滴滴2025年Q1财报：国内高增长，海外持续减亏

Core Viewpoint - Didi is solidifying its core ride-hailing business while also expanding into new areas to maintain its commercial momentum [1][10]. Financial Performance - In Q1 2025, Didi reported revenue of 53.262 billion yuan, a 9% increase year-over-year; net profit was 2.4 billion yuan, with adjusted net profit at 2.9 billion yuan [3]. - The total order volume for Didi's core platform, including domestic and international operations, reached 4.247 billion orders, a 13.4% increase from the previous year [3][5]. - The Gross Transaction Value (GTV) for the reporting period was 101.6 billion yuan, up 10.2% year-over-year, with a fixed exchange rate growth of 13.5% [7]. Business Segmentation - Domestic ride-hailing orders totaled 3.258 billion, a 10.3% increase, while international orders reached 989 million, growing by 24.9% [5]. - Daily average orders exceeded 47 million, with domestic daily orders at 36.2 million and international at 10.99 million [5]. Strategic Initiatives - Didi is diversifying its domestic offerings, including intercity buses and pet transportation services, to meet varied customer needs [8][9]. - The company is expanding its international presence, launching services in over 1,200 cities across nine countries, including plans for overseas charter services [9]. - Didi is investing in autonomous driving technology, with plans for a Robotaxi model to be delivered by the end of the year [9]. Market Positioning - Didi's approach emphasizes local service while promoting global investments to enhance local business and ecosystem development [10]. - The company is focusing on AI applications to optimize operations and improve user experience, indicating a shift towards efficiency-driven growth [12]. Capital Management - Didi has initiated a stock buyback plan, with a commitment to repurchase up to $10 billion in shares over two years, later increasing this to $20 billion [13]. - As of May 2025, Didi had repurchased approximately 264.7 million ADS, totaling about $1.153 billion [13]. Long-term Vision - Didi aims to transform the ride-hailing industry into a sustainable business by addressing smaller, specific customer needs with tailored solutions [14].