# EDGAR Filing Document

**Accession Number:** 0001793862
**File Stem:** 0001104659-23-030270
**Filing Date:** 2023-3
**Character Count:** 35280
**Document Hash:** 53b40bd105b699ef540122b52a2d4a37
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-030270.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001104659-23-030270

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230308

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dada Nexus Ltd
- **CENTRAL INDEX KEY:** 0001793862
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39305
- **FILM NUMBER:** 23718074

**BUSINESS ADDRESS:**
- **STREET 1:** 22F, ORIENTAL FISHERMAN'S WHARF
- **STREET 2:** NO. 1088, YANGSHUPU ROAD, YANGPU DISTRCT
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200082
- **BUSINESS PHONE:** 86-2131657167

**MAIL ADDRESS:**
- **STREET 1:** 22F, ORIENTAL FISHERMAN'S WHARF
- **STREET 2:** NO. 1088, YANGSHUPU ROAD, YANGPU DISTRCT
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200082

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE<br> 13a-16 OR 15d-16 UNDER<br> THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of March 2023**

**Commission File Number 001-39305**

**Dada Nexus Limited**

(Translation of registrant's name into English)

**22/F, Oriental Fisherman's Wharf**

**No. 1088 Yangshupu Road**

**Yangpu District, Shanghai 200082**

**People's Republic of China** 

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ⌧ Form 40-F ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ◻

<u>Exhibit Index</u>

[Exhibit 99.1—Press Release—Dada Announces Unaudited Fourth Quarter and Fiscal Year 2022 Financial Results](tm238337d1_ex99-1.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Dada Nexus Limited** | **Dada Nexus Limited** |
|  | By: | /s/ Beck Zhaoming Chen |
|  | Name: | Beck Zhaoming Chen |
|  | Title: | Chief Financial Officer |
| Date: March 9, 2023 |  |  |

---

## Exhibit 99.1

**Exhibit 99.1**

**Dada Announces Unaudited Fourth Quarter and Fiscal Year 2022 Financial Results**

SHANGHAI, China, March 08, 2023 (GLOBE NEWSWIRE) -- Dada Nexus Limited (NASDAQ: DADA, "Dada" or the "Company"), China's leading local on-demand delivery and retail platform, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022.

**Fourth Quarter and Fiscal Year 2022 Highlights**

· **Total net revenues in the fourth quarter** were RMB2,681.0 million, an increase of 31.9% year over year from RMB2,032.1 million in the same quarter of 2021. **Total net revenues in 2022** were RMB9,367.6 million, an increase of 36.4% year over year from RMB6,866.3 million in 2021.

· **Total Gross Merchandise Volume ("GMV") of JDDJ** in 2022 was RMB63.3 billion, an increase of 46.9% year over year from RMB43.1 billion in 2021.

· **Number of active consumers** in 2022 was
78.6 million, as compared with 62.3 million in 2021.

"We continued to execute well amid macro challenges in the past quarter. Our team remained focused on enriching product selection and improving user experience, and our highly flexible rider network continued to serve consumers and our merchant partners during COVID-19 resurgence," said Mr. Jeff He, President of Dada. "Looking ahead, we feel optimistic about what the future holds. As on-demand penetration steadily progresses in every single category, we believe our track record of enabling retailers and synergies unleashed from our deepened collaboration with JD.com will position us well to capture opportunities in the coming years."

"We are pleased to deliver another quarter of robust top-line growth and remarkable bottom-line improvement," said Mr. Beck Chen, Chief Financial Officer of Dada. "Our revenue grew by 32% year over year in the fourth quarter. Meanwhile, we made further great strides toward profitability, with non-GAAP operating margin<sup>1</sup> improving by over 17 percentage points year over year. Heading into 2023, we are confident in further improving profitability while sustaining revenue growth momentum."

**Fourth Quarter 2022 Financial Results**

**Total net revenues** were RMB2,681.0 million, an increase of 31.9% year over year from RMB2,032.1 million in the same quarter of 2021.

---

| | | |
|:---|:---|:---|
|  | For the three months ended December 31, | For the three months ended December 31, |
|  | 2021 | 2022 |
|  | (RMB in thousands) | (RMB in thousands) |
| **Net Revenue** |  |  |
| &nbsp;&nbsp;&nbsp;**Dada Now** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Services | 701175 | 863116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales of goods | 17253 | 19879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subtotal** | **718428** | **882995** |
| &nbsp;&nbsp;&nbsp;**JDDJ** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Services** <sup>note (1)</sup>** | **1313698** | **1798041** |
| **Total** | **2032126** | **2681036** |

---

Note:

(1) Includes net revenues from (i) commission fee, and online advertising and marketing services of RMB726,447 and RMB1,090,437 for the three months ended December 31, 2021 and 2022, respectively; and (ii) fulfillment services and others of RMB587,251 and RMB707,604 for the three months ended December 31, 2021 and 2022, respectively.

· **Net revenues generated from Dada Now** increased by 22.9% from RMB718.4 million in the fourth quarter
of 2021 to RMB883.0 million in the fourth quarter of 2022, mainly driven by the increase in order volume of intra-city delivery service
to chain merchants.

· **Net revenues generated from JDDJ** increased by 36.9% from RMB1,313.7 million in the fourth quarter
of 2021 to RMB1,798.0 million in the fourth quarter of 2022, mainly due to the increase in GMV from the same quarter last year, which
was driven by increases in the number of active consumers and average order size. The increase in online marketing services revenue as
a result of the increasing promotional activities launched by brand owners and retailers also contributed to the increment of the net
revenues generated from JDDJ.

**Total costs and expenses** were RMB3,114.9 million, compared with RMB2,688.3 million in the same quarter of 2021.

· **Operations and support** costs were RMB1,574.6 million, compared with RMB1,371.9 million in the same
quarter of 2021. The increase was primarily due to an increase in rider cost as a result of increasing order volume for intra-city delivery
services provided to various chain merchants on the Dada Now platform and retailers on the JDDJ platform.

· **Selling and marketing** expenses were RMB1,293.5 million, compared with RMB1,032.7 million in the
same quarter of 2021. The increase was primarily due to (i) growing incentives to JDDJ consumers, (ii) an increase in advertising and
marketing expenses to attract new consumers to JDDJ platform, and (iii) amortization of the business cooperation agreement in connection
with the share subscription transaction with JD.com in February 2022.

· **General and administrative** expenses were RMB101.0 million, compared with RMB99.0 million in the
same quarter of 2021. The flat growth was primarily due to efficient expense control measures.

· **Research and development** expenses were RMB125.7 million, compared with RMB169.4 million in the
same quarter of 2021. The decrease was mainly attributable to lower research and development personnel cost.

**Loss from operations** was RMB399.6 million, compared with RMB605.7 million in the same quarter of 2021.

**Non-GAAP loss from operations**<sup>1</sup> was RMB207.0 million, compared with RMB505.4 million in the same quarter of 2021.

**Net loss** was RMB370.6 million, compared with RMB577.8 million in the same quarter of 2021.

**Non-GAAP net loss**<sup>2</sup> was RMB179.2 million, compared with RMB485.4 million in the same quarter of 2021.

**Net loss attributable to ordinary shareholders of Dada** was RMB370.6 million, compared with RMB577.8 million in the same quarter of 2021.

**Non-GAAP net loss attributable to ordinary shareholders of Dada**<sup>3</sup> was RMB179.2 million, compared with RMB485.4 million in the same quarter of 2021.

**Basic and diluted net loss per share** was RMB0.36, compared with RMB0.61 for the fourth quarter of 2021.

**Non-GAAP basic and diluted net loss per share**<sup>4</sup> was RMB0.18, compared with RMB0.51 for the fourth quarter of 2021.

**Fiscal Year 2022 Financial Results**

**Total net revenues** were RMB9,367.6 million, an increase of 36.4% year over year from RMB6,866.3 million in 2021.

---

| | | |
|:---|:---|:---|
|  | For the year ended December 31, | For the year ended December 31, |
|  | 2021 | 2022 |
|  | (RMB in thousands) | (RMB in thousands) |
| **Net Revenue** |  |  |
| &nbsp;&nbsp;&nbsp;**Dada Now** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Services | 2753458 | 3082928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales of goods | 67254 | 74642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subtotal** | **2820712** | **3157570** |
| &nbsp;&nbsp;&nbsp;**JDDJ** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Services <sup>note (2)</sup> | 4045550 | 6205180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales of goods |  | 4845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Subtotal** | **4045550** | **6210025** |
| **Total** | **6866262** | **9367595** |

---

Note:

(2) Includes net revenues from (i) commission fee, and online advertising and marketing services of RMB2,275,306 and RMB3,831,218 for fiscal year 2021 and 2022, respectively; and (ii) fulfillment services and others of RMB1,770,244 and RMB2,373,962 for fiscal year 2021 and 2022, respectively.

· **Net revenues generated from Dada Now** increased by 11.9% from RMB2,820.7 million in 2021 to RMB3,157.6
million in 2022. The growth was mainly driven by the increase in order volume of intra-city delivery service to chain merchants, partially
offset by the business upgrade of last-mile delivery services.

· **Net revenues generated from JDDJ** increased by 53.5% from RMB4,045.6 million in 2021 to RMB6,210.0
million in 2022, mainly due to the increase in GMV in 2022, which was driven by increases in the number of active consumers and average
order size. The increase in online marketing services revenue as a result of the increasing promotional activities launched by brand owners
and retailers also contributed to the increment of the net revenues generated from JDDJ.

**Total costs and expenses** were RMB11,608.0 million, compared with RMB9,601.7 million in 2021.

· **Operations and support** costs were RMB5,743.0 million, compared with RMB5,139.1 million in 2021.
The rise was primarily due to an increase in rider cost as a result of increasing order volume for intra-city delivery services provided
to various chain merchants on the Dada Now platform and retailers on the JDDJ platform, partially offset by the decrease of rider-related
cost incurred by business upgrade of last-mile delivery services.

· **Selling and marketing** expenses were RMB4,747.9 million, compared with RMB3,427.9 million in 2021.
The increase was primarily due to (i) growing incentives to JDDJ consumers, (ii) an increase in advertising and marketing expenses to
attract new consumers to JDDJ platform, and (iii) amortization of the business cooperation agreement in connection with the share subscription
transaction with JD.com in February 2022.

· **General and administrative** expenses were RMB408.8 million, compared with RMB400.4 million in 2021.
The general and administrative expenses remained flat , primarily due to efficient expense control measures.

· **Research and development** expenses were RMB630.9 million, compared with RMB573.9 million in 2021.
The increase was mainly attributable to the increase in research and development personnel cost to strengthen the technological capabilities.

**Loss from operations** was RMB2,119.5 million, compared with RMB2,578.7 million in 2021.

**Non-GAAP loss from operations**<sup>1</sup> was RMB1,432.7 million, compared with RMB2,198.9 million in 2021.

**Net loss** was RMB2,008.0 million, compared with RMB2,471.1 million in 2021.

**Non-GAAP net loss**<sup>2</sup> was RMB1,326.2 million, compared with RMB2,102.9 million in 2021.

**Net loss attributable to ordinary shareholders of Dada** was RMB2,008.0 million, compared with RMB2,471.1 million in 2021.

**Non-GAAP net loss attributable to ordinary shareholders of Dada**<sup>3</sup> was RMB1,326.2 million, compared with RMB2,102.9 million in 2021.

**Basic and diluted net loss per share** was RMB1.98, compared with RMB2.60 in 2021.

**Non-GAAP basic and diluted net loss per share**<sup>4</sup> was RMB1.31, compared with RMB2.21 in 2021.

Pursuant to our US$70 million share repurchase program announced in March 2022, as of December 31, 2022, we had repurchased approximately US$60.1 million of ADSs under this repurchase program.

As of December 31, 2022, the Company had RMB4,370.4 million in **cash, cash equivalents, restricted cash and short-term investments**, an increase from RMB1,764.8 million as of December 31, 2021.

**Environmental, Social and Corporate Governance**

The Company continued to devote in enhancing ESG practices and was honored to receive external recognition in the fourth quarter:

· In the fourth quarter, Dada Group actively cooperated with local governmental authorities to ensure the
supply of daily necessities in pandemic-affected communities by coordinating merchants' offerings and delivery capacity. In particular,
when medicines are in short supply as COVID-19 cases surged, JDDJ worked closely with tens of thousands of offline pharmacies to facilitate
the access to essential anti-virus drugs and supplies, such as masks, antigen test kits and ibuprofen. Our efforts were recognized by
a number of local authorities, including the governmental authorities of Tianjin, Shijiazhuang and Guiyang.

· In December, JDDJ launched a six-month commission-free initiative for community fresh food stores, which
substantially reduced merchants' operating costs and further enhanced the platform's merchant ecosystem. In addition, during
Chinese New Year promotion period, Shop Now launched marketing resource packages to support more than 35,000 newly onboarded stores.

· Starting in November, Dada Now launched Winter Care program for the sixth consecutive year, delivering
tens of thousands of free winter care and COVID prevention kits to riders nationwide. Moreover, Dada Now actively applied for government
subsidies on behalf of riders engaged in delivering daily necessities during the Chinese New Year holiday in cities including Shanghai,
Guangzhou, Shenzhen, Tianjin, Suzhou, Hangzhou, Nanjing and Xiamen, and distributed these benefits to riders immediately. On top of government
subsidies, Dada Now also offered platform incentives to riders to improve rider earnings and ensure smooth operations during winter and
the Chinese New Year holiday. As of early February, a total of nearly RMB100 million of incentives and subsidies were distributed to Dada
Now riders.

· With continuously improving ESG practices and disclosures, Dada's ESG ratings by leading third-party
agencies have notably improved. In November, MSCI upgraded Dada's ESG rating from BB to BBB, on the strength of higher scores across all
three dimensions of environment, social and governance. Also in November, Dada improved its ESG score in the S&P Corporate Sustainability
Assessment (CSA) to 32, a score that moves Dada up to top 15% among all peers in the global retailing sector. There is still significant
room for improvement, and the Company will further integrate ESG philosophy into its daily operations to enhance ESG practices.

**Business Outlook**

For the first quarter of 2023, Dada expects total revenue to be between RMB2,570 million and RMB2,770 million, representing year-over-year growth of 27% to 37%. This outlook is based on information available as of the date of this press release and reflects the Company's current and preliminary expectations, which are subject to change.

1 Non-GAAP loss from operations represents loss from operations excluding the impact of share-based compensation expenses and amortization of intangible assets resulting from business acquisition. Non-GAAP operating margin equals non-GAAP loss from operations divided by total net revenues.

2 Non-GAAP net loss represents net loss excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisitions and tax benefit from amortization of such intangible assets.

3 Non-GAAP net loss attributable to ordinary shareholders of Dada is net loss attributable to ordinary shareholders of Dada excluding the impact of share- based compensation expenses, amortization of intangible assets resulting from business acquisition and tax benefit from amortization of such intangible assets.

4 Non-GAAP basic and diluted net loss per share is non-GAAP net loss attributable to ordinary shareholders of Dada divided by weighted average number of shares used in calculating net loss per share.

**Conference Call**

The Company will host a conference call to discuss the earnings at 8:30 p.m. Eastern Time on Tuesday, March 8, 2023 (9:30 a.m. Beijing time on Wednesday, March 9, 2023).

Please register in advance of the conference using the link provided below and dial in 10 minutes prior to the call.

PRE-REGISTER LINK: <u>https://s1.c-conf.com/diamondpass/10029031-str69d.html</u>

Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. To join the conference, please dial the number provided, enter the passcode followed by your PIN, and you will join the conference.

A telephone replay of the call will be available after the conclusion of the conference call through March 15, 2023.

Dial-in numbers for the replay are as follows:

---

| | |
|:---|:---|
| U.S./Canada | 1-855-883-1031 |
| Mainland China | 400-1209-216 |
| Hong Kong | 800-930-639 |
| Replay PIN | 10029031 |

---

A live and archived webcast of the conference call will be available on the Investor Relations section of Dada's website at <u>https://ir.imdada.cn/</u>.

**Use of Non-GAAP Financial Measures**

The Company also uses certain non-GAAP financial measures in evaluating its business. For example, the Company uses non-GAAP income/(loss) from operations, non-GAAP operating margin, non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net income/(loss) attributable to ordinary shareholders of Dada and non-GAAP net income/(loss) attributable to ordinary shareholders of Dada per share as supplemental measures to review and assess its financial and operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. Non-GAAP income/(loss) from operations is income/(loss) from operations excluding the impact of share-based compensation expenses and amortization of intangible assets resulting from business acquisition. Non-GAAP operating margin is non-GAAP income/(loss) from operations as a percentage of total net revenues. Non-GAAP net income/(loss) is net income/(loss) excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition and tax benefit from amortization of such intangible assets. Non-GAAP net margin is non-GAAP net income/(loss) as a percentage of total net revenues. Non-GAAP net income/(loss) attributable to ordinary shareholders of Dada is net income/(loss) attributable to ordinary shareholders of Dada excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition and tax benefit from amortization of such intangible assets. Non-GAAP net income/(loss) attributable to ordinary shareholders of Dada per share is non-GAAP net income/(loss) attributable to ordinary shareholders of Dada divided by weighted average number of shares used in calculating net income/(loss) per share.

The Company presents the non-GAAP financial measures because they are used by the Company's management to evaluate the Company's financial and operating performance and formulate business plans. Non-GAAP income/(loss) from operations and non-GAAP net income/(loss) enable the Company's management to assess the Company's financial and operating results without considering the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition and tax benefit from amortization of such intangible assets. The Company also believes that the use of the non-GAAP measures facilitates investors' assessment of the Company's financial and operating performance.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income/(loss) from operations, non-GAAP net income/(loss), non-GAAP net income/(loss) attributable to ordinary shareholders of Dada, and non-GAAP net income/(loss) attributable to ordinary shareholders of Dada per share is that they do not reflect all items of income and expense that affect the Company's operations. Share-based compensation expenses, amortization of intangible assets resulting from business acquisition and tax benefit from amortization of such intangible assets have been and may continue to be incurred in the Company's business and is not reflected in the presentation of non-GAAP income/(loss) from operations, non-GAAP net income/(loss), non-GAAP net income/(loss) attributable to ordinary shareholders of Dada, and non-GAAP net income/(loss) attributable to ordinary shareholders of Dada per share. Further, the non-GAAP measures may differ from the non-GAAP measures used by other companies, including peer companies, potentially limiting the comparability of their financial results to the Company's. In light of the foregoing limitations, the non-GAAP income/(loss) from operations, non-GAAP operating margin, non-GAAP net income/(loss), non-GAAP net margin, non-GAAP net income/(loss) attributable to ordinary shareholders of Dada and non-GAAP net income/(loss) attributable to ordinary shareholders of Dada per share for the period should not be considered in isolation from or as an alternative to income/(loss) from operations, operating margin, net income/(loss), net margin, net income/(loss) attributable to ordinary shareholders of Dada and net income/(loss) attributable to ordinary shareholders of Dada per share, or other financial measures prepared in accordance with U.S. GAAP.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company's performance. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, "Reconciliations of GAAP and Non-GAAP Results."

**Forward-Looking Statements**

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Among other things, quotations in this announcement, contain forward-looking statements. Dada may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Dada's beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Dada's strategies; Dada's future business development, financial condition and results of operations; Dada's ability to maintain its relationship with major strategic investors; its ability to provide efficient on-demand delivery services and offer quality on-demand retail experience; its ability to maintain and enhance the recognition and reputation of its brands; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Dada's filings with the SEC. All information provided in this press release is as of the date of this press release, and Dada does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

**About Dada**

Dada is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China's largest local on-demand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The Company's two platforms are inter-connected and mutually beneficial. The Dada Now platform enables improved delivery experience for participants on the JDDJ platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. Meanwhile, the vast volume of on-demand delivery orders from the JDDJ platform increases order volume and density for the Dada Now platform.

For more information, please visit <u>https://ir.imdada.cn/</u>.

**For investor inquiries, please contact:**

Dada Nexus Limited

Ms. Caroline Dong

E-mail: <u>ir@imdada.cn</u>

**Christensen**

In China

Mr. Rene Vanguestaine

Phone: +86-178-1749 0483

E-mail: <u>rene.vanguestaine@christensencomms.com</u>

In US

Ms. Linda Bergkamp

Phone: +1-480-614-3004

E-mail: <u>linda.bergkamp@christensencomms.com</u>

**For media inquiries, please contact:**

Dada Nexus Limited

<u>E-mail: PR@imdada.cn</u>

<u>Appendix I</u>

**DADA NEXUS LIMITED**

**UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Amounts in thousands, except share data and otherwise noted)**

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2021** | **2022** |
|  | **RMB** | **RMB** |
| **ASSETS** |  |  |
| **Current assets** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | 512830 | 1233974 |
| &nbsp;&nbsp;&nbsp;Restricted cash | 58020 | 433895 |
| &nbsp;&nbsp;&nbsp;Short-term investments | 1193909 | 2702524 |
| &nbsp;&nbsp;&nbsp;Accounts receivable | 352324 | 313502 |
| &nbsp;&nbsp;&nbsp;Inventories, net | 6344 | 8826 |
| &nbsp;&nbsp;&nbsp;Amount due from related parties | 840667 | 1060987 |
| &nbsp;&nbsp;&nbsp;Prepayments and other current assets | 479017 | 606502 |
| **Total current assets** | **3443111** | **6360210** |
| **Non-current assets** |  |  |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 37555 | 16849 |
| &nbsp;&nbsp;&nbsp;Goodwill | 957605 | 957605 |
| &nbsp;&nbsp;&nbsp;Intangible assets, net | 332317 | 1665320 |
| &nbsp;&nbsp;&nbsp;Operating lease right-of-use assets | 76811 | 37592 |
| &nbsp;&nbsp;&nbsp;Non-current time deposits | 400000 |  |
| &nbsp;&nbsp;&nbsp;Other non-current assets | 33181 | 8223 |
| **Total non-current assets** | **1837469** | **2685589** |
| **TOTAL ASSETS** | **5280580** | **9045799** |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| **Current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Short-term loan | 100000 | 100000 |
| &nbsp;&nbsp;&nbsp;Accounts payable | 9800 | 9791 |
| &nbsp;&nbsp;&nbsp;Payable to riders and drivers | 580983 | 794320 |
| &nbsp;&nbsp;&nbsp;Amount due to related parties | 71760 | 147003 |
| &nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 620406 | 931943 |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities | 35759 | 24460 |
| **Total current liabilities** | **1418708** | **2007517** |
| **Non-current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;Deferred tax liabilities | 27000 | 21988 |
| &nbsp;&nbsp;&nbsp;Non-current operating lease liabilities | 46243 | 16574 |
| **Total non-current liabilities** | **73243** | **38562** |
| **TOTAL LIABILITIES** | **1491951** | **2046079** |

---

**DADA NEXUS LIMITED**

**UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)**

**(Amounts in thousands, except share data and otherwise noted)**

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2021** | **2022** |
|  | **RMB** | **RMB** |
| **SHAREHOLDERS' EQUITY** |  |  |
| &nbsp;&nbsp;&nbsp;Ordinary shares (US$0.0001 par value, 2,000,000,000 and 2,000,000,000 shares authorized, 955,876,116 and 1,079,881,662 shares issued, 927,776,552 and 1,021,923,242 shares outstanding as of December 31, 2021 and 2022, respectively) | 633 | 630 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 15714015 | 20599607 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (11816229) | (13824234) |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive income/(loss) | (109790) | 223717 |
| **TOTAL SHAREHOLDERS' EQUITY** | **3788629** | **6999720** |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** | **5280580** | **9045799** |

---

**DADA NEXUS LIMITED**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS**

**(Amounts in thousands, except share and per share data and otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended December 31,** | **For the three months ended December 31,** | **For the year ended December 31,** | **For the year ended December 31,** |
|  | **2021** | **2022** | **2021** | **2022** |
|  | **RMB** | **RMB** | **RMB** | **RMB** |
| **Net revenues** | **2032126** | **2681036** | **6866262** | **9367595** |
| **Costs and expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Operations and support | (1371896) | (1574603) | (5139102) | (5743010) |
| &nbsp;&nbsp;&nbsp;Selling and marketing | (1032697) | (1293509) | (3427909) | (4747926) |
| &nbsp;&nbsp;&nbsp;General and administrative | (99018) | (101009) | (400397) | (408771) |
| &nbsp;&nbsp;&nbsp;Research and development | (169439) | (125665) | (573949) | (630911) |
| &nbsp;&nbsp;&nbsp;Other operating expenses | (15227) | (20113) | (60326) | (77423) |
| **Total costs and expenses** | **(2688277)** | **(3114899)** | **(9601683)** | **(11608041)** |
| &nbsp;&nbsp;&nbsp;Other operating income | 50483 | 34237 | 156714 | 120921 |
| **Loss from operations** | **(605668)** | **(399626)** | **(2578707)** | **(2119525)** |
| **Other income/(expenses)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest expenses | (1482) | (5477) | (13806) | (10946) |
| &nbsp;&nbsp;&nbsp;Others, net | 21564 | 33268 | 109828 | 117625 |
| **Total other income** | **20082** | **27791** | **96022** | **106679** |
| **Loss before income tax benefits** | **(585586)** | **(371835)** | **(2482685)** | **(2012846)** |
| &nbsp;&nbsp;&nbsp;Income tax benefits | 7799 | 1253 | 11558 | 4841 |
| **Net loss** | **(577787)** | **(370582)** | **(2471127)** | **(2008005)** |
| &nbsp;&nbsp;&nbsp;Accretion of convertible redeemable preferred shares |  |  |  |  |
| **Net loss attributable to ordinary shareholders of Dada** | **(577787)** | **(370582)** | **(2471127)** | **(2008005)** |
| **Net loss per share** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | (0.61) | (0.36) | (2.60) | (1.98) |
| &nbsp;&nbsp;&nbsp;Diluted | (0.61) | (0.36) | (2.60) | (1.98) |
| **Weighted average shares used in calculating net loss per share** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 942581485 | 1021484524 | 950697557 | 1015265686 |
| &nbsp;&nbsp;&nbsp;Diluted | 942581485 | 1021484524 | 950697557 | 1015265686 |
| **Net loss** | **(577787)** | **(370582)** | **(2471127)** | **(2008005)** |
| **Other comprehensive income/(loss)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Foreign currency translation adjustments | (14274) | (36054) | (39487) | 333507 |
| **Total comprehensive loss** | **(592061)** | **(406636)** | **(2510614)** | **(1674498)** |

---

**DADA NEXUS LIMITED**

**Reconciliations of GAAP and Non-GAAP Results**

**(Amounts in thousands, except share and per share data and otherwise noted)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months ended December 31,** | **For the three months ended December 31,** | **For the year ended December 31,** | **For the year ended December 31,** |
|  | **2021** | **2022** | **2021** | **2022** |
|  | **RMB** | **RMB** | **RMB** | **RMB** |
| **Loss from operations** | **(605668)** | **(399626)** | **(2578707)** | **(2119525)** |
| &nbsp;&nbsp;&nbsp;Add: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Share-based compensation expense | 57606 | 55838 | 207943 | 218730 |
| &nbsp;&nbsp;&nbsp;Intangible assets amortization | 42619 | 136755 | 171883 | 468058 |
| **Non-GAAP loss from operations** | **(505443)** | **(207033)** | **(2198881)** | **(1432737)** |
| **Net loss** | **(577787)** | **(370582)** | **(2471127)** | **(2008005)** |
| &nbsp;&nbsp;&nbsp;Add: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Share-based compensation expense | 57606 | 55838 | 207943 | 218730 |
| &nbsp;&nbsp;&nbsp;Intangible assets amortization | 42619 | 136755 | 171883 | 468058 |
| &nbsp;&nbsp;&nbsp;Income tax benefit | (7799) | (1253) | (11558) | (5012) |
| **Non-GAAP net loss** | **(485361)** | **(179242)** | **(2102859)** | **(1326229)** |
| &nbsp;&nbsp;&nbsp;Accretion of convertible redeemable preferred shares |  |  |  |  |
| **Non-GAAP net loss attributable to ordinary shareholders of Dada** | **(485361)** | **(179242)** | **(2102859)** | **(1326229)** |
| **Non-GAAP net loss per share** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | (0.51) | (0.18) | (2.21) | (1.31) |
| &nbsp;&nbsp;&nbsp;Diluted | (0.51) | (0.18) | (2.21) | (1.31) |
| **Weighted average shares used in calculating net loss per share** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 942581485 | 1021484524 | 950697557 | 1015265686 |
| &nbsp;&nbsp;&nbsp;Diluted | 942581485 | 1021484524 | 950697557 | 1015265686 |

---