Dada Nexus reports Q3 EPS (RMB0.06) vs. (RMB0.01) last year

Reports Q3 revenue RMB930.2M vs. RMB1.54B last year, mainly due to a decrease in online advertising and marketing services revenues and a decrease in fulfillment services and other revenues as a result of the full rollout of delivery fee waiver program for orders exceeding RMB29 since February 2024. “Our customer-centric high-quality growth strategy and effective execution delivered impressive results in Q3,” said Chairman Kevin Qing Guo. “…The year-on-year growth in both monthly transacting users and orders through the JD App maintained strong momentum, increasing by over 100% in Q3. Optimization to customer experience also fueled the growth in repeat purchase rate. For Dada NOW3, we continued to strengthen our partnerships with chain merchants and further enhanced delivery service quality, contributing to a 46% year-over-year increase in revenue for the first nine months”. “We are pleased to have delivered solid results this quarter with sequentially accelerated growth in order volume and continuing improvements in operating efficiency,” said CFO Henry Jun Mao. “..Meanwhile, Dada NOW continued to experience meaningful year-over-year growth in revenue, primarily driven by the momentum in our chain merchant business. Additionally, as a result of our high-quality development strategy and ongoing efficiency optimization, our GAAP and non-GAAP net loss margins4 narrowed by 4.1 and 3.7 percentage points quarter over quarter, respectively.”