Dada Group sees net revenue soar in Q2

Dada Group, China's leading local on-demand delivery and retail platform reported its net revenues reached 1.323 billion yuan ($187.3 million) in the second quarter of 2020, an increase of 93.1 percent year-on-year, while the orders delivered through Dada Now for the twelve months ending June 30 were 925.6 million, as compared with 561.6 million in the same period ending June 30, 2019.

Total gross merchandise volume of JD Daojia, the on-demand retail platform of Dada Group, for the twelve months ending June 30, 2020 came up to 18.3 billion, up 98.1 percent on a yearly basis.

The number of active consumers on JD Daojia for the twelve months ending June 30, 2020 was 32.3 million, as compared with 18.8 million in the same period ending June 30, 2019.

Philip Kuai, chairman and chief executive officer of Dada Group, said: "Our listing on the Nasdaq in June was an important milestone for our commitment to bringing people everything on demand."

Kuai added, underpinned by its strengthened cooperation with leading retailers and brand owners, as well as local on-demand delivery infrastructure, the company continues to capture consumer share, particularly within China's third- and fourth-tier cities.

"Looking ahead, we will continue to invest in technology that enhances customer experience and drives greater operating efficiency for our partners as we grow our business and create value for all of our stakeholders," said Beck Chen, chief financial officer of Dada Group.

Chen said they aim to grow JD Daojia revenue by 100 percent year-on-year in the second half of 2020, and will continue to closely cooperate with JD Retail to further explore new omnichannel initiatives.