Dingdong Pulls Further Away From Old Opponent, But Profits Remain Far Off

Online grocery giant left its top rival Missfresh in the dust in terms of third-quarter revenue, but its losses keep growing as it pursues more customers Key points: Dingdong’s revenue doubled in the third quarter, but its loss grew even faster by 1.4 times as it become trapped in a cycle of ‘greater losses with more income’ The company’s management admitted returns on investment are still a long way off By Jony Ho Multiple Covid-19 outbreaks have made Chinese consumers increasingly accustomed to buying groceries online. The race for supremacy…

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