Dingdong Maicai (DDL.US) surged over 13% as the company achieved full-year profitability in 2024 and announced a $20mn share repurchase plan.

On Thursday, DINGDONG Maicai (DDL.US) saw a significant rise after its earnings report, with a 17% increase during the trading session. By the end of the day, it had risen 13.38% to US$3.56, with a total trading volume of US$7.861.3 million.

Regarding the news, DINGDONG Maicai released its financial results. In the fourth quarter of 2024, the Company's revenue reached Rmb5.91bn, up 18.3% YoY. Under the non-GAAP standard, it achieved a net profit of Rmb120mn. Additionally, in 2024, DINGDONG Maicai achieved a GMV of Rmb25.56bn, up 16.3% YoY; its revenue reached Rmb23.07bn, up 15.5% YoY. Under the non-GAAP standard, it achieved a net profit of Rmb420mn, up more than 8 times YoY. Notably, the Company achieved its first full-year GAAP profit this year.

Furthermore, 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 prior to March 5, 2026. Notably, this repurchase plan is the second repurchase after the repurchase plan announced on January 29, 2024.