Dingdong Announces US$20.0 Million Share Repurchase Program

Core Viewpoint - Dingdong (Cayman) Limited has announced a share repurchase program authorizing the repurchase of up to US$20.0 million of its shares until January 28, 2025, reflecting the company's confidence in its financial position and cash flow [1][2]. Company Overview - Dingdong (Cayman) Limited is a leading fresh grocery e-commerce company in China, focusing on sustainable long-term growth by providing fresh produce, prepared food, and other food products through a convenient shopping experience [3]. - The company has developed private label products across various food categories, many of which are produced at its own production plants, ensuring the quality and safety of its offerings [3]. Share Repurchase Program Details - The share repurchase may occur on the open market at prevailing prices, through privately negotiated transactions, block trades, or other legally permissible means, depending on market conditions [2]. - The management plans to implement the repurchase program after the annual results are published on or before March 31, 2024, potentially utilizing Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934 [2]. - The board of directors will periodically review the program and may adjust its terms and size as necessary, with funding expected to come from existing cash reserves [2].