Ding Dong Buy vegetables Q3 made a net profit of 15.5 million yuan in 2023, making profits for four consecutive quarters.
CTOnews.com November 16 news, Ding Dong Buy today released its results for the third quarter of 2023, which ended September 30:
Revenue was 5.1397 billion yuan, compared with 5.9425 billion yuan in the same period in 2022. The net profit was 2.1 million yuan, compared with a net loss of 344.9 million yuan in the same period in 2022; the net profit of Non-GAAP was 15.5 million yuan, compared with a net loss of 285.2 million yuan in the same period in 2022.
Ding Dong official said that this quarter is another quarterly profit since the fourth quarter of 2022, and the fourth consecutive quarter of Non-GAAP profits.
CTOnews.com learned from the report that GMV (transaction value) of Ding Dong Buy was 5.6654 billion yuan (US $776.5 million) in the third quarter of 2023, an increase of 6.4% from the previous month, mainly due to an increase of 6.0% in order volume and 0.5% in AOV (average order value).
Liang Changlin, founder and CEO of Ding Dong Buy, said: "sustained profitability in terms of Non-GAAP for the past four consecutive quarters is crucial for Ding Dong and the industry as a whole. First, it shows that we have successfully weathered the difficult macroeconomic and competitive environment, and many people doubt the sustainability of the industry. Secondly, it reflects the flexibility and adaptability of our enterprise. As the market continues to change rapidly, these attributes remain critical to our long-term sustainable development. Third, we are the first to make a profit among the leading companies competing in the industry. It has been a long and difficult journey to get here, but we adhere to our principles and vision to keep us on the right path. Finally, after breaking the earnings milestone, we look forward to the future with confidence and maintain sustainable long-term growth. We have successfully met our guidance for the first three quarters of this year, and we are confident that we will achieve non-GAAP profits in the fourth quarter and for the whole of 2023. "
