• 31 July 2026 – eLong, Inc., a wholly-owned subsidiary of Tongcheng Travel Holdings Limited, has dispatched a composite document launching a voluntary conditional general cash offer for all issued shares of ride-sharing platform Dida Inc. at HK$1.3875 per share.
• The cash offer is valued at about HK$1.42 billion, based on Dida’s 1.03 billion shares outstanding. eLong has secured a HK$1.50 billion loan facility from China CITIC Bank International to fund the purchase.
• Five major shareholders—5brothers, Leap Profit, Smart Canvas Investment, Star Celestial and NBNW Investment—owning a combined 53.70 % of Dida have given irrevocable undertakings to accept the offer, satisfying the key acceptance condition (more than 50 % voting rights).
• Dida’s board proposes a special cash dividend of HK$1.1745 per share, payable to shareholders on record as of 20 July 2026, conditional on the offer becoming unconditional. The offer price will not be adjusted for this dividend.
• Key dates: Offer opens 31 July 2026; first closing deadline 4:00 p.m. on 21 August 2026; final closing targeted for 4 September 2026. Settlement cheques will be mailed within seven business days after acceptances become unconditional.
• eLong does not plan to delist Dida and will take steps to restore minimum public float if needed. Four executive directors of Dida intend to resign post-offer; Tongcheng Travel plans to nominate Wang Xiaobo (executive) and Li Jun (non-executive) to the board.
• Financial snapshot: Dida recorded 2025 revenue of RMB502.44 million and net profit of RMB129.81 million, down from 2024’s RMB787.22 million revenue and RMB1.00 billion profit. A profit warning indicates an expected first-half 2026 loss of up to RMB65.40 million on revenue of up to RMB173.50 million.
• All outstanding share options and RSUs were fully vested and exercised on 6 July 2026; no further options or RSUs remain.
• The offer marks Tongcheng Travel’s push to integrate Dida’s carpooling and smart-taxi services with its own travel ecosystem, aiming to build a “door-to-door” mobility platform while retaining Dida’s Hong Kong listing.