Dingdong Q1 2026 Financial Results with China Business Sale to Meituan

Dingdong (Cayman) Limited reported its first quarter 2026 financial results, showing continued growth and profitability. Total revenues increased 7.5% year-over-year to RMB5,892.7 million (US$854.3 million), with GMV growing 6.3% to RMB6,333.3 million. The company achieved its ninth consecutive quarter of GAAP profitability with net income of RMB165.4 million and fourteenth consecutive quarter of non-GAAP profitability at RMB172.0 million. A key development is the pending sale of Dingdong's China business to Meituan, announced on February 5, 2026, which has not yet closed but requires the China business to be classified as discontinued operations under US GAAP. This classification resulted in an approximate RMB138 million increase in net income due to cessation of depreciation/amortization on held-for-sale assets. The company plans to use most proceeds from the sale for share repurchases and/or dividends upon transaction completion.