Consumer Discretionary Author: Contributor, Dada Nexus Editor: Tao Ni Mar 09, 2022 06:18 AM (GMT+8)

Total net revenues in the fourth quarter and in 2021 generated from JDDJ were CNY 1,313.7 million and CNY 4,045.6 million, separately increased by 80% and 75% year over year

Dada

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 fourth quarter and fiscal year ended December 31, 2021.

Financial highlights:

Improvement in operating efficiency: Dada’s Q4 total revenue growth maintained strong at 80% YOY, and the non-GAAP net loss was CNY 485.4 million (USD 76.83 million), 11% better than the average analyst estimate of CNY 545 million on ThomsonOne.

Total net revenue in the fourth quarter and in 2021 were CNY 2,032.1 million and CNY 6,866.3 million. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis, revenue growth separately would have been 80% and 78% year over year.

Total net revenues in the fourth quarter and in 2021 generated from Dada Now were CNY 718.4 million and CNY 2,820.7 million. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis, revenue growth separately would have been 81% and 83% year over year.

Total net revenues in the fourth quarter and in 2021 generated from JDDJ were CNY 1,313.7 million and CNY 4,045.6 million, separately increased by 80% and 75% year over year.

Business Outlook: For the first quarter of 2022, Dada expects total revenue to be between CNY 2,000 million and CNY B2,050 million. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis in the first quarters of 2021 and 2022, total revenue of the first quarter of 2022 will realize 72% to 76% year-over-year growth1.

Operation highlights:

Total Gross Merchandise Volume (“GMV”) of JDDJ for the twelve months ended December 31, 2021 was CNY 43.1 billion, an increase of 71% year over year from CNY 25.3 billion in 2020, generated by 62.3 million active consumers during the period.

In 2021, as local on-demand retail platform, JDDJ’s market share in the supermarket segment by GMV has been increased to 27%, from 25% in 2020, according to iResearch Report.

JD.com’s investment in Dada has obtained all the requisite regulatory approvals and closed at the end of February, in which Dada issued to JD.com certain number of ordinary shares of Dada in consideration for USD 546 million in cash and certain strategic resources from JD.com. 

By the end of 2021, more than 70% of retail stores on JDDJ have been launched in Shop Now. In the fourth quarter of 2021, the GMV of Shop Now maintained a rapid growth of several times YoY. Nearby tab, the key LBS entrance for Shop Now, has covered major cities across the country.

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 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."

Contacts

Dada Group

E-mail: PR@imdada.cn