For those looking to find strong Retail-Wholesale stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Dingdong (Cayman) Limited Sponsored ADR (DDL) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.Dingdong (Cayman) Limited Sponsored ADR is a member of the Retail-Wholesale sector. This group includes 212 individual stocks and currentl ...

股 票研究 海外公司一 一美国 券研究报告 国泰君安证券 GUOTAIJUNANSECURITIES 批零贸易业 叮咚买菜（DDL.N） 格局优化，重回增长 评级： 当前价格（美元）： 增持 1.82 2024.05.14 叮咚买菜24Q1业绩点评 刘越男(分析师) 于清泰(分析师) 021-38677706 021-38022689 网 liuyuenan@gtjas.com yuqingtai@gtjas.com 证书编号 S0880516030003 S0880519100001 交易数据 52周内股价区间（美元） 1.07-3.54 当前股本（百万股） 354 当前市值（百万美元） 430 本报告导读： 受益格局改善及需求回暖，持续盈利，核心上海周边市场已经重启扩张。 摘要： 业绩符合预期，增持。公司聚焦核心市场和盈利提升，现金流大幅改 善。并通过自身效率提升和区域密度经济，持续实现经调整口径连续 6个季度盈利。互联网平台部分细分赛道已经进入格局改善，龙头受 益竞争趋缓的阶段，利润率有望明显回暖。 业绩简述：公司2024Q1实现营业收入50.24亿/+0.53%，GAAP归母 净亏损662万，经调整归 ...

Dingdong (Cayman) Limited (NYSE:DDL) Q1 2024 Earnings Conference Call May 12, 2024 8:00 AM ET Company Participants Changlin Liang - Founder, Chief Executive Officer Song Wang - Chief Financial Officer Nicky Zheng - Director of Investor Relations Conference Call Participants Thomas Chong - Jeffries Robin Leung - Daiwa Xinyi (Jean) Chen - CIBC Operator Good morning and good evening, ladies and gentlemen. Thank you for standing by. Welcome to the Dingdong Limited First Quarter 2024 Earnings Conference Call. ...

Dingdong (Cayman) Limited 2024Q1 Results May 2024 DISCLAIMER The following presentation has been prepared by Dingdong (Cayman) Limited (“Dingdong” or the “Company”) solely for informational purposes and should not be construed to be, directly or indirectly, in whole or in part, an offer to buy or sell and/or an invitation and/or a recommendation and/or a solicitation of an offer to buy or sell any security or instrument or to participate in any investment or trading strategy, nor shall any part of it form t ...

SHANGHAI, May 13, 2024 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended March 31, 2024. First Quarter 2024 Highlights:  GMV for the first quarter of 2024 increased by 1.4% year over year to RMB5,525.1 million (US$765.2 million) from RMB5,451.2 million in the same quarter of 2023, while our same-store GMV grew ...

SHANGHAI, April 19, 2024 /PRNewswire/ -- Dingdong (Cayman) Limited ("Dingdong" or the "Company") (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced that it filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission on April 19, 2024. 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 cop ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

持续降本增效，全年如期盈利 ——2023 年四季报点评 叮咚买菜（DDL.N）/零售 证券研究报告/公司点评 2024 年3月 11日 [Table_Industry] [评Ta级ble：_T增itle持] （维持） [公Ta司ble盈_F利in预anc测e1及] 估值 市场价格：1.40美元 指标 2022A 2023A 2024E 2025E 2026E 营业收入（百万元） 24221 19971 20617 21371 22153 分析师：苏畅 增长率 yoy% 20% -18% 3% 4% 4% 执业证书编号：S0740523110001 净利润（百万元） -807 -91 2 79 118 电话：021-20315125 增长率 yoy% 91% 108% 235% 50% 17% 每股收益（元） -1.45 0.11 0.47 0.71 0.82 Email：suchang@zts.com.cn 净资产收益率 -260% -24% 1% 17% 20% 分析师：王旭晖 P/E -3 -26 1197 30 20 执业证书编号：S0740523110003 P/S 0.12 0.10 0.10 0. ...

Investment Rating - The report assigns a "Buy" rating to the company, indicating an expected price increase of over 15% in the next 6-12 months [3][11]. Core Insights - The company reported a revenue of 4.993 billion RMB in Q4 2023, a year-on-year decrease of 19.47%, with a Non-GAAP net profit of 16.25 million RMB, resulting in a Non-GAAP net profit margin of 0.33% [1]. - For the full year 2023, the company achieved a revenue of 19.971 billion RMB, down 17.55% year-on-year, but recorded its first annual Non-GAAP net profit of 45.37 million RMB, with a margin of 0.23% [1]. - The company's GMV for 2023 reached 21.97 billion RMB, with an average order value (AOV) growth of 23% to 72.1 RMB compared to 2021 [2]. - The service revenue returned to growth in Q4 2023, amounting to 7.1 million RMB, primarily driven by membership fees [2]. - The penetration rate of private label products increased to 21.1% in Q4 2023, with a user penetration rate of 73.6% [2]. - The company demonstrated improved operational efficiency, with a fulfillment cost ratio of 23.6%, a decrease of 0.5 percentage points year-on-year [2]. Financial Projections - The projected Non-GAAP net profits for 2024, 2025, and 2026 are 118 million RMB, 247 million RMB, and 353 million RMB, respectively, with corresponding P/E ratios of 16.42x, 7.81x, and 5.47x [3][5].

Financial Data and Key Metrics Changes - In Q4 2023, the company generated revenue of RMB 4.99 billion, with a gross merchandise volume (GMV) of RMB 5.53 billion, marking a 19.5% year-over-year decline in revenue [5][18] - The gross profit margin increased to 30.6% sequentially, while the non-GAAP net profit margin was 0.3% for Q4 and 0.2% for the full year [5][16] - The company achieved non-GAAP profitability for the fifth consecutive quarter and marked its first full year of non-GAAP profitability in 2023 [5][14] Business Line Data and Key Metrics Changes - Private label products accounted for 21.1% of total GMV in Q4, a year-over-year increase of 3.1 percentage points [8] - The average order value (AOV) remained stable at RMB 72.1 in Q4, which is 23% higher than the same period in 2021 [7][8] - The average monthly order frequency increased from 3.7 orders in 2021 to four orders in 2023 [8] Market Data and Key Metrics Changes - GMV in the core East China market grew at a CAGR of 10% from 2021, with a same-store growth of 13.5% [8] - In Q4, regions like Jiangsu and Zhejiang provinces saw GMV and order volume growth of over 8% year-over-year [18] Company Strategy and Development Direction - The company aims to strengthen its presence in key markets, particularly Jiangsu, Zhejiang, and Shanghai, while expanding into new categories beyond traditional dining scenarios [33] - The focus will be on enhancing supply chain efficiency and increasing the proportion of private label products in non-fresh grocery categories [33][34] - The company plans to invest more resources in marketing and operational improvements to drive efficiency and sustainability [21][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in regaining GMV growth momentum in 2024 and maintaining non-GAAP profitability [15] - The company highlighted the importance of adapting to changing consumer preferences and the current economic environment [32][35] - Management emphasized the need for certainty in consumer expectations and the company's commitment to refining core competencies [35] Other Important Information - The company achieved a net operating cash inflow of RMB 120 million in Q4, with a total cash and cash equivalents balance of RMB 5.31 billion at the end of the quarter [17][22] - The company plans to repurchase up to $20 million of its shares by January 2025, citing the stock's undervaluation and strong financial position [26][28] Q&A Session Summary Question: Can you provide more details on the share repurchase plan? - Management confirmed a stock repurchase plan of up to $20 million, emphasizing the stock's undervaluation and the company's strong cash reserves [26][27] Question: Can you summarize the year and any changes in strategies? - Management reflected on the challenges faced during the pandemic and highlighted the company's shift to a strategy prioritizing efficiency, resulting in five consecutive quarters of non-GAAP profitability [30][31]