Dada Q1 revenue jumps 74%

Dada Nexus Ltd, China's leading local on-demand delivery and retail platform, reported its total net revenues in the first quarter of 2022 came up to 2.0 billion yuan ($296.8 million), surging 74 percent year-on-year.

Net revenues generated from Dada Now, the local on-demand delivery platform of Dada Group, were 623.1 million yuan in the first quarter, while revenues generated from JD Daojia, the on-demand retail platform of Dada, reached 1.4 billion yuan, representing an 80 percent increase year-on-year.

The total gross merchandise volume of JD Daojia for the twelve months ended March 31 was 49.1 billion yuan, an increase of 74.4 percent on a yearly basis from 28.1 billion yuan in the same period in 2021.

In addition, research and development expenses amounted to 164.7 million yuan, compared with 124.2 million yuan in the same quarter of 2021.

"Since the completion of JD's increased investment in Dada, we have further strengthened collaboration under the omni-channel strategy, to jointly explore the huge potential in the on-demand retail industry," said Philip Kuai, chairman and CEO of Dada.

Kuai added that amidst macro challenges, the company will stay focused to expand offerings to customers and enable local merchants to succeed in the digital age. At present, e-commerce giant JD has approximately 52 percent of Dada's shares.

During the COVID-19 pandemic resurgence in cities including Shenzhen, Shanghai and Beijing, Dada has been actively involved in pandemic support initiatives to ensure the supply and delivery of daily necessities.

fanfeifei@chinadaily.com.cn