Dada Nexus Ltd (DADA) Q4 2022 Earnings Call Transcript

Dada Nexus Ltd (NASDAQ:DADA) Q4 2022 Earnings Conference Call March 8, 2023 8:30 PM ET

Company Participants

Caroline Dong - Head, IR

Jeff Huijian He - President & Director

Beck Chen - CFO

Conference Call Participants

Ronald Keung - Goldman Sachs Group

Thomas Chong - Jefferies

Alicia Yap - Citigroup

Andre Chang - JPMorgan Chase & Co.

Operator

Good morning, ladies and gentlemen, and thank you for standing by for Dada's Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions].

I will 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

Thank you, operator. Hello, everyone, and thank you for joining our fourth quarter 2022 earnings conference call.

On the call today from Dada, we have Mr. Jeff Huijian He, President and Mr. Beck Chen, CFO; and Mr. Jun Yang, Co-Founder and CTO. Mr. He will talk about our operations and company highlights. Then Mr. Chen will discuss the financials and guidance. Please carefully note that during the Q&A session, Jeff will answer questions in Chinese and the consecutive translation will be provided.

In case of any discrepancy between the original remarks and the translated version statements in the original remarks should prevail. 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, which applies to this call.

Also, during this call, we will discuss certain non-GAAP financial measures. Please also refer to our earnings press release which contains a consolidation of our 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 is now my pleasure to introduce our President, Mr. He, please go ahead.

Jeff Huijian He

Okay. Thank you, Caroline, and thank you all for joining us. During the first quarter of 2022, Dada Group once again achieved a strong growth with significantly improving our operational efficiency.

Our total net revenues increased by 32 and adjusted net margin improved by 17 percentage points year-over-year. In addition, we achieved a positive free cash flow in the second half of 2022.

I will first provide an update on our depend on cooperation with JD.com, after which I will take you through the operational highlights from our 2 platforms. Beck then discuss the financial results in detail.