Chinese ride-hailing company Didi Global posted a second-quarter net loss of 2.5 billion yuan ($350 million), weighed down by a one-off provision related to a shareholder lawsuit, even as revenue increased on the back of overseas growth.
The loss was largely attributed to a 5.3 billion yuan charge for the previously disclosed case, alongside higher marketing and operating expenses as domestic competition intensified.
Rivals such as Alibaba and Meituan have expanded their ride-hailing services through super-app platforms that aggregate multiple providers, drawing in users with broader digital offerings.
Didi’s revenue rose 10.9% year-on-year to 56.4 billion yuan from 50.9 billion yuan, supported by a 28% increase in overseas business, which remains a smaller share of total sales.
The company resumed business expansion in early 2023 after regulatory restrictions following its U.S. IPO in 2021 were eased.
