Thursday, July 17, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
China’s Didi reports third-quarter rebound from regulatory crackdown, ET Auto

China’s Didi reports third-quarter rebound from regulatory crackdown, ET Auto

by admin
November 30, 2024
in Technology
0 0
0
Share on FacebookShare on Twitter


BEIJING: China’s largest ride-hailing firm Didi World reported third-quarter internet earnings of 929 million yuan ($128.42 million) on Friday, because it constructed again its enterprise after a regulatory crackdown.

That in contrast with a internet lack of 284 million yuan in the identical quarter final yr, the corporate mentioned in its monetary assertion, revised from an earlier reported internet revenue after the group adopted a brand new accounting commonplace earlier this yr.

Persevering with its restoration after being badly hit by a regulatory crackdown, the corporate’s income was up 5% at 53.9 billion yuan for the three months to Sept. 30.

Didi drew the eye of China’s our on-line world regulator in 2021 over its pursuit of a U.S. preliminary public providing with out approval, prompting an inquiry that prohibited it from including customers and noticed a lot of its apps faraway from shops.

The regulator handed Didi a $1.2 billion nice in July 2022 over an information safety violation, earlier than granting the corporate permission to relaunch its apps in early 2023.

Journey demand in China has proven indicators of a restoration, although financial progress is sluggish. The corporate accomplished a complete of three.2 billion transactions in the course of the quarter, a ten.6% year-on-year rise throughout its platforms in China.

Didi, which is seen as China’s reply to Uber, generates most of its income at residence but additionally has a big presence in Brazil and Mexico.

Third-quarter income from worldwide operations rose to 2.9 billion yuan from 2 billion yuan a yr earlier.

Over the previous two years, Didi has been divesting non-core belongings. In August it offered its sensible cockpit unit to a subsidiary of state-backed map supplier NavInfo.

Final yr, Didi divested its electrical car improvement enterprise – the vast majority of its EV-related belongings – to Xpeng .

($1 = 7.2342 Chinese language yuan renminbi) (Reporting by Liam Mo and Brenda Goh; Enhancing by David Goodman and Jan Harvey)

  • Printed On Nov 30, 2024 at 11:39 AM IST

Be a part of the group of 2M+ trade professionals

Subscribe to our e-newsletter to get newest insights & evaluation.

Newsletter icon

Obtain ETAuto App

  • Get Realtime updates
  • Save your favorite articles


Scan to obtain App




Source link

Tags: AutoChinascrackdownDidireboundregulatoryreportsthirdquarter

Related Posts

Delhi Police Revolutionizes Crime-Fighting with Cutting-Edge Technology, ETAuto
Technology

Delhi Police Revolutionizes Crime-Fighting with Cutting-Edge Technology, ETAuto

July 17, 2025
India’s Strategic Shift to Rare Earth-Free Electric Vehicles, ETAuto
Technology

India’s Strategic Shift to Rare Earth-Free Electric Vehicles, ETAuto

July 17, 2025
US auto safety nominee calls for active oversight of self-driving cars, ET Auto
Technology

US auto safety nominee calls for active oversight of self-driving cars, ET Auto

July 16, 2025
Pricol joins hands with Italian firm for two-wheeler control technologies, ET Auto
Technology

Pricol joins hands with Italian firm for two-wheeler control technologies, ET Auto

July 15, 2025
AI and Machine Learning Transforming India’s Mobility Industry, ET Auto
Technology

AI and Machine Learning Transforming India’s Mobility Industry, ET Auto

July 15, 2025
Discover Dylect’s Innovative Smart Dashcams to Enhance Road Safety in India, ET Auto
Technology

Discover Dylect’s Innovative Smart Dashcams to Enhance Road Safety in India, ET Auto

July 14, 2025
Load More
Next Post
Defender vs G Class vs Wrangler video comparison, off-roading, performance, comfort, features – Introduction

Defender vs G Class vs Wrangler video comparison, off-roading, performance, comfort, features - Introduction

Mercedes to use Momenta software in 4 models, accelerate China comeback, sources say, ET Auto

Mercedes to use Momenta software in 4 models, accelerate China comeback, sources say, ET Auto

Categories

  • Auto News (3,412)
  • Automative Reviews (1,932)
  • Car Brands (2,058)
  • Insurance (3,432)
  • Market (1,605)
  • New Cars (2,156)
  • Technology (2,029)
  • Videos (2,135)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • NEW Peugeot 308 review – better than a VW Golf? | What Car?
  • Discover the Surprising Bargains on the Used Alpina Market
  • Delhi Police Revolutionizes Crime-Fighting with Cutting-Edge Technology, ETAuto
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In