Dada Announces Unaudited Fourth Quarter and Fiscal Year 2024 Financial Results

Core Viewpoint - Dada Nexus Limited reported a decline in total net revenues for both the fourth quarter and fiscal year 2024, primarily driven by decreased revenues from its JD NOW platform, while Dada NOW experienced significant growth in intra-city delivery services. Financial Results Summary Fourth Quarter 2024 Financial Results - Total net revenues were RMB2,432.7 million, a decrease of 11.6% from RMB2,752.2 million in the same quarter of 2023 [2][4] - Net revenues from JD NOW were RMB737.4 million, down 52.4% from RMB1,548.5 million in Q4 2023, mainly due to declines in online advertising and fulfillment services [6] - Dada NOW's net revenues increased by 40.8% to RMB1,695.3 million, driven by higher order volumes in intra-city delivery services [6] - Total costs and expenses were RMB3,712.9 million, down from RMB4,077.9 million in Q4 2023 [5] - Loss from operations was RMB1,257.3 million, an improvement from RMB1,314.7 million in the same quarter of 2023 [7] - Net loss was RMB1,227.0 million, compared to RMB1,282.4 million in Q4 2023 [7][8] Fiscal Year 2024 Financial Results - Total net revenues for 2024 were RMB9,663.8 million, an 8.0% decrease from RMB10,506.3 million in 2023 [9][10] - JD NOW revenues fell to RMB3,858.6 million, a 40.6% decline from RMB6,491.8 million in 2023 [10] - Dada NOW revenues rose by 44.6% to RMB5,805.2 million, supported by increased intra-city delivery orders [12] - Total costs and expenses for 2024 were RMB11,854.1 million, down from RMB12,678.6 million in 2023 [12] - Loss from operations for the year was RMB2,159.5 million, slightly higher than RMB2,108.5 million in 2023 [13] - Net loss for 2024 was RMB2,038.5 million, compared to RMB1,957.5 million in 2023 [13][14] Operational Metrics - The number of orders delivered increased significantly, with 2,873.4 million orders in 2024 compared to 2,191.0 million in 2023 [16] - Gross billings for on-demand delivery services reached RMB12,142.1 million in 2024, up from RMB9,883.2 million in 2023 [16] Share Repurchase Program - The company repurchased approximately 6.1 million American Depositary Shares for a total of approximately US$11.4 million as of December 31, 2024, under a US$40 million share repurchase program [17] ESG Performance - Dada received an ESG score of 49 from the S&P Global Corporate Sustainability Assessment, an increase from 37 in September 2023, reaffirming its industry-leading position in ESG [20]