Dida Inc. (Dida or the Company, HKG: 2559), a leading technology-driven mobility platform, announced the unaudited consolidated interim results for the six months ended June 30, 2024.
Financial Highlights:
– Revenue increased by 2.0% from RMB396.2 million for the six-month ended June 30, 2023 to RMB404.1 million for the six months ended June 30, 2024
– Gross profit decreased by 2.0% from RMB302.1 million for six month ended June 30, 2023 to RMB296.1 million for the six months ended June 30, 2024
– Net profit amounted to RMB947.9 million for the six months ended June 30, 2024, as compared to net loss of RMB220.2 million for six month ended June 30,2023
– Adjusted net profit (non-IFRS measure) increased by 51.3% from RMB85.7 million for the six months ended June 30, 2023 to RMB129.7 million for the six months ended June 30, 2024
Operation Highlights:
– Gross transaction value amounted to RMB4.0 billion and total number of orders reached 61.7 million for the six months ended June 30, 2024
– Registered users reached over 368 million as of June 30, 2024
– Certified private car owners reached 17.7 million, an increase of 17% year-on-year
Business Outlook
Carpooling marketplace business
The Company believes that carpooling in China is still at its early stage of development. It plans to grow its business by constantly refining its platform and services. The Company has been applying AI to optimize the order matching between its riders and private car owners, improving its route planning and navigation capabilities. It will continue to ensure the safety of its riders and private car owners by implementing a series of real-time security features. It has also been using AI to improve the efficiency of customer services and enhance its user experience.
Instead of treating a local market as a homogeneous whole, the Company can now operate at a higher level of granularity. It can group routes with similar origins and destinations and balance supply and demand at a more granular level through dynamic pricing and appropriate incentives.
In addition, the Company has been working with strategic partners to gain further growth. For example, it has entered into a cooperation agreement with DingTalk, a leading enterprise SaaS platform, to jointly create a carpooling service for the large population of office workers. Such service can offer them a greener and lower-cost alternative for daily commuting. It has also entered into respective strategic cooperation agreements with Baidu Maps, a leading mapping service provider, to jointly explore carpooling and taxi services in a wide range of scenarios. It believes there is potentially a huge market for carpooling that is yet to be fully unleashed and the benefits of carpooling are yet to be fully recognized by the public.
Taxi business
In selected cities where the Company has already entered into strategic cooperation agreements, it will closely work with all relevant stakeholders, including local authorities, taxi industry associations, taxi companies, and taxi drivers to implement its strategy for smart taxi services.
For the full announcement of Dida for the interim results ended June 30, 2024, please visit: https://manager.wisdomir.com/files/594/2024/0830/20240830190001_32977149_en.pdf.
About Dida Inc.
Dida Inc. (Dida or the Company, HKG: 2559) is a leading technology-driven mobility platform in China. The Company creates more transit capacity with less environmental impact by providing carpooling marketplace services to pair up riders with private car owners if they are heading in similar directions at compatible times. It also provides smart taxi services, aiming to improve the efficacy and efficiency of relevant stakeholders in the taxi industry in China. Dida makes the mobility ecosystem greener and more efficient, and each trip experience warm and enjoyable.
Forward-Looking Statements
This press release contains forward-looking statements relating to the business outlook, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in future. Underlying the forward-looking statements is a large number of risks and uncertainties. Further information regarding these risks and uncertainties is included in our other public disclosure documents on our corporate website.