On January 8th, JD.com, Inc announced on The Stock Exchange of Hong Kong that its subsidiary Dada Nexus
Dada has announced in a statement during routine internal auditing that suspicious activities have been discovered, raising doubts about the company’s online advertising and marketing service revenue for 2023. Dada stated that based on preliminary assessment, the company estimates that the revenue from online advertising and marketing services of approximately 500 million yuan (approximatly $70 million) and operating costs of 500 million yuan for the first three quarters of 2023 may have been overstated. The Audit Committee is hiring independent professional advisors to assist with this matter, including a…