Since this year, DiDi Global Inc. has accelerated its strategic transformation from fast to stable and from speed to quality. With the disappearance of the demographic dividend, the ceiling of the growth of the ToC business of DiDi gradually appeared, and DiDi actively launched a one-stop Saas online taxi solution in the digital era, showing a steady trend this year.
Didi Global Co., Ltd. (hereinafter referred to as "Didi", Chinese: 滴滴), headquartered in Beijing, China, recently released its financial report for the first quarter of 2023. According to the report, DiDi's revenue in the first quarter of 2023 was CNY 42.712 billion（USD 5.95 billion）, up 19.1% year-on-year. DiDi’s net loss in the first quarter of 2023 was CNY 918 million, compared with a net loss of CNY 16.070 billion in the same period a year earlier, and the net loss attributable to shareholders was CNY 1.160 billion, compared with a net loss of CNY 16.276 billion in the same period a year earlier. By business, the revenue of DiDi China's travel business in the first quarter of 2023 was CNY 39.049 billion, an increase of 18.7% from CNY 32.892 billion in the same period of the previous year; the revenue of the international business was CNY 1.691 billion, an increase of 40.7% from CNY 1.2 billion in the same period of the previous year; and the other businesses realized total revenue of CNY 1.972 billion, an increase of 12.4% year-on-year.
In terms of core business travel, the company's business has continued to recover since DiDi's travel app hit the shelves in January this year. 2023 Q1 DiDi's total core platform Gross Transaction Value (GTV) reached CNY 72.71 billion, up 24.1% year-on-year. Among them, the GTV of China's travel business reached CNY 58.95 billion, up 22.6% year-on-year, while the GTV of the internationalization business reached CNY 13.75 billion, up 30.7% year-on-year.
Founded in 2012, DiDi is one of the leading mobile travel technology platforms and the largest online taxi travel platform in China. DiDi provides users with diversified services such as cab summoning, online taxi, hitchhiking, public transportation, shared bicycle, shared motorcycle, chauffeur-driven, car service, delivery and freight transportation, and finance. Public data shows that the market share of DiDi is still the first in China.
In terms of globalization, DiDi plans to continue to expand its international business this year. DiDi currently provides services to more than 550 million users in Asia-Pacific, Latin America, and Russia, and said it will continue to take Brazil and Mexico to Latin America, among others, as its main markets. Drip plans to increase its investment in international business growth over the remainder of 2023, continuing to explore new mobile product offerings and expansion into new markets.
After returning to the shelves, Drip made several moves in the first half of the year. DiDi launched an instant delivery service offering small-size items, and DiDi Express has now opened its services in more than 300 cities across China. At the same time, drip car rental officially launched operations, the platform has access to Ctrip（Chinese:携程） car rental and other industry partner merchants, connecting more than 10,000 car companies. In terms of autonomous driving, DiDi has also announced new progress, said Wei Junqing, head of KargoBot, in KargoBot has deployed more than 100 self-driving trucks, and DiDi's new energy vehicles accounted for more than 60%.
The travel field has attracted a very large number of companies to enter the field, China's representative companies include T3 GO（Chinese:T3出行）, CAOCAO （Chinese:曹操出行）, etc.; Internationally, the United States of America's Uber and France's BlaBlaCar, etc. have considerable strength.
As of press time, DiDi was trading at 3.19 USD per share, with a total market capitalization of USD 15.484 billion .