Dada Nexus Limited (DADA) Q2 2023 Earnings Call Transcript

Dada Nexus Limited (NASDAQ:DADA) Q2 2023 Earnings Conference Call August 15, 2023 9:30 PM ET

Company Participants

Caroline Dong - Head, IR

Jeff Huijian He - President and Director

Beck Chen - CFO

Conference Call Participants

Ronald Keung - Goldman Sachs

Thomas Chong - Jefferies

Alicia Yap - Citigroup

Lei Zhang - Bank of America Securities

Andre Chang - JPMorgan

Wei Xiong - UBS

Operator

Good morning, ladies and gentlemen, and thank you for standing by for Dada's Second Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, today's conference call is being recorded.

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 second quarter 2023 earnings conference call. On the call today from Dada, we have Mr. Jeff He, President; and Mr. Beck Chen, CFO.

Mr. He will talk about our operations and the company highlights, then Mr. Chen will discuss the financials and guidance. 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 He

Thank you, Caroline, and thank you all for joining us today.

During the second quarter of 2023, Dada Group continued to produce strong revenue growth while significantly enhancing our operational efficiency. Our total net revenues increased by 23% year-over-year. We also achieved an important milestone in this quarter by recording our first-ever positive adjusted net income, thanks to a more than 17 percentage points improvement in our adjusted net margin.

I will begin today's presentation by discussing our cooperation with JD.com, followed by operational highlights from our two platforms. I will then hand over to Beck who will take you through our detailed financial results. Let's start with some updates on Dada's cooperation with JD.com.