Dada Group listing in U.S.: first-quarter net loss of $70m

Dada Group filed an F-1 prospectus with the U.S. Securities and Exchange Commission on Tuesday for a listing on NASDAQ’s Global Select Market under the ticker code “DADA” to raise $100 million. Goldman Sachs, BofA Securities and Jeffery Group acted as underwriters. In its prospectus, Dada released financial data for the full years of 2017, 2018 and 2019, as well as for the first quarter of 2019 and 2020.

Dada Group listing in U.S.: first-quarter net loss of $70m

Dada submits prospectus

第一季度业绩要点:

– Net revenue was RMB1,099.6 million (RMB, the same as below) (approximately US$155 million), up 109% from RMB526.5 million a year earlier;

Operating loss was 292.7 million yuan ($41.33 million), down 16% from 349.9 million yuan a year earlier;

– Net loss attributable to Dada common shareholders was RMB495.4 million (US$69.96 million), a decrease of 2% from rmb508 million to the net loss attributable to Dada common shareholders over the same period last year.

Dada Group listing in U.S.: first-quarter net loss of $70m

Dada Financial Data

Highlights of 2019 results:

– Net revenue was RMB3,099.7 million (US$438 million), up 61% from RMB1,922 million in 2018;

– Operating loss was RMB1,749.7 million (US$247 million), down 11% from RMB1,976.5 million in 2018;

– Net loss attributable to Dada common shareholders was RMB2,464.8 million (US$348 million), an increase of 3% over the net loss attributable to Dada common shareholders of RMB2.390 billion the previous year.