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

According to CTOnews.com news on September 1, Ding Dong Buy today released its results for the second quarter of 2023, which ended June 30:

Revenue was 4.8406 billion yuan, compared with 6.6344 billion yuan in the same period in 2022, a net loss of 36.6 million yuan, compared with a net loss of 34.5 million yuan in the same period in 2022, and a net profit of 7.5 million yuan in Non-GAAP, compared with 2060 million yuan in the same period in 2022. The attached performance table of CTOnews.com is as follows:

Second quarter results:

Total revenue was 4.8406 billion yuan ($667.6 million), compared with 6.6344 billion yuan in the same period in 2022.

Of this total, product revenue was 4.7787 billion yuan ($659 million), compared with 6.554 billion yuan in the same period in 2022.

Service revenue was 61.9 million yuan ($8.5 million), compared with 80.4 million yuan in the same period in 2022.

Total operating costs and expenses were 4.8669 billion yuan ($671.2 million), down 26.6% from 6.6346 billion yuan in the same period in 2022.

Of this total, the cost of selling goods was 3.3403 billion yuan ($460.7 million), down 26.4 percent from 4.5373 billion yuan in the same period in 2022.

Compliance expenditure was 1.1466 billion yuan ($158.1 million), down 25.6 percent from 1.5418 billion yuan in the same period in 2022.

Sales and marketing expenditure was 89.1 million yuan ($12.3 million), down 39.3% from 146.7 million yuan in the same period in 2022.

General and administrative expenses were 89.1 million yuan ($12.3 million), down 42.0 percent from 153.5 million yuan in the same period in 2022.

Spending on product research and development was 201.7 million yuan ($27.8 million), down 21.0% from 255.3 million in the same period in 2022.

The operating loss was 49.6 million yuan ($6.8 million), compared with an operating loss of 12.6 million yuan in the same period in 2022.

The net loss was 36.6 million yuan ($5 million), compared with a net loss of 34.5 million yuan in the same period in 2022.

Without Non-GAAP, the net profit was 7.5 million yuan ($1 million), compared with 20.6 million yuan in the same period in 2022.

The basic and diluted net loss per share was 0.12 yuan (US $0.02), compared with 0.11 yuan per share in the same period in 2022.

Basic and diluted net income per share is 0.02 yuan (approximately $0.00) per share, not in accordance with Non-GAAP, compared with 0.06 yuan per share in the same period in 2022.

As of June 30, 2023, Ding Dong had cash and cash equivalents and short-term investment of 5.5178 billion yuan ($760.9 million), compared with 6.493 billion yuan as of December 31, 2022.

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