Chinese grocery delivery company Dada is confident it can stand up to U.S. scrutiny as a newly listed company in New York.
for on-demand retail delivery increased to 11.9 million — up from 7.1 million a year ago, while the average order size rose more than 50% to 149.5 yuan .
Like many start-ups, particularly Chinese technology firms, Dada is still burning cash. The company reported an operating loss of 1.7 billion yuan in 2019, slightly less than nearly 2 billion yuan reported for 2018. Net revenues rose from more than 60% during the same time period, from 1.9 billion yuan in 2018 to 3.1 billion yuan in 2019.
"Chinese companies appear to be undeterred, based on recent filing activity," Kennedy said in an email last week.Even though analysts said Hong Kong, London and even mainland China would become more attractive places to list as tensions rise with the U.S., affiliation with the Nasdaq or New York Stock Exchange brandsHowever, newly listed companies may need to work harder to gain investor interest in an increasingly fraught geopolitical environment.
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