Dingdong (Cayman) Ltd ADR

Good day and welcome to the Ding Dong Limited second quarter 2025 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. And to withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Nicky Ving, Director of Investor Relations. Please go ahead.

Thank you. Hello, everyone. Welcome to Dingdong Second Quarter 2025 earnings call. With me today, I'm Mr. Changlin Liang, our founder and CEO, and Mr. Song Wang, our CFO. You can refer to our Second Quarter 2025 financial results on our IR website at ir.100me. You can also access a replay of this call on our IR websites 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 your 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 thoroughly explained and reconciled to the most comparable measures reported in our earnings press release and the filings with the SEC. I will now turn the call to our first speaker today, the founder and the CEO of Dingdong, Mr. Liang.

Thank you to all the analysts and all the partners who accompanied Dingdong along the way online and offline. Thank you to everyone who participated in the second quarter of the Dingdong Market in 2025. As of Q2 of 2025, e-commerce has achieved a profit of 11 consecutive seasons under the non-GAAP standard, and has also achieved a profit under the GAAP standard for six consecutive seasons. In terms of income, it has achieved the same growth for six consecutive seasons. The continued steady growth in scale and profit-to-profit line not only shows us that we have solved the problem of survival and death, but also proved that the team's resilience and execution ability. Because the next stage of higher growth will set a solid foundation. Next, I will first use data to review the business highlights of Q2, and then share the progress of our good users, good products, good service, and good quality 4G strategies, and introduce our new growth points in business, as well as some business dynamics about AI.