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(June 8) Dada surged more than 8% in premarket trading.

Hours ago, Dada Nexus reports Q1 adjusted lossof RMB0.65 per share vs. a loss of RMB1.11 per share in lastyear's quarter.

Total net revenues rose 52.1% Y/Y to RMB1,672.8 million.

Non-GAAP loss from operations was RMB648.1 million, compared with RMB205.5 million.

As of March 31, 2021, the Company had RMB5,485.8 million in cash, cash equivalents, restricted cash and short-term investments.

Total Gross Merchandise Volume of JDDJ for the twelve months ended March 31, 2021 rose 79% Y/Y to RMB28.1 billion.

Number of active consumers for the twelve months ended March 31, 2021 rose 67% Y/Y to 46.1M.

Q2 Outlook:Total revenue of RMB1.4B-1.45B (about $219-$226.9M) vs. a consensus of $244.4M.

“We delivered another solid quarter and expect the strong growth momentum will continue,” said Beck Chen, Chief Financial Officer of Dada. “We expect the pro forma growth of total revenue of the Q2 will be 72% to 78%, adjusting the revenue recognition of last-mile delivery services to net basis in Q2 of 2020 and 2021. We are excited with JDDJ’s strong growth momentum, and are confident that year-over-year growth rate of JDDJ’s revenue will be over 80% in Q2 and will further accelerate in the second half of 2021.”

The Company also announces $150 million share repurchase plan.