.png)
.png)
Didi Global, the Chinese ride-hailing giant, announced on Wednesday that it achieved record highs in both order volume and transaction value during the three months ending in June.
The company reported a 17.4 percent increase in orders across its operations in China and overseas markets, reaching nearly 3.9 billion orders. Additionally, its gross transaction value (GTV) surged by 14.7 percent from the previous year, amounting to 96.3 billion yuan (US$13.5 billion), according to the latest earnings report.
"Transactions and GTV also saw healthy growth, and both reached new record highs during the past quarter," said Will Cheng Wei, Didi’s chairman and CEO.
Didi, which delisted from the New York Stock Exchange in 2022 and now trades on the over-the-counter market in the US, reported a profit of 1.4 billion yuan for the June quarter. This marks a significant turnaround compared to the loss of 267 million yuan recorded during the same period in 2023. Revenue also saw a modest increase, growing by 4.1 percent to reach 50.9 billion yuan.
In June, Didi indicated that there is no specific timeline for its plans to list shares in Hong Kong.
The company’s recent growth represents a stark contrast to its struggles a few years ago. Didi's delisting from the New York Stock Exchange followed its initial public offering (IPO) in 2021, which led to a cybersecurity investigation by Chinese authorities. Despite warnings from the Cyberspace Administration of China to delay its IPO, Didi proceeded with the listing. Consequently, its apps were removed from app stores, and the platform ceased registering new users. However, Didi Chuxing, the company's main app, resumed user registrations in January 2023.
While the investigation significantly disrupted Didi’s operations for a year, it did not weaken the company’s dominance in China’s ride-hailing industry. The company continued to see an increase in orders in 2021, and in 2023, Didi reported its first quarterly profit since the investigation.
By fLEXI tEAM
Comentários