(Yicai) March 19 — The gross transaction value of Chinese ride-hailing giant Didi Global’s international business in the fourth quarter of last year grew over 30 percent for the fourth quarter in a row thanks to continuous investment and efficient operation in key overseas markets.
Didi’s international business GTV soared 32 percent on a constant currency basis to CNY24.9 billion (USD3.4 billion) in the fourth quarter of last year from a year earlier, the Beijing-based company said in its latest earnings report released yesterday. For the full year, the figure climbed 35 percent to CNY91.3 billion.
Core platform transactions surged 15 percent to over 4.26 million in the fourth quarter of last year from a year earlier, buoyed by a 30 percent increase to nearly 1.02 million orders from the international market. The figure jumped 19 percent to 16 million orders in 2024 from the previous year, as international orders leaped 36 percent to 3.61 million.
The GTV of Didi’s China business rose 9.3 percent to CNY78.4 billion in the three months ended Dec. 31 from a year earlier. It increased 11 percent to CNY301.4 billion last year from 2023. Related core platform transactions soared 11 percent and 15 percent to 3.25 million and 12.39 million, respectively, in the two periods.
Didi reported a net loss of CNY1.3 billion (USD179.7 million) in the fourth quarter, with revenue rising 7.1 percent to CNY49.4 billion from a year earlier. For the year 2024, the firm had a net profit of CNY1.3 billion and revenue of CNY206.8 billion.
“In light of the rebound in the domestic Chinese economy, as well as the continued improvement of our product competitiveness and operational efficiency, our business grew steadily in the fourth quarter,” said Will Wei, chairman and chief executive officer of Didi.
“As we enter 2025, we will continue to deepen our focus on our core businesses while adhering to the principle of responsible innovation, promoting the development of autonomous driving and artificial intelligence applications, and providing even better services for our users, drivers, and ecosystem partners,” Wei noted.
Editor: Futura Costaglione
