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THE FUTURE ROCKS x NAIL BAR PRESENTS “RING BLING & NAIL ART FLING” COLLABORATION

HONG KONG, March 6, 2025 /PRNewswire/ — To continue the spirit of the Goddess collection launch, which embodies femininity, strength, and timeless beauty, THE FUTURE ROCKS pays a spectacular tribute to International Women’s Day this March. In partnership with NAIL BAR, a Hong Kong-based nail salon chain celebrating its 25th anniversary, the two are pleased to announce a limited-time collaboration: “Ring Bling & Nail Art Fling,” which runs from March 7 to April 6, 2025.

THE FUTURE ROCKS‘s three exclusive nail art designs.
THE FUTURE ROCKS‘s three exclusive nail art designs.

Just as diamonds—one of the toughest materials on Earth—symbolize how women shine with resilience and grace, this initiative honors the joy of self-expression through exquisite lab-grown diamond jewelry and nail artistry, empowering individuals to embrace their unique style and confidence. As brands founded in Hong Kong, THE FUTURE ROCKS and NAIL BAR share a profound connection; THE FUTURE ROCKS has always actively supported collaborations with female entrepreneurs, while NAIL BAR empowers the local community through the strength of women.

Throughout the collaboration, THE FUTURE ROCKS will showcase its bestselling lab-grown diamond jewelry at three NAIL BAR locations. Inspired by the featured collections, NAIL BAR has created three exclusive nail art designs for clients. They can choose from a range of creative nail decals to express their individuality, blending elegance and artistic flair.

To further promote self-expression, all Nail Bar Clients who share their nail experience wearing THE FUTURE ROCKS jewelry on their social media and subscribe to the e-newsletter will receive 2  complimentary lab-grown white diamonds valued at over HKD 1,000, totaling 0.1 carats (two diamonds of 0.05 carats each), adding a dazzling shine to their nail designs.

All NAIL BAR customers will receive an exclusive promotion code for a special discount on THE FUTURE ROCKS online store, making it the perfect opportunity to add a touch of sparkle to their jewelry collection. Additionally, clients of THE FUTURE ROCKS can enjoy special offers at NAIL BAR, allowing them to beautifully complement their new jewelry purchases with stunning nail art.

THE FUTURE ROCKS and NAIL BAR invite everyone to join this celebration of beauty and confidence. Whether refreshing a manicure or looking for the perfect jewelry to indulge themselves, this collaboration offers a chance to shine even brighter this International Women’s Day.

Exciting Collaboration Details:

  • Date: 7 March – 6 April 2025
  • Location: NAIL BAR Tsim Sha Tsui K11 art mall, Wan Chai and Causeway Branch
  • Mechanism:
    • THE FUTURE ROCKS’ bestselling products will be showcased at 3 NAIL BAR branches throughout the collaboration period.
    • NAIL BAR features three exclusive nail designs inspired by THE FUTURE ROCKS’ bestselling jewelry.
    • Subscribe to the newsletter and share experience wearing THE FUTURE ROCKS jewelry on own social media to receive lab-grown white diamonds totaling 0.1 carats (two diamonds of 0.05 carats each) for nail decoration
    • NAIL BAR customers who subscribe to the newsletter will enjoy an exclusive 20% discount code for all THE FUTURE ROCKS jewelry online during the collaboration period.
    • Customers at THE FUTURE ROCKS pop-up store or online will receive an exclusive discount of HKD1,000off at NAIL BAR*.
      *Applicable for purchasing NAIL BAR packages of HKD 4,000 or more.

Explore the THE FUTURE ROCKS’ official website for the diversified range of lab-grown jewelry.

Sign up for our newsletter to enjoy 10% off your first order and be the first to hear about pre-orders, members-only promotions, and sneak peeks. More information available here.

Media Enquiry:

Media@thefuturerocks.com

ABOUT THE FUTURE ROCKS  

THE FUTURE ROCKS is the world’s premier destination for future-forward jewelry. Future-forward materials, including recycled materials, lab-grown diamonds, and gemstones, are at the heart of all the pieces under THE FUTURE ROCKS’ universe, making a powerful statement while leaving a gentler legacy.

CoinEx Sponsors National Chess Championships in the Philippines

MANILA, Philippines, March 6, 2025 /PRNewswire/ — CoinEx is proud to announce its sponsorship of the upcoming National Chess Federation of the Philippines (NCFP) Chess Championships, a prestigious national-level tournament set to take place from March 13 to 16 at the FPJ Arena in San Jose, Batangas. This event will bring together the country’s top chess talents, showcasing their skills and competing for the chance to represent the Philippines on an international stage.

CoinEx Sponsors NCFP
CoinEx Sponsors NCFP

The tournament holds significant importance, as the champions in each category will earn the honor of representing the Philippines at the Asian Youth Chess Championships in Chiang Mai, Thailand. This opportunity highlights the growing prominence of Filipino chess players and underscores CoinEx’s commitment to supporting sports and youth development in the region.

In addition to sponsoring the event, #CoinEx is thrilled to collaborate with Anichess, a free-to-play online chess game that introduces a unique twist by incorporating spells to add an extra layer of strategy. Developed by Animoca Brands in partnership with Chess.com. Anichess will be exhibiting during the event, showcasing its innovative approach to blending traditional chess with modern gaming elements. This collaboration reflects CoinEx’s dedication to fostering innovation and bringing cutting-edge solutions to the chess community.

CoinEx’s involvement in the NCFP Chess Championships aligns with its mission to support education, sports, and technology. By sponsoring this event, CoinEx aims to promote chess as a tool for developing critical thinking, strategy, and discipline among young players. Furthermore, the partnership with AniChess highlights the potential of blockchain technology to revolutionize traditional games and create new opportunities for players and enthusiasts alike.

The NCFP Chess Championships promise to be an exciting and competitive event, with participants striving for the chance to represent their country on an international stage. CoinEx is honored to be part of this journey, supporting the growth of chess in the Philippines and empowering the next generation of chess champions. 

About CoinEx:

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot trading, swap, automated market maker (AMM), and financial management services for over 10 million users across 200+ countries and regions. Since its establishment, CoinEx has steadfastly adhered to a “user-first” service principle. With the sincere intention of nurturing an equitable, respectful and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.

 

Applications for the Palladium Global Science Award are now open

SHANGHAI, March 6, 2025 /PRNewswire/ — The first annual Palladium Global Science Award competition is now live, with a total prize fund of $350,000. Scientists, startups and research groups involved in the study, analysis and development of new applications for palladium have to submit their entries until 31 July 2025. The China Precious Metals Industry Committee (CPMIC) is the main partner of the competition.

Palladium Global Science Award
Palladium Global Science Award

The competition aims to find and support outstanding scientific and applied ideas, as well as R&D efforts looking into palladium-based materials with unique properties that could lead to new industrial applications for palladium and contribute to the development of future technologies.

Award nominations:

  • New Palladium Applications: Best Scientific Development;
  • New Palladium Applications: Best Scientific Article;
  • New Palladium Applications: Best Applied Concept.

The prize money of the Palladium Global Science Award will be divided among the winners of each of the nominations:

  • Best Scientific Development: 1st place – $120,000; 2nd place – $60,000.
  • Best Scientific Article: 1st place – $80,000; 2nd place – $40,000.
  • Best Applied Concept: 1st place – $50,000.

Applications will be reviewed by an international panel comprising top scientists and experts from major universities and research centres around the world.

Bian Jiang, CPMIC Executive Chairman:
“Palladium is important for the development of many sectors, including the high-tech and green industries. It is crucial to the precious metals industry, not only in terms of palladium’s status as a strategic metal, but also because of the possibility of exploring new ways of using it. The creation of the Palladium Global Science Award provides a unique opportunity to support scientists and research groups working on innovations that can significantly influence the precious metals market and accelerate their adaptation into promising technologies.”

You can apply and find out more details on the official Palladium Global Science Award website at www.palladiumaward.com.

Don’t miss the chance to showcase your ideas on the global stage and become a part of the revolution that will shape the future of technology and science!

 

ZTE’s Minimalist Private 5G-A solution wins GSMA Foundry Innovation Award at the GLOMO Awards 2025

5G-A Monetization innovation Leading New Trends for Industries

BARCELONA, Spain, March 6, 2025 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, won the “GSMA Foundry Innovation Award” at the GLOMO Awards 2025 during MWC Barcelona 2025 for its Minimalist Private 5G-A solution. The award demonstrates the industry’s recognition of ZTE’s Minimalist Private 5G-A solution and highlights the joint achievements of ZTE and its partners in advancing digital transformation across media and entertainment sectors, with innovative applications including free-roam VR large-space theaters and gaming, as well as wireless 4K production and broadcasting for new media and television.

ZTE's Minimalist Private 5G-A solution wins GSMA Foundry Innovation Award at the GLOMO Awards 2025
ZTE’s Minimalist Private 5G-A solution wins GSMA Foundry Innovation Award at the GLOMO Awards 2025

Minimalist Private 5G-A solution for LBE VR & Broadcasting helps Location-based VR Entertainment industry and broadcasters achieve much more efficient transformation in going wireless and upgrade their businesses. The most important benefit of the innovation is to achieve the business upgrade and offer fantastic user experience without compromising mobility, capacity, sustainability and data security. Such positive impacts can be relevant to other industries such as museums, education and tourism alike, thanks to a nice integration of the power of mmWave, edge computing, cloud and reuse of existing 5G base station infrastructure. More specifically for LBE VR entertainment, Minimalist Private 5G-A solution helps the entertainment providers scale their business up much faster, easier and with lower cost, without compromising the visual quality of the virtual worlds and without heavy backpack that some traditional technologies would require the users to carry on their back. As for professional broadcasters, Minimalist Private 5G-A solution sets the cameramen free from the trouble and danger of the long cable behind, so that they can move much more freely to help produce more highly vivid and intimate live broadcasting contents.

The technology is now supporting many LBE VR entertainment centers in a few cities in China, with the latest center powered by ZTE’s Minimalist Private 5G-A solution opened to the public in October 2024. All these entertainment centers have greatly improved customer satisfaction, primarily due to their exceptional visual quality and comfortable physical experience. As a result, they can accommodate a higher number of customers simultaneously, an essential factor for business success, making them stand out in a booming and highly competitive new market.

ZTE has also been collaborating with China Central Television (CCTV) for Chinese New Year Gala live broadcasting powered by Minimalist Private 5G-A solution since 2024, the biggest TV event in China with more than 700 million viewers enjoying more immersive viewing experience. In August 2024, ZTE worked with CelcomDigi, and U Mobile to support RTM (Radio Televisyen Malaysia) in broadcasting 2024 Sukma Games, the biggest national sporting event of the country. The solution was used for both the opening ceremony and the sport games, contributing to the huge success of the games’ broadcasting.

In MWC Barcelona 2025, ZTE partnered with Mobile World Live to utilize this solution for wireless live broadcast of interviews. Additionally, an AR live streaming demonstration, powered by the same technology, is showcased at ZTE’s exhibition stand, engaging visitors to experience the live event firsthand.

The success of ZTE’s Minimalist Private 5G-A solution shows exactly how strong commitment, ecosystem collaboration and deep understanding of the niche markets can make a huge difference when private 5G-A innovations are tailored to solve the key challenges for both professionals and businesses of vertical industries in their pursuit of delivering best user experiences possible to their audience and customers.

The annual GLOMO Awards represents the industry’s most prestigious accolade. With a judge panel comprising over 260 global analysts, media professionals, and industry experts this year, the GLOMO Awards 2025 celebrates individuals and companies that drive innovation and showcase excellence in the rapidly growing mobile industry.

MEDIA INQUIRIES:
Email: ZTE.press.release@zte.com.cn

 

Viettel High Tech Begins 5G Equipment Trials with Leading Middle East Telecom Operator

BARCELONA, Spain, March 6, 2025 /PRNewswire/ — Within the framework of Mobile World Congress 2025 (MWC 2025), on the afternoon of March 5, 2025, Viettel High Tech – Viettel Group, one of very few end-to-end 4G/5G solution providers in the global telecom industry, officially announced the launch of its 5G equipment trial with Emirates Integrated Telecommunications Company PJSC (du), a leading telecom operator in the Middle East. This milestone is considered as a breakthrough in Viettel High Tech’s international expansion strategy and reaffirms Vietnam’s technological capability on the global telecom map.

Viettel High Tech Begins 5G Equipment Trials with Leading Middle East Telecom Operator
Viettel High Tech Begins 5G Equipment Trials with Leading Middle East Telecom Operator

At the event, Viettel High Tech and High Cloud Technologies (HCT) – their strategic partner in the Middle East – signed a Memorandum of Understanding (MoU) with du to show commitment of the three parties cooperating in deploying, testing, and commercializing 5G solutions across the Middle East starting with rigorous trial in the top-tier network of du for 5G OpenRAN public network and 5G private network. By deploying advanced 5G solutions, Viettel High Tech aims to address the growing demand for network capacity and high-speed data transmission while laying the groundwork for transformative applications such as smart cities, VR/AR experiences, and industrial IoT.

Mr. Nguyen Vu Ha, General Director of Viettel High Tech, stated: “Our collaboration with du and HCT will establish a robust 5G ecosystem that meets international standards and accelerates the region’s digital transformation”.

On behalf of du, Mr. Fahad Al Hassawi, CEO of du, emphasized: “This partnership is a crucial step toward providing future-ready connectivity solutions. By integrating Private 5G and Open RAN, we are shaping a next-generation telecom ecosystem that empowers businesses, governments, and communities.”

The collaboration between Viettel High Tech and du aligns with the UAE’s national digitization strategy, which prioritizes investment in telecom infrastructure to drive economic growth. Successful trials will pave the way for large-scale commercial deployment, positioning the UAE as a global hub for advanced telecom technology.

Beyond the 5G trials, Viettel High Tech is actively exploring opportunities to expand its network infrastructure solutions portfolio in the Middle East. This move will help build a comprehensive technology ecosystem and strengthen Viettel High Tech’s position in the global next-generation telecom value chain.

Viettel High Tech – Viettel Group, provides comprehensive telecommunications solutions, including network infrastructure, Private 5G, Open RAN, and cutting-edge technology solutions. With strong expertise in 5G technology, Viettel High Tech reinforces Vietnam’s position on the global technology map. Through international partnerships, the company continuously enhances product quality, expands its global presence, and delivers superior connectivity solutions for long-term customer value.

Emirates Integrated Telecommunications Company PJSC (du) is the fastest-growing mobile and internet service provider in the UAE. Leveraging cutting-edge technology, du consistently innovates to offer a high-quality connectivity experience. With a strong commitment to collaboration and technological advancement, du plays a key role in driving sustainable economic growth in the UAE.

High Cloud Technologies Group (HCT Group) offers end-to-end solutions for businesses— from concept and design to engineering, manufacturing, supply chain management, and product lifecycle. Focused on long-term partnerships, HCT Group has more than 300 global partners and has successfully deployed 5G in over 50 international projects.

MEDIA CONTACT:
Mrs. Le Thuy Mai, Viettel High Tech – Brand & Communication Manager
Email: mailt@viettel.com.vn

Dingdong (Cayman) Limited Announces Fourth Quarter 2024 Financial Results

SHANGHAI, March 6, 2025 /PRNewswire/ — Dingdong (Cayman) Limited (“Dingdong” or the “Company”) (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended December 31, 2024.

Fourth Quarter 2024 Highlights:

  • GMV for the fourth quarter of 2024 increased by 18.4% year over year to RMB6,546.6 million (US$896.9 million) from RMB5,530.3 million in the same quarter of 2023. It has increased on a year-over-year basis for four straight quarters.
  • Non-GAAP net income for the fourth quarter of 2024 increased by 617.9% year over year to RMB116.7 million (US$16.0 million), the ninth consecutive quarter of non-GAAP profitability, compared with non-GAAP net income of RMB16.3 million in the same quarter of 2023.
  • Net income for the fourth quarter of 2024 was RMB91.6 million (US$12.5 million), the fourth consecutive quarter of profitability, compared with a net loss of RMB4.4 million in the same quarter of 2023.
  • Net cash provided by operating activities for the fourth quarter of 2024 was RMB190.9 million (US$26.2 million), the sixth consecutive quarter of net operating cash inflow.

Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, “As of the fourth quarter of 2024, we achieved non-GAAP profitability for the ninth consecutive quarter and GAAP profitability for the fourth consecutive quarter. Additionally, we have recorded positive year-over-year revenue growth for four straight quarters. The rapid performance growth is mainly fueled by the increasing user penetration rate, improved user conversion rates, higher user ARPU. We also accelerated the development of our forward warehouse network in Jiangsu, Zhejiang, and Shanghai regions. Over the past year, we have developed a variety of products, including our popular crabs and Dingdong’s customized pumpkin raw milk. Looking ahead, we are committed to expanding our mission of creating high-quality products that are also reasonably priced. Better products, better service to the clients are our mission and original aspiration.”

Mr. Song Wang, Chief Financial Officer of Dingdong, stated, “In the fourth quarter of 2024, our revenue reached 5.91 billion RMB, an increase of 18.3% compared to the previous year. Meanwhile, GMV totaled 6.55 billion RMB, an 18.4% year-over-year rise. Non-GAAP net profit margin was 2%, resulting in a net profit of 116.7 million RMB. GAAP net profit margin was 1.6%, which amounted to a net profit of 91.6 million RMB. Additionally, the operating net cash inflow was 190.9 million RMB, resulting in positive net inflow for six consecutive quarters. Through high-quality growth and sustained profitability, Dingdong will continue to tackle challenging tasks with a pragmatic approach, aiming to satisfy consumers with excellent products and services while establishing our own differentiated path through stable quality and supply capabilities.” 

Fourth Quarter 2024 Financial Results

Total revenues were RMB5,905.0 million (US$809.0million) compared with total revenues of RMB4,993.5 million in the same quarter of 2023, increased by 18.3% year over year, primarily attributed to the increased numbers of transacting users, improved user conversion rates, higher user ARPU, increased frequency of monthly purchases and expanding our station network in Jiangsu, Zhejiang, and Shanghai this year.

  • Product Revenues were RMB5,822.5 million (US$797.7 million) compared with product revenues of RMB4,922.4 million in the same quarter of 2023.
  • Service Revenues were RMB82.5 million (US$11.3 million) compared with service revenues of RMB71.0 million in the same quarter of 2023, primarily driven by the increase of customers subscribing to Dingdong’s membership program.

Total operating costs and expenses were RMB5,848.0 million (US$801.2 million) compared with RMB5,029.8 million in the same quarter of 2023, with a detailed breakdown as below:

  • Cost of goods sold was RMB4,120.8 million (US$564.5 million), an increase of 18.8% from RMB3,467.8 million in the same quarter of 2023. Cost of goods sold as a percentage of revenues increased slightly to 69.8% from 69.4% in the same quarter of 2023.
  • Fulfillment expenses were RMB1,278.9 million (US$175.2 million), an increase of 9.1% from RMB1,171.7 million in the same quarter of 2023. Fulfillment expenses as a percentage of total revenues decreased to 21.7% from 23.5% in the same quarter of 2023. This was mainly due to the increased order volume boosted operational efficiency. In addition, we optimized the layout of the regional processing centers in the second half of 2023, which will continue to improve their operation efficiency this year.
  • Sales and marketing expenses were RMB137.5 million (US$18.8 million), an increase of 30.8% from RMB105.2  million in the same quarter of 2023. Sales and marketing expenses as a percentage of total revenues increased to 2.3% from 2.1% in the same quarter of 2023, mainly due to the increased spending on sales and marketing activities  and more sale and marketing staffs.
  • General and administrative expenses were RMB109.2 million (US$15.0 million), an increase of 16.4% from RMB93.9 million in the same quarter of 2023, mainly due to the increase of professional service fees.
  • Product development expenses were RMB201.6 million (US$27.6 million), a slightly increase of 5.4% from RMB191.2 million in the same quarter of 2023. While advocating for energy and resource saving, we will continue to invest in our product development capabilities, agricultural technology, data algorithms, and other technology infrastructure, to further enhance our competitiveness.

Income from operations was RMB61.5 million (US$8.4 million), compared with operating loss of RMB21.9 million in the same quarter of 2023.

Non-GAAP income from operations, which is a non-GAAP measure for income from operations that excludes share-based compensation expenses, was RMB86.6 million (US$11.9 million), compared with non-GAAP loss from operations of RMB1.2 million in the same quarter of 2023.

Net income was RMB91.6 million (US$12.5 million), compared with net loss of RMB4.4 million in the same quarter of 2023. Net margin was 1.6% compared with negative 0.1% in the same quarter of 2023.

Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB116.7 million (US$16.0 million), increased by 617.9% year over year, compared with non-GAAP net income of RMB16.3 million in the same quarter of 2023. In addition, non-GAAP net income margin, which is the Company’s non-GAAP net income as a percentage of total revenues, was 2.0% compared with 0.3% in the same quarter of 2023.

Basic and diluted net income per share was RMB0.27 (US$0.04) and RMB0.26 (US$0.04), respectively, compared with net loss per share of RMB0.02 and RMB0.02 in the same quarter of 2023. Non-GAAP net income per share, basic and diluted, was RMB0.35 (US$0.05) and RMB0.33 (US$0.05), respectively, compared with RMB0.04 and RMB0.04 in the same quarter of 2023.

Cash and cash equivalents, restricted cash and short-term investments were RMB4,452.2 million (US$609.9 million) as of December 31, 2024, compared with RMB5,309.7 million as of December 31, 2023. We have been working diligently to optimize our capital usage and financing structure. The total balance of cash and cash equivalents, restricted cash and short-term investments deducting the balance of short-term borrowings, is RMB2.85 billion, a net increase for the sixth consecutive quarter.

Guidance

The Company is looking to sustain year-over-year growth in scale and achieve non-GAAP profits in the first quarter of 2025.

Conference Call

The Company’s management will hold an earnings conference call at 7:00 A.M. Eastern Time on Thursday, March 6, 2025 (8:00 P.M. Beijing Time on the same day) to discuss the financial results. The presentation and question and answer session will be presented in both Mandarin and English. Listeners may access the call by dialing the following numbers:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

4474666

The replay will be accessible through March 13, 2025 by dialing the following numbers:

International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

7865911

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.100.me.

About Dingdong (Cayman) Limited 

We are a leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. We directly provide users and households with fresh groceries, prepared food, and other food products through delivering a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers’ evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP measures, such as non-GAAP net income, non-GAAP net income margin, non-GAAP net income attributable to ordinary shareholders and non-GAAP net income per share, basic and diluted, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company’s results of operations, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company’s operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company’s definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures.

The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2993 to US$1.00, the exchange rate on December 31, 2024 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement 

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong’s strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong’s goals and strategies; Dingdong’s future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong’s expectations regarding demand for and market acceptance of its products and services; Dingdong’s expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong’s industry; and relevant government policies and regulations relating to Dingdong’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of RMB and US$)

As of

December 31,
202
3

December 31,

2024

December 31,

2024

RMB

RMB

US$

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

1,209,225

887,427

121,577

Restricted cash

480

2,788

382

Short-term investments

4,099,977

3,561,977

487,989

Accounts receivable, net

107,879

125,896

17,248

Inventories, net

471,872

553,601

75,843

Advance to suppliers

73,732

62,730

8,594

Prepayments and other current assets

187,486

170,753

23,393

Total current assets

6,150,651

5,365,172

735,026

Non-current assets:

Property and equipment, net

189,084

176,290

24,152

Operating lease right-of-use assets

1,262,134

1,464,791

200,676

Other non-current assets

96,687

111,395

15,260

Total non-current assets

1,547,905

1,752,476

240,088

TOTAL ASSETS

7,698,556

7,117,648

975,114

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

1,422,183

1,660,472

227,484

Customer advances and deferred revenue

240,280

279,276

38,261

Accrued expenses and other current
    liabilities

656,408

 

767,082

 

105,090

Salary and welfare payable

233,073

317,152

43,450

Operating lease liabilities, current

653,529

640,245

87,713

Short-term borrowings

3,300,214

1,606,253

220,056

Total current liabilities

6,505,687

5,270,480

722,054

Non-current liabilities:

Operating lease liabilities, non-current

568,039

780,036

106,864

Other non-current liabilities

126,206

143,118

19,607

Total non-current liabilities

694,245

923,154

126,471

TOTAL LIABILITIES

7,199,932

6,193,634

848,525

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands of RMB and US$)

As of

December 31,

2023

December 31,

2024

December 31,

2024

RMB

RMB

US$

(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY (CONTINUED)

Mezzanine Equity:

Redeemable noncontrolling interests

116,090

125,403

17,180

TOTAL MEZZANINE EQUITY

116,090

125,403

17,180

Shareholders’ equity:

Ordinary shares

4

4

1

Additional paid-in capital

14,061,991

14,181,030

1,942,793

Treasury stock

(20,666)

(51,176)

(7,011)

Accumulated deficit

(13,679,964)

(13,384,881)

(1,833,721)

Accumulated other comprehensive loss

21,169

53,634

7,347

TOTAL SHAREHOLDERS’ EQUITY

382,534

798,611

109,409

TOTAL LIABILITIES, MEZZANINE EQUITY
    AND SHAREHOLDERS’ EQUITY

7,698,556

7,117,648

975,114

 

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

December 31,

2023

2024

2024

RMB

RMB

US$

(Unaudited)

Revenues:

Product revenues

4,922,419

5,822,527

797,683

Service revenues

71,035

82,495

11,302

Total revenues

4,993,454

5,905,022

808,985

Operating costs and expenses:

Cost of goods sold

(3,467,818)

(4,120,793)

(564,546)

Fulfillment expenses

(1,171,734)

(1,278,904)

(175,209)

Sales and marketing expenses

(105,168)

(137,513)

(18,839)

Product development expenses

(191,218)

(201,632)

(27,623)

General and administrative expenses

(93,850)

(109,195)

(14,961)

Total operating costs and expenses

(5,029,788)

(5,848,037)

(801,178)

Other operating income, net

14,452

4,534

621

(Loss) /income from operations

(21,882)

61,519

8,428

Interest income

42,292

37,879

5,189

Interest expenses

(21,241)

(6,852)

(939)

Other (expenses)/income, net

(724)

2,875

394

(Loss)/Income before income tax

(1,555)

95,421

13,072

Income tax expenses

(2,833)

(3,830)

(524)

Net (loss)/income

(4,388)

91,591

12,548

Accretion of redeemable noncontrolling interests

(2,230)

(2,409)

(330)

Net (loss) /income attributable to ordinary
    shareholders

(6,618)

89,182

12,218

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

 (CONTINUED)

(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

December 31,

2023

2024

2024

RMB

RMB

US$

(Unaudited)

Net (loss) /income per Class A and Class B ordinary
   share:

Basic

(0.02)

0.27

0.04

Diluted

(0.02)

0.26

0.04

Shares used in net (loss) /income per Class A and
   Class B ordinary share computation:

Basic

324,976,237

324,500,919

324,500,919

Diluted

324,976,237

337,933,639

337,933,639

Other comprehensive income, net of tax of nil:

Foreign currency translation adjustments

(26,288)

55,517

7,606

Comprehensive (loss) /income

(30,676)

147,108

20,154

Accretion of redeemable noncontrolling interests

(2,231)

(2,409)

(330)

Comprehensive (loss) /income attributable to
    ordinary shareholders

(32,907)

144,699

19,824

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)

For the three months ended

December 31,

2023

2024

2024

RMB

RMB

US$

(Unaudited)

Net cash generated from operating activities

119,835

190,878

26,150

Net cash generated/(used in) investing activities

186,761

(158,850)

(21,762)

Net cash used in financing activities

(393,781)

(49,678)

(6,806)

Effect of exchange rate changes on cash and cash
    equivalents and restricted cash

(818)

3,425

469

Net decrease in cash and cash equivalents and
     restricted cash

(88,003)

(14,225)

(1,949)

Cash and cash equivalents and restricted cash at the
      beginning of the period

 

1,297,708

 

904,440

 

123,908

Cash and cash equivalents and restricted cash at
      the end of the period

1,209,705

890,215

121,959

 

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended
December 31,

2023

2024

2024

RMB   

RMB   

US$  

(Unaudited)

(Loss) /income from operations

(21,882)

61,519

8,428

Add: share-based compensation expenses (1)

20,639

25,073

3,434

Non-GAAP (loss)/income from operations

(1,243)

86,592

11,862

Operating margin

(0.4 %)

1.1 %

1.1 %

Add: share-based compensation expenses

0.4 %

0.4 %

0.4 %

Non-GAAP operating margin

0.0 %

1.5 %

1.5 %

Net (loss)/income

(4,388)

91,591

12,548

Add: share-based compensation expenses (1)

20,639

25,073

3,434

Non-GAAP net income

16,251

116,664

15,982

Net (loss)/income margin

(0.1 %)

1.6 %

1.6 %

Add: share-based compensation expenses

0.4 %

0.4 %

0.4 %

Non-GAAP net income margin

0.3 %

2.0 %

2.0 %

Net (loss) /income attributable to ordinary shareholders

(6,618)

89,182

12,218

Add: share-based compensation expenses (1)

20,639

25,073

3,434

Non-GAAP net income attributable to ordinary
     shareholders

14,021

114,255

15,652

Net (loss) /income per Class A and Class B ordinary share:

Basic

(0.02)

0.27

0.04

Diluted

(0.02)

0.26

0.04

Add: share-based compensation expenses

Basic

0.06

0.08

0.01

Diluted

0.06

0.07

0.01

Non-GAAP net income per Class A and Class B
     ordinary share:

Basic

0.04

0.35

0.05

Diluted

0.04

0.33

0.05

(1) Share-based compensation expenses are recognized as follows:

For the three months ended

December 31,

2023

2024

2024

 RMB    

RMB   

US$    

(Unaudited)

Fulfillment expenses

3,551

4,148

568

Sales and marketing expenses

(341)

1,520

208

Product development expenses

12,361

12,468

1,708

General and administrative expenses

5,068

6,937

950

Total

20,639

25,073

3,434

 

 

 

Dingdong Announces US$20.0 Million Share Repurchase Program

SHANGHAI, March 6, 2025 /PRNewswire/ — Dingdong (Cayman) Limited (“Dingdong” or the “Company”) (NYSE: DDL), leading fresh grocery e-commerce company in China, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20.0 million of its shares over a period until March 5, 2026.

The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. After the publication of the annual results of the Company on or before March 31, 2025, the management may implement the share repurchase, including but not limited to implementing the share repurchase in accordance with plans under the Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. The Company’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. Given the confidence in the Company’s sufficient cash reserves and cash flow, the Company expects to fund the repurchases out of its existing cash balance.

About Dingdong (Cayman) Limited

Dingdong (Cayman) Limited is a leading fresh grocery e-commerce company in mainland China, with sustainable long-term growth. We directly provide users and households with fresh groceries, prepared food, and other food products through delivering a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers’ evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be the first choice for fresh and food shopping.

For more information, please visit: https://ir.100.me.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong’s strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong’s goals and strategies; Dingdong’s future business development, financial conditions, and results of operations; the expected outlook of the on-demand e-commerce market in China; Dingdong’s expectations regarding demand for and market acceptance of its products and services; Dingdong’s expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong’s industry; Dingdong’s proposed use of proceeds; and relevant government policies and regulations relating to Dingdong’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

TECNO Showcases Next-Gen AI Ecosystem Products at MWC Barcelona 2025

BARCELONA, Spain, March 6, 2025 /PRNewswire/ — Innovative AI-driven technology brand TECNO caught the eye in MWC Barcelona 2025 at its TECNO AI Ecosystem Product Launch event, highlighting its practical AI strategy through the groundbreaking debut of the CAMON 40 smartphone series, TECNO AI Glasses Pro, and the MEGABOOK S14 laptop. TECNO CMO Laury Bai and Chief Product Launch Officer Oliver Mas were joined by key representatives from MediaTek, Google Cloud, DXOMARK and Qualcomm to unveil the innovations and spotlight the strategic collaborations that are driving advancements in AI and mobile imaging technologies.


Jan Stryjak, Associate Director at Counterpoint Research, shared, “In the past year, we have observed significant advancements in the field of AI.  It is evident that AI will continue to drive transformative changes in our daily lives. In this critical period for the economic development of emerging markets, TECNO’s AI technologies are unlocking potential for diverse needs.”

“The application of AI technologies is crucial and urgent in emerging markets. We’re committed to bridging the digital gap between emerging and mature markets.” said TECNO CMO, Laury Bai. “TECNO is taking a practical approach to make AI more accessible, ensuring users in emerging markets can access AI and cutting-edge technologies.”

Driven by its commitment, TECNO has forged a robust partnership with MediaTek, establishing a joint AI Laboratory dedicated to accelerating advancements in AI. At the event, James Chen, Vice President of Product and Technology Marketing at MediaTek, emphasized, “The synergistic R&D efforts between TECNO and MediaTek are set to democratize AI technology. Our collaboration powers a seamless, interconnected AI experience, bringing users a future of truly connected intelligence.”

CAMON 40 Series Powered by AI One-Tap FlashSnap Revolutionizes Smartphone Snapshot Photography

TECNO’s Global Product Launch Officer, Olivier Mas, officially unveiled TECNO’s next-generation AI-driven products. Attendees at TECNO’s launch event witnessed the highly anticipated debut of TECNO’s new CAMON 40 Series, a device that embodies TECNO’s legacy of excellence in mobile imaging. Featuring One-Tap FlashSnap Mode and TECNO AI, the series sets a new benchmark in smartphone photography, delivering exceptional snapshot capabilities and AI-enhanced user experiences.

The CAMON 40 Series exemplifies a commitment to innovation that transcends hardware and software, extending into strategic partnerships that deliver cutting-edge AI solutions to emerging markets. Matt Waldbusser, Managing Director of Global Solutions and Consumer AI at Google Cloud, remarked, “Our collaboration with TECNO on the CAMON 40 Series is a standout example. Leveraging Google Cloud’s capabilities, we’ve introduced groundbreaking features such as Ask Ella, AI Image Generator, AI Writing, and AI Translate. I am particularly impressed by the industry-leading and competitive edge of some of these innovations. For instance, TECNO’s AI supports text translation in 136 languages, voice translation in 44 languages, and photo translation in 51 languages. We are excited to further strengthen our partnership with TECNO, unlocking limitless potential to bring advanced yet practical AI capabilities to emerging markets in a convenient and secure manner.”

To delve deeper into the imaging prowess of the CAMON 40 Series, TECNO invited Frédéric Guichard, CEO of DXOMARK, to share the image performance of CAMON 40 Pro. Frédéric highlighted, “The CAMON 40 Pro 5G has demonstrated exceptional imaging and performance capabilities in our rigorous evaluations. We’ve been particularly impressed with photo performance being the best for devices under 600$, and the 1st eligible device to our Smart Choice Label.”

Beyond its advanced rapid-capture functionality, the integration of TECNO AI further enhances the device’s capabilities. Intelligent imaging, a 360° AI Call Assistant, and productivity tools elevate creativity and efficiency. Powered by MediaTek’s latest chipsets, the series ensures smooth performance, fast processing, and extended battery life. With a sleek, durable, and water-resistant design, it seamlessly blends style with practicality for modern users.

MEGABOOK S14, the World’s Lightest 14-inch OLED Laptop, Inspires Creators and Game Lovers

The MEGABOOK S14 is TECNO’s first OLED laptop and the industry’s lightest 14-inch OLED laptop, featuring a  2.8K OLED display and incredibly weighing only 899g (31.7oz). The laptop is equipped with the outstanding power of the Snapdragon® X Elite compute platform, the flagship chipset for AI PCs from Qualcomm Technologies, and integrates TECNO’s world’s first self-developed edge-side large-scale AI model, to achieve AI-enhanced multitasking.

Specifically designed for next-gen AI productivity, TECNO AI enhances the Ella AI Assistant, AI-powered PPT generation, AI-driven image search, smart albums, and offline meeting transcription with multilingual support. The External Graphics Dock, equipped with a powerful NVIDIA graphic card, delivers scalable, high-performance capabilities for design, gaming, and content creation. The laptop’s 2.8K OLED display with a 120Hz refresh rate ensures exceptional visuals, while DTS:X Ultra dual 2W speakers, Wi-Fi 6E, fingerprint login, and PC Manager optimize connectivity and user experience.

TECNO’s strategic partnership with Qualcomm Technologies was a highlight of the TECNO AI Ecosystem Product Launch event, demonstrating a shared vision for the future of AI PCs. Kedar Kondap, SVP & GM of Compute and Gaming at Qualcomm, took the stage to discuss the integration of Qualcomm’s cutting-edge PC chipset into the new MEGABOOK S14 laptop, underscoring TECNO’s commitment to delivering high-performance computing solutions.

In addition, TECNO also introduced several standout new products. The featherlight 999g (35.2oz) ultrabook MEGABOOK T14 Air, features high-speed storage and LPDDR5 memory, while the ultra-thin, all-metal MEGABOOK K15S, equipped with a powerful 70Wh battery and supported by a 65W PD GaN charger, offers a smarter and more long-lasting user experience. Both devices are empowered by TECNO AI with advanced AI capabilities such as AI Album and AI Voice Assistant, making them perfect companions for all aspects of life.

The Next Game-Changing Tech Innovation: See the World with the TECNO AI Glasses Series

TECNO’s new AI Glasses Series also took center stage with the introduction of TECNO AI Glasses Pro and TECNO AI Glasses, reimagining eyewear with cutting-edge imaging, intelligent interactions, and a sleek aesthetic. The TECNO AI Glasses feature an aviator design, while the Pro model showcases a browline style, both embodying timeless elegance and modern fashion.

Equipped with a 50MP high-definition camera, the series integrates an OV50D sensor, a 100° ultra-wide-angle custom lens, and an AI ISP imaging chip, forming a mobile-grade imaging system. This system lets users capture stunning, high-resolution photos with advanced AI noise reduction and HDR capabilities. With real-time translation supporting over 100 languages, TECNO AI’s Ella empowers accurate translation even for less common languages, as well as voice control, AI-powered object recognition, and intelligent information summaries for ultimate convenience.

Additionally, the AI Glasses Pro features a MicroLED display with 7th-gen resin waveguide technology, offering a 30° field of view, over 1,500 nits of brightness AR display, and a lightweight, ultra-thin design. The AR display allows users to effortlessly enjoy features like translation display, navigation, information prompts, and teleprompting.

Equipped with a 250mAh battery, these glasses offer over 11 hours of music playback and 8 hours of mixed use with just 30 minutes of charging. An advanced ultra-linear speaker, bass enhancement, and spatial sound deliver an immersive audio experience, while Wi-Fi 6 and Bluetooth 5.4 ensure seamless connectivity.

With these innovative launches, TECNO is setting new standards in mobile imaging and AI-enhanced technology, shaping a more connected and empowered future for consumers in emerging markets. Once again, TECNO has showcased its cutting-edge innovation on the global stage at MWC. With the brand essence of “Stop at Nothing”, TECNO’s relentless pursuit of innovation is making AI-powered technology more accessible, allowing consumers to experience the future ahead of time.