Dada Nexus Limited American Depositary Shares - DADA STOCK NEWS

Dada Group (Nasdaq: DADA) announced enhancements to its on-demand delivery platform, Dada Now, focusing on customized services for chain merchants like LBX Pharmacy. The 'Dedicated Delivery Service' aims to improve order fulfillment across China, especially in lower-tier cities. Notably, intra-city delivery orders in these regions surged by nearly 16 times year-over-year, with deliveries within 30 minutes. Revenue from chain merchants, particularly pharmaceuticals, grew significantly—over 130% year-over-year overall and over 600% for pharmacies. This underlines Dada's expanding role in the on-demand delivery market.

Dada Group (Nasdaq: DADA) announced partnerships with cosmetics retailers THE COLORIST and WOW COLOUR, enhancing their JDDJ on-demand retail platform. This collaboration will optimize product management, digital marketing, and order fulfillment for rapid delivery services. As of June 2021, 178 THE COLORIST stores are integrated into JDDJ, with an additional 80 WOW COLOUR stores to launch. The company also reported a significant sales increase in cosmetics during the recent 618 Shopping Festival, with sales more than double compared to last year.

Dada Group (Nasdaq: DADA), China’s top local on-demand delivery and retail platform, achieved record sales during the 2021 6.18 Shopping Festival, held from June 1 to June 20. Transaction volumes on JDDJ doubled compared to last year, with sales reaching over RMB 300 million on June 18, marking a single-day fresh sales record. JDDJ’s expansion into lower-tier cities saw sales soar over 500%. Notably, Walmart led supermarket sales, and the Dada Now platform maintained a delivery fulfillment rate of over 99%. The company's smart logistics system boosted operational efficiency during the festival.

Dada Group (Nasdaq: DADA), China's leading local on-demand delivery and retail platform, has strengthened its strategic partnership with Lenovo Lecoo to develop an omni-channel growth model for consumer electronics. The agreement focuses on enhancing traffic and efficiency across Lecoo's 1,000 offline stores over the next two years. Lecoo operates 300 stores and plans to open an additional 600. The collaboration has led to significant sales growth on Dada's platform, especially during promotional events, indicating a robust demand for on-demand delivery services.

Dada Group (Nasdaq: DADA) has strengthened its position as China's largest local on-demand retail platform by partnering with approximately 30 leading supermarket chains, including MeetAll and Baijia Supermarket. JDDJ, Dada's platform, now collaborates with 75 of the top 100 supermarket chains in China, enhancing its market reach. Additionally, JDDJ has expanded its one-hour shopping service to lower-tier cities, making it accessible in provinces like Xinjiang and Gansu. The partnerships also include adopting Dada's Haibo System, further improving the digital capabilities of offline stores.

On June 10, 2021, Dada Group and JD.com released the "Chinese On-demand Consumption Trends Report 2021" highlighting key growth opportunities and challenges in China's on-demand economy. JD.com plans to increase its stake in Dada to 51% with an $800 million investment. The report indicates a surge in demand for on-demand retail, particularly in lower-tier cities, and notes that fresh food continues to dominate consumption, comprising 70%. The report demonstrates the increasing shift towards omnichannel retailing and outlines the rise of hyperlocal one-hour delivery services, with significant growth across various consumer demographics.

Dada Nexus Limited (NASDAQ: DADA) announced a share repurchase program totaling up to US$150 million over the next 12 months. The buyback will be funded through existing cash reserves and aims to enhance shareholder value. The program will be executed on the open market or through negotiated transactions, as market conditions permit. Dada operates JDDJ and Dada Now, two interconnected platforms that drive efficient on-demand retail and delivery services in China.

Dada Nexus Limited (NASDAQ: DADA) reported a strong Q1 2021 with total net revenues of RMB1,672.8 million, a 52.1% increase year-over-year. The Gross Merchandise Volume for JDDJ reached RMB28.1 billion, up 78.9%. Active consumers rose to 46.1 million compared to 27.6 million last year. The company expects Q2 revenue to grow by 72% to 78% year-over-year, driven by continued demand in its on-demand retail segment. However, operating losses widened to RMB741.4 million from RMB292.7 million in Q1 2020, indicating increased costs in marketing and operations.

Dada Group (Nasdaq: DADA) hosted a forum on May 25, 2021, titled "How to Gain Business Growth in Omni-channel Era" during the 2021 China International Retail Innovation Summit in Shanghai. Huijian He, Vice President of Dada Group, projected that China's on-demand retail market could reach nearly one trillion yuan by 2024. Jun Jiang emphasized JDDJ's role in connecting online and offline businesses, aiding retailers in reaching consumers more effectively. Yanjie Lian introduced the Dada Haibo system, highlighting its partnerships with over 3,600 stores to enhance operational efficiency.