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by winston » Thu Jan 13, 2022 8:41 am
Didi aims to file for the Hong Kong listing by end-April and list by June.
It has barred current and former employees from selling shares of the company indefinitely.
by winston » Mon Jan 17, 2022 11:05 am
As of 2020, DiDi Global had a total of 15,914 employees and clients in approximately 400 cities.
According to the unaudited financial results in the quarter of 2021 that ended in September, the company garnered revenues totaling $6.623 billion. Last year, the company generated a whopping $21.633 billion.
According to the 2020 financial reports, the basic EPS was $-3.82.
The current ratio in September 2021 was 2.90 and the debt to equity ratio was 0.02.
It trades at only 12.83 times its enterprise value to forward EBIT ratio and is expected to grow EBIT by 407.6% in 2022, giving it phenomenal growth momentum.
by winston » Wed Feb 16, 2022 5:13 am
Ride-hailing may see staff reductions of up to 15%, one of the people said, though drivers -- gig workers who aren’t officially included in the company’s headcount -- won’t be affected.
The company has already pared investments in once red-hot businesses like community grocery buying, some of the people said.
Some units like Didi Finance, which is expanding outside China, and its autonomous driving business will be less impacted.
US$4.7 billion loss after revenues shrank in the September quarter.
The market has priced in a possible penalty of 10 billion yuan ($2.12 billion).
by winston » Sat Mar 12, 2022 8:05 am
The ride-hailing giant has since explored several alternatives including hiving off data to a third-party Chinese firm and selling a stake to state-backed companies, Bloomberg News has reported.
Didi revealed a US$4.7 billion loss after revenues shrank in the September quarter following Beijing’s regulatory assault against the tech sector.
by winston » Wed Mar 16, 2022 9:06 pm
1. The suspension of its apps in China
2. A costly overseas expansion
3. Being forced to take more losses in Russia
4. New regulations for ride-hailing services
5. Even more macro headwinds
6. Its imminent delisting from the NYSE
7. An uncertain future in Hong Kong
by winston » Mon Apr 18, 2022 8:34 am
DIDI Global will hold an extraordinary general meeting on May 23 to vote on delisting its shares from the New York Stock Exchange.
Bloomberg reported in March that DiDi suspended work on a Hong Kong float slated for around this summer because the Cyberspace Administration of China had told executives their proposals on ways to prevent data leaks had fallen short.
by winston » Tue Apr 19, 2022 5:52 pm
Cao Cao Mobility, backed by carmaker Geely, saw its orders jump 26.4 per cent.
Since its US$4.4 billion IPO, Didi’s order volume plummeted by 29 per cent through March.
Orders at T3, which is backed by state-owned companies, more than doubled.
Didi had 80.7 million monthly active users (MAUs) by the end of 2021, a 20 per cent year-on-year decline. Cao Cao and T3 had just 6.6 million and 11.5 million MAUs, respectively.
The company’s net losses widened to 49.3 billion yuan (US$7.7 billion) last year, three times its losses in 2020.
The firm reported total revenue of 40.8 billion yuan (US$6.4 billion) for the fourth quarter of 2021, a decline of 12.6 per cent compared with the same period a year prior.
by winston » Tue Apr 19, 2022 8:39 pm
Didi in December disclosed a $4.7 billion loss in the September quarter after revenue slid 13% from the previous three months.
The municipal government of Beijing, where Didi is based, was said to have proposed that the Shouqi Group -- part of the influential Beijing Tourism Group -- and others acquire a stake in Didi, which would give control to state-run firms.
by winston » Tue Apr 19, 2022 8:52 pm
Didi said its board authorized the company "to pursue a listing of its class A ordinary shares on the Main Board of the Hong Kong Stock Exchange."
by winston » Fri Apr 22, 2022 11:47 am
Once delisted, the stock will then be traded as a pink-sheet for an indefinite period of time.
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