Dada Nexus Limited American Depositary Shares - DADA STOCK NEWS

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Dada Nexus Limited (NASDAQ: DADA) reported third quarter 2022 financial results, showcasing a 41.1% increase in total net revenues, reaching RMB2,380.1 million compared to RMB1,686.8 million in Q3 2021. The Gross Merchandise Volume (GMV) for JDDJ surged 58.3% year-over-year to RMB58.9 billion. Active consumers grew to 75.4 million, up from 57.1 million in the previous year. Despite a net loss of RMB454.3 million, the company improved its non-GAAP operating margin by over 15 percentage points year-over-year. Dada expects Q4 2022 revenues to be between RMB2,650 million and RMB2,750 million, indicating growth of 30% to 35% year-over-year.

Dada Group (Nasdaq: DADA) has achieved new records in sales and delivery during the 2022 Double 11 shopping festival, also known as Singles' Day. Over 200,000 physical stores participated, contributing to a remarkable 120 million orders delivered by Dada Now. JD Shop Now reported an 80% annual sales increase, with significant growth in electronics (170%) and groceries (190%). Furthermore, the one-cent grocery campaign enhanced FMCG orders by 40%. Dada Now’s extensive logistics network ensured timely fulfillment, solidifying its role in modern retail.

Dada Nexus Limited (NASDAQ: DADA), a leading local on-demand delivery and retail platform in China, will release its unaudited financial results for Q3 2022 on November 17, 2022, after U.S. market close. A conference call to discuss these results is scheduled for the same day at 8:30 p.m. ET (9:30 a.m. Beijing time). Participants must register in advance to join the call. Dada operates two inter-connected platforms: JDDJ and Dada Now, enhancing delivery experience and order volume.

Dada Group (Nasdaq: DADA), China's leading on-demand delivery platform, reported significant growth during the Double 11 Shopping Festival starting from October 31, 2022. Over 200,000 retail shops participated, doubling last year's numbers. Customers experienced rapid delivery, with the first order arriving in just nine minutes. Sales in electronics surged by 500%, while notable increases were seen in sports & outdoors (420%) and perfumes & cosmetics (210%). Dada has also enhanced its autonomous delivery capabilities, fulfilling over 60,000 orders. The company's innovative solutions continue to improve operational efficiency.

Dada Group (Nasdaq: DADA) reported significant sales growth during China's National Day Holiday from October 1 to 7, 2022. Sales of travel equipment surged, with outdoor shoes and sleeping bags increasing over 10 times year-over-year. Home entertainment products also saw a boom; VR glasses rose by 10 times and small refrigerators by 6 times. Gift purchases for the Double Ninth Festival led to a 10-fold increase in liquor sales. Overall, consumers embraced on-demand retail, driving spending on both travel and home-related items.

Dada Group's Dada Now has significantly contributed to job creation in China, with over 3 million new riders registered in 2021. The '2022 Dada Now Flexible Employment Report' highlights that 13% of these riders have purchased a car or house, while many have seen an improved quality of life. The platform also offers digitized order picking jobs, employing over 40,000 pickers, with 80% being women. Key findings include 70% of riders being married with children, and a majority valuing the platform's flexibility and earning potential.

Dada Now, the on-demand delivery arm of Dada Group (Nasdaq: DADA), was highlighted at the Intra-City Logistics Summit 2022 for its innovative autonomous delivery platform. Since its launch in July 2021, the platform has successfully processed over 50,000 supermarket orders, showcasing its efficiency and effectiveness. Bing Fu, General Manager of Dada Now, emphasized the evolution of fulfillment beyond mere delivery, advocating for integrated supply chain solutions. The platform's collaboration with major retailers like SEVEN FRESH enhances delivery services, reinforcing Dada Now's role in transforming intra-city retail logistics.

Dada Group's (Nasdaq: DADA) JDDJ and Shop Now have launched JD's first Shopping Festival of Agricultural Specialties, running from September 7-25, 2022. The festival features over 150,000 stores across 1,700 cities offering billions of yuan in consumption vouchers for agricultural products. Marketing campaigns like 'Fruit Festival' and 'Fresh Food Week' aim to enhance sales of fresh produce, seafood, and more. The initiative promotes consumer purchases through additional discounts, while Dada Now riders are engaging consumers with promotional leaflets during deliveries.