Dida Inc. released its audited results for the year ended 31 December 2025.

Revenue and Profitability • Revenue contracted 36.15% year-on-year to RMB502.44 million, reflecting lower carpooling and mobility-related orders amid intensified competition. • Gross profit slid 41.31% to RMB332.93 million, with gross margin narrowing to 66.30% (2024: 72.00%). • Net profit dropped 87.10% to RMB129.81 million, mainly due to the absence of the RMB870.20 million one-off fair-value gain on preferred shares booked in 2024. • Adjusted net profit (excluding share-based payment expenses and other non-recurring items) fell 34.75% to RMB137.93 million, giving an adjusted net margin of 27.46%.

Segment Performance • Mobility-related services contributed 97.10% of total revenue, down 35.80% to RMB487.75 million; gross margin slipped to 65.60%. • Advertising and other services revenue halved to RMB14.69 million; gross margin improved to 87.60% on a larger share of programmatic ads.

Expense and Cost Trends • Cost of services decreased 23.00% to RMB169.51 million, lagging the revenue decline due to fixed platform costs. • Selling and marketing expenses were trimmed 28.80% to RMB121.74 million following tighter subsidy policies. • R&D spending fell 24.79% to RMB104.55 million after headcount optimisation, while administrative expenses almost doubled to RMB73.69 million, driven by one-off severance and higher bonuses.

Cash Flow and Balance Sheet • Operations generated RMB78.39 million in net cash (2024: RMB109.04 million). • Free cash outflow from investing reached RMB169.25 million, mainly due to purchases of time deposits and financial assets. • Cash and cash equivalents stood at RMB966.99 million at year-end (2024: RMB1.06 billion); net current assets improved to RMB1.34 billion. • Gearing ratio eased to 27.90% on total liabilities of RMB565.90 million against total assets of RMB2.03 billion.

Capital Allocation • Capital expenditure was minimal at RMB0.12 million, versus RMB0.62 million in 2024. • The company invested RMB121.90 million in Uxin Limited shares and continued to deploy surplus cash in low-risk wealth-management products. • No final dividend was proposed.

Operational Highlights • Registered user base surpassed 415 million; certified private car owners reached 21 million across 366 cities. • Total platform gross transaction value was RMB4.68 billion with 80.9 million orders, including 76.5 million carpooling trips. • 2025 marked the rollout of ride-hailing aggregation services, broadening coverage from medium-to-long-haul carpooling to short- and medium-distance on-demand rides.

Outlook Management targets further diversification of mobility offerings and continued algorithm-driven cost controls amid a challenging competitive landscape and macroeconomic headwinds. The company will also focus on enhancing monetisation and maintaining financial resilience through disciplined capital deployment.