Dingdong (Cayman) Limited (NYSE:DDL) Q2 2024 Earnings Conference Call August 7, 2024 8:00 AM ET

Company Participants

Nicky Zheng – Director-Investor Relations
Changlin Liang – Founder and Chief Executive Officer
Song Wang – Chief Financial Officer

Conference Call Participants

Thomas Chong – Jefferies
Robin Leung – Daiwa
Yang Bai – CICC

Operator

Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to the Dingdong Limited Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please note this event is being recorded.

I would now like to turn the conference over to the first speaker today, Nicky Zheng, Director of Investor Relations. Please go ahead, sir.

Nicky Zheng

Thank you. Hello everyone, and welcome to Dingdong’s second 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 second 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

[Foreign Language] Hi, everyone. Thank you for joining Dingdong’s Q2 2024 earnings call. As of Q2 2024, Dingdong has achieved profitability for seven consecutive quarters based on non-GAAP standards. Additionally, after Q1 of this year, the company has again achieved GAAP profitability.

Notably, we have resumed growth since Q1 of this year. Both profits and revenue have shown positive year-over-year growth for two consecutive quarters. These achievements are mainly attributed to Dingdong’s world-leading fresh grocery supply chain capabilities, which facilitate our continued growth in scale and profits.

[Foreign Language] In my speech, I’ll review our Q2 performance, discuss Dingdong’s growth drivers, and provide an outlook for future development and performance.