DiDi Global Inc. reported a profit of RMB1.3 billion (approximately US$174.6 million) for the full year ended December 31, 2024, marking a significant turnaround from losses of RMB4.8 billion in 2023 and RMB11.7 billion in 2022. Total revenues for 2024 increased by 7.5% to RMB206.8 billion (US$28.3 billion) from RMB192.4 billion in 2023, driven by growth across its segments.
For the fourth quarter of 2024, revenues increased by 7.1% to RMB52.9 billion (US$7.32 billion) compared to the same period in 2023. However, the company reported a net loss of RMB1.3 billion (US$180 million) for Q4 2024, swinging from a net profit of RMB49 million in Q4 2023.
The China Mobility segment saw revenues increase by 6.1% to RMB185.7 billion for the full year, while the International segment demonstrated robust growth with revenues surging by 40.8% to RMB11.0 billion. Adjusted EBITDA for the full year 2024 reached RMB7.4 billion (US$1.0 billion), a substantial improvement from RMB1.7 billion in 2023, indicating enhanced operating performance.
DiDi's board of directors authorized a new share repurchase program on March 17, 2025, allowing for the repurchase of up to US$2 billion of its shares over 24 months. This follows the completion of approximately US$847.5 million in repurchases under a previous US$1 billion program authorized in November 2023, reflecting management's confidence in the company's financial health and commitment to shareholder returns.
As of December 31, 2024, the company maintained a solid liquidity position with cash and cash equivalents and treasury investments totaling RMB53.6 billion (US$7.3 billion). Additionally, DiDi completed the repurchase of certain preferred shares of its subsidiary, City Puzzle Holdings Limited, for approximately US$408 million by the end of 2024, and its autonomous driving subsidiary, Voyager Group Inc., secured a new round of financing in October 2024.
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