Dada Nexus (DADA.US) announced its unaudited financial results for the second quarter of 2024 on August 21. The total net revenue for the second quarter of 2024 was 2.35 billion yuan, a decrease of 9.5% compared to 2.597 billion yuan in the same period of 2023. The net loss for the second quarter of 2024 was 0.286 billion yuan, compared to 0.159 billion yuan in the same period of 2023. The basic and diluted loss per ordinary share for the second quarter was 0.27 yuan, compared to 0.15 yuan in the second quarter of 2023.
In terms of revenue, in the second quarter of 2024, JD Express had a net revenue of 0.912 billion yuan, compared to 1.616 billion yuan in the same period last year. Dada Express had a net revenue of 1.438 billion yuan, an increase of 46.6% year-on-year.
"I thank the board of directors for their trust and am honored to take on the role of chairman. Under the vision and leadership of the board of directors, we remain optimistic about the future journey of the instant retail and delivery industry," said Guoqing, Chairman of Dada Nexus Board of Directors. "In the second quarter of 2024, we have made significant progress in focusing on user experience and high-quality development. JD Instant Purchase achieved a year-on-year growth of over 100% in monthly transaction users and order volume in the second quarter of 2024 through the JD App. Dada Instant Purchase achieved a revenue growth of over 50% in the first half of 2024. Looking ahead, we will continue to work hard to implement our high-quality development strategy and create long-term and sustainable value for our shareholders, consumers, merchants and brand partners, delivery riders, and the whole society."
"In the second quarter of 2024, we continue to focus on optimizing customer experience and high-quality development," said Jun Mao, CFO of Dada. "We are pleased to see the strong growth momentum of core indicators such as order volume and user base of JD Instant Purchase through the JD App in this quarter, and we believe this will bring long-term market share growth. At the same time, Dada Instant Purchase once again achieved impressive revenue growth, mainly due to the outstanding performance of our chain merchant business. Due to our focus on quality, the GAAP and non-GAAP net loss rates increased by 1.2 and 1.8 percentage points respectively compared to the previous quarter."