Ding Dong made a profit in Shanghai in 20021year. On the evening of February 15, Beijing time, Ding Dong released the fourth quarter performance report for the year ended 20021year/February 3 1 day, with a year-on-year increase of over 70%. Ding Dong bought vegetables in 2002/kloc.
Ding Dong bought vegetables in Shanghai in 20021year1February 15, and Ding Dong bought vegetables (DDL.US) disclosed its performance in the fourth quarter of 20021year. During the reporting period, the company's total revenue was 5.484 billion yuan, a year-on-year increase of 72%, with a net loss of.
Revenue in the fourth quarter of 20021year Source: Ding Dong Shopping Financial Report
It is worth mentioning that in the fourth quarter of 2002/kloc-0, the cost and expense of Ding Dong's grocery shopping was 6.523 billion yuan, up 48% from 44.1600 million yuan in the same period of last year, and down 21%from the previous month. The gross profit margin was 27.7%, up 9.5 percentage points from the previous quarter.
In this regard, Ding Dong explained in the financial report that it is mainly due to the scale advantage and its own production and processing capacity that the profit margin of the production end is brought; In addition, the value brought by Ding Dong's long-term and continuous investment in the producing area is gradually being released.
According to the financial report, as of the fourth quarter of 20021year, Dingdong Shopping * * * owned 10 food research and processing factories, about 60 urban sorting centers and about 1400 pre-warehouses, with an area of 500,000 square meters. In 2022, the company will also start construction of three large-scale and modern fresh food complexes to realize more efficient development, production and transportation of commodities.
Liang Changlin, founder and CEO of Ding Dong Shopping, said that the fourth quarter was the best quarter of the company since its establishment, with revenue increasing by more than 70% year-on-year and significantly optimized efficiency. In 20021year1February, the overall net loss rate of the company narrowed to below 13%, and achieved profitability in Shanghai.
Liang Changlin also added that Shanghai was the first city where Ding Dong bought vegetables. "We have found a way to make a profit in this city, and it will be extended to the whole Yangtze River Delta in the future, and the company's financial situation will soon follow up. In addition, at the end of the fourth quarter, Ding Dong still had a cash reserve of 5.2 billion yuan. Now the company is on the fast track of quality development, and we have enough cash to maintain our operations until we are fully profitable in the future. "
On the evening of February 15, Beijing time, Ding Dong Shopping (NYSE:DDL) released its fourth quarter performance report for the year ending 202 1 year1February 3 1 day. In the fourth quarter, the total revenue increased from 310.88 billion yuan in the same period in 2020 to 5.484 billion yuan, a year-on-year increase of 72.0%. In 20021year, the revenue was 2010.2 billion yuan, up 77.5% year-on-year. The non-GAAP net loss in the fourth quarter was134 million yuan, and the net loss in the same period in 2020 was1239 million yuan.
The financial report shows that the total number of orders completed in the fourth quarter increased from 61400,000 yuan in the same period in 2020 by 63. 1% to 1.00 1 100 million yuan. In the fourth quarter of 20021year, GMV (website transaction amount) increased from 3.763 billion yuan in the same period of 2020 to 6.004 billion yuan, a year-on-year increase of 59.6%.
Regarding the performance in the fourth quarter, Liang Changlin, founder and CEO of Ding Dong Shopping, said at the subsequent conference call, "The fourth quarter was the best quarter since the establishment of Ding Dong Shopping, with revenue increasing by more than 70% year-on-year, and efficiency was significantly optimized. Last year1February, the overall Non-GAAP net loss rate was lower than 13%, compared with the Q2 loss rate of 202 1 year in IPO, which was 37.2%. Shanghai is the first city where Ding Dong bought vegetables. In 20021year1February, Shanghai has achieved full profitability. We have found a way to make profits in this city. It is expected that the whole Yangtze River Delta region will be profitable in the near future. "
As for the news that the company laid off employees 1 10,000 people, Liang Changlin also rumored at the conference call that due to the influence of public opinion, the Shanghai labor inspection department went to the company to conduct on-the-spot investigations, and the results proved that the company's employee turnover had not changed much from previous years.
The efficiency of pre-warehouse is relatively high, and prefabricated vegetables become the core competitiveness.
"Many people doubt whether buying food can be profitable because they are worried that the front warehouse will send the goods home and the cost is too high. In fact, the efficiency of the front warehouse model is relatively high." Liang Changlin said at the conference call that taking Shanghai as an example, the cost of pre-warehouse performance accounts for about 15% of GMV. The public data shows that in the whole fresh market, whether it is offline stores or online traditional e-commerce, the performance fee rate mostly exceeds this ratio. In addition, the storage of the front warehouse reduces the loss. The loss of the traditional fresh e-commerce terminal is about more than 10%, while the purchase of food by Ding Dong is only about 2%.
As of the fourth quarter of 20021year, Dingdong Shopping * * * owned 10 food research and development processing factory; About 60 urban sorting centers and about 1400 pre-warehouses, with an area of 500,000 square meters. In 2022, construction of three large-scale and modern fresh food complexes will be started.
Yu Le, chief strategy officer of Ding Dong, said at the conference call that the biggest threshold for the hot prefabricated dishes in the market at present is mainly the sales channel, which is also the most important core competitiveness of Ding Dong in buying vegetables. "One of the main sales channels of prepared dishes in the market is an e-commerce platform with high traffic and transportation costs, such as Tik Tok. It is not easy to make money. Another channel is the food market, but the consumption level is not high and it is not suitable for development. And Ding Dong's own sales channel for buying vegetables started with the model of B to C, and the scale is already very considerable. In the fourth quarter of last year, the GMV of pre-cooked vegetables bought by Ding Dong reached more than 900 million yuan, with an annual volume of more than 3 billion yuan. Compared with the two pre-cooked vegetable companies listed on the A-share market last year, their scale is more than 2 to 4 times. "
Regarding the advantages of Ding Dong's buying vegetables in prefabricated dishes, Yu Le said that prefabricated dishes are different from other fresh products, and there are many SKUs. If the sales volume is not high, the production end will lack the scale effect. "Although the prefabricated vegetable track is very hot in the capital market, the production capacity of the whole production end is still surplus, and the self-owned channels for buying vegetables have brought very stable sales, and the self-owned production and processing and the capacity of upstream suppliers have achieved large-scale production. In addition, the big data accumulated in its own channels can be quickly fed back to the production end for R&D and production iteration.
"Strive to be close to profitability in Q4 this year"
For the prospect of the first quarter of 2022, Yu Le said that the first quarter of the Lunar New Year is usually the off-season of the urban grocery market, which may lead to a decline in income. In addition, overtime labor costs incurred during the Spring Festival may affect costs. However, it is still expected that the net loss will decrease slightly, and compared with the fourth quarter of 20021,the operating cash outflow in the first quarter will be greatly improved.
Regarding the plan for 2022, Liang Changlin said, first of all, we should continuously improve the commodity strength, continue to adjust the category structure, develop more consumption scenarios, and increase the development of our own brands and our own R&D and processing products. Second, constantly improve the repurchase rate of users, increase the scale through the increase of repurchase rate, and strive to achieve full profitability in the Yangtze River Delta region at the end of the second quarter of this year, and strive to be close to profitability in the fourth quarter of the country. Third, continue to increase investment in infrastructure.
In addition, Liang Changlin also said, "202 1 year has its ups and downs, and 2022 is destined to be extraordinary. We don't comment too much on stock prices." Ding Dong bought vegetables and was listed on the new york Stock Exchange on June 29th, 20021. On the same day, it rose at the opening, and once fell in the late session, and finally closed up 0.85% from the issue price to 23.7 US dollars, with a total market value of about 5.586 billion US dollars. Earlier, Liang Changlin said at the Ding-Dong grocery listing ceremony, "Ding-Dong grocery listing is not for money. From the day of listing, let us forget the stock price, be friends of time and create long-term value."
As of February 15, when the US stock market closed, Ding Dong bought food at $7.3, down 1.75%, with a market value of1720 million.
Ding Dong made a profit in Shanghai in 20021year. On the evening of February 15, Ding Dong Shopping (NYSE：DDL) released its fourth quarter performance report for the year ending 20021year/February 3 1 day.
The data shows that in the fourth quarter, Ding Dong realized a revenue of 5.48 billion yuan, an increase of 72.0% over the same period of last year. In 20021year, the revenue was 2010.2 billion yuan, up 77.5% year-on-year.
In the fourth quarter, Ding Dong's net loss of buying vegetables was1096 million yuan, and the net loss in the same period in 2020 was1246 million yuan. The net loss of Non-GAAP is about RMB134 million yuan, compared with RMB1239 million yuan in the same period last year, and the loss has narrowed.
In addition, the company announced that Shanghai achieved overall profit in1February, and the Yangtze River Delta region achieved UE (unit economic model) correction in this quarter.
According to the financial report, the gross profit margin of Ding Dong's grocery shopping in the fourth quarter of last year was 27.7%, an increase of 9.5% compared with the previous quarter. The reason for the increase in gross profit margin is the improvement of Ding Dong's ability to buy food. Ding Dong said in the financial report that Ding Dong's scale advantage and its own production and processing capacity have brought profit space to the production end. In addition, the category structure of goods has been continuously optimized, which has gradually increased the proportion of GMV of high-quality goods.
With the significant improvement of front-line personnel's human efficiency, under the caliber of Non-GAAP, Ding Dong's expense rate of purchasing vegetables in the fourth quarter was optimized by 4.6% compared with the previous quarter. Optimization of loss rate under Non-GAAP caliber in this quarter 13%.
Regarding the quarterly results, Liang Changlin, founder and CEO of Ding Dong Shopping, said that the fourth quarter was the best quarter since the company was established. In the future, consumption upgrading and commodity power are the main growth drivers of the company.
In terms of commodity data, the financial report shows that at present, there are more than 20 self-owned brands such as Dingdong Ace Dishes, Dingdong Damanguan, Boxing Shrimp, Baoluo Workshop and Liangxin Craftsman. Ding Dong said that he would continue to increase investment in research and development, especially in infrastructure construction in supply chain systems, agricultural technology and food research and development.
As of the fourth quarter, the company * * * owns 10 food R&D and processing plants; About 60 urban sorting centers and about 1400 pre-warehouses, with an area of 500,000 square meters. In 2022, three large-scale and modern fresh food complexes will be started to develop, produce and transport commodities more efficiently.