Didi reported the equivalent of $6.7 billion in revenues for the three months ended Sept. 30 at current exchange rates, versus $7.6 billion in the three months ended June 30. Its China mobility business—which includes its core ride-hailing operations—was the main cause of the decline.
Similarly, Who owns Didi Stock?
The move raises Tencent’s total ownership of Didi’s Class A shares to 7.4% as of Dec. 31. Didi’s shares listed in the U.S. closed 8.8% higher Thursday.
What is Didi in China? DiDi Chuxing is a mobile transportation company headquartered in Beijing. Known simply as DiDi, it is now one of the world’s largest ride-hailing companies, serving more than 493 million users across Asia-Pacific, Africa, Latin America, Central Asia, and Russia. DiDi was founded in 2012.
Thereof, Why is JD stock down today?
JD.com, like its peer Alibaba (BABA), has suffered from a regulatory crackdown on the tech sector in China in concert with efforts by President Xi Jinping to tighten control over the world’s second-largest economy. JD.com’s revenue growth in the fourth quarter of 23% was below the 25% gain in third-quarter sales.
Is Didi global profitable?
Revenue for the period ended September was 42.7 billion yuan, down from 43.4 billion yuan in the same period a year earlier, according to Didi’s disclosure on Wednesday. The company had also been profitable in the third quarter last year, with 672 million yuan in net income.
Does Baba own Didi?
2015: merger of Didi Dache and Kuaidi Dache
According to the same study, Kuaidi Dache (快的打车; meaning « Fast Taxi »), backed by Alibaba Group, held most of the remaining market share.
Who underwrote Didi IPO?
Before its IPO, Didi was valued at $62 billion as one of the five largest privately held start-ups in the world, according to CB Insights. Goldman Sachs Asia, Morgan Stanley and J.P. Morgan were among the slew of investment banks that underwrote Didi’s IPO, while SoftBank was a major investor, according to a filing.
Is Didi making money?
– Didi was loss-making from 2018 through 2020 but made a $30 million profit in the first quarter this year.
Is Didi working in China?
HONG KONG/BEIJING, Nov 11 (Reuters) – Didi Global (DIDI. N) is preparing to relaunch its ride-hailing and other apps in China by the end of the year in anticipation that Beijing’s cybersecurity investigation into the company will be wrapped up by then, three people directly involved in the relaunch said.
Why did China shut down Didi?
China’s government ordered the country’s leading ride-hailing platform, Didi, removed from app stores for “serious” problems related to the collection and use of customer data, the latest blow by Beijing to the company, which went public on the New York Stock Exchange just this past week.
Is JD better than Alibaba?
Alibaba has a major advantage over JD due to the rapidly growing cloud business which has an annualized revenue rate of over $12 billion and expanding margins. The recent valuation jump of JD Health and JD Logistics also shows the long-term potential of similar businesses of Alibaba.
Is JD a buy or sell?
Since October 2021, SA authors have rated JD stock as a ‘Buy’ or ‘Strong Buy’. The consensus rating by Wall Street analysts is ‘Strong Buy’, the same for the quant rating for JD.
What Chinese stocks are being delisted?
Earlier this month, the Securities and Exchange Commission announced the first five Chinese companies at risk of delisting if they don’t comply with U.S. auditing rules by 2024: ACM Research (ticker: ACMR), BeiGene (BGNE), Hutchmed (China) (HCM), Yum China Holdings (YUMC), and Zai Lab (ZLAB).
Is Didi getting delisted?
Didi announced on December 2, 2021, that it would delist from the New York Stock Exchange (NYSE) and move to the Hong Kong Stock Exchange (HKEX).
Can Didi be profitable?
If the 14% growth rate of 2019 had continued (i.e., forget 2020), Didi would have reached operating breakeven in 2021. If the growth rate was 10%, it would have happened in 2022. From today’s numbers, Didi will reach operating break-even in early 2023 assuming 15% revenue growth. At 10% growth, it happens in 2024.
Is Didi listed in Hong Kong?
Bloomberg reported that DiDi and its bankers suspended work on its stock listing in Hong Kong after failing to fulfill Chinese regulators’ demands that it overhaul its systems to prevent security and data leaks. The Bloomberg report cited people familiar with the matter.
Is Alibaba bigger than Amazon?
When it comes to sheer size, Amazon is vastly larger than Alibaba. Amazon’s market-cap of $1.5 Trillion dwarfs Alibaba’s $640+ Billion, and when you calculate each firm’s revenue numbers, the disparity is even greater: Amazon had revenues of $126B from its last quarter, whereas Alibaba had $34B.
Does Alibaba have stake in Didi?
Temasek cut 16% of its stake in e-commerce giant Alibaba and 11% of its shares in ride-hailing service Didi.
Is Alibaba the Chinese Amazon?
Amazon and Alibaba are both e-commerce giants operating largely without physical stores. Amazon dominates the American shopping space, while Alibaba does the same in China.
How many shares of Didi are there?
Share Statistics
| Avg Vol (3 month) 3 | 39.39M |
|---|---|
| Shares Outstanding 5 | 4.73B |
| Implied Shares Outstanding 6 | N/A |
| Float 8 | 2.5B |
| % Held by Insiders 1 | 0.00% |
What Bank DiD Didi IPO?
Goldman was one of the main underwriters of Didi’s New York IPO, along with Morgan Stanley and JPMorgan. Reuters reported last week, citing a source with knowledge of the matter, that Didi aims to complete the Hong Kong listing as soon as in the next three months, and delist from New York by June 2022.
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