On November 14th, Beijing time, China's leading local instant retail and delivery platform, Dada Group (DADA), released its third quarter 2024 performance report, showing sustained high-quality business growth and continuous improvement in profitability. In the third quarter, the monthly average number of users and orders placed by JD.com on the JD.com app continued to grow rapidly, with year-on-year growth rates exceeding 100%. The penetration rate of "Instant Delivery" among JD users continues to increase month on month, providing more JD users with "Good Things for Enjoyment" services. In terms of store coverage, as of the end of September, the number of JD's instant delivery service stores exceeded 600000, a year-on-year increase of over 70%. User experience optimization has also driven significant growth in high-frequency users and repeat purchase rates, with the number of high-frequency users in the JD App market doubling year-on-year in the third quarter. In addition, during the just passed JD 11.11 period, the daily peak of online order volume for instant delivery once again reached a historical high.
Dada's delivery orders continue to maintain strong growth, with revenue increasing by 46% year-on-year in the first nine months of this year. In the third quarter, Dada Express continued to deepen its cooperation with chain merchants and improve the quality of its delivery services, with a year-on-year increase of 36% in total completed orders to 648 million orders.
Thanks to the continuous optimization of overall marketing and operational efficiency, Dada Group's Non GAAP net loss rate continued to narrow month on month in the third quarter, and its profitability continued to improve.