Didi's revenue in the fourth quarter of 2021 fell by 12.68% compared with the same period last year, and the total revenue for the whole year still increased by 22.6%.
On April 16, Didi announced the company's unaudited fourth quarter results for the year ended December 31, 2021. According to the financial report, as of the end of last year, Didi achieved revenue of 40.777 billion yuan in the fourth quarter, a decrease of 5.922 billion yuan from the same period last year. The company's fourth-quarter net loss was $171 million, a sharp narrowing of nearly 99.4% from the third quarter.
At the same time as the financial report was released, Didi announced that Tencent's president, who served as a director of the company, Martin Lau resigned.
Revenue increased by 22.6% in 2021, with a net loss of 49.3 billion yuan for the full year
According to the fourth quarter performance report disclosed by Didi on the evening of April 16, in 2021, Didi achieved operating income of 173.827 billion yuan, an increase of 22.68% over 141.736 billion yuan in 2020.
In terms of net profit, the company's annual loss widened from the previous year to 49.334 billion yuan. However, in terms of the loss in the fourth quarter, it has narrowed significantly, and the net loss of Didi in the fourth quarter was only 171 million yuan, which was narrowed by nearly 99.4% compared with the loss in the third quarter, and the net loss of 7.231 billion yuan in the same period last year was also significantly reduced.
Last year, Didi's loss margin widened mainly due to investment, mainly due to the fair value change of Orange Heart Investment, Didi recognized a net investment loss of 20.8 billion yuan in the third quarter, which also led to the expansion of its net loss margin.
In fact, Didi's core mobility business remains relatively stable.
Didi's current revenue consists of three parts, China's travel business (China's online ride-hailing, taxi, substitute driving and ride-hailing businesses), international business (international travel and takeaway businesses), and other businesses (shared bicycles and motorcycles, car services, freight, autonomous driving and financial services businesses).
From the perspective of revenue composition, domestic mobile business revenue still accounts for the vast majority, with 160.521 billion yuan in 2021 accounting for 92% of total revenue, an increase of 20% over the same period last year. It is worth mentioning that last year, Didi's international business and other business revenue grew rapidly, up 55.25% and 68.18% year-on-year, respectively.
In the fourth quarter of 2021, the core platform transaction volume reached 2.791 billion, of which the domestic travel sector transaction volume reached 2.307 billion, the international transaction volume was 484 million, and the domestic transaction volume decreased slightly by 2.1% month-on-month.
Combing through the company's annual domestic travel sector transaction volume, in 2021, the company's domestic travel business volume was about 9.483 billion (the average daily transaction in the first quarter was 25 million, the second and third quarters were 2.57 billion and 2.356 billion, respectively), and the average annual daily turnover was about 26 million. In the fourth quarter, Didi's core platform transaction volume (GTV) reached 67.2 billion yuan, of which China's travel business GTV reached 56.2 billion yuan and the international market GTV reached 11 billion yuan.
Tencent President Martin Lau resigned as a director of Didi
At the same time as releasing the fourth quarter of 2021 financial report, Didi also announced the change of its board members. According to the announcement, Tencent President Martin Lau has now resigned as a director of the company's board of directors, and Fengxia Liang has now been appointed as a new director.
According to the announcement, Liang Fengxia is now the deputy general counsel of Tencent, and she joined Tencent in March 2008. Prior to joining Tencent, she was Senior Counsel at Deloitte. Prior to that, she practiced at an Asian law firm that specialized in M&A and commercial transactions. Liang also previously received a Master of Laws degree from the University of London and a Bachelor of Laws degree from Fudan University.
In December last year, Alibaba Chairman and CEO Daniel Zhang resigned as a director of Didi's board of directors, while Zhang Yi, Alibaba's senior legal director and general counsel of Alibaba's local life services company, was appointed as a director of Didi's board of directors.
On April 14, Didi's latest close was $2.46 per share, down 3.15% on the day, and its current total market value is $11.63 billion, or about 74.09 billion yuan.
（CIS）
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