Dada Nexus Limited
Q1 2022 Earnings Call
May 16, 2022, 9:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning, ladies and gentlemen and thank you for standing by for Dada first quarter 20221 earnings conference call. At this time, all participants are in a listen-only mode. After the management prepared remarks, there will be a question-and-answer session. As a reminder, today's conference is being recorded.
I'll now turn the meeting over to your host for today's call, Ms. Caroline Dong, head of investor relations for Dada. Please proceed, Caroline.
Caroline Dong -- Head of Investor Relations
Thank you, operator. Hello, everyone, and thank you for joining our first quarter 2022 earnings conference call. On the call today from Dada, we have Mr. Philip Kuai, chairman and CEO; Mr.
Beck Chen, CFO; and Mr. Jun Yang, co-founder and CTO. Mr. Kuai will talk about our operations and company highlights, then Mr.
Chen will discuss the financials and guidance. They will all be available to answer your questions during the Q&A session that follows. Before we begin, I'd like to remind you that this conference call contains forward-looking statements, please refer to our latest safe harbor statement in the earnings press release on our IR website. Also, during this call, we will discuss certain non-GAAP financial measures.
Please also refer to our earnings press release, which contains a reconciliation of non-GAAP measures to the comparable GAAP measures. Finally, please note that unless otherwise stated, all figures mentioned during this conference call are in RMB. It's now my pleasure to introduce our chairman and CEO, Mr. Kuai.
Philip, please go ahead.
Philip Kuai -- Chairman and Chief Executive Officer
Thank you, Caroline, and thank you all very much for joining us today. We are pleased to announce another strong quarter and an excellent start to the year. During the first quarter of 2022, Dada Group delivered revenue growth of 74% year over year on a comparable net basis, fully demonstrating our resilient business model, despite pressures from the current macro environment. So, as usual, I will first go through some key observations and highlights of our recent progress before moving on to updates on our two platforms.
Beck Chen will then go through our financial results in greater details. In terms of the regulatory environment, the political bureau of the CPC Central Committee has recently held a meeting to analyze the current economic situation, where leadership emphasized the necessity to promote the healthy development of the platform economy, including completing the special rectification, implementing regular supervision, and introducing specific measures to support the robust development of the platform economy in compliance with laws and regulations. So under the overall guidance of the CPC and the government, Dada Group adheres to compliant operations, while driving sustainable business growth. We have been growing our business rapidly, while actively fulfilling our responsibility as a platform, making every effort to elevate the platform economy to a new level.