Shanghai-based grocery corporate Dingdong Maicai on Thursday reported a 19.5% shed in fourth-quarter earnings in large part because of its retreat from a number of towns in pursuit of benefit. A 5th immediately quarter of non-GAAP profitability was once recorded right through the length, totaling RMB 16.3 million, however the company’s internet loss noticed a leap to RMB 4.4 million, contrasting with a internet source of revenue of RMB 2.1 million within the earlier quarter. “This year’s results already show that we are close to surviving, Dingdong currently stands out as the only profitable company among the industry’s top players,” govt Liang Changlin mentioned at the corresponding profits name. The corporate’s earnings stands at RMB 4.99 billion for the 3 months ended December, in step with the profits file. [Dingdong Maicai]
