Didi swings back to a loss in Q4 after revving up global expansion
Its revenue is up by more than 10%, reflecting growth in newer international markets including Brazil and Mexico
Published Fri, Mar 13, 2026 · 08:56 PM
[BEIJING] Didi Global fell back into the red in the fourth quarter, after the Chinese ride-hailing leader stepped up investments – while grappling with new rivals such as Meituan abroad.
The company recorded a net loss of 338 million yuan (S$63 million) for the quarter. Revenue rose more than 10 per cent, reflecting growth in newer international markets including Brazil and Mexico.
Transaction volumes within the company’s China and international segments reached new heights, chief executive officer Cheng Wei said on Friday (Mar 13).
Known as China’s answer to Uber Technologies, Didi debuted on the New York Stock Exchange in 2021. However, it soon drew scrutiny from the cyberspace regulator, which opened a probe into the company’s data-security practices before suspending its app.
The company ultimately delisted from the mainboard and now trades only over the counter in the US. It has said it aims to list on the Hong Kong stock exchange, but never set a formal timeline.
Didi relaunched its apps in 2023 after China closed the probe, and has reported profits for most of the past two years.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
It recently booked a loss in the June quarter, due to a one-time charge regarding a shareholder lawsuit involving its initial public offering in 2021.
The company also advanced its robotaxi business, with self-driving vehicles deployed in some Chinese cities.
“We will continue to increase our investment in autonomous-driving research and development, as well as operations,” Cheng said.
Intense rivalry in Brazil’s food-delivery market remains a risk factor in 2026, reflecting the disruptive market entry of Meituan in October 2025.
Improving operating leverage in Didi’s China ride-hailing business should help treble group earnings before interest, taxes and amortisation between 2025 and 2027, underpinned by a stable regulatory outlook, lower overseas losses and gains from portfolio rationalisation.
The forecast rise in profit is not dependent on a successful robotaxi roll-out, which still faces substantial technological, regulatory and commercial risks.
Though China is well-placed as a leading global developer of autonomous-driving technology, the mass deployment of robotaxis is believed to remain a distant prospect. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
