Dingdong(DDL) - 2024 Q4 - Annual Report

Financial Performance - In Q4 2024, Dingdong achieved revenue of RMB 5.91 billion, an increase of 18.3% year-over-year[10] - Gross Merchandise Volume (GMV) for Q4 2024 was RMB 6.55 billion, reflecting an 18.4% year-over-year growth[12] - Non-GAAP net income for Q4 2024 surged by 617.9% year-over-year to RMB 116.7 million, marking the ninth consecutive quarter of non-GAAP profitability[12] - GAAP net income for Q4 2024 was RMB 91.6 million, compared to a net loss of RMB 4.4 million in the same quarter of 2023[12] - Total revenues for the three months ended December 31, 2024, increased to RMB 5,905,022, representing a growth of 18.2% compared to RMB 4,993,454 in the same period of 2023[38] - Product revenues rose to RMB 5,822,527, up 18.3% from RMB 4,922,419 year-over-year[38] - Net income attributable to ordinary shareholders for the three months ended December 31, 2024, was RMB 89,182, compared to a net loss of RMB 6,618 in the same period of 2023[40] - Operating margin improved to 1.1% for the three months ended December 31, 2024, compared to a negative margin of 0.4% in the same period of 2023[44] - Non-GAAP net income for the three months ended December 31, 2024, was RMB 116,664, significantly up from RMB 16,251 in the same period of 2023[44] - Basic net income per share for the three months ended December 31, 2024, was RMB 0.27, compared to a loss of RMB 0.02 in the same period of 2023[40] Cash Flow and Assets - Operating net cash inflow for Q4 2024 was RMB 190.9 million, resulting in positive net inflow for six consecutive quarters[10] - Cash and cash equivalents at the end of the period were RMB 890,215, a decrease from RMB 1,209,705 at the beginning of the period[43] - The company reported a net cash generated from operating activities of RMB 190,878 for the three months ended December 31, 2024, compared to RMB 119,835 in the same period of 2023[43] Liabilities and Assets - Total assets as of December 31, 2024, were RMB 7,117,648, down from RMB 7,698,556 as of December 31, 2023[36] - Total liabilities decreased to RMB 6,193,634 as of December 31, 2024, from RMB 7,199,932 as of December 31, 2023[34] Revenue Breakdown - Product revenues reached RMB 5.82 billion, up from RMB 4.92 billion in Q4 2023[13] - Service revenues increased to RMB 82.5 million, driven by growth in the membership program[13] Future Outlook - The company aims to sustain year-over-year growth and achieve non-GAAP profits in Q1 2025[21] - Dingdong is committed to enhancing product development capabilities and investing in agricultural technology and data algorithms[20]