21st Century Economic Reporter Kong Haili reports from Beijing
On November 15th, Nasdaq: DADA released its performance report for the third quarter of 2023. The financial report shows that in the third quarter, Dada Group's total revenue was 2.9 billion yuan, a year-on-year increase of 20%, and its dual platform revenue showed double-digit growth year-on-year.
Among them, the revenue of Dada Express in the third quarter was 1.1 billion yuan, a year-on-year increase of 29%, and the platform's active Knight in the third quarter increased by over 20%.
The revenue of JD Home platform in the third quarter was 1.8 billion yuan, a year-on-year increase of 16%. As of September 30, 2023, the total transaction volume (GMV) of JD Home platform was 73.1 billion yuan, a year-on-year increase of 24%. As of the end of September 2023, JD has over 400000 door-to-door stores.
After achieving its first overall profit after going public in the second quarter of this year, Dada Group had a net loss of 9.2 million yuan under non US GAAP in the third quarter. The company expects total revenue to be between 3 billion yuan and 3.3 billion yuan in the fourth quarter of 2023, a year-on-year increase of 12% to 23%.
In the third quarter, Dada Group further deepened its collaboration with JD Group and strengthened its real-time retail business. In October, JD released the "Happiness Three Kilometers" model of real-time retail, which is led by JD's open platform and revolves around the three elements of real-time retail: real-time demand, local supply, and real-time delivery. It provides three core capabilities: digitalization, local supply chain integration, and real-time delivery, achieving an efficient closed-loop model of "consumer ordering, store shipping, and product delivery within an hour" within 3-5 kilometers. JD stated that real-time retail is an important part of JD's efforts to create a "fast, efficient" consumer experience.
During JD's November 11th period, the total order volume of Dada Express delivery reached 200 million. On November 11th, JD's hourly delivery volume increased by 45% year-on-year.