DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI), the
world’s leading mobility technology platform, today announced its
unaudited interim condensed financial results for the second
quarter ended June 30, 2021 and the third quarter ended September
30, 2021.
DiDi Global Inc.
Unaudited interim condensed
consolidated balance sheets
(Amounts in millions, except
for per share data and otherwise noted, unaudited)
As of
December 31,
June 30,
September 30,
2020
2021
2021
2021
RMB
RMB
RMB
US$ (1)
ASSETS Current assets: Cash and cash
equivalents
19,372
26,096
48,649
7,550
Restricted cash
2,238
169
671
104
Short-term investments
37,398
15,169
12,554
1,948
Accounts and notes receivable, net of allowance for credit losses
of RMB556, RMB645 and RMB722, respectively
2,438
3,376
3,008
467
Loan receivable, net of allowance for credit losses of RMB146,
RMB230 and RMB296, respectively
2,878
4,609
4,697
729
Amounts due from related parties
103
2,368
2,449
380
Prepayments, receivables and other current assets, net
4,255
4,267
5,007
778
Total current assets
68,682
56,054
77,035
11,956
Non-current assets: Investment securities
573
17,184
2,251
349
Long-term investments, net
7,105
11,238
9,020
1,400
Operating lease right-of-use assets
1,931
1,260
1,301
202
Property and equipment, net
9,819
10,803
8,461
1,313
Intangible assets, net
5,297
4,334
3,860
599
Goodwill
49,124
49,199
48,962
7,599
Non-current restricted cash
21
15
-
-
Deferred tax assets, net
191
163
195
30
Other non-current assets, net
4,522
5,022
4,746
737
Total non-current assets
78,583
99,218
78,796
12,229
Total assets
147,265
155,272
155,831
24,185
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY
(DEFICIT) Current liabilities: Short-term borrowings
5,827
7,259
7,422
1,152
Accounts and notes payable
7,353
4,589
4,819
748
Deferred revenue and customer advances
915
780
711
110
Operating lease liabilities, current portion
679
453
471
73
Amounts due to related parties
282
242
356
55
Accrued expenses and other current liabilities
11,304
11,241
12,774
1,983
Total current liabilities
26,360
24,564
26,553
4,121
Non-current liabilities: Long-term borrowings
1,453
2,383
1,967
305
Operating lease liabilities, non-current portion
1,172
741
734
114
Deferred tax liabilities
844
627
581
90
Other non-current liabilities
286
304
281
44
Total non-current liabilities
3,755
4,055
3,563
553
Total liabilities
30,115
28,619
30,116
4,674
Commitments and contingencies Mezzanine equity
Convertible preferred shares (2)
189,839
189,839
-
-
Convertible redeemable non-controlling interests
3,345
11,836
12,052
1,870
Convertible non-controlling interests
100
1,069
1,069
166
Total Mezzanine Equity
193,284
202,744
13,121
2,036
SHAREHOLDERS’ EQUITY (DEFICIT): DiDi Global Inc.
shareholders’ equity (deficit): Ordinary shares (US$0.00002 par
value; 1,617,583,821 shares, 1,617,583,821 shares and 5,000,000,000
shares authorized; 124,067,444 shares, 193,302,859 shares and
1,205,810,369 shares issued; 108,531,508 shares, 168,885,317 shares
and 1,181,921,441 shares outstanding as of December 31, 2020, June
30, 2021 and September 30,2021, respectively)
-
-
-
-
Treasury shares
-
-
-
-
Additional paid-in capital
12,178
31,705
250,535
38,882
Statutory reserves
17
17
17
3
Accumulated other comprehensive loss
(2,002
)
(2,698
)
(2,448
)
(380
)
Accumulated deficit
(86,411
)
(105,198
)
(135,578
)
(21,041
)
Total DiDi Global Inc. shareholders’ equity (deficit)
(76,218
)
(76,174
)
112,526
17,464
Non-controlling interests
84
83
68
11
Total shareholders’ equity (deficit)
(76,134
)
(76,091
)
112,594
17,475
Total liabilities, mezzanine equity and shareholders’ equity
(deficit)
147,265
155,272
155,831
24,185
(1) This results announcement contains translations of certain
Renminbi (“RMB”) amounts into U.S. dollars (“US$”) for the
convenience of the reader. Unless otherwise stated, all
translations of RMB into US$ were made at RMB6.4434 to US$1.00, the
exchange rate on September 30, 2021 as set forth in the H.10
statistical release of the Federal Reserve Board.
(2) The convertible preferred shares were converted to ordinary
shares immediately prior to the closing of the Company’s initial
public offering in early July.
DiDi Global Inc.
Unaudited interim condensed
consolidated statements of comprehensive income (loss)
(Amounts in millions, except
for per share data and otherwise noted, unaudited)
For the Three Months Ended
June 30,
For the Six Months Ended June
30,
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB
US$ RMB RMB US$ Revenues
China Mobility
29,433
44,804
48,378
84,039
41,111
39,009
6,054
89,489
123,048
19,097
International
373
807
1,140
1,611
502
966
150
1,642
2,577
400
Other Initiatives
1,361
2,601
2,121
4,725
1,785
2,700
419
3,906
7,425
1,152
Total revenues
31,167
48,212
51,639
90,375
43,398
42,675
6,623
95,037
133,050
20,649
Costs and expenses Cost of
revenues (1)
(26,627
)
(42,561
)
(43,981
)
(80,158
)
(37,323
)
(40,784
)
(6,330
)
(81,304
)
(120,942
)
(18,770
)
Operations and support
(926
)
(1,758
)
(1,823
)
(3,907
)
(1,219
)
(1,910
)
(296
)
(3,042
)
(5,817
)
(903
)
Sales and marketing
(1,498
)
(3,904
)
(3,267
)
(9,011
)
(2,654
)
(4,441
)
(689
)
(5,921
)
(13,452
)
(2,088
)
Research and development
(1,435
)
(2,746
)
(2,913
)
(4,608
)
(1,568
)
(2,341
)
(363
)
(4,481
)
(6,949
)
(1,078
)
General and administrative
(1,485
)
(21,847
)
(3,781
)
(23,949
)
(1,732
)
(2,253
)
(350
)
(5,513
)
(26,202
)
(4,066
)
Total costs and expenses
(31,971
)
(72,816
)
(55,765
)
(121,633
)
(44,496
)
(51,729
)
(8,028
)
(100,261
)
(173,362
)
(26,905
)
Loss from operations (2)
(804
)
(24,604
)
(4,126
)
(31,258
)
(1,098
)
(9,054
)
(1,405
)
(5,224
)
(40,312
)
(6,256
)
Interest income
298
190
635
377
309
202
31
944
579
90
Interest expenses
(20
)
(86
)
(39
)
(147
)
(46
)
(65
)
(10
)
(85
)
(212
)
(33
)
Investment income (loss), net (3)
561
(100
)
99
12,261
830
(20,772
)
(3,224
)
929
(8,511
)
(1,321
)
Income (loss) from equity method investments, net
(162
)
(130
)
(357
)
(175
)
(151
)
115
18
(508
)
(60
)
(9
)
Other income (loss), net
11
532
(479
)
148
780
(689
)
(107
)
301
(541
)
(84
)
Income (loss) before income taxes
(116
)
(24,198
)
(4,267
)
(18,794
)
624
(30,263
)
(4,697
)
(3,643
)
(49,057
)
(7,613
)
Income tax benefits (expenses)
46
(73
)
225
6
41
(112
)
(17
)
266
(106
)
(16
)
Net income (loss)
(70
)
(24,271
)
(4,042
)
(18,788
)
665
(30,375
)
(4,714
)
(3,377
)
(49,163
)
(7,629
)
Less: Net income (loss) attributable to non-controlling interest
shareholders
(7
)
1
(17
)
(1
)
(7
)
5
1
(24
)
4
1
Net income (loss) attributable to DiDi Global Inc.
(63
)
(24,272
)
(4,025
)
(18,787
)
672
(30,380
)
(4,715
)
(3,353
)
(49,167
)
(7,630
)
Accretion of convertible redeemable non-controlling interests to
redemption value
(41
)
(175
)
(60
)
(265
)
(45
)
(216
)
(34
)
(105
)
(481
)
(75
)
Deemed dividends to preferred shareholders upon repurchases of
convertible preferred shares
(1
)
-
(1
)
-
-
-
-
(1
)
-
-
Income allocation to participating preferred shares
-
-
-
-
(627
)
-
-
-
-
-
Net loss attributable to ordinary shareholders of DiDi Global
Inc.
(105
)
(24,447
)
(4,086
)
(19,052
)
-
(30,596
)
(4,749
)
(3,459
)
(49,648
)
(7,705
)
Net income (loss)
(70
)
(24,271
)
(4,042
)
(18,788
)
665
(30,375
)
(4,714
)
(3,377
)
(49,163
)
(7,629
)
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of nil
(104
)
(1,117
)
(267
)
(691
)
(2,863
)
250
39
(3,130
)
(441
)
(68
)
Share of other comprehensive loss of equity method investees
-
(2
)
(1
)
(5
)
-
-
-
(1
)
(5
)
(1
)
Total other comprehensive income (loss)
(104
)
(1,119
)
(268
)
(696
)
(2,863
)
250
39
(3,131
)
(446
)
(69
)
Total comprehensive loss
(174
)
(25,390
)
(4,310
)
(19,484
)
(2,198
)
(30,125
)
(4,675
)
(6,508
)
(49,609
)
(7,698
)
Less: comprehensive income (loss) attributable to non-controlling
interest shareholders
(7
)
1
(17
)
(1
)
(7
)
5
1
(24
)
4
1
Comprehensive loss attributable to DiDi Global Inc.
(167
)
(25,391
)
(4,293
)
(19,483
)
(2,191
)
(30,130
)
(4,676
)
(6,484
)
(49,613
)
(7,699
)
Accretion of convertible redeemable non-controlling interests to
redemption value
(41
)
(175
)
(60
)
(265
)
(45
)
(216
)
(34
)
(105
)
(481
)
(75
)
Deemed dividends to preferred shareholders upon repurchases of
convertible preferred shares
(1
)
-
(1
)
-
-
-
-
(1
)
-
-
Income allocation to participating preferred shares
-
-
-
-
(627
)
-
-
-
-
-
Comprehensive loss attributable to ordinary shareholders of DiDi
Global Inc.
(209
)
(25,566
)
(4,354
)
(19,748
)
(2,863
)
(30,346
)
(4,710
)
(6,590
)
(50,094
)
(7,774
)
Weighted average number of ordinary shares used in computing net
loss per share —Basic
107,619,131
120,225,151
105,218,085
114,671,250
107,980,508
1,180,836,142
1,180,836,142
106,145,614
473,964,914
473,964,914
—Diluted
107,619,131
120,225,151
105,218,085
114,671,250
107,980,508
1,180,836,142
1,180,836,142
106,145,614
473,964,914
473,964,914
Net loss per share attributable to ordinary shareholders
—Basic
(0.97
)
(203.34
)
(38.84
)
(166.14
)
-
(25.91
)
(4.02
)
(32.59
)
(104.75
)
(16.26
)
—Diluted
(0.97
)
(203.34
)
(38.84
)
(166.14
)
-
(25.91
)
(4.02
)
(32.59
)
(104.75
)
(16.26
)
Weighted average number of ADSs used in computing net loss per
ADS —Basic
430,476,524
480,900,604
420,872,340
458,685,000
431,922,032
4,723,344,568
4,723,344,568
424,582,456
1,895,859,656
1,895,859,656
—Diluted
430,476,524
480,900,604
420,872,340
458,685,000
431,922,032
4,723,344,568
4,723,344,568
424,582,456
1,895,859,656
1,895,859,656
Net loss per ADS attributable to ordinary shareholders
—Basic
(0.24
)
(50.84
)
(9.71
)
(41.54
)
-
(6.48
)
(1.01
)
(8.15
)
(26.19
)
(4.06
)
—Diluted
(0.24
)
(50.84
)
(9.71
)
(41.54
)
-
(6.48
)
(1.01
)
(8.15
)
(26.19
)
(4.06
)
(1) For the three months ended
September 30, 2021, cost of revenues included an asset impairment
charge of RMB2.2 billion (US$0.3 billion) for certain assets of the
Company's bike and e-bike sharing business, which was mainly caused
by the adverse change in such business in the third quarter of
2021. (2) Included share-based
compensation expenses as follows:
For the Three Months Ended
June 30,
For the Six Months Ended June
30,
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB
RMB RMB US$ RMB RMB US$
Operations and support
13
59
45
103
14
54
8
59
157
24
Sales and marketing
35
105
104
155
51
85
13
155
240
37
Research and development
143
1,181
450
1,377
162
501
78
612
1,878
291
General and administrative
344
20,476
1,599
20,883
359
484
75
1,958
21,367
3,316
(3) Investment loss, net for the
three months ended September 30, 2021 was RMB20.8 billion (US$3.2
billion), primarily attributable to the investment loss arising
from changes in fair value of the Company’s investments in Chengxin
(a company engaged in community group buying business) due to the
adverse change in Chengxin’s business in the third quarter of 2021.
DiDi Global Inc.
Unaudited interim condensed
consolidated statements of cash flows
(Amounts in millions,
unaudited)
For the Three Months Ended
June 30,
For the Six Months Ended June
30,
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB
US$ RMB RMB US$ Net cash provided by
(used in) operating activities
1,686
(1,189
)
(1,297
)
(7,327
)
2,993
(5,055
)
(785
)
1,696
(12,382
)
(1,922
)
Net cash provided by (used in) investing activities
(9,961
)
5,364
(5,732
)
3,350
465
306
47
(5,267
)
3,656
567
Net cash provided by (used in) financing activities
1,289
(1,750
)
4,298
8,531
2,355
27,739
4,305
6,653
36,270
5,629
Effect of exchange rate changes on cash, cash equivalents and
restricted cash
241
(136
)
(232
)
95
(27
)
50
9
(259
)
145
23
Net increase (decrease) in cash, cash equivalents and restricted
cash
(6,745
)
2,289
(2,963
)
4,649
5,786
23,040
3,576
2,823
27,689
4,297
Cash, cash equivalents and restricted cash at the beginning of the
period
17,462
23,991
13,680
21,631
10,717
26,280
4,078
13,680
21,631
3,357
Cash, cash equivalents and restricted cash at the end of the period
10,717
26,280
10,717
26,280
16,503
49,320
7,654
16,503
49,320
7,654
Selected financial information of segments The
following table presents information about revenues and Adjusted
EBITA by segment, and a reconciliation from the segment Adjusted
EBITA to total consolidated loss from operations for the periods
presented:
For the Three Months Ended
June 30,
For the Six Months Ended June
30,
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB
US$ RMB RMB US$ Revenues:
(Amounts in millions, unaudited) China Mobility
29,433
44,804
48,378
84,039
41,111
39,009
6,054
89,489
123,048
19,097
International
373
807
1,140
1,611
502
966
150
1,642
2,577
400
Other Initiatives
1,361
2,601
2,121
4,725
1,785
2,700
419
3,906
7,425
1,152
Total segment revenues
31,167
48,212
51,639
90,375
43,398
42,675
6,623
95,037
133,050
20,649
Adjusted EBITA: China Mobility
1,733
1,686
2,349
5,304
2,120
(29
)
(5
)
4,469
5,275
819
International
(590
)
(1,191
)
(1,261
)
(2,196
)
(763
)
(1,789
)
(278
)
(2,024
)
(3,985
)
(618
)
Other Initiatives
(916
)
(2,801
)
(2,012
)
(10,879
)
(1,374
)
(5,678
)
(881
)
(3,386
)
(16,557
)
(2,570
)
Total Adjusted EBITA (non-GAAP)
227
(2,306
)
(924
)
(7,771
)
(17
)
(7,496
)
(1,164
)
(941
)
(15,267
)
(2,369
)
Share-based compensation
(535
)
(21,821
)
(2,198
)
(22,518
)
(586
)
(1,124
)
(174
)
(2,784
)
(23,642
)
(3,668
)
Amortization of intangible assets
(496
)
(477
)
(1,004
)
(969
)
(495
)
(434
)
(67
)
(1,499
)
(1,403
)
(219
)
Total consolidated loss from operations
(804
)
(24,604
)
(4,126
)
(31,258
)
(1,098
)
(9,054
)
(1,405
)
(5,224
)
(40,312
)
(6,256
)
The following table presents the total depreciation expenses
of property and equipment by segment for the periods presented:
For the Three Months Ended
June 30,
For the Six Months Ended June
30,
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB
US$ RMB RMB US$ (Amounts in
millions, unaudited) China Mobility
66
72
133
151
62
71
11
195
222
34
International
14
28
28
52
15
30
5
43
82
13
Other Initiatives
646
976
1,180
1,941
790
1,099
172
1,970
3,040
472
Total depreciation expenses of property and equipment
726
1,076
1,341
2,144
867
1,200
188
2,208
3,344
519
DiDi Global Inc.
Unaudited reconciliation of
GAAP and Non-GAAP results
(Amounts in millions,
unaudited)
For the Three Months Ended
June 30,
For the Six Months Ended June
30,
For the Three Months Ended
September 30,
For the Nine Months Ended
September 30,
2020
2021
2020
2021
2020
2021
2021
2020
2021
2021
RMB RMB RMB RMB RMB RMB
US$ RMB RMB US$ Net income
(loss)
(70
)
(24,271
)
(4,042
)
(18,788
)
665
(30,375
)
(4,714
)
(3,377
)
(49,163
)
(7,629
)
Less: Interest income
(298
)
(190
)
(635
)
(377
)
(309
)
(202
)
(31
)
(944
)
(579
)
(90
)
Add: Interest expenses
20
86
39
147
46
65
10
85
212
33
Less: Investment income (loss), net
(561
)
100
(99
)
(12,261
)
(830
)
20,772
3,224
(929
)
8,511
1,321
Add: Loss (income) from equity method investments, net
162
130
357
175
151
(115
)
(18
)
508
60
9
Less: Other income (loss), net
(11
)
(532
)
479
(148
)
(780
)
689
107
(301
)
541
84
Less: Income tax benefits (expenses)
(46
)
73
(225
)
(6
)
(41
)
112
17
(266
)
106
16
Loss from operations
(804
)
(24,604
)
(4,126
)
(31,258
)
(1,098
)
(9,054
)
(1,405
)
(5,224
)
(40,312
)
(6,256
)
Add: Share-based compensation expenses
535
21,821
2,198
22,518
586
1,124
174
2,784
23,642
3,668
Add: Amortization of intangible assets
496
477
1,004
969
495
434
67
1,499
1,403
219
Adjusted EBITA (non-GAAP)
227
(2,306
)
(924
)
(7,771
)
(17
)
(7,496
)
(1,164
)
(941
)
(15,267
)
(2,369
)
Third Quarter 2021 Financial and Operational Metrics
- Total revenues for the third quarter of 2021 were
RMB42.7 billion (US$6.6 billion). Total revenues from the China
Mobility segment for the third quarter of 2021 were RMB39.0 billion
(US$6.1 billion). Total revenues from the International segment for
the third quarter of 2021 were RMB1.0 billion (US$0.1 billion).
Total revenues from the Other Initiatives segment for the third
quarter of 2021 were RMB2.7 billion (US$0.4 billion).
- Net loss attributable to ordinary shareholders for the
third quarter of 2021 was RMB30.6 billion (US$4.7 billion).
- Adjusted EBITA (Non-GAAP)1 for the third quarter of 2021
was a loss of RMB7.5 billion (US$1.2 billion). The Adjusted EBITA
(non-GAAP) of China Mobility segment was a loss of RMB29 million
(US$5 million) in the third quarter of 2021. The Adjusted EBITA
loss (non-GAAP) of the International segment were RMB1.8 billion
(US$0.3 billion) in the third quarter of 2021. The Adjusted EBITA
loss (non-GAAP) of the Other Initiatives segment were RMB5.7
billion (US$0.9 billion) in the third quarter of 2021.
- Core Platform Transactions for the third quarter of 2021
were 2,855 million. Transactions of China Mobility segment for the
third quarter of 2021 were 2,356 million. Transactions from the
International segment for the third quarter of 2021 were 499
million.
- Core Platform Gross Transaction Value (“GTV”)2 for the
third quarter of 2021 reached RMB68.7 billion (US$10.7 billion).
GTV from the China Mobility segment for the third quarter of 2021
reached RMB58.4 billion (US$9.1 billion). GTV from the
International segment for the third quarter of 2021 reached RMB10.3
billion (US$1.6 billion).
- Platform Sales3 from China Mobility and International
segments for the third quarter of 2021 were RMB9.7 billion
(US$1.5 billion). Platform Sales from the China Mobility segment
for the third quarter of 2021 reached RMB8.9 billion (US$1.4
billion). Platform Sales from the International segment for the
third quarter of 2021 reached RMB0.8 billion (US$0.1 billion).
Second Quarter 2021 Financial and Operational Metrics
- Total revenues for the second quarter of 2021 were
RMB48.2 billion. Total revenues from the China Mobility segment for
the second quarter of 2021 were RMB44.8 billion. Total revenues
from the International segment for the second quarter of 2021 were
RMB0.8 billion. Total revenues from the Other Initiatives segment
for the second quarter of 2021 were RMB2.6 billion.
- Net loss attributable to ordinary shareholders for the
second quarter of 2021 was RMB24.4 billion.
- Adjusted EBITA (Non-GAAP) for the second quarter of 2021
was a loss of RMB2.3 billion.
- Core Platform Transactions for the second quarter of
2021 were 3,004 million. Transactions from the China Mobility
segment for the second quarter of 2021 were 2,570 million.
Transactions from the International segment for the second quarter
of 2021 were 434 million.
- Core Platform Gross Transaction Value (“GTV”) for the
second quarter of 2021 reached RMB73.3 billion. GTV from the China
Mobility segment for the second quarter of 2021 reached RMB64.6
billion. GTV from the International segment for the second quarter
of 2021 reached RMB8.7 billion.
- Platform Sales from China Mobility and International
segments for the second quarter of 2021 reached RMB11.5
billion. Platform Sales from the China Mobility segment for the
second quarter of 2021 reached RMB10.7 billion. Platform Sales from
the International segment for the second quarter of 2021 reached
RMB0.8 billion.
On December 3, 2021, DiDi announced that its board of directors
(the “Board”) has authorized and supports the Company to undertake
the necessary procedures and file the relevant application(s) for
the delisting of the Company’s ADSs from the New York Stock
Exchange, while ensuring that ADSs will be convertible into freely
tradable shares of the Company on another internationally
recognized stock exchange at the election of ADS holders. The
Company will organize a shareholders meeting to vote on the above
matter at an appropriate time in the future, following necessary
procedures. The Board has also authorized the Company to pursue a
listing of its class A ordinary shares on the Main Board of the
Hong Kong Stock Exchange. The Company is executing above plans and
will update investors in due course.
About DiDi Global Inc.
DiDi Global Inc. (NYSE: DIDI) is the world’s leading mobility
technology platform. It offers a wide range of app-based services
across Asia Pacific, Latin America and Africa, as well as in
Central Asia and Russia, including ride hailing, taxi hailing,
chauffeur, hitch and other forms of shared mobility as well as auto
solutions, food delivery, intra-city freight and financial
services.
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 cost method/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, and (ix) amortization of intangible
assets.
This non-GAAP financial measure is not defined under U.S. GAAP
and is not presented in accordance with U.S. GAAP. It should not be
considered in isolation or construed as an alternative to net
income (loss) or any other measure of performance or as an
indicator of the Company’s operating performance. Investors are
encouraged to review this historical non-GAAP financial measure in
light of the most directly comparable GAAP measure. The non-GAAP
financial measure may not be comparable to similarly titled
measures presented by other companies.
For more information on the non-GAAP financial measure, please
see the tables captioned “Unaudited Reconciliations of GAAP and
Non-GAAP Results” set forth in this press release.
Exchange Rate Information
This announcement contains translations of certain RMB amounts
into U.S. dollars at a specified rate solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB to
U.S. dollars were made at a rate of RMB6.4434 to US$1.00, the
exchange rate in effect as of September 30, 2021 as set forth in
the H.10 statistical release of the Federal Reserve Board.
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 U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to,”
and similar statements. Statements that are not historical facts,
including statements about the Company’s beliefs, plans, and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in the
Company’s filings with the SEC. All information provided in this
press release is as of the date of this press release, and the
Company does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
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 cost method/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, and (ix)
amortization of 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/20211228005228/en/
For investor inquiries: DiDi Global Inc. Tianyi Wang Email:
ir@didiglobal.com
For media inquiries: DiDi Global Inc. Global Communications Team
Email: globalpr@didiglobal.com
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