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

CTOnews.com February 13 news, Ding Dong Buy today released its results for the fourth quarter of 2022, which ended December 31. According to the financial report, Ding Dong's total revenue in the fourth quarter was 6.2006 billion yuan ($899 million), up 13.1% from 5.4835 billion yuan in the same period in 2021.

Net profit in the fourth quarter was 49.9 million yuan ($7.2 million), compared with a net loss of 1.0963 billion yuan in the same period in 2021. Without Non-GAAP, the net profit was 115.8 million yuan ($16.8 million), compared with a net loss of 1.0341 billion yuan in the same period in 2021.

CTOnews.com summarizes the fourth quarter results of Ding Dong Buy:

GMV was 6.7695 billion yuan ($981.5 million), an increase of 12.7% compared with 6.004 billion yuan in the same period in 2021.

Total revenue was 6.2006 billion yuan ($899 million), up 13.1% from 5.4835 billion yuan in the same period in 2021.

Total operating costs and expenses were 6.1551 billion yuan ($892.4 million), down 5.6% from 6.5232 billion yuan in the same period in 2021.

Of this total, the cost of selling goods was 4.162 billion yuan (US $603.4 million), an increase of 5.0 per cent from 3.9648 billion yuan in the same period in 2021.

Compliance expenditure was 1.4936 billion yuan ($216.6 million), down 16.4% from a year earlier.

Sales and marketing spending was 91.1 million yuan ($13.2 million), down 74.5% from a year earlier.

General and administrative expenses were 149.3 million yuan (US $21.7 million), an increase of 15.4 per cent over the same period last year.

Spending on product research and development was 259 million yuan ($37.5 million), down 9.0% from a year earlier.

Operating profit was 52 million yuan ($7.5 million), compared with an operating loss of 1.0733 billion yuan in the same period in 2021.

Net profit was 49.9 million yuan ($7.2 million), compared with a net loss of 1.0963 billion yuan in the same period in 2021.

Without Non-GAAP, the net profit was 115.8 million yuan ($16.8 million), compared with a net loss of 1.0341 billion yuan in the same period in 2021.

Basic and diluted earnings per share are both 0.15 yuan ($0.05). Without GAAP, basic and diluted earnings per share are both 0.35 yuan ($0.05).

As of December 31, 2022, Ding Dong had cash and cash equivalents and short-term investment of 6.493 billion yuan ($941.4 million), compared with 5.2311 billion yuan as of December 31, 2021.

Liang Changlin, founder and CEO of Ding Dong, said: "in the fourth quarter of 2022, we recorded for the first time a net profit of 49.9 million yuan for GAAP and 115.8 million yuan for non-GAAP. At the same time, our net operating cash inflow in the fourth quarter was RMB 682.1 million. We have also achieved positive operating cash flow for the whole year. We believe that this strong cash position fully demonstrates our resilience in the face of adversity. We will adhere to the current development strategy while maintaining innovation. Specifically, we will deepen the penetration of the existing market, constantly tap the needs of users, and achieve profitability. At the same time, we will emphasize innovation, especially in food, to develop and launch new foods that cater to a wider range of users. We firmly believe that we will be able to achieve our vision and mission, create value for our consumers and society, and create long-term and sustainable value for our shareholders. "

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