Consumer Staples Author: Qasim Khan Jun 08, 2021 11:10 AM (GMT+8)

Following the news, the stock of the firm rose by about 5%.

Dada delivery rider

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.