Financial Data and Key Metrics Changes - Dingdong reported a revenue of RMB 6.66 billion in Q3 2025, marking a 1.9% year-over-year growth, maintaining positive growth for seven consecutive quarters [20][22] - The Gross Merchandise Value (GMV) reached RMB 7.27 billion, up 0.1% compared to the previous year, indicating sustained growth momentum [20][22] - Non-GAAP net profit was RMB 0.1 billion with a profit margin of 1.5%, while GAAP net profit was RMB 0.08 billion with a margin of 1.2% [6][20] Business Line Data and Key Metrics Changes - The B2B business continued to grow steadily, with revenue expanding by 67.4% year-over-year, and its revenue share rose by 1.9 percentage points year-over-year [22][21] - The monthly order conversion rate increased by 1.6 percentage points year-over-year, and the number of monthly ordering users grew by 4.1% [8] Market Data and Key Metrics Changes - GMV in Jiangsu, Zhejiang, and Shanghai increased by 1.4% year-over-year, with Jiangsu and Zhejiang showing strong growth at 3.6% [9] - In the region, nine cities delivered growth of over 10%, with Wenzhou performing exceptionally well, exceeding 60% growth [9] Company Strategy and Development Direction - The company is implementing a "One Big One Small One World" strategy focusing on high-volume top-selling products and expanding into smaller cities [10][13] - The strategy emphasizes building a high-quality user base through differentiated products and experiences, rather than competing solely on price [36][37] - The company aims to enhance its supply chain capabilities by focusing on direct sourcing and in-house production, which is expected to create a sustainable competitive advantage [38][39] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the intensifying competition in the instant retail sector but expressed confidence in maintaining profitability and growth through their strategic framework [18] - The company believes that long-term investments in supply chain and product development will yield competitive advantages as the market stabilizes [39] Other Important Information - The fulfillment cost ratio was 21.5%, stable year-over-year, with a focus on service improvement leading to a 97% on-time delivery rate [26] - The company opened 40 new frontline fulfillment stations this year, including 17 in Q3, expanding into small city markets [15] Q&A Session Summary Question: How does Dingdong build a competitive landscape in the instant retail market? - Management highlighted the importance of differentiation through quality products and a focus on building a high-quality user base rather than competing on price [36][37] Question: Can you elaborate on the top-selling product strategy? - The CEO explained that the strategy focuses on creating products that resonate with users, leveraging digital technologies to enhance supply chain efficiency and reduce costs [43][44]

Dingdong (Cayman) Limited (NYSE:DDL) Q3 2025 Earnings Call November 12, 2025 07:00 AM ET Speaker3Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to the Dingdong Limited third quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. Please note that this event is being recorded. I will now turn the conference over to the first speaker today, Nicky Zheng, Director of Investor Relations. Please go ahead, sir.Speaker4Thank you. H ...

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