Sina Science and Technology News On the morning of November 24, Beijing time, it is reported that, Dada The Group (Nasdaq: DADA) today announced its financial report for the third quarter of fiscal year 2021. The report shows that the total net revenue of Dada Group in the third quarter was 1.6868 billion yuan, compared with 1.3015 billion yuan in the same period last year; The net loss was 542.7 million yuan, compared with 434.0 million yuan in the same period of the previous year, an increase compared with the same period of the previous year; The net loss not in accordance with the US GAAP was 450.1 million yuan, compared with 324.0 million yuan in the same period last year.
According to the data provided by Yahoo Finance Channel, five analysts on Wall Street had expected on average that the total net revenue of Dada Group in the third quarter would reach $254.38 million. The financial report shows that the total net revenue of Dada Group in the third quarter was 1.6868 billion yuan.
In addition, four analysts on Wall Street had previously expected that the third quarter loss per share of Dada Group would reach US $0.33 in violation of the US GAAP. The financial report shows that the basic loss per share and diluted loss per share of Dada Group in the third quarter were both 0.48 yuan in violation of the US GAAP.
Performance summary:
-The total net revenue of Dada Group in the third quarter was 1.6868 billion yuan, compared with 1.3015 billion yuan in the same period of the previous year.
-For the 12 months ended September 30, 2021, JD.COM The total transaction volume (GMV) reached home was 37.2 billion yuan, an increase of 74.6% compared with 21.3 billion yuan in the 12 months ended September 30, 2020.
-In the 12 months ended September 30, 2021, the number of active consumers was 57.1 million, compared with 37.3 million in the 12 months ended September 30, 2020.
"Dada Group has always been committed to promoting the digital transformation and upgrading of the retail industry, bringing excellent experience to consumers to meet their changing needs." Kuai Jiaqi, founder, chairman of the board of directors and CEO of Dada Group, said, "We are very happy to further deepen the omni channel strategic cooperation with JD, jointly tap the huge potential of the instant retail industry, and work together to create more value for retailers, brand merchants and consumers to help the development of the real economy."
"In the third quarter, Dada Group again achieved excellent results. It is believed that with the deepening of cooperation with retailers and brand names, the strong performance will continue." Chen Zhaoming, Chief Financial Officer of Dada Group, said, "The total revenue of comparable caliber in this quarter has achieved accelerated growth on a comparable basis, while operating profit margin has been significantly optimized, which makes us excited. Driven by the expanding base of partners and users, and the improvement of operational efficiency, we are confident that in the fourth quarter, we will further accelerate the growth of revenue under comparable standards Long and Profit margin optimization. "
Financial analysis:
revenue
The total net revenue of Dada Group in the third quarter was 1.6868 billion yuan, compared with 1.3015 billion yuan in the same period of the previous year.
In the third quarter, the net revenue of Dada Group from Dada Express was 614.3 million yuan, compared with 719 million yuan in the same period last year. The difference compared with the third quarter of 2020 is mainly due to the fact that since April 2021, the rider cost of landing distribution service will be paid directly through a third-party company rather than through Dada Group. Therefore, Dada Group no longer recognizes the income and costs related to riders. After adjusting the landing distribution business to the net income caliber, the net revenue of Dada Express increased by 90.5% year on year, mainly due to the increase in the number of orders for express services in the city provided to chain stores.
In the third quarter, the net revenue of Dada Group from JD Home was 1.072.5 billion yuan, compared with 582.5 million yuan in the same period last year. The difference compared with the third quarter of 2020 is mainly due to the increase in the total transaction volume over the same period of the previous year, which is driven by the increase in the number of active consumers and the average order size. Brand owners carry out more and more promotional activities, which increases the revenue of online marketing services, and also promotes the growth of net revenue from JD to Home.
Costs and expenses
The total cost and expenditure of Dada Group in the third quarter was 2.2823 billion yuan, compared with 1.7581 billion yuan in the same period of the previous year. Including:
-The operating and support costs of Dada Group in the third quarter were 1235.7 million yuan, compared with 1018.2 million yuan in the same period of the previous year. This increase was mainly due to the increase in the number of orders for the local delivery service provided to various chain stores on the Dada Express Delivery Platform and retailers on the JD Home Platform, which led to an increase in rider costs, but was partially offset by the decrease in rider related costs caused by the business upgrade of landing distribution services.
-The sales and marketing expenditure of Dada Group in the third quarter was 780.3 million yuan, compared with 4.. 99.2 billion yuan. This growth is mainly due to: (1) the increase of incentive fees for JD to home consumers; (2) Increase in personnel costs related to the company's business growth.
-The general and administrative expenses of Dada Group in the third quarter were 98.5 million yuan, compared with 121.1 million yuan in the same period of the previous year. The decrease was mainly due to the decrease in equity incentive expenses.
-The R&D expenditure of Dada Group in the third quarter was 148 million yuan, compared with 103.1 million yuan in the same period last year. This growth is mainly due to the company's continued strengthening of its technical capabilities, resulting in an increase in the cost of R&D personnel.
Operating losses
The operating loss of Dada Group in the third quarter was 565.8 million yuan, compared with 449.9 million yuan in the same period last year.
In violation of the US GAAP, the operating loss of Dada Group in the third quarter was 472.1 million yuan, compared with 338.7 million yuan in the same period of the previous year.
Net loss
The net loss of Dada Group in the third quarter was 542.7 million yuan, compared with 434.0 million yuan in the same period last year.
In violation of the US GAAP, the net loss of Dada Group in the third quarter was 450.1 million yuan, compared with 324.0 million yuan in the same period last year.
The net loss attributable to common shareholders of Dada Group in the third quarter was 542.7 million yuan, compared with 434.0 million yuan in the same period last year.
In violation of the US GAAP, the net loss attributable to ordinary shareholders of Dada Group in the third quarter was RMB450.1 million, compared with RMB324.0 million in the same period last year.
Loss per share
The basic loss per share and diluted loss per share of Dada Group in the third quarter were both 0.57 yuan, compared with 0.48 yuan in the same period of the previous year.
In violation of the US GAAP, the basic loss per share and diluted loss per share of Dada Group in the third quarter were both 0.48 yuan, compared with 0.36 yuan in the same period of the previous year.
Cash situation
As of September 30, 2021, the total amount of cash, cash equivalents, restricted cash and short-term investments held by Dada Group was RMB 2.932 billion, compared with RMB 6.2911 billion as of December 31, 2020.
stock repurchase
According to the US $150 million share repurchase authorization announced in June 2021, as of October 31, 2021, Dada Group has repurchased about US $130.6 million worth of American depositary shares under this repurchase plan.
Performance Outlook:
For the third quarter of fiscal year 2021, Dada Group expects its total revenue to be between 2 billion yuan and 2.1 billion yuan. After adjusting the landing distribution business to the net income caliber, the total revenue in the third quarter of fiscal year 2021 will achieve a year-on-year growth of 88% to 97%. This performance outlook is based on the information available on the date of this press release, reflecting the current and preliminary expectations of the company, which may change in the future due to various uncertainties, including those related to the ongoing COVID-19 pandemic.
Teleconferencing:
Dada Group will hold a teleconference at 8:00 p.m. on November 23, 2021 (9:00 a.m. on November 24, 2021, Beijing time) to interpret the financial results.
Please use the following link to register before the meeting, and use the participant's dial in number, Direct Event password and the unique registrant ID provided during registration to dial 10 minutes before the call. After this process is completed, the real-time call can be automatically accessed, unless the following conference ID is required due to regional restrictions.
Pre registration link: http://apac.directeventreg.com/registration/event/6597641
Conference ID: 6597641
After the teleconference, until 7:59 a.m. on December 1, 2021 (Beijing time 8:59 p.m. on December 1, 2021), investors can call the following numbers to listen to the recording of the teleconference.
The access numbers for listening to conference calls are as follows:
International access number:+61-2-8199-0299
United States (free): 1-855-452-5696
Mainland China: 8008-700-206
Hong Kong, China: 800-963-117
Password: 6597641#
Change in share price:
On the same day, the stock price of Dada Group NASDAQ In regular trading, it closed at US $21.80. In the subsequent after hours trading as of 5:11 p.m. on the 23rd (6:11 a.m. on the 24th) Eastern Time, the shares of Dada Group rose $0.20, or 0.92%, to $22.00. In the past 52 weeks, the highest price of Dada Group was $61.27 and the lowest price was $17.57.
