1. Company profile: DiDi Global Inc.-the world's leading one-stop travel platform to build an aircraft carrier in the field of travel.

DiDi Global Inc. Travel is currently the first one-stop travel platform in market share, with more than 4000 service cities, 493 million platform users, more than 41 million daily orders, and new track raw data 106TB every day. Since its establishment, DiDi Global Inc. has formed a diversified business system. Travel business mainly includes four-wheeler business plate and two-wheeler business plate: including Didi Taxi, line navigation, green vegetable carpooling, shared bike, real-time bus service, free ride, car rental, driving, car service, financial services, errand running, freight transportation and so on.

two。 Market size: the travel industry is booming, and the Chinese market is expected to reach 10.6 trillion yuan.

With the popularity of the mobile Internet and mobile payments and the continued increase in restrictions on the purchase and driving of private cars, shared travel is welcomed through lower costs, greater flexibility and reliability. In 2020, China accounts for 13.1% of the global travel consumption, the market size is 5.7 trillion yuan, and is expected to grow at a compound annual growth rate of 13.1%, reaching 10.6 trillion yuan by 2025. The industry has a bright future.

3. Competition pattern: the whole layout of the travel track, DiDi Global Inc. 's leading position is difficult to shake.

From the perspective of the ride-hailing industry: in the first quarter of 2019, DiDi Global Inc. 's market share was as high as 90.3%, occupying a market share with an absolute advantage. From the perspective of the taxi industry: at present, the business model of China's taxi industry is still based on traditional recruitment. Among the taxi orders completed in 2019, the combined market share of the top five online mobile platforms in China's taxi market is 3.07%. Among them, DiDi Global Inc. ranks first with a market share of 2.05%. From the perspective of the free ride industry: DiDi Global Inc. was affected by safety incidents. DiDi Global Inc. 's free ride business ranked third in the industry with a 2.9% market share in 2019. From the perspective of the two-wheeler industry, Green Orange Bike leads the market with 34.916 million active users, ranking first among Mini Program end users.

4. Financial analysis: platform service fee is the main source of income, with revenue reaching 140 billion yuan in 20 years.

DiDi Global Inc. 's revenue was frustrated in the epidemic and then quickly returned to growth. According to the prospectus, DiDi Global Inc. 's revenue in 2018, 2019 and 2020 was 135.288 billion yuan, 154.786 billion yuan and 141.736 billion yuan respectively, while DiDi Global Inc. 's revenue in the first quarter of 2021 was 42.163 billion yuan, compared with 20.472 billion yuan in the same period last year. From the perspective of profitability, DiDi Global Inc. 's travel net profit continued to be negative by 2020 and began to turn a loss into a profit in the first quarter of 2021. The net losses in 2018, 2019 and 2020 were 15 billion yuan, 9.7 billion yuan and 10.6 billion yuan respectively. DiDi Global Inc. 's profit in the first quarter of 2021 was 5.483 billion yuan, compared with a net loss of 3.972 billion yuan in the same period last year.

5. Horizontal expansion: on the basis of travel, actively expand business, towering trees are about to grow

There is a broad market space for the sinking of the taxi-hailing industry. DiDi Global Inc. uses low prices as a means to attract price-sensitive people, thus increasing the potential user base, so as to gain a larger market share by sinking the market through hogs and green vegetables. DiDi Global Inc. 's entry into the community group buying market is intended to develop the second growth curve. DiDi Global Inc. Fili Community Group Shopping, Orange Heart was established in Chengdu in May 2020, and then expanded rapidly with Chengdu as the central point. at present, it has covered 20 provinces and cities, including Sichuan and Chongqing. By November 2020, the national daily order volume has exceeded 7 million.

6. Future development: layout of autopilot track, Robotaxi opens up new space

DiDi Global Inc. has set up an autopilot technology research and development department since 2016 to create the world's leading L4 self-driving technology. In August 2019, DiDi Global Inc. announced that the autopilot department would be upgraded to an independent company, focusing on autopilot research and development, product applications and related business development. At present, DiDi Global Inc. 's autopilot has obtained self-driving public road test licenses in Beijing, Shanghai, Suzhou and California in the United States, and has been awarded the first batch of intelligent Internet vehicle demonstration application licenses issued by Shanghai.

Risk hint

The impact of the epidemic has led to fluctuations in travel market demand, fierce competition in the industry, and the expansion of the upper and middle reaches of the industrial chain is not as expected.