On Tuesday, Chinese online grocer Dingdong Maicai reported RMB 5.4 billion ($860 million) revenue in the fourth quarter of 2021, a 72% yearly increase and its best quarter since it was founded in 2017. The company narrowed its net loss margin to less than 13% and turned its first gross profit in Shanghai, its home city. Dingdong said it plans to invest more in long-term areas such as product capabilities, traffic operations, and infrastructure in the coming year. [Dingdong Maicai press release]