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Sunday, February 16, 2025

Tea shop gutted in...

A tea shop located on the Tiruchengode New Bus Stand road was...

Bank Of Maharashtra Gets...

New Delhi: Government-owned Bank of Maharashtra announced on Sunday that it has...

Asking Eric: Movement disorder...

Dear Eric: I am a young adult with a movement disorder similar...

Elon Musk takes break...

Elon Musk is taking a break from X having broken his silence after a...
HomeChinaDingdong Maicai witnesses...

Dingdong Maicai witnesses nearly 30% Q2 revenue decline amid cutbacks in loss-incurring regions · TechNode


Chinese grocery platform Dingdong Maicai’s revenue decreased by 27% year-on-year to RMB 4.8 billion ($667.6 million) in the second quarter, while non-GAAP net income reached RMB 7.5 million, the Shanghai-based company announced on Sept. 1. Dingdong has posted a profit for three consecutive quarters under the non-GAAP standard, with a senior vice president expressing the firm’s confidence in achieving non-GAAP profitability for the full year 2023 in the earnings report. The company meanwhile saw its costs of goods sold drop 26.4% from a year earlier to RMB 3.34 billion during the period. Downsizing operations in loss-making regions is the main way for Dingdong to maintain profitability in a highly competitive industry, with the company exiting from Southwest China in Chongqing and Chengdu city this May, redirecting its focus primarily to the Eastern China region where it has managed to achieve three consecutive quarters of stable profit. [Dingdong Maicai]

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Tea shop gutted in LPG cylinder explosion in Namakkal

A tea shop located on the Tiruchengode New Bus Stand road was gutted in an LPG cylinder explosion on Sunday morning. The shop was run by Kavikannan (35) of Kandampalayam near Tiruchengode. Firefighters rushed to the spot and...

Bank Of Maharashtra Gets RBI Go-Ahead To Set Up Branch In GIFT City

New Delhi: Government-owned Bank of Maharashtra announced on Sunday that it has received the RBI's approval to set up an International Financial Services Centre (IFSC) Banking Unit at GIFT City in Gujarat. The branch will be the Bank...

Asking Eric: Movement disorder may give strangers the wrong idea

Dear Eric: I am a young adult with a movement disorder similar to Parkinson’s. It causes uncontrollable, violent, jerky, muscle movements, called dyskinesias, in nearly every part of my body. These dyskinesias resemble the effects of illicit substances...