Mar 15, 2022|
Dada’s Q4 and Fiscal Year 2021 Updates: Q4 Revenue Growth Maintained Strong at 80% YOY
On March 8, Dada Nexus Limited (Dada Group), China’s leading local on-demand delivery and retail platform, announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2021.
- Improvement in operating efficiency: Dada’s Q4 total revenue growth maintained strong at 80% YOY, and the non-GAAP net loss was RMB485.4 million, 11% less than the average analyst estimate of RMB545 million on ThomsonOne.
- Total net revenue in the fourth quarter and in 2021 were RMB2,032.1 million and RMB6,866.3 million. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis, revenue growth separately would have been 80% and 78% year over year.
- Total net revenues in the fourth quarter and in 2021 generated from Dada Now were RMB718.4 million and RMB2,820.7 million. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis, revenue growth separately would have been 81% and 83% year over year.
- Total net revenues in the fourth quarter and in 2021 generated from JDDJ were RMB1,313.7 million and RMB4,045.6 million, increased by 80% and 75% respectively year over year.
- Business Outlook: For the first quarter of 2022, Dada expects total revenue to be between RMB2,000 million and RMB2,050 million. Aligning the revenue of Dada Now last-mile delivery services to a comparable basis in the first quarters of 2021 and 2022, total revenue of the first quarter of 2022 will realize 72% to 76% year-over-year growth1.
- Total Gross Merchandise Volume (“GMV”) of JDDJ for the twelve months ended December 31, 2021 was RMB43.1 billion, an increase of 71% year over year from RMB25.3 billion in 2020, generated by 62.3 million active consumers during the period.
- In 2021, as local on-demand retail platform, JDDJ’s market share in the supermarket segment by GMV has been increased to 27%, from 25% in 2020, according to iResearch Report.
- com’s investment in Dada has obtained all the requisite regulatory approvals and closed at the end of February, in which Dada issued to JD.com certain number of ordinary shares of Dada in consideration for US$546 million in cash and certain strategic resources from JD.com.
- By the end of 2021, more than 70% of retail stores on JDDJ have been launched in Shop Now. In the fourth quarter of 2021, the GMV of Shop Now maintained a rapid growth of several times YoY. Nearby tab, the key LBS entrance for Shop Now, has covered major cities across the country.
Please find the full version of the financial report here.