In the second quarter, dingdong shopping realized a turnaround under the non GAAP (not in accordance with the general accounting standards of the United States)< IMG ALT = "Ding Dong shopping IC data map" style = "width: 600px;" src=" https://imagecloud.thepaper.cn/thepaper/image/210/445/240.jpg ">
Ding Dong shopping IC data chart < / P > on August 11, Ding Dong shopping (NYSE: DDL) The second quarter financial report of 2022 as of June 30 was released. According to the financial report, the total revenue of dingdong shopping in this quarter was 6.634 billion yuan, an increase of 42.8% year on year; Gmv was 7.115 billion yuan, with a year-on-year increase of 32.3%; The net loss was 34.5 million yuan, and the net loss of the same period last year was 1.937 billion yuan. The net profit not in accordance with the general accounting standards of the United States is 20.6 million yuan, and the net loss of the same period in 2021 is 1728.5 million yuan, achieving a phased profit for the first time< Br > < div class = "height" > < / div > recently, the daily excellent fresh food, which is also a fresh e-commerce, has encountered operational difficulties. Therefore, the outside world has doubts about the future of Ding Dong’s vegetables and the front warehouse mode of fresh e-commerce< Br > < div class = "height" > < / div > at the financial report telephone conference that night, Liang Changlin, founder and CEO of dingdong shopping, said: “we seldom evaluate our friends, and it is more important to do ourselves well than to guide the country. In addition, some people feel that the whole industry is not good when they see some enterprises encounter difficulties. We strongly disapprove of this simple linear thinking mode.”< Br > < div class = "height" > < / div > Liang Changlin believes that even in the same industry, the differences between different enterprises may be very different. “Dingdong shopping is different from any other company in the industry. We focus on the needs of users and force ourselves to make progress. We don’t play smart and stick to commodity power, so we are more and more loved by users. I think the companies that users like are promising companies.” Liang Changlin said< Br > < div class = "height" > < / div > in addition, there are skeptical voices in the industry about the “front warehouse” mode of fresh e-commerce (taking the warehouse as the store and delivering it to consumers within 30 minutes within 3 kilometers). They think that although the front warehouse is convenient for consumers, it allows enterprises to invest too much and the cost is high, which affects profits< Br > < div class = "height" > < / div > Liang Changlin said at the telephone conference that, excluding the three months when the epidemic was serious, dingdong has achieved continuous improvement in the loss rate for ten consecutive months. The company is very confident that it will achieve sustainable profits at the end of this year< Br > < div class = "height" > < / div > “therefore, we have a firm belief in the front-end warehouse model. There are many analyses on the front-end warehouse in the market, but we forget to judge the advantages and disadvantages of a model. The most important key point is whether it really meets the needs of users and conforms to the changing trend of consumer behavior. Only the choice of users determines the success or failure of the business model.” Liang Changlin said< Br > < div class = "height" > < / div > if we split the overall revenue of dingdong shopping in the quarter, the product revenue in the second quarter was 6.554 billion yuan, an increase of 42.4% year-on-year. The service income was 80.4 million yuan, with a year-on-year increase of 88.1%, which was mainly due to the increase in the number of members< Br > < div class = "height" > < / div > as of the second quarter, dingdong’s profit margin of buying vegetables has been optimized for several consecutive quarters. The financial report shows that its gross profit margin in the second quarter was 31.6%, an increase of 17.0 percentage points over the same period of last year, and an increase of 2.9 percentage points over the first quarter; Non GAAP’s net profit margin was 37.5 percentage points higher than that of the same period last year< Br > < div class = "height" > < / div > dingdong’s introduction to buying vegetables is mainly due to the substantial and continuous improvement of dingdong’s supply chain capacity and operation efficiency. For example, improve the efficiency of commodity supply by improving the self-research capacity and production and processing scale of commodities; Through order agriculture, we can use data and market demand to empower agricultural production and reduce inefficient links and resource waste in traditional production and trading< Br > < div class = "height" > < / div > at the same time, the order fulfillment efficiency and operation efficiency of dingdong shopping platform are also optimized< Br > < div class = "height" > < / div > according to the financial report, the fulfillment expense rate of dingdong vegetables in this quarter was 13.2% higher than that in the same period of last year; The marketing expense ratio was optimized by 6.6 percentage points over the previous year. In the first half of this year, the revenue increased by 47.9% year-on-year, achieving a positive operating profit rate of 3.7%< Br > < div class = "height" > < / div > Liang Changlin also said at the telephone conference that dingdong bought vegetables in the Yangtze River Delta region in the first half of the year. Dingdong shopping has served Shanghai consumers since 2017 and gradually expanded to the Yangtze River Delta region. After Shanghai, the whole Yangtze River Delta has become a base for Ding Dong to buy vegetables< Br > < div class = "height" > < / div > for the fresh e-commerce that has lasted for many years, Ding Dong seems to be reducing the expenses in this respect< Br > < div class = "height" > < / div > the financial report shows that the marketing and sales expenses of dingdong shopping for vegetables in this quarter were 147 million yuan, compared with 410 million yuan in the same period of last year, a year-on-year decrease of 64.2%< Br > < div class = "height" > < / div > dingdong shopping predicted that compared with the first quarter before the epidemic, the operation efficiency in the third quarter will continue to improve and the profit rate will be significantly optimized< Br > < div class = "height" > < / div > “there will still be a certain proportion of losses in the third quarter, but the loss rate will be further narrowed compared with the first quarter. Until December this year, dingdong will achieve a single month break even under the non GAAP standard.” Said Yu Le, Chief Strategic Officer of dingdong< Br > < div class = "height" > < / div > according to the financial report, as of the end of the quarter, the balance of dingdong’s vegetables, including cash, cash equivalents and short-term investments, was more than 6 billion yuan< Br > < div class = "height" > < / div > or affected by the release of the financial report, dingdong’s vegetables rose by more than 11% before the US stock market. As of the closing of the US stock market on November 11, dingdong shopping fell 1.67% to close at US $4.42, with a market value of US $1.04 billion.