Eastern Time on Friday, May 16, 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:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

86-4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

3897934

The replay will be accessible through May 23, 2025 by dialing the following numbers:

International:

1-412-317-0088

United States:                  

1-877-344-7529

Access Code:

1862999

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 RMB7.2567 to US$1.00, the exchange rate on March 31, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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.

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of RMB and US$)




As of



December 31,
2024

March 31,

2025

March 31,

2025



RMB

RMB

US$






(Unaudited)

ASSETS









Current assets:









Cash and cash equivalents

887,427

1,212,956

167,150

Restricted cash

2,788

4,037

556

Short-term investments

3,561,977

3,077,508

424,092

Accounts receivable, net

125,896

134,860

18,584

Inventories, net

553,601

471,610

64,990

Advance to suppliers

62,730

84,390

11,629

Prepayments and other current assets

170,753

182,181

25,105

Total current assets

5,365,172

5,167,542

712,106











Non-current assets:









Property and equipment, net

176,290

189,506

26,115

Operating lease right-of-use assets

1,464,791

1,443,762

198,956

Other non-current assets

111,395

109,036

15,025

Total non-current assets

1,752,476

1,742,304

240,096











TOTAL ASSETS

7,117,648

6,909,846

952,202











LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY

Current liabilities:









Accounts payable

1,660,472

1,642,311

226,317

Customer advances and deferred revenue

279,276

258,839

35,669

Accrued expenses and other current
    liabilities

 

767,082

 

765,036

 

105,425

Salary and welfare payable

317,152

343,455

47,329

Operating lease liabilities, current

640,245

622,210

85,743

Short-term borrowings

1,606,253

1,406,342

193,799

Total current liabilities

5,270,480

5,038,193

694,282











Non-current liabilities:









Operating lease liabilities, non-current

780,036

776,243

106,969

Other non-current liabilities

143,118

144,073

19,854

Total non-current liabilities

923,154

920,316

126,823











TOTAL LIABILITIES

6,193,634

5,958,509

821,105

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands of RMB and US$)




As of



December 31,

2024

March 31,

2025

March 31,

2025



RMB

RMB

US$






(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY (CONTINUED)

Mezzanine Equity:









Redeemable noncontrolling interests

125,403

127,806

17,612











TOTAL MEZZANINE EQUITY

125,403

127,806

17,612











Shareholders' equity:









Ordinary shares

4

4

1

Additional paid-in capital

14,181,030

14,203,465

1,957,290

Treasury stock

(51,176)

(51,176)

(7,052)

Accumulated deficit

(13,384,881)

(13,379,265)

(1,843,713)

Accumulated other comprehensive income

53,634

50,503

6,959











TOTAL SHAREHOLDERS' EQUITY

798,611

823,531

113,485











TOTAL LIABILITIES, MEZZANINE EQUITY
     AND SHAREHOLDERS' EQUITY

 

7,117,648

 

6,909,846

 

952,202

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended

March 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Revenues:









Product revenues

4,944,289

5,386,500

742,280

Service revenues

79,755

92,539

12,752











Total revenues

5,024,044

5,479,039

755,032











Operating costs and expenses:









Cost of goods sold

(3,488,696)

(3,842,106)

(529,456)

Fulfillment expenses

(1,146,982)

(1,256,094)

(173,094)

Sales and marketing expenses

(111,048)

(109,953)

(15,152)

Product development expenses

(193,262)

(197,969)

(27,281)

General and administrative expenses

(105,028)

(112,881)

(15,555)











Total operating costs and expenses

(5,045,016)

(5,519,003)

(760,538)











Other operating income, net

9,858

18,723

2,580

Loss from operations

(11,114)

(21,241)

(2,926)

Interest income

40,298

35,123

4,840

Interest expenses

(16,773)

(5,964)

(822)

Other income, net

1,561

1,657

228











Income before income tax

13,972

9,575

1,320











Income tax expenses

(1,699)

(1,558)

(215)











Net income



12,273

8,017

1,105











Accretion of redeemable noncontrolling interests

(2,249)

(2,402)

(331)






















Net income attributable to ordinary shareholders

10,024

5,615

774

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME (CONTINUED)

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended

March 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Net income per Class A and Class B ordinary share:









Basic and diluted

0.03

0.02

-

Shares used in net income per Class A and Class B
    ordinary share computation:









Basic

325,024,592

324,576,757

324,576,757

Diluted

328,469,733

336,977,726

336,977,726

Other comprehensive income/(loss), net of tax of nil:









Foreign currency translation adjustments

3,517

(3,131)

(431)











Comprehensive income

15,790

4,886

674











Accretion of redeemable noncontrolling interests

(2,249)

(2,402)

(331)

Comprehensive income attributable to ordinary
   shareholders

13,541

2,484

343

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)




For the three months ended

March 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)











Net cash generated from operating activities

94,775

85,234

11,745











Net cash generated from investing activities

708,001

441,686

60,866











Net cash used in financing activities



(881,234)

(199,911)

(27,548)











Effect of exchange rate changes on cash and cash
    equivalents and restricted cash

228

(231)

(32)

Net (decrease)/increase in cash and cash equivalents
    and restricted cash



 

(78,230)

326,778

45,031











Cash and cash equivalents and restricted cash at the
    beginning of the period

 

1,209,704

 

890,215

 

122,675

Cash and cash equivalents and restricted cash at the
    end of the period



1,131,474

1,216,993

167,706

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended
March 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)

Loss from operations

(11,114)

(21,241)

(2,926)

Add: share-based compensation expenses (1)

29,207

22,329

3,077

Non-GAAP income from operations

18,093

1,088

151











Operating margin

(0.2 %)

(0.4 %)

(0.4 %)

Add: share-based compensation expenses

0.6 %

0.5 %

0.5 %

Non-GAAP operating margin

0.4 %

0.1 %

0.1 %











Net income



12,273

8,017

1,105

Add: share-based compensation expenses (1)

29,207

22,329

3,077

Non-GAAP net income

41,480

30,346

4,182











Net income margin

0.2 %

0.1 %

0.1 %

Add: share-based compensation expenses

0.6 %

0.5 %

0.5 %

Non-GAAP net income margin

0.8 %

0.6 %

0.6 %











Net income attributable to ordinary shareholders

10,024

5,615

774











Add: share-based compensation expenses (1)

29,207

22,329

3,077

Non-GAAP net income attributable to ordinary
    shareholders

39,231

27,944

3,851

Net income per Class A and Class B ordinary share:









Basic and diluted

0.03

0.02

-

Add: share-based compensation expenses









Basic and diluted

0.09

0.07

-

Non-GAAP net income per Class A and Class B ordinary
    share:









Basic and diluted

0.12

0.09

-

(1) Share-based compensation expenses are recognized as follows:



For the three months ended
March 31,



2024

2025

2025



RMB

RMB

US$



(Unaudited)











Fulfillment expenses

3,974

4,770

657

Sales and marketing expenses

1155

1541

212

Product development expenses

15,544

7,602

1,048

General and administrative expenses

8,534

8,416

1,160











Total

29,207

22,329

3,077

 

]]> Dingdong to Report First Quarter 2025 Financial Results on May 16, 2025 2025-05-13 18:00:00 . About Dingdong (Cayman) Limited Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me .   ]]> SHANGHAI, May 13, 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 that it will report its unaudited financial results for the first quarter ended March 31, 2025, before U.S. markets open on May 16, 2025.

The Company will hold an earnings conference call at 8:00 A.M. Eastern Time on Friday, May 16, 2025 (8:00 P.M. Beijing Time on the same day) to discuss its financial results. Management's prepared remarks and the question-and-answer session will be conducted in English and Mandarin. Dial-in details for the earnings conference call are as follows:

 

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

3897934

 

The replay will be accessible through May 23, 2025 by dialing the following numbers:

 

International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

1862999

 

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

Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

 

]]> Dingdong Files Its Annual Report on Form 20-F 2025-04-21 18:30:00 . The Company will also provide a hard copy of its Annual Report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. About Dingdong (Cayman) Limited Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me .   ]]> SHANGHAI, April 21, 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 that it filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission on April 21, 2025.

The Annual Report can be accessed on the Company's investor relations website at https://ir.100.me. The Company will also provide a hard copy of its Annual Report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request.

About Dingdong (Cayman) Limited

Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

 

]]> Dingdong (Cayman) Limited Announces Fourth Quarter 2024 Financial Results 2025-03-06 17:30:00 . 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 ofRMB7.2993 to US$1.00, the exchange rate on December 31, 2024 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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 inChina; 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 inChina 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.     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of RMB and US$) As of December 31, 2023 December 31, 2024 December 31, 2024 RMB RMB US$ (Unaudited) ASSETS Current assets: Cash and cash equivalents 1,209,225 887,427 121,577 Restricted cash 480 2,788 382 Short-term investments 4,099,977 3,561,977 487,989 Accounts receivable, net 107,879 125,896 17,248 Inventories, net 471,872 553,601 75,843 Advance to suppliers 73,732 62,730 8,594 Prepayments and other current assets 187,486 170,753 23,393 Total current assets 6,150,651 5,365,172 735,026 Non-current assets: Property and equipment, net 189,084 176,290 24,152 Operating lease right-of-use assets 1,262,134 1,464,791 200,676 Other non-current assets 96,687 111,395 15,260 Total non-current assets 1,547,905 1,752,476 240,088 TOTAL ASSETS 7,698,556 7,117,648 975,114 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 1,422,183 1,660,472 227,484 Customer advances and deferred revenue 240,280 279,276 38,261 Accrued expenses and other current     liabilities 656,408   767,082   105,090 Salary and welfare payable 233,073 317,152 43,450 Operating lease liabilities, current 653,529 640,245 87,713 Short-term borrowings 3,300,214 1,606,253 220,056 Total current liabilities 6,505,687 5,270,480 722,054 Non-current liabilities: Operating lease liabilities, non-current 568,039 780,036 106,864 Other non-current liabilities 126,206 143,118 19,607 Total non-current liabilities 694,245 923,154 126,471 TOTAL LIABILITIES 7,199,932 6,193,634 848,525     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (Amounts in thousands of RMB and US$) As of December 31, 2023 December 31, 2024 December 31, 2024 RMB RMB US$ (Unaudited) LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (CONTINUED) Mezzanine Equity: Redeemable noncontrolling interests 116,090 125,403 17,180 TOTAL MEZZANINE EQUITY 116,090 125,403 17,180 Shareholders' equity: Ordinary shares 4 4 1 Additional paid-in capital 14,061,991 14,181,030 1,942,793 Treasury stock (20,666) (51,176) (7,011) Accumulated deficit (13,679,964) (13,384,881) (1,833,721) Accumulated other comprehensive loss 21,169 53,634 7,347 TOTAL SHAREHOLDERS' EQUITY 382,534 798,611 109,409 TOTAL LIABILITIES, MEZZANINE EQUITY     AND SHAREHOLDERS' EQUITY 7,698,556 7,117,648 975,114     DINGDONG (CAYMAN) LIMITED  UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended December 31, 2023 2024 2024 RMB RMB US$ (Unaudited) Revenues: Product revenues 4,922,419 5,822,527 797,683 Service revenues 71,035 82,495 11,302 Total revenues 4,993,454 5,905,022 808,985 Operating costs and expenses: Cost of goods sold (3,467,818) (4,120,793) (564,546) Fulfillment expenses (1,171,734) (1,278,904) (175,209) Sales and marketing expenses (105,168) (137,513) (18,839) Product development expenses (191,218) (201,632) (27,623) General and administrative expenses (93,850) (109,195) (14,961) Total operating costs and expenses (5,029,788) (5,848,037) (801,178) Other operating income, net 14,452 4,534 621 (Loss) /income from operations (21,882) 61,519 8,428 Interest income 42,292 37,879 5,189 Interest expenses (21,241) (6,852) (939) Other (expenses)/income, net (724) 2,875 394 (Loss)/Income before income tax (1,555) 95,421 13,072 Income tax expenses (2,833) (3,830) (524) Net (loss)/income (4,388) 91,591 12,548 Accretion of redeemable noncontrolling interests (2,230) (2,409) (330) Net (loss) /income attributable to ordinary     shareholders (6,618) 89,182 12,218     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME  (CONTINUED) (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended December 31, 2023 2024 2024 RMB RMB US$ (Unaudited) Net (loss) /income per Class A and Class B ordinary    share: Basic (0.02) 0.27 0.04 Diluted (0.02) 0.26 0.04 Shares used in net (loss) /income per Class A and    Class B ordinary share computation: Basic 324,976,237 324,500,919 324,500,919 Diluted 324,976,237 337,933,639 337,933,639 Other comprehensive income, net of tax of nil: Foreign currency translation adjustments (26,288) 55,517 7,606 Comprehensive (loss) /income (30,676) 147,108 20,154 Accretion of redeemable noncontrolling interests (2,231) (2,409) (330) Comprehensive (loss) /income attributable to     ordinary shareholders (32,907) 144,699 19,824     DINGDONG (CAYMAN) LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands of RMB and US$) For the three months ended December 31, 2023 2024 2024 RMB RMB US$ (Unaudited) Net cash generated from operating activities 119,835 190,878 26,150 Net cash generated/(used in) investing activities 186,761 (158,850) (21,762) Net cash used in financing activities (393,781) (49,678) (6,806) Effect of exchange rate changes on cash and cash     equivalents and restricted cash (818) 3,425 469 Net decrease in cash and cash equivalents and      restricted cash (88,003) (14,225) (1,949) Cash and cash equivalents and restricted cash at the       beginning of the period   1,297,708   904,440   123,908 Cash and cash equivalents and restricted cash at       the end of the period 1,209,705 890,215 121,959     DINGDONG (CAYMAN) LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands of RMB and US$, except for number of shares and per share data) For the three months ended December 31, 2023 2024 2024 RMB    RMB    US$   (Unaudited) (Loss) /income from operations (21,882) 61,519 8,428 Add: share-based compensation expenses (1) 20,639 25,073 3,434 Non-GAAP (loss)/income from operations (1,243) 86,592 11,862 Operating margin (0.4 %) 1.1 % 1.1 % Add: share-based compensation expenses 0.4 % 0.4 % 0.4 % Non-GAAP operating margin 0.0 % 1.5 % 1.5 % Net (loss)/income (4,388) 91,591 12,548 Add: share-based compensation expenses (1) 20,639 25,073 3,434 Non-GAAP net income 16,251 116,664 15,982 Net (loss)/income margin (0.1 %) 1.6 % 1.6 % Add: share-based compensation expenses 0.4 % 0.4 % 0.4 % Non-GAAP net income margin 0.3 % 2.0 % 2.0 % Net (loss) /income attributable to ordinary shareholders (6,618) 89,182 12,218 Add: share-based compensation expenses (1) 20,639 25,073 3,434 Non-GAAP net income attributable to ordinary      shareholders 14,021 114,255 15,652 Net (loss) /income per Class A and Class B ordinary share: Basic (0.02) 0.27 0.04 Diluted (0.02) 0.26 0.04 Add: share-based compensation expenses Basic 0.06 0.08 0.01 Diluted 0.06 0.07 0.01 Non-GAAP net income per Class A and Class B      ordinary share: Basic 0.04 0.35 0.05 Diluted 0.04 0.33 0.05 (1) Share-based compensation expenses are recognized as follows: For the three months ended December 31, 2023 2024 2024  RMB     RMB    US$     (Unaudited) Fulfillment expenses 3,551 4,148 568 Sales and marketing expenses (341) 1,520 208 Product development expenses 12,361 12,468 1,708 General and administrative expenses 5,068 6,937 950 Total 20,639 25,073 3,434       ]]> SHANGHAI, March 6, 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 December 31, 2024.

Fourth Quarter 2024 Highlights:

  • GMV for the fourth quarter of 2024 increased by 18.4% year over year to RMB6,546.6 million (US$896.9 million) from RMB5,530.3 million in the same quarter of 2023. It has increased on a year-over-year basis for four straight quarters.
  • Non-GAAP net income for the fourth quarter of 2024 increased by 617.9% year over year to RMB116.7 million (US$16.0 million), the ninth consecutive quarter of non-GAAP profitability, compared with non-GAAP net income of RMB16.3 million in the same quarter of 2023.
  • Net income for the fourth quarter of 2024 was RMB91.6 million (US$12.5 million), the fourth consecutive quarter of profitability, compared with a net loss of RMB4.4 million in the same quarter of 2023.
  • Net cash provided by operating activities for the fourth quarter of 2024 was RMB190.9 million (US$26.2 million), the sixth consecutive quarter of net operating cash inflow.

Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, "As of the fourth quarter of 2024, we achieved non-GAAP profitability for the ninth consecutive quarter and GAAP profitability for the fourth consecutive quarter. Additionally, we have recorded positive year-over-year revenue growth for four straight quarters. The rapid performance growth is mainly fueled by the increasing user penetration rate, improved user conversion rates, higher user ARPU. We also accelerated the development of our forward warehouse network in Jiangsu, Zhejiang, and Shanghai regions. Over the past year, we have developed a variety of products, including our popular crabs and Dingdong's customized pumpkin raw milk. Looking ahead, we are committed to expanding our mission of creating high-quality products that are also reasonably priced. Better products, better service to the clients are our mission and original aspiration."

Mr. Song Wang, Chief Financial Officer of Dingdong, stated, "In the fourth quarter of 2024, our revenue reached 5.91 billion RMB, an increase of 18.3% compared to the previous year. Meanwhile, GMV totaled 6.55 billion RMB, an 18.4% year-over-year rise. Non-GAAP net profit margin was 2%, resulting in a net profit of 116.7 million RMB. GAAP net profit margin was 1.6%, which amounted to a net profit of 91.6 million RMB. Additionally, the operating net cash inflow was 190.9 million RMB, resulting in positive net inflow for six consecutive quarters. Through high-quality growth and sustained profitability, Dingdong will continue to tackle challenging tasks with a pragmatic approach, aiming to satisfy consumers with excellent products and services while establishing our own differentiated path through stable quality and supply capabilities." 

Fourth Quarter 2024 Financial Results

Total revenues were RMB5,905.0 million (US$809.0million) compared with total revenues of RMB4,993.5 million in the same quarter of 2023, increased by 18.3% year over year, primarily attributed to the increased numbers of transacting users, improved user conversion rates, higher user ARPU, increased frequency of monthly purchases and expanding our station network in Jiangsu, Zhejiang, and Shanghai this year.

  • Product Revenues were RMB5,822.5 million (US$797.7 million) compared with product revenues of RMB4,922.4 million in the same quarter of 2023.
  • Service Revenues were RMB82.5 million (US$11.3 million) compared with service revenues of RMB71.0 million in the same quarter of 2023, primarily driven by the increase of customers subscribing to Dingdong's membership program.

Total operating costs and expenses were RMB5,848.0 million (US$801.2 million) compared with RMB5,029.8 million in the same quarter of 2023, with a detailed breakdown as below:

  • Cost of goods sold was RMB4,120.8 million (US$564.5 million), an increase of 18.8% from RMB3,467.8 million in the same quarter of 2023. Cost of goods sold as a percentage of revenues increased slightly to 69.8% from 69.4% in the same quarter of 2023.
  • Fulfillment expenses were RMB1,278.9 million (US$175.2 million), an increase of 9.1% from RMB1,171.7 million in the same quarter of 2023. Fulfillment expenses as a percentage of total revenues decreased to 21.7% from 23.5% in the same quarter of 2023. This was mainly due to the increased order volume boosted operational efficiency. In addition, we optimized the layout of the regional processing centers in the second half of 2023, which will continue to improve their operation efficiency this year.
  • Sales and marketing expenses were RMB137.5 million (US$18.8 million), an increase of 30.8% from RMB105.2  million in the same quarter of 2023. Sales and marketing expenses as a percentage of total revenues increased to 2.3% from 2.1% in the same quarter of 2023, mainly due to the increased spending on sales and marketing activities  and more sale and marketing staffs.
  • General and administrative expenses were RMB109.2 million (US$15.0 million), an increase of 16.4% from RMB93.9 million in the same quarter of 2023, mainly due to the increase of professional service fees.
  • Product development expenses were RMB201.6 million (US$27.6 million), a slightly increase of 5.4% from RMB191.2 million in the same quarter of 2023. 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, to further enhance our competitiveness.

Income from operations was RMB61.5 million (US$8.4 million), compared with operating loss of RMB21.9 million in the same quarter of 2023.

Non-GAAP income from operations, which is a non-GAAP measure for income from operations that excludes share-based compensation expenses, was RMB86.6 million (US$11.9 million), compared with non-GAAP loss from operations of RMB1.2 million in the same quarter of 2023.

Net income was RMB91.6 million (US$12.5 million), compared with net loss of RMB4.4 million in the same quarter of 2023. Net margin was 1.6% compared with negative 0.1% in the same quarter of 2023.

Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB116.7 million (US$16.0 million), increased by 617.9% year over year, compared with non-GAAP net income of RMB16.3 million in the same quarter of 2023. In addition, non-GAAP net income margin, which is the Company's non-GAAP net income as a percentage of total revenues, was 2.0% compared with 0.3% in the same quarter of 2023.

Basic and diluted net income per share was RMB0.27 (US$0.04) and RMB0.26 (US$0.04), respectively, compared with net loss per share of RMB0.02 and RMB0.02 in the same quarter of 2023. Non-GAAP net income per share, basic and diluted, was RMB0.35 (US$0.05) and RMB0.33 (US$0.05), respectively, compared with RMB0.04 and RMB0.04 in the same quarter of 2023.

Cash and cash equivalents, restricted cash and short-term investments were RMB4,452.2 million (US$609.9 million) as of December 31, 2024, compared with RMB5,309.7 million as of December 31, 2023. We have been working diligently to optimize our capital usage and financing structure. The total balance of cash and cash equivalents, restricted cash and short-term investments deducting the balance of short-term borrowings, is RMB2.85 billion, a net increase for the sixth consecutive quarter.

Guidance

The Company is looking to sustain year-over-year growth in scale and achieve non-GAAP profits in the first quarter of 2025.

Conference Call

The Company's management will hold an earnings conference call at 7:00 A.M. Eastern Time on Thursday, March 6, 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:


International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

4474666






The replay will be accessible through March 13, 2025 by dialing the following numbers:


International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

7865911






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 RMB7.2993 to US$1.00, the exchange rate on December 31, 2024 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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.

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of RMB and US$)




As of



December 31,
2023

December 31,

2024

December 31,

2024



RMB

RMB

US$






(Unaudited)

ASSETS









Current assets:









Cash and cash equivalents

1,209,225

887,427

121,577

Restricted cash

480

2,788

382

Short-term investments

4,099,977

3,561,977

487,989

Accounts receivable, net

107,879

125,896

17,248

Inventories, net

471,872

553,601

75,843

Advance to suppliers

73,732

62,730

8,594

Prepayments and other current assets

187,486

170,753

23,393

Total current assets

6,150,651

5,365,172

735,026











Non-current assets:









Property and equipment, net

189,084

176,290

24,152

Operating lease right-of-use assets

1,262,134

1,464,791

200,676

Other non-current assets

96,687

111,395

15,260

Total non-current assets

1,547,905

1,752,476

240,088











TOTAL ASSETS

7,698,556

7,117,648

975,114











LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY

Current liabilities:









Accounts payable

1,422,183

1,660,472

227,484

Customer advances and deferred revenue

240,280

279,276

38,261

Accrued expenses and other current
    liabilities

656,408

 

767,082

 

105,090

Salary and welfare payable

233,073

317,152

43,450

Operating lease liabilities, current

653,529

640,245

87,713

Short-term borrowings

3,300,214

1,606,253

220,056

Total current liabilities

6,505,687

5,270,480

722,054











Non-current liabilities:









Operating lease liabilities, non-current

568,039

780,036

106,864

Other non-current liabilities

126,206

143,118

19,607

Total non-current liabilities

694,245

923,154

126,471











TOTAL LIABILITIES

7,199,932

6,193,634

848,525

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands of RMB and US$)








As of



December 31,

2023

December 31,

2024

December 31,

2024



RMB

RMB

US$






(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS' EQUITY (CONTINUED)

Mezzanine Equity:









Redeemable noncontrolling interests

116,090

125,403

17,180











TOTAL MEZZANINE EQUITY

116,090

125,403

17,180











Shareholders' equity:









Ordinary shares

4

4

1

Additional paid-in capital

14,061,991

14,181,030

1,942,793

Treasury stock

(20,666)

(51,176)

(7,011)

Accumulated deficit

(13,679,964)

(13,384,881)

(1,833,721)

Accumulated other comprehensive loss

21,169

53,634

7,347











TOTAL SHAREHOLDERS' EQUITY

382,534

798,611

109,409











TOTAL LIABILITIES, MEZZANINE EQUITY
    AND SHAREHOLDERS' EQUITY

7,698,556

7,117,648

975,114











 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in thousands of RMB and US$, except for number of shares and per share data)








For the three months ended

December 31,



2023

2024

2024



RMB

RMB

US$



(Unaudited)

Revenues:









Product revenues

4,922,419

5,822,527

797,683

Service revenues

71,035

82,495

11,302






















Total revenues

4,993,454

5,905,022

808,985






















Operating costs and expenses:









Cost of goods sold

(3,467,818)

(4,120,793)

(564,546)

Fulfillment expenses

(1,171,734)

(1,278,904)

(175,209)

Sales and marketing expenses

(105,168)

(137,513)

(18,839)

Product development expenses

(191,218)

(201,632)

(27,623)

General and administrative expenses

(93,850)

(109,195)

(14,961)











Total operating costs and expenses

(5,029,788)

(5,848,037)

(801,178)






















Other operating income, net

14,452

4,534

621

(Loss) /income from operations

(21,882)

61,519

8,428

Interest income

42,292

37,879

5,189

Interest expenses

(21,241)

(6,852)

(939)

Other (expenses)/income, net

(724)

2,875

394











(Loss)/Income before income tax

(1,555)

95,421

13,072

Income tax expenses

(2,833)

(3,830)

(524)

Net (loss)/income

(4,388)

91,591

12,548

Accretion of redeemable noncontrolling interests

(2,230)

(2,409)

(330)

Net (loss) /income attributable to ordinary
    shareholders

(6,618)

89,182

12,218

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

 (CONTINUED)

(Amounts in thousands of RMB and US$, except for number of shares and per share data)















For the three months ended

December 31,



2023

2024

2024



RMB

RMB

US$



(Unaudited)

Net (loss) /income per Class A and Class B ordinary
   share:









Basic

(0.02)

0.27

0.04

Diluted

(0.02)

0.26

0.04

Shares used in net (loss) /income per Class A and
   Class B ordinary share computation:









Basic

324,976,237

324,500,919

324,500,919

Diluted

324,976,237

337,933,639

337,933,639

Other comprehensive income, net of tax of nil:









Foreign currency translation adjustments

(26,288)

55,517

7,606

Comprehensive (loss) /income

(30,676)

147,108

20,154

Accretion of redeemable noncontrolling interests

(2,231)

(2,409)

(330)

Comprehensive (loss) /income attributable to
    ordinary shareholders

(32,907)

144,699

19,824











 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)














For the three months ended

December 31,



2023

2024

2024



RMB

RMB

US$



(Unaudited)











Net cash generated from operating activities

119,835

190,878

26,150











Net cash generated/(used in) investing activities

186,761

(158,850)

(21,762)











Net cash used in financing activities



(393,781)

(49,678)

(6,806)

Effect of exchange rate changes on cash and cash
    equivalents and restricted cash

(818)

3,425

469

Net decrease in cash and cash equivalents and
     restricted cash



(88,003)

(14,225)

(1,949)











Cash and cash equivalents and restricted cash at the
      beginning of the period

 

1,297,708

 

904,440

 

123,908

Cash and cash equivalents and restricted cash at
      the end of the period



1,209,705

890,215

121,959











 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)




For the three months ended
December 31,



2023

2024

2024



RMB   

RMB   

US$  



(Unaudited)

(Loss) /income from operations

(21,882)

61,519

8,428

Add: share-based compensation expenses (1)

20,639

25,073

3,434











Non-GAAP (loss)/income from operations

(1,243)

86,592

11,862






















Operating margin

(0.4 %)

1.1 %

1.1 %

Add: share-based compensation expenses

0.4 %

0.4 %

0.4 %

Non-GAAP operating margin

0.0 %

1.5 %

1.5 %











Net (loss)/income

(4,388)

91,591

12,548

Add: share-based compensation expenses (1)

20,639

25,073

3,434











Non-GAAP net income

16,251

116,664

15,982






















Net (loss)/income margin

(0.1 %)

1.6 %

1.6 %

Add: share-based compensation expenses

0.4 %

0.4 %

0.4 %

Non-GAAP net income margin

0.3 %

2.0 %

2.0 %











Net (loss) /income attributable to ordinary shareholders

(6,618)

89,182

12,218











Add: share-based compensation expenses (1)

20,639

25,073

3,434











Non-GAAP net income attributable to ordinary
     shareholders

14,021

114,255

15,652











Net (loss) /income per Class A and Class B ordinary share:









Basic



(0.02)

0.27

0.04

Diluted

(0.02)

0.26

0.04

Add: share-based compensation expenses









Basic



0.06

0.08

0.01

Diluted

0.06

0.07

0.01

Non-GAAP net income per Class A and Class B
     ordinary share:




















Basic



0.04

0.35

0.05

Diluted

0.04

0.33

0.05


(1) Share-based compensation expenses are recognized as follows:





For the three months ended

December 31,



2023


2024

2024



 RMB    


RMB   

US$    



(Unaudited)












Fulfillment expenses

3,551


4,148

568

Sales and marketing expenses

(341)


1,520

208

Product development expenses

12,361


12,468

1,708

General and administrative expenses

5,068


6,937

950












Total

20,639


25,073

3,434












 

 

 

]]> Dingdong Announces US$20.0 Million Share Repurchase Program 2025-03-06 17:30:00 . 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, 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 on-demand e-commerce market inChina; 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; Dingdong's proposed use of proceeds; and relevant government policies and regulations relating to Dingdong's industry, and general economic and business conditions globally and inChina 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 Securities and Exchange Commission. 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. ]]> SHANGHAI, March 6, 2025 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), leading fresh grocery e-commerce company in China, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20.0 million of its shares over a period until March 5, 2026.

The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. After the publication of the annual results of the Company on or before March 31, 2025, the management may implement the share repurchase, including but not limited to implementing the share repurchase in accordance with plans under the Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. Given the confidence in the Company's sufficient cash reserves and cash flow, the Company expects to fund the repurchases out of its existing cash balance.

About Dingdong (Cayman) Limited

Dingdong (Cayman) Limited is 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.

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, 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 on-demand e-commerce 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; Dingdong's proposed use of proceeds; 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 Securities and Exchange Commission. 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.

]]> Dingdong to Report Fourth Quarter 2024 Financial Results on March 6, 2025 2025-03-03 18:00:00 . About Dingdong (Cayman) Limited Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping. For more information, please visit: https://ir.100.me . ]]> SHANGHAI, March 3, 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 that it will report its unaudited financial results for the fourth quarter ended December 31, 2024, before U.S. markets open on March 6, 2025.

The Company will hold an earnings conference call at 7:00 A.M. Eastern Time on Thursday, March 6, 2025 (8:00 P.M. Beijing Time on the same day) to discuss its financial results. Management's prepared remarks and the question-and-answer session will be conducted in English and Mandarin. Dial-in details for the earnings conference call are as follows:

International:

1-412-317-6061

United States Toll Free: 

1-888-317-6003

Mainland China Toll Free: 

4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

4474666

The replay will be accessible through March 13, 2025 by dialing the following numbers:

International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

7865911

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

Dingdong is the leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. The Company directly provides 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 its deep insights into consumers' evolving needs and its strong food innovation capabilities, Dingdong has successfully launched a series of private label products spanning a variety of food categories. Many of Dingdong's private label products are produced at its own production plants, allowing it to more efficiently produce and offer safe and high-quality food products. Dingdong aims to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

]]>