{"id":7398,"date":"2024-03-23T06:44:08","date_gmt":"2024-03-23T06:44:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/23\/chinas-didi-swings-to-profit-in-fourth-quarter\/"},"modified":"2024-03-23T06:44:08","modified_gmt":"2024-03-23T06:44:08","slug":"chinas-didi-swings-to-profit-in-fourth-quarter","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/03\/23\/chinas-didi-swings-to-profit-in-fourth-quarter\/","title":{"rendered":"China’s Didi swings to profit in fourth quarter"},"content":{"rendered":"
\"China’s<\/div>


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Didi Global<\/a>, China<\/a>‘s largest ride-hailing<\/a> company, on Saturday reported a fourth-quarter profit<\/a>, indicating that the Chinese ride-hailing leader has gradually recovered from difficulties after prolonged regulatory scrutiny.<\/p>\n

Didi Global reported net income attributable to shareholders of 818 million yuan ($113.15 million) in the three months ending Dec. 31, compared with a loss of 953 million yuan a year ago. Revenues<\/a> jumped 55.4% to 49.4 billion yuan for the quarter.<\/p>\n

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In 2021, Didi found itself in the spotlight of China’s cyberspace regulator<\/a> over its pursuit of a U.S. initial public offering without obtaining approval, prompting an inquiry that prohibited it adding new users and resulted in many of Didi’s apps being removed from major app stores. <\/p>\n

The company was penalized with a $1.2 billion fine in July 2022 over data security violations. The company began recovering from its regulatory challenges in early 2023 when it received permission to relaunch its apps.<\/p>\n

Didi’s net profit in Q4 2023 was also affected by a substantial one-time expenditure in November, which was associated with compensating users for a glitch that disrupted its ride-hailing app. <\/p>\n

As part of an apology for the malfunction, which that lasted for hours, the company provided millions of customers with coupons valued at 10 yuan ($1.40) each.<\/p>\n

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Discover the stories of your interest<\/h3>\n<\/div>\n
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Didi Global, China‘s largest ride-hailing company, on Saturday reported a fourth-quarter profit, indicating that the Chinese ride-hailing leader has gradually recovered from difficulties after prolonged regulatory scrutiny. Didi Global reported net income attributable to shareholders of 818 million yuan ($113.15 million) in the three months ending Dec. 31, compared with a loss of 953 million […]<\/p>\n","protected":false},"author":2,"featured_media":7399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[168,7940,11368,11369,11365,2702,498,7871,11367,11366,11370],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/7398"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=7398"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/7398\/revisions"}],"predecessor-version":[{"id":7400,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/7398\/revisions\/7400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/7399"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=7398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=7398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=7398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}