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Dingdong (Cayman) Limited Reports Strong Financial Results for Q3 2026

On November 12, 2026, Dingdong (Cayman) Limited, a prominent player in China's fresh grocery e-commerce market, shared its financial results for the third quarter ending September 30, 2026. The company has shown remarkable growth in various key performance indicators, reinforcing its position in a competitive industry.

Financial Highlights

The highlights for Q3 2026 include:

• - The gross merchandise volume (GMV) for the quarter reached RMB 8,311.1 million (approximately 1,239.6 million USD), marking a substantial year-over-year increase of 14.3% compared to RMB 7,273.2 million in Q3 2025. This achievement signifies 11 consecutive quarters of positive GMV growth.
• - Dingdong reported a net income of RMB 298.1 million (around 44.5 million USD), representing a 259.6% leap from RMB 82.9 million in the same quarter last year. This is the 11th straight quarter of profitability for the company.
• - The company's service outcomes also demonstrated strength; its non-GAAP net income amounted to RMB 307.6 million (approximately 45.9 million USD), a 203.8% increase from the previous year's results.

CEO Mr. Song Wang expressed satisfaction with the results, emphasizing the strategic transformation journey of Dingdong from a mere on-demand grocery service to a modern retailer. He pointed out the significant growth in GMV, highlighting that the Eastern China region achieved an impressive 17.6% growth.

Strategic Focus and Growth Initiatives

Dingdong continues to evolve as it concentrates on enhancing its product offerings and fulfilling operational efficiency. The company has been focusing its expansion strategies primarily in Eastern China, where it aims to optimize its fulfillment networks further. The introduction of Dingdong V5, their private label product line, has been elevated to a strategic priority for the company to enhance product differentiation and development.

Furthermore, the company reported a net cash inflow from operating activities of RMB 351 million for the quarter, which includes RMB 384 million from operations within China. This reflects the improved cash flow performance and showcases the company’s operating quality.

Despite the positive revenue trajectory, Dingdong faces challenges, particularly in pricing pressures on key products such as pork, coupled with the strategic divestment of its China business to Meituan pending regulatory approval. The company aims to successfully navigate these challenges without compromising its growth trajectory.

Operating Performance

Dingdong reported total revenues of RMB 7,380.4 million (approximately 1,100.8 million USD), a 10.8% increase from RMB 6,662.4 million in the same quarter of the previous year. This growth was driven partly by a rise in customer orders and increased transaction frequency as a result of a growing user base. The implementation of a robust fulfillment strategy, including the opening of new frontline stations in Huai'an, Hefei, and Suqian, allowed Dingdong to maintain competitive service levels despite market challenges.

The company's operating expenses totaled RMB 7,093.5 million (around 1,058.0 million USD). Notably, Dingdong refrained from recording depreciation or amortization for its held-for-sale China business. This accounting decision contributed to a significant increase in net income for the quarter by approximately RMB 195.7 million (around 29.2 million USD).

Conclusion and Outlook

In light of its strong performance metrics, Dingdong (Cayman) Limited is poised for continued success in the fiercely competitive fresh grocery e-commerce landscape. The company remains committed to leveraging its strengths in the supply chain, product differentiation, and operational efficiency to ensure long-term sustainable growth. Investors and stakeholders will be keenly watching Dingdong’s next moves as it navigates its strategic divestiture while continuing to thrive in its ongoing operations.