Since the Chinese New Year in 2023, demand for commuting, consumer trips, and trips to large transportation hubs in China has recovered quickly, driving the growth of Didi's China mobility business.

The Beijing-based ride hailing giant Didi Global Inc. recently released its first annual report since its delisting. In 2022, Didi achieved operating revenue of CNY 140.8 billion ($20.37 billion), down 19% year-on-year.

Net loss attributable to Didi Global narrowed to CNY 23.78 billion in 2022, compared with the net loss of CNY 49.34 billion in 2021. In March 2023, Didi's transactions for China Mobility reached an average of 28.2 million orders per day, an increase of 42% from the same period last year.

Founded in 2012, Didi is one of the world’s leading mobile transportation platforms and the largest ride-hailing platform in China, listing on the New York Stock Exchange (NYSE) in 2021 and delisting in 2022.

Currently, Didi's revenue consists of three major businesses, namely China Mobility (ride-hailing, taxi hailing, chauffeur, etc.), International (ride-hailing and food delivery services, etc.), and Other Initiative (auto solutions, food delivery, intra-city freight, financial services, etc.), accounting for 89%, 4%, and 7% of the company's total revenue, respectively.

In overseas markets, Didi has launched operations in 16 countries, including the US, India, Japan, and Australia, with 587 million active users and 23 million active drivers worldwide. In 2022, Didi's international business revenue reached CNY 5.9 billion, up 62% year-on-year, which is the only growth segment among its three major businesses.

Didi's international travel and food delivery services have reached an average of 6.6 million orders per day in 2023. Currently, Didi has launched "Moto," a shared motorcycle service, in several countries in Latin America and Egypt, as well as food delivery and financial services in Latin America (including countries such as Chile, Peru, etc.).

According to global authoritative consulting firm Longbridge Dolphin Research, Didi's market share in China was about 80% in 2022, a slight retreat from its peak share of over 90%, but still a significant advantage. Two significant factors contributing to Didi's sustained market dominance following its exit are the ameliorating market conditions in the post-pandemic era and the platform's provision of high-quality services.

Didi’s major competitors in the mobile travel industry include Chinese companies such as Shouqi, Dida Travel, and Caocao Mobility, as well as international companies such as Uber from the US and Grab from Malaysia.

Based on current industry trends, several companies are directing their attention towards autonomous driving. On April 13, Didi unveiled its first robotaxi concept car known as Didi NEURON, along with progress in technology, hardware, mass production, and new business exploration.

Meng Xing, chief operating officer of Didi, said that Didi is partnering with new energy vehicle companies and is currently making progress in Robotaxi product definition, model platform selection, and cockpit and smart driving system development. The first model is expected to be connected to Didi’s shared travel network in 2025, enabling all-weather, large-scale mixed dispatch. 

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