We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
DiDi Global Inc | NYSE:DIDI | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.29 | 0 | 01:00:00 |
DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI), the world’s leading mobility technology platform, today announced its unaudited interim condensed financial results for the second quarter ended June 30, 2021 and the third quarter ended September 30, 2021.
DiDi Global Inc.
Unaudited interim condensed consolidated balance sheets
(Amounts in millions, except for per share data and otherwise noted, unaudited)
As of
December 31,
June 30,
September 30,
2020
2021
2021
2021
RMB
RMB
RMB
US$ (1)
ASSETS Current assets: Cash and cash equivalents19,372
26,096
48,649
7,550
Restricted cash
2,238
169
671
104
Short-term investments
37,398
15,169
12,554
1,948
Accounts and notes receivable, net of allowance for credit losses of RMB556, RMB645 and RMB722, respectively
2,438
3,376
3,008
467
Loan receivable, net of allowance for credit losses of RMB146, RMB230 and RMB296, respectively
2,878
4,609
4,697
729
Amounts due from related parties
103
2,368
2,449
380
Prepayments, receivables and other current assets, net
4,255
4,267
5,007
778
Total current assets
68,682
56,054
77,035
11,956
Non-current assets: Investment securities
573
17,184
2,251
349
Long-term investments, net
7,105
11,238
9,020
1,400
Operating lease right-of-use assets
1,931
1,260
1,301
202
Property and equipment, net
9,819
10,803
8,461
1,313
Intangible assets, net
5,297
4,334
3,860
599
Goodwill
49,124
49,199
48,962
7,599
Non-current restricted cash
21
15
-
-
Deferred tax assets, net
191
163
195
30
Other non-current assets, net
4,522
5,022
4,746
737
Total non-current assets
78,583
99,218
78,796
12,229
Total assets
147,265
155,272
155,831
24,185
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY (DEFICIT) Current liabilities: Short-term borrowings
5,827
7,259
7,422
1,152
Accounts and notes payable
7,353
4,589
4,819
748
Deferred revenue and customer advances
915
780
711
110
Operating lease liabilities, current portion
679
453
471
73
Amounts due to related parties
282
242
356
55
Accrued expenses and other current liabilities
11,304
11,241
12,774
1,983
Total current liabilities
26,360
24,564
26,553
4,121
Non-current liabilities: Long-term borrowings
1,453
2,383
1,967
305
Operating lease liabilities, non-current portion
1,172
741
734
114
Deferred tax liabilities
844
627
581
90
Other non-current liabilities
286
304
281
44
Total non-current liabilities
3,755
4,055
3,563
553
Total liabilities
30,115
28,619
30,116
4,674
Commitments and contingencies Mezzanine equity Convertible preferred shares (2)
189,839
189,839
-
-
Convertible redeemable non-controlling interests
3,345
11,836
12,052
1,870
Convertible non-controlling interests
100
1,069
1,069
166
Total Mezzanine Equity
193,284
202,744
13,121
2,036
SHAREHOLDERS’ EQUITY (DEFICIT): DiDi Global Inc. shareholders’ equity (deficit): Ordinary shares (US$0.00002 par value; 1,617,583,821 shares, 1,617,583,821 shares and 5,000,000,000 shares authorized; 124,067,444 shares, 193,302,859 shares and 1,205,810,369 shares issued; 108,531,508 shares, 168,885,317 shares and 1,181,921,441 shares outstanding as of December 31, 2020, June 30, 2021 and September 30,2021, respectively)
-
-
-
-
Treasury shares
-
-
-
-
Additional paid-in capital
12,178
31,705
250,535
38,882
Statutory reserves
17
17
17
3
Accumulated other comprehensive loss
(2,002
)
(2,698
)
(2,448
)
(380
)
Accumulated deficit(86,411
)
(105,198
)
(135,578
)
(21,041
)
Total DiDi Global Inc. shareholders’ equity (deficit)(76,218
)
(76,174
)
112,526
17,464
Non-controlling interests
84
83
68
11
Total shareholders’ equity (deficit)
(76,134
)
(76,091
)
112,594
17,475
Total liabilities, mezzanine equity and shareholders’ equity (deficit)
147,265
155,272
155,831
24,185
(1) This results announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) for the convenience of the reader. Unless otherwise stated, all translations of RMB into US$ were made at RMB6.4434 to US$1.00, the exchange rate on September 30, 2021 as set forth in the H.10 statistical release of the Federal Reserve Board.
(2) The convertible preferred shares were converted to ordinary shares immediately prior to the closing of the Company’s initial public offering in early July.
DiDi Global Inc.
Unaudited interim condensed consolidated statements of comprehensive income (loss)
(Amounts in millions, except for per share data and otherwise noted, unaudited)
For the Three Months Ended June 30,
For the Six Months Ended June 30,
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ Revenues China Mobility29,433
44,804
48,378
84,039
41,111
39,009
6,054
89,489
123,048
19,097
International
373
807
1,140
1,611
502
966
150
1,642
2,577
400
Other Initiatives
1,361
2,601
2,121
4,725
1,785
2,700
419
3,906
7,425
1,152
Total revenues
31,167
48,212
51,639
90,375
43,398
42,675
6,623
95,037
133,050
20,649
Costs and expenses Cost of revenues (1)
(26,627
)
(42,561
)
(43,981
)
(80,158
)
(37,323
)
(40,784
)
(6,330
)
(81,304
)
(120,942
)
(18,770
)
Operations and support(926
)
(1,758
)
(1,823
)
(3,907
)
(1,219
)
(1,910
)
(296
)
(3,042
)
(5,817
)
(903
)
Sales and marketing(1,498
)
(3,904
)
(3,267
)
(9,011
)
(2,654
)
(4,441
)
(689
)
(5,921
)
(13,452
)
(2,088
)
Research and development(1,435
)
(2,746
)
(2,913
)
(4,608
)
(1,568
)
(2,341
)
(363
)
(4,481
)
(6,949
)
(1,078
)
General and administrative(1,485
)
(21,847
)
(3,781
)
(23,949
)
(1,732
)
(2,253
)
(350
)
(5,513
)
(26,202
)
(4,066
)
Total costs and expenses(31,971
)
(72,816
)
(55,765
)
(121,633
)
(44,496
)
(51,729
)
(8,028
)
(100,261
)
(173,362
)
(26,905
)
Loss from operations (2)(804
)
(24,604
)
(4,126
)
(31,258
)
(1,098
)
(9,054
)
(1,405
)
(5,224
)
(40,312
)
(6,256
)
Interest income298
190
635
377
309
202
31
944
579
90
Interest expenses
(20
)
(86
)
(39
)
(147
)
(46
)
(65
)
(10
)
(85
)
(212
)
(33
)
Investment income (loss), net (3)561
(100
)
99
12,261
830
(20,772
)
(3,224
)
929
(8,511
)
(1,321
)
Income (loss) from equity method investments, net(162
)
(130
)
(357
)
(175
)
(151
)
115
18
(508
)
(60
)
(9
)
Other income (loss), net11
532
(479
)
148
780
(689
)
(107
)
301
(541
)
(84
)
Income (loss) before income taxes(116
)
(24,198
)
(4,267
)
(18,794
)
624
(30,263
)
(4,697
)
(3,643
)
(49,057
)
(7,613
)
Income tax benefits (expenses)46
(73
)
225
6
41
(112
)
(17
)
266
(106
)
(16
)
Net income (loss)(70
)
(24,271
)
(4,042
)
(18,788
)
665
(30,375
)
(4,714
)
(3,377
)
(49,163
)
(7,629
)
Less: Net income (loss) attributable to non-controlling interest shareholders(7
)
1
(17
)
(1
)
(7
)
5
1
(24
)
4
1
Net income (loss) attributable to DiDi Global Inc.
(63
)
(24,272
)
(4,025
)
(18,787
)
672
(30,380
)
(4,715
)
(3,353
)
(49,167
)
(7,630
)
Accretion of convertible redeemable non-controlling interests to redemption value(41
)
(175
)
(60
)
(265
)
(45
)
(216
)
(34
)
(105
)
(481
)
(75
)
Deemed dividends to preferred shareholders upon repurchases of convertible preferred shares(1
)
-
(1
)
-
-
-
-
(1
)
-
-
Income allocation to participating preferred shares
-
-
-
-
(627
)
-
-
-
-
-
Net loss attributable to ordinary shareholders of DiDi Global Inc.
(105
)
(24,447
)
(4,086
)
(19,052
)
-
(30,596
)
(4,749
)
(3,459
)
(49,648
)
(7,705
)
Net income (loss)(70
)
(24,271
)
(4,042
)
(18,788
)
665
(30,375
)
(4,714
)
(3,377
)
(49,163
)
(7,629
)
Other comprehensive income (loss): Foreign currency translation adjustments, net of tax of nil(104
)
(1,117
)
(267
)
(691
)
(2,863
)
250
39
(3,130
)
(441
)
(68
)
Share of other comprehensive loss of equity method investees-
(2
)
(1
)
(5
)
-
-
-
(1
)
(5
)
(1
)
Total other comprehensive income (loss)(104
)
(1,119
)
(268
)
(696
)
(2,863
)
250
39
(3,131
)
(446
)
(69
)
Total comprehensive loss(174
)
(25,390
)
(4,310
)
(19,484
)
(2,198
)
(30,125
)
(4,675
)
(6,508
)
(49,609
)
(7,698
)
Less: comprehensive income (loss) attributable to non-controlling interest shareholders(7
)
1
(17
)
(1
)
(7
)
5
1
(24
)
4
1
Comprehensive loss attributable to DiDi Global Inc.
(167
)
(25,391
)
(4,293
)
(19,483
)
(2,191
)
(30,130
)
(4,676
)
(6,484
)
(49,613
)
(7,699
)
Accretion of convertible redeemable non-controlling interests to redemption value(41
)
(175
)
(60
)
(265
)
(45
)
(216
)
(34
)
(105
)
(481
)
(75
)
Deemed dividends to preferred shareholders upon repurchases of convertible preferred shares(1
)
-
(1
)
-
-
-
-
(1
)
-
-
Income allocation to participating preferred shares
-
-
-
-
(627
)
-
-
-
-
-
Comprehensive loss attributable to ordinary shareholders of DiDi Global Inc.
(209
)
(25,566
)
(4,354
)
(19,748
)
(2,863
)
(30,346
)
(4,710
)
(6,590
)
(50,094
)
(7,774
)
Weighted average number of ordinary shares used in computing net loss per share —Basic107,619,131
120,225,151
105,218,085
114,671,250
107,980,508
1,180,836,142
1,180,836,142
106,145,614
473,964,914
473,964,914
—Diluted
107,619,131
120,225,151
105,218,085
114,671,250
107,980,508
1,180,836,142
1,180,836,142
106,145,614
473,964,914
473,964,914
Net loss per share attributable to ordinary shareholders —Basic
(0.97
)
(203.34
)
(38.84
)
(166.14
)
-
(25.91
)
(4.02
)
(32.59
)
(104.75
)
(16.26
)
—Diluted(0.97
)
(203.34
)
(38.84
)
(166.14
)
-
(25.91
)
(4.02
)
(32.59
)
(104.75
)
(16.26
)
Weighted average number of ADSs used in computing net loss per ADS —Basic430,476,524
480,900,604
420,872,340
458,685,000
431,922,032
4,723,344,568
4,723,344,568
424,582,456
1,895,859,656
1,895,859,656
—Diluted
430,476,524
480,900,604
420,872,340
458,685,000
431,922,032
4,723,344,568
4,723,344,568
424,582,456
1,895,859,656
1,895,859,656
Net loss per ADS attributable to ordinary shareholders —Basic
(0.24
)
(50.84
)
(9.71
)
(41.54
)
-
(6.48
)
(1.01
)
(8.15
)
(26.19
)
(4.06
)
—Diluted(0.24
)
(50.84
)
(9.71
)
(41.54
)
-
(6.48
)
(1.01
)
(8.15
)
(26.19
)
(4.06
)
(1) For the three months ended September 30, 2021, cost of revenues included an asset impairment charge of RMB2.2 billion (US$0.3 billion) for certain assets of the Company's bike and e-bike sharing business, which was mainly caused by the adverse change in such business in the third quarter of 2021. (2) Included share-based compensation expenses as follows:For the Three Months Ended June 30,
For the Six Months Ended June 30,
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ Operations and support13
59
45
103
14
54
8
59
157
24
Sales and marketing
35
105
104
155
51
85
13
155
240
37
Research and development
143
1,181
450
1,377
162
501
78
612
1,878
291
General and administrative
344
20,476
1,599
20,883
359
484
75
1,958
21,367
3,316
(3) Investment loss, net for the three months ended September 30, 2021 was RMB20.8 billion (US$3.2 billion), primarily attributable to the investment loss arising from changes in fair value of the Company’s investments in Chengxin (a company engaged in community group buying business) due to the adverse change in Chengxin’s business in the third quarter of 2021.
DiDi Global Inc.
Unaudited interim condensed consolidated statements of cash flows
(Amounts in millions, unaudited)
For the Three Months Ended June 30,
For the Six Months Ended June 30,
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ Net cash provided by (used in) operating activities1,686
(1,189
)
(1,297
)
(7,327
)
2,993
(5,055
)
(785
)
1,696
(12,382
)
(1,922
)
Net cash provided by (used in) investing activities(9,961
)
5,364
(5,732
)
3,350
465
306
47
(5,267
)
3,656
567
Net cash provided by (used in) financing activities
1,289
(1,750
)
4,298
8,531
2,355
27,739
4,305
6,653
36,270
5,629
Effect of exchange rate changes on cash, cash equivalents and restricted cash
241
(136
)
(232
)
95
(27
)
50
9
(259
)
145
23
Net increase (decrease) in cash, cash equivalents and restricted cash
(6,745
)
2,289
(2,963
)
4,649
5,786
23,040
3,576
2,823
27,689
4,297
Cash, cash equivalents and restricted cash at the beginning of the period
17,462
23,991
13,680
21,631
10,717
26,280
4,078
13,680
21,631
3,357
Cash, cash equivalents and restricted cash at the end of the period
10,717
26,280
10,717
26,280
16,503
49,320
7,654
16,503
49,320
7,654
Selected financial information of segments The following table presents information about revenues and Adjusted EBITA by segment, and a reconciliation from the segment Adjusted EBITA to total consolidated loss from operations for the periods presented:
For the Three Months Ended June 30,
For the Six Months Ended June 30,
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ Revenues: (Amounts in millions, unaudited) China Mobility29,433
44,804
48,378
84,039
41,111
39,009
6,054
89,489
123,048
19,097
International
373
807
1,140
1,611
502
966
150
1,642
2,577
400
Other Initiatives
1,361
2,601
2,121
4,725
1,785
2,700
419
3,906
7,425
1,152
Total segment revenues
31,167
48,212
51,639
90,375
43,398
42,675
6,623
95,037
133,050
20,649
Adjusted EBITA: China Mobility
1,733
1,686
2,349
5,304
2,120
(29
)
(5
)
4,469
5,275
819
International
(590
)
(1,191
)
(1,261
)
(2,196
)
(763
)
(1,789
)
(278
)
(2,024
)
(3,985
)
(618
)
Other Initiatives(916
)
(2,801
)
(2,012
)
(10,879
)
(1,374
)
(5,678
)
(881
)
(3,386
)
(16,557
)
(2,570
)
Total Adjusted EBITA (non-GAAP)227
(2,306
)
(924
)
(7,771
)
(17
)
(7,496
)
(1,164
)
(941
)
(15,267
)
(2,369
)
Share-based compensation(535
)
(21,821
)
(2,198
)
(22,518
)
(586
)
(1,124
)
(174
)
(2,784
)
(23,642
)
(3,668
)
Amortization of intangible assets(496
)
(477
)
(1,004
)
(969
)
(495
)
(434
)
(67
)
(1,499
)
(1,403
)
(219
)
Total consolidated loss from operations(804
)
(24,604
)
(4,126
)
(31,258
)
(1,098
)
(9,054
)
(1,405
)
(5,224
)
(40,312
)
(6,256
)
The following table presents the total depreciation expenses of property and equipment by segment for the periods presented:For the Three Months Ended June 30,
For the Six Months Ended June 30,
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ (Amounts in millions, unaudited) China Mobility66
72
133
151
62
71
11
195
222
34
International
14
28
28
52
15
30
5
43
82
13
Other Initiatives
646
976
1,180
1,941
790
1,099
172
1,970
3,040
472
Total depreciation expenses of property and equipment
726
1,076
1,341
2,144
867
1,200
188
2,208
3,344
519
DiDi Global Inc.
Unaudited reconciliation of GAAP and Non-GAAP results
(Amounts in millions, unaudited)
For the Three Months Ended June 30,
For the Six Months Ended June 30,
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB US$ RMB RMB US$ Net income (loss)(70
)
(24,271
)
(4,042
)
(18,788
)
665
(30,375
)
(4,714
)
(3,377
)
(49,163
)
(7,629
)
Less: Interest income(298
)
(190
)
(635
)
(377
)
(309
)
(202
)
(31
)
(944
)
(579
)
(90
)
Add: Interest expenses20
86
39
147
46
65
10
85
212
33
Less: Investment income (loss), net
(561
)
100
(99
)
(12,261
)
(830
)
20,772
3,224
(929
)
8,511
1,321
Add: Loss (income) from equity method investments, net
162
130
357
175
151
(115
)
(18
)
508
60
9
Less: Other income (loss), net
(11
)
(532
)
479
(148
)
(780
)
689
107
(301
)
541
84
Less: Income tax benefits (expenses)
(46
)
73
(225
)
(6
)
(41
)
112
17
(266
)
106
16
Loss from operations
(804
)
(24,604
)
(4,126
)
(31,258
)
(1,098
)
(9,054
)
(1,405
)
(5,224
)
(40,312
)
(6,256
)
Add: Share-based compensation expenses535
21,821
2,198
22,518
586
1,124
174
2,784
23,642
3,668
Add: Amortization of intangible assets
496
477
1,004
969
495
434
67
1,499
1,403
219
Adjusted EBITA (non-GAAP)
227
(2,306
)
(924
)
(7,771
)
(17
)
(7,496
)
(1,164
)
(941
)
(15,267
)
(2,369
)
Third Quarter 2021 Financial and Operational Metrics
Second Quarter 2021 Financial and Operational Metrics
On December 3, 2021, DiDi announced that its board of directors (the “Board”) has authorized and supports the Company to undertake the necessary procedures and file the relevant application(s) for the delisting of the Company’s ADSs from the New York Stock Exchange, while ensuring that ADSs will be convertible into freely tradable shares of the Company on another internationally recognized stock exchange at the election of ADS holders. The Company will organize a shareholders meeting to vote on the above matter at an appropriate time in the future, following necessary procedures. The Board has also authorized the Company to pursue a listing of its class A ordinary shares on the Main Board of the Hong Kong Stock Exchange. The Company is executing above plans and will update investors in due course.
About DiDi Global Inc.
DiDi Global Inc. (NYSE: DIDI) is the world’s leading mobility technology platform. It offers a wide range of app-based services across Asia Pacific, Latin America and Africa, as well as in Central Asia and Russia, including ride hailing, taxi hailing, chauffeur, hitch and other forms of shared mobility as well as auto solutions, food delivery, intra-city freight and financial services.
Use of Non-GAAP Financial Measure
In evaluating the business, the Company considers and uses Adjusted EBITA, a non-GAAP financial measure, to supplement the review and assessment of its operating performance. The Company defines Adjusted EBITA as net income or loss before (i) interest income, (ii) interest expenses, (iii) investment income (loss), net, (iv) impairment loss for equity investments accounted for using cost method/Measurement Alternative, (v) loss (income) from equity method investments, net, (vi) other income (loss), net, (vii) income tax benefits (expenses), (viii) share-based compensation expense, and (ix) amortization of intangible assets.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. It should not be considered in isolation or construed as an alternative to net income (loss) or any other measure of performance or as an indicator of the Company’s operating performance. Investors are encouraged to review this historical non-GAAP financial measure in light of the most directly comparable GAAP measure. The non-GAAP financial measure may not be comparable to similarly titled measures presented by other companies.
For more information on the non-GAAP financial measure, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth in this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars were made at a rate of RMB6.4434 to US$1.00, the exchange rate in effect as of September 30, 2021 as set forth in the H.10 statistical release of the Federal Reserve Board.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
1 Adjusted EBITA (non-GAAP) is defined as net income or loss before (i) interest income, (ii) interest expenses, (iii) investment income (loss), net, (iv) impairment loss for equity investments accounted for using cost method/Measurement Alternative, (v) loss (income) from equity method investments, net, (vi) other income (loss), net, (vii) income tax benefits (expenses), (viii) share-based compensation expense, and (ix) amortization of intangible assets.
2 GTV, which stands for gross transaction value, refers to the total dollar value, including any applicable taxes, tolls and fees, of completed transactions on the Company’s platform without any adjustment for consumer incentives or for earnings and incentives paid to drivers for mobility services, merchant or delivery partners for food delivery services, or service partners for other initiatives.
3 Platform Sales refers to GTV less all of the earnings and incentives paid to drivers and partners, tolls, fees, taxes and others.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211228005228/en/
For investor inquiries: DiDi Global Inc. Tianyi Wang Email: ir@didiglobal.com
For media inquiries: DiDi Global Inc. Global Communications Team Email: globalpr@didiglobal.com
1 Year DiDi Global Chart |
1 Month DiDi Global Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions