Dada Nexus, Inc. (DADA) Q3 2022 Earnings Call Transcript

Dada Nexus, Inc. (NASDAQ:DADA) Q3 2022 Earnings Conference Call November 17, 2022 8:30 PM ET

Company Participants

Caroline Dong - Head, IR

Jeff Huijian - President & Director

Beck Chen - CFO

Conference Call Participants

Ronald Keung - Goldman Sachs

Thomas Chong - Jefferies

Alicia Yap - Citi

Ashley Xu - Crédit Suisse

Andre Chang - JPMorgan Chase & Co.

Operator

Good morning, ladies and gentlemen, and thank you for standing by for Dada's Third 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 third quarter 2022 earnings conference call. On the call today from Dada, we have Mr. Jeff Jeff Huijian, President; Mr. Beck Chen, CFO; and Mr. Jun Yang, Co-Founder and CTO. Mr. He will talk about our operations and the 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.

Please kindly 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 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 is now my pleasure to introduce our President, Mr. He. Jeff, please go ahead.

Jeff Huijian

Thank you, Caroline, and thank you all for joining us. This is my first earnings call as President of Dada Group, and I'd like to have the opportunity to announce the strong quarter after we have just delivered.

Now on to our results. During the quarter of 2022, Dada Group maintained our -- just -- our rapid revenue growth and continuously improved operating efficiency. Our total net revenues increased by 41%, and adjusted net loss margin narrowed by 15 percentage points year-over-year.