DiDi(DIDIY) - 2022 Q4 - Annual Report

Liquidity and Debt Management - As of December 31, 2022, the company held cash and cash equivalents of RMB20,855 million (US$3,024 million) and total current liabilities of RMB20,248 million (US$2,936 million) indicating a strong liquidity position [1001]. - The company had short-term borrowings of RMB4,940 million (US$716 million) as of December 31, 2022, down from RMB6,838 million in 2021, reflecting a reduction in short-term debt [994]. - Long-term borrowings decreased significantly to RMB150 million (US$22 million) as of December 31, 2022, from RMB1,681 million in 2021, indicating a shift in the company's debt structure [995]. Lending Activities - Loans receivable increased to RMB5,339 million (US$774 million) as of December 31, 2022, from RMB4,644 million in 2021, showing growth in the company's lending activities [1000]. Payment Processing Dynamics - The company reported cash held in accounts managed by online payment platforms decreased to RMB972 million (US$141 million) as of December 31, 2022, from RMB2,213 million in 2021, indicating a shift in payment processing dynamics [998]. Interest Rate Impact - An increase in interest rates by 0.25% would have resulted in an increase in loss before income taxes by RMB3.0 million (US$0.4 million) for the year ended December 31, 2022 [996]. Initial Public Offering (IPO) - The company raised approximately US$4,332.0 million in net proceeds from its initial public offering, which closed in July 2021, after deducting underwriting commissions and expenses [1019]. - The total expenses incurred for the initial public offering were US$103.2 million, including US$88.7 million in underwriting discounts and commissions [1020]. - The company did not use any of the net proceeds from the initial public offering for the year ended December 31, 2022, indicating a conservative approach to capital allocation [1021]. Foreign Exchange Risk - The company is exposed to foreign exchange risk due to fluctuations in the Renminbi against other currencies, which may impact its financial performance [993].