Dingdong Maicai (DDL.US) rose over 5% before the market opened, marking its first profitable year under GAAP standards.

On Thursday, DINGDONG Maicai (DDL.US) rose more than 5% before the market opened, trading at US$3.32. According to the financial report, DINGDONG Maicai achieved a GMV of US$25.56bn in 2024, up 16.3% YoY; its revenue reached US$23.07bn, up 15.5% YoY. Under the non-GAAP standard, it achieved a net profit of US$42mn, up more than 8 times YoY, and it also achieved a full-year profit under the GAAP standard for the first time this year.

DINGDONG Maicai achieved a GMV of US$6.55bn in 2024Q4, up 18.4% YoY; its revenue reached US$5.91bn, up 18.3% YoY. Under the non-GAAP standard, it achieved a net profit of US$12mn, up more than 6 times YoY; and it also achieved a net profit of US$9mn under the GAAP standard, with a net profit margin of 1.6%.

Moreover, DINGDONG Maicai announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20mn of its shares before March 5, 2026.