Dada Nexus Limited (Nasdaq: DADA), China's local real-time retail and distribution platform, released its unaudited financial results for the third quarter ended September 30. Dada Nexus Limited's revenue in the third quarter was 1.7 billion yuan. After adjusting the landing distribution business to the net income standard, the total revenue will accelerate by 86% compared with the same period last year, exceeding the upper limit of the guidelines and market expectations. Looking forward to the fourth quarter, the group's total revenue was between 2 billion and 2.1 billion yuan, up 88 to 97 per cent year-on-year in comparable terms.
Among them, Dada Nexus Limited's local real-time distribution platform Dada Express delivered revenue of Rmb600m. After adjusting the landing distribution business to the net income caliber, revenue increased by 90 per cent year-on-year. JD.com, Dada Nexus Limited's local real-time retail platform, reported an 84 per cent year-on-year increase in revenue in the third quarter to Rmb1.1 billion. In the 12 months to September 30, 2021, the total transaction volume (GMV) of JD.com 's home platform was 37.2 billion yuan, and the annual active consumers of the platform were 57.1 million.
"Dada Nexus Limited has always been committed to promoting the digital transformation and upgrading of the retail industry to bring a superior experience to consumers to meet their changing needs." Dada Nexus Limited founder, board chairman and CEO Jiaqi said, "We are very pleased to further deepen omni-channel strategic cooperation with JD.com, jointly tap the great potential of the real-time retail industry, and work together to create more value for retailers, brands and consumers, and contribute to the development of the real economy."
In the third quarter, Dada Nexus Limited once again achieved excellent results. It is believed that with the deepening of cooperation with retailers and brands, the strong performance will continue. " Chen Zhaoming, chief financial officer of Dada Nexus Limited, said, "We are heartened by the fact that total revenue has accelerated year-on-year growth in this quarter compared with the same period last year, while operating profit margins have been significantly optimized. Driven by a growing partner and user base, as well as improved operational efficiency, we are confident that we will achieve comparable revenue growth and profit margin optimization in the fourth quarter. "