Shulou(Shulou.com)11/24 Report--

Sina Science and Technology News Beijing time on August 23 morning news, Nasdaq:DADA Group (Nasdaq:DADA) today announced the company's financial results for the second quarter of fiscal year 2022 as of June 30, 2022. According to the report, the total net income of Dada Group in the second quarter was 2.2811 billion yuan, compared with 1.4746 billion yuan in the same period last year, and the net loss was 578.8 million yuan, compared with a net loss of 640.4 million yuan in the same period last year. The net loss attributable to the company's common shareholders was also 578.8 million yuan, compared with 640.4 million yuan for the same period last year, narrowing year-on-year.

According to data provided by Yahoo Finance Channel, six Wall Street analysts had on average expected Dada Group's total net revenue of $329.72 million in the second quarter. Dada Group's total net revenue in the second quarter was 2.2811 billion yuan (about $340.6 million at 6.6981 to the dollar as of June 30, 2022), exceeding analysts' expectations, according to the financial report.

In addition, on average, five Wall Street analysts had expected a loss of $0.25 per share in the second quarter, not in accordance with GAAP. The financial results show that, not in accordance with US general accounting standards, Dada Group's basic loss per share and diluted loss per share in the second quarter were both 0.41 yuan (at the exchange rate of 6.6981 yuan to the dollar as of June 30, 2022, or about US $0.06), which beat analysts' expectations.

Performance Summary:

-Dada Group's total net revenue in the second quarter was 2.2811 billion yuan.

-in the 12 months to June 30, 2022, JD.com 's total home transaction volume (GMV) was 54.6 billion yuan, an increase of 68.9% compared with 32.3 billion yuan in the 12 months to June 30, 2021.

-the number of active consumers in the 12 months ended June 30, 2022 was 72.8 million, compared with 51.3 million in the 12 months ended June 30, 2021.

In the second quarter, JD.com further deepened omni-channel O2O cooperation with Dada Group, and the GMV purchased by JD.com during the hour increased more than twice as much as the same period last year. Hourly merchant cooperation and commodity supply were further expanded, JD.com 's high-quality grid coverage was optimized, and the search exposure rate increased by 3 percentage points compared with the previous month. JD.com 's App "nearby" channel currently covers all cities across the country that have opened cities for hourly purchases. GMV on the "nearby" channel grew by more than 80 per cent month-on-month, driven by increased exposure, click-through rates and conversion rates.

"with the trust of partners and strong digital capabilities, Dada Group is in a unique position in the ever-changing consumer environment." Ji Jiaqi, founder, Chairman and CEO of Dada Group, said, "We are proud of our sound performance in the face of macro uncertainties, thanks to the valuable support of our employees, customers and strategic partners. Conforming to the consumption trend of on-demand shopping, and making use of our 'twin-engine' business composed of JD.com and Dada Express, we are fully prepared and will move towards a brighter future. "

Financial Analysis:

Revenue

Dada Group's total net revenue in the second quarter was 2.2811 billion yuan, compared with 1.4746 billion yuan in the same period last year.

Dada Group's net revenue from Dada Express in the second quarter was 815.6 million yuan, compared with 593.5 million yuan in the same period last year. Dada Express's second-quarter net revenue rose 37.4% from a year earlier, mainly due to an increase in orders for intra-city express services provided to chain stores.

The net income of Dada Group from JD.com 's home in the second quarter was 1.4655 billion yuan, compared with 881.1 million yuan in the same period last year, an increase of 66.3% over the same period last year. This is mainly due to the increase in the number of active consumers and the average order size, which contributed to the year-on-year growth of the total transaction volume. Revenue from online marketing services has increased as more and more promotions have been carried out by brand owners and retailers, as well as net revenue growth from JD.com.

Cost and expenditure

Dada Group's total costs and expenses were 2.9093 billion yuan in the second quarter, compared with 2.2058 billion yuan in the same period last year.

Dada Group's operating and support costs were 1.4313 billion yuan in the second quarter, compared with 1.1365 billion yuan in the same period last year. This increase is mainly due to an increase in the number of orders for intra-city delivery services provided to various chains on Dada Express and retailers on JD.com 's home delivery platform, resulting in an increase in riders' costs.

Dada Group's sales and marketing expenses were 1.1902 billion yuan in the second quarter, compared with 824.2 million yuan in the same period last year. This increase is mainly due to: (1) higher incentive fees for JD.com 's home consumers; (2) increased advertising and marketing expenses aimed at attracting new consumers to JD.com 's home platform; and (3) amortization expenses related to the share subscription transaction reached between JD.com and February 2022.

Dada Group's general and administrative expenses were 99.9 million yuan in the second quarter, compared with 100.1 million yuan in the same period last year, which was basically the same as the same period last year, mainly due to the company's efficient expenditure control measures.

Dada Group spent 160 million yuan on research and development in the second quarter, compared with 132.3 million yuan in the same period last year. This growth is mainly due to the increase in the cost of R & D personnel as the company continues to strengthen its technical capabilities.

Operating loss

Dada Group posted an operating loss of 608.7 million yuan in the second quarter, compared with an operating loss of 665.8 million yuan a year earlier.

Without US GAAP, Dada Group posted an operating loss of RMB 424.2 million in the second quarter, compared with an operating loss of RMB 573.3 million in the same period last year.

Net loss

Dada Group posted a net loss of 578.8 million yuan in the second quarter, compared with a net loss of 640.4 million yuan a year earlier.

Not in accordance with US GAAP, Dada Group posted a net loss of RMB 395.6 million in the second quarter, compared with a net loss of RMB 549.2 million in the same period last year.

Dada Group posted a net loss of RMB 578.8 million attributable to common shareholders in the second quarter, compared with a net loss of RMB 640.4 million attributable to common shareholders in the same period last year.

Not in accordance with US GAAP, Dada Group recorded a net loss of RMB 395.6 million attributable to common shareholders in the second quarter, compared with a net loss of RMB 549.2 million in the same period last year.

Loss per share

Dada Group's basic loss per share and diluted loss per share in the second quarter were both 0.60 yuan, compared with 0.67 yuan per share in the same period last year.

Not in accordance with US general accounting standards, Dada Group's basic loss per share and diluted loss per share were both 0.41 yuan in the second quarter, compared with 0.58 yuan per share in the same period last year.

Cash situation

As of June 30, 2022, the total amount of cash, cash equivalents, restricted cash and short-term investments held by Dada Group was 4.3502 billion yuan, compared with 1.7648 billion yuan as of December 31, 2021.

Stock repurchase

Under the $70 million share repurchase program announced in March 2022, as of June 30, 2022, the Dada Group had repurchased approximately $32.7 million worth of American depositary shares under the repurchase program.

Performance outlook:

For the third quarter of fiscal 2022, Dada expects its total revenue to reach between 2.35 billion and 2.45 billion yuan, up 39 to 45 per cent from a year earlier. This performance outlook is based on information available as of the date of this press release and reflects the company's current and preliminary expectations that may change in the future due to uncertainties, including those related to the ongoing novel coronavirus pandemic.

Changes in stock prices:

On the same day, Dada Group shares rose 28 U.S. dollars, or 4.48 percent, to close at 6.53 U.S. dollars in regular Nasdaq trading. In after-hours trading as of 06:23 EDT on the 22nd (06:23 Beijing time on the 23rd), Dada shares rose 13 cents, or 1.99 per cent, to $6.66. In the past 52 weeks, the highest price of Dada Group is $26.90 and the lowest price is $5.00.

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