SHANGHAI, Nov 17, 2022 /PRNewswire/ Dada Nexus Limited (Dada Group, NASDAQ: DADA), China's leading local on-demand delivery and retail platform, today announced its unaudited financial results for the third quarter ended September 30, 2022.
Financial highlights:
Total net revenues in the third quarter were RMB2,380.1 million, an increase of 41.1% year over year.
Net revenues generated from Dada Now were RMB835.9 million, an increase of 36.1% year over year.
Net revenues generated from JDDJ were RMB1,544.3 million, an increase of 44.0% year over year.
Adjusted net loss was 270 million, beating market consensus by over 10%. Adjusted net loss margin narrowed by over 15 percentage points year over year.
Total Gross Merchandise Volume (“GMV”) of JDDJ for the twelve months ended September 30, 2022 was RMB58.9 billion, an increase of 58.3% year over year from RMB37.2 billion in the same period of 2021.
Operational highlights:
During the quarter, GMV of Shop Now, or Xiaoshigou, the unified brand for all on-demand retail services within the JD ecosystem, increased by more than 160% year-over-year.
With over 200,000 stores participating, GMV of JDDJ on the peak day of the Double 11 Shopping Festival reached a historic high. Dada Now’s number of average daily orders throughout the campaign exceeded 10 million.
About Dada Group
Dada Group is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China's largest local on-demand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The company's two platforms are inter-connected and mutually beneficial. The Dada Now platform enables an improved delivery experience for participants on the JDDJ platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. Meanwhile, the vast volume of on-demand delivery orders from the JDDJ platform increases order volume and density for the Dada Now platform. In June 2020, Dada Group began trading on the Nasdaq Global Market under the ticker symbol "DADA".