Dada Group, China’s leading local on-demand delivery and retail platform, announced on Tuesday its unaudited financial results for the first quarter ending March 31, 2022. The company’s total net revenues in the first quarter stood at 2 billion yuan.

(File photo: agencies)

Dada Group's JDDJ reported a total Gross Merchandise Volume (GMV) of 49.1 billion yuan in the twelve months which ended March 31, 2022, an increase of 74.4% from the same period last year.

The number of active consumers for the period was 67.9 million, compared to 46.1 million in the same period last year.

“Since the completion of JD.com’s increased investment in Dada, we have further strengthened collaboration under the omni-channel strategy, to jointly explore the huge potential in the on-demand retail industry. Amidst macro challenges, we will stay focused to expand offerings to customers and enable local merchants to succeed in the digital age,” said Philip Kuai, Chairman and Chief Executive Officer of Dada.

“Despite pressure from the current macro environment, our resilient business model helped us achieve another solid quarter and we believe the strong momentum will continue,” said Beck Chen, Chief Financial Officer of Dada. “While macro uncertainty remains in the near future, we will continue to execute with discipline and are confident to achieve decent growth with further improved profitability.”