Core Insights - Dingdong Maicai reported a record high revenue of 6.66 billion yuan and GMV of 7.27 billion yuan for Q3 2025, marking the seventh consecutive quarter of year-on-year growth in scale [1] - The company achieved a net profit of 100 million yuan under Non-GAAP standards, with a net profit margin of 1.5%, and a net profit of 80 million yuan under GAAP standards, with a net profit margin of 1.2% [1] - The implementation of the "4G" strategy and adjustments to the "Good Products" system have led to increased order conversion rates and user stickiness, contributing to the robust growth in performance [1] Financial Performance - Revenue for Q3 2025 reached 6.66 billion yuan, while GMV was 7.27 billion yuan, both representing historical quarterly highs [1] - Non-GAAP net profit was 100 million yuan, with a net profit margin of 1.5%, while GAAP net profit was 80 million yuan, with a net profit margin of 1.2% [1] User Engagement - The proportion of SKUs meeting the "Good Products" standard increased to 37.2% in September, contributing 44.7% to overall GMV [1] - Monthly order conversion rate improved by 1.6 percentage points year-on-year, with a 4.1% increase in monthly active ordering users [1] - The average monthly order frequency reached a historical high of 4.6 times, up 4.9% year-on-year, with member users averaging 7.7 times [1] Market Expansion - Dingdong Maicai has opened a total of 40 new front warehouses by the end of Q3, with 17 of these opened in the current quarter [1]