Shulou(Shulou.com)11/24 Report--

According to news on the evening of November 11, Beijing time, Ding Dong Buy today released its results for the third quarter of 2022, which ended on September 30.

Ding Dong's third total revenue was 5.9425 billion yuan ($835.4 million), down 4.0 percent from 6.1895 billion yuan in the same period in 2021, according to the financial report. The net loss was 344.9 million yuan ($48.5 million), compared with a net loss of 2.0106 billion yuan in the same period in 2021. Without Non-GAAP, the net loss was 285.2 million yuan ($40.1 million), compared with 1.9756 billion yuan in the same period in 2021.

Third quarter results:

GMV was 6.512 billion yuan ($915.4 million), down 7.2% from 7.0185 billion yuan in the same period in 2021.

Total revenue was 5.9425 billion yuan ($835.4 million), down 4.0 percent from 6.1895 billion yuan in the same period in 2021.

Total operating costs and expenses were 6.2545 billion yuan ($879.2 million), down 23.8% from 8.2083 billion yuan in the same period in 2021.

Of this total, the cost of selling goods was 4.157 billion yuan ($584.4 million), down 17.9 percent from 5.0612 billion yuan in the same period in 2021.

Compliance expenditure was 1.5953 billion yuan (US $224.3 million), down 30.9% from the same period last year.

Sales and marketing expenditure was 127.2 million yuan ($17.9 million), down 70.3% from a year earlier.

General and administrative expenses were 120.1 million yuan ($16.9 million), down 21.5% from a year earlier.

Spending on product research and development was 255 million yuan ($35.9 million), down 0.9% from a year earlier.

The operating loss was 312 million yuan ($43.9 million), compared with an operating loss of 2.0189 billion yuan in the same period in 2021.

The net loss was 344.9 million yuan ($48.5 million), compared with a net loss of 2.0106 billion yuan in the same period in 2021.

Without Non-GAAP, the net loss was 285.2 million yuan ($40.1 million), compared with 1.9756 billion yuan in the same period in 2021.

The basic and diluted losses per share were both 1.07 yuan ($0.15), compared with 6.19 yuan per share in the same period last year.

Without Non-GAAP, the basic and diluted losses per share were both 0.89 yuan ($0.12), compared with 6.08 yuan per share in the same period last year.

As of September 30, 2022, Ding Dong had cash and cash equivalents and short-term investment of 5.8616 billion yuan ($824 million), compared with 5.2311 billion yuan as of December 31, 2021.

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