Dada Group Included On Hurun’s Top 500 Private Enterprises In China List
Dada Group (Nasdaq: DADA) (“Dada” or the “Company”), China’s leading local on-demand delivery and retail platform, is pleased to announce the Company’s inclusion on Hurun Research Institute’s “China’s Top 500 Private Enterprises in 2020” list, based on market value. “Chinese private enterprises” refers to non-state-controlled enterprises with headquarters in mainland China. Dada ranked 211th.
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“We are pleased to have been included on Hurun’s list and believe it demonstrates the significant advantages of Dada’s on-demand retail and delivery platforms,” said Philip Kuai, Founder, Chairman and Chief Executive Officer of Dada Group. “We’re proud of our work digitalizing local retail and offering customers a highly efficient, convenient shopping experience and thank our employees, dedicated riders, partners and investors for their ongoing support.”
In addition to the strong performance of the sector and Dada’s long-term growth potential, the ranking of the Company among China’s Top 500 Private Enterprises also demonstrates Dada’s impressive brand value.
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A Leader in the On-Demand Retail Industry
Consumer habits have changed as the world continues to grapple with the COVID-19 pandemic, and the on-demand retail market has seen substantial growth and rapid development. According to data from the Huaon Institute, the on-demand delivery industry grew 30%-40% during the past three years and is expected to reach 170 billion yuan by the end of 2020.
Dada has always prioritized “value creation” in corporate development. The Company empowers retailers, brand owners and users to kick start their digital transformation by growing online traffic, cutting costs and enhancing efficiency through its Haibo system. Dada’s rapid growth comes as a result of the channel advantage and regional coverage of intra-city retail, expanding product categories, partnership with retailers and brand owners and continuous innovation in brand marketing.
As the local on-demand retail market keeps growing, Dada Group’s industry-leading business model and omni-channel digital platform will lead to revenue growth and new services for Dada Group users, further enhancing the value of on-demand retail channels.
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