China’s Didi swings to profit in fourth quarter

DIDI Global, China’s largest ride-hailing company, on Saturday (Mar 23) reported a fourth-quarter profit, indicating that the Chinese ride-hailing leader has gradually recovered from difficulties after prolonged regulatory scrutiny.

Didi Global reported net income attributable to shareholders of 818 million yuan (S$152.6 million) in the three months ending Dec 31, compared with a loss of 953 million yuan a year ago. Revenues jumped 55.4 per cent to 49.4 billion yuan for the quarter. REUTERS