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China’s Didi Chuxing to take 3.1% of passenger ride fees as profit

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A man is seen under a Didi logo at the headquarters of Didi Chuxing in Beijing, China November 20, 2020. REUTERS/Florence Lo

BEIJING, May 7 (Reuters) - Chinese ride-hailing giant Didi Chuxing, which is backed by SoftBank (9984.T), Alibaba and Tencent (0700.HK), said on Friday that 3.1% of passenger fees for rides will go towards its profit last year.

Drivers can on average get 79.1% of what customers pay for a ride, Didi posted on WeChat. This is the first time it offers details of its income structure from ride-hailing services in 2020.

It added that it would adjust its pricing strategy after receiving driver's advises. Didi also operates other businesses including sharing bikes, grocery and logistics services.

Nine-year-old Didi Didi Chuxing has mandated Goldman Sachs (GS.N) and Morgan Stanley (MS.N) to lead its blockbuster initial public offering in New York, sources told Reuters.

Didi’s CEO Cheng Wei said last year the company aimed to complete 100 million orders a day and have 800 million monthly active users globally by 2022.

Reporting by Yilei Sun and Tony Munroe, editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles.

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