Home Blog Page 855

Huawei Launches iFTTO Solution, Accelerating Campus Intelligence with Innovative Capabilities

BARCELONA, Spain, March 4, 2026 /PRNewswire/ — At MWC Barcelona 2026, Huawei unveiled its iFTTO solution, designed to accelerate the intelligent transformation of campuses through artificial intelligence. By integrating optical networks with AI technologies, iFTTO aims to build a robust foundation for the rapid expansion of campus AI applications. The solution features multi-dimensional information convergence, intelligent O&M, and open IoT, enabling campuses to evolve into truly intelligent environments.

Perry Yang, President of Huawei Enterprise Optical Domain
Perry Yang, President of Huawei Enterprise Optical Domain

As AI applications flourish in campuses, traditional physical spaces are being transformed into digital, intelligent ecosystems. This evolution demands higher network bandwidth and lower latency, while introducing new challenges for intelligent campus operations. It is in this context that “Huawei has upgraded its FTTO solution to the iFTTO solution, driving campus networks beyond traditional “connectivity” toward multi-dimensional information convergence and the Internet of Things. This evolution establishes a unified foundation that integrates vision, computing, and control, laying the groundwork for smart campus transformation and accelerating the journey toward intelligent operations,” according to Perry Yang, President of Huawei Enterprise Optical Domain.

To address the evolving requirements of smart campuses, Huawei introduced the O-N.E.X.T concept, which combines optical and intelligent technologies within the iFTTO solution. This approach redefines the value of campus networks and fosters a new smart campus ecosystem.

N.E.X.T encapsulates four innovative solution features. N stands for “Network Unified by Optical,” where optical networks connect directly to terminals, transforming the architecture from two layers into one. E stands for “Ecosystem of Open IoT,” which is achieved through Huawei’s industry-first Wi-Fi 7 optical IoT AP with built-in NearLink and Bluetooth modules, enabling unified deployment and a shared bus for both network and IoT connectivity. X stands for “X-Dimensional Information Fusion,” which supports multi-dimensional data sources such as vision, Wi-Fi channels, radio frequency, and 3D LiDAR, enabling various AI applications through multi-modal collaborative computing. T stands for “Towards Autonomous Operation (autonomous driving network),” which highlights Huawei’s adoption of the industry’s first intelligent agent for all-optical campus O&M. This supports interactive, proactive O&M, delivering closed-loop management and improving operational efficiency. And finally, O stands for “Open 3-Layer Computing Power,” which supports the deployment of AI applications across industries such as smart healthcare and energy-efficient hospitality through cloud-edge-device synergy.

Huawei’s iFTTO solution delivers differentiated and unique value for specific scenarios across industries such as education, healthcare, and hospitality.

In education, the iFTTO solution uses passive all-optical aggregation and tri-band Wi-Fi 7 optical APs to deliver ultra-10G connectivity to every room, building ultra-broadband campus networks. It also enables coordinated control of classroom lighting and air conditioning, helping reduce energy consumption. In dormitories, AI algorithms prioritize critical services to improve user experience. In healthcare, 50G PON accelerates AI-powered pathology analysis, while optical terminals interconnect with IoT devices in wards to support intelligent nursing and protect patient privacy. For hotels, innovative 2D-to-3D video conversion technology offers guests an immersive entertainment experience.

To date, Huawei’s FTTO solution has served more than 15,000 campuses.

Huawei Launches Scenario-Specific Solutions for Office, Healthcare, and Education

BARCELONA, Spain, March 4, 2026 /PRNewswire/ — At MWC 2026, Huawei unveiled a range of new scenario-specific solutions for office, healthcare, and education. By integrating intelligent and digital technologies into its video conferencing solutions, Huawei provides a solid technical foundation to drive enterprises’ digital transformation.

Intelligent Conferencing and Office Solution: Creating an All-Scenario Device-Cloud Synergy Ecosystem

Huawei’s intelligent conference and office solution introduces groundbreaking smart features, including a voice assistant for scheduling meetings, real-time translation with subtitles during meetings, and role-based post-meeting summaries to improve efficiency. Devices such as the IdeaHub S3 and other meeting displays integrate with leading cloud conferencing platforms outside China, using AI to meet the seamless cross-regional, cross-device collaboration needs of multinational companies.

Huawei IdeaHub series
Huawei IdeaHub series

Telemedicine Solution: Making Quality Medical Resources More Accessible

The uneven distribution of medical resources often hinders patients from receiving timely and effective diagnosis and treatment, a longstanding issue in the healthcare sector. Huawei’s telemedicine system facilitates real-time remote communication between doctors and patients, breaking down barriers across departments, hospitals, and regions. The immersive telepresence system provides a face-to-face communication experience in scenarios such as remote multidisciplinary consultations and emergency command. Ge Fangmin, Director of the Internet Medicine Center at the Second Affiliated Hospital of Zhejiang University, delivered a keynote speech at the event on how AI-assisted digital collaboration is transforming the telemedicine ecosystem and helping small- and medium-sized medical institutions conveniently access remote medical resources from central hospitals. The keynote included practical experiences in scenarios such as multi-hospital collaboration and multi-disciplinary remote consultation.

Ge Fangmin, Director of the Internet Medicine Center at the Second Affiliated Hospital of Zhejiang University, delivered a keynote speech
Ge Fangmin, Director of the Internet Medicine Center at the Second Affiliated Hospital of Zhejiang University, delivered a keynote speech

AI Classroom: Redefining Education

Huawei also introduced the AI smart classroom solution, centered on the IdeaHub K3 series in various sizes, to foster a new way of teaching that emphasizes AI, efficient interactions, and environmental sustainability. In partnership with industry-leading companies such as ULearning and Chaoxing, Huawei has developed smart teaching platforms to deliver a seamless educational experience.

The IdeaHub K3 boasts physical anti-blue light and ultrasonic projection capabilities, and it seamlessly adapts to multiple systems and ecosystems. The IdeaManager facilitates unified device operation and management, promoting energy saving. Huawei and Chaoxing Fanya jointly launched the Newvar AI-LMS smart teaching platform. This platform seamlessly integrates online and offline learning, enables instant, personalized AI-driven instruction, and introduces a new hybrid teaching model that leverages AI data to improve learning outcomes. The AI classroom solution will accelerate the digital transformation of education.

AI Classroom Solution Global Launch
AI Classroom Solution Global Launch

Looking forward, Huawei will continue to innovate its products and technologies, working closely with global intelligent collaboration partners to drive the digital transformation of vertical industries. Huawei’s vision is to facilitate efficient interconnection and collaboration among people, teams, and organizations, and build a fully connected, intelligent world.

Huawei Elevates Financial AI Solutions to Power Digital and Intelligent Transformation in Global Finance

BARCELONA, Spain, March 4, 2026 /PRNewswire/ — During MWC Barcelona 2026, Huawei hosted the finance session themed “Powering Resilient Intelligence, Co-creating Finance Future”. At the event, Huawei announced a comprehensive upgrade of its Banking AI and Foundation Model Solutions, elevating core capabilities in Scenario, Technology, Systems Engineering, and Ecosystem.

Jason Cao, CEO of Huawei Digital Finance BU, highlighted that in today’s world of uncertainty, banks must build resilience across multiple dimensions, ensuring multi-active redundancy to prevent system failures, reinforcing multi-layer security against cyberattacks, and laying a solid foundation for global financial institutions to accelerate into the AI era.

Jason Cao, CEO of Huawei Digital Finance BU
Jason Cao, CEO of Huawei Digital Finance BU

Alvin Feng, President of Huawei Digital Finance International, delivered a speech titled “Beyond Digital: Towards AI-Infused Finance.” He emphasized that the transition from traditional banks to AI-driven banks brings profound changes in customer interactions, human-machine collaboration, decision-making approaches, system architecture, and customer experience. Banks need a clear blueprint that links business strategy with technology execution.

Drawing on global experience with leading financial institutions, Huawei created the Intelligent Finance Value Implementer to meet this need. It provides a structured approach to scenario selection, enterprise architecture, and AI deployment, enabling banks to build both digital and AI foundations. Supported by systems engineering and an open ecosystem, it helps banks realize both technological and business value. This reflects a fundamental shift: technology is no longer a support function—it is now a value center at the heart of the business.

Alvin Feng added that the key to AI banking lies in using systems engineering to unify AI infrastructure with open ecosystems, reengineering banking processes through Human Intelligence and Artificial Intelligence collaboration.

To this end, Huawei has comprehensively upgraded its Banking AI and Foundation Model Solutions:

  1. Huawei unveiled its latest SuperPoD offerings, AI Data Platform, and Xinghe AI Network, to help financial customers build resilient infrastructure for both general-purpose and AI computing.
  2. By building end-to-end capabilities in intelligent operations & maintenance, specialized model tuning, agent development, and scenario design, Huawei has leveraged systems engineering to reduce the agent development cycle from months to weeks, improve the prompt accuracy by 10%, and cut the end-to-end latency by over 60%.
  3. The RongHai Program has been upgraded to include over 150 solution partners and over 11,000 consulting, sales, service, and integration partners worldwide to build an ecosystem spanning customer operations, risk management, and automation, and jointly innovate AI in all scenarios with financial institutions.

Looking ahead, Huawei remains committed to continuous innovation, helping global financial institutions build intelligent, autonomous, and resilient digital infrastructure. With its open ecosystem and systems engineering capabilities, Huawei will drive the deep integration of AI into core financial scenarios.

Dingdong (Cayman) Limited Announces Fourth Quarter 2025 Financial Results

SHANGHAI, March 4, 2026 /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, 2025.

Fourth Quarter 2025 Highlights:

  • GMV for the fourth quarter of 2025 increased by 2.4% year over year to RMB6,703.2 million (US$943.0 million) from RMB6,546.6 million in the same quarter of 2024, positive year-on-year growth for eight straight quarters.
  • Revenue for the fourth quarter of 2025 increased by 5.7% year over year to RMB6,242.6 million (US$892.7 million) from RMB5,905.0 million in the same quarter of 2024, positive year-on-year growth for eight straight quarters.
  • Total number of orders increased by 3.4% year over year in the fourth quarter of 2025.
  • Net income for the fourth quarter of 2025 was RMB33.6 million (US$4.8 million), the eighth consecutive quarter of profitability.
  • Non-GAAP net income for the fourth quarter of 2025 was RMB50.8 million (US$7.3 million), the thirteenth consecutive quarter of non-GAAP profitability.

Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated, “As of the fourth quarter of 2025, Dingdong has maintained profitability under non-GAAP standards for thirteen consecutive quarters and under GAAP standards for eight consecutive quarters. Also the Company has delivered year-over-year revenue growth for the eighth consecutive quarter. This consistent top-line expansion, together with the steady delivery of profitability objectives, fully underscores Dingdong’s strategic resilience and strong execution capabilities amid the complex and competitive market environment. It also provides solid fundamentals and strong momentum to advance our long-term strategic initiatives.”

Mr. Song Wang, Chief Financial Officer of Dingdong, stated, “In the fourth quarter of 2025, Dingdong reported revenue of RMB6.24 billion, marking a 5.7% year-on-year growth and maintaining positive growth for eight straight quarters. Non-GAAP net profit reached RMB50.8 million with a 0.8% net profit margin, while GAAP net profit was RMB33.6 million with a 0.5% margin. We had net operating cash inflow of RMB0.20 billion in the fourth quarter of 2025, the tenth consecutive quarter of positive cash flow. By the end of the fourth quarter, after deducting short-term borrowings, our actual cash owned increased to RMB3.14 billion, the tenth consecutive quarter of sustained growth.”

Fourth Quarter 2025 Financial Results

Total revenues were RMB6,242.6 million (US$892.7 million) compared with total revenues of RMB5,905.0 million in the same quarter of 2024, increased by 5.7% year over year, primarily due to the rise of number of orders resulting from rise in the average monthly number of transacting users and higher monthly order frequency, and new opened frontline fulfillment stations with density and market penetration improved in East China. Additionally, our B2B revenue achieved year-over-year growth, with the revenue contribution from overseas B2B operations continuing to increase and posting rapid quarter-over-quarter growth. The increase was offset by the impact of the price decline in CPI for certain major categories in our business, such as pork, in the fourth quarter of 2025.

  • Product Revenues were RMB6,164.6 million (US$881.5 million) compared with product revenues of RMB5,822.5 million in the same quarter of 2024, increased by 5.9% year over year.
  • Service Revenues were RMB78.0 million (US$11.2 million) compared with service revenues of RMB82.5 million in the same quarter of 2024, decreased by 5.4% year over year.

Total operating costs and expenses were RMB6,252.5 million (US$894.1 million) compared with RMB5,848.0 million in the same quarter of 2024, with a detailed breakdown as below:

  • Cost of goods sold was RMB4,415.9 million (US$631.5 million), an increase of 7.2% from RMB4,120.8 million in the same quarter of 2024. Cost of goods sold as a percentage of revenues increased to 70.7% from 69.8% in the same quarter of 2024. Gross margin decreased to 29.3% from 30.2% in the same quarter of 2024. Since the launch and continued implementation of the 4G Strategy in early 2025, the gross margin for the fourth quarter of 2025 was generally consistent with that of previous quarters, but decreased compared with the same period of the prior year.
  • Fulfillment expenses were RMB1,350.9 million (US$193.2 million), an increase of 5.6% from RMB1,278.9 million in the same quarter of 2024. Fulfillment expenses as a percentage of total revenues slightly decreased to 21.6% from 21.7% in the same quarter of 2024.
  • Sales and marketing expenses were RMB136.7 million (US$19.5 million), a decrease of 0.6% from RMB137.5 million in the same quarter of 2024. Sales and marketing expenses as a percentage of total revenues decreased to 2.2% from 2.3% in the same quarter of 2024. The year-on-year decrease in marketing expenses is attributable to the positive results achieved by the 4G strategy rolled out in the first three quarters. The company has further focused on the operation strategy of leveraging the organic traffic of high-quality products, reduced investment in inefficient marketing activities, and thus improved the input-output efficiency of marketing expenses.
  • General and administrative expenses were RMB130.3 million (US$18.6 million), an increase of 19.3% from RMB109.2 million in the same quarter of 2024, mainly driven by staff costs, specifically from the new “Dong Li Sheng” management trainees.
  • Product development expenses were RMB218.7 million (US$31.3 million), an increase of 8.5% from RMB201.6 million in the same quarter of 2024. 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 such as the AI technical capability, to further enhance our competitiveness.

Net income from operations was RMB12.0 million (US$1.7 million), compared with net income from operations of RMB61.5 million in the same quarter of 2024.

Non-GAAP income from operations, which is a non-GAAP measure for loss from operations that excludes share-based compensation expenses, was RMB29.1 million (US$4.2 million), compared with Non-GAAP income from operations of RMB86.6 million in the same quarter of 2024.

Net income was RMB33.6 million (US$4.8 million), compared with net income of RMB91.6 million in the same quarter of 2024.

Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB50.8 million (US$7.3 million), compared with non-GAAP net income of RMB116.7 million in the same quarter of 2024. In addition, non-GAAP net income margin, which is the Company’s non-GAAP net income as a percentage of total revenues, was 0.8% compared with 2.0% in the same quarter of 2024.

Basic and diluted net income per share were RMB0.10 (US$0.01) and RMB0.09 (US$0.01), compared with net income per share of RMB0.27 and RMB0.26 in the same quarter of 2024. Non-GAAP net income per share, basic and diluted, were RMB0.15 (US$0.02) and RMB0.14 (US$0.02), compared with RMB0.35 and RMB0.33 in the same quarter of 2024.

Cash and cash equivalents, restricted cash and short-term investments were RMB3,976.8 million (US$568.7 million) as of December 31, 2025, compared with RMB3,908.2 million as of September 30, 2025. We have been working diligently to optimize our capital usage and financing structure. The cash and cash equivalents, restricted cash, short-term investments and long-term deposits as included in the other non-current assets deducting the balance of short-term borrowings, is RMB3.14 billion, a net increase for the tenth consecutive quarter, compared with RMB3.03 billion as of September 30, 2025.

The Definitive Agreement with Meituan

On February 5, 2026, the Company announced the entry into a definitive agreement to sell its China business to Meituan. On February 10, 2026, the Company further announced its intention to utilize a substantial majority of the proceeds from the sale of its China operations for share repurchase plans and/or dividends upon the closing of the transaction, as well as other material terms of the transaction. For details, please refer to the Company’s previous press releases.

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 RMB6.9931 to US$1.00, the exchange rate on December 31, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ 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,
2024

December 31,
2025

December 31,
2025

RMB

RMB

US$

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

887,427

1,106,795

158,270

Restricted cash

2,788

340

49

Short-term investments

3,561,977

2,869,681

410,359

Accounts receivable, net

125,896

191,939

27,447

Inventories, net

553,601

570,485

81,578

Advance to suppliers

62,730

114,105

16,317

Prepayments and other current assets

170,753

186,744

26,704

Total current assets

5,365,172

5,040,089

720,724

Non-current assets:

Property and equipment, net

176,290

232,757

33,284

Operating lease right-of-use assets

1,464,791

1,580,099

225,951

Other non-current assets

111,395

163,223

23,341

Total non-current assets

1,752,476

1,976,079

282,576

TOTAL ASSETS

7,117,648

7,016,168

1,003,300

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

1,660,472

1,920,341

274,605

Customer advances and deferred revenue

279,276

273,260

39,076

Accrued expenses and other current
  liabilities

767,080

760,613

108,766

Salary and welfare payable

317,152

304,531

43,547

Operating lease liabilities, current

640,245

664,304

94,994

Short-term borrowings

1,606,253

871,520

124,626

Total current liabilities

5,270,478

4,794,569

685,614

Non-current liabilities:

Operating lease liabilities, non-current

780,036

897,811

128,385

Other non-current liabilities

143,118

147,573

21,103

Total non-current liabilities

923,154

1,045,384

149,488

TOTAL LIABILITIES

6,193,632

5,839,953

835,102

 

DINGDONG (CAYMAN) LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

 (Amounts in thousands of RMB and US$)

As of

December 31, 
2024

December 31
2025

December 31
2025

RMB

RMB

US$

(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY (CONTINUED)

Mezzanine Equity:

Redeemable noncontrolling interests

125,405

135,435

19,367

TOTAL MEZZANINE EQUITY

125,405

135,435

19,367

Shareholders’ equity:

Ordinary shares

4

4

1

Additional paid-in capital

14,181,030

14,260,014

2,039,155

Treasury stock

(51,176)

(59,969)

(8,575)

Accumulated deficit

(13,384,881)

(13,163,217)

(1,882,315)

Accumulated other comprehensive income

53,634

3,948

565

TOTAL SHAREHOLDERS’ EQUITY

798,611

1,040,780

148,831

TOTAL LIABILITIES, MEZZANINE EQUITY
  AND SHAREHOLDERS’ EQUITY

 

7,117,648

 

7,016,168

 

1,003,300

 

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,

2024

2025

2025

RMB

RMB

US$

(Unaudited)

Revenues:

Product revenues

5,822,527

6,164,574

881,522

Service revenues

82,495

78,010

11,155

Total revenues

5,905,022

6,242,584

892,677

Operating costs and expenses:

Cost of goods sold

(4,120,793)

(4,415,876)

(631,462)

Fulfillment expenses

(1,278,904)

(1,350,900)

(193,176)

Sales and marketing expenses

(137,513)

(136,662)

(19,542)

Product development expenses

(201,632)

(218,731)

(31,278)

General and administrative expenses

(109,195)

(130,303)

(18,633)

Total operating costs and expenses

(5,848,037)

(6,252,472)

(894,091)

Other operating income, net

4,534

21,873

3,128

Income from operations

61,519

11,985

1,714

Interest income

37,879

27,345

3,910

Interest expenses

(6,852)

(2,836)

(406)

Other income/(expenses), net

2,875

(913)

(131)

Income before income tax

95,421

35,581

5,087

Income tax expenses

(3,830)

(1,980)

(283)

Net income

91,591

33,601

4,804

Accretion of redeemable noncontrolling interests

(2,409)

(2,602)

(372)

Net income attributable to ordinary shareholders

89,182

30,999

4,432

 

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,

2024

2025

2025

RMB

RMB

US$

(Unaudited)

Net income per Class A and Class B ordinary share:

Basic

0.27

0.10

0.01

Diluted

0.26

0.09

0.01

Shares used in net income per Class A and Class B
  ordinary share computation:

Basic

324,500,919

324,832,508

324,832,508

Diluted

337,933,639

336,937,358

336,937,358

Other comprehensive loss, net of tax of nil:

Foreign currency translation adjustments

55,517

(23,784)

(3,401)

Comprehensive income

147,108

9,817

1,403

Accretion of redeemable noncontrolling interests

(2,409)

(2,602)

(372)

Comprehensive income attributable to ordinary
  shareholders

144,699

7,215

1,031

 

DINGDONG (CAYMAN) LIMITED 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands of RMB and US$)

For the three months ended

December 31,

2024

2025

2025

RMB

RMB

US$

(Unaudited)

Net cash generated from operating activities

190,878

204,469

29,239

Net cash (used in)/generated from investing activities

(158,850)

125,524

17,950

Net cash used in financing activities

(49,678)

(53,242)

(7,614)

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

3,425

(2,535)

(362)

Net (decrease)/increase in cash and cash equivalents
  and restricted cash

(14,225)

274,216

39,213

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

904,440

832,919

119,106

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

890,215

1,107,135

158,319

 

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,

2024

2025

2025

RMB

RMB

US$

(Unaudited)

Income from operations

61,519

11,985

1,714

Add: share-based compensation expenses (1)

25,073

17,157

2,454

Non-GAAP income from operations

86,592

29,142

4,168

Operating margin

1.1 %

0.2 %

0.2 %

Add: share-based compensation expenses

0.4 %

0.3 %

0.3 %

Non-GAAP operating margin

1.5 %

0.5 %

0.5 %

Net income

91,591

33,601

4,804

Add: share-based compensation expenses (1)

25,073

17,157

2,454

Non-GAAP net income

116,664

50,758

7,258

Net income margin

1.6 %

0.5 %

0.5 %

Add: share-based compensation expenses

0.4 %

0.3 %

0.3 %

Non-GAAP net income margin

2.0 %

0.8 %

0.8 %

Net income attributable to ordinary shareholders

89,182

30,999

4,432

Add: share-based compensation expenses (1)

25,073

17,157

2,454

Non-GAAP net income attributable to ordinary
  shareholders

114,255

48,156

6,886

Net income per Class A and Class B ordinary share:

Basic

0.27

0.10

0.01

Diluted

0.26

0.09

0.01

Add: share-based compensation expenses

Basic

0.08

0.05

0.01

Diluted

0.07

0.05

0.01

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

Basic

0.35

0.15

0.02

Diluted

0.33

0.14

0.02

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

For the three months ended

December 31,

2024

2025

2025

RMB

RMB

US$

(Unaudited)

Fulfillment expenses

4,148

2,416

345

Sales and marketing expenses

1,520

2,376

340

Product development expenses

12,468

5,746

822

General and administrative expenses

6,937

6,619

947

Total

25,073

17,157

2,454

   

Dingdong Announces Change in CEO

SHANGHAI, March 4, 2026 /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 the resignation of Mr. Changlin Liang as Chief Executive Officer of the Company and the appointment of Mr. Song Wang as the new Chief Executive Officer of the Company, concurrently with his resignation as Chief Financial Officer, effective March 4, 2026. Mr. Liang will continue to serve as Chairman of the Company’s Board of Directors (the “Board”).

As the founder of the Company, Mr. Liang has served as Chairman of the Board and Chief Executive Officer since the inception of the Company in May 2017. Mr. Liang commented, “At the founding of Dingdong in 2017, amid a crowded field of fresh food e‑commerce companies, we survived fierce competition by staying committed to product quality and service excellence. When confronted with the pandemic in 2020, Dingdong stepped up without hesitation and became a major force in securing daily supplies for the public. Following our listing in 2021, we adopted the strategy of “Efficiency First with due Consideration of Scale” to sustain consistent profitability and long‑term viability. All these milestones confirm that the only sustainable path forward is to steadfastly take on the difficult tasks, always put users at the heart, and do what is right for the business and society. Today, Dingdong’s sustained profitability and the formation of our core competitive moat—including superior product strength, beyond‑expectation service quality, and exceptional operational efficiency empowered by our end‑to‑end supply chain system—would not have been possible without the dedication of every Dingdong team member, the trust of our users, the commitment of our partners, and the support of all investors.”

The Board also congratulates Mr. Wang on his appointment as the new Chief Executive Officer, which follows the Board’s thorough evaluation and deliberation.

Mr. Song Wang has nearly four years of core management experience with the Company. Since joining the Company, he has held various key positions, including Senior Vice President and director of the Company since September 2023, Chief Financial Officer since December 2023, and Chairman of the Dingdong Guyu Business Group (responsible for the Company’s private label products’ development and standardization, quality control and supply chain integration) since May 2025. During January 2024 to December 2024, Mr. Wang had overall responsibility for the Company’s day-to-day operations and successfully led Dingdong to achieve growth in both scale and profitability, demonstrating a deep understanding of the fresh food retail industry and exceptional strategic execution capabilities. He has been deeply involved in the Company’s product development, end-to-end supply chain construction and financial strategic planning, and played a central role in driving significant improvements in key performance indicators.

The Board commented, “Mr. Wang has a comprehensive and in-depth understanding of the Company’s business and has demonstrated outstanding leadership in its financial management and business operations. We are confident that he is the ideal leader to steer Dingdong into its next phase of growth.”

Commenting on his appointment, Mr. Wang said: “Dingdong is committed to making quality fresh groceries as accessible as tap water for everyone. Going forward, I will work with the team to continue focusing on building differentiated product strengths, enhancing supply chain capabilities, and upholding our user-centric service philosophy. We will strive to achieve further breakthroughs in ensuring livelihood supply, improving operational efficiency, and exploring sustainable retail models, creating long-term value for consumers, shareholders and partners.”

The Board also approved the resignation of Mr. Song Wang from his position as Chief Financial Officer of the Company.

In addition, the Company also announced that Mr. Xu Jiang, Chief Technology Officer of the Company, has tendered his resignation due to personal reasons, by the end of March 2026. Mr. Jiang’s resignation is not the result of any dispute or disagreement with the Company or the Board of Directors, nor any matter relating to the Company’s operations, policies, or practices. The responsibilities previously overseen by the CTO role will be redistributed among existing members of the leadership team to ensure seamless continuity of the Company’s technology functions.

Mr. Liang added, “We sincerely appreciate Mr. Jiang’s outstanding leadership and remarkable achievements during his tenure. He led the Company to evolve into a fully digitalized, end-to-end fresh supply chain enterprise, and made tremendous contributions to infrastructure development, operational efficiency, technology architecture evolution, and supply chain restructuring.”

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.

Safe Harbor Statements

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.

Huawei Exceeds ITU Partner2Connect Pledge Target, Bringing Connectivity to 170 Million People Globally

BARCELONA, Spain, March 4, 2026 /PRNewswire/ — Huawei has provided digital connectivity to 170 million people in remote areas across more than 80 countries, surpassing its pledge to the International Telecommunication Union (ITU) Partner2Connect (P2C) Digital Coalition.

Yang Chaobin, CEO of Huawei ICT BG announces the fulfillment of ITU P2C Pledge
Yang Chaobin, CEO of Huawei ICT BG announces the fulfillment of ITU P2C Pledge

The announcement was made by Yang Chaobin, CEO of Huawei ICT BG, at the company’s TECH Cares Forum in Barcelona. He noted that this achievement exceeds the commitment Huawei made when joining the ITU P2C Digital Coalition in 2022: to connect 120 million people in remote areas by 2025. Yang extended his gratitude to Huawei’s telecom customers and partners for their collaborative efforts.

The forum brought together around 80 guests from governments, industries, partner organizations, and international bodies. Participants engaged in in-depth discussions on the urgent need to advance digital inclusion in the AI era, exploring practical solutions and building consensus for multi-stakeholder collaboration.

In his opening speech, Yang pointed out that despite rapid AI advancements, the digital divide persists and risks widening further. “High-speed digital networks and robust computing capabilities are essential foundations for an inclusive and sustainable AI era,” he said. The fulfillment of the ITU P2C pledge, he added, reflects Huawei’s ongoing commitment to innovation — bringing remote communities improved access to healthcare, education, and financial services through digital connectivity.

Cosmas Zavazava, Director of the ITU Telecommunication Development Bureau, commended Huawei’s achievements and work to bridge the digital divide. “Connecting the rural and underserved communities requires innovative business models, inclusivity and the effective use of communication resources as well as community engagement, and sustained investment in local capacity. I applaud Huawei’s commitment to universal and meaningful connectivity and I am proud of our strong and successful partnership.”

According to Jeff Wang, President of Huawei Public Affairs and Communications, digital inclusion rests on two pillars: inclusive connectivity and digital skills empowerment. To address the digital skills gap, Huawei partners with governments and organizations to support students, youth, the elderly, and women through three initiatives: expanding digital access, offering digital skills training, and developing STEM curricula.

Since its launch in 2019, Huawei’s Skills on Wheels program has brought mobile digital training to over 130,000 people in 21 countries, opening new opportunities for underserved communities.

Marina Madale, Executive of Sustainability and Shared Value at MTN Group, asserts that connectivity is not a privilege, it is foundational infrastructure for Africa’s growth. In alignment with Jeff Wang, she noted that MTN is prioritizing expanding rural connectivity, driving device affordability and building digital and AI-ready skills.

In rural network innovation, Huawei has continuously upgraded its Rural Series solutions since 2017 to improve affordability and deployment efficiency. Launched in November 2025, Huawei RuralCow extends coverage to villages of around 1,500 residents with the support from MTN Nigeria. These solutions have helped achieve the target of connecting 170 million people while boosting local economies and enabling wider access to digital public services.

During the forum, guests shared progress from their collaboration with Huawei and expressed willingness to deepen cooperation. All participants agreed that advancing digital inclusion in the AI era requires joint efforts from governments, operators, international organizations, and enterprises.

Going forward, Huawei will continue to drive innovation in rural network technologies, deepen open collaboration, and accelerate digital skills empowerment. Through concrete actions, the company will keep contributing to a more equitable and sustainable digital world.

 

Spring Into Action with VEVOR: Upgrade Every Corner of Your Home

NEW YORK, March 4, 2026 /PRNewswire/ — Spring isn’t just a season—it’s a chance to hit the reset button on your home and your life. After months of winter, dust and clutter often settle into every corner, from hidden nooks to worn fixtures. This season, refreshing your space isn’t just a clean-up—it’s a deep breath for your home and your mind, a chance to bring energy, clarity, and inspiration back into your everyday life.

VEVOR’s Spring campaign is built for doers. For the first time, professional-grade performance is no longer reserved for professionals—VEVOR makes it accessible to every Home Creator, at a price that doesn’t hold you back. Whether you’re refreshing your entire home, breathing new life into your garden, or upgrading your garage, our solutions are designed to spark your creativity and make every home improvement project feel effortless, satisfying, and fun.

Every Detail Matters: Bring Precision into Your Home

A fresh coat of paint, a neatly installed pipe—small changes can completely transform a room. But real quality shows up in the details you don’t notice: leak-proof connections, securely fastened fittings, and flawlessly smooth finishes. This spring, bring pro-level precision into your home and let every project elevate both your space and your confidence.

And all of this can be effortlessly achieved with VEVOR’s professional tools:

  • VEVOR Airless Paint Sprayer: Spray walls, fences, and decks up to 12 times faster than a brush, with smooth, flawless coverage every time. Its precise nozzles and anti-clog design keep your projects clean, fast, and satisfying.

VEVOR Airless Paint Sprayer
VEVOR Airless Paint Sprayer

  • VEVOR Electric Pipe Crimper: Install or repair pipes in seconds, even in tight or awkward spots. With a 360° rotating jaw and a clear display, every crimp feels precise and professional—without the stress.

For many first-time renovators, the biggest surprise isn’t just the speed—it’s how controlled the process feels from start to finish.

 “I thought repainting the guest room would take all weekend. Finished the walls in a few hours and didn’t have to go back over uneven spots. It actually looks professionally done.”

— Verified Purchase, Amazon Review

Breathe Life Back into Your Garden

Your garden should be your sanctuary—but winter’s leaves, dust, and debris can steal the calm. With the right tools, cleaning becomes effortless, like giving your yard a deep, refreshing breath. Watch your outdoor space come alive, and feel the freedom and joy of a garden finally under control.

Here are the tools that make that fresh start feel effortless:

  • VEVOR Push Lawn Sweeper: Four reinforced brushes gently lift and sweep leaves and grass in a single pass, collecting debris without stressing or damaging healthy turf. Adjustable heights tackle any terrain, and the large 7 cu. ft. bag means fewer stops and faster results—turning yard work into a breeze.

VEVOR Push Lawn Sweeper
VEVOR Push Lawn Sweeper

  • VEVOR Walk-Behind Floor Sweeper: Cover wide paths in a single pass—five times faster than a broom. The 5-gallon container, foldable handle, and smooth maneuvering make cleaning patios, driveways, and garages fast, easy, and even fun.

As one homeowner shared after early-season cleanup,

“Used it after a windy week and it picked up the leaves without tearing up the grass. Way easier on my back than raking.”

Garage Makeover: Unlock Your Creative Workshop

Spring cleaning doesn’t stop at the front door—your garage needs a reset too. After a long winter of stored gear and vehicles, now’s the time to organize tools, check your equipment, and prep your garage so your car and outdoor gear are ready for every spring adventure.

With the right setup, transforming your garage is simpler than you think:

  • VEVOR Mechanics Tool Set: With 450 pieces covering SAE and metric sizes, this all-in-one kit has everything you need for home repairs, DIY projects, and vehicle maintenance. From sockets and wrenches to hex keys and bits, each piece is crafted for durability and reliability.
  • VEVOR Retractable Air Hose Reel: 50 feet of flexible, high-pressure hose with smooth auto-retract keeps your workspace clutter-free. Sturdy mounting options turn any garage into a tidy, professional-level workshop.

“The hardest part of fixing anything isn’t the fixing—it’s getting started. I used to waste time hunting for the right socket and fighting with the air hose before I even touched the repair. Once everything’s organized and easy to grab, the whole job just flows.”

— Weekend DIYer

Every home, garden, and garage has untapped potential—this spring, it’s time to bring it to life. VEVOR’s Spring campaign puts professional-grade performance within reach, empowering every Home Creator to achieve impressive results without the hefty price.

Don’t wait—roll up your sleeves, dive in, and watch your space transform with energy, style, and confidence.

Visit www.vevor.com, VEVOR Amazon to start your spring refresh today.

About VEVOR

VEVOR is a global home improvement brand that empowers home creators, who actively reshape living spaces to express their inner pursuits, finding joy in turning visions into reality with their own hands to upgrade spaces with pro-level gear at fair prices. From backyard makeovers to apartment innovations, VEVOR delivers uncompromised quality through vertical integration — combining precision engineering with the joy of making.

Founded in 2007 as an eBay seller, VEVOR began selling on Amazon in 2013 and launched vevor.com in 2020. The brand unveiled its refreshed identity in 2025. Today, VEVOR operates in over 50 countries, with a network of 200+ global warehouses and a catalog of over 15,000 products spanning tools, outdoor equipment, and home improvement solutions.

The brand’s promise is built on four pillars: professional-grade performance, unexpected value, complete home ecosystem coverage, and uncompromising quality. This commitment is reflected in its 90% customer satisfaction rate, supported by 24/7 assistance and a 30-day hassle-free return policy.

For more information, visit www.vevor.com or search “vevor” on Amazon.

CONTACT: 
Qi Feng
qi.feng@vevor.net

PENFOLDS APPOINTS TROYE SIVAN AS CREATIVE PARTNER

Unveiling a limited-edition Bin 389 collaboration during Paris Fashion Week

PARIS, March 4, 2026 /PRNewswire/ — Today, Penfolds announced Troye Sivan as its new Creative Partner. The landmark multi-year collaboration will see the cultural phenomena lead the brand into new creative territories, celebrating shared experience.

Troye conveyed his excitement about the collaboration: “This partnership with Penfolds is a dream creative dialogue for me. Penfolds and I share a passion for culture and creating moments that matter. Together, we aspire to produce catalysts for connection.”

Penfolds Chief Marketing Officer, Kristy Keyte, also spoke to the partnership: “Troye Sivan is a visionary, whose influence spans music, fashion and design – and now, wine. He embodies many values close to Penfolds heart, like curiosity and creativity. Troye is a trusted partner who is propelling Penfolds beyond where we would go on our own, opening new pathways for us to bring people together and create never-forgotten memories.”

Troye Sivan celebrated the announcement by hosting an intimate dinner during Paris Fashion Week. Joined by a close circle of friends and creators, Troye unveiled his first collaboration, limited-edition Penfolds Bin 389 Cabernet Sauvignon Shiraz designs.

Bin 389 Designed by Troye Sivan comprises two offerings: a limited-edition 750ml gift box (RRP AUD $120.00) and a 1.5L magnum art piece (price on expression of interest), both showcasing wine from the 2023 vintage. Each 750ml bottle is carefully hand wrapped in tissue paper printed with one of twenty images selected from Troye’s personal camera roll – each image is a moment of inspiration and connection to be collected and treasured. The magnum edition, handcrafted by South Korean artist Rahee Yoon, is limited to just 20 pieces, making it an exceptionally rare collector’s item, available by expression of interest only.

The striking translucent red-and-white designs evoke warmth and nostalgia. The wine itself – a benchmark of Penfolds excellence; one of Australia’s most cellared wines and a favourite amongst collectors worldwide – reflects Troye’s expressive, approachable character and casual elegance. 

Troye Sivan follows in the footsteps of Penfolds first Creative Partner, NIGO, founder of Human Made and Artistic Director of Kenzo. Penfolds Creative Partners are globally celebrated cultural trailblazers who defy convention, merging authenticity and innovation to reshape the boundaries of creativity.

Bin 389 Designed by Troye Sivan is available globally from March 2026 via luxury retail, global travel and direct-to-consumer channels. Further collaborations between Penfolds and Troye Sivan will be announced throughout 2026. Visit www.penfolds.com for more information.

Penfolds Bin 389 Designed by Troye Sivan Magnum
Penfolds Bin 389 Designed by Troye Sivan Magnum

Penfolds Bin 389 Designed by Troye Sivan 750ml
Penfolds Bin 389 Designed by Troye Sivan 750ml