Dada Nexus reports Q1 non-GAAP EPS (RMB0.18) vs. (RMB0.18) last year

Reports Q1 revenue RMB2.45B vs. RMB2.54B last year. “We are pleased to announce that our on-demand retail service has been upgraded to JD NOW, aiming to bring quality goods to consumers at top-notch speeds. With the introduction of the new brand, we have entered a new chapter with a focus on building a sustainable ecosystem,” said Interim President Bing Fu. “Notably, the number of monthly transacting users1 and orders through the JD App increased by over 70% in Q1 and by over 100% in April year over year. For Dada Now, we continue to strengthen partnerships with chain restaurant and beverage customers while consolidating our leading position among supermarket chains, with year-over-year revenue growth in the first quarter reaching the highest of the past eight quarters. CFO Henry Mao said, “While the voluntary business adjustment and investment in user experience may bring pressure to JD NOW’s overall revenue growth in the near future, we are encouraged to see that our core metrics including user growth have resumed strong growth momentum, which strengthens our confidence on the path towards market leadership. Dada Now continued to deliver robust revenue growth that significantly outpaced the on-demand delivery industry. Despite the investments in core business to uplift customer experience, in the quarter, our non-GAAP net loss margin remained largely stable year over year.”