Filing: JD-backed Dada Nexus is investigating "suspicious practices", including a ~$140M overstatement of revenue and costs in 2023, triggering a 46% stock dive (Jane Zhang/Bloomberg)

January 9, 2024

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Jane Zhang / Bloomberg:

Filing: JD-backed Dada Nexus is investigating “suspicious practices”, including a ~$140M overstatement of revenue and costs in 2023, triggering a 46% stock dive — – Dada discloses it may have overstated both revenue and cost — The company is one of JD’s faster-growing subsidiaries

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