Internet travel platform tick-tock resumes IPO to Hong Kong

CTOnews.com February 20 news, HKEx documents show that today, Didi Chuxing once again submitted pre-listing documents to the HKEx, with China International Capital Corporation, Haitong International and Nomura International as co-sponsors.

Previously, Didi Chuxing first submitted its application for IPO to Hong Kong in October 2020 and submitted its prospectus for the second time in April 2021.

Didi said it generates revenue mainly by charging private car owners who provide hitchhiking on the platform, followed by charging taxi drivers; it also generates revenue from advertising and other services. As a pure information service platform, Didi Chuxing has achieved sustainable financial performance and does not own or lease fleet vehicles, nor bear any expenses related to holding vehicle assets.

CTOnews.com learned from the tick-tock travel documents that in 2020, 2021 and the nine months ended September 30, 2021 and 2022, the revenue was RMB 754.2 million, RMB 780.6 million, RMB 583.7 million and RMB 428.3 million, respectively. Based on adjusted net profits (measured by non-IFRS), tick-tock remains profitable during the track record period.

In 2020, 2021 and the nine months ended September 30, 2021 and 2022, the adjusted net profit (measured by non-IFRS) of Didi was 343.3 million yuan, 238.0 million yuan, 184.7 million yuan and 65.4 million yuan, respectively. The adjusted net profit margin (measured by non-IFRS) for the same period was 45.5%, 30.5%, 31.6% and 15.3%, respectively.