Dada Group Q1 2023 Total Revenue Reaches $370 Million

On May eleventh, Dada Group launched its Q1 2023 monetary outcomes. In the primary quarter, Dada Group’s whole income reached RMB 2.6 billion (about USD 370 million), a year-on-year enhance of 27%. The adjusted internet loss fee narrowed by over 16 share factors in comparison with the identical interval final 12 months.

In the primary quarter, JD Daojia’s income was 1.8 billion yuan ($260 million), whereas Dada Group’s income was 800 million yuan ($120 million).

In the 12 months ending on March 31, 2023, JD Daojia’s whole transaction quantity (GMV) reached 67.3 billion yuan ($9.7 billion), a year-on-year enhance of 37%.

SEE ALSO: Dada Group Founder Departs, JD Retail CEO Takes Over as Board Chairman

“We are pleased to start the new year with an excellent performance. In the first quarter, while maintaining steady growth, we continued to improve operational efficiency,” mentioned Jeff He Huijian, President of Dada Group.

“We have full confidence in the potential of instant retail and instant delivery and will continue to achieve high-quality growth by enhancing LBS technology and fulfillment capabilities, expanding cooperation with retailers and brand merchants, as well as deepening our collaboration with JD.com.”

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