Dingdong Cayman Limited (DDL)

Dingdong (Cayman) Limited Announces First Quarter 2026 Financial ResultsMay 21, 2026 7:30 AM
PR Newswire (US) 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 ResultsTotal 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 businessare 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) LIMITEDUNAUDITED 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) LIMITEDUNAUDITED 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 endedMarch 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) LIMITEDUNAUDITED 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 endedMarch 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 endedMarch 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 endedMarch 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











  View original content:https://www.prnewswire.com/news-releases/dingdong-cayman-limited-announces-first-quarter-2026-financial-results-302778858.htmlSOURCE Dingdong (Cayman) Limited Original: Dingdong (Cayman) Limited Announces First Quarter 2026 Financial Results

Dingdong to Report First Quarter 2026 Financial Results on May 21, 2026May 20, 2026 3:00 AM
PR Newswire (US) 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. View original content:https://www.prnewswire.com/news-releases/dingdong-to-report-first-quarter-2026-financial-results-on-may-21-2026-302777244.htmlSOURCE Dingdong (Cayman) Limited Original: Dingdong to Report First Quarter 2026 Financial Results on May 21, 2026

Dingdong Files Its Annual Report on Form 20-FApril 24, 2026 7:30 AM
PR Newswire (US)

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.



View original content:https://www.prnewswire.com/news-releases/dingdong-files-its-annual-report-on-form-20-f-302752833.htmlSOURCE Dingdong (Cayman) Limited

Original: Dingdong Files Its Annual Report on Form 20-F

Dingdong (Cayman) Limited Announces Results of 2026 Annual General MeetingMarch 27, 2026 9:00 AM
PR Newswire (US)

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) LimitedWe 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.  



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Original: Dingdong (Cayman) Limited Announces Results of 2026 Annual General Meeting

Dingdong Announces Change in CEOMarch 4, 2026 6:00 AM
PR Newswire (US)

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 StatementsThis 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.



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Original: Dingdong Announces Change in CEO

Dingdong (Cayman) Limited Announces Fourth Quarter 2025 Financial ResultsMarch 4, 2026 6:00 AM
PR Newswire (US)

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 MeituanOn 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 endedDecember 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 endedDecember 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 endedDecember 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 endedDecember 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











   



View original content:https://www.prnewswire.com/news-releases/dingdong-cayman-limited-announces-fourth-quarter-2025-financial-results-302703571.htmlSOURCE Dingdong (Cayman) Limited

Original: Dingdong (Cayman) Limited Announces Fourth Quarter 2025 Financial Results

Dingdong to Report Fourth Quarter 2025 Financial Results on March 4, 2026March 2, 2026 6:00 AM
PR Newswire (US)

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.



View original content:https://www.prnewswire.com/news-releases/dingdong-to-report-fourth-quarter-2025-financial-results-on-march-4-2026-302700856.htmlSOURCE Dingdong (Cayman) Limited

Original: Dingdong to Report Fourth Quarter 2025 Financial Results on March 4, 2026

Record Date for 2026 Annual General Meeting of ShareholdersFebruary 25, 2026 11:30 PM
PR Newswire (US)

SHANGHAI, Feb. 25, 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) LimitedDingdong (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 StatementThis 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.



View original content:https://www.prnewswire.com/news-releases/record-date-for-2026-annual-general-meeting-of-shareholders-302697839.htmlSOURCE Dingdong (Cayman) Limited

Original: Record Date for 2026 Annual General Meeting of Shareholders

Dingdong Announces Entry into Definitive Agreement to Sell its China Business to MeituanFebruary 5, 2026 4:08 AM
PR Newswire (US)

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 CommentsMr. 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 AgreementThe 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 ConditionsClosing 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) LimitedDingdong (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 StatementThis 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.



View original content:https://www.prnewswire.com/news-releases/dingdong-announces-entry-into-definitive-agreement-to-sell-its-china-business-to-meituan-302679979.htmlSOURCE Dingdong (Cayman) Limited

Original: Dingdong Announces Entry into Definitive Agreement to Sell its China Business to Meituan

$DDL: Now almost $3 !!!!!!!!!!!!

Told ya...............................

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176680046


GO $DDL

$DDL: $3Billy in Annual sales...... MCAP only $300Milly

This is undervalued by a multiple of................ 10x !!!!!!!

Share price should be at $25 given where chiners are moving these days


GO $DDL

$DDL: Another CHINER Cayman........... with SALES

Now at $2.20 !


GO $DDL

*****************************************************************************************

Dingdong (Cayman) Limited Announces Second Quarter 2025 Financial Results
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



















SOURCE Dingdong (Cayman) Limited

For further information: For investor inquiries, please contact: Dingdong Fresh, ir@100.me

Financials should be coming soon and chart looks ready to break through recent highs. I am very excited to see these drop. 

DDL new 52 week low

5.56 was todays low

Maybe 10 bucks today?

ring the ding dong

$DDL

It’s running

$7 DOngDIng

$6 DingDong

Message in reply to:

$DDL: IPO'ed yesterday at $27



Now $45 !!!!!!!!!



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$DDL: IPO'ed yesterday at $27



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