On March 26, Beijing time, Dada Group (Nasdaq: DADA), China's leading local instant retail and distribution platform, announced the results for the fourth quarter and full year of 2023.Core indicators achieve steady growth. In the fourth quarter, Dada Group's total revenue was 2.75 billion yuan. The adjusted net profit margin continued to be optimized year-on-year, and profitability continued to improve.Dada Express Delivery Revenue12.0100 million yuan, year-on-year increase36%, exceeding market expectations. The GMV of the Hourly Times Channel increased by more than 2 over the same00%.In 2023,Dada Group's total annual revenue reached 10.51 billion yuan, up from last year12%.According to the announcement, the board of directors of Dada Group has approved the launch of a projectRMB maximum contract3Of 100 million yuanStock repurchase plans.

Its two platforms continue to maintain efficient collaborative development.In the fourth quarter, JD continued to deepen cooperation with large chain merchants to empower more small and medium-sized businesses. By the end of 2023,The number of JD stores that have arrived at home has exceeded 50Ten thousand families: From supermarket chains to small convenience stores, from 3C digital to home appliances, to alcohol, clothing, mother and baby... continue to enrich the supply of merchants, optimize the platform ecosystem, and strengthen the construction of user-centered services to enhance the user experience to meet the immediate consumption needs of consumers with “all categories of hourly delivery”.

The fourth quarter,Dada Express Delivery Revenue12.0100 million yuan, a year-on-year increase of 36%, exceeding market expectations. 2022Top 5 annual contributions to the platform's revenue0The number of chain stores is in 2023We continue to choose Dada Express as our strategic partner every yearThe quality, cost, and efficiency of Dada Express's instant fulfillment service has been widely recognized by merchants. The high-quality development of the business has also attracted more riders:2023More than 1 active rider per year on the platform2010,000. The social livelihood value of the platform's “employment reservoir” has been further expanded.

It is worth noting that the board of directors of Dada Group has approved the launch of a stock repurchase program to repurchase value within the next 2 years through its own fundsRMB maximum contract3100 million yuanShares of,This share repurchase plan shows Dada Group's vision for the futureHealth is sustainableConfidence in development prospects.

Comprehensively deepen collaboration with JD

The GMV of the Hourly Time Channel increased by more than 2 over the same00%

As Dada Group and JD Group continue to fully deepen collaboration and strengthen capacity building in the field of instant retail, Hour Delivery has become an important part of JD providing consumers with a “faster, better and more economical” consumer experience. It is also an important part of working with merchants and brand partners to address external challenges and achieve steady growth.

The fourth quarter,The average number of monthly orders placed by JD Hourly increased by 50%. Driven by the increase in the click rate of the JD homepage and the improvement in traffic distribution efficiency, etc.The number of active users (DAU) of the hourly chat channel increased by more than 1 year over year00%, the GMV of the Hourly Times Channel increased by more than 2 percent year-on-year00%.Furthermore, GMV generated by users actively screening hourly delivery products through search has maintained a steady growth trend. More and more JD users are getting used to using the hourly delivery service and enjoy the fast and economical instant shopping experience.JD users' hourly instant retail mentality continues to improve.

According to JD's New Year's Eve data, it appears frequently during the Spring Festival GalaWahaha AD calcium milk,During the broadcast period of the programSales YoYLast year's New Year's EveMore than 16 times increase，Magic shows led to a 4.3 times year-on-year increase in sales of playing cards, and sales of holiday snacks such as sugar, melon seeds, and peanuts doubled year-on-year. During the Spring Festival, Dada's express delivery capacity increased by nearly 20% compared to last year's Lunar New Year. A consumer in Jinan opened the JD app on New Year's Eve and selected a JD Liquor World store near his home from the hourly delivery channel on the homepage to place an order. More than 20 minutes later, the Dada Express rider delivered the same drink from the Spring Festival Gala to his home.

Online stores break through 50Ten thousand families

Helping merchants achieve deterministic growth

In recent years, when JD arrived home, it relied ondigitizingundLocal supply chain collaborationIts core capabilities continuously improve the operating efficiency and service capabilities of merchants, help merchants achieve omni-channel growth, strongly promote the integration of digital reality in various industries, andTake the user as the center and strengthen the construction of services that enhance the user experienceto meet the diversified immediate consumption needs of users.

As of 2023At the end of the year, the number of JD stores that arrived at home had exceeded 5010,000. The number of stores increased by more than 100% year-on-year compared to the end of 2022. While continuing to maintain deep cooperation with large chain merchants, it is empowering more small and medium-sized businesses.In 2023, out of the top 100 supermarkets announced by the China Chain Management Association (CCFA), JD.com has cooperated with more than 90 of them.

Since the fourth quarter, JD has continued to expand cooperation with leading convenience store chains.GMV from convenience stores increased more than fourfold year over year.After stores such as JD convenience stores, Meiyijia, and Lawson went online in JD, the original 1 kilometer service range was extended to 5 km, effectively connecting the online and offline instant retail ecosystem, which strongly promoted the growth of domestic demand. The 3C digital category continues to grow rapidly.The GMV of mobile phone brands such as OPPO and Samsung increased by more than 1 in the fourth quarter00%GMV for digital products maintained a rapid year-on-year growth rate of more than 50%, with some electronic components growing at a remarkable rate.More than one home appliance store has been added10000home,Among them, JD Home has reached cooperation with leading home appliance brands such as Panasonic and Boss to provide consumers with differentiated products and integrated delivery services.G in the category of household appliancesMVThe year-on-year increase in the fourth quarter was more than 50%GMV in the household category increased by nearly 1 year over year in the fourth quarter00%. Both clothing and alcohol remained above GMV year over year3Rapid growth of 2 times.

Behind helping merchants continue to grow, it is inseparable from the accurate technical capabilities of the Haibo system. As an omni-channel digital center system, Haibo System can provide merchantsIntegrated operation management,Order fulfillment optimization, data standardization and automated managementSuch capabilities help merchants reduce costs, increase efficiency, and increase sales.As of 2023At the end of the year, the Haibo system had covered more than13000The number of stores increased by more than 40% over the previous year. In the face of a sharp increase in the number of partner merchants, the merchant retention rate is still as high as about 90%.The Haibo system continues to be iterated, and an order risk control engine has been added to improve merchant risk control capabilities and operational safety efficiency through intelligent identification of false orders and real-time monitoring and early warning.

The instant matchmaking business continues to grow rapidly

Stable employment and absorption of more than 12 active riders0ten thousand

In 2023, facing many challenges, Dada ExpressAchieved the goal of high-quality growth throughout the year by pursuing optimal solutions for cost, efficiency, and experience，Q4 Dada Express Revenue 12100 million yuan, a year-on-year increase of 36%, exceeding market expectations.The ability to provide immediate fulfillment services continues to be recognized by merchants and users.

Over the past year, Dada Express seized the opportunity and continued to expand the sinking market.More than 1 active rider on the platform2010,000, a year-on-year increase of more than 20%, further increase flexible employment opportunities for workers, and continue to give full play to the social livelihood value of the platform “employment reservoir”. The fourth quarter,Chain merchants achieved high-quality growth, and the number of completed orders increased by more than 2 over the same period last year0%, the compliance rate exceeds 95%. Among them, the number of completed orders in the beverage category increased by more than 6 over the same period last year0%. Received Lucky Coffee's “Best Strategic Partner Award” to help brands such as Bawang Chahime grow rapidly. In the food category, the fourth quarter brought rapid growth to newly signed partners such as Tustin. It is worth noting that2022Top 5 annual contributions to the platform's revenue0The number of chain stores is in 2023We continue to choose Dada Express as our strategic partner every yearThe quality, cost, and efficiency of Dada Express's instant fulfillment service was widely recognized by merchants. In the fourth quarter, due to the optimization of pricing capacity, the development of new scenarios in the professional market, and the continuous penetration of the sinking market,The number of completed orders for small to medium businesses and individual businesses was year-on-year 2022The high base still grew by more than 2 during the same period of the year0%.

Actively practice social responsibility

ESG ratings jumped for 2 consecutive years

In 2023, Dada Group will continue to strengthen ESG practices to create sustainable commercial value in terms of environmental, social and corporate governance.

In November 2023, led by the China Chain Management Association (CCFA for short)The first instant retail industry group standard “Instant Retail Industry Terms and Key Indicators”Officially released,JD Home Delivery and Dada Express participated in the drafting and formulation as core representatives to promote the healthy and sustainable development of the instant retail industry.In recent years, Dada Group has actively promoted and led the development of industry standardization, and participated deeply in drafting and formulation before and afterRetail Digitization Terminology,《Key indicators for omni-channel operation of retail chain enterprises》,The first national standard for instant delivery in China “Instant Delivery Service Specification”etc.

Dada Group continues to promote the establishment of rider care and rider rights protection systems: From October 2023 to the end of February 2024, the “Warm Winter Plan” will send riders to Dada all over the countryFree distributionHundreds of thousands of sets of winter care materials, investing about 100 million yuan in rider incentives and subsidies to effectively increase riders' income; Over 500 knight care events are held throughout the year, with pharmaceutical companies all over the countryContinue to set up caring medicine boxes, and continue to increase energy stations, love freezers, love posts, etc., to provide riders with free emergency and daily supplies; launched“Knight Child Care Program”, providing scholarship assistance for outstanding children of riders who have financial difficulties and are admitted to college; ensure implementationCommercial insurance coverage 100% of riders;Provided by the country in formulating policies for workers with new forms of employmentpositiveCooperate with support, I received a letter of thanks from the relevant departments.

In September 2023, Dada Group's ESG score in the S&P Global Corporate Sustainability Assessment (CSA for short in English) was 37 points.Ranked in the top 1 in the global retail industry6%. In December, Morgan Stanley Capital International (MSCI for short), an authoritative international index agency, examined the Group'sESG rating upgraded to A, expressing full recognition of Dada Group's ability to develop in a sustainable and high-quality manner,Dada Group achieved a two-year jump in ESG ratings.

In the future, Dada Group willAdhere to user-centered, healthy, long-term and efficient development,Together with retailers, brands, riders and other ecological partners, we focus on developing digitalization, local supply chain integration, and immediate contract fulfillment capabilities to continuously promote new consumption, help entities gain new momentum, and expand employment opportunities through numerical integration.