Didi wants to wait for an opportunity to acquire? Cao Cao travel emergency response

YumZoay
2022-04-08

$DiDi Global Inc.(DIDI)$

On April 8, it was reported on the Internet that many didi employees and executives joined Cao Cao for a trip. Didi intends to acquire Cao Cao for a trip at an appropriate time. The person in charge of Cao Cao's travel responded to the reporter of China Securities Journal: false news, fried cold rice.

It is reported that Cao Cao acted as a shared travel platform under Geely Holding Group, and completed a round B financing of 3.8 billion yuan in 2021, focusing on shared travel of new energy vehicles.

Industry insiders pointed out that the use of new energy models by car companies to share travel business is an effective measure for car companies to accelerate the development of new energy vehicles and expand car sales.

Cao Cao's response to being acquired by didi: untrue

In the morning of April 8, there was a rumor in the market that many didi employees joined Cao Cao for travel, and didi intended to acquire Cao Cao for travel at an appropriate time. For example, Gong Xin, who once served as the general manager of didi special car business department and was responsible for driving on behalf of others, special cars and regional online car Hailing business, served as the CEO of Cao Cao travel.

The person in charge of Cao Cao's travel told the China Securities Journal: "it's false news. Cao Cao's travel has no intention or action related to this."

Public information shows that in May 2021, Gong Xin, a former senior executive of didi travel, joined Cao Cao travel as CEO, took over Liu Jinliang, the founder of Cao Cao travel, as the legal representative of the company, and "took over" Dong Kainan as the general manager.

Shortly after Gong Xin joined Cao Cao's travel, Cao Cao's travel announced the completion of round B financing on September 6, 2021, with an amount of 3.8 billion yuan. The investors in this round are Suzhou Xiangcheng financial holding group, Suzhou high speed railway new town state holding group, Suzhou urban investment company, Agricultural Bank of China International Suzhou company and Soochow innovation capital, which are mainly used for the improvement of services at both ends of drivers and passengers and the R&D and application of new technologies. It is reported that this round of financing is the largest single financing obtained by domestic online car Hailing enterprises since 2020.

Founded in 2015, Cao Cao travel is a strategic investment business of Geely Holding Group in the layout of "new energy vehicle sharing ecology". In January 2018, Cao Cao travel completed a round of financing of 1 billion yuan, and was increased by nearly 70 million yuan by Geely Holding Group in August 2021.

Didi travel, which is listed in the United States, recently reported $258, with a total market value of $12.4 billion, down more than 80% from the peak at the beginning of last year's listing.

Car enterprises make efforts to share travel

Cao Cao's travel is backed by Geely Holding Group, and the operating models are mainly new energy models such as Dihao EV series, maple leaf 80V tram and geometry. Li Shufu, chairman of Geely Holding Group, said that the layout of big travel is one of the key measures in Geely's science and technology transformation strategy.

At the 2021 Strategy Conference of Cao Cao travel, Gong Xin, CEO of Cao Cao travel, announced the new strategy of Cao Cao travel - "N3 strategy", which refers to new car, new power and new ecosystem respectively. It is reported that Cao Cao's travel will rely on the two advantages of Geely travel ecology and Suzhou Industrial Ecology to create an integrated travel.

According to the data, by the end of 2021, Cao Cao travel had been launched in 62 cities across the country, with more than 70 million registered users. According to the 2021 Q1 mobile Internet industry data research report released by Aurora big data, Cao Cao's monthly active users (MAU) reached 5.679 million, a significant increase of nearly 140% over the same period in 2020.

Although it is still in the review period, the market share of didi travel is still in the leading position in the shared travel industry. According to the official data released by Didi, as of March 31, 2021, Didi has 377 million annual active users and 13 million annual active drivers in China.

Many car companies have already laid out and shared travel tracks. For example, Chery automobile has invested in gofun, a time-sharing leasing platform of Shouqi group; BAIC has incubated many brands in the field of time-sharing leasing, such as green dog, Huaxia travel, Qingxiang travel and so on. In June 2021, Huaxia travel, a subsidiary of BAIC group, announced strategic cooperation with BAIC Jihu, purchasing 1000 Jihu cars and distributing 17 cities. It is reported that this cooperation may save the sales volume of Jihu.

Industry insiders said that using new energy models to layout and share travel business is an effective measure for automobile enterprises to accelerate the development of new energy vehicles. On the one hand, operating vehicles have long operation time and wide coverage, which can accumulate a large amount of road test data for vehicle enterprises and improve vehicle related performance; On the other hand, the national policy encourages the proportion of new energy vehicles in the field of public transport to increase. The market space is large, and vehicle enterprises can occupy the market through rapid mass production.

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Comments

  • highhand
    2022-04-11
    highhand
    speak of cao cao, and cao cao is here!
  • 涓流入海
    2022-04-09
    涓流入海
    How will Didi get the money for requisition?
  • sky老夫子
    2022-04-11
    sky老夫子
    加油
  • Tyliew
    2022-04-10
    Tyliew
    [暗中观察]
  • 5D1T2
    2022-04-10
    5D1T2
    ok
  • Jerry79
    2022-04-09
    Jerry79
    Nice info
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