Shares of Dada Nexus (DADA -6.95%) were taking a dive this week after the Chinese grocer and online delivery platform said in an SEC filing that an audit revealed certain suspicious practices that "may cast doubt" on revenues from the company's online advertising and marketing services.It also said that its revenue from online advertising and marketing services was overstated by roughly $70 million in the first three quarters of 2023, and that its revenue guidance for the fourth quarter was no longer valid. ...

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Dada Nexus Limited (“Dada” or the “Company”) (NASDAQ: DADA). The investigation concerns whether Dada and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. On January 8, 2024, Dada disclosed that an internal audit had identified “certain suspicious practices” that “may cast doubt on certain revenues from the Company’s online advert ...

Core Viewpoint - Wolf Popper LLP is investigating potential securities fraud claims against Dada Nexus Limited following the company's disclosure of overstated revenues and costs, leading to a significant drop in its stock price [1] Group 1: Company Disclosure - Dada Nexus Limited revealed "suspicious practices" and acknowledged that its revenues from online advertising and marketing services were overstated by approximately $47 million for the first three quarters of 2023 [1] - The company advised investors to no longer rely on its previous revenue guidance for the fourth quarter [1] Group 2: Market Reaction - Following the announcement, Dada's American Depositary Shares (ADS) price fell by $1.45 to $1.71, representing a decline of 45.9% on heavy trading volume [1] Group 3: Investor Impact - Investors who incurred losses exceeding $25,000 from trading Dada's ADS are encouraged to discuss the investigation with Wolf Popper LLP [1]

OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Dada Nexus Limited (“Dada”) plunged over 36% in intraday trading on January 8, 2024, after disclosing that it had identified some “suspicious practices” in a routine internal audit, and that its revenue guidance for the fourth quarter and full year of 2023 should no longer be relied upon. Gibbs Law Group is investigating a Dada Nexus Securities Class Action Lawsuit on behalf of shareholders who lost money in Dada Nexus Limited (NASDAQ: DADA). To speak with a me ...

ATLANTA, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether Dada Nexus Limited ("Dada Nexus" or the "Company") (NASDAQ:DADA) complied with federal securities laws.  On January 8, 2024, Dada Nexus announced that "certain suspicious practices were identified that may cast doubt on certain revenues from the Company's online advertising and marketing services in 2023." The Company stated that previously issued revenue guidance for full year and fourth quarter 2023 should no longer b ...

BOSTON, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Dada Nexus Ltd. ADR (NASDAQ:DADA) for potential securities law violations. Investors who have lost money in their Dada Nexus Ltd. ADR investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/dada. What is this all about? Before the market opened on January 8, 2024, Dada Nexus disclosed having identified suspicious practices in a routine audi ...

Financial Data and Key Metrics Changes - Total net revenues increased by 20% year-over-year to RMB2.9 billion, with adjusted net margin improving by 11 percentage points [5][18] - Non-GAAP net loss attributable to ordinary shareholders was RMB9 million, a significant improvement from a loss of RMB270 million in Q3 2022 [20] Business Line Data and Key Metrics Changes - Net revenues from Dada Now increased by 29% to RMB1.1 billion, driven by increased order volume for intracity delivery services [18] - Net revenues from JDDJ increased by 16% to RMB1.8 billion, primarily due to an increase in GMV and online marketing services revenue [18] Market Data and Key Metrics Changes - JDDJ onboarded more than 400,000 retail stores, with partnerships established with 93 out of the top 100 supermarket chains in China [8] - GMV for convenience stores grew more than 8 times year-over-year, while GMV for the liquor category more than tripled year-over-year [12][16] Company Strategy and Development Direction - The company aims to facilitate on-demand retail consumption of over RMB1 trillion in the next five years and drive digital transformation for over 2 million brick-and-mortar stores [6] - The five-year plan focuses on consumption, digitalization, and employment, aligning with the strategy for healthy growth in a vibrant community [17] Management's Comments on Operating Environment and Future Outlook - Management noted a recovery in the consumption market, particularly in the supermarket category during the Double 11 shopping festival, despite initial softness in consumer electronics [24] - The company remains optimistic about the long-term increase in O2O penetration and plans to consolidate strengths on the supply side [25] Other Important Information - The Hongtu marketing tool was launched to improve marketing efficiency for brands, with pilot brands seeing a 12% increase in conversion rates [15] - The delivery fee waiver campaign led to improved conversion and retention rates in the supermarket category [41] Q&A Session Summary Question: Trends in Singles Day growth and future consumption - Management observed a decent recovery in growth rates during the Double 11 shopping festival, particularly in the supermarket category, and noted that spending on services continues to outpace physical goods [24][25] Question: Cooperation with JD.com and traffic allocation - Management reported that cooperation with JD.com has strengthened, with significant growth in Xiaoshigou users and improved traffic allocation benefiting Shansong growth [25][27] Question: JDDJ unit economics and future drivers - The monetization rate for JDDJ increased to 10%, with a decrease in consumer incentives to 3.3%, indicating improved unit economics [31] Question: Demand trends post Singles Day and rider costs - Management indicated that it is too early to evaluate post-Singles Day trends, but rider costs have increased due to higher order volumes, with expectations of a decrease in per unit costs year-over-year in Q4 [38] Question: Impact of delivery fee waiver and live streaming initiatives - The delivery fee waiver campaign improved conversion and retention rates, while live streaming events during Singles Day showed promising initial results [41][42] Question: Revenue growth expectations for Dada Now and JDDJ - Management expects both platforms to grow at similar speeds in the following quarters, with the supermarket category accounting for close to 50% of GMV [45]

Dada Nexus Limited (NASDAQ:DADA) Q2 2023 Earnings Conference Call August 15, 2023 9:30 PM ET Company Participants Caroline Dong - Head, IR Jeff Huijian He - President and Director Beck Chen - CFO Conference Call Participants Ronald Keung - Goldman Sachs Thomas Chong - Jefferies Alicia Yap - Citigroup Lei Zhang - Bank of America Securities Andre Chang - JPMorgan Wei Xiong - UBS Operator Good morning, ladies and gentlemen, and thank you for standing by for Dada's Second Quarter 2023 Earnings Conference Call. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...