The following is a summary of the Dada Nexus Limited (DADA) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Dada Nexus reported Q4 revenues of CNY 2.75 billion, up 3% year-over-year. Gross margin improved by 1% point year-over-year.

• Operations and support cost increased due to the increase in rider cost because of the increasing order volume. Non-GAAP net loss was CNY 159 million, showing an improvement from a loss of CNY 179 million in the previous year.

• As of the end of 2023, the company had CNY 4 billion in cash, cash equivalents, restricted cash, and short-term investments.

Business Progress:

• Dada Group formed strategic partnerships with JD.com and other major appliance brands such as Panasonic and Robam and leading smart locks manufacturers like Kaadas, leading to a 50% increase in Xiaoshigou users year-on-year. The company also saw a significant increase in GMV in the liquor, apparel, and home appliance category year-over-year.

• The company's Dada Now platform had more than 1.2 million annual active riders by the end of 2023, an increase of over 20% from the previous year. This led to an increase in orders fulfilled by KA business. For 2024, Dada Nexus plans to balance high-quality growth with steady profitability improvement.

More details: Dada Nexus IR

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