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

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

Source: TechMeme
Source Link: http://www.techmeme.com/240108/p46#a240108p46