Dida (2559) H1 2025 earnings summary

Executive summary

• Asset-light mobility platform had 395m+ registered users; carpooling operated in 366 cities with 19.9m certified private car owners. H1 GTV was RMB2,608m and orders totaled 43.2m.

• H1 revenue was RMB286.3m and net profit RMB134.3m; adjusted net profit rose 4.7% to RMB135.8m, while IFRS net profit fell from RMB947.9m.

Financial highlights

• Revenue was RMB286.3m vs. RMB404.1m YoY; gross profit was RMB191.8m vs. RMB296.1m.

• IFRS profit before tax was RMB134.6m vs. RMB958.4m; net profit was RMB134.3m vs. RMB947.9m.

• Adjusted net profit, excluding share-based payment expenses, Preferred Share fair-value changes and listing expense, rose 4.7% to RMB135.8m from RMB129.7m.

• Other gains were RMB80.5m, mainly from FVTPL financial assets; the prior-year period included an RMB870.2m Preferred Share fair-value gain.

• Operating cash flow was RMB56.2m vs. RMB4.0m; cash and cash equivalents ended June at RMB998.4m vs. RMB1,057.3m at December 2024.

Outlook and guidance

• Station-based carpooling orders increased month by month in H1; priorities include reducing detours and fares and improving driver-rider interactions.

• H2 plans include partnering with ride-hailing platforms to serve unmatched carpool demand and exploring vehicle repair, maintenance, financing, insurance and used-car services.

• Taxi strategy is shifting to integrated roadside and online hailing; dynamic pricing is being developed with local authorities and taxi-industry stakeholders in selected cities.