Didi Global Achieves Quarterly Profit Amid Record Ride-Hailing Transactions
Significant Growth for Didi Global
Chinese ride-hailing giant Didi Global indicated remarkable progress in the recent quarterly report. The company posted record highs in both order volume and transaction value for the three months through June.
Transaction Metrics
- Orders increased by 17.4% to nearly 3.9 billion
- Gross transaction value (GTV) reached 96.3 billion yuan (approx. US$13.5 billion), a 14.7% uptick from last year
CEO Will Cheng Wei highlighted the healthy growth, stating that "Transactions and GTV also saw healthy growth, and both reached new record highs during the past quarter." This success follows a challenging period for the firm, which delisted from the New York Stock Exchange in 2022 and now trades on the over-the-counter market in the US.
Financial Performance
- Profit for the June quarter: 1.4 billion yuan
- Previous loss: 267 million yuan in Q2 2023
- Revenue increase: 4.1% to 50.9 billion yuan
Despite a US$1.2 billion fine resulting from a cybersecurity investigation by Beijing, Didi's market presence remains commanding. With these recent achievements, there’s optimism about the company’s future, especially regarding potential plans for a share float in Hong Kong.
Looking Ahead in the Ride-Hailing Sector
As Didi continues its recovery, industry analysts will be watching closely to see if it can sustain this momentum and navigate international markets successfully.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.