Dada Nexus Q4 revenue surges 80%

Dada Nexus Ltd, China's leading local on-demand delivery and retail platform, reported on Wednesday its total net revenue reached 2.0 billion yuan ($316.6 million) in the fourth quarter, up 80 percent year-on-year.

Total 2021 gross merchandise volume of JD Daojia, the on-demand retail platform of Dada Group, was 43.1 billion yuan, an increase of 70.5 percent year-on-year, while the number of active consumers on JD Daojia last year reached 62.3 million, compared with 41.3 million in 2020.

Total net revenue in the fourth quarter from Dada Now, the local on-demand delivery platform of Dada Group, stood at 718.4 million yuan, up 81 percent on a yearly basis.

"We are excited to announce that JD's investment in Dada was completed by the end of February 2022 and we are looking forward to further deepened strategic cooperation with JD. Entering 2022 together with JD, we are poised to advance on the journey of empowering the digital transformation of the real economy, while serving consumers with everything on-demand," said Philip Kuai, chairman and CEO of Dada Group.

Chinese e-commerce giant JD and Dada jointly announced in February that JD's investment in Dada is expected to be completed by the end of February 2022. JD will hold, taking into account its existing shareholding, approximately 52 percent of Dada's issued and outstanding shares.

JD's investment will further deepen omni-channel collaboration with Dada. Leveraging JD's devoted strategic resources support, Dada will better fulfill demand for local on-demand retail and its delivery on JD, the company said.