Dingdong (Cayman) Ltd. Sponsored ADR Class A (DDL.US) announces a $20 million stock repurchase plan.

On March 6th, Dingdong (Cayman) Ltd. Sponsored ADR Class A (DDL.US) announced that its board of directors has authorized a share repurchase plan. According to the plan, the company may repurchase up to $20 million worth of shares before March 5, 2026. The company can begin implementing the one-year share repurchase plan from the announcement of its financial results for the fourth quarter of 2024 until March 5, 2026. It is worth mentioning that this repurchase plan comes after another repurchase plan announced on January 29, 2024. The company stated that it expects to fund the repurchase from its existing cash reserves, confident in the strong cash position and cash flow, as well as the current stable operational situation. Dingdong (Cayman) Ltd. Sponsored ADR Class A released its latest financial report on March 6th, achieving profit for nine consecutive quarters under the Non-GAAP standard and four consecutive quarters under the GAAP standard, with revenue increasing year-over-year for four consecutive quarters. In 2024, the company achieved full-year profitability on the basis of a year-over-year GMV growth of over 16%, with impressive performance in multiple core operating data. Some analysts believe that this new repurchase plan reflects Dingdong (Cayman) Ltd. Sponsored ADR Class A's firm confidence in its business development and future prospects.