On October 8, Dida travel officially submitted its prospectus to the Hong Kong Stock Exchange and planned to list on the Hong Kong stock exchange. Haitong International Capital Co., Ltd. and Nomura International (Hong Kong) Co., Ltd. were the co sponsors. According to the prospectus, GTV of Dida platform will be RMB 11 billion in 2019. Among them, free ride was 8.5 billion yuan, with a year-on-year increase of 347.4%. In 2017, 2018 and 2019, Dida’s annual revenue was 49 million yuan, 118 million yuan and 581 million yuan respectively, with a year-on-year growth of 140.8% and 392.3% in 2018 and 2019, respectively. In 2019 and the six months ending June 30, 2020, Dida’s adjusted net profit was 172 million yuan and 151 million yuan respectively. The corresponding adjusted net profit margin was 29.7% and 48.6% respectively. In terms of operating cash flow, Dida has nearly 400 million yuan of operating cash flow in 2019, and 130 million yuan in the first half of 2020. In terms of gross profit, Dida’s gross profit in 2017, 2018 and 2019 was 24 million yuan, 69 million yuan and 462 million yuan respectively. In the first half of 2020, the gross profit was 255 million yuan, an increase of 116 million yuan over the first half of 2019, nearly doubling. < / P > < p > as of June 30, 2020, the total number of registered users of the application reached 180 million. Dida has provided free ride services in 366 cities across the country. There are about 19.2 million registered and 9.8 million certified free riders, with a total of 36.7 million passengers. In 2017, 2018 and 2019, the GTV of Dida hitchhiker was about 700 million yuan, 1.9 billion yuan and 8.5 billion yuan respectively, with a year-on-year growth of 171.4% and 347.4% in 2018 and 2019, respectively. < / P > < p > in 2017, 2018 and 2019, the number of Dida hitchhiker ride orders were 23.6 million, 48.2 million and 179 million respectively, with year-on-year growth of 104.2% and 270.5% in 2018 and 2019, respectively, and hundreds of millions of orders were increased in 2019. It is reported that on the occasion of the sixth anniversary, Dida has disclosed that the peak response rate of free ride has exceeded 70%. At the same time, in the taxi sector, the prospectus shows that as of June 30, 2020, Dida has provided taxi online booking services in 86 cities, and has established strategic partnership with the municipal or district taxi associations in 17 cities. < / P > < p > from the data point of view, as of June 30, 2020, the average monthly live users of Dida platform were 14.7 million. The operating revenue of 2017, 2018 and 2019 are 49 million yuan, 118 million yuan and 581 million yuan respectively. < / P > < p > according to the prospectus, the management team holds 34.43% of the total voting rights, accounting for 50% of the total voting rights, and can control about 73.57% of the total voting rights after listing. The senior management team headed by song Zhongjie maintains the independent decision-making power of the management team, which will benefit the company for a long time. According to the prospectus, institutional shareholders, including Weilai capital, IDG, Chongde investment, e-Car, hillhood capital and Jingdong Ctrip, held 21.60%, 10.23%, 7.15%, 4.95%, 4.14%, 4.14% and 2.86% respectively before Dida was listed. (Peng Lihui)= https://ibmwl.com/category/global-tech/ target=_ blank>Global Tech

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