On March 13, Didi (滴滴) released its Q4 and full-year 2025 financial results on its official website. The report indicated that while revenue grew, the company's overall profit contracted year-on-year.
In the fourth quarter of 2025, Didi recorded revenue of 58.4 billion CNY, a 10.5% increase from 52.9 billion CNY in the same period last year. The company recorded a net loss of 333 million CNY for the quarter, significantly narrowed from a loss of 1.336 billion CNY in Q4 2024. However, its adjusted EBITA dropped to -2.115 billion CNY from 322 million CNY in the previous year. For the full year of 2025, Didi recorded total revenue of 226.7 billion CNY, up 9.6% year-on-year. Net profit for the year was 1.005 billion CNY, a year-on-year decrease of approximately 21.2%, while adjusted EBITA was 3.67 billion CNY, down approximately 15.2%.
The decline in Didi's profit was primarily concentrated in its international segment. Financial data shows that in Q4, the international business recorded an adjusted EBITA loss of 3.443 billion CNY, with the loss widening by 2.7 billion CNY year-on-year. For the full year of 2025, the international adjusted EBITA loss reached 6.05 billion CNY, widening by 4.2 billion CNY. Didi attributed this expanded loss mainly to increased spending on incentive subsidies and marketing expenses.
Despite the losses, Didi's international business remains in an expansion phase. In Q4 2025, international order volume grew 24.5% year-on-year to 1.265 billion orders, with Gross Transaction Value (GTV) increasing 47.1% to 36.59 billion CNY. For the full year, international orders reached 4.505 billion, up 24.7%, while GTV reached approximately 117 billion CNY, a 28.2% increase.
Didi founder and CEO Cheng Wei stated that strategic investment in overseas new businesses during the fourth quarter exceeded expectations. He noted that the synergistic value of multiple businesses in the Latin American market has become apparent and pledged to continue strengthening local development. The financial report confirmed that Didi will continue to deepen its presence in the Brazilian and Mexican markets.
Previously, Wang Simeng, head of Didi's Brazilian platform 99, stated that Brazil is the primary profit contributor for Didi’s overseas operations. As of December 2025, Didi’s international business covers 14 overseas markets, including 10 Latin American countries such as Brazil, Mexico, Chile, Colombia, and Argentina, as well as Australia, New Zealand, Japan, and Egypt. Didi's international services include ride-hailing, food delivery, and financial services. The core ride-hailing business covers all 14 markets, while food delivery operates in 5 countries including Brazil and Mexico, and financial services are provided in Brazil and Mexico.