Dada Nexus Limited, China’s leading local on-demand delivery and retail platform, announced on Friday its financial results for the third quarter that ended September 30, 2022.
Dada’s total net revenues were 2.4 billion yuan, up 41 percent year on year. Net revenues generated from Dada Now were 835.9 million yuan, an increase of 36.1 percent year on year. JDDJ, one of China’s largest local on-demand retail platforms that Dada operates, reported a net revenue of 1.544 billion yuan, up 44 percent year on year.
The total gross merchandise volume (GMV) of JDDJ for the twelve months ending September 30, 2022 was 58.9 billion yuan, an increase of 58.3 percent year on year from 37.2 billion yuan in the same period of 2021.
With over 200,000 stores participating, GMV of JDDJ on the peak day of the Double 11 shopping festival reached a historic high. Dada Now’s number of average daily orders throughout the campaign exceeded 10 million.