Dingdong Maicai (DDL.US) has announced a $20 million stock repurchase plan.
1min read On March 6, Dingdong Maicai (DDL.US) announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20 million of its shares by March 5, 2026.The Company may begin to implement the one-year share repurchase program after it announces its 2024 fourth-quarter results before March 5, 2026. It is noteworthy that this repurchase plan is the second repurchase after the repurchase plan announced on January 29, 2024. The Company said that it expects to fund the repurchases from its existing cash balance based on its confidence in its ample cash reserves and cash flow and its current sound operating situation.Dingdong Maicai released its latest performance report on March 6, achieving nine consecutive quarters of profitability under the non-GAAP standard and four consecutive quarters of profitability under the GAAP standard, with revenue also achieving positive year-on-year growth for four consecutive quarters. In 2024, it achieved full-year profitability on the basis of a more than 16% year-on-year growth in GMV, with several core operating data performing well.Some analysts believe that this new repurchase plan represents Dingdong Maicai's firm confidence in its business development and future prospects.