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)

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