Dingdong (Cayman) Ltd Files February 2024 6-K

TL;DR

Dingdong (Cayman) Ltd filed its monthly 6-K, confirming it's a foreign private issuer reporting under Form 20-F.

AI Summary

Dingdong (Cayman) Limited filed a Form 6-K on March 1, 2024, for the month of February 2024. The filing indicates that the company is a foreign private issuer and will file its annual reports under Form 20-F. The company's principal executive offices are located in Shanghai, People's Republic of China.

Why It Matters

This filing is a routine report for foreign private issuers, providing an update on the company's status and reporting requirements to the SEC.

Risk Assessment

Risk Level: low — This is a standard periodic filing by a foreign private issuer and does not contain new financial or operational information that would typically indicate a change in risk.

Key Players & Entities

• Dingdong (Cayman) Limited (company) — Registrant
• 001-40533 (company) — SEC File Number
• 20240301 (date) — Filing Date
• February 2024 (date) — Reporting Period
• Shanghai, People's Republic of China (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $2.3 million — quarter of 2023 was RMB16.3 million (US$2.3 million), the fifth consecutive quarter of non-
• $703.3 million — tal revenues were RMB4,993.5 million (US$703.3 million) compared with total revenues of RMB6,2
• $693.3 million — uct Revenues were RMB4,922.4 million (US$693.3 million) compared with product revenues of RMB6
• $10.0 million — ervice Revenues were RMB71.0 million (US$10.0 million) compared with service revenues of RMB6
• $708.4 million — and expenses were RMB5,029.8 million (US$708.4 million), a decrease of 18.3% from RMB6,154.5 m
• $488.4 million — of goods sold was RMB3,467.8 million (US$488.4 million), a decrease of 16.7% from RMB4,162.0 m
• $166.1 million — ent expenses were RMB1,179.1 million (US$166.1 million), a decrease of 21.1% from RMB1,493.6 m
• $13.8 million — keting expenses were RMB97.8 million (US$13.8 million), an increase of 7.3% from RMB91.1 mill
• $13.2 million — rative expenses were RMB93.9 million (US$13.2 million), a decrease of 36.9% from RMB148.8 mil
• $26.9 million — pment expenses were RMB191.2 million (US$26.9 million), a decrease of 26.2% from RMB259.0 mil
• $3.1 million — from operations was RMB21.9 million (US$3.1 million), compared with operating income of RMB
• $0.6 million — 2022. Net loss was RMB4.4 million (US$0.6 million), compared with net income of RMB49.9 m
• $0.00 — uted net loss per share were RMB0.02 (US$0.00), compared with net income per share of
• $0.01 — hare, basic and diluted, was RMB0.04 (US$0.01), compared with RMB0.35 in the same qua
• $747.8 million — investments were RMB5,309.2 million (US$747.8 million) as of December 31, 2023, compared with

Filing Documents

• dingdong_2023q4_er.htm (6-K) — 741KB
• 0000950170-24-023547.txt ( ) — 742KB

From the Filing

6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2024 Commission File Number: 001-40533 Dingdong (Cayman) Limited Building 1, 56 Fanchang Road Shanghai, 201201 People’s Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x                   Form 40-F  ¨ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨ Exhibit Index Exhibit No. Description Exhibit 99.1 Dingdong (Cayman) Limited Announces Fourth Quarter 2023 Financial Results SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dingdong (Cayman) Limited By: /s/ Changlin Liang Name: Changlin Liang Title: Director and Chief Executive Officer Date: March 1, 2024 Exhibit 99.1 Dingdong (Cayman) Limited Announces Fourth Quarter 2023 Financial Results SHANGHAI, February 29, 2024 — 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 December 31, 2023. Fourth Quarter 2023 Highlights: Non-GAAP net income for the fourth quarter of 2023 was RMB16.3 million (US$2.3 million), the fifth consecutive quarter of non-GAAP profitability. GMV of Jiangsu and Zhejiang for the fourth quarter of 2023 increased by 3.6% despite the high base resulting from the pandemic in the same quarter of 2022. Our private label products exceeded 20% of total GMV for the first time in the fourth quarter, up 3.1 percentage points compared with the same quarter last year. Among them, the non-fresh private label products accounted for 34.3% of total non-fresh GMV, up 7.7 percentage points compared to the same quarter of 2022. Net cash provided by operating activities for the fourth quarter of 2023 was RMB119.8 million (US$ 16.9 million), demonstrating the resilience of our business after COVID-19. Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, “In the fourth quarter, we recorded non-GAAP basis net income of RMB16.3 million, with a net profit margin of 0.3% on a non-GAAP basis. More importantly, we achieved non-GAAP profitability for the fifth consecutive quarter and for the full year for the first time which I believe reflects the strength of our long-term development strategy of efficiency first, with due consideration of scale. We made significant progress at the operational level during 2023, despite the lingering effects of the pandemic and the operational adjustments we undertook. Going forward, we are confident that our GMV will regain growth momentum in 2024, and are confident that we will be able to maintain non-GAAP profitability once again. Even after factoring in the costs and expenses incurred by staying open during the Chinese New Year holiday, we expect to be profitable on a non-GAAP basis during the first quarter of 2024. Maintaining profitability in the current environment highlights the viability of our business model and provides us with additional resources to fuel our future development.” Mr. Song Wang, Chief Financial Officer of Dingdong, stated, “Our efforts to improve the financial performance of the company has paid off, and we are proud to have moved from a non-GAAP annual loss margin of 30.4% in 2021 to a non-GAAP annual profit margin of 0.2% in 2023. It has taken us two years of hard work to reach this point, but we are pleased with the progress we have made and eagerly look forward to building upon this milestone. Additionally, we once again achieved net operating cash inflow in this quarter. At the end of 2023, our cash and cash equivalent, restricted cash and short-term investment after deducting the balance of short-term borrowings was 2.01 billion RMB, a net increase for the second consecutive quarter. For 2024, our primary focus will be to maintain our high-quality services and deliver products that offer the best cost-effectiveness and quality ratio to our valued customers. Furthermore, we will take advantage of our comprehensive supply chain and system capabilities to improve our operational efficiency and drive profitabili

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