Didi Chuxing's fourth-quarter net loss of 383 million yuan narrowed 94.7% year-on-year

Tencent Technology News On April 16, Didi Chuxing released the company's unaudited financial results for the fourth quarter and full year ended December 31, 2021. According to the financial report, Didi Chuxing's total revenue in the fourth quarter was 40.78 billion yuan (about $6.40 billion), down 12.7% year-on-year; the net loss attributable to Didi Chuxing's shareholders was 383 million yuan (about $60 million), narrowing 94.7% from the net loss attributable to Didi Chuxing's shareholders of 7.22 billion yuan in the same period last year.

Key Financial and Operating Data for the Fourth Quarter:

-- Didi Chuxing's total revenue for the fourth quarter was RMB40.78 billion (US$6.40 billion), down 12.7% year-on-year. Revenue from China's travel business was 37.47 billion yuan (US$5.88 billion), down 15.1% year-on-year; international revenue was 1.05 billion yuan (US$160 million), up 51.2% year-on-year; and Other initiatives revenue was 2.26 billion yuan (US$360 million), up 22.2% year-on-year.

-- Didi Chuxing's core platform transactions in the fourth quarter and fourth quarter were 2.791 billion transactions. Among them, the transaction volume of China's travel business in the fourth quarter was 2.307 billion, and the transaction volume of international business was 484 million.

-- Didi Chuxing's core platform had a total transaction value of 67.2 billion yuan (US$10.5 billion) in the fourth quarter. Among them, the total transaction value of the core platform of the China travel business in the fourth quarter was 56.2 billion yuan (about US$8.8 billion), and the total transaction value of the core platform of the international business was 11 billion yuan (about US$1.7 billion).

-Didi Chuxing's platform sales from china's mobility and international operations were RMB9.9 billion (US$1.6 billion) in the fourth quarter. Among them, platform sales from china's mobility business were 8.9 billion yuan (about US$1.4 billion), and platform sales from international business were 1 billion yuan (about US$200 million).

-- Didi Chuxing's fourth-quarter operating loss was 8.13 billion yuan (US$1.28 billion), compared with an operating loss of 8.56 billion yuan in the same period last year.

-- Didi Chuxing's fourth-quarter net loss was 170 million yuan (us$27 million), compared with a net loss of 7.23 billion yuan in the same period last year.

-- Net loss attributable to Shareholders of Didi Chuxing was RMB383 million (US$60 million) in the fourth quarter, compared to a net loss attributable to common shareholders of RMB7.221 billion in the year-ago quarter.

-- Diluted loss per ADS attributable to Didi Chuxing shareholders was RMB0.08 (US$0.01) in the fourth quarter, compared to a diluted loss per ADS attributable to common shareholders of RMB16.66 in the year-ago quarter.

- As of December 31, 2021, Didi Chuxing's total cash, cash equivalents and restricted cash held on its books were 43.98 billion yuan (approximately US$6.90 billion), compared with 21.63 billion yuan as of December 31, 2020 and 49.32 billion yuan as of September 30, 2021.

Key financial figures for 2021:

-- Didi Chuxing's total revenue in 2021 was 173.83 billion yuan (about 27.28 billion US dollars), an increase of 22.6% year-on-year. Revenue from China's travel business was 160.52 billion yuan (US$25.19 billion), up 20.1% year-on-year; international revenue was 3.62 billion yuan (US$570 million), up 55.4% year-on-year; and other initiatives revenue was 9.68 billion yuan (US$1.52 billion), up 68.1% year-on-year.

-- Didi Chuxing's operating loss in 2021 was 48.44 billion yuan (US$7.60 billion), compared with an operating loss of 13.79 billion yuan in the same period last year.

-- Didi Chuxing's net loss for 2021 was 49.33 billion yuan (US$7.74 billion), compared to a net loss of 10.61 billion yuan in the same period last year.

-- Net loss attributable to shareholders of Didi Chuxing in 2021 was RMB50.03 billion (US$7.85 billion), compared to a net loss attributable to common shareholders of RMB10.68 billion in the same period last year.

- Diluted loss per ADS attributable to Didi Chuxing shareholders was RMB19.01 (US$2.98) in 2021, compared to a diluted loss per ADS attributable to common shareholders of RMB25.03 in the year-ago quarter.

Fourth Quarter Results Analysis:

Didi Chuxing's total revenue for the fourth quarter was 40.78 billion yuan (US$6.40 billion), down 12.7% from 46.70 billion yuan in the same period last year. Revenue from China's mobility business was 37.47 billion yuan (US$5.88 billion), down 15.1% from 44.16 billion yuan in the same period last year; international business revenue was 1.05 billion yuan (us$160 million), up 51.2% from 690 million yuan in the same period last year; and other initiatives revenue was 2.26 billion yuan (ABOUT US$360 million), up 22.2% from 1.85 billion yuan in the same period last year.

Didi Chuxing's core platform transactions in the fourth quarter and fourth quarter were 2.791 billion. Among them, the transaction volume of China's travel business in the fourth quarter was 2.307 billion, and the transaction volume of international business was 484 million.

Didi Chuxing's core platform had a total transaction value of 67.2 billion yuan (US$10.5 billion) in the fourth quarter. Among them, the total transaction value of the core platform of the China travel business in the fourth quarter was 56.2 billion yuan (about US$8.8 billion), and the total transaction value of the core platform of the international business was 11 billion yuan (about US$1.7 billion).

Didi Chuxing's platform sales from its China mobility and international operations were 9.9 billion yuan (US$1.6 billion) in the fourth quarter. Among them, platform sales from china's mobility business were 8.9 billion yuan (about US$1.4 billion), and platform sales from international business were 1 billion yuan (about US$200 million).

Didi Chuxing's total costs and expenses for the fourth quarter were 48.91 billion yuan (US$7.68 billion), down 11.5% from 55.26 billion yuan in the same period last year. thereinto Cost of revenue was $35.92 billion (US$5.64 billion), compared to MOP44.52 billion; operating and support expenses were MOP1.71 billion (US$270 million), compared to MOP1.65 billion; sales and marketing expenses were MOP3.51 billion (US$550 million), compared to MOP5.22 billion, R&D expenditure was MOP2.47 billion (US$390 million), compared to RMB1.84 billion in the year-ago quarter; and general and administrative expenses were RMB2.51 billion (US$390 million), compared to RMB2.04 billion in the year-ago quarter Losses in goodwill and intangible assets were $2.79 billion (US$440 million), compared to zero in the year-ago quarter.

Didi Chuxing's fourth-quarter operating loss was 8.13 billion yuan (US$1.28 billion), compared to an operating loss of 8.56 billion yuan in the same period last year.

Didi Chuxing's fourth-quarter net loss was 170 million yuan (about $27 million), compared to a net loss of 7.23 billion yuan in the same period last year.

Net loss attributable to Shareholders of Didi Chuxing in the fourth quarter was RMB383 million (US$60 million), compared to a net loss attributable to common shareholders of RMB7.221 billion in the year-ago quarter.

Diluted loss per ADS attributable to Didi Chuxing shareholders was RMB0.08 (US$0.01) for the fourth quarter, compared to a diluted loss per ADS attributable to common shareholders of RMB16.66 in the year-ago quarter.

As of December 31, 2021, Didi Chuxing's total cash, cash equivalents and restricted cash held on its books were 43.98 billion yuan (approximately US$6.90 billion), compared with 21.63 billion yuan as of December 31, 2020 and 49.32 billion yuan as of September 30, 2021.

2021 Results Analysis:

Didi Chuxing's total revenue in 2021 was 173.83 billion yuan (about 27.28 billion US dollars), an increase of 22.6% from 141.74 billion yuan in the same period last year. Revenue from China's travel business was 160.52 billion yuan (US$25.19 billion), up 20.1% from 133.65 billion yuan in the same period last year; revenue from international business was 3.62 billion yuan (about US$570 million), up 55.4% from 2.33 billion yuan in the same period last year; and other initiatives revenue was 9.68 billion yuan (US$1.52 billion), an increase of 68.1% from 5.76 billion yuan in the same period last year.

Didi Chuxing's total costs and expenses in 2021 were 222.27 billion yuan (about 34.88 billion US dollars), an increase of 42.9% from 155.52 billion yuan in the same period last year. thereinto Cost of revenue was RMB156.86 billion (US$24.62 billion), compared to MOP125.82 billion; operating and support expenses were RMB7.53 billion (US$1.18 billion), compared to RMB4.70 billion in the year-ago quarter; sales and marketing expenses were RMB16.96 billion (US$2.62 billion), compared to RMB11.14 billion in the year-ago quarter; R&D expenditure was RMB9.42 billion (US$1.48 billion), compared to RMB6.32 billion in the year-ago quarter; and general and administrative expenses were RMB28.72 billion (US$4.51 billion), compared to 75% in the year-ago quarter $500 million; goodwill and intangible assets losses were $2.79 billion (US$440 million), compared to zero in the year-ago quarter.

Didi Chuxing's operating loss in 2021 was 48.44 billion yuan (US$7.60 billion), compared with an operating loss of 13.79 billion yuan in the same period last year.

-- Didi Chuxing's net loss for 2021 was 49.33 billion yuan (US$7.74 billion), compared to a net loss of 10.61 billion yuan in the same period last year.

Net loss attributable to shareholders of Didi Chuxing in 2021 was 50.03 billion yuan (US$7.85 billion), compared to a net loss attributable to common shareholders of 10.68 billion yuan in the same period last year.

Diluted loss per ADS attributable to Didi Chuxing shareholders was RMB19.01 (US$2.98) in 2021, compared to a diluted loss per ADS attributable to common shareholders of RMB25.03 in the same period last year. (Compiled by Tencent Technology/No Taboo)