SHANGHAI, China, November 24, 2021 /Dada Group/ – Dada Group (DADA: NASDAQ) ('Dada'), China's leading local on-demand delivery and retail platform, today announced its unaudited financial results for the third quarter ended September 30, 2021.
On November 23, 2021, Dada Nexus Limited (NASDAQ: DADA), China's leading local on-demand delivery and retail platform announced its unaudited financial results for the third quarter ended September 30, 2021.
Total net revenues were CNY 1,686.8 million, which is above the Street's expectation of CNY 1,625.0 million and the company's high-end guidance of revenue outlook. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis, revenue growth would have been 86.4% year over year, an acceleration compared with 81% revenue growth in the second quarter.
Significant improvement in operating efficiency: Aligning the revenue of Dada Now last-mile delivery services to a comparable basis, operating profit margin substantially improved by over 16 percentage points.
For the fourth quarter of 2021, Dada expects total revenue to be between CNY 2.0 billion and CNY 2.1 billion. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis in the fourth quarters of 2020 and 2021, the total revenue of the fourth quarter of 2021 will realize 88% to 97% year-over-year growth.
The total Gross Merchandise Volume (GMV) of JDDJ for the twelve months ended September 30, 2021, was CNY 37.2 billion.
Deepen ties with JD in Q3 2021. In October, Dada Group and JD.com jointly launched 'Shop Now' or 'Xiaoshigou,' a unified brand for all on-demand retail services within the JD ecosystem. Through Shop Now, users can access on-demand services via multiple channels on JD, including the 'Nearby' tab on the homepage of JD.com's app.
"Dada has always been committed to driving digital transformation in the retail industry and providing consumers with superior experience to meet the evolving demands," said Mr. Philip Kuai, Chairman and Chief Executive Officer of Dada. "We are excited to strengthen strategic cooperation with JD under the omni-channel strategy to explore the enormous potential in the on-demand retail industry. We will continuously work together to create more value for retailers, brands and consumers and serve the development of the real economy."