Dada Nexus Ltd - DADA STOCK NEWS

Dada Nexus (NASDAQ: DADA), China's leading local on-demand retail and delivery platform, has announced that its independent special committee has appointed Kroll, as financial advisor and Gibson, Dunn & Crutcher LLP as U.S. legal counsel. These appointments are part of the committee's ongoing evaluation of the non-binding proposal received on January 25, 2025.

The special committee continues to review the proposal, and the Board has cautioned shareholders that no decisions have been made yet. The company emphasized that there is no guarantee of receiving a definitive offer, executing any agreement, or completing the proposed transaction. Updates will only be provided as required by law.

Dada Nexus (NASDAQ: DADA), China's leading local on-demand retail and delivery platform, has received a preliminary non-binding proposal from JD.com to acquire all outstanding ordinary shares not already owned by JD. The proposed purchase price is US$2.0 per ADS (US$0.5 per Ordinary Share) in cash, representing a 42% premium over the last trading day's closing price.

The company's board has formed a Special Committee of three independent directors - Baohong Sun, Laura Marie Butler (Chair), and Jian Han - to evaluate the proposed transaction. The committee plans to retain independent financial advisors and legal counsel. The company emphasizes that no decisions have been made regarding the proposal, and there's no guarantee of a definitive agreement or transaction completion.

Dada Nexus (NASDAQ: DADA) reported Q3 2024 financial results with total net revenues of RMB2,429.4 million, down 7.3% year-over-year. JD NOW's monthly transacting users and orders through the JD App grew over 100% YoY. Dada NOW revenue increased 38.6% to RMB1,499.2 million, driven by growth in intra-city delivery services. The company reported a net loss of RMB197.3 million, compared to RMB166.0 million in Q3 2023. Non-GAAP net loss was RMB59.4 million. Order volume reached 648.4 million with gross billings of RMB3,098.2 million.

Dada Nexus (NASDAQ: DADA), China's leading local on-demand retail and delivery platform, will release its unaudited financial results for the third quarter ended September 30, 2024, on Wednesday, November 13, 2024, after U.S. markets close. The company will host a conference call at 8:30 p.m. Eastern Time on November 13 (9:30 a.m. Beijing time on November 14). A telephone replay will be available until November 21, 2024, and a webcast will be accessible on Dada's Investor Relations website.

Dada Nexus (NASDAQ: DADA) announced its Q2 2024 financial results. Total net revenues were RMB2,349.9 million, down 9.5% year-over-year. JD NOW revenues decreased 43.5% to RMB912.4 million, while Dada NOW revenues increased 46.6% to RMB1,437.5 million. The company reported a net loss of RMB286.2 million, compared to RMB158.7 million in Q2 2023. Non-GAAP net loss was RMB142.3 million. JD NOW saw over 100% year-on-year growth in monthly transacting users and orders through the JD App. Dada NOW's revenue grew over 50% year-on-year in H1 2024. The company's focus remains on user experience optimization and high-quality development.

Dada Nexus (NASDAQ: DADA), China's leading local on-demand retail and delivery platform, has announced significant management changes. The Board has elected Mr. Kevin Qing Guo as a new director and chairman, succeeding Mr. Ian Su Shan, who will remain a director. Additionally, Mr. Bing Fu has resigned as Interim President. The Board is actively evaluating the Company's leadership composition for long-term development.

Mr. Guo, a consultant to JD.com and Dada since April 2024, is also the co-founder and CEO of Robot-X, a cooking robotics company. He previously held key positions at Meituan. These changes aim to strengthen Dada's leadership and potentially bring fresh perspectives to the company's strategic direction.

Dada Nexus (NASDAQ: DADA), China's leading local on-demand retail and delivery platform, has announced it will release its unaudited financial results for the second quarter ended June 30, 2024, on Tuesday, August 20, 2024, after the close of U.S. markets. The company will host a conference call to discuss the earnings at 9:30 p.m. Eastern Time on the same day (9:30 a.m. Beijing time on Wednesday, August 21, 2024).

Interested parties can pre-register for the conference call using the provided link. Upon registration, participants will receive dial-in numbers, a conference call passcode, and a unique access PIN. A telephone replay of the call will be available until August 28, 2024. Additionally, a live and archived webcast of the conference call will be accessible on the Investor Relations section of Dada's website.

Dada Nexus (NASDAQ: DADA), a leading local on-demand retail and delivery platform in China, released its 2023 ESG report, highlighting significant environmental, social, and governance (ESG) initiatives. Important achievements include a 30% decrease in quality-related issues, a 95% fulfillment rate, and a 90% after-call satisfaction rate. The company achieved a 15% increase in user NPS and collaborated with over 500,000 merchant stores and 300 brands. Dada also emphasized rider safety with high satisfaction rates and extensive training. In green development, Dada reduced Scope 1 and 2 emissions by 18% and increased biodegradable plastic usage to 92%.

Dada Nexus , a leading on-demand retail and delivery platform in China, announced its unaudited financial results for Q1 2024. The company reported total net revenues of RMB2,451.8 million, down 3.3% YoY. JD NOW revenues dropped 28.4% to RMB1,278.5 million, while Dada Now revenues surged 56.7% to RMB1,173.2 million. Operational expenses increased, primarily due to higher rider costs. Despite investments, the non-GAAP net loss margin remained stable. Key user metrics showed promising growth, with a notable increase in monthly transacting users and orders. However, the company reported a net loss of RMB328.0 million, slightly down from RMB350.4 million in Q1 2023. Cash reserves stood at RMB3,813.2 million as of March 2024.