Stock Track | DIDA INC Shares Soar on Surprise Profit in First Half

Stock Track09-02

Shares of Chinese ride-hailing firm DIDA INC surged as much as 34.36% on Monday, after the company swung to a profit in the first half of 2024 from a loss a year earlier.

DIDA INC, which operates one of the largest carpooling platforms in China, reported a net profit of 947.9 million yuan ($133.6 million) for the January-June period, compared with a loss of 220.2 million yuan in the same period last year. Revenue rose 2% to 396.2 million yuan.

As of June 30, the company had rolled out its carpooling services across 366 cities in China, with 368 million registered users and 17.7 million certified private car owners on its platform, up 17% year-over-year. DIDA INC said it believes carpooling in China is still in its early stages of development but has the potential to be a huge market.

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