Following the news, the stock of the firm rose by about 5%.
According to the firm's official financial report:
Total net revenues were CNY 1.67 billion, an increase of 52.1% year-on-year.
Total Gross Merchandise Volume (GMV) of JDDJ for the twelve months ended March 31, 2021, was CNY 28.1 billion, an increase of 78.9% year-on-year from CNY 15.7 billion in the same period of 2020.
The number of active consumers for the twelve months ended March 31, 2021, was 46.1 million, as compared with 27.6 million in the same period of 2020.
Total costs and expenses were CNY 2.42 billion, compared with CNY 1.42 billion in the same quarter of 2020.
The revenue growth of the two major businesses of Dada Group, Dada Kuaisong and JD Daojia, both exceeded 50%. Driven by the increase in service orders from logistics companies and intra-city distribution service orders from chain merchants, Dada Express's revenue in the first quarter increased by 51% year-on-year to CNY 900 million.
Dada Group expects that the total revenue in the second quarter will increase by 72% to 78% year-on-year, with revenue ranging from CNY 1.4 billion to CNY 1.5 billion. Among the brands, Jingdong Daojia's revenue growth rate will exceed 80% year-on-year and will achieve further accelerated growth on this basis in the second half of 2021.