DiDi Global Announces Unaudited Quarterly Financial Results
DiDi Global Inc. (NYSE: DIDI) reported its unaudited condensed financial results for Q4 2021, showing total revenues of RMB 40.8 billion (US$ 6.4 billion), a decrease from RMB 46.7 billion in Q4 2020. The Company recorded a net loss of RMB 383 million (US$ 60 million) attributable to ordinary shareholders. Adjusted EBITA (Non-GAAP) registered a loss of RMB 3.9 billion (US$ 0.6 billion). The China Mobility segment contributed RMB 37.5 billion (US$ 5.9 billion) to revenues. Core Platform Gross Transaction Value reached RMB 67.2 billion (US$ 10.5 billion) during the quarter.
- Core Platform Gross Transaction Value reached RMB 67.2 billion (US$ 10.5 billion).
- Transaction count for the China Mobility segment was 2,307 million.
- Total revenues decreased from RMB 46.7 billion in Q4 2020 to RMB 40.8 billion in Q4 2021.
- Net loss attributable to ordinary shareholders was RMB 383 million (US$ 60 million).
- Adjusted EBITA (Non-GAAP) showed a loss of RMB 3.9 billion (US$ 0.6 billion).
| Unaudited condensed consolidated balance sheets | |||||||||
| (Amounts in millions, except for per share data and otherwise noted) | |||||||||
As of |
|||||||||
|
|
|
|||||||
2020 |
|
2021 |
|
2021 |
|||||
RMB (1) |
|
RMB |
|
US$ (2) |
|||||
| ASSETS | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | 19,372 |
|
43,430 |
|
6,815 |
|
|||
| Restricted cash | 2,238 |
|
444 |
|
70 |
|
|||
| Short-term investments | 37,689 |
|
13,344 |
|
2,094 |
|
|||
| Accounts and notes receivable, net of allowance for credit losses of |
2,438 |
|
2,831 |
|
444 |
|
|||
| Loan receivable, net of allowance for credit losses of |
2,878 |
|
4,644 |
|
729 |
|
|||
| Amounts due from related parties | 103 |
|
115 |
|
18 |
|
|||
| Prepayments, receivables and other current assets, net | 3,913 |
|
3,958 |
|
621 |
|
|||
| Total current assets | 68,631 |
|
68,766 |
|
10,791 |
|
|||
| Non-current assets: | |||||||||
| Investment securities and other investments | 4,261 |
|
18,634 |
|
2,924 |
|
|||
| Long-term investments, net | 7,105 |
|
4,615 |
|
724 |
|
|||
| Operating lease right-of-use assets | 1,931 |
|
1,288 |
|
202 |
|
|||
| Property and equipment, net | 9,759 |
|
8,000 |
|
1,255 |
|
|||
| Intangible assets, net | 5,357 |
|
3,286 |
|
516 |
|
|||
49,124 |
|
46,378 |
|
7,278 |
|
||||
| Non-current restricted cash | 21 |
|
107 |
|
17 |
|
|||
| Deferred tax assets, net | 191 |
|
224 |
|
35 |
|
|||
| Other non-current assets, net | 885 |
|
1,700 |
|
267 |
|
|||
| Total non-current assets | 78,634 |
|
84,232 |
|
13,218 |
|
|||
| Total assets | 147,265 |
|
152,998 |
|
24,009 |
|
|||
| LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY (DEFICIT) | |||||||||
| Current liabilities: | |||||||||
| Short-term borrowings | 5,827 |
|
6,838 |
|
1,073 |
|
|||
| Accounts and notes payable | 7,353 |
|
4,625 |
|
726 |
|
|||
| Deferred revenue and customer advances | 915 |
|
546 |
|
86 |
|
|||
| Operating lease liabilities, current portion | 679 |
|
517 |
|
81 |
|
|||
| Amounts due to related parties | 282 |
|
249 |
|
39 |
|
|||
| Accrued expenses and other current liabilities | 11,304 |
|
11,648 |
|
1,828 |
|
|||
| Total current liabilities | 26,360 |
|
24,423 |
|
3,833 |
|
|||
| Non-current liabilities: | |||||||||
| Long-term borrowings | 1,453 |
|
1,681 |
|
264 |
|
|||
| Operating lease liabilities, non-current portion | 1,172 |
|
655 |
|
103 |
|
|||
| Deferred tax liabilities | 844 |
|
486 |
|
76 |
|
|||
| Other non-current liabilities | 286 |
|
306 |
|
47 |
|
|||
| Total non-current liabilities | 3,755 |
|
3,128 |
|
490 |
|
|||
| Total liabilities | 30,115 |
|
27,551 |
|
4,323 |
|
|||
| Commitments and contingencies | |||||||||
| Mezzanine equity | |||||||||
| Convertible preferred shares (3) | 189,839 |
|
- |
|
- |
|
|||
| Convertible redeemable non-controlling interests | 3,345 |
|
12,258 |
|
1,924 |
|
|||
| Convertible non-controlling interests | 100 |
|
1,069 |
|
167 |
|
|||
| Total Mezzanine Equity | 193,284 |
|
13,327 |
|
2,091 |
|
|||
| SHAREHOLDERS’ EQUITY (DEFICIT): | |||||||||
| Ordinary shares ( |
- |
|
- |
|
- |
|
|||
- |
|
- |
|
- |
|
||||
| Additional paid-in capital | 12,178 |
|
251,385 |
|
39,448 |
|
|||
| Statutory reserves | 17 |
|
28 |
|
4 |
|
|||
| Accumulated other comprehensive loss | (2,002 |
) |
(3,601 |
) |
(565 |
) |
|||
| Accumulated deficit | (86,411 |
) |
(135,765 |
) |
(21,304 |
) |
|||
(76,218 |
) |
112,047 |
|
17,583 |
|
||||
| Non-controlling interests | 84 |
|
73 |
|
12 |
|
|||
| Total shareholders’ equity (deficit) | (76,134 |
) |
112,120 |
|
17,595 |
|
|||
| Total liabilities, mezzanine equity and shareholders’ equity (deficit) | 147,265 |
|
152,998 |
|
24,009 |
|
|||
| (1) Certain prior year amounts in the Company’s condensed consolidated balance sheets have been adjusted to conform with the current year presentation to facilitate comparison. These adjustments have not changed the results of operations, financial position or cash flows of prior periods. |
| (2) This results announcement contains translations of certain Renminbi (“RMB”) amounts into |
| (3) The convertible preferred shares were converted to ordinary shares immediately prior to the closing of the Company’s initial public offering in early July, 2021. |
| Unaudited condensed consolidated statements of comprehensive loss | ||||||||||||||||||
| (Amounts in millions, except for per share data and otherwise noted) | ||||||||||||||||||
For the Three Months Ended |
|
For the Year Ended |
||||||||||||||||
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
2021 |
||||||||
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
||||||||
| Revenues | ||||||||||||||||||
| China Mobility | 44,156 |
|
37,473 |
|
5,880 |
|
133,645 |
|
160,521 |
|
25,189 |
|
||||||
| International | 691 |
|
1,045 |
|
164 |
|
2,333 |
|
3,622 |
|
568 |
|
||||||
| Other Initiatives | 1,852 |
|
2,259 |
|
355 |
|
5,758 |
|
9,684 |
|
1,520 |
|
||||||
| Total revenues | 46,699 |
|
40,777 |
|
6,399 |
|
141,736 |
|
173,827 |
|
27,277 |
|
||||||
| Costs and expenses | ||||||||||||||||||
| Cost of revenues | (44,520 |
) |
(35,921 |
) |
(5,637 |
) |
(125,824 |
) |
(156,863 |
) |
(24,615 |
) |
||||||
| Operations and support | (1,654 |
) |
(1,708 |
) |
(268 |
) |
(4,696 |
) |
(7,525 |
) |
(1,181 |
) |
||||||
| Sales and marketing | (5,215 |
) |
(3,509 |
) |
(551 |
) |
(11,136 |
) |
(16,961 |
) |
(2,662 |
) |
||||||
| Research and development | (1,836 |
) |
(2,466 |
) |
(387 |
) |
(6,317 |
) |
(9,415 |
) |
(1,477 |
) |
||||||
| General and administrative | (2,038 |
) |
(2,514 |
) |
(394 |
) |
(7,551 |
) |
(28,716 |
) |
(4,506 |
) |
||||||
| Impairment of goodwill and intangible assets (1) | - |
|
(2,789 |
) |
(438 |
) |
- |
|
(2,789 |
) |
(438 |
) |
||||||
| Total costs and expenses | (55,263 |
) |
(48,907 |
) |
(7,675 |
) |
(155,524 |
) |
(222,269 |
) |
(34,879 |
) |
||||||
| Loss from operations (2) | (8,564 |
) |
(8,130 |
) |
(1,276 |
) |
(13,788 |
) |
(48,442 |
) |
(7,602 |
) |
||||||
| Interest income | 285 |
|
240 |
|
38 |
|
1,229 |
|
819 |
|
129 |
|
||||||
| Interest expenses | (51 |
) |
(66 |
) |
(10 |
) |
(136 |
) |
(278 |
) |
(44 |
) |
||||||
| Investment income (loss), net (3) | 1,904 |
|
8,344 |
|
1,309 |
|
2,833 |
|
(167 |
) |
(26 |
) |
||||||
| Impairment loss for equity investments accounted for using Measurement Alternative | (1,022 |
) |
- |
|
- |
|
(1,022 |
) |
- |
|
- |
|
||||||
| Loss from equity method investments, net | (550 |
) |
(416 |
) |
(65 |
) |
(1,058 |
) |
(476 |
) |
(75 |
) |
||||||
| Other income (loss), net | 730 |
|
(83 |
) |
(13 |
) |
1,031 |
|
(624 |
) |
(98 |
) |
||||||
| Loss before income taxes | (7,268 |
) |
(111 |
) |
(17 |
) |
(10,911 |
) |
(49,168 |
) |
(7,716 |
) |
||||||
| Income tax benefits (expenses) | 37 |
|
(60 |
) |
(10 |
) |
303 |
|
(166 |
) |
(26 |
) |
||||||
| Net loss | (7,231 |
) |
(171 |
) |
(27 |
) |
(10,608 |
) |
(49,334 |
) |
(7,742 |
) |
||||||
| Less: Net income (loss) attributable to non-controlling interest shareholders | (70 |
) |
5 |
|
1 |
|
(94 |
) |
9 |
|
1 |
|
||||||
| Net loss attributable to |
(7,161 |
) |
(176 |
) |
(28 |
) |
(10,514 |
) |
(49,343 |
) |
(7,743 |
) |
||||||
| Accretion of convertible redeemable non-controlling interests to redemption value | (60 |
) |
(207 |
) |
(32 |
) |
(165 |
) |
(688 |
) |
(108 |
) |
||||||
| Deemed dividends to preferred shareholders upon repurchases of convertible preferred shares | - |
|
- |
|
- |
|
(1 |
) |
- |
|
- |
|
||||||
| Net loss attributable to ordinary shareholders of |
(7,221 |
) |
(383 |
) |
(60 |
) |
(10,680 |
) |
(50,031 |
) |
(7,851 |
) |
||||||
| Net loss | (7,231 |
) |
(171 |
) |
(27 |
) |
(10,608 |
) |
(49,334 |
) |
(7,742 |
) |
||||||
| Other comprehensive loss: | ||||||||||||||||||
| Foreign currency translation adjustments, net of tax of nil | (2,797 |
) |
(1,153 |
) |
(181 |
) |
(5,927 |
) |
(1,594 |
) |
(250 |
) |
||||||
| Share of other comprehensive loss of equity method investees | 1 |
|
- |
|
- |
|
- |
|
(5 |
) |
(1 |
) |
||||||
| Total other comprehensive loss | (2,796 |
) |
(1,153 |
) |
(181 |
) |
(5,927 |
) |
(1,599 |
) |
(251 |
) |
||||||
| Total comprehensive loss | (10,027 |
) |
(1,324 |
) |
(208 |
) |
(16,535 |
) |
(50,933 |
) |
(7,993 |
) |
||||||
| Less: comprehensive income (loss) attributable to non-controlling interest shareholders | (70 |
) |
5 |
|
1 |
|
(94 |
) |
9 |
|
1 |
|
||||||
| Comprehensive loss attributable to |
(9,957 |
) |
(1,329 |
) |
(209 |
) |
(16,441 |
) |
(50,942 |
) |
(7,994 |
) |
||||||
| Accretion of convertible redeemable non-controlling interests to redemption value | (60 |
) |
(207 |
) |
(32 |
) |
(165 |
) |
(688 |
) |
(108 |
) |
||||||
| Deemed dividends to preferred shareholders upon repurchases of convertible preferred shares | - |
|
- |
|
- |
|
(1 |
) |
- |
|
- |
|
||||||
| Comprehensive loss attributable to ordinary shareholders of |
(10,017 |
) |
(1,536 |
) |
(241 |
) |
(16,607 |
) |
(51,630 |
) |
(8,102 |
) |
||||||
| Weighted average number of ordinary shares used in computing net loss per share | ||||||||||||||||||
| —Basic | 108,328,905 |
|
1,204,089,980 |
|
1,204,089,980 |
|
106,694,420 |
|
657,996,437 |
|
657,996,437 |
|
||||||
| —Diluted | 108,328,905 |
|
1,204,089,980 |
|
1,204,089,980 |
|
106,694,420 |
|
657,996,437 |
|
657,996,437 |
|
||||||
| Net loss per share attributable to ordinary shareholders | ||||||||||||||||||
| —Basic | (66.66 |
) |
(0.32 |
) |
(0.05 |
) |
(100.10 |
) |
(76.04 |
) |
(11.93 |
) |
||||||
| —Diluted | (66.66 |
) |
(0.32 |
) |
(0.05 |
) |
(100.10 |
) |
(76.04 |
) |
(11.93 |
) |
||||||
| Weighted average number of ADSs used in computing net loss per ADS | ||||||||||||||||||
| —Basic | 433,315,620 |
|
4,816,359,920 |
|
4,816,359,920 |
|
426,777,680 |
|
2,631,985,748 |
|
2,631,985,748 |
|
||||||
| —Diluted | 433,315,620 |
|
4,816,359,920 |
|
4,816,359,920 |
|
426,777,680 |
|
2,631,985,748 |
|
2,631,985,748 |
|
||||||
| Net loss per ADS attributable to ordinary shareholders | ||||||||||||||||||
| —Basic | (16.66 |
) |
(0.08 |
) |
(0.01 |
) |
(25.03 |
) |
(19.01 |
) |
(2.98 |
) |
||||||
| —Diluted | (16.66 |
) |
(0.08 |
) |
(0.01 |
) |
(25.03 |
) |
(19.01 |
) |
(2.98 |
) |
||||||
| (1) Impairment of goodwill and intangible assets of |
| (2) Includes share-based compensation expenses as follows: |
For the Three Months Ended |
|
For the Year Ended |
||||||||||||||||
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
2021 |
||||||||
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
||||||||
| Operations and support | 21 |
|
37 |
|
6 |
|
80 |
|
194 |
|
30 |
|
||||||
| Sales and marketing | 55 |
|
86 |
|
13 |
|
210 |
|
326 |
|
51 |
|
||||||
| Research and development | 166 |
|
381 |
|
60 |
|
778 |
|
2,259 |
|
355 |
|
||||||
| General and administrative | 387 |
|
509 |
|
80 |
|
2,345 |
|
21,876 |
|
3,433 |
|
||||||
| (3) Investment income, net for the three months ended |
| Unaudited condensed consolidated statements of cash flows | ||||||||||||||||||
| (Amounts in millions) | ||||||||||||||||||
For the Three Months Ended |
|
For the Year Ended |
||||||||||||||||
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
2021 |
||||||||
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
||||||||
| Net cash provided by (used in) operating activities | (558 |
) |
(1,032 |
) |
(162 |
) |
1,138 |
|
(13,414 |
) |
(2,105 |
) |
||||||
| Net cash provided by (used in) investing activities | 3,321 |
|
(2,511 |
) |
(394 |
) |
(1,946 |
) |
1,145 |
|
180 |
|
||||||
| Net cash provided by (used in) financing activities | 2,621 |
|
(1,079 |
) |
(169 |
) |
9,274 |
|
35,191 |
|
5,522 |
|
||||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (256 |
) |
(717 |
) |
(113 |
) |
(515 |
) |
(572 |
) |
(90 |
) |
||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 5,128 |
|
(5,339 |
) |
(838 |
) |
7,951 |
|
22,350 |
|
3,507 |
|
||||||
| Cash, cash equivalents and restricted cash at the beginning of the period | 16,503 |
|
49,320 |
|
7,740 |
|
13,680 |
|
21,631 |
|
3,395 |
|
||||||
| Cash, cash equivalents and restricted cash at the end of the period | 21,631 |
|
43,981 |
|
6,902 |
|
21,631 |
|
43,981 |
|
6,902 |
|
||||||
| Selected financial information of segments | ||||||||||||||||||
| The following table presents the total revenue and adjusted EBITA (non-GAAP) and total consolidated loss from operations by segment for the periods presented: | ||||||||||||||||||
For the Three Months Ended |
|
For the Year Ended |
||||||||||||||||
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
2021 |
||||||||
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
||||||||
| Revenues: | ||||||||||||||||||
| China Mobility | 44,156 |
|
37,473 |
|
5,880 |
|
133,645 |
|
160,521 |
|
25,189 |
|
||||||
| International | 691 |
|
1,045 |
|
164 |
|
2,333 |
|
3,622 |
|
568 |
|
||||||
| Other Initiatives | 1,852 |
|
2,259 |
|
355 |
|
5,758 |
|
9,684 |
|
1,520 |
|
||||||
| Total segment revenues | 46,699 |
|
40,777 |
|
6,399 |
|
141,736 |
|
173,827 |
|
27,277 |
|
||||||
| Adjusted EBITA: | ||||||||||||||||||
| China Mobility | (509 |
) |
854 |
|
134 |
|
3,960 |
|
6,129 |
|
962 |
|
||||||
| International | (1,510 |
) |
(1,803 |
) |
(283 |
) |
(3,534 |
) |
(5,788 |
) |
(908 |
) |
||||||
| Other Initiatives | (5,421 |
) |
(2,957 |
) |
(464 |
) |
(8,807 |
) |
(19,514 |
) |
(3,063 |
) |
||||||
| Total Adjusted EBITA (non-GAAP) | (7,440 |
) |
(3,906 |
) |
(613 |
) |
(8,381 |
) |
(19,173 |
) |
(3,009 |
) |
||||||
| Share-based compensation | (629 |
) |
(1,013 |
) |
(159 |
) |
(3,413 |
) |
(24,655 |
) |
(3,869 |
) |
||||||
| Amortization of intangible assets | (495 |
) |
(422 |
) |
(66 |
) |
(1,994 |
) |
(1,825 |
) |
(286 |
) |
||||||
| Impairment of goodwill and intangible assets | - |
|
(2,789 |
) |
(438 |
) |
- |
|
(2,789 |
) |
(438 |
) |
||||||
| Total consolidated loss from operations | (8,564 |
) |
(8,130 |
) |
(1,276 |
) |
(13,788 |
) |
(48,442 |
) |
(7,602 |
) |
||||||
| The following table presents the total depreciation expenses of property and equipment by segment for the periods presented: | ||||||||||||||||||
For the Three Months Ended |
|
For the Year Ended |
||||||||||||||||
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
2021 |
||||||||
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
||||||||
| China Mobility | 65 |
|
84 |
|
13 |
|
260 |
|
306 |
|
48 |
|
||||||
| International | 20 |
|
43 |
|
7 |
|
63 |
|
125 |
|
20 |
|
||||||
| Other Initiatives | 982 |
|
750 |
|
118 |
|
2,952 |
|
3,790 |
|
594 |
|
||||||
| Total depreciation expenses of property and equipment | 1,067 |
|
877 |
|
138 |
|
3,275 |
|
4,221 |
|
662 |
|
||||||
| Unaudited reconciliation of GAAP and Non-GAAP results | ||||||||||||||||||
| (Amounts in millions) | ||||||||||||||||||
For the Three Months Ended |
|
For the Year Ended |
||||||||||||||||
2020 |
|
2021 |
|
2021 |
|
2020 |
|
2021 |
|
2021 |
||||||||
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
||||||||
| Net loss | (7,231 |
) |
(171 |
) |
(27 |
) |
(10,608 |
) |
(49,334 |
) |
(7,742 |
) |
||||||
| Less: Interest income | (285 |
) |
(240 |
) |
(38 |
) |
(1,229 |
) |
(819 |
) |
(129 |
) |
||||||
| Add: Interest expenses | 51 |
|
66 |
|
10 |
|
136 |
|
278 |
|
44 |
|
||||||
| Less: investment income (loss), net | (1,904 |
) |
(8,344 |
) |
(1,309 |
) |
(2,833 |
) |
167 |
|
26 |
|
||||||
| Add: Impairment loss for equity investments accounted for using Measurement Alternative | 1,022 |
|
- |
|
- |
|
1,022 |
|
- |
|
- |
|
||||||
| Add: Loss from equity method investments, net | 550 |
|
416 |
|
65 |
|
1,058 |
|
476 |
|
75 |
|
||||||
| Less: Other income (loss), net | (730 |
) |
83 |
|
13 |
|
(1,031 |
) |
624 |
|
98 |
|
||||||
| Less: Income tax benefits (expenses) | (37 |
) |
60 |
|
10 |
|
(303 |
) |
166 |
|
26 |
|
||||||
| Loss from operations | (8,564 |
) |
(8,130 |
) |
(1,276 |
) |
(13,788 |
) |
(48,442 |
) |
(7,602 |
) |
||||||
| Add: Share-based compensation expenses | 629 |
|
1,013 |
|
159 |
|
3,413 |
|
24,655 |
|
3,869 |
|
||||||
| Add: Amortization of intangible assets | 495 |
|
422 |
|
66 |
|
1,994 |
|
1,825 |
|
286 |
|
||||||
| Add: Impairment of goodwill and intangible assets | - |
|
2,789 |
|
438 |
|
- |
|
2,789 |
|
438 |
|
||||||
| Adjusted EBITA (non-GAAP) | (7,440 |
) |
(3,906 |
) |
(613 |
) |
(8,381 |
) |
(19,173 |
) |
(3,009 |
) |
||||||
Fourth Quarter 2021 Financial and Operational Metrics
-
Total revenues for the fourth quarter of 2021 were
RMB40.8 billion (US ). Total revenues from the China Mobility segment for the fourth quarter of 2021 were$6.4 billion RMB37.5 billion (US ). Total revenues from the International segment for the fourth quarter of 2021 were$5.9 billion RMB1.0 billion (US ). Total revenues from the Other Initiatives segment for the fourth quarter of 2021 were$0.2 billion RMB2.3 billion (US ).$0.3 billion -
Net loss attributable to ordinary shareholders for the fourth quarter of 2021 was
RMB383 million (US ).$60 million -
Adjusted EBITA (Non-GAAP)1 for the fourth quarter of 2021 was a loss of
RMB3.9 billion (US ).$0.6 billion - Core Platform Transactions for the fourth quarter of 2021 were 2,791 million. Transactions of China Mobility segment for the fourth quarter of 2021 were 2,307 million. Transactions from the International segment for the fourth quarter of 2021 were 484 million.
-
Core Platform Gross Transaction Value (“GTV”)2 for the fourth quarter of 2021 reached
RMB67.2 billion (US ). GTV from the China Mobility segment for the fourth quarter of 2021 reached$10.5 billion RMB56.2 billion (US ). GTV from the International segment for the fourth quarter of 2021 reached$8.8 billion RMB11.0 billion (US ).$1.7 billion -
Platform Sales3 from China Mobility and International segments for the fourth quarter of 2021 were
RMB9.9 billion (US ). Platform Sales from the China Mobility segment for the fourth quarter of 2021 reached$1.6 billion RMB8.9 billion (US ). Platform Sales from the International segment for the fourth quarter of 2021 reached$1.4 billion RMB1.0 billion (US ).$0.2 billion
About
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 Measurement Alternative, (v) loss from equity method investments, net, (vi) other income (loss), net, (vii) income tax benefits (expenses), (viii) share-based compensation expense, (ix) amortization of intangible assets and (x) impairment of goodwill and intangible assets.
This non-GAAP financial measure is not defined under
For more information on the non-GAAP financial measure, please see the tables captioned “Unaudited Reconciliation of GAAP and Non-GAAP Results” set forth in this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into
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
____________________________
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 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, (ix) amortization of intangible assets and (x) impairment of goodwill and 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/20220413005562/en/
For investor inquiries:
Email: ir@didiglobal.com
For media inquiries:
Global Communications Team
Email: globalpr@didiglobal.com
Source:
FAQ
What are the financial results of DiDi for Q4 2021?
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