Dingdong (Cayman) Ltd ADR

Good morning and good evening, ladies and gentlemen. Thank you for standing by, and welcome to the Ding Dong Limited Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please note this event is being recorded. I would now like to turn the conference over to the first speaker today, Nicky Zhang, Director of Investor Relations. Please go ahead, sir.

Thank you. Hello, everyone, and welcome to Ding Dong's second quarter 2024 earnings call. With me today are Mr. Changlin Liang, our founder and CEO, and Mr. Song Wang, our CFO. You can refer to our second quarter 2024 financial results on our IR website at IR100ME. You can also access a replay of this call on our IR website when it becomes available a few hours after its conclusion. For today's call, management will go through their prepared remarks, which will be followed by a question and answer session. Before we continue, I would like to refer you to our safe harbor statement in our earnings press release, which also applies to this call. As we will be making forward-looking statements Please note that all numbers stated in the following management prepared remarks are in RMB terms, and we will discuss non-GAAP measures today, which are more thoroughly explained and reconciled to the most comparable measures reported in our release and the filings with the SEC. I will now turn the call to our first speaker today, the founder and the CEO of Ding Dong, Mr. Liang.

Thank you, investors, analysts, and friends of Dingdong Grocery. Welcome to the Q2 financial report analysis of Dingdong Grocery in 2024. As of Q2 2024, Dingdong Grocery has achieved a profit under the standard of Long Gap for seven consecutive seasons. And after Q1 this year, it has again achieved a profit under the Gap framework. Especially since Q1 this year, Hi everyone, thank you for joining Dingdong's Q2 2024 earnings call. As of Q2 2024, Dingdong has achieved profitability for seven consecutive quarters