According to the Smart Finance APP, Dada Nexus (DADA.US) announced its financial report for the second quarter of the 2024 fiscal year on Wednesday. The data shows that the company's Q2 revenue was 2.35 billion yuan, a YoY decrease of 9.5%; net loss was 0.286 billion yuan, compared to 0.159 billion yuan in the same period last year; basic and diluted loss per share was 0.27 yuan, compared to 0.15 yuan in the same period last year.

Regarding JD Instant Delivery, in the second quarter, the monthly average number of users and order volume on the JD App platform both grew by more than 100% YoY, maintaining strong growth momentum. The daily peak order volume of JD Instant Delivery on the online platform reached a new high, and at the same time, the penetration rate of Instant Delivery among JD users continued to increase on a month-on-month basis.

In August, Dada Express was renamed Dada Instant Delivery. In the first half of this year, Dada Instant Delivery achieved a business income of 2.6 billion yuan, a Year on Year growth of 51%, and the total number of completed orders increased by 15% to reach 1.23 billion.

In addition, Dada Nexus announced on Wednesday that Guo Qing, an advisor to JD.com, will assume the position of Chairman of the Board of Directors at Dada.

As of the time of writing, Dada Nexus rose 1.52% in pre-market trading to $1.34.