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Dingdong ( Cayman ) Limited Investor Room Dingdong ( Cayman ) Limited Announces Second Quarter 2021 Financial Results SHANGHAI , Aug. 30 , 2021 / PRNewswire / -- Dingdong ( Cayman ) Limited ( " Dingdong " or the " Company " ) ( NYSE : DDL ) , a leading and fastest- growing on - demand e - commerce company in China , today announced its unaudited financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights : • GMV for the second quarter of 2021 increased by 80.8 % year over year to RMB 5,378.2 million ( US $ 833.0 million ) from RMB 2,975.4 million in the same quarter of 2020 . • Total revenue for the second quarter of 2021 increased by 77.9 % year over year to RMB 4,646.0 million ( US $ 719.6 million ) from RMB 2,611.1 million in the same quarter of 2020 . • Non - GAAP net loss for the second quarter of 2021 was RMB 1,728.5 million ( US $ 267.7 million ) , compared with RMB 714.5 million in the same quarter of 2020 . • The number of average monthly transacting users for the second quarter of 2021 increased by 39.1 % year over year to 8.4 million from 6.1 million in the same quarter of 2020 . • The number of frontline fulfillment station were 1,136 as of June 30 , 2021 , increased by 147 compared to that of March 31 , 2021 . Mr. Changlin Liang , Founder and Chief Executive Officer of Dingdong , stated , " We are delighted to report that our GMV in the second quarter of 2021 increased by 80.8 % year over year to RMB5.4 billion . Geographically speaking , we achieved 49.8 % year - over - year growth in our GMV from our most mature markets in the Yangtze Delta region . Growth was mainly driven by growth in our customer base and a significant increase in purchase frequency by our existing users on our platform . We expect that Dingdong will be the fifth infrastructure , next to water , electricity , gas , and internet , in the lives of future households . We are dedicated to making fresh groceries and daily necessities on the Dingdong platform as readily available as running water for every household . " Ms. Le Yu , Chief Strategy Officer of Dingdong , stated , " For the third quarter , we expect to see a 100 % year - over - year increase in total revenues , an improving gross margin , and a narrowing non - GAAP net loss margin . Non - GAAP net loss margin is expected to narrow in the third quarter of 2021 , and further narrow in the fourth quarter of 2021. In Shanghai where our business is more mature , we expect to see improved unit economics in both gross margin and fulfillment efficiency , and deliver a positive operating profit in terms of unit economics in the fourth quarter of this year . " Second Quarter 2021 Financial Results Total net revenues . Total net revenues were RMB 4,646.0 million ( US $ 719.6 million ) , representing an increase of 77.9 % from the same period of 2020. The increase was primarily due to an increase in revenues from product revenues and contribution from service revenues . • Product Revenues were RMB 4,603.3 million ( US $ 713.0 million ) , an increase of 78.4 % from RMB 2,580.6 million in the same quarter of 2020 . ⚫ Service Revenues were RMB 42.7 million ( US $ 6.6 million ) , an increase of 40.4 % from RMB 30.4 million in the same quarter of 2020 . Total operating costs and expenses were RMB 6,583.6 million ( US $ 1,019.7 million ) , an increase of 93.3 % from RMB 3,405.6 million in the same quarter of 2020. The increase was mainly due to significant revenue growth and increased spending on product development expenses to lay a solid ground for further growth . • Cost of Goods Sold were RMB 3,967.4 million ( US $ 614.5 million ) , an increase of 91.8 % from RMB 2,068.3 million in the same quarter of 2020 , mainly due to the increase in total net revenue and our proactive adjustment of pricing strategy to improve customer purchase frequency and customer retention and increase the user penetration in new cities . • Fulfillment expenses were RMB 1,693.5 million ( US $ 262.3 million ) , an increase of 79.3 % from RMB 944.6 million in the same quarter of 2020 , mainly due to the increase in the total number of orders . • Sales and marketing expenses were RMB 410.0 million ( US $ 63.5 million ) , an increase of 263.6 % from RMB 112.8 million in the same quarter of 2020 , mainly because we increased spending on sales and marketing expenses to acquire new customers . • General and administrative expenses were RMB 306.3 million ( US $ 47.4 million ) , an increase of 40.3 % from RMB 218.2 million in the same quarter of 2020 , mainly due to the growth of business scale and increase in the share - based compensation expenses . • Product development expenses were RMB 206.5 million ( US $ 32.0 million ) , an increase of 234.7 % from RMB 61.7 million in the same quarter of 2020 , mainly due to increase in the spending on our supply chain system to further improve efficiency and reduce operating costs , and increased in the spending on agricultural technology to enable the upstream partners . Loss from operations was RMB 1,937.6 million ( US $ 300.1 million ) , compared with operating loss of RMB 794.5 million in the same quarter of 2020. Net loss was RMB 1,937.4 million ( US $ 300.1 million ) , compared with net loss of RMB 858.3 million in the same quarter of 2020 . Non - GAAP net loss , which is a non - GAAP measure that excludes share - based compensation expenses , was RMB 1,728.5 million ( US $ 267.7 million ) , compared with non - GAAP net loss of RMB 714.5 million in the same quarter of 2020. Basic and diluted net loss per share were RMB 33.27 ( US $ 5.15 ) , compared with RMB 15.02 in the same quarter of 2020. Non - GAAP net loss per share , basic and diluted adjusted were RMB 30.05 ( US $ 4.65 ) , compared with RMB 12.79 in the same quarter of 2020 . Cash and cash equivalents and short - term investments were RMB 7,287.7 million ( US $ 1,128.7 million ) as of June 30 , 2021 , compared with RMB 5,619.9 million as of March 31 , 2021 . Conference Call The Company's management will hold an earnings conference call at 8:30 A.M. Eastern Time on Monday , August 30 , 2021 ( 8:30 P.M. Beijing Time on the same day ) to discuss the financial results . The presentation and question and answer session will be presented in both Mandarin and English . Listeners may access the call by dialing the following numbers : International : United States Toll Free : Mainland China Toll Free : Hong Kong Toll Free : 1-412-317-6061 1-888-317-6003 4001-206115 800-963976