Dingdong Q2 sales gain as China orders increase

Overseas revenue also jumped 36.2% on market expansion.

Dingdong (Cayman) Limited reported a 153.5% year-on-year increase in second-quarter net income to $40m (RMB271.7m), driven largely by an accounting change related to assets classified as held for sale.

Net income from its China business rose 155.8% to $49.4m (RMB334.9m), while overseas operations recorded a net loss of $9.3m (RMB63.2m).

Total revenue increased 8.6% to $956.1m (RMB6.49b), from $889.4m (RMB5.98b) a year earlier.

China revenue rose 8.3% to $945.3m (RMB6.41b), supported by higher order volumes, more transacting users, increased order frequency and the opening of new frontline fulfilment stations in Eastern China.

Overseas revenue grew 36.2% to $10.8m (RMB73.2m), driven by market expansion and customer growth.