Dada Group will achieve profitability in Q2 of 2023, with overall revenue increasing by 23% year-on-year

According to news from this site on August 16, Dada Group, an instant retail and delivery platform, today released its second quarter performance report for 2023. Total revenue was 2.8 billion yuan, an increase of 23% over the same period last year. It is worth noting that adjusted net profit improved by more than 17 percentage points year-on-year to profitability, Dada Group achieved its first overall profit after listing.

According to financial report data, the JD Daojia platform achieved revenue of 1.8 billion yuan in the second quarter, a year-on-year increase of 25%. In the 12 months ending June 30, 2023, the total transaction volume (GMV) of JD Daojia platform reached 70.8 billion yuan, a year-on-year increase of 30%. In the second quarter, the number of annual active stores on the JD Daojia platform exceeded 300,000, a year-on-year increase of more than 70%

The revenue of Dada Express platform in the second quarter reached 1 billion yuan, a year-on-year increase of 20%, while Dada Express Delivery to active riders increased by more than 30% year-on-year in the second quarter

The following are the main business data of Dada Group attached to this site:

Dada express platform revenue reached RMB 1 billion , a year-on-year increase of 20%. The growth mainly comes from the increase in orders for intra-city instant delivery services provided to chain merchants.

JD Daojia platform revenue reached RMB 1.8 billion, a year-on-year increase of 25%. The growth was mainly due to the improvement of platform GMV. Based on the continued enrichment of brand and retailer activities, online marketing service revenue has also contributed to the growth of JD Daojia’s revenue.

In the same period of 2022, total costs and expenses decreased by RMB 100 million to RMB 2.9 billion

• Rider costs due to the increase in order volume for intra-city instant delivery business The increase, coupled with the increase in marketing activity costs, caused operating support costs to increase to RMB 1.7 billion Marketing expenses decreased to RMB 1.1 billion year-on-year

• Due to effective cost control measures and the reduction in share-based compensation expenses, comprehensive administrative expenses decreased to RMB 56 million year-on-year

• Due to the reduction in R&D labor costs, R&D expenses decreased by RMB 100 million year-on-year

• Under non-GAAP, Dada Group Net profit for ordinary shareholders was RMB 8.4 million, compared with a loss of RMB 400 million in the same period last year

As of June 30, 2023, the company’s total cash, cash equivalents, restricted cash and short-term investments At RMB 3.9 billion

Dada Group expects

total revenue in the third quarter of 2023 will be between RMB 2.8 billion and RMB 3 billion, a year-on-year increase of 18% to 26%

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