 SHANGHAI, China, June 07, 2021 GLOBE NEWSWIRE -- Dada Nexus Limited Dada or the Company NASDAQ: DADA, Chinas leading local on-demand delivery and retail platform, today announced that the board of directors of the Company has authorized a share repurchase program whereby Dada is authorized to repurchase its own ordinary shares in the form of American depository shares with an aggregate value of up to US150 million during the 12-month period. The Company expects to fund the repurchase out of its existing cash balance. The proposed share repurchase may be effected on the open market at prevailing market prices andor in negotiated transactions off the market from time to time as market conditions warrant in accordance with applicable requirements of Rule 10b5-1 andor Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. 