Dada Nexus (DADA) has released an update.
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JD.com, through its wholly-owned subsidiary, has acquired Walmart’s entire stake in Dada Nexus Limited, totaling 63.2% of Dada’s shares. Following the sale, Walmart China CEO Christina Zhu resigned from Dada’s board. The company anticipates ongoing collaboration with Walmart and views JD.com’s increased investment as a vote of confidence in its long-term growth within JD.com’s ecosystem.
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