0000000000-22-010349.txt : 20221128 0000000000-22-010349.hdr.sgml : 20221128 20220921093004 ACCESSION NUMBER: 0000000000-22-010349 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20220921 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Dada Nexus Ltd CENTRAL INDEX KEY: 0001793862 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 22F, ORIENTAL FISHERMAN'S WHARF STREET 2: NO. 1088, YANGSHUPU ROAD, YANGPU DISTRCT CITY: SHANGHAI STATE: F4 ZIP: 200082 BUSINESS PHONE: 86-2131657167 MAIL ADDRESS: STREET 1: 22F, ORIENTAL FISHERMAN'S WHARF STREET 2: NO. 1088, YANGSHUPU ROAD, YANGPU DISTRCT CITY: SHANGHAI STATE: F4 ZIP: 200082 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]#;VQO7!E+UA/8FIE8W0O5VED=&@@,30R."],96YG=&@@,S8U+T)I='-097)# M;VUP;VYE;G0@.#X^7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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filename2.txt United States securities and exchange commission logo September 21, 2022 Beck Chen Chief Financial Officer Dada Nexus Ltd 22/F Oriental Fisherman's Wharf No. 1088 Yangshupu Road Yangpu District, Shanghai 200082 People's Republic of China Re: Dada Nexus Ltd Form 20-F for the Year Ended December 31, 2021 Filed on April 28, 2022 File No. 001-39305 Dear Mr. Chen: We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Annual Report on Form 20-F Item 3 - Key Information D. Risk Factors, page 16 1. In your summary of risk factors, disclose the risk that the Chinese government may intervene or influence your operations at any time, or may exert more control over offerings conducted overseas and/or foreign investment in China-based issuers, which could result in a material change in your operations and/or the value of the securities you are registering for sale. Acknowledge any risks that any actions by the Chinese government to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers could significantly limit or completely hinder your ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless. Beck Chen FirstName Dada NexusLastNameBeck Chen Ltd Comapany 21, September NameDada 2022 Nexus Ltd September Page 2 21, 2022 Page 2 FirstName LastName 2. For each summary risk factor related to doing business in China, provide a specific cross- reference to the more detailed risk factor discussion. 3. In light of recent events indicating greater oversight by the Cyberspace Administration of China (CAC) over data security, particularly for companies seeking to list on a foreign exchange, please revise your disclosure to explain how this oversight impacts your business and your offering and to what extent you believe that you are compliant with the regulations or policies that have been issued by the CAC to date. Item 5.Operating and Financial Review and Prospects Results of Operations, page 103 4. In your discussion, you cite multiple various factors as impacting your results of operations but provide no quantification of the contribution of each factor to the material changes in the various line items discussed. For instance, on page 104, you attributed an increase in revenues to two factors offset by a third factor. None of these factors are quantified. On page 105 you attribute an increase in operations and support costs to two factors also offset by a third factor. Again none of these factors are quantified. Please see the guidance provided by Section III.D of Release 33-6835 and, as applicable in future filings, revise throughout to quantify the impact of each material factor discussed when your results are impacted by two or more material factors. In addition, you should remove vague terms such as primarily in favor of specific quantifications. Financial Statements 2 Principal Accounting Policies 2.25 Segment reporting, page F-25 5. In light of the evolving nature of your business model and in particular the new JD Logistics business model adopted in April 2022, clarify for us how you determined that you operate in a single operating segment. Address for us your consideration of the operating segment criteria of ASC 280-10-50-1 as applicable to your "two major complementary business platforms: Dada Now, (your) local on-demand delivery platform, and JDDJ, (your) local on-demand retail platforms." Tell us your consideration of the aggregation criteria of ASC 280-10-50-11. General 6. Please revise to refrain from using terms such as we or our when describing activities or functions of the VIEs. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Beck Chen Dada Nexus Ltd September 21, 2022 Page 3 You may contact Joseph Kempf, Senior Staff Accountant, at 202-551-3352 or Robert Littlepage, Accountant Branch Chief, at 202-551-3361 if you have questions regarding comments on the financial statements and related matters. Please contact Kyle Wiley, Staff Attorney, at 202-344-5791 or Jeffrey Kauten, Staff Attorney, at 202-551-3447 with any other questions. FirstName LastNameBeck Chen Sincerely, Comapany NameDada Nexus Ltd Division of Corporation Finance September 21, 2022 Page 3 Office of Technology FirstName LastName