滴滴2023年Q4和2023年全年财报.pdf

1 DiDi Announces Results for Fourth Quarter and Full Year 2023 Beijing,March 23,2024-DiDi Global Inc.(“we”,“us”,“DiDi”and the“Company”),a leading mobility technology platform,today announced its unaudited condensed financial results for the quarter and the full year ended December 31,2023.Mr.Will Wei Cheng,Chairman and Chief Executive Officer of DiDi,commented,“In 2023,the potential of the mobility market continued to be realized.Benefiting from this,our business maintained its healthy growth and saw continued efficiency improvements.We are fully confident in our future progress.In 2024,we will continue to focus on our core businesses,promote the healthy development of our domestic and international businesses,foster technological,product and service innovations,and serve our consumers,drivers,and ecosystem partners better.”Fourth Quarter and Full Year 2023 Highlights Total revenues for the fourth quarter of 2023 were RMB49.4 billion,an increase of 55.4%from the fourth quarter of 2022.Total revenues from the China Mobility segment for the fourth quarter of 2023 were RMB44.9 billion,an increase of 60.9%from the fourth quarter of 2022.Total revenues from the International segment for the fourth quarter of 2023 were RMB2.2 billion,an increase of 33.3%from the fourth quarter of 2022.Total revenues for the full year of 2023 were RMB192.4 billion,an increase of 36.6%from the full year of 2022.Total revenues from the China Mobility segment for the full year of 2023 were RMB175.0 billion,an increase of 39.0%from the full year of 2022.Total revenues from the International segment for the full year of 2023 were RMB7.8 billion,an increase of 33.8%from the full year of 2022.Net income for the fourth quarter of 2023 was RMB1.1 billion.Net income attributable to ordinary shareholders of DiDi for the fourth quarter of 2023 was RMB0.8 billion.Net income for the full year of 2023 was RMB0.5 billion.Net loss attributable to ordinary shareholders of DiDi for the full year of 2023 was RMB0.5 billion.Adjusted EBITA(Non-GAAP)1 for the fourth quarter of 2023 was a loss of RMB1.3 billionThe Adjusted EBITA(non-GAAP)of the China Mobility segment was a gain of RMB1.4 billion in the fourth quarter of 2023.The Adjusted EBITA loss(non-GAAP)of the International segment was RMB1.1 billion in the fourth quarter of 2023.The Adjusted EBITA loss(non-GAAP)of the Other Initiatives segment was RMB1.5 billion in the fourth quarter of 2023.Adjusted EBITA(Non-GAAP)for the full year of 2023 was a loss of RMB2.2 billion.The Adjusted EBITA(non-GAAP)of the China Mobility segment was a gain of RMB5.3 billion in the full year of 2023.The Adjusted EBITA loss(non-GAAP)of the International segment was RMB2.3 billion in the full year of 2023.The Adjusted EBITA loss(non-GAAP)of the Other Initiatives segment was RMB5.1 billion in the full year of 2023.Total cash and cash equivalents,restricted cash and treasury investments were RMB55.6 billion as of December 31,2023,compared to RMB48.8 billion as of December 31,2022.Core Platform Transactions2 for the fourth quarter of 2023 reached 3,715 million,an increase of 64.8%from the fourth quarter of 2022.Transactions for the China Mobility segment for the fourth quarter of 2023 reached 2,932 million,an increase of 71.5%from the fourth quarter of 2022Transactions for the International segment for the fourth quarter of 2023 reached 783 million,an increase of 43.9%from the fourth quarter of 2022.Core Platform Transactions for the full year of 2023 reached 13,469 million,an increase of 39.1%from the full year of 2022.Transactions for the China Mobility segment for the full year of 2023 reached 10,809 million,an increase of 39.8%from the full year of 2022.Transactions for the International segment for the full year of 2023 reached 2,660 million,an increase of 36.2%from the full year of 2022.Core Platform Gross Transaction Value3(“GTV4”)for the fourth quarter of 2023 reached RMB93.2 billion,an increase of 65.8%from the fourth quarter of 2022.GTV from the China Mobility segment for the fourth quarter of 2023 reached RMB71.7 billion,an increase of 72.7%from the fourth quarter of 2022.GTV from the International segment for the fourth quarter of 2023 reached RMB21.5 billion,an increase of 46.4%from the fourth quarter of 2022.Core Platform Gross Transaction Value(“GTV”)for the full year of 2023 reached RMB341.4 billion,an increase of 44.6%from the full year of 2022.GTV from the China Mobility segment for the full year of 2023 reached RMB270.7 billion,an increase of 45.4%from the full year of 2022.GTV from the International segment for the full year of 2023 reached RMB70.6 billion,an increase of 41.8%from the full year of 2022.1 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,2(v)income(loss)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 Core Platform Transactions refers to the number of completed rides for the China Mobility segment and completed rides or food deliveries for the International segment.Transactions are counted by the number of orders completed,so a carpooling ride with two paying consumers represents two transactions,even if both consumers start and end their ride at the same place,whereas two passengers on the same ride transaction order count as one transaction.3 Core Platform Gross Transaction Value refers to the summation of the GTV for the China Mobility and International segments.4 GTV refers to the total transaction value,including any applicable taxes,tolls and fees,of completed Transactions 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 Sales5 from the China Mobility and International segments for the fourth quarter of 2023 reached RMB15.5 billion,an increase of 54.6%from the fourth quarter of 2022.Platform Sales from the China Mobility segment for the fourth quarter of 2023 reached RMB13.5 billion,an increase of 63.6%from the fourth quarter of 2022.Platform Sales from the International segment for the fourth quarter of 2023 reached RMB2.0 billion,an increase of 12.0%from the fourth quarter of 2022.Platform Sales from the China Mobility and International segments for the full year of 2023 reached RMB55.6 billion,an increase of 36.7%from the full year of 2022.Platform Sales from the China Mobility segment for the full year of 2023 reached RMB47.9 billion,an increase of 38.3%from the full year of 2022.Platform Sales from the International segment for the full year of 2023 reached RMB7.7 billion,an increase of 28.0%from the full year of 2022.For the Three Months Ended December 31,For the Year Ended December 31,(In RMB millions except transactions)2022 2023%year-over-year change 2022 2023%year-over-year change Financial highlights.Revenues.31,810 49,419 55.4%140,792 192,380 36.6%China Mobility.27,888 44,869 60.9%125,931 175,034 39.0%International.1,667 2,222 33.3%5,863 7,842 33.8%Other Initiatives.2,255 2,328 3.2%8,998 9,504 5.6%Net income(loss).(704)1,082 N/A (23,783)535 N/A Net income(loss)attributable to ordinary shareholders of DiDi.(953)818 N/A (24,682)(502)-98.0%Adjusted EBITA(Non-GAAP).(1,388)(1,270)-8.5%(12,769)(2,163)-83.1%China Mobility.1,455 1,359 -6.6%(1,450)5,308 N/A International.(839)(1,103)31.5%(4,024)(2,323)-42.3%Other Initiatives.(2,004)(1,526)-23.9%(7,295)(5,148)-29.4%Operational highlights.Core Platform Transactions(in millions).2,254 3,715 64.8%9,686 13,469 39.1%China Mobility.1,710 2,932 71.5%7,733 10,809 39.8%International.544 783 43.9%1,953 2,660 36.2%Core Platform GTV.56,186 93,170 65.8%235,995 341,350 44.6%China Mobility.41,516 71,692 72.7%186,174 270,721 45.4%International.14,670 21,478 46.4%49,821 70,629 41.8%Platform Sales from Core Platform.10,011 15,481 54.6%40,640 55,573 36.7%China Mobility.8,265 13,525 63.6%34,627 47,878 38.3%International.1,746 1,956 12.0%6,013 7,695 28.0%5 Platform Sales refers to GTV less all of the earnings and incentives paid to drivers and partners,tolls,fees,taxes and others.4 Fourth Quarter 2023 Results China Mobility In the fourth quarter of 2023,our business delivered average daily transactions of 31.9 million,representing a record high.We plan to engage with our consumers and drivers more actively in 2024 through continuous investment in our ecosystem for drivers and more diversified and affordable product offerings to our consumers.For the Three Months Ended December 31,For the Year Ended December 31,(In RMB millions)2022 2023%year-over-year change 2022 2023%year-over-year change GTV.41,516 71,692 72.7%186,174 270,721 45.4%Platform Sales .8,265 13,525 63.6%34,627 47,878 38.3%Revenues .27,888 44,869 60.9%125,931 175,034 39.0%Adjusted EBITA(Non-GAAP).1,455 1,359 -6.6%(1,450)5,308 N/A GTV of RMB71.7 billion:GTV from the China Mobility segment increased by 72.7%year-over-year(“YoY”),primarily driven by the increase in the number of transactions for the China Mobility segment.Platform Sales of RMB13.5 billion:Platform Sales from the China Mobility segment increased by 63.6%YoY.The increase was primarily driven by the increase of GTV from the China Mobility segment,partially offset by the expiration of the temporary Value-added Tax exemption policy on revenues derived from the provision of public transportation services in China.The policy expired in December 2022.Revenues of RMB44.9 billion:Revenues from the China Mobility segment increased by 60.9%YoY.The increase was primarily driven by the increase of GTV from the China Mobility segment,partially offset by the expiration of the abovementioned Value-added Tax exemption policy.Adjusted EBITA gain of RMB1.4 billion:Adjusted EBITA gain in the China Mobility segment decreased by 6.6%YoY,primarily attributable to the expiration of the abovementioned Value-added Tax exemption policy.International We continue to focus on key markets such as Brazil and Mexico in Latin America.In the fourth quarter of 2023,we continued to step up our investments in incentives to drive the continuous growth of our International business.In 2024,we plan to strike a better balance between our investment and efficiency,to deliver sustainable growth and improved operating efficiency in our International business.For the Three Months Ended December 31,For the Year Ended December 31,(In RMB millions)2022 2023%year-over-year change 2022 2023%year-over-year change GTV.14,670 21,478 46.4%49,821 70,629 41.8%Platform Sales .1,746 1,956 12.0%6,013 7,695 28.0%Revenues .1,667 2,222 33.3%5,863 7,842 33.8%Adjusted EBITA(Non-GAAP).(839)(1,103)31.5%(4,024)(2,323)-42.3%GTV of RMB21.5 billion:GTV from the International segment increased by 46.4%YoY,primarily attributable to the increase in the number of transactions for the International segment and the favorable effect of fluctuations in exchange rates.Platform Sales of RMB2.0 billion:Platform Sales from the International segment increased by 12.0%YoY.The increase was primarily driven by the growth of GTV from the International segment,partially offset by increased spending on incentives.5 Revenues of RMB2.2 billion:Revenues from the International segment increased by 33.3%YoY.The increase was primarily driven by the growth of our International business,partially offset by increased spending on incentives.Adjusted EBITA loss of RMB1.1 billion:Adjusted EBITA loss in the International segment increased by 31.5%YoY,primarily attributable to increased spending on incentives.Other Initiatives For the Three Months Ended December 31,For the Year Ended December 31,(In RMB millions)2022 2023%year-over-year change 2022 2023%year-over-year change Revenues .2,255 2,328 3.2%8,998 9,504 5.6%Adjusted EBITA(Non-GAAP).(2,004)(1,526)-23.9%(7,295)(5,148)-29.4%Revenues of RMB2.3 billion:Revenues from the Other Initiatives segment remained flat YoY.Adjusted EBITA loss of RMB1.5 billion:Adjusted EBITA loss in the Other Initiatives segment decreased by 23.9%YoY,primarily driven by improved operating efficiency.Cost of Revenues:Cost of revenues was RMB41.6 billion for the fourth quarter of 2023,or 84.3%of total revenues,compared to RMB26.1 billion for the fourth quarter of 2022,or 82.1%of total revenues.The increase of cost of revenues as a percentage of revenues was primarily due to the increased costs related to the China ride hailing business.Operations and Support Expenses:Operations and support expenses was RMB2.0 billion for the fourth quarter of 2023,or 4.1%of total revenues,compared to RMB1.6 billion for the fourth quarter of 2022,or 5.0%of total revenues.The decrease of operations and support expenses as a percentage of revenues was primarily driven by improved operating efficiency.Sales and Marketing Expenses:Sales and marketing expenses was RMB2.9 billion for the fourth quarter of 2023,or 5.9%of total revenues,compared to RMB2.3 billion for the fourth quarter of 2022,or 7.1%of total revenues.The decrease of sales and marketing expenses as a percentage of revenues was primarily driven by a decrease in amortization of intangible assets.Research and Development Expenses:Research and development expenses was RMB2.4 billion for the fourth quarter of 2023,or 4.9%of total revenues,compared to RMB2.2 billion for the fourth quarter of 2022,or 6.9%of total revenues.The decrease of research and development expenses as a percentage of revenues was primarily driven by the improved fixed cost leverage.General and Administrative Expenses:General and administrative expenses was RMB2.2 billion for the fourth quarter of 2023,or 4.4%of total revenues,compared to RMB2.3 billion for the fourth quarter of 2022,or 7.2%of total revenues.The decrease of general and administrative expenses as a percentage of revenues was primarily driven by the improved fixed cost leverage.Investment income(loss),net:Investment income(loss),net,increased to a gain of RMB2.1 billion in the fourth quarter of 2023,from a gain of RMB1.2 billion in the fourth quarter of 2022.The investment income in the fourth quarter of 2022 was primarily related to the fair value gain from the Companys investment in Grab.The investment income in the fourth quarter of 2023 was primarily attributable to a disposal gain related to the spinoff of certain smart auto business.Net income(loss):Net income for the fourth quarter of 2023 was RMB1.1 billion,compared to a net loss of RMB0.7 billion in the fourth quarter of 2022.Net income(loss)attributable to ordinary shareholders of DiDi:Net income attributable to ordinary shareholders of DiDi for the fourth quarter of 2023 was RMB0.8 billion,compared to a net loss of RMB1.0 billion in the fourth quarter of 2022.6 Adjusted EBITA:Adjusted EBITA loss for the