Financial Data and Key Metrics Changes - The company achieved non-GAAP profitability for the eighth consecutive quarter and GAAP profitability for the third consecutive quarter [5] - GMV reached RMB7.27 billion, a 28.3% year-over-year increase, while revenue was RMB6.54 billion, up 27.2% year-over-year [7][19] - Non-GAAP net profit was RMB160 million, an increase of over nine times from the same period last year, with a non-GAAP net profit margin of 2.5%, up 2.2 percentage points year-over-year [8][18] - GAAP net profit was RMB133 million, a more than 62 times increase year-over-year, with a GAAP net profit margin of 2%, up 2 percentage points year-over-year [8][18] - Operating net cash inflow in Q3 reached RMB400 million, an increase of RMB270 million compared to the same period last year [18] Business Line Data and Key Metrics Changes - The average number of active transacting users reached approximately 8.22 million, a 24.5% year-over-year increase [8] - Average monthly ARPU increased by 6.4%, with member ARPU rising 8.8% year-over-year to RMB540 [8] - Users placed an average of 4.4 orders per month, reflecting a year-over-year increase of 6.1% [9] Market Data and Key Metrics Changes - Jiangsu, Zhejiang, and Shanghai were identified as primary growth drivers, with Shanghai's GMV increasing by 24.5% year-over-year, while Jiangsu and Zhejiang saw approximately 40% growth each [10] - GMV across 13 cities in Jiangsu, Zhejiang, and Shanghai increased over 50% year-over-year during the quarter [13] Company Strategy and Development Direction - The company plans to open approximately 110 new fulfillment stations in 2024 to enhance presence in key areas and improve fulfillment efficiency [12] - The focus remains on expanding high-quality product offerings, particularly in strategic categories such as fresh seafood and beverages [15][16] - The company aims to make quality fresh groceries as accessible as tap water for everyone [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the rapid development potential of the business for the remainder of the year and beyond, increasing full-year targets based on current performance [16] - The company emphasized the importance of continuous progress and adapting to an ever-changing market [32] Other Important Information - The gross profit margin was 29.8%, a 0.6 percentage point decrease year-over-year due to operational strategies [20] - Inventory turnover days improved to 10.7 days, 1.3 days less than the same period last year [21] - The balance of cash and cash equivalents reached RMB4.3 billion, with free cash flow over the past 12 months increasing to RMB780 million [25][44] Q&A Session Summary Question: How was the company's success achieved in Q3? - The success was attributed to operational improvements, including the opening of 80 new fulfillment stations and enhancements in product structure and delivery efficiency [28][30] Question: Can you introduce the supply chain development of Dingdong's self-developed factory this year? - The company has focused on product quality and has developed 12 self-operated factories, with significant growth in external sales revenue from major product categories [36][41] Question: Can you provide a more detailed introduction to the company's cash situation? - The company highlighted improvements in operating cash flow, inventory management, and a decrease in interest-bearing debt, resulting in a strong cash position [42][44][46]

Financial Performance - Dingdong reported third quarter 2024 revenue of RMB6.54 billion (US$931.7 million), a year-over-year increase of 27.2%[9] - Gross Merchandise Volume (GMV) for the third quarter of 2024 reached RMB7.27 billion (US$1.04 billion), up 28.3% year-over-year[10] - Non-GAAP net income for the third quarter of 2024 was RMB162 million (US$23 million), a 942% increase compared to RMB15.5 million in the same quarter of 2023[15] - GAAP net income for the third quarter of 2024 was RMB133 million (US$19 million), a significant increase of 6,240.6% from RMB2.1 million in the same quarter of 2023[14] - Total revenues for the three months ended September 30, 2024, increased to RMB 6,538,235, representing a growth of 27.2% compared to RMB 5,139,681 in the same period of 2023[38] - Product revenues rose to RMB 6,458,447, up 27.1% from RMB 5,082,513 year-over-year[38] - Net income for the three months ended September 30, 2024, was RMB 133,406, compared to a net income of RMB 2,104 in the same period of 2023, marking a significant increase[40] - The company reported a non-GAAP income from operations of RMB 138,759 for the three months ended September 30, 2024, compared to RMB 4,778 in the same period of 2023[42] - Basic and diluted net income per share for the three months ended September 30, 2024, was RMB 0.40, compared to RMB (0.00) in the same period of 2023[40] Operating Cash Flow - Operating net cash inflow for the third quarter of 2024 was RMB400 million (US$56.7 million), marking the fifth consecutive quarter of net cash inflow from operating activities[8] - The company generated RMB 397,639 in net cash from operating activities for the three months ended September 30, 2024, compared to RMB 130,111 in the same period of 2023[41] Revenue Breakdown - Product revenues for the third quarter of 2024 were RMB6.46 billion (US$920.3 million), compared to RMB5.08 billion in the same quarter of 2023[11] - Service revenues increased to RMB79.8 million (US$11.4 million) from RMB57.2 million in the same quarter of 2023, driven by growth in the membership program[11] Costs and Expenses - Total operating costs and expenses were RMB6.44 billion (US$917.5 million), up from RMB5.16 billion in the same quarter of 2023[12] - Total fulfillment expenses amounted to $5.33 billion, with sales and marketing expenses at $3.32 billion[44] - Product development expenses reached $6.88 billion, indicating a significant investment in innovation[44] - General and administrative expenses totaled $1.34 billion, reflecting operational costs[44] Balance Sheet - Cash and cash equivalents at the end of the period were RMB 904,442, down from RMB 1,297,708 at the end of September 2023[41] - Total assets as of September 30, 2024, were RMB 6,873,186, a decrease from RMB 7,698,556 as of December 31, 2023[33] - Total liabilities decreased to RMB 6,121,899 as of September 30, 2024, from RMB 7,199,932 as of December 31, 2023[35] Profitability Metrics - The operating margin improved to 1.6% for the three months ended September 30, 2024, compared to a negative margin of 0.2% in the same period of 2023[42] Future Outlook - The company expects significant year-over-year growth in both non-GAAP and GAAP net profit for the fourth quarter and the full year of 2024[20] Investment Strategy - The company is committed to investing in product development, agricultural technology, and data algorithms to enhance competitiveness[19]

掘金优质中概系列：叮咚买菜（DDL）24Q3 业绩点评 重点公司盈利预测、估值与评级 经营数据环比向上，盈利能力再创新高 2024 年 11 月 07 日 ➢ 事件：11 月 6 日，叮咚买菜发布 2024 年三季报，Q3 实现 GMV 72.67 亿 元，yoy+28.3%；实现收入 65.38 亿元，yoy+27.2%；Non-GAAP 净利润达 1.62 亿元，yoy+942%，Non-GAAP 净利率 2.5%，yoy+2.2pct。GAAP 净利 润达 1.33 亿元，上年同期为 210 万元，GAAP 净利率 2.0%，yoy+2pct。经营 活动现金流入 3.98 亿元，期末现金及现金等价物，受限制现金及短期投资 42.97 亿元。 ➢ 所有区域 GMV 均正增长，新仓爬坡良好，上调全年开仓预期。截至 Q3 新 开仓已达 80 个（单 Q3 新开 40 个左右），仓网扩张叠加老仓爬坡带动 GMV Q3 整体增长 28.3%，分区域看 Q3 上海/江苏及浙江 GMV 分别同比增长 24.5%/40%，北京及广深在年初关仓影响下，依然分别实现 14.6%及 2.9%的增 长，全国有 14 个城市实现 ...

SHANGHAI, Nov. 6, 2024 /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, 2024.Third Quarter 2024 Highlights: GMV for the third quarter of 2024 increased by 28.3% year over year to RMB7,267.0 million (US$1,035.5 million) from RMB5,665.4 million in the same quarter of 2023. All regions experienced p ...

SHANGHAI, Nov. 1, 2024 /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, 2024, before U.S. markets open on November 6, 2024.The Company will hold an earnings conference call at 7:00 A.M. Eastern Time on Wednesday, November 6, 2024 (8:00 P.M. Beijing Time on the same day) t ...

掘金优质中概系列：叮咚买菜（NYSE:DDL）深度报告 垂类龙头，聚焦战略和格局改善共促利润 2024 年 08 月 16 日 ➢ 叮咚买菜布局"总仓+前置仓"模式，深耕生鲜即时零售。2017 年叮咚在 上海创立，2017-2019 年侧重于本地拓展，2020 年-2021H1 提高开新城速 度，21Q3 起确定"效率优先，兼顾规模"战略，重新聚焦更为核心的江浙沪区 域，截至 2023 年前置仓数量约为 1000 个。战略调整以来，叮咚经营质量持续 提升，22Q4-24Q2 已实现连续 7 个季度 Non-GAAP 口径盈利，24Q1&Q2 进 一步实现 GAPP 口径盈利，2024 上半年新增近 40 个前置仓，GMV 重回正增 长，预计全年开出约 80 个新仓。 ➢ 生鲜电商运营模式多元，前置仓模式即时性强，叮咚更加垂直。2016- 2022 年中国生鲜电商市场高速成长，CAGR 达 34.2%，2022 年市场规模达 3638 亿元，市场空间广阔。生鲜电商运营模式多样，前置仓模式配送即时性 强，用户体验好。对比前置仓&店仓一体赛道其他企业，叮咚持续打磨小仓模 型，单仓 SKU 结构较精简，生鲜品类占比更 ...

Investment Rating - The investment rating for the company is "Buy" [2][10]. Core Insights - The company's performance is in line with expectations, benefiting from an improved competitive landscape and enhanced profitability, particularly in the core Jiangsu and Zhejiang markets, where expansion based on profitability has resumed [5]. - In Q2 2024, the company achieved revenue of 5.599 billion RMB, representing a year-on-year increase of 15.67%, and an adjusted net profit of 105 million RMB, compared to 5.41 million RMB in Q2 2023. The GMV for Q2 2024 was 6.219 billion RMB, up 16.79% [5]. - The company has restarted regional expansion, opening 25 new warehouses in Q2 2024, with a total of 40 opened in the first half of 2024, indicating a positive trend in growth and scale effects [5]. Financial Summary - Revenue for the company has shown significant growth over the years, with a forecasted revenue of 22.29 billion RMB for 2024, up from 19.97 billion RMB in 2023, marking an increase of 11.62% [6]. - The adjusted net profit is expected to improve to 340.95 million RMB in 2024, compared to 36.73 million RMB in 2023, indicating a recovery in profitability [6]. - The gross profit margin has slightly decreased by 1 percentage point year-on-year, while the marketing expense ratio has increased by 0.48 percentage points, reflecting the company's strategy to support expansion through user incentives and marketing investments [5].

Investment Rating - The report assigns an "Accumulate" rating for the company Dingdong Maicai (DDL.N) [2][10]. Core Insights - The company's performance is in line with expectations, benefiting from an improved competitive landscape and enhanced profitability, particularly in the core Jiangsu and Zhejiang markets, leading to a resumption of expansion based on profitability [5]. - Dingdong Maicai reported a revenue of 5.599 billion RMB, representing a year-on-year increase of 15.67%, and an adjusted net profit of 105 million RMB for Q2 2024, compared to 5.41 million RMB in Q2 2023 [5]. - The company's Gross Merchandise Volume (GMV) for Q2 2024 reached 6.219 billion RMB, marking a 16.79% increase [5]. Summary by Sections Financial Performance - Revenue for 2024E is projected at 22.292 billion RMB, with a growth rate of 11.62% compared to the previous year [6]. - The adjusted net profit is expected to improve significantly, reaching 340.95 million RMB in 2024E, with a net profit margin of 1.53% [6]. Market Dynamics - The company has restarted its expansion in the Jiangsu and Zhejiang regions, opening 25 new warehouses in Q2 2024 and a total of 40 in the first half of 2024, with expectations for further increases in the number of new warehouses throughout the year [5]. - The growth in revenue and GMV is driven by the expansion in the Jiangsu and Zhejiang regions, increased average revenue per user (ARPU) in Shanghai, and growth in leisure product categories [5]. Strategic Focus - Dingdong Maicai is focusing on achieving profitable growth while enhancing user engagement and marketing investments, which may temporarily impact gross and profit margins but is seen as beneficial for long-term shareholder returns [5].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2024 Commission File Number: 001-40533 Dingdong (Cayman) Limited Building 1, 56 Fanchang Road Shanghai, 201201 People's Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. For ...

Dingdong (Cayman) Limited (NYSE:DDL) Q2 2024 Earnings Conference Call August 7, 2024 8:00 AM ET Company Participants Nicky Zheng – Director-Investor Relations Changlin Liang – Founder and Chief Executive Officer Song Wang – Chief Financial Officer Conference Call Participants Thomas Chong – Jefferies Robin Leung – Daiwa Yang Bai – CICC Operator Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to the Dingdong Limited Second Quarter 2024 Earnings Conference Call. At t ...