Dada Nexus Limited American Depositary Shares - DADA STOCK NEWS

Dada Group (Nasdaq: DADA) announced on March 15, 2023, that its on-demand delivery platform, Dada Now, has launched an automobile delivery service across over 60 cities in China. This initiative aims to support small and medium enterprises (SMEs) and has already fulfilled more than 3.3 million orders, covering over 38 million kilometers. The new service enables faster delivery—20 minutes quicker than electric vehicles for intra-city long-distance orders—and accommodates heavier and delicate products. Established in July 2021, Dada Now also incorporates electric and autonomous vehicles, enhancing its delivery efficiency.

Dada Nexus Limited (DADA), China's top local on-demand delivery and retail platform, reported strong financial results for Q4 and fiscal year ended December 31, 2022. Q4 net revenues soared to RMB2,681.0 million, a 31.9% year-over-year increase, while full-year revenues reached RMB9,367.6 million, up 36.4% from 2021. Active consumers surged to 78.6 million from 62.3 million. Despite this growth, the company experienced a net loss of RMB2,008.0 million for the year, but improved its margin, reducing losses significantly compared to 2021. The first quarter 2023 guidance predicts revenue growth of 27%-37%, reflecting confidence in ongoing momentum.

Dada Nexus Limited (NASDAQ: DADA) announced it will release its unaudited financial results for Q4 and fiscal year ending December 31, 2022, on March 8, 2023, after U.S. market close. The conference call for discussion will be held at 8:30 PM ET on the same day. Interested participants must register in advance and dial in 10 minutes prior to the call. A telephone replay will be available until March 15, 2023, along with a live and archived webcast on the company's Investor Relations page. Dada operates leading platforms for local on-demand retail and delivery in China, specifically through JDDJ and Dada Now.

On Valentine's Day 2023, JD Shop Now, a joint venture of JD.com and Dada Group, reported significant surges in sales, particularly in flowers, which increased over threefold compared to the previous week. Sales on February 14 comprised 60% of total festival sales from February 11 to 14. Searches for gifts rose dramatically, with beauty sets, perfumes, and jewelry ranking as top picks for women. Men preferred game machines and electric razors. Spending on pets also grew, with notable increases in pet-related products. The partnership enhances JD's delivery capabilities, connecting consumers with nearby stores.

JD Shop Now reported a remarkable 90% increase in sales during the Chinese Spring Festival compared to last year. The demand for festive items surged with search volumes for decorations increasing over 3.5 times. Gift boxes, alcoholic beverages, and electronics were among the top sellers, with New Year’s Eve orders up by 171%. Noteworthy year-over-year growth was seen in mobile phone sales (70%), cosmetics (120%), and home appliances (226%). Dada Group, in partnership with JD.com, launched the Shop Now service, enhancing on-demand retail capabilities.

JD.com's omnichannel retail platforms, JDDJ and JD Shop Now, launched the JD Intra-city Chinese New Year Grand Promotion on December 26, 2022. This initiative aims to provide uninterrupted on-demand shopping services during the festive period, leveraging over 200,000 physical stores and the Dada Now delivery network. Sales data indicates a significant increase in demand for food items, gift boxes, and electronics, with certain products seeing sales growth exceeding 500%. Online orders for delivery to other cities surged by 118%, showcasing changing consumer habits during the holiday season.

Dada Group (Nasdaq: DADA) highlights its achievements in 2022, showcasing the expansion of on-demand retail that integrates online and offline shopping. Key developments include a strengthened collaboration with JD.com, producing over 120 million orders during the Double 11 shopping festival and achieving a 50% sales growth for new JD Shop Now participants. Dada's autonomous delivery system has fulfilled over 60,000 orders efficiently. The company is committed to social responsibility, creating jobs and supporting its delivery riders through improved welfare and training initiatives.

Dada Group (Nasdaq: DADA) launched its CNY Shopping Festival on Dec. 16, 2022, with a theme focused on family and gift-sharing. The festival will run until Feb. 5, 2023, and involves over 200,000 offline stores to provide consumers with competitive prices and quality products. A major initiative, 'New Store Support,' aims to assist more than 35,000 newly onboarded stores with marketing resources to enhance their growth. Additionally, the 'JD CO-MARKETING PLAN' will leverage marketing resources valued at 800 million exposures to support brands and retailers.

Dada Group has introduced food and beverage packages for football fans through JDDJ and JD Shop Now, enhancing the shopping experience during the ongoing football tournament. Between Nov. 21 and Dec. 11, nighttime orders surged to nearly 30% of total orders, significantly boosting sales across multiple categories, including snacks and sportswear, which saw a tenfold increase year-on-year. Demand for tech like VR headsets and projectors also rose. Dada Now is distributing winter accessories to its riders as part of a community initiative. Dada Group trades on Nasdaq under the ticker symbol 'DADA'.