Tag Archives: FOD

PR Newswire

KEENON Robotics Introduces Autonomous Service Robot DINERBOT T9 to Buffet Brand QooQoo in South Korea

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SEOUL, South Korea, April 30, 2024 /PRNewswire/ — KEENON Robotics, a leading global robotic service provider, recently announced the successful introduction of the KEENON DINERBOT T9 in collaboration with partner EVERYBOT, a domestic AI service robot specialist, to one of Korea’s leading sushi buffet franchises, QooQoo.

DINERBOT T9 at QooQoo
DINERBOT T9 at QooQoo

This collaboration demonstrates KEENON’s recognized technological prowess in the Korean market, strategically aligning with the trend of enhancing efficiency and service in the Korean food service industry. The introduction is expected to optimize restaurant efficiency while providing customers with more convenient service experiences.

The DINERBOT T9, implemented at QooQoo, enhances the dining experience with its swift response capabilities, efficiently minimizing customer waiting times and optimizing service quality. By efficiently managing tasks such as plate and tableware retrieval and bussing, the robot allows staff to concentrate on providing exceptional service.


With a load capacity of 40kg, the DINERBOT T9 efficiently handles meal delivery during peak restaurant hours. Its self-developed and fully autonomous navigation system enables it to maneuver through complex environments, calculate optimal routes in real-time, and ensure safe service by avoiding obstacles.

Furthermore, the DINERBOT T9 features an intelligent operation interface and voice system, allowing customers to use it with ease. Notably, in collaboration with EVERYBOT, the KEENON robots are localized and optimized for the Korean market, showcasing adaptability through technological innovation and tailored intelligent solutions.

Founded in 2010, KEENON Robotics is a globally renowned leading provider of service robotics, offering a comprehensive range of service robots and integrated solutions. With overseas locations in key international hubs such as the United States, Germany, the United Arab Emirates, Japan, and Hong Kong S.A.R., KEENON extends its presence to over 600 cities and regions in 60 countries worldwide.

The Korean market stands out as one of the primary countries emphasized by KEENON, prompting the establishment of a dedicated Korean subsidiary, located in Seoul, to broaden its customer reach. KEENON has further customized its offerings to address the specific requirements of the local market, thoroughly comprehending the diverse needs across industries and delivering tailored, efficient, and reliable robot solutions for businesses. These efforts have solidified KEENON’s reputation as a leading company in the field of service robots within the Korean market.

KEENON Robotics remains dedicated to introducing a diverse range of robot products to the Korean market, empowering and enhancing various fields and applications, including cleaning, medical, industrial, and beyond. As KEENON continues to explore these intelligent applications and business models, the commitment remains strong to deliver smarter, more convenient, and efficient service experiences to more Korean consumers.

PR Newswire

PETLIBRO Introduces the One RFID Pet Feeder for Personalized Pet Meals

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Harnessing innovative RFID pet recognition technology, PETLIBRO’s latest smart feeder relieves mealtime stress in multi-pet households.

SAN JOSE, Calif., Jan. 25, 2024 /PRNewswire/ — PETLIBRO, a leading US smart pet supply brand, has unveiled the latest addition to its innovative product line – the One RFID Pet Feeder. The state-of-the-art pet feeder, equipped with radio frequency identification (RFID) pet recognition technology, sets a new standard for managing individual needs in multi-pet households.

PETLIBRO’s latest feeder uses RFID pet recognition technology to accurately identify a designated pet before feeding
PETLIBRO’s latest feeder uses RFID pet recognition technology to accurately identify a designated pet before feeding

“We aim to give the most personal feeding experience to each pet,” said York Wu, Founder and CEO of PETLIBRO. “We know the dinner rush in a multi-pet home can be a stressful experience when there are specific diets, unique personalities, and eating habits to consider. We want to help make these daily moments easier for pets and their people.”

Pet Identification with RFID Technology

The One RFID Pet Feeder confirms a pet’s identity through an RFID tag that’s placed on their collar, before opening the food bowl lid for food to be served. This ensures individual pets receive the right nutrition at the right time, and addresses prevalent challenges common in multi-pet households, including food theft, food aggression, weight management, and the need to separate prescription food.

Monitor Eating Habits for Peace of Mind

With a lifetime log that records the time and frequency of meals, pet parents have full visibility of how much food their pets consume. In the dedicated PETLIBRO app, this mealtime data can be filtered by days, weeks, or months, and generate useful insights for a better understanding of a pet’s eating habits. This may also raise awareness towards abnormal pet eating patterns for earlier intervention.

Customizable Portions and Convenient Scheduling

With the ability to schedule up to 10 meals per day, pet owners can easily adjust feeding schedules according to their pets’ needs. Each meal can be adjusted according to the number of portions pet owners choose (1/8 cup per meal), ensuring precise and tailored feeding for each pet. 

Enhancing Personality and Safety

With the PETLIBRO app, pet parents can sync their pet’s name to the One RFID Pet Feeder’s LED display, illuminating the room with their pet’s presence. In addition, the dedicated collar also features a QR code with the pet’s information and owner’s contact information, making it easier for pets to reunite with their owners if they get lost.

Priced at $149.99 with the inclusion of one collar tag, the One RFID Feeder is available at PETLIBRO’s official website and Amazon.

About PETLIBRO

Since 2019, PETLIBRO has helped over a million families enrich the lives of their cherished companions with premium pet tech products, growing into one of the best-selling smart pet supply brands globally. These innovative products are designed with a clear focus on simplifying pet care and enhancing the bond between pet owners and their beloved companions. By prioritizing the needs of pets and their people, they offer ideal solutions that are advanced and easy to use. Please visit www.petlibro.com for more information.

PR Newswire

Pocket PangPang, Korea’s new concept shopping platform, has launched in Thailand

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Officially launched a 200 Baht single-price mobile shopping mall service in Thailand

SEOUL, South Korea, Dec. 29, 2023 /PRNewswire/ — Pocket PangPang, Korea’s single-price mobile shopping platform, officially began its service in Thailand in December 2023.


Millions of individuals in Korea currently utilize single-price mobile shopping.

Pocket PangPang is a new kind of mobile shopping mall that took the grand prize in the 2023 Korea Consumer Satisfaction Index Awards among single-price shopping malls in Korea. Thanks to popular demand, Pocket PangPang app has already established itself as a prominent entertainment retail and app tech platform in Korea.

HONEST TRADING (CEO Jeslyn Sooin Kim), a logistics distribution company based in Bangkok, Thailand, and BUDA Co., Ltd., a Korean Pocket PangPang operator, collaborated to launch Pocket PangPang in Thailand.

Pocket PangPang automatically matches a customer with one product from a selection of food, household items, cosmetics, smartphones, and luxury designer goods for a single price of 200 Baht. All items sold at Pocket PangPang have a retail price of 200 Baht or more, and customers can instantly check what they have purchased. This is what sets Pocket PangPang apart from Mystery Box. If the customer does not like or need the matched product, it may be returned in the form of app points, swapped.

Pocket PangPang announced that it would continue to update diverse goods and brand items, as well as host events for Thai users. To celebrate the release in Thailand, Pocket PangPang is presently hosting an event in which all users who sign up for Pocket PangPang will get free points to buy product boxes.

Pocket PangPang is available for download from the Google Play Store and the Apple App Store.

PR Newswire

CIIE leads global development to new, bright prospects

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BEIJING, Nov. 5, 2023 /PRNewswire/ — A report from People’s Daily: The sixth China International Import Expo (CIIE) will be held at the National Exhibition and Convention Center (Shanghai) from Nov. 5 to 10.

The CIIE, a pioneering event in the history of international trade development, has become a showcase of China’s new development pattern, a platform for high-level opening-up, and a public good shared by the whole world.

This year’s CIIE fully resumes offline activities, and is expected to welcome guests from 154 countries, regions, and international organizations. So far, 69 countries and three international organizations have confirmed their participation in the Country Exhibition. Over 3,400 exhibitors and nearly 410,000 professional visitors have registered for the event, with a record number of Global Fortune 500 companies and industry leaders in attendance.

Since the first CIIE, many participating companies have expressed similar sentiments, speaking of the tremendous appeal of the event. Some said they would bring their best and latest products to the event, and some promised to introduce their countries’ specialties. For them, the CIIE brings not just orders, but also the future and hopes.

The achievements of the past five editions of the CIIE have been remarkable: 131 countries and international organizations participated in the Country Exhibition; over 15,000 exhibitors joined the Business Exhibition; the cumulative number of registered visitors exceeded 2 million; the cumulative intended turnover amounted to $350 billion.

The CIIE not only attracts multinational companies, but also gathers upstream and downstream enterprises, providing opportunities for cooperation for various industries to reorganize and optimize themselves on a global scale. Many exhibitors said that at the CIIE, they can deepen exchanges with companies and partners in the same industry or even across industries, and discuss cooperation prospects together.

The previous five sessions of the CIIE have seen debuts of around 2,000 new and innovative products, technologies and services, including intelligent mobile hospitals, hydrogen-fueled concept cars, direct-injection digital printers, and vertical farms. It has become an incubator for technological innovation with global impact.

The CIIE also provides free standard booths and fee reduction measures for the least developed countries. It has been joined by enterprises from 43 least developed countries in the previous five sessions.

With the help of the CIIE, products such as coffee from Timor-Leste, pine nuts from Afghanistan, and cashews from Cambodia have achieved unprecedented sales in the Chinese market.

The “CIIE effect” continues to amplify. The Hongqiao Import Commodity Exhibition and Trading Center provides a permanent exhibition and sales platform for small and medium-sized enterprises participating in the CIIE. Since the first CIIE, Shanghai has recognized a total of 60 “6+365” trading platforms and introduced nearly 270,000 types of exhibits, with a cumulative import value of over 323 billion yuan ($44.22 billion).

German multinational glass company Schott AG said the CIIE presents a vivid and lively representation of the entire Chinese market. The company participated in the first CIIE with a “give it a try” attitude. From then on, it attended the expo every year, increased its investment and even established new factories in China.

The head of Schott China stated that with the expo, the company has achieved unparalleled growth, and continuing to invest in the Chinese market is a strategic choice for the future.

Thanks to the CIIE, exhibits have turned into commodities and exhibitors have become investors. An increasing number of multinational corporations are deeply integrated into China’s industrial and innovation networks.

Since the beginning of this year, multinational companies have continued to increase investment and expand production in China, with projects progressing at a faster pace. Global refrigeration industry giant Danfoss has put into operation a global refrigeration R&D testing center, German chemical giant BASF’s integrated base has started construction on its syngas facility in Zhanjiang, south China’s Guangdong province, and Airbus has begun construction on its second final assembly line for the A320 series aircraft in Tianjin.

In the first nine months of this year, China has established 37,814 new foreign-invested enterprises, with a year-on-year increase of 32.4 percent.

The CIIE mirrors the resilience and vitality of the Chinese economy, to deepen reform and pursue high-quality development through greater openness.

For some time now, the global economic recovery has faced headwinds, but China has withstood the pressures and continued its rebound, with its economic growth among the highest in major economies worldwide.

China is steadfastly pushing for higher-level opening up, and actively expanding imports. It has remained the world’s second-largest import market for 14 consecutive years. With a population of over 1.4 billion and a middle-income group of over 400 million people, China constitutes the world’s second-largest consumer market and the largest online retail market.

Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai, noted that many companies with global markets need to achieve economies of scale, and if they don’t come to China, they won’t be able to reach the economic scale needed to maintain global competitiveness.

Chinese President Xi Jinping said that opening up is the hallmark of contemporary China. In his keynote speeches and addresses delivered at the previous five sessions of the CIIE, the word “openness” was mentioned over 100 times. The measures he announced at the CIIE to expand opening up have been gradually implemented, effectively promoting new progress in high-level opening-up.

China has established the Lingang new area of the China (Shanghai) Pilot Free Trade Zone, implemented an integrated development strategy in the Yangtze River Delta region, released an overall plan for the construction of the Hainan Free Trade Port, further expanded reform and opening up in Shenzhen, continuously improved business environment, and strengthened intellectual property protection.

China has deepened reform by opening up, and conversely, pursued deeper reforms to enable greater openness. This benefits not only China’s own development but also the world.

The CIIE belongs not just to China, but to the world. Looking ahead, China is willing to work together with all countries to practice true multilateralism, build a greater consensus of openness, jointly overcome the difficulties and challenges facing global economic development, and usher in a brighter future for development worldwide through opening up.

PR Newswire

Blue Bay sets sights on the global high-end pet food market

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Blue Bay is a Taiwanese pet food brand and famous for using local and natural ingredients and focusing on functionality

NEW TAIPEI CITY, Oct. 13, 2023 /PRNewswire/ — The farming industry in Taiwan is flourishing, particularly in small-scale farming. These farmers have the freedom to choose the way of cultivation methods, such as organic and pesticide-free, which aligns with Blue Bay’s priority when selecting ingredients. Blue Bay has captured the hearts of consumers here in Taiwan, it’s distinguished by its use of natural, reliable, healthy ingredients, and the palatability of its pet food. These ingredients meet human-graded standards, including organic eggs, fruits, vegetables, and superfoods, offering different functions and nutrients needed for a pet’s daily diet. Supply them from the basics to reduce the chances of nutritional imbalance that can lead to illness.

Blue Bay is dedicated to producing pet food and supplements for our beloved pets. We strictly select the farms to collaborate from across Taiwan. Not only giving healthy food but also making the pet owner happy, it extends support towards the development of local agriculture, livestock, and the pet industry. In the current era dominated by sustainability concerns, including environmental, social, and governance issues, Blue Bay is proud to say that Taiwan’s pet food brands are leading the way, prioritizing the well-being of pets and industry growth, creating a win-win situation for all.

Given the changes in population and lifestyle, pet ownership has steadily increased in recent years. As traditional extended families give way to smaller households, and in some cases, pets take the place of children. As a result, people are more concerned about the health and well-being of their pet’s diet, even the nutrition intake for their pets.

One of the features of Blue Bay is functional pet food. Since the first pack of hypoallergenic was introduced in 2006, Blue Bay has been using local Taiwanese ingredients. The products are free from corn, soybean, and wheat, emphasizing sensitive skin dog food. However, the product line has expanded beyond skin care but also for cardiovascular and joint health. Blue Bay is committed to providing quality pet food for all pet owners, featuring healthy and nutritious food with premium protein sources, like meat and fish, organic cold-pressed virgin coconut oil, probiotics, and mineral zinc, all of which adhere to AAFCO standards.

Beyond pet food, Blue Bay has developed a variety of supplements, with one of their most popular supplements, Richer Coat, which boosts skin and coat health. Collaborating with the nutritionist team, Blue Bay used fresh, natural ingredients, like softshell turtle eggs, which are one of the premium sources of protein and lecithin. Blue Bay also added zinc to boost the regrowth of cells and biotin for a better metabolism, giving the skin and coat better protection. Blue Bay did not just stop here, they have developed supplements for various care, from eyes to joints. The goal of Blue Bay is to bring natural, reliable, and premium pet food and supplements to the global  market.

Curious about the health benefits of Blue Bay products? Now on Amazon, you can purchase its highly-rated hair health nutritional supplement, Richer Coat, available in three sizes. Hurry and take it home to try out its amazing hair growth effects!

Source: Yin Bao Pet Health Enterprise Co.,Ltd.

PR Newswire

Innovations in sustainable food production and decarbonisation initiatives to headline 2023’s Singapore International Agri-Food Week

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SINGAPORE, Sept. 26, 2023 /PRNewswire/ — Singapore International Agri-Food Week (SIAW) returns for its third edition from 30 October to 2 November to showcase the latest innovations in sustainable food production in the region’s agri-food industry. It will also spotlight decarbonisation initiatives to support companies in their transition to net zero emissions.

Held at Sands Expo & Convention Centre, SIAW is a focused platform for knowledge exchange, opportunities exploration, networking, and collaboration to bolster food security and strengthen supply chains for the region. The event is hosted by global investment leader Temasek and co-hosted by the Singapore Food Agency, in partnership with Economic Development Board, Enterprise Singapore, Singapore Tourism Board, Agency for Science, Technology and Research and event organisers, Constellar and Rethink Events. SIAW 2023 expects an estimated 15,000 attendees this year.

SIAW will open with a by-invite-only Roundtable on Novel Food Regulations, hosted by the Singapore Food Agency. Key events include the thought leadership focused Asia-Pacific Agri-Food Innovation Summit; the region’s only focused exhibition platform Agri-Food Tech Expo Asia (AFTEA); and the Global Agri-Food Scientific Symposium to catalyse scientific advancement. More details on the individual events can be found in the Annex.

Focusing on accelerating the transition to a climate-smart food system, notable speakers for the Summit include Sunny Verghese, Executive Director, Co-Founder and Group CEO of OLAM; Joseph Taets, Senior Vice President and President of APAC, ADM; Yanjing Wang, VP R&D AMEA, KELLOGG; Simone Barg, Senior VP, Agricultural Solutions Asia Pacific, BASF; David Chen, CEO, EQUILIBRIUM; Beverley Postma, Executive Director, GROW ASIA; Corine Tap, Regional President Asia, FRIESLAND CAMPINA; Marie Cheong, Founding Partner, WAVEMAKER IMPACT and Frantz Braha, Chief Growth Officer, SALADSTOP! Group.

AFTEA will see a gathering of innovators from countries such as Singapore, China, France, Germany, Israel, Netherlands, the United Kingdom and many more, who will be showcasing their innovations and developments in the agri-tech space. These include Aerosprings Hydroponics, Siemens and Nutricell, amongst others. New national and regional pavilions joining this year include Western Australia, Bhutan and Spain. This year’s highlights also include a Cultivated Meat Pavilion, hosted by the APAC Society for Cellular Agriculture (APAC-SCA), featuring cultivated meat; a Founder’s Hub showcasing the best start-ups and experience sharing by various founders; and a Demo Day and Pitching Competition among 20 start-up companies by Republic Polytechnic’s alumni and partners under the RP-Trendlines Agri-Food Incubation Programme.

Deputy Prime Minister Heng Swee Keat, who will be the guest of honour, will give an opening address at the SIAW 2023 Gala Dinner on 1 November. Culminating the week’s discussions, the 2023 Asia Food Challenge Report by Temasek, PWC and Rabobank will be launched and shared during the dinner. This bi-annual report focuses on decarbonisation activities and initiatives in the agri-food industry to reduce carbon emissions, address the emissions gap and avoid irreversible damage to the planet.

For latest information on these key events, please visit sginternationalagrifoodweek.com.sg.

ANNEX

Day 1: October 30, Monday

  • Roundtable on Novel Food Regulations – Organised by SFA since 2019, the Roundtable is a platform for regulators, local and international industry players, and members of international organisations to discuss latest technologies for novel food production, challenges in safety assessment, and explore opportunities to advance the regulatory approach while encouraging food innovations. Key international stakeholder groups attending this year include the Food and Agriculture Organisation of the United Nations, Korea’s Ministry of Food and Drug Safety, UK’s Food Standards Agency, and US Department of Agriculture.

Days 2 – 4: October 31 – 2 November (Tuesday to Thursday)

  • Asia Pacific Agri-Food Innovation Summit – Now in its sixth year, the summit convenes over 1,000 of the world’s leading agribusinesses, food brands, growers, entrepreneurs, and investors to discuss how technology and investment can be targeted to have the greatest impact on the agri-food value chain in the Asia-Pacific region. Together these senior agri-food leaders will identify strategic priorities, share ideas and collaborate towards greater capacity, security and resilience.

    Hosted by Rethink Events, the three-day summit features networking, start-up pitches, roundtable discussions and themed programmes for agriculture, food-tech, indoor farming, and blue food. From supporting the region’s smallholder farmers and seafood producers, to scaling novel foods and tackling energy efficiency in CEA, the summit will address the challenges in meeting demand for nutritious and affordable foods while reducing carbon throughout the supply chain.

  • Agri-Food Tech Expo Asia – Organised by Constellar, the Expo provides a focused exhibition platform with a “living lab” environment, thematic experiential zones, sandbox and community- based learning for emerging and established industry players in the agri-food industry to launch, showcase and testbed their solutions. The second edition will deep-dive into three key areas – Innovation, Sustainability and Safety – to explore solutions and technologies that will enhance every stage and aspect of the food production and manufacturing supply chain for future generations in the Asia-Pacific region.
  • SIAW Gala Dinner – The Singapore International Agri-Food Week 2023 Gala Dinner is set to gather a distinguished group of agri-food corporates, start-ups, investors, policy makers, and research scientists. This exclusive, invite-only event, held under the theme “Innovating for Sustainable Food Production in Asia,” promises an evening of networking, a four-course dinner featuring locally produced ingredients, and insightful discussions.

    The Asia Food Challenge Report, co-authored by PwC, Rabobank, Temasek, and Terrascope, provides valuable insights into five crucial areas within the Asian agri-food sector that offer significant potential for decarbonisation. These areas include: rice cultivation, livestock farming, food waste management, fertiliser use, and deforestation. The report is backed by comprehensive on-the-ground data and highlights innovative technologies that can be implemented in these sectors.

  • Global Scientific Symposium – Organised by SFA and the National University of Singapore, the symposium aims to bring together researchers, scientists, and technology solution providers to encourage the exchange of knowledge and catalyse scientific discussions amongst those with an interest in the food ecosystem. It also serves to advance cutting-edge science, technology and innovation, and foster collaboration to build agri-food capabilities for climate-resilient and sustainable food ecosystems.

Quotes by Partners and Organisers

  • Temasek International – Mr Anuj Maheshwari, Head, Agri-Food

“Together as an industry, we need to co-create and catalyse solutions that can help feed a growing and   discerning population. In addition, the agrifood sector is extremely vulnerable to the effects of climate change. We can play a significant role to advance our efforts to decarbonise food systems globally and especially in Asia. To do so, we need close collaborations across the public and private sectors, embracing innovation and scaling solutions together. Platforms such as the Singapore International Agri-Food Week brings together the best in the industry to deliver equitable access for healthy and sustainable food to our global communities”.

  • Economic Development Board (EDB) – Mr Damian Chan, Executive Vice President

“Ensuring food security is a global concern, with increasingly complex and multifaceted challenges arising from global population growth, climate change, urbanisation, and changing consumption habits. Successfully tackling these challenges will require industry players to develop innovative solutions in collaboration with government and academia. The Singapore International Agri-Food Week provides a unique opportunity in enabling this, and we look forward to the formation of more exciting partnerships that will collectively shape the future of food.”

  • Enterprise Singapore (EnterpriseSG) – Ms Jeannie Lim, Assistant Chief Executive Officer, Lifestyle & Consumer Group

“Agri-food tech innovations are increasingly important in offering alternative solutions for more sustainable and resilient means of food sources globally. Singapore aims to provide a platform for cross-border collaborations between the industry, research and innovation institutions to testbed and commercialise diverse solutions that can feed the world. Agritech companies and startups can also tap Singapore’s well-connected ecosystem as a launchpad to explore growth opportunities in the region.”

  • Singapore Food Agency (SFA) – Dr Tan Lee Kim, Director-General (Food Administration) and Deputy Chief Executive Officer

“Amidst the backdrop of global challenges like climate change, population growth and geopolitical disruptions which affect our supply chains, food security comes into the spotlight. To overcome these obstacles, we must embrace, adapt, and pioneer groundbreaking technologies that enable sustainable food production, all while conserving precious resources. We must also ensure there is harmonious synergy between regulators and the agri-food sector, to usher in a new era where innovative foods can nourish us safely.

We encourage our partners in the agri-food industry to join us at this year’s Singapore International Agri-Food Week as the world’s leading food producers, agribusinesses, entrepreneurs, investors, research institutions and policymakers come together to learn, network, and collaborate. Not only is it an opportunity to discuss the regulatory approaches towards new innovative food, but this event is also where the conversation to bolster food security and strengthen supply chains for the region while ensuring food safety for consumers takes place.”

  • Singapore Tourism Board (STB) – Mr Yap Chin Siang, Deputy Chief Executive

“We are delighted to host the third edition of Singapore International Agri-Food Week (SIAW), with a full delegation of leading agri-food companies, investors, and thought leaders from around the world. The exciting line up of activities speaks volumes about our ability to bring together the brightest minds to connect, collaborate and explore new business opportunities. We will continue to work closely with the event partners to build a globally impactful platform for the agri-food sector, and position Singapore as the preferred agri-food innovation hub and a leading destination for world-class business events.”

  • Constellar – Mr Paul Lee, Chief Executive (Markets)

“The inaugural Agri-Food Tech Expo Asia last year attracted over 6,000 attendees from 66 countries and 163 exhibitors from 24 countries. The strong support for, and participation in, our debut edition reflects a shared vision and urgency to build a resilient and sustainable future for food production and security in Singapore and the region. Constellar is committed to accelerating the achievement of this vision as we continue to build a global community of exhibitors to further innovations, technologies and collaboration opportunities in food safety and security by leveraging our event as a platform.”

  • Rethink Events – Ms Jennie Moss, Founder and Managing Director

“With climate-smart food production top of the global agenda, this year’s Singapore International Agri-Food Week could not be more timely. The Asia-Pacific Agri-Food Innovation Summit will identify the greatest opportunities for innovation in today’s food system, showcase some of the most exciting technologies emerging, and bring together the right stakeholders to ensure that these solutions get to scale. We can’t wait to see what new partnerships and collaborations are generated at this important event.”

Corporate Profiles

About Temasek

Temasek is a global investment company with a net portfolio value of S$382 billion (US$287b, €264b, £232b, RMB1.98t) as at 31 March 2023.

Its Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations.

As an active investor, forward looking institution and trusted steward, it is committed to deliver sustainable value over the long term.

Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody’s Investors Service and S&P Global Ratings respectively.

Headquartered in Singapore, it has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.

For more information on Temasek, please visit www.temasek.com.sg.

About Economic Development Board (EDB)

The Singapore Economic Development Board, a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent. We undertake investment promotion and industry development, and work with international businesses, foreign and local, by providing information, connection to partners and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore and Singaporeans.

Visit www.edb.gov.sg for more information.

About Enterprise Singapore (EnterpriseSG)

Enterprise Singapore is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise. We also support the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards.

Visit www.enterprisesg.gov.sg for more information.

About Singapore Food Agency (SFA)

As the lead agency for food-related matters, SFA’s mission is to ensure and secure a supply of safe food for Singapore. SFA works hand-in-hand with the industry and consumers to grow our three “food baskets” – Diversify import sources, Grow local, and Grow overseas, as well as ensure food safety from farm-to-fork.

SFA also partners food businesses to strengthen capabilities, tap on technologies to raise productivity, undertake research to develop new lines of business, and catalyse industry transformation to ensure food security.

For more information on SFA, visit www.sfa.gov.sg.

About Singapore Tourism Board (STB)

The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore’s key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.

Visit www.stb.gov.sg or www.visitsingapore.com for more information.

About the Agency for Science, Technology and Research (A*STAR)

The Agency for Science, Technology and Research (A*STAR) is Singapore’s lead public sector R&D agency. Through open innovation, we collaborate with our partners in both the public and private sectors to benefit the economy and society. As a Science and Technology Organisation, A*STAR bridges the gap between academia and industry. Our research creates economic growth and jobs for Singapore, and enhances lives by improving societal outcomes in healthcare, urban living, and sustainability. A*STAR plays a key role in nurturing scientific talent and leaders for the wider research community and industry. A*STAR’s R&D activities span biomedical sciences to physical sciences and engineering, with research entities primarily located in Biopolis and Fusionopolis.

Visit www.a-star.edu.sg for more information.

About Constellar

Constellar connects a global eco-system of event partners and consumers through a holistic portfolio of intellectual property (IP) in the Meetings, Incentives, Conventions and Exhibitions (MICE) industry. As Asia’s partner of reference for curating innovative event and venue experiences, Constellar activates impactful networks to bring global markets, businesses and consumers together for sustainable growth. With our expertise and dedication, we are invested in helping you build trusted relationships with stakeholders for the long term and enabling cross-industry collaboration through world-class audience engagement solutions.

Visit www.constellar.co for more information.

About Rethink Events

Rethink summits are created by experts in agri-food, to tackle the issues most crucial to stakeholders throughout the value chain. With its global network of senior -level industry advisors, Rethink Events produces highly-focused leadership summits, including the renowned World Agri-Tech and Future Food-Tech series. Its experienced team is committed to providing world-leading platforms for knowledge-sharing, debate and high impact networking for business leaders and innovators focused on sustainable growth in the agri-food system.

Visit www.rethinkevents.com for more information.

PR Newswire

HungryPanda Announces The First Ever International Delivery Rider Appreciation Day to Honor Delivery Heroes

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HungryPanda’s International Delivery Rider Appreciation Day to Celebrate and Honor Food Delivery Heroes

NEW YORK, Aug. 18, 2023 /PRNewswire/ — HungryPanda, the world’s leading overseas Asian food delivery platform is delighted to unveil a special addition to Chase’s Calendar of Events 2024: International Delivery Rider Appreciation Day. Marked annually on August 18th, this momentous occasion pays tribute to the hardworking and dedicated food delivery riders who tirelessly connect us with delicious meals and make our lives easier.


International Delivery Rider Appreciation Day holds great significance for both HungryPanda and its community of delivery riders. The chosen date, August 18, has been thoughtfully selected to symbolize the exceptional efforts of riders. The number combination “818” resembles the silhouette of a rider’s bicycle with bags on top, visually capturing the essence of their integral role in the food delivery process. Moreover, the phonetic similarity between the sound of “8” and “eat” fosters a delightful connection with the very essence of food, further strengthening the bond between riders and the joy of dining experiences.

HungryPanda has conceived International Delivery Rider Appreciation Day with a heartfelt mission: to recognize, respect, and reward the relentless dedication of food delivery riders. These remarkable individuals go above and beyond, braving various challenges to ensure prompt and efficient deliveries. On this special day, HungryPanda will shine a well-deserved spotlight on their extraordinary contributions. The event will feature a diverse range of initiatives aimed at honoring the dedication of delivery riders including distributing ‘Panda Care Boxes,’ setting up rider stations with fresh food and water, and introducing a new voice system in the HungryPanda app that allows riders to select a virtual companion to accompany them on future delivery journeys.

“We are incredibly proud to introduce International Delivery Rider Appreciation Day and celebrate the invaluable role our food delivery riders play in connecting communities with their favorite meals, ” said Kelu Liu, Founder and CEO of HungryPanda. “Their dedication and hard work deserve our utmost admiration and appreciation. This special day is our way of expressing gratitude and recognizing their relentless efforts in making our lives easier and more enjoyable.”

Earlier this year, HungryPanda underwent a visual rebrand, transitioning from its primary brand colors of blue and white to the highly visible combination of yellow and black. The decision was made after consulting experts and conducting a detailed study on the most prominent safety colors for transportation. The results conclusively identified yellow as the most visible color, particularly at night. By adopting this color scheme, HungryPanda aims to enhance the safety and visibility of its delivery riders, providing them with an added layer of protection while navigating the streets.

Join HungryPanda in commemorating International Delivery Rider Appreciation Day and let us collectively express deep appreciation for these remarkable individuals who enhance our lives one delivery at a time. Together, we can celebrate their dedication, recognize their invaluable contributions, and foster a culture of gratitude and support within the food delivery community.

About HungryPanda

Founded in 2017, HungryPanda is currently the largest overseas Asian food delivery platform and the only food delivery platform to rank in Deloitte’s 2021 UK Technology Fast 50. Starting in Nottingham, U.K., HungryPanda has expanded to more than 80 cities in 10 countries: the U.K., France, Italy, the U.S., Canada, Australia, New Zealand, Japan, South Korea and Singapore. Currently, HungryPanda works with over 80,000 riders, 100,000 merchants and serves over 6 million users worldwide. This year, HungryPanda sets sights on $1 billion in gross transaction volume. For more information visit www.hungrypanda.co.

PR Newswire

365Robot: Transforming Singapore’s Food Services Industry with Versatile Robot Waiters

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SINGAPORE, Aug. 4, 2023 /PRNewswire/ — The food services industry in Singapore is facing a growing challenge as it projects 40% of its jobs to require redesign in the next three years. To address this issue and streamline operations, businesses are seeking innovative solutions. Introducing 365Robot, a pioneering company that is set to revolutionize the food services sector with its advanced robot waiters, catering to the ever-evolving needs of the industry.

365Robot’s Robot Waiters: A Game-Changing Approach

With the introduction of 365Robot’s cutting-edge robot waiters, the food services industry in Singapore will experience a transformative shift. By deploying these robot waiters, restaurants can optimize their workforce and allow human staff to focus on delivering personalized customer experiences and upskilling for future challenges.

Benefits of Robot Waiters:

Enabling Personalized Service: With robot waiters handling repetitive tasks, human staff can dedicate more time to understanding and catering to customers’ unique preferences, creating a truly personalized dining experience.

Efficiency and Time Savings: Robot waiters are programmed to navigate crowded restaurant spaces efficiently, ensuring quicker order deliveries and reducing overall waiting time for patrons.

Autonomous Plate Collection: 365Robot’s robot waiters cruise through the restaurant, and customers can place used plates and glasses onto its tray. After a pre programmed time, the robot will go to the washing area, where staff can collect the dirty plates. Alternatively, staff in the washing area can press a ‘call’ button and the robot will return immediately.

Unmatched Versatility: These highly adaptable robots can seamlessly integrate with various restaurant layouts and service styles, providing versatility that suits any establishment.

Table tracking: Upon placing the order, customers receive a table tracker that can be placed on their table, allowing them to choose their seats without needing humans to direct them. These trackers inform robot waiters the precise location of the customers, and where to deliver orders to.  This way, staff can focus on other tasks, optimising resource allocation and improving overall service quality.

Selecting the right robot waiter for a restaurant is essential. Factors such as the restaurant’s specific needs and challenges, the robot’s capabilities, customization options, integration with existing systems, and cost-effectiveness play a crucial role. 365Robot’s experts work closely with clients to help them understand how the robot waiter’s features align with their goals and customer service strategy.

Customer Success Stories

365Robot’s robot waiters have already proven their mettle in renowned restaurants like HANS IM GLÜCK, SHATEC, and Sri Bistari. Marco Basile, the Managing Director of HANS IM GLÜCK, shares his experience with 365Robot:

“I have great satisfaction and appreciation for the services and solutions provided by 365Robot as an AI robot provider. The decision to work with 365Robot was influenced by their outstanding industry reputation, proven track record, and positive feedback from other businesses and industry experts. The comprehensive features offered by 365Robot’s AI robots have significantly streamlined and automated processes, increasing efficiency, accuracy, and productivity. The exceptional customer service, deep understanding of specific needs, and prompt issue resolution demonstrated by the 365Robot team were also crucial factors. The company’s dedication to continuous improvement and innovation, as well as their commitment to staying at the forefront of the industry, assures a long and fruitful partnership.”

365Robot remains committed to leading technological advancements and working in collaboration with the food services industry in Singapore to provide tailored solutions. With its versatile and efficient robot waiters, 365Robot aims to drive significant improvements in the industry while addressing the challenges brought on by the changing landscape.

For more information on how 365Robot can transform your restaurant’s operations and customer experience, please visit https://www.365robot.sg/robot-waiter/.

365 Robot has selected Verz Design as its trusted partner for digital marketing. Established in 2009, Verz Design offers a range of digital marketing services, including search engine optimization (SEO), social media marketing, and search engine marketing. With a proven track record of success, Verz Design has achieved top rankings on the first page of Google for keywords such as ‘SEO Services‘.

About 365Robot:

365Robot is a trailblazing technology company dedicated to developing and deploying advanced robot waiters that revolutionize the food services industry. With an unwavering commitment to innovation and customer satisfaction, 365Robot continues to lead the way in the adoption of cutting-edge technology to enhance businesses across Singapore’s vibrant culinary landscape.

PR Newswire

Meituan Launches Food Delivery Brand KeeTa Amid Hong Kong Debut

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KeeTa starts operation in Mong Kok and Tai Kok Tsui areas

HONG KONG, May 21, 2023 /PRNewswire/ — Meituan (HKG: 3690) (the “Company”), a leading technology-driven retail company in China, today introduced KeeTa, a new food delivery brand as it officially launches in the Hong Kong market, to provide residents with more customized, efficient and reliable delivery services.

Meituan introduces new food delivery brand KeeTa as it officially launches in the Hong Kong market.
Meituan introduces new food delivery brand KeeTa as it officially launches in the Hong Kong market.

Following the initial launch in Mong Kok and Tai Kok Tsui, the Company expects KeeTa to complete full coverage of the Hong Kong market by the end of this year. The KeeTa app is now available for download in major mobile app stores. Delivery services via KeeTa will start at 8:00 a.m., Monday, May 22, 2023 local time.

Notable merchants that have joined KeeTa include brands like McDonald’s, Maxim’s MX (美心MX), KFC, Yoshinoya(吉野家), Pacific Coffee, and popular food and beverage shops such as hana-musubi (華御結), Hung Fook Tong(鴻福堂), and CHICHA San Chen(吃茶三千). Each newly registered KeeTa user will receive a gift coupon package valued at HK$300, including special meal offers and delivery fee reductions.

KeeTa has introduced a Meal for One program customized for Hong Kong residents. It offers value-for-money set menus for individuals, which allow them to order a meal for as little as HK$60, including delivery fee. Currently available set menus include Chinese, western and Japanese cuisines and beverages. For merchants, the program provides optimized online exposure without requiring additional advertising and traffic expenses. Promoting selected set menus also helps merchants with more efficient ingredient purchasing and meal preparation. Merchants can grow their overall profitability through greater order volumes.

To further improve user experience, KeeTa has an “On-time Promise” policy, an industry-first in the Hong Kong market, which comes free-of-charge for all users. It includes a tiered compensation plan for late orders. Users are promised vouchers toward future purchases for eligible orders delivered more than 15 minutes beyond the original delivery estimate. For courier support, KeeTa is offering couriers multiple reward programs, including incentives for on-time deliveries to improve performance.

“We are seeing an accelerating development of the food delivery market in Hong Kong in the past few years and still unfilled market demands from diners, restaurants and couriers,” said a Meituan spokesperson. “KeeTa aims to meet users’ demand for high-quality delivery services, help merchants grow their business, and provide more flexible and rewarding employment opportunities for couriers.”

Inspired by the renowned sprinter cheetah, KeeTa aims to become an exceptional and enduring on-demand delivery platform in the Hong Kong market, providing high-quality services with more efficiency and better user experience for Hong Kong residents.

About KeeTa

KeeTa is a technology-driven delivery platform that connects consumers with local food and retail merchants and couriers. With the mission of “We help people eat better, live better,” KeeTa is committed to providing localized high-quality products and services, benefiting consumers, food and retail merchants and couriers from the entire ecosystem. KeeTa was launched by Meituan (3690.HK), which owns China’s leading food delivery platform Meituan Waimai.

About Meituan

Meituan (HKG: 3690) (the “Company”) is a leading technology-driven retail company in China. With the mission of “We help people eat better, live better,” the Company uses technology to connect consumers and merchants. Service offerings on its platform address people’s daily needs for food and retail goods and extend further to broad lifestyle and travel services. Meituan is the world’s leading on-demand food delivery service provider and China’s leading e-commerce platform for in-store dining services. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China, including Meituan, China’s leading online marketplace for services, Dianping, China’s leading online destination for discovering local services, Meituan Waimai for on-demand delivery services, and Meituan Bikes for bike-sharing services. Meituan has 677.9 million Annual Transacting Users and 9.3 million Annual Active Merchants as of December 31, 2022. The Company operates in over 2,800 cities and counties in China.

For media inquiries, please contact:

Meituan
pr.global@meituan.com   

ICR Inc.
Email: MeituanPR@icrinc.com

PR Newswire

Dingdong (Cayman) Limited Announces First Quarter 2023 Financial Results

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SHANGHAI, May 12, 2023 /PRNewswire/ — Dingdong (Cayman) Limited (“Dingdong” or the “Company”) (NYSE: DDL), a leading fresh grocery e-commerce company in China, with advanced supply chain capabilities, today announced its unaudited financial results for the quarter ended March 31, 2023.

First Quarter 2023 Highlights:

  • GMV for the first quarter of 2023 decreased by 6.8% year over year to RMB5,451.2 million (US$793.8 million) from RMB5,851.3 million in the same quarter of 2022, primarily due to decreased consumer demand in the first quarter of 2023, as most of the pandemic restrictive measures were lifted. In contrast, consumer demand in the first quarter of 2022 was excessively high due to a series of restrictive measures implemented by local governments to contain the spread of the Omicron variant, in particular, during the city-wide lockdown in Shanghai last March. GMV in the first quarter of 2023 was also adversely affected by the Company’s withdrawal from several cities in 2022, due to difficulties in attaining profitability in these markets in the short term. Furthermore, the company reduced using subsidies and discounted pricing to attract and retain customers, which caused a temporary decrease in GMV.  Excluding March, GMV generated in January and February 2023 increased by 5.3% year over year to RMB3,600.9 million (US$524.3 million) from RMB3,420.7 million in the same period of 2022.
  • Fulfillment expenses for the first quarter of 2023 were RMB1,196.1 million (US$174.2 million), a decrease of 19.4% from RMB1,484.1 million in the same quarter of 2022. Fulfillment expenses as a percentage of total revenues decreased to 23.9% from 27.3% in the same quarter of 2022.
  • Non-GAAP net income for the first quarter of 2023 was RMB6.1 million (US$0.9 million), compared with non-GAAP net loss of RMB422.2 million in the same quarter of 2022.

Mr. Changlin Liang, Founder and Chief Executive Officer of Dingdong, stated,

“During the first quarter of 2023, there was reduced consumer demand for our products as China lifted its dynamic zero-COVID policy and people were traveling during the Chinese New Year and engaging in spring outings. We also incurred additional expenses and labor costs to ensure timely order fulfillment during the holiday. Despite these setbacks, we are proud that we were still able to achieve our expected non-GAAP breakeven this quarter.

Dingdong is a start-up dedicated to providing safe, healthy, and delicious food to users. Our mission is to innovate relentlessly for the betterment of people’s lives. We will leave no stone unturned to create value for consumers and society, while adhering to our roots and maintaining strict discipline. Our beliefs extend far beyond mere profitability, fueling our passion and drive to achieve success both now and in the future.”

Ms. Le Yu, Chief Strategy Officer of Dingdong, stated,

“In the first quarter of 2023, we recorded RMB5.45 billion GMV, with a year-over-year decrease of 6.8%, meanwhile our revenue was RMB5.0 billion, with a year-over-year decrease of 8.2%. To break it down, our GMV in January and February increased by 5.3% as compared to the same period of last year, and the decline in March was a comparison with the high base resulting from the lockdown in Shanghai last March. On a year-over-year basis, gross margin, fulfillment expense ratio, sales and marketing expense ratio, G&A expense ratio and product development expense ratio all were optimized. Our success in the first quarter adds confidence in our ability to achieve a full-year non-GAAP breakeven for 2023.”

First Quarter 2023 Financial Results

Total revenues were RMB4,997.5 million (US$727.7 million), representing a decrease of 8.2% from RMB5,443.7 million in the same quarter of 2022, which was primarily due to decreased consumer demand in the first quarter of 2023. In contrast, consumer demand in the first quarter of 2022 was excessively high due to a series of restrictive measures implemented by local governments to contain the spread of the Omicron variant, in particular, during the city-wide lockdown in Shanghai last March. Total revenues for the first quarter of 2023 was also adversely affected by the Company’s withdrawal from several cities in 2022, due to difficulties in attaining profitability in these markets in the short term. Total revenues for the first two months of 2023 increased by 5.2% year over year to RMB3,302.8 million (US$480.9 million) from RMB3,140.3 million in the same period of 2022.

  • Product Revenues were RMB4,937.8 million (US$719.0 million), a decrease of 8.1% from RMB5,375.1 million in the same quarter of 2022. Excluding March, total product revenues for the first two months of 2023 increased by 5.3% year over year to RMB3,261.8 million (US$475.0 million) from RMB3,096.2 million in the same period of 2022.
  • Service Revenues were RMB59.7 million (US$8.7 million), a decrease of 12.9% from RMB68.6 million in the same quarter of 2022, primarily because the Company was proactively optimizing its membership structure.

Total operating costs and expenses were RMB5,043.3 million (US$734.4 million), a decrease of 14.4% from RMB5,892.3 million in the same quarter of 2022, with a detailed breakdown as below.  

  • Cost of goods sold was RMB3,462.3 million (US$504.2 million), a decrease of 10.7% from RMB3,879.3 million in the same quarter of 2022. Cost of goods sold as a percentage of revenues decreased to 69.3% from 71.3% in the same quarter of 2022, primarily due to improvements in product development capabilities. Gross margin was 30.7%, a significant improvement from 28.7% in the same quarter of 2022.
  • Fulfillment expenses were RMB1,196.1 million (US$174.2 million), a decrease of 19.4% from RMB1,484.1 million in the same quarter of 2022. Fulfillment expenses as a percentage of total revenues decreased to 23.9% from 27.3% in the same quarter of 2022, mainly driven by the increase in average order value and improved frontline fulfillment labor efficiency.
  • Sales and marketing expenses were RMB87.5 million (US$12.7 million), a decrease of 50.3% from RMB176.1 million in the same quarter of 2022, as user acquisition cost per new transacting user decreased due to the Company’s improved product development capabilities and increasingly established brand image.
  • General and administrative expenses were RMB86.8 million (US$12.6 million), a decrease of 26.9% from RMB118.7 million in the same quarter of 2022, mainly due to the improved efficiency of our staff.
  • Product development expenses were RMB210.6 million (US$30.7 million), a decrease of 10.0% from RMB233.9 million in the same quarter of 2022, primarily due to the Company’s improved R&D efficiency. While advocating on energy and resource saving, the Company will continue its investments in product development capabilities, agricultural technology, data algorithms, and other technology infrastructure, to further enhance its competitiveness.

Loss from operations was narrowed to RMB50.1 million (US$7.3 million), compared with operating loss of RMB461.7 million in the same quarter of 2022.

Net loss was narrowed to RMB52.4 million (US$7.6 million), compared with net loss of RMB477.4 million in the same quarter of 2022.

Non-GAAP net income, which is a non-GAAP measure that excludes share-based compensation expenses, was RMB6.1 million (US$0.9 million), a significant improvement from non-GAAP net loss of RMB422.2 million in the same quarter of 2022. In addition, non-GAAP net margin, which is the Company’s non-GAAP net income / (loss) as a percentage of revenues, improved to 0.1% from negative 7.8% in the same quarter of 2022.

Basic and diluted net loss per share were RMB0.17 (US$0.02), compared with net loss per share of RMB1.48 in the same quarter of 2022. Non-GAAP net income per share, basic and diluted, was RMB0.01 (US$0.00), compared with non-GAAP net loss per share of RMB1.31 in the same quarter of 2022.

Cash and cash equivalents and short-term investments were RMB5,700.2 million (US$830.0 million) as of March 31, 2023, compared with RMB6,493.0 million as of December 31, 2022.

Conference Call

The Company’s management will hold an earnings conference call at 8:00 A.M. Eastern Time on Friday, May 12, 2023 (8:00 P.M. Beijing Time on the same day) to discuss the financial results. The presentation and question and answer session will be presented in both Mandarin and English. Listeners may access the call by dialing the following numbers:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Mainland China Toll Free:

4001-206115

Hong Kong Toll Free:

800-963976

Conference ID:

7302404

The replay will be accessible through May 19, 2023 by dialing the following numbers:

International:

1-412-317-0088

United States:

1-877-344-7529

Access Code:

5972888

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.100.me.

About Dingdong (Cayman) Limited

We are a leading fresh grocery e-commerce company in China, with sustainable long-term growth. We directly provide users and households with fresh produce, prepared food, and other food products through a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid. Leveraging our deep insights into consumers’ evolving needs and our strong food innovation capabilities, we have successfully launched a series of private label products spanning a variety of food categories. Many of our private label products are produced at our Dingdong production plants, allowing us to more efficiently produce and offer safe and high-quality food products. We aim to be Chinese families’ first choice for food shopping.

For more information, please visit: https://ir.100.me.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP measures, such as non-GAAP net (loss)/income, non-GAAP net margin, non-GAAP net (loss)/income attributable to ordinary shareholders and non-GAAP net (loss)/income per share, basic and diluted, in evaluating its operating results and for financial and operational decision-making purposes. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, which are non-cash charges and do not correlate to any operating activity trends. The Company believes that the non-GAAP financial measures provide useful information about the Company’s results of operations, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company’s operating performance, cash flows or liquidity, investors should not consider them in isolation, or as a substitute for net loss, cash flows provided by operating activities or other consolidated statements of operations and cash flows data prepared in accordance with U.S. GAAP. The Company’s definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures.

The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance.

For more information on the non-GAAP financial measures, please see the table captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this announcement.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.8676 to US$1.00, the exchange rate on March 31, 2023 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue,” or other similar expressions. Among other things, business outlook and quotations from management in this announcement, as well as Dingdong’s strategic and operational plans, contain forward-looking statements. Dingdong may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its interim and annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Dingdong’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dingdong’s goals and strategies; Dingdong’s future business development, financial conditions, and results of operations; the expected outlook of the fresh grocery ecommerce market in China; Dingdong’s expectations regarding demand for and market acceptance of its products and services; Dingdong’s expectations regarding its relationships with its users, clients, business partners, and other stakeholders; competition in Dingdong’s industry; and relevant government policies and regulations relating to Dingdong’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement and in the attachments is as of the date of the announcement, and the Company undertakes no duty to update such information, except as required under applicable law.

For investor inquiries, please contact:

Dingdong Fresh
ir@100.me

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of RMB and US$)

As of

December 31,

2022

March 31,

2023

March 31,

2023

RMB

RMB

US$

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

1,856,187

1,778,127

258,915

Restricted cash

2,763

7,714

1,123

Short-term investments

4,636,774

3,922,041

571,093

Accounts receivable, net

141,468

103,933

15,134

Inventories

604,884

478,763

69,713

Advance to suppliers

83,835

72,262

10,522

Prepayments and other current assets

170,336

181,256

26,394

Total current assets

7,496,247

6,544,096

952,894

Non-current assets:

Property and equipment, net

314,980

277,907

40,466

Operating lease right-of-use assets

1,425,117

1,362,000

198,323

Other non-current assets

145,563

145,815

21,232

Total non-current assets

1,885,660

1,785,722

260,021

TOTAL ASSETS

9,381,907

8,329,818

1,212,915

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

1,886,689

1,464,798

213,291

Customer advances and deferred revenue

253,010

241,289

35,134

Accrued expenses and other current
     liabilities

810,963

653,309

95,129

Salary and welfare payable

329,104

334,438

48,698

Operating lease liabilities, current

693,496

704,286

102,552

Short-term borrowings

4,237,978

3,803,576

553,844

Total current liabilities

8,211,240

7,201,696

1,048,648

Non-current liabilities:

Operating lease liabilities, non-current

678,000

615,025

89,555

Other non-current liabilities

75,000

115,067

16,755

Total non-current liabilities

753,000

730,092

106,310

TOTAL LIABILITIES

8,964,240

7,931,788

1,154,958

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(Amounts in thousands of RMB and US$)

As of

December 31,

2022

March 31,

2023

March 31,

2023

RMB

RMB

US$

(Unaudited)

LIABILITIES, MEZZANINE EQUITY AND

SHAREHOLDERS’ EQUITY (CONTINUED)

Mezzanine Equity:

Redeemable noncontrolling interests

107,490

109,550

15,952

TOTAL MEZZANINE EQUITY

107,490

109,550

15,952

Shareholders’ equity

Ordinary shares

4

4

1

Additional paid-in capital

13,922,811

13,982,043

2,035,943

Treasury stock

(20,666)

(20,666)

(3,010)

Accumulated deficit

(13,580,086)

(13,634,537)

(1,985,343)

Accumulated other comprehensive loss

(11,886)

(38,364)

(5,586)

TOTAL SHAREHOLDERS’ EQUITY

310,177

288,480

42,005

TOTAL LIABILITIES, MEZZANINE EQUITY
    AND SHAREHOLDERS’ EQUITY

9,381,907

8,329,818

1,212,915

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Revenues:

Product revenues

5,375,090

4,937,763

718,994

Service revenues

68,582

59,715

8,695

Total revenues

5,443,672

4,997,478

727,689

Operating costs and expenses:

Cost of goods sold

(3,879,328)

(3,462,337)

(504,155)

Fulfillment expenses

(1,484,142)

(1,196,059)

(174,160)

Sales and marketing expenses

(176,116)

(87,464)

(12,736)

Product development expenses

(233,915)

(210,635)

(30,671)

General and administrative expenses

(118,771)

(86,842)

(12,645)

Total operating costs and expenses

(5,892,272)

(5,043,337)

(734,367)

Other operating expenses, net

(13,066)

(4,197)

(611)

Loss from operations

(461,666)

(50,056)

(7,289)

Interest income

13,234

33,751

4,915

Interest expenses

(30,708)

(28,876)

(4,205)

Other income, net

1,757

2,866

417

Loss before income tax

(477,383)

(42,315)

(6,162)

Income tax expenses

–

(10,076)

(1,467)

Net loss

(477,383)

(52,391)

(7,629)

Accretion of redeemable noncontrolling interests

(1,435)

(2,060)

(300)

Net loss attributable to ordinary shareholders

(478,818)

(54,451)

(7,929)

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(CONTINUED)
(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Net loss per Class A and Class B ordinary share:

Basic and diluted

(1.48)

(0.17)

(0.02)

Shares used in net loss per Class A and Class B
    ordinary share computation:

Basic and diluted

324,443,234

324,539,178

324,539,178

Other comprehensive loss, net of tax of nil:

Foreign currency translation adjustments

(24,959)

(26,478)

(3,855)

Comprehensive loss

(502,342)

(78,869)

(11,484)

Accretion of redeemable noncontrolling interests

(1,435)

(2,060)

(300)

Comprehensive loss attributable to ordinary
    shareholders

(503,777)

(80,929)

(11,784)

DINGDONG (CAYMAN) LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands of RMB and US$)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Net cash used in operating activities

(385,203)

(306,839)

(44,679)

Net cash generated from investing activities

885,907

669,811

97,532

Net cash generated from / (used in) financing activities

98,991

(432,873)

(63,031)

Effect of exchange rate changes on cash and cash
   equivalents and restricted cash

(3,560)

(3,209)

(468)

Net increase / (decrease) in cash and cash equivalents
and restricted cash

596,135

(73,110)

(10,646)

Cash and cash equivalents and restricted cash at the
    beginning of the period

670,432

1,858,951

270,684

Cash and cash equivalents and restricted cash at the
    end of the period

1,266,567

1,785,841

260,038

DINGDONG (CAYMAN) LIMITED 
UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS 
(Amounts in thousands of RMB and US$, except for number of shares and per share data)

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Net loss

(477,383)

(52,391)

(7,629)

Add: share-based compensation expenses (1)

55,174

58,462

8,513

Non-GAAP net (loss) / income

(422,209)

6,071

884

Net loss margin

(8.8 %)

(1.1 %)

(1.1 %)

Add: share-based compensation expenses

1.0 %

1.2 %

1.2 %

Non-GAAP net (loss) / income margin

(7.8 %)

0.1 %

0.1 %

Net loss attributable to ordinary shareholders

(478,818)

(54,451)

(7,929)

Add: share-based compensation expenses (1)

55,174

58,462

8,513

Non-GAAP net (loss) / income attributable to ordinary
    shareholders

(423,644)

4,011

584

Net loss per Class A and Class B ordinary share:

Basic and diluted

(1.48)

(0.17)

(0.02)

Add: share-based compensation expenses

0.17

0.18

0.02

Non-GAAP net (loss) / income per Class A and Class B
    ordinary share:

       Basic and diluted

(1.31)

0.01

0.00

(1) Share-based compensation expenses are recognized as follows:

For the three months ended

March 31,

2022

2023

2023

RMB

RMB

US$

(Unaudited)

Fulfillment expenses

12,116

11,970

1,743

Sales and marketing expenses

(255)

789

115

Product development expenses

26,037

28,424

4,139

General and administrative expenses

17,276

17,279

2,516

Total

55,174

58,462

8,513