Dada Nexus Ltd. (DADA) stock plunged during after-hour trading session. Here’s to know why?

Dada Nexus Ltd. (NASDAQ: DADA) stock gained by 3.65% at last close whereas the DADA stock price declines by 4.7% in the after-hours trading session. Dada is China’s most popular on-demand retail and delivery service. It runs JDDJ, one of China’s major local on-demand retail networks for retailers and brand owners, as well as Dada Now which is a prominent local on-demand delivery platform for merchants and individual senders across a variety of industries and product lines.

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DADA stock’ Financial Highlights

Dada Nexus Ltd. announced its second-quarter 2021 financial outcomes. The highlights are given below:

  • Total net revenues were RMB1,474.6 million, up 11.5 percent from the previous year. Revenue growth would have been 81.3 percent year over year if the revenue of Dada Now’s last-mile delivery services had been aligned on a comparable basis.
  • For the twelve months ended June 30, 2021, JDDJ’s total gross merchandise volume was RMB32.3 billion, up 76.7 percent from RMB18.3 billion for the same period ended June 30, 2020.
  • There were 51.3 million active consumers in the twelve months ending June 30, 2021, relative to 32.3 million in the same period ending June 30, 2020.

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Mr. Philip Kuai, Chairman and Chief Executive Officer of Dada stated,

Dada has a long history of serving the real economy, and they continue to expand alongside their brand partners and brick-and-mortar businesses. They applaud the tightening of regulations and are confident that it will benefit the industry’s long-term viability. They continue to cultivate solid partnerships with their retail and brand partners, working together to provide value for customers, thanks to their growing collaboration with JD. The technology infrastructure and high levels of innovation will continue to benefit their partners. They will concentrate on long-term value generation for the benefit of businesses and customers around the world, in tandem with Dada’s goal to deliver people everything on demand.

Beck Chen, Chief Financial Officer of Dada commented,

They are thrilled to report another successful quarter, and they anticipate that their strong growth momentum will persist as they extend their collaborations with retailers and brand owners, using their enhanced capabilities. In the second quarter, they had robust revenue growth that exceeded their high-end guidance.

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