Didi Chuxing, the Chinese passenger company, unveiled its U.S. public offerings, outlined the economic damage the pandemic had on its business last year and the strength of its rebound, and set the stage for one of the largest internationals. 2021 lists.
Didi has a leading driving application in China and has recently expanded worldwide in electric vehicles and while also developing money autonomous driving research.
Previously, private investors valued $ 65 billion in Didi’s 2018 fundraising round, according to a report on the subject. It is likely that the company will seek a higher valuation during the public offering.
Depending on the reception of investors, Didi’s list could compete with the Korean e-commerce company It debuted in the Coupang market at the beginning of the year, which was the largest U.S. public offering for an international company since Alibaba did it in 2014.
Didi’s revenue fell 8.5% to Rmb141.7bn ($ 22 billion) in 2020, according to data presented as a coronavirus pandemic indented its main business. Losses rose to Rmb10.6bn at the same time.
The business bounced back in the first quarter of this year, however, with Didi allowing him to book Rmb42.2bn revenue and a net profit of Rmb5.5bn. The company lost money from operations in the quarter, but gained gains from investments.
The Beijing-based company said its main business in China has been profitable since 2019 with adjusted earnings based on interest, taxes, amortization and amortization.
Xiaoju Kuaizhi, Didi’s holding company, submitted it to offer U.S. deposit shares in U.S. exchanges on the expected list next month. The public premiere will be a milestone for the company, as it raised billions of dollars from Japanese SoftBank while fighting early Uber competition in his home market.
SoftBank has invested more than $ 10 billion in Didi, a 21.5 percent stake in its Vision Funds, and the Chinese Internet giant Tencent was held a 6.8 percent stake.
The Uber company accounted for 12.8 percent of China’s business after it was largely sold to Didiri in 2016 action-based agreement.
Last month, regulators called Didi and nine other vehicle and freight forwarding company executives to provide feedback on their data and pricing practices. In his presentations, Didi said he has a number of risks associated with China’s corporate structure and government relations.