Dingdong (Cayman) Limited (NYSE:DDL) Q1 2024 Earnings Conference Call May 12, 2024 8:00 AM ET

Company Participants

Changlin Liang - Founder, Chief Executive Officer
Song Wang - Chief Financial Officer
Nicky Zheng - Director of Investor Relations

Conference Call Participants

Thomas Chong - Jeffries
Robin Leung - Daiwa
Xinyi (Jean) Chen - CIBC

Operator

Good morning and good evening, ladies and gentlemen. Thank you for standing by. Welcome to the Dingdong Limited First Quarter 2024 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.

Nicky Zheng

Thank you. Hello, everyone, and welcome to Dingdong's first quarter 2024 earnings call. With me today are Mr. Changlin Liang, our Founder and CEO; and Mr. Song Wang, our CFO. You can refer to our first quarter 2024 financial results on our IR website at ir.100.me. You can also access a replay of this call on our IR website when it becomes available a few hours after its conclusion.

For today's call, management will go through their prepared remarks, which will be followed by a question and answer session. Before we continue, I would like to refer you to our Safe Harbor Statement in our earnings press release, which also applies to this call.

As we will be making forward-looking statements, please note that all numbers stated in the following management’s prepared remarks are in RMB terms, and we will discuss non-GAAP measures today, which are more thoroughly explained and reconciled to the most comparable measures reported in our earnings release and the filings with the SEC.

I will now turn the call to our first speaker today, the Founder and CEO of Dingdong, Mr. Liang.

Changlin Liang

[Interpreted]

Good morning and good evening, ladies and gentlemen. Welcome to Dingdong's first quarter 2024 earnings conference call. In the first quarter of 2024, we achieved non-GAAP profitability for the sixth consecutive quarter. Notably, we recorded a substantial increase in our net profit margin and revenue growth in March 2024.

This success can be largely attributed to Dingdong's world-leading fresh grocery supply chain capabilities. These capabilities will not only contribute to Dingdong's continued expansion and profitability within the domestic market, but also position the company to make a substantial impact on the overseas market, generating greater and lasting value.