2021年三季度滴滴财报（英）-14页_229kb

DiDi Global Quarterly Financial Summary (Q2 and Q3 2021)

Core Content Overview

DiDi Global Inc. (NYSE: DIDI), a leading mobility technology platform, released its unaudited interim financial results for the second quarter (Q2) and third quarter (Q3) of 2021. The results include balance sheets, income statements, and cash flow statements, along with reconciliation of GAAP and non-GAAP metrics.

Key Financial Highlights

Balance Sheet (As of June 30 and September 30, 2021)

• Total Assets:
  • June 30, 2021: RMB155,272 million (US$24,185 million)
  • September 30, 2021: RMB155,831 million (US$24,185 million)
• Total Liabilities:
  • June 30, 2021: RMB28,619 million (US$4,674 million)
  • September 30, 2021: RMB30,116 million (US$4,674 million)
• Shareholders’ Equity (Deficit):
  • June 30, 2021: RMB112,526 million (US$17,464 million)
  • September 30, 2021: RMB112,594 million (US$17,475 million)

Revenue by Segment

• Q3 2021 Total Revenues: RMB42.7 billion (US$6.6 billion)
  • China Mobility: RMB39.0 billion (US$6.1 billion)
  • International: RMB1.0 billion (US$0.1 billion)
  • Other Initiatives: RMB2.7 billion (US$0.4 billion)

Net Loss

• Q3 2021 Net Loss Attributable to Ordinary Shareholders: RMB30.6 billion (US$4.7 billion)
• Q2 2021 Net Loss Attributable to Ordinary Shareholders: RMB24.4 billion (US$3.8 billion)
• Q3 2021 Adjusted EBITA (Non-GAAP): RMB7.5 billion (US$1.2 billion) loss
• Q2 2021 Adjusted EBITA (Non-GAAP): RMB2.3 billion (US$0.36 billion) loss

Main Points and Key Information

Revenue Trends

• Revenues increased significantly in Q3 2021 compared to Q2 2021, driven by the China Mobility segment.
• The International and Other Initiatives segments also contributed to the overall revenue growth, though at a lower rate.

Operating Losses

• Q3 2021 Operating Loss: RMB9.1 billion (US$1.4 billion)
• Q2 2021 Operating Loss: RMB24.6 billion (US$3.8 billion)
• The operating losses were primarily due to high costs and expenses, particularly in the Other Initiatives segment.

Costs and Expenses

• Q3 2021 Total Costs and Expenses: RMB30.3 billion (US$4.7 billion)
  • China Mobility: RMB42.5 billion (US$6.6 billion)
  • International: RMB1.6 billion (US$0.25 billion)
  • Other Initiatives: RMB2.8 billion (US$0.44 billion)
• Q2 2021 Total Costs and Expenses: RMB72.8 billion (US$11.3 billion)
  • China Mobility: RMB42.6 billion (US$6.6 billion)
  • International: RMB1.7 billion (US$0.26 billion)
  • Other Initiatives: RMB2.7 billion (US$0.42 billion)

Investment Losses

• In Q3 2021, the Company recorded a significant investment loss of RMB20.8 billion (US$3.2 billion) due to the adverse change in Chengxin's business, a company engaged in community group buying.
• An asset impairment charge of RMB2.2 billion (US$0.3 billion) was also recognized for the bike and e-bike sharing business.

Cash Flow

• Q3 2021 Net Increase in Cash, Cash Equivalents, and Restricted Cash: RMB23.0 billion (US$3.5 billion)
• Q2 2021 Net Increase in Cash, Cash Equivalents, and Restricted Cash: RMB2.3 billion (US$0.36 billion)
• Q3 2021 Cash, Cash Equivalents, and Restricted Cash at End of Period: RMB49.3 billion (US$7.6 billion)

Non-GAAP Adjustments

• Adjusted EBITA (Non-GAAP):
  • Q3 2021: RMB7.5 billion (US$1.2 billion) loss
  • Q2 2021: RMB2.3 billion (US$0.36 billion) loss
• Adjusted EBITA is calculated by excluding certain items such as share-based compensation, amortization of intangible assets, and other non-operational expenses.

Shareholder Metrics

• Basic and Diluted Net Loss per Share (Q3 2021):
  • Ordinary Shares: RMB203.34 per share
  • ADSs: US$50.84 per ADS
• Weighted Average Number of Shares Outstanding (Q3 2021):
  • Ordinary Shares: 120,225,151 shares
  • ADSs: 480,900,604 ADSs

Summary of Financial Performance

• The Company reported substantial net losses in both Q2 and Q3 2021, with Q3 showing a higher loss of RMB30.6 billion (US$4.7 billion) compared to Q2’s RMB24.4 billion (US$3.8 billion).
• Revenue growth was driven by the China Mobility segment, which accounted for the majority of total revenue.
• The International and Other Initiatives segments faced challenges, contributing to overall losses.
• Significant investment losses were recorded in Q3, primarily due to the impairment of assets in the bike and e-bike sharing business and the decline in Chengxin's business.
• Despite the losses, the Company maintained a positive net increase in cash, cash equivalents, and restricted cash in Q3, indicating financial resilience.