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Dada's latest equity exposure: Jingdong is the major shareholder, and Kuai Jiaqi holds 7.8% of the shares

via:博客园     time:2021/4/13 7:08:50     readed:228


By Lei Jianping

Source: touchweb (ID: touchweb)

Dada group recently released the form 20-F document to the US SEC. According to the document, as of February 28, 2021, Kuai Jiaqi, founder, chairman and CEO of dada group, holds 7.8% of the shares, Jun Yang (Yang Jun) holds 1.6% of the shares, and Jingdong group holds 46% of the shares, which is a major shareholder;


As of February 26, 2021, dada's equity structure

Walmart entities holds 10.1%, Sequoia China 7.3% and DST 5.4%.

Sequoia and DST reduce holdings and Jingdong increase Holdings

Dada group was listed on NASDAQ in June 2020. In December of the same year, it issued 10.35 million ads shares, raising more than US $500 million.


As of December 2020, dada's equity structure

After the fund-raising transaction, Kuai Jiaqi holds 7.7% of the shares, Yang Jun holds 1.6%; Jingdong holds 46.1% of the shares, Wal Mart holds 10.2%, Sequoia Capital holds 9.8%, DST holds 8.1%, and pleasant Lake limited holds 7.2%.

It can be seen from the comparison that Sequoia Capital and DST have reduced their holdings to a certain extent. Sequoia Capital Holdings decreased by 2.5 percentage points; DST holdings decreased by 2.7 percentage points.

In March 2021, dada group announced that Jingdong group would subscribe for the newly issued common shares of dada group with us $800 million. After the completion of the transaction, including its current shares, Jingdong would hold 51% of dada group's shares.

As of February 26, 2021, JD has three seats on dada's board of directors: Xu Lei, CEO of Jingdong retail group, Xu ran, CFO of Jingdong group, and Yu Rui, CFO of Jingdong Logistics.


In addition, Zhou Kui and Sina cfozhangyi, partners of Sequoia China, are independent directors.


According to the financial report, dada's revenue in 2020 was 5.74 billion yuan (about 880 million US dollars), compared with 3.1 billion yuan in the same period of last year; its net loss was 1.764 billion yuan (about 270 million US dollars), compared with 1.75 billion yuan in the same period of last year.


Dada's total net revenue in the fourth quarter of 2020 was 2.0158 billion yuan, an increase of 69.9% over the same period last year.


Dada group's operating loss in the fourth quarter of 2020 was 549 million yuan, compared with 558 million yuan in the same period of last year. Dada group's operating profit margin in the fourth quarter of 2020 is - 27%.

As of today, dada's share price was $25.64, with a market value of $6.044 billion.

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